UK recorded music revenue rises for eighth consecutive year
The British Phonographic Industry (BPI) have today reported that UK recorded music revenue rose by almost 5%, to the tune of £1.32 billion last year.
Business
Adidas warns of major dent to profits after cutting ties with Kanye West
Adidas has again warned of a major impact to profits, potentially close to £500m, as a result of ending the company’s partnership with Kanye West last year.
Disney+ has lost subscribers for the first time | Sequels for Toy Story, Frozen and Zootopia in the works
Sequels for Toy Story, Frozen and Zootopia are “in the works” with the hopes that Disney can turn the tide on their streaming service.
Spotify to cut 6 per cent of jobs
Spotify has announced it will cut 6 per cent of its employees, with boss Daniel Ek admitting he was “too ambitious” and “takes full accountability” for the job loss.
Vinyl outsells CDs for the first time in 35 years with music sales at highest since 2003
A resurgence in vinyl sales is nothing new, but for the first time in three-and-a-half decades, it’s now surpassed the sale of CDs.
Apple Music now has 100 million songs – 21 years since iTunes was launched
Apple Music now boasts 100 million songs, 21 years since the invention of iTunes and the first release of the iPod.
NFT Trade Plummets By 97 Per Cent Since Start of the Year
Trading volumes of NFTs, have fallen by 97 per cent from their peak in January this year, according to data from Dune Analytics.
Future sells publishing catalogue in a reported eight-figure deal
Future has sold his publishing catalogue from 2004 to 2020 to a US-based music and rights company, for a reported eight-figure fee.
Cineworld is filing for bankruptcy
Cineworld Group is the second largest cinema group in the world and it looks like their troubles have led them to file for bankruptcy.
SoundCloud to cut fifth of workforce
Audio platform SoundCloud has confirmed it will be laying off almost 20% of its workforce.
One in five nightclubs have shut since the start of the pandemic
There are a fifth fewer nightclubs in Britain since the country’s first lockdown in March 2020, according to figures from the Night Time Industries Association.
British music exports reach new record high, on course to hit £1 billion
The value of British recorded music exports grew by almost 14% last year, bringing in around £590.8 million – the highest annual figure since records began.
Spotify acquires music trivia game Heardle
Spotify has announced its acquisition of music-based trivia game Heardle, for an undisclosed fee, and plans to "integrate" it into its app.
Coinbase Launch NFT Marketplace Platform
Cryptocurrency (I warned you) company Coinbase has waded into the NFT industry, launching a new online marketplace to trade digital tokens.
Netflix Losing Subscribers, Considering Introducing Adverts
For the first time in over a decade, Netflix has lost subscribers. To battle its losses, the streamer is considering introducing adverts with a lower subscription fee.
UK Streaming Subscription Numbers In Decline According To New Study
Research firm Kantar reported that 1.51 million subscriptions were cancelled in the first quarter of 2022.
