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Digital Economy

SiriusXM had 34 million paid subscribers at the end of 2023 and Pandora 6 million

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US audio platform SiriusXM, which includes satellite radio service SiriusXM and online music service Pandora, reported full-year 2023 operating and financial results, with revenue of and $8.95 billion ($2.29bn in the last quarter of the year), which remained relatively flat compared to the same periods in 2022.

The company recorded net income of $1.26bn for the year up from $1.21bn the previous year ($352m for Q4 2023). Full-year 2023 adjusted EBITDA of $2.79 billion declined slightly at 2...

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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

IMPALA urges Apple to reconsider plans to enhance royalty rates via spatial audio

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European independent music companies' organisation IMPALA has described Apple Music's proposal to apply a 10% stream rate uplift for music available in spatial audio as a move that will have "negative consequences for parts of the industry, particularly for independent labels and their artists."

“We support moves by services to recognise sound quality in a way that is objectively fair and sustainable," said IMPALA’s Executive Chair Helen Smith. "Our invitation to Apple on this proposal is to...

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Data

Music Story seals data partnership with Japan’s streaming service Line Music

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France's music metadata company Music Story has sealed a partnership with Japan’s subscription-based music streaming service Line Music, in a deal that will allow Line Music to improve the customer experience with Music Story’s metadata.

"Music Story will provide Line Music with the technology to improve the quality of its music metadata over a broad, Japan-centric footprint," said the company. Music Story datasets combines automated processing, including AI, with music expertise.

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Digital Economy

Royalties marketplace Bolero raises €2m in a round led by XVC Tech and Newfund

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French music rights royalties marketplace Bolero has closed a €2 million funding round led by VC fund XVC Tech, VC firm Newfund and with contributions from individual investors such as French artist Petit Biscuit, Belgian rapper and producer Le Motif, entrepreneur Thierry Boyer, The Sandbox co-Founder and COO Sébastien Borget, Arianee Founder Frederic Montagnon, and Reda Berrehili, President of Ki-Foundation, among others.

Bolero said the capital increase will serve to fund the development ...

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