In today’s episode Spotify’s big podcast move pays off, we have news from the dance music world and some interesting data from Vevo.
Transcript / Notes:
In today’s episode Spotify’s big podcast move pays off, we have big news from the dance music world and some interesting data from Vevo.
As you have probably already heard Joe Rogan has signed a multi-year exclusive licensing deal with Spotify. The deal will see the incredibly popular, ‘Joe Rogan Experience’ podcasts and videos move exclusively to Spotify. Unconfirmed reports state the deal may have cost Spotify more than 100 million dollars.
The market has reacted extremely positively to the news. Spotify’s market cap is up by nearly 4 billion dollars since the announcement.
Spotify has also become the latest tech company to reveal their plan for remote work. All employees of the company will be free to work from home until at least 2021.
A study by music video platform Vevo has shown music video consumption is up. Content in the family-viewing genre has seen a particularly big spike in interest since the CoronaVirus pandemic. This suggests that families have been watching more music videos together during the lockdown.
Influential South African DJ, Black Coffee has acquired a large stake in South Africas oldest independent label, Gallo Music. The investment was made through the DJ’s investment firm FlightMode Digital.
Black Coffee has stated that this is the first of many moves they are working on to change the landscape of both the South African and African music industry.
Following the news we reported on WME’s huge cutbacks, former head of electronic music, Joel Zimmerman has reportedly left the company. Zimmerman has been a highly influential figure in the global dance music industry since joining the agency in 2008.
This has been your Fast Music News Update.
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