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Digital Economy

Tencent Music Q1 2023 revenues boosted by a 30.4% growth in music subscriptions

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Tencent Music Entertainment Group — which operates online music and audio entertainment platform QQ Music, Kugou, Kuwo, and WeSing in China — has posted revenues of RMB7.00 billion ($1.02bn) for the three months ended March 31, 2023, up 5.4% year-over-year.

Revenues from music subscriptions reached RMB2.60bn ($378m), up 30.4% y-o-y, boosted by a 17.7% increase in paid subscribers to 94.4 million compared to the same quarter last year, or up 5.9 million users compared to the previous qu...

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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 starts a campaign in the USA to crack down on password sharing

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Netflix has started a campaign in the US to reduce the number of shared passwords within one household. The campaign, which launched in other territories such as Canada or Spain earlier this year, is aimed at curving the sharing of password to grow its subscribers' base and revenue.

The video streaming service has started sending on May 24 an email to members who are sharing Netflix outside their household in the United States. "A Netflix account is for use by one household," said the compan...

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Digital Economy

Instagram’s Director of Music Partnerships Perry Bashkoff among the 6,000 Meta Platforms employees losing their jobs

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The latest round of layoffs at Meta Platforms-owned Instagram includes the social network's Director of Music Partnerships, Perry Bashkoff.

In a posting on LinkedIn, Bashkoff confirmed that he was part of the 6,000+ Meta employees who have been let go by the company. "Yes, I was one of them," he wrote.

He continued: "I’ve been one of the lucky ones who has had a 25+ year career run without pause. The last 5 spent at Instagram/Meta bringing music to the masses, building tools, breaking ar...

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Creative Industries

Quotes of the week — Week 20, 2023

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"The building blocks of music belong to us, to human beings. That's going to be a battle we all have to fight in the next couple of years: Defending our human capital against AI."By British singer and songwriter Sting, talking about AI and music to the BBC after receiving an Ivor Academy Fellow, joining an exclusive club of only 27 other fellow songwriters.

“[The UK government] is less committed to basic property rights than the Chinese Communist Party."By Universal Music Grou...

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