Music News Recap: Amazon Reportedly Expanding Streaming, SFXE Declares Bankruptcy, Cür Music Launches
Posted by Glen Sears | February 1, 2016 10:06 am | No Comments
Amazon Reportedly Preparing to Launch Standalone Music-Streaming Service
Story of the Week
According to the New York Post (who themselves cite unnamed music industry sources), Amazon is prepping a Spotify-killer. The e-commerce giant has held meetings in the past few weeks to discuss licensing tunes for a full-blown subscription music service that would ape streaming music market leaders Spotify and Apple Music, several sources confirmed.
Amazon already has a music streaming service: Prime Music. The service has launched in the world’s four biggest music markets, and is enjoying moderate success. Yet the service is bundled into Amazon’s Prime membership program, with a small 1.4m-tracks catalogue tuned for mainstream listening. The planned stand-alone music streaming service would come with its own monthly fee. “The music industry wants to see all the tech giants fighting it out to try and really take streaming to the mainstream,” one music industry insider said.
As downloads decline and streaming grows, it may make strategic sense for Amazon to prepare a replacement for its MP3 store – but only if this most data-driven of companies identifies an audience of music fans for whom Prime Music won’t be enough—or of Prime Music users who’d be ripe for an upgrade using their billing relationship with Amazon.
Top Music News Headlines
Cür Music launches to compete with streaming heavyweights. The “hybrid streaming service,” with support from Universal Music Group, Sony Music Entertainment and Warner Music Group, intersects internet radio services like Pandora and on-demand services like Spotify.
Spotify Raises Half a Billion — Can It Hold Off Apple Music? Spotify wants to have enough capital for any “consolidation opportunities” that arise, like its 2014 acquisition of The Echo Nest or Seed Scientific in 2015.
Apple’s Free iTunes Radio Has Shut Down. As signaled, Apple’s free ad supported iTunes Radio shut down last week, with the Pandora-like online radio service now only available for Apple Music paid subscribers.
SFX Files For Bankruptcy, Sillerman to Be Replaced as CEO. The company says it will to eliminate “more than $300 million” of its $490 million of debt in part by turning the majority of bondholder debt into equity.
YouTube Wins Latest Round With German Collection Society. The Munich Regional Appeal Court ruled against GEMA, which argued that YouTube is technically a music service and therefore responsible for the infringing content found on its site.
Record Labels Accuse MP3Tunes Founder of Separating from Wife to Hide Assets. “Indeed, the timing is highly suggestive that Robertson may have separated from Burcham for the precise purpose of shielding assets from his creditors.”
Is This The End Of AM Radio? Bobby Owsinski claims that with numerous technological changes taking place, demand for AM radio has been steadily dropping—electric cars like the Tesla Model X or BMW i3 don’t install them since the AM reception is impossible due to the internal electrical noise of the car.
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