In The Know: SoStereo's Weekly Music News Summary June 8, 2018

SoStereo's weekly music news summary with business happening by Roli, Apple Music and Spotify.
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Apple Music Web Player Released:

Apple Music unveiled a handful of products at this week’s WWDC conference, but one major development for Apple Music comes in the form of a web player. That means that Apple Music users can now use the streaming service outside of iTunes, which can be a pain to navigate. The web player is not perfect though. It does not offer full access to the Apple Music catalog, but could be helpful for those who don’t have iTunes.

Read more here.

ROLI Takes “Significant” Investment From Sony Innivation Fund:

British instrument-maker ROLI has announced it has taken a investment from Sony, more specifically from its Sony Innovation Fund. Speaking to Bloomberg, ROLI CEO Roland Lamb described the funding as a "significant investment and relationship for us.” He did not disclose the actual terms of the deal and Sony won’t take a seat on the board. The deal will give ROLI access to Sony’s contacts in music, notably in Asia, where they would look to expand sales.

Spotify Offering Advances To Artists & Managers To License Their Music:

Spotify is making a push to license music directly from artists that could be a good deal for both independent artists and the streaming service. According to a Billboard report, Spotify would offer artists 50% of the streaming proceeds, which is less than 54% of what is paid out of Spotify's revenue. This then gets split up between labels, publishers, distributors and others. Artists may only see 20% of that. In addition, Spotify is reportedly offering advances of a few hundred thousand dollars, which is typically less than a label, but artists keep their masters and can still license their music elsewhere. This could start a war between streaming services to offer better deals to artists and also force labels to actually pay their artists streaming money as revenues have started to climb in recent years.

Apple Music Adds “Pre-Adds” for Albums:

Much like Spotify’s “pre-save” feature, Apple Music has quietly added pre-adds for a select few albums on their service according to Music Ally. The feature means that artists and labels can develop a tool (at sometimes a high cost) that will allow users to automatically download an album to their profile when it is uploaded to the streaming service. It is the streaming service equivalent of a pre-order. This makes sure that artists can get their albums in the hands of fans and fans can make sure they download their favorite albums on streaming services. 

See how SoStereo can help you with music licensing.

See past In The Know's here.

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