In The Know: Weekly Music News Summary February 23, 2018

SoStereo's weekly music advertising and news roundup with stories about Songkick, MelodyVR, FYF Fest and more.
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Songkick Signs Integration Deal With Facebook:

Songkick, the concert discovery app, which was recently purchased by Warner Music Group, has announced a new partnership with Facebook. Like Bandsintown, it will integrate its concert listings into Facebook and its 2 billion users around the globe.

Read more here.

Pandora Increases Revenue In Q4, Wall Street Not Impressed:

Pandora reported its Q4 financials, showing overall revenue rose to $395 million, beating Wall Street’s expectation of $376 million. It also surprised with a 63% rise in subscription revenue. However its loss per share was 21 cents, much higher than the expected 7 cents per share. As a result, its stock tumbled 9% on the news and then gained almost all of that back by the end of the day. However, its stock continues to fall today.

Read more here.

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Facebook Signs Deal With Licensing Hub ICE:

Facebook has signed a licensing deal with European licensing agency ICE, which is a joint venture between PRS for Music, STIM and GEMA. The license goes across Facebook platforms including Facebook, Instagram, Messenger and Oculus. WhatsApp is not included in the deal. The license covers 290,000 rightsholders, across 160 territories and focuses on user-generated content, not a commercial streaming service.

Read more here.

AEG/Goldenvoice Reportedly Buy Out Sean Carlson Stake In FYF Fest:

According to a Billboard report, AEG/Goldenvoice has bought out FYF Fest founder Sean Carlson’s remaining stake in the company. Carlson has been accused of sexually assaulting several women in a November report and he has since apologized for his behavior, but denies many of the details. According to Billboard, AEG triggered a buyout clause in Carlson’s six-year agreement and bought out his remaining 50% of the festival. Now Goldenvoice's Jennifer Yacoubian will book the festival.

MelodyVR Signs Licensing Deal With Warner/Chappel Music:

The virtual reality content creator has signed a licensing deal with Warner/Chappel to create and distribute content on its platform using the publishing company’s library of songs. MelodyVR hasn’t launched yet and is expected to later this year, but they have already signed licensing deals with Sony, Universal Music, Warner Music and Roc Nation, among others. 

Read more here.

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