Frank Briegmann says UMG’s “artist-centric” streaming model and "Streaming 2.0” tiered pricing will drive industry growth.
Although recent reports indicate declining subscription growth, insiders expect it to grow at a healthy pace in the long term via price hikes and increased penetration rates in emerging markets.
SoundCloud users are much more attuned to new releases than the average listener, with current music accounting for more than 46% of plays on the platform in recent years.
Apple today (March 25) announced that the new DJ With Apple Music integration will allow DJs to make selections from the DSP's catalog of over 100 million songs.
Infinite Reality, a digital media and e-commerce company, has been on a buying spree in the last 18 months, spending over $1 billion on acquisitions.
The trio of reports revealed continued subscription growth but smaller improvements than in previous years as the major labels increasingly look to small and developing markets.
The French music streaming service paid out an average of $0.018732 per stream in the year ended March 31, 2024.
The company also announced a $273 million dividend and a $1 billion share repurchase program.
The Paris-based streaming platform reported 7 million euros of free cash flow after breaking even in the second half of its fiscal year 2024.
Streaming revenue accounted for 84% of the $17.7 billion generated last year.
