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Spotify grew its customer base to 172 million paid subscribers and 381 million total monthly active users (MAUs) in the three months ending Sept. 30, the company reported Tuesday (Oct. 27). Total revenue in the third quarter was 2.5 billion euros ($2.90 billion in current dollars), up 27% on the same period the previous year Read More …

Spotify made a “passive minority investment” in DistroKid back in 2018, but didn’t disclose the size of the investment at the time. SPOT’s new filing reveals that its stake in Distrokid was worth €16 million ($18.5m) in January 2020, which then increased to €49 million ($57m) by January 2021. Source: Spotify offloads two thirds of its stake in Read More …

Sampling makes music production more accessible. You do not need to be able to play violin or saxophone to use that sound in your production. Instead, you can get some of the best sounds by the best musicians, from platforms like Splice and Tracklib, who recently raised $12.2 million to bring its pre-cleared sample platform Read More …

The estate of legendary R&B singer Luther Vandross has struck a wide-ranging partnership with Primary Wave Music that sees the company acquiring a stake in the late artist’s publishing, master recording income stream, and name and likeness rights. The company will continue a long-term partnership with the estate to manage all assets. Source: Luther Vandross Estate Strikes $40 Read More …

The FCC has its first-ever woman as Chair of the agency, Jessica Rosenworcel, who has been serving as acting Chair since the beginning of the year. President Biden officially appointed her to the position today, and nominated her for a new term — as well as FCC veteran and tireless policy advocate Gigi Sohn, who Read More …