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Digital Economy

Spotify cruises through Q2 2022 with growth in subscribers and revenues

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The news of a global economic slowdown has yet to reach Spotify. The music streaming company posted an almost perfect performance card during Q2 2022, unlike other tech and streamers such as Netflix, with revenues up 23% year-on-year to €2.86 billion and premium subscribers up 6 million to 188 million, beating forecast.

Spotify CEO Daniel Ek welcomed "another very strong quarter in Q2," in a call with analysts. He added: "The acceleration in our user growth continued. We had a very strong be...

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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).

Creative Industries

Music deals — Week 38, 2023

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

Independent music company Concord has acquired the music publishing catalogue of Mojo Music & Media. The Mojo catalogue spans nine decades and comprises more than 30,000 songs including 89 Billboard No.1 songs, including works of bands such as REO Speedwagon, KISS and CheapTrick. This acquisition, the terms of which were not disclosed, comes just days after Concord made a recommended bid for Round Hill Music Royalty Fun...

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Creative Industries

Key figures — Week 38, 2023

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$60 billion

That's how much The Walt Disney Company is planning to invest in theme parks over the next decade, according to a filing with the SEC. In the document, Disney wrote that it will be “investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritising projects anticipated to generate strong returns.”

$22.9 million

That's Fox Corp's former Chairman Rupert Murdoch's total compensation for 2023, up 24% compared to a year ago, according to...

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Creative Industries

Quotes of the week — Week 38, 2023

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"We have reached a tentative agreement on a new 2023 MBA, which is to say an agreement in principle on all deal points, subject to drafting final contract language.   What we have won in this contract — most particularly, everything we have gained since May 2nd — is due to the willingness of this membership to exercise its power, to demonstrate its solidarity, to walk side-by-side, to endure the pain and uncertainty of the past 146 days. It is the leverage generated by your strike, in conc...

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