News just emerged that SoftBank owned Sprint has acquired a 30% take in Tidal, reportedly for $300 million against a valuation of $600 million. The valuation seems on the high side, but a big ticket investment works well for both parties. According to MIDiA’s latest survey data from December 2016, just 2.7% of consumers in the US, UK, Australia …
With 78 million users, streaming’s original music service remains an online radio giant -- but increasingly threatened by subscription services from Spotify to Apple Music. Now, amid layoffs and acquisition rumors, co-founder/CEO Tim Westergren is about to launch an ambitious bid for subscribers of its own: “The other products out there are unsatisfying.”
In streaming’s earlier years, when doubts prevailed across the artist, songwriter and label communities, one of the arguments put forward by enthusiasts was that when streaming reached scale everything would make sense. When asked what ‘scale’ meant, the common reply was ‘100 million subscribers’. In December, the streaming market finally hit and passed that milestone …
American consumers confirmed their new found passion for streaming in 2016, with a record 250.7 billion audio streams tracked during the year, an 82.6% increase year-on-year, according to data measurement company BuzzAngle Music.
For much of 2016 it looked nailed on that Spotify would IPO in 2017 and that the recorded music industry would move onto its next chapter, for better or for worse. The terms of Spotify’s $1 billion debt raise (which mean that Spotify pays an extra 1% on its 5% annual interest payments every …
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