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Digital Economy

NetEase Cloud Music renews licensing agreement with Japan’s Avex

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China's music streaming service NetEase Cloud Music has renewed its licensing agreement with Japanese entertainment company Avex, granting NetEase Cloud Music access to Avex's music catalogue in China.

According to NetEase, both parties will collaborate "to promote the presence of prominent and fan-favorite J-pop artists and content" and "utilise their advantages to unlock more opportunities and bring fans closer."

NetEase said Cloud Music has been "actively broadening its portfolio ...

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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

Spotify had 239 million subscribers in Q1 2024, up 14% compared to Q1 2023

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Spotify has reached a new milestone — for the first time in its history, the audio streaming service has posted gross profits in excess of €1 billion (€1.004bn to be specific) during the first quarter of 2024, reflecting the new strategy focusing on profitability and revenue growth.

During the quarter, total revenue reached €3.6bn, up 20% year-on-year, with operating Income improved to €168m. Gross Margin reached 27.6%. Premium Revenue grew 20% y-o-y to €3.24bn, reflecting subscriber growt...

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Copyright & Regulation

US House passes law forcing TikTok to change ownership or get banned in the US

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The US House of Representatives has passed legislation on April 20 that could ban TikTok in the United States unless the short-format app does changes ownership within a timeframe of nine months, that could be extended to twelve in there are meaningful discussions with a buyer.

The legislation, which echoes a similar text passed six months ago by the House, was included in the foreign aid package to Ukraine, Israel and Taiwan. It will now go to the Senate for final approval in the coming da...

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Digital Economy

Netflix added 9.3 million subscribers in Q1 2024 for a total of 269.6 million customers

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Netflix's revenue grew by 14.8% to nearly $9.4 billion during the first quarter of 2024, while operating income was up 54% year-on-year to $2.6 billion, according to the video streaming services' quarterly results.

Netflix reported that it has reached a total of 269.6 million subscribers worldwide, after gaining 9.3 million new customers during the quarter, a 16% growth rate year-on-year. The service said most of the gains in subscribers came from people registering for the ad-supported tie...

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