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In The Know: Weekly Music News Summary October 27, 2017

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Facebook Testing Changes To News Feed:

This was covered already this week, but it worth revisiting because of how big an impact it could have on publishers. Facebook started testing in six countries a change to its newsfeed where publishers would have to pay to show up on people’s feeds to start and then they would be separated onto a different explore section. This could dramatically impact traffic and social media interaction for every publisher out there if implemented, though organic reach has already been dead for a while now. Facebook says it isn't planning on implementing the change now, but we will see if they deem it a success. 

Independent Label Revenue Hits $6 Billion In 2016.

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According to a new WINTEL study, independent labels from 26 countries saw their revenues hit $6 billion in 2016, a 6.9% increase from the previous year. Their market share increased .9% from 2015 to 38.4%. Streaming revenue grew by 80%, reflecting a greater trend of streams making up a larger total of revenue for labels across music.

Read more here.

Sonos Launches $1.5 Million Music Grant Program:

Speaker and music company, Sonos, is launching a new $1.5 million grant program over the next three years aimed at music advocacy and supporting grassroots activists. It is all part of the company’s social impact initiative Listen Better. In an open letter, CEO Patrick Spence laid out the details for the program. They want to fight censorship ad promote free expression, support music education and more with the grants. 

Catch up on past In The Know's here.

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