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Digital Economy

Spotify caps 2020 with 155m paid users but losses widen due to high operating costs

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By Emmanuel Legrand Spotify has ended a "remarkable" year, in the words of co-founder and CEO Daniel Ek, with a record number of 155 million subscribers and 345 million monthly average users (MAUs), respectively up 24% and 27% year-on-year, but the music streaming service's losses have widened during the year. "Despite the global uncertainty of 2020, it was a remarkable year for Spotify," said Ek. "Following a strong Q2 and Q3, Q4 met or exceeded our guidance by nearly every metric." "In 2020, ...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Collective Management Organisations

Pex launches rights organisation RME-Rights Made Easy to provide digital attribution and royalty payments services

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Digital rights technology company Pex has launched RME-Rights Made Easy, described as a "digital-first rights management organisation, to provide proper attribution and transparent royalty payments for creators worldwide.

Pronounced R·ME, the new collection organisation said in a blogpost that its purpose it "fighting for fair and accurate royalty payments by bringing pay-per-play licensing, the lowest transaction fees, and the most advanced technology available to an industry unwilling to ...

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Digital Economy

Google shuts down gaming platform Stadia

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Google is "winding down" its games streaming service Stadia after just three years operating, due to a lack of traction with users.

The news was announced via a blogpost from Phil Harrison, Vice President and General Manager of Stadia. "A few years ago, we launched a consumer gaming service, Stadia," wrote Harrison. "And while Stadia's approach to streaming games for consumers was built on a strong technology foundation, it hasn't gained the traction with users that we expected so we’ve made...

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Creative Industries

Marathon LABs’ accelerator programme focuses on tackling value creation

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Marathon LABs, the startup mentoring initiative from London-based Marathon Music Group, has selected six companies that will take part in its fourth ‘LABs’ with a programme focusing on tackling value creation.

Marathon said the six participating companies "operate within a broad music & tech ecosystem centering on web3 applications, live entertainment within metaverse environments and broadening access to financial and data analytics for artists and their teams."

Marathon's Alexandra...

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