Posts Tagged SoundCloud
Facebook adds new music deals, Napster partners on smart soundbar, SoundCloud denies quality loss, UK and US streaming market growth
Facebook has followed up on its recent a rights deal with UMG, with a spree of further deals, this time with music publishers Sony/ATV, Global Music Rights, SESAC’s HFA/Rumblefish and Kobalt Music Publishing. Covering Facebook, Instagram, Messenger and Oculus, the agreements cover areas such as music use within user-generated content, as well as more ways to “be your favourite artist’s biggest and best groupie”.
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SoundCloud staff reductions cut deep, Twitter strikes live-streaming deal with Live Nation, Pandora slims down its operations, internet music pioneer eMusic relaunches and Spotify defends itself from ‘fake artist’ accusations.
SoundCloud has cut 40% of its staff in a defensive move to protect its independence within an increasingly tough online music market. The decision comes despite doubling its revenue in the last 12 months, but co-founder Alex Ljung said that, alongside the cost-cutting, further growth is needed from its advertising and subscription revenue streams. Less than a week after that announcement Ljung was forced to put out a statement saying ‘SoundCloud is here to stay’. Read the rest of this entry »