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Key figures — Week 46, 2022

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$13.8 billion

That's the total spending on Augmented Reality (AR) and Virtual Reality (VR) expected this year, growing up to $50.9 billion in 2026, according to IDC reports. VR will take up 70% of AR/VR spending in 2022-2026. US and China to be the top two contenders for AR/VR spending.

$10 billion

That's how much TikTok is expected to earn in online advertising revenue in 2022, a 150% growth year-on-year, according to the short format platform forecast. Data firm Omdia estim...

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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).

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Digital Economy

Amazon raises the monthly subscription fee to its music service from $9.99 to $10.99

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Amazon has informed its customers that it will rise the monthly subscription price for its music subscription plan in selected markets.

Consequently, as of February 21, 2023, in the United States, the Amazon Music Unlimited Individual Plan is changing from $9.99 to $10.99 per month, while the Amazon Music Unlimited Student Plan is changing from $4.99 to $5.99 per month.

In the UK, the Amazon Music Unlimited Individual is moving from £9.99 to £10.99 per month, with the Unlimited Student ...

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Digital Economy

Sound Royalties reports a 90% growth in business volume during 2022

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Music finance platform Sound Royalties has reported a 90% growth in its business volume to fund and support creators.

“This huge leap in volume is a testament to our commitment to this community,” said Sound Royalties President Michael Bizenov. “It speaks our artist friendly programmes for music creatives who are seeking to invest in their careers and businesses.”

Sound Royalties did not disclose the exact amount of capital that has been shared with creators. The company provides access t...

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Warner Music Group partners with digital fashion retailer DRESSX

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Warner Music Group (WMG) has acquired a minority share in digital fashion retailer DRESSX, in a deal that will bring the fashion metaverse to WMG's artists.

The partnership will "enable artists to unlock new revenue streams, while creating additional outlets for fans to showcase their fandom across multiple digital worlds," according to a statement from the company.

WMG said the first-of-its-kind partnership will "provide a platform for select WMG artists to design their own virtual fashi...

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