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Digital Economy

AiMi raises $20 million to develop an AI-powered music creation platform

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AI-powered platform AiMi has raised $20 million via a Series B round of funding, by the entertainment and media-minded Great Mountain Partners, an investment firm with over $5 billion of assets under management focusing on various sectors, including Media & Entertainment.

AiMi said the new funding marks "the beginning of a brand new chapter for the groundbreaking generative music platform." The platform has the capacity to deliver endless, immersive compositions crafted by artists and po...

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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

Netflix’s share price stumbles as the video streaming service faces increasing competition

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Netflix shares went down 22% at the end Friday January 21, following disclosure that subscription growth is slowing down and that the video streaming service is facing increasing competition in the US and abroad. On Monday Jan. 24, the share price dropped another 2.6%.

The drop in value wiped out some $45-50 billion of Netflix's market value. Netflix reported it added 8.28 million global paid net subscriber during Q4 2021, which was within market expectations, but the company also said it wo...

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Digital Economy

OpenPlay names Jonathan Bender Chief Operating and Growth Officer

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Los Angeles-based platform for asset and catalogue management OpenPlay has hired former SoundExchange executive Jonathan Bender as Chief Operating and Growth Officer.

In his new role, Bender will oversee client operations and expansion of the business into new markets both in the US and globally. OpenPlay said Bender brings "an unparalleled wealth of experience to OpenPlay which will be invaluable as it expands its client base and service offerings."

“OpenPlay is by far the most adva...

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Digital Economy

Adaptr signs music licensing deal with British indie Beggars Group

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B2B music licensing service Feed Media Group, operator of subscription-based platform Adaptr, has signed a music licensing deal with British independent music company Beggars Group.

Adaptr provides start-ups with pre-cleared licensed music to drive their businesses. "This deal with Beggars provides access to the company’s vast catalogue of critically acclaimed and influential artists," said the two companies in a statement. Beggars Group includes independent labels such as 4AD, Matador, Roug...

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