Universal Music 2017 Revenue Rises 10% to $7 Billion:
Who says the major labels are struggling? Universal Music has declared its 2017 financials and it is doing well. The major label’s revenue rose 10% from 2016 to €5.67 billion (about $7 billion at the current exchange rate). Of that number, $5.67 billion of that was from their recorded music business, which grew by 11%. The rest comes from publishing, merch and more. Digital sales is still the main source of revenue and is actually growing, but streaming grew 35% from the previous year.
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LANDR Now Distributing Through Beatport:
Digital mastering service and new distributor, LANDR, has joined a select group of distributors who now place music on Beatport. Those who use LANDR as a distribution platform can now release their tracks on Beatport, which makes sense since they cater to a lot of producers. “Our community of electronic music producers is huge, and we’re proud to announce a solution that allows them to easily get their music on the most important DSP for electronic artists and DJs,” said Vanessa Salvo, Product Manager of Distribution at LANDR in a press release.
Pandora Launches Pandora Premium On The Web:
While much of the focus in the streaming competition focuses on Spotify, Amazon and Apple Music, Pandora is still a major player. It is still struggling to get new users and manage debt, but it still holds an important part of the market. It is now launching it’s premium platform on the web to match the mobile app, so users can browse it outside of the app and make changes, find new music and more easier.
Learn more here.
Facebook to Launch Paywall Feature for Publishers:
According to head of news partnerships Campbell Brown and Product VP Adam Mosseri at Facebook, they are going to roll out a paywall feature that publishers can start to use. They told a conference that the tool would send a user to a publisher’s website after reading five articles on Facebook. The number can be adjusted by publishers according to The Hollywood Reporter, but right now, it is set at five. This feature would roll out on March 1.
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See past In The Know's here.