SiriusXM is laying off 160 employees, about 3% of its workforce, as it refocuses on digital streaming and in-car technology amid growing competition from on-demand audio platforms. The company has struggled with slowing revenue growth, a declining self-pay subscriber base,…
Universal Music Group reported a 6.5% revenue increase in 2024 to $12.8 billion, with subscription revenue up 8.2% despite a 5.1% drop in streaming revenue. Cost-cutting through layoffs boosted profits, with adjusted EBITDA rising 13.8% to $2.88 billion. UMG emphasized…
From the Archives examines how MOG laid the foundation for modern music streaming. Launched in 2005, MOG evolved from a social music platform into a high-quality streaming service, pioneering features like personalized recommendations, multi-platform accessibility, and in-car streaming. Acquired by…
Spotify reported its first full year of profitability in 2024, with revenue rising 16% year-over-year to €4.2 billion and operating income reaching €477 million. Monthly active users grew 12% to 675 million, while subscribers increased 11% to 263 million.
Warner Bros. Discovery has formed a $1 billion joint venture with UK-based Cutting Edge Group to license its movie and TV show music catalog. Unlike recent artist catalog sales, WBD retains ownership and creative control while generating substantial revenue. The…
Spotify paid a record $10 billion to the music industry in 2024, bringing its total payouts since 2006 to nearly $60 billion. The company estimates that over 10,000 artists now earn at least $100,000 annually on its platform, a significant…
Spotify and Universal Music Group have signed a multi-year deal to expand subscription tiers, bundled offerings, and audiovisual content, aiming to boost fan engagement and monetization. A new direct license with Universal Music Publishing Group enhances songwriter royalties, while Spotify…
LiveOne reports 450,000 Tesla owners stream content via its app, with 100,000 using the ad-supported tier. Despite Tesla ending subsidies for premium audio, the partnership continues through 2026, showcasing LiveOne's B2B success. CEO Rob Ellin hinted at new partnerships in…
TechCrunch analyzes how Spotify Wrapped has influenced a wave of year-in-review features streaming services. The "Wrapped" trend capitalizes on user engagement by delivering personalized insights, and reinforcing loyalty.
Drake’s feud with Kendrick Lamar just went full R.I.C.O. as he sues Universal Music Group for allegedly juicing streams of Lamar’s diss track Not Like Us with bots and payola. UMG fired back, calling the claims “contrived fairytales,” but it…
