Digital Music News – studio recording, publishing, streaming, live concerts, talent development

The latest music news from Digital Music News, affecting recording industry, music publishing, mp3 streaming, concert industry, talent development, venture capital, and music technology, with reporting on artists new releases and where to get new mp3 songs.

1. Universal Music Reports Nearly 6% Q1 2024 Revenue Growth as Streaming Achieves Double-Digit Increase

   Universal Music Group (UMG) revenue climbed 5.8% during 2024’s opening quarter due in part to a 10.7% bump in the streaming-subscription category. The major label, now poised to generate more than 1% of its annual revenue from TikTok, posted the Q1 2024 financials today. Factoring for the 5.8% year-over-year (YoY) improvement, revenue hit $2.78 billion […]

2. Kakao Stake in SM Entertainment Approved by Korean Regulators — Subject to Some Key Conditions

   Korean regulators have approved Kakao’s acquisition of a 39.86% stake in SM Entertainment, contingent upon some key ‘corrective measures.’ The Korean Fair Trade Commission (FTC) said today that it has imposed two forms of corrective measures to address concerns that the merger of tech company Kakao and K-pop agency SM Entertainment could pose a threat […]

3. Mark Ronson, Sheryl Crow, Patti Austin, Lauren Daigle, Others Visit the White House to Chat AI Protections, Ticketing Reform, More

   Grammys On The Hill Advocacy Day sees a group including Mark Ronson, Sheryl Crow, Patti Austin, Lauren Daigle, and other industry leaders visiting the White House to talk about AI protections, ticketing reform, and much more. Grammy winners and nominees, along with music industry leaders across the country, kicked May off with a bang as […]

4. You’re Welcome, Music Industry: Lucian Grainge Says TikTok Pay Will Now ‘Be More Closely Aligned With Other Platforms in the Social Music Category’

   As Universal Music Group (UMG) artists prepare to return to TikTok under a newly finalized licensing agreement, the major label’s head, Lucian Grainge, has shed light on the terms of the pact. While a number of outlets (and relieved TikTokers) are weighing in on the renewed UMG-TikTok tie-up, relatively little attention is being directed towards […]

5. SAG-AFTRA Members Unanimously Ratify Major Label AI Protection Agreement Involving UMG, WMG, Sony Music, and Disney Music

   Members of SAG-AFTRA voted unanimously to ratify the 2024 Sound Recordings Code with the leading record labels, approving a new contract with groundbreaking AI protections and a compounded wage increase. The national voting was completed on April 30, with members of SAG-AFTRA voting 97.69% in favor of ratifying the 2024 Sound Recordings Code with the […]

6. Qobuz Rolls Out New Music Discovery for Classical Fans, Android TV Users

   Hi-res music streaming service Qobuz has added new music discovery features, while dropping an Android TV beta app. Qobuz says it has supercharged its music discovery features and classical search, while making it easier to pay for downloads. Also new is Qobuz Radio, which curates unique playlists of 30 songs that are designed to reflect […]

7. Rebel Rousin’ Rock Guitarist Duane Eddy Dies — Aged 86

   Rock ‘n’ roll guitarist Duane Eddy died on April 30, surrounded by his family in Franklin, Tennessee. The ‘king of twang’ was 86. The Grammy-winning guitarist was born in Corning, New York in 1938 and began playing the guitar at a young age. Eddy was a self-taught guitarist, bringing a distinctive sound with his playing […]

8. Hybe Reports Q1 Revenue Decrease Amid Light Release Schedule, Still Targeting 30% Increase in New Albums for 2024

   Hybe (KRX: 352820) has posted its financials for Q1 2024, when revenue slipped 12.1% year over year (YoY) due in part to a 21.3% YoY falloff in recorded music. The professional home of BTS, Illit, Le Sserafim, and more unveiled the first-quarter performance specifics today, amid a much-publicized showdown with its Ador subsidiary. (During the […]

9. Rejoice! Universal Music Group Artists Return to TikTok as New Licensing Agreement Emerges

   In a sudden turn of events, Universal Music Group and TikTok have announced a new licensing agreement, signifying a hopeful step forward in the fraught relationship between the music industry giant and the global social media platform. The development closely follows the passage of the ‘TikTok ban bill’ in the United States. The agreement, announced […]

10. Universal Music Group’s Legal Team Has Its Hands Full With Diddy Litigation Drama — The Latest Involves a 1990 Sexual Assault Charge

    Universal Music Group Recordings, a co-defendant in yet another Sean ‘Diddy’ Combs sexual assault lawsuit, has opposed an accuser’s request for a court extension ‘to oppose UMGR’s motion to dismiss the amended complaint.’ Sean “Diddy” Combs’ co-defendant in another sexual assault lawsuit — in which the accuser alleges she was forced into having sex with […]

11. Snapchat Extends Live Nation Partnership with ‘Snap Nation’

    Snapchat announces new ways for users to come together in an evolution of its Live Nation partnership, with the ‘Snap Nation’ public profile. During Snapchat parent Snap Inc.’s NewFronts presentation to its advertisers, the company revealed a slew of upcoming features like a new in-app sports channel, collaborations with figures like writer and actress Issa […]

12. Get Ready for Rock Nashville, An 82-Acre Rehearsal and Production Campus Coming in 2025

    Nashville’s new 82-acre rehearsal and production campus is gearing up to open in 2025, as a joint venture between the team behind Rock Lititz and leading commercial real estate developer Al. Neyer. In February, the joint venture closed on the Whites Creek property, an 82-acre campus less than 10 miles from downtown Nashville’s key attractions […]

13. Instagram Algorithm 2024 Changes — More Original Content, Better for Small Creators

    Instagram is making big changes in the way its algorithm recommends content in 2024, with a focus on original content and smaller accounts. The company announced some major updates to its system in a blog post on Tuesday (April 30). Instagram’s updated algorithm will prioritize original content rather than aggregators, with increased distribution for smaller […]

14. Anghami Reveals 1.87 Million Q1 2024 Subscribers, Anticipates ‘Significant Potential Revenue Growth’ Amid OSN+ Union

    MENA streaming service Anghami (NASDAQ: ANGH) has highlighted its Q1 2024 performance and released its complete financials for 2023, when revenue came in at $41.38 million and subscribers approached 1.73 million despite a sizable usership decline. OSN+-partnered Anghami just recently shed light on its Q1 2024 and 2023 showings, with the latter including a 14.7% […]

15. Music Industry Funding Drops More Than 77% in April Amid Continued 2024 Decline — Though YTD Funding Approaches $1.3 Billion

    Music industry funding fell 77.4% year-over-year in April of 2024, with deal-flow dropping substantially according to DMN Pro’s Music Industry Funding Tracker. Overall, the number of rounds decreased from nine to two, with year-to-date funding approaching $1.3 billion. These and other telling stats come from DMN Pro’s Music Industry Funding Tracker, a one-stop searchable database […]