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Digital Economy

Spotify had 236 million paid subscribers at the end of 2023, up 15% over 2022

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Spotify finished the year with 236 million paid subscribers, up 15% compared to the same figure a year before, and the audio streaming service added 28 million Monthly Active Users (MAUs), to 602 million at the end of the quarter, up 23% year-over-year.

Spotify's Monthly Active Users

During the last quarter, Spotify added 10 million new paid sus=bscribers, contributing to record full year net additions of 31 million. Total advertising-supported MAUs reached 379 million, up 28% year-over-ye...

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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

TikTok’s Add To Music App is now available in 184 countries

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TikTok has rolled out its Add To Music App in 163 new countries, bringing to 184 the number of countries where the service is available.

The feature gives music users the ability to save the songs they discover on TikTok on the music streaming services of their choice. Partners include the major music streaming services such as Amazon Music and Spotify.

“With Add To Music App, we are streamlining the music discovery experience for both TikTok users and artists,” said Isaac Bess, Gl...

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Copyright & Regulation

Apple to be fined €500 million by the European Commission over streaming services’ access to the App Store — Report

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The European Commission is preparing to fine Apple up to €500 million for competition issues related to music streaming services' access to the app store, according to a report from the Financial Times.

The FT added that the fine was one of the most significant financial penalties the Commission has imposed on big tech companies. The newspaper, which cites "five people with direct knowledge of the long-running investigation."

The fine is expected to be announced early next month foll...

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Digital Economy

Nvidia invests $3.67m in SoundHound AI

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Chipmaker Nvidia has disclosed that it has invested $3.67 million in SoundHound AI, a Santa Clara, California-based company specialised in voice artificial intelligence.

The disclosure of the investment, made via a in a Securities and Exchange Commission 13F filing, sent SoundHound's share up 55% on the day it was announced. Nvidia, whose market capitalisation now exceeds that of Amazon and Alphabet, first invested in SoundHound in 2017.

SoundHound is expected to release its 2023 full ye...

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