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05 April 2017, 01:47 | Shelley Chandler
Spotify Inks Deal with Universal Music Group, Moves Closer to IPO
Universal Music boss Sir Lucian Graingesaid: "Today, streaming represents the majority of the business".
Universal artists including Taylor Swift will be able to offer new albums to paid subscribers only for two weeks, with singles available on the free service, the companies said in a statement on Tuesday. According to the Recording Industry Association of America, music creators earn $1 for every 1,000 streams of a song on YouTube but earn at least $7 for every 1,000 streams on Spotify or Apple Music.
Negotiations between the labels and the streaming service were stuck because of Spotify's large number of free users. Swift ultimately favored Apple Music, while Drake released an album as an Apple Music exclusive. By adopting windowing for big releases, Spotify is adding a major incentive for free users to upgrade - though it could also send listeners elsewhere, like YouTube, which has an ad-supported tier as well, or back to piracy. "I congratulate Daniel on Spotify's continued growth and innovation, and I look forward to working together with him and his team to develop exciting new ways to connect artists and fans around the world".
"Our challenge is transforming that upturn into sustainable growth", Grainge said. And that will give Spotify a big boost as it prepares to go public in 2018. Spotify, which now boasts more than 50 million paid subscribers, argued that its free service helps bring in new customers that are eventually converted to its paid service. Singles will remain available to everyone.
"Working hand-in-hand with these digital services brought us the industry's first real growth in almost two decades".
Under the current deals, the music giants have reaped 55 percent of the Spotify-revenues, while artists have cut out another 10 to 12 percent. Now with various streaming services offerings millions of songs at the touch of a button, the motivation to actually pay for music has nearly completely diminished.
Hong Kong targets activists day after vote
The other two bodies are the Foreign Ministry Office of the Hong Kong Commissioner and the People's Liberation Army. Lam denied knowledge of a crackdown, but said that "the rule of law" should still be upheld.
PV Sindhu overcomes Marin peak
The final match between PV Sindhu and Carolina Marin at the India Open is tentatively scheduled for 06:00 pm IST. The lanky Indian raced to a 4-0 lead in the second game and maintained a five-point lead at 15-10.
Mike Epps sorry for dancing with kangaroo on Detroit stage
While Detroit rapper Tee Grizzley blared through speakers inside Joe Louis Arena, Mike Epps held a kangaroo by a harness. Epps also used his wallet to apologize and revealed he would be making a donation to the Save the Kangaroo foundation.
Kei Nishikori, Jack Sock reach Miami Open quarterfinals
The Swiss Maestro followed up his Australian Open triumph with a win at Indian Wells , the 35-year-old's 25th Masters 1000 title. Also scheduled to play Tuesday were Stan Wawrinka, Rafael Nadal and Roger Federer - on a day of significance for each.
Check Out First Look Trailer for Game of Thrones Season 7
Jon Snow, recently proclaimed King in the North (and, who we now know, is actually a Targaryen) takes his seat at Winterfell . A new official promo for the seventh season of the legendary HBO series Game of Thrones was released on Thursday.
PM inaugurates longest road tunnel link
The passage of traffic through the tunnel will result in a daily saving of Rupees 27 lakhs in terms of fuel used by vehicles. The PM said, "This tunnel will not only shorten the distance between Srinagar and Jammu but is a big leap of development".
Konta downs Venus to reach Miami final
She held her serve but was broken back in her second service game. "I remember I played very well that match". Without that, I don't think it makes.victories as sweet and I think also the defeats as motivating.
Former Trump campaign boss had ties with Russian Federation
Manafort's former business partner in eastern Europe, Rick Gates, has been seen inside the White House on a number of occasions. Mr Manafort confirmed that he worked for Mr Deripaska but said the work was being unfairly cast as inappropriate.