Record label income grows amid rise in streaming subscriptions March 21, 2019 UK recorded music revenues rose more than three per cent last year as the popularity of streaming services shows no signs of slowing. New figures from trade body BPI revealed record label revenues hit £865.5m in 2018, the highest level in almost a decade. Read more: Music streaming revenues overtake ownership for the first time [...]
Revamp media regulation to help broadcasters take on Netflix, BBC chairman urges March 18, 2019 The UK’s media regulation must be overhauled to protect public service broadcasters from rivals such as Netflix, the BBC chairman said today. Speaking at the Oxford Media Convention this morning, Sir David Clementi said existing regulation is not fit for the digital age and must be updated to ensure British broadcasters can take on global [...]
Apple slams Spotify for wanting ‘benefits of a free app without being free’ March 15, 2019 Apple has hit back at Spotify’s EU competition complaint, saying the streaming service wants “all the benefits of a free app without being free”. Earlier this week Spotify filed a complaint with EU competition authorities over the way the tech giant’s App Store works. Read more: Spotify reports Apple to EU commission over antitrust concerns [...]
Spotify reports Apple to EU commission over rules which ‘disadvantage’ app developers March 13, 2019 Spotify fired a broadside at Apple today as it reported its rival to the EU competition authorities over the way that the tech giant's App Store works. Chief executive Daniel Ek blasted what he called an "Apple tax" which forces his company to pay a 30 per cent commission for sales made via Apple's payment system. [...]
Music streaming revenues overtake ownership for the first time amid shift to ‘rental’ market March 4, 2019 The popularity of subscription services reached record levels in the UK last year as music streaming revenues overtook ownership formats for the first time. Revenues from paid-for music subscription services such as Spotify jumped 39 per cent last year to £829m, meaning subscriptions now account for 62 per cent of all music revenues, according to figures [...]
Picture perfect: Pinterest confidentially files for IPO in the latest up and coming tech float February 22, 2019 Pinterest has reportedly filed for an initial public offering (IPO), as Silicon Valley gears up for a busy year of tech startup listings. The online image search platform, known for the food and fashion photos its users post, is planning for a late-June listing and is seeking a valuation of at least $12bn, it is reported. Read [...]
Revolut’s Valentine’s Day advert caused a social media storm – and shows the pitfalls of using comedy in marketing February 11, 2019 Roses are red, violets are blue, there’s a company in hot water and it’s called Revolut. The fintech challenger bank, which offers a mobile-based banking service, recently launched a new ad campaign of Tube posters that joked about the spending habits of its customers. One of the four adverts read: “To the 11,867 people who [...]
Spotify posts its first quarterly profit as paid subscriptions near 100m February 6, 2019 Spotify has made its first ever quarterly profit, it said today, as it revealed results for the three months to the end of December. The figures The Stockholm-based firm posted an operating profit of €94m (£82.5m), as well as a 29 per cent rise in revenue in the fourth quarter thanks to an increased number of paid [...]
Canadian vinyl record shop boss Doug Putman joins bidding war for HMV February 3, 2019 Canadian vinyl record tycoon Doug Putman has made a dramatic late bid to snap up collapsed music store HMV in a move that could hamper Mike Ashley's takeover plans. Douglas Putman, who owns Canadian chain Sunrise Records, has entered the auction and is now the front-runner ahead of the Sports Direct tycoon, according to media reports. [...]
Hacking Wall Street: Are tech unicorns about to disrupt stock market flotations? January 21, 2019 Tech companies have changed the way we chat, bank, travel and date. Are they about to disrupt capital markets too? “In [Silicon] Valley there’s always been that mentality: how do we hack Wall Street?” says Rob Kniaz, a founder of tech-focused venture capital firm Hoxton Ventures. Two weeks ago reports broke that Slack, the workplace [...]