7. Splice acquires ​Superpowered​, New Spotify promotional offers, Sony Music revenue warning, Billie Eilish Cancels & More!

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Transcript / Notes:

In today’s episode we have acquisition news from Splice, word on a new Spotify promotional offer, the most successful songwriter in the world right now and a warning from Sony Music.

This is Fast Music News

Just last week music creation platform Splice announced that they have seen record activity during the lockdown period. Now they are back in the news again having just acquired audio technology company Superpowered.

Spotify have launched a new worldwide promo campaign offering all new members a three month premium subscription for free. The streaming giant will also try to lure back users who have cancelled subscriptions in the past with a special deal where they can get 3 months of premium for just $9.99.

The NMPA have announced that LIL BABY was the most successful songwriter in the USA in the first quarter of 2020. In total his songs were RIAA-certified 22 times.

Sony Music have warned shareholders that their 2020 revenues will be affected by delays in new music and video recordings due to Covid-19. Their revenues for Q1 were up 13.5% year-on-year.

Sweedish Production music company Epidemic Sound have announced that they plan to make 19% of their 41 staff redundant. A statement from the company stated that the Covid-19 pandemic played a role in the decision but it was a “realignment” rather than a sign that they are struggling as a business and that this was not a revenue-driven decision.

Google Play will shut down later this year. Google are now starting to push users across to their YouTube Music service. YouTube Music now has a new ‘transfer button’ to help Google Play users migrate their music.

Pop Star Billie Elish has postponed all remaining dates of her world tour due to the CoronaVirus pandemic.

This has been your Fast Music News Update.

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