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Digital Economy

eMarketer forecasts that US paid subscribers to audio streaming services will reach 121.9 million at the end of 2021

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The total number of paid digital audio subscribers in the US is expected to reach 121.9 million at the end of 2021, up 11% over 2020's figure of 109.6 million, according to estimates from eMarketer.

The research company said that it has increased by 5 million its estimate for 2021 since its latest forecast in Q1, "indicating more listeners will be subscribing to audio than previously projected," according to eMarketer. There were 92 million paid subscribers in the US at the end of 2019.

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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).

Digital Economy

Licensing marketplace Wavetick goes live

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Following a comprehensive Beta phase, online licensing marketplace Wavetick has launched its full platform described as a "creator-created, creator-friendly platform" providing "super-simplified licensing capabilities" for buying and selling music for production (Tracks) and short form musical components (Sounds).

The UK-based company, founded in 2023 by music tech entrepreneur Sharooz Raoofi, operates with no upfront cost for users and enables licensors of music rights to receive instant pa...

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Creative Industries

Music deals — Week 9, 2024

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Here's a list of some of the main music deals announced in the past weeks:

Mavin’s Don Jazzy

Universal Music Group (UMG) has taken a majority share in Mavin Global, an independent music company from Nigeria. Terms of the agreement were not disclosed. The deal, which remains subject to regulatory approval, is expected to close by the end of Q3 2024. The Lagos, Nigeria-based label was founded in 2012 by artist, producer, music executive and entrepreneur Michael Collins Ajereh (aka Don Jazzy)...

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Creative Industries

Key figures — Week 9, 2024

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€11.108 billion

That’s Universal Music Group's revenue for 2023, up 7.4% year-over-year (or 11.1% in constant currency). The company's adjusted EBITDA reached €2.37bn, up 11.0% year-over-year, or 14.6% in constant currency, and net profit was €1.26bn.

€9 billion

That’s how much Spotify has paid rights holders in 2023, according to the music streaming platform's latest Loud&Clear report. In 2023, indies generated €4.5bn on the platform.

$740.8 million

That’s how much creators ...

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