Spotify Posts 11% Revenue Boost & Reverses Previous Quarter’s Operating Loss

Spotify has confirmed the streaming thresholds for its new royalty model.Reports emerged last month that the streaming giant’s restructuring would mean that less popular tracks wouldn’t earn any royalties, despite the company reporting profits and subscriber gains.According to a Billboard report, a track would have to meet a minimum annual streaming threshold before it would start to generate royalties.However, the streaming threshold at which tracks will generate royalties has now been confirmed in a Consequence guest column by Kristin Graziani, president of music distribution platform Stem.“After doing some analysis on what Spotify has actually communicated to distributors, we can say that in reality, these changes are intended to benefit emerging and growing artists,” Graziani wrote.According to the article, Spotify is introducing three new policies in 2024. Firstly, all tracks will have to reach a minimum streaming threshold of 1000 streams within 12 months to be paid a royalty.

Apex Legends has announced what is in store for players in its Post Malone-themed event, after a teaser from the rapper and songwriter himself was revealed in October.Post Malone has expressed his enthusiasm for Apex Legends in the past, bestowing it the award of being his favourite battle royale game. The “biggest partnership in Apex Legends history” begins on November 7 and will last for a fortnight.The new game mode has been designed for his “love of The Games”, titled Three Strikes.

The world’s most valuable company narrowly topped estimates but saw another revenue dip — its fourth in a row — with sales down about 1% to $89.5 billion for its fiscal fourth quarter.

Steven J. Horowitz Senior Music Writer In the wake of massive summer tours from Taylor Swift and Beyoncé, Live Nation has announced yet another record-breaking quarter in Q3 of 2023, with revenue up 32% to $8.2 billion and up 36% to $16.9 billion so far this year.

Todd Spangler NY Digital Editor Trevor Noah is entering his next act as a podcast host. The former host of Comedy Central’s “The Daily Show” launches his deep-dive interview show, a Spotify original podcast, next week. In each episode of the new podcast, Noah will have an extended discussion with a single guest.

Jungkook, a member of K-pop boyband BTS, has broken the record for the fastest song to reach 1billion streams on Spotify.Today (October 31), Spotify announced on Twitter that Jungkook’s debut solo single, ‘Seven’ featuring Latto, became the fastest song to reach 1billion streams on the streaming platform on Monday (October 30).On October 30, Jung Kook's "Seven (feat. Latto)" became the fastest song to reach 1 Billion streams in Spotify history.

Spotify has revealed that Taylor Swift has broken two new records on the streaming platform.The singer released her re-recording of ‘1989’ on Friday (October 27), the fourth album in a series of re-recordings. It follows an ongoing dispute between the superstar and Scooter Braun, former owner of her previous label Big Machine Records – read here for a refresher of the situation.Since ‘1989 (Taylor’s Version)’ was released, Spotify has said that Swift broke two new records.

Taylor Swift continues to make history with her music and this time 1989 (Taylor’s Version) has broken a record that the singer and songwriter set herself.

Taylor Swift continues to prove that she is in a class of her own!

Chris Willman Senior Music Writer and Chief Music Critic On the day of the release of “1989 (Taylor’s Version),” Taylor Swift set a Spotify record in becoming the artist with the most streams in a single day in the streaming service’s history, according to a statement from Spotify on Saturday on X. The company added that, on top of that, “1989 (Taylor’s Version)” had set a 2023 record as Spotify’s most-streamed album in a single day so far this year. Spotify did not release overall numbers for the album or Swift’s total as an artist, as is its custom when announcing records being broken.

It’s a BIG day for Taylor Swift!

As it grew into a tech behemoth over its first two decades, Amazon was regarded as a sleeping giant in the digital advertising business, largely ceding the market to the duopoly of Facebook and Google.

Meghan Markle is zeroing in on a “make or break” new podcast deal.

Spotify have announced that less popular tracks won’t earn any royalties whatsoever, despite the company reporting better-than-expected third-quarter profits and subscriber gains.The Swedish streaming service gained an extra 6million paying subscribers from June to September, bringing its total to 226million. This exceeds its forecast that their paid subscriber levels would pass the 224million mark.Despite these gains, however, Billboard reports that Spotify is restructuring its royalty system and plans to de-monetize tracks that had previously received 0.5% of Spotify’s royalty pool.” The plans will reportedly be implemented early next year.The changes in the royalty system are set to benefit more established artists and labels, while the biggest difference from the old system is that a track will need to reach a minimum number of annual streams before it starts generating royalties.Spotify is reportedly also planning to crack down on “fraud” and will issue financial penalties against distributors and labels it deems guilty of this.

Spotify is planning to roll out major changes to its royalty model, Music Business Worldwide and Billboard report. Per those publications, the company will execute this plan in the first financial quarter of 2024 in an effort to “combat three drains on the royalty pool — all of which are currently stopping money from getting to working artists.” These drains, apparently, are low-streaming tracks, “fraudulent activity” on the platform, and non-music “noise” audio that, in the current model, is placed on par with bona fide songs.

For editorial questions, please contact Sharareh Drury at [email protected] Head of Global MediaSpotify Boynton oversees paid media, influencers and integrations at Spotify, which aims to connect with audiences through authentic storytelling and community-driven initiatives. For instance, Spotify’s Fuego Mixtape takeover recently gave users the chance for their selections to be featured as the Fuego playlist of the week. “The challenge is that the world moves so fast,” says Boynton.

Spotify gave an early peek at its two-week-old Audiobook rollout with chief executive Daniel Ek telling investors, “It’s early days, but we feel good.”

Europol claimed that in an “action week” between October 16 and October 20 led by the French National Gendarmerie, officers arrested one of the main actors in the group in Paris. His home in Czechia was searched and five separate suspects were interviewed in Spain and Latvia.The “key target” who had been located in Paris was presented to the examining magistrates of the Paris Judicial Court and the Ragnar Locker ransomware infrastructure was seized in Germany, the Netherlands and Sweden.Also, its associated data leak website on Tor was taken down in Sweden.

Whitney Cinkala Variety and Spotify will host the 2023 Entertainment Marketing Visionaries Dinner on Thursday, Oct. 26. The invite-only dinner, held in Los Angeles, will bring together top entertainment marketers from the film, TV, music and technology sectors.

Spotify by Sony, including Gravity Rush, Shadow Of The Colossus, Soul Sacrifice and more.The SIE Sound Team account on Spotify is the one-stop shop for the soundtracks to a selection of the most acclaimed games on PlayStation, such as Astro Bot Rescue Mission, Bloodborne, Demon’s Souls, The Last Guardian and more.With this recently released lot, fans will be able to listen to the soundtracks to Echochrome, Fantavision, Freedom Wars, Gravity Rush, Patchwork Heroes, PoPoLoCrois, popolocrois: a new departure, PoPoRoGue, Shadow Of The Colossus, Soul Sacrifice, What Did I Do To Deserve This, My Lord!? 1 & 2, White Knight Chronicles, White Knight Chronicles 2 and Wild Arms (as pointed out by X user AniPlaylist).At the time of writing, these have not appeared on any other streaming services like Apple Music, so it might be a matter of time before the aforementioned soundtracks become available elsewhere.For fans of Shadow Of The Colossus, it is a boon that they no longer have to rely on YouTube to listen to the soundtrack, which is one of the highlights of the reflective experience of playing the game.In Jack Richardson’s exploration of Team Ico’s original action adventure for NME‘s Remastered column, he argued that the emptiness and minimalism of the game’s direction is specifically haunting in a way that is unique to the medium.“Games have two stories: the one that takes place in the game and the story of us playing it. There’s certainly an artistry behind combining these two as closely as possible, but it’s not a necessary goal,” he said.“When we play Colossus, we’re constantly challenged to interpret what’s going on as we do it.