Every Monday, we’re sharing the latest news and information for the music industry and technology worldwide.
Get your learn on and stay in the know with Symphonic’s Music Biz Monday!
APPLE IS INVESTING IN ORIGINAL PODCASTS – AND SPOTIFY INVESTORS AREN’T HAPPY ABOUT IT
Spotify’s market cap hit its highest point of 2019 at market close yesterday, giving the company a valuation of $27.87bn.
That meant Spotify’s market cap was worth over $5bn more than it was just six weeks prior, on June 3, at its lowest market-close on the NYSE this calendar year ($22.19bn).
In the past few hours, however, SPOT’s share price has taken a serious dent – after Bloomberg’s Terminal reported that Apple is about to make a major investment in creating its own podcast content.
\\ Read more on Music Business Worldwide //
SPOTIFY PARTNERS WITH DISNEY TO LAUNCH DISNEY HUB FEATURING MOVIE SOUNDTRACKS AND PLAYLISTS
Spotify has partnered with Disney to launch a dedicated Disney Hub on the platform.
Made available yesterday (July 17), users in the US, UK, Ireland, South Africa, Canada, Australia, and New Zealand can search for “Disney” on Spotify to access the new hub.
\\ Read more on Music Business Worldwide //
APPLE MUSIC TAKES ON SPOTIFY’S INFLUENTIAL RAPCAVIAR BRAND WITH RAP LIFE PLAYLIST AND WEEKLY SHOW
Apple Music appears to be taking on Spotify’s flagship hip-hop playlist RapCaviar with Rap Life, a rebranded version of The A-List: Hip-Hop.
Rap Life will feature “the most exciting new hip-hop, hand-picked by Apple Music’s editorial curators”.
\ Read more on Music Business Worldwide //
Buzzfeed Is Getting Into the Live Concerts — “We Think This Can Become a Significant Business”
BuzzFeed is staging its first live event with the help of several huge social media stars.
The one-hour variety special will be filmed live at New York City’s Webster Hall.
The variety show will include headlining performances from Lil Nas X and JoJo Siwa. Other influencers and BuzzFeed personalities included are Nicole “Snooki” Polizzi, Deena Nicole Cortese, and Angelina Pivarnick of MTV’s Jersey Shore Family Vacation.
\\ Read more on Digital Music News //
‘An Endless Fiasco’: Indie Retailers Describe Worsening Breakdown in Getting CDs, Vinyl Delivered to Record Stores
Since the Indiana-based fulfillment house Direct Shot started managing orders for all three major labels, stores haven’t been getting all their product.
The latest music industry conspiracy theory goes something like this: The majors want to kill physical formats, so they’re using fulfillment house Direct Shot to ship all their CDs and vinyl to stores.
\\ Read more on Billboard //
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