Such lawsuits are not uncommon in the music industry and even pose as a revenue stream for music companies. UMG generated $75 million from its $3 billion Q3 revenue, resulting from a lawsuit.
Let's rewind to October, where amongst the many posts published, these five stories stood out as the most read [in that particular order].
Wall Street is turning its attention to diversifying its portfolios into music, tapping into the potential revenue streams the music industry offers.
Dunnie has since worked with leading artists such as Burna Boy, Wande Coal, Yemi Alade, KiDi, Falz, Oxlade, Becca, Busiswa, Sean Tizzle, and more.
The concert giant records 140 million tickets sold year-to-date for its shows [up 17% YoY]; already surpassing the total of 121 million tickets sold in 2022.
UMG's roster of top-selling artists such as Taylor Swift, SEVENTEEN, Morgan Wallen, Olivia Rodrigo, King & Prince played a crucial role in driving its financial performance last quarter.
While changing the rules of a game that has been for 15 years is bound to have its winners, losers, or unforeseen consequences; 1000 streams over 12 months (80+ streams monthly) is not unattainable.
Egypt stands strong with 84 million streams across more than 230 songs, at a similar level to South Africa's 86 million streams but slightly behind Nigeria's 115 million streams in October.
Despite a three-year head start, South Africa contributed 86 million streams on Spotify across more than 270 songs, in comparison to Nigeria’s 115 million streams across over 250 songs.
Spotify's market cap currently sits at a staggering $31.50 billion, with a peak share price of $179.84 back in mid-July.
Major releases by OdumoduBlvck, BNXN, and Shallipopi helped shape October's market-share rankings for their respective labels/distributor.
Believe acknowledges that ad-funded streaming monetization remained relatively weak, specifically in Asia Pacific/Africa and Europe regions.