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Digital Economy

Fave raises $2 million in a funding round supported by Sony Music and Warner Music

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2 months ago

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Warner Music Group and Sony Music Entertainment are among the investors in Fave, the app serving superfans, in the current funding round that has raised so far $2 million, according to TechCrunch.

The round, also backed by returning investors such as the Female Founders Fund, is expected to exceed $6m, which will add to the $2.2m previously raised in 2021, bringing the company's current valuation at $15 million.

Fave on mobile phones

“[Fave] will continue to experiment to land on the ...

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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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Creative Industries

Quotes of the Week — Week 46, 2023

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3 days ago

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December 1, 2023

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"When I decided to join Microsoft, it was clear that was the best path for me and the team. With the new board and with Satya’s (Nadella) support, I’m looking forward to returning to OpenAI, and building on our partnership with Microsoft."By Sam Altman, explaining on X why he is back at the helm of OpenAI three days after being sacked by the board, hired by Microsoft, receiving the support of 700 out of 770 Open AI employees, and re-hired as CEO of the company. Even ChatGPT would not have been ...

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Creative Industries

Key figures — Week 46, 2023

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3 days ago

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December 1, 2023

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$2.8 trillion

That's the market capitalisation of Microsoft, following the announcement that the tech company had hired Sam Altman a day after he was fired by the board of OpenAI. Microsoft's market cap is now worth over $1 trillion more than that of Google.

$40 billion

That's how much Spotify has paid in royalties to rights holders since its launch in 2008, according to a blogpost from the music streaming company.

26.1 billion

That's the total number of streams accumulated by Ta...

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Creative Industries

Main stories — Week

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3 days ago

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December 1, 2023

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These are the main stories published in the past week by Creative Industries News:

LEAD STORY> European Parliament’s Culture Committee adopts a report calling for ‘a fair and sustainable ecosystem for music streaming’

COPYRIGHT & REGULATION> Indie labels and performers’ organisations call for the EU to find a legislative solution to recording’s performance rights payments> Uruguay’s adoption of equitable remuneration criticised by Spotify and WIN> Europe’s AI Act c...

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