In The Know: Sostereo's Weekly Music News Summary January 4, 2019

SoStereo's weekly music news summary with British music doing well and more.
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Apple Stock Plummets On News Of Slow International, iPhone Sales:

Apple had a very bad day on January 3, 2019. Its stock fell nearly 10% to a 15 month low at around $140 on a revised revenue forecast, though the stock has rebounded some today. The revised forecast was blamed on a slowdown in China, but many are looking at more factors like high prices, better competition among other smartphone makers, better quality and less meaningful upgrades leading to consumers keeping their phones longer. Its high prices are potentially pricing out some developing markets and consumers who don’t want to pay for new phones every year.

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BPI & ERA Reveal 2018 Music Growth In UK:

British music industry bodies BPI and ERA have published numbers on the recorded music industry in 2018. There was 8.9% increase in revenue to £1.33billion (around $1.68billion). Streaming is the dominant figure, with subscriptions growing 37% to £829.1 million or $1.04 billion. Physical sales fell by 16.6% to £383.2 or $484 million and digital downloads fell even further by 25% to £122.6 or $154.9 million.

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Fuse Among Music / Cultural TV Channels Being Cut Or Facing Cable Crunch:

Comcast and Verizon Fios have dropped Fuse in 2019, despite Fuse’s protests. Fuse’s contract expired on December 31 with both companies. “Despite Comcast’s publicly-stated commitment to support diverse and independently operated networks, Comcast has elected to drop Fuse, a multicultural-focused television network, on Dec. 31, after more than a decade of carriage. This decision is both surprising and troubling considering that Fuse met Comcast's financial demands and no other requirements were ever communicated to us,” Michael Schwimmer, president and CEO of Fuse Media, said in a statement via THR. He issued a similar one for Fios. Verizon said this was about lowering costs for them to create competitive TV packages. Look for these battles to get more intense and smaller cable companies to potentially get lost as more subscribers move to digital cable services and packages get slimmer.

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