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After Spotify said it would begin to phase out service in Uruguay on Jan. 1, 2024, the streamer reversed course on Tuesday (Dec. 12). “We can say with great confidence, they transmitted it to us today: Spotify is going to continue operating in Uruguay for the benefit of all users,” Secretary of the Presidency Álvaro Delgado said in a press conference, according to El Observador.
The origin of the dispute: Uruguay’s parliament passed a bill in November that changed the country’s copyright laws and demanded “equitable remuneration” for artists. Spotify objected to the lack of “clarity” in the new bill’s language because it was unclear where that additional “remuneration” would come from. “Changes that could force Spotify to pay twice for the same music would make our business of connecting artists and fans unsustainable,” a Spotify spokesperson warned, “and regrettably leaves us no choice but to stop being available in Uruguay.”
However, as El Observador reported on Tuesday (Dec. 12), Delgado told the press that “after several days of exchange and interaction, especially with legal aspects, the President of the Republic, the Minister of Education and Culture and the Minister of Industry” have come together to “make it clear that there will be no double payment by the platforms.”
Spotify welcomed the news. “The Uruguayan government has issued much-needed clarification of the recent music copyright law changes, specifically that rightsholders are responsible for ensuring artists are fairly paid, rather than requiring Spotify to pay multiple times for the same content,” a spokesperson said in a statement.
“We are pleased that this clarification will allow Spotify to remain available in Uruguay so that we can continue giving artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it,” the spokesperson continued. “We thank President Lacalle Pou and his team for recognizing the value Spotify provides to local artists, songwriters and fans.”
It has been a tumultuous month for Spotify: Earlier in December, the company announced it was cutting around 1,500 employees in an effort to close “the gap between our financial goal state and our current operational costs,” as CEO Daniel Ek wrote to staff. This marked Spotify’s third round of layoffs in 2023.
Ek acknowledged that a “reduction of this size will feel surprisingly large given the recent positive earnings report and our performance.” But he added he was “convinced this is the right action.”
A few days later, Spotify announced that CFO Paul Vogel would leave the company at the end of March.
If YG Entertainment’s re-signing of all four BLACKPINK members is any indication, investors can worry less about K-pop companies’ ability to retain their artists.
YG Entertainment gained 17.2% this week to 59,300 won ($45.00) as investors reacted to news that the four members of BLACKPINK signed to new, exclusive contracts with the agency. (The share price rose 29% the morning the announcement was made.) Uncertainty about contract renewals had caused the company’s share price to decline 16% in the week ended Sept. 22, as news reports out of South Korea said three BLACKPINK members would leave YG and spend just six months out of the year with the group. At the time, the company denied the news and insisted that the deals were still being discussed.
The BLACKPINK renewal appeared to have a positive impact on the stocks of other K-pop companies. Shares of HYBE gained 12.3% to 237,500 won ($180.24), while SM Entertainment shares rose 3.6% to 88,200 won ($66.94). Those improvements far exceeded the 0.5% gain posted by South Korea’s KOSPI composite index.
The Billboard Global Music Index gained 2.2% to a record 1,481.56, surpassing the previous high of 1,426.49 set four weeks earlier. That brought the index’s year-to-date gain to 26.9%. Half of the index’s 20 stocks finished the week in positive territory.
This week’s 2.2% gain outpaced major indexes around the world. In the United States, the Nasdaq improved 0.7% to 14,403.97 while the S&P 500 rose 0.2% to 4,604.37, reaching an all-time high of 4,609.23 on Friday (Dec. 8). In the United Kingdom, the FTSE 100 gained 0.3% to 7,554.47.
Spotify was the biggest contributor to the Billboard Global Music Index’s gain this week. The streaming company — the largest component of the 20-company, float-adjusted index — enjoyed a double-digit increase this week, gaining 9.6% to $198.05 after Monday’s news the company will lay off 17% of its workers. Following Thursday’s news that CFO Paul Vogel will leave the company in March 2024, Spotify shares rose 1.1% on Friday.
Another stock to react to financial news was Sphere Entertainment Co., which announced the sale of $225 million in convertible senior notes that mature in 2028. That sent the company’s shares down 15.5%, but the stock recovered most of its losses and finished the week down only 5.3% to $32.66. Following the debt announcement, Sphere Entertainment was upgraded by Seaport to a “buy” with a $38 price target, representing a 16.4% upside over Friday’s closing price. U2 concerts were doing $500,000 more per show than expected and the $99 average ticket price to the Darren Aronofsky film Postcard From Earth was above analysts’ $84 estimate.
The smallest stock on the index, Abu Dhabi-based music streamer Anghami, dropped 41.3% to $1.35 without any regulatory filings or other news. The stock was trading below $1.00 per share as recently as Nov. 15 but jumped to $3.49 on Nov. 21 on trading volume of 57.7 million shares, or about 50 times the daily average.
Spotify’s announcement this week that it was laying off 17% of its global workforce surprised a music business enjoying a renaissance. After all, Spotify ignited the subscription-streaming boom that saved the industry. And while the companies that depend on the online advertising business go through booms and busts — think of Meta cutting 21,000 jobs since 2022 — music business jobs have been relatively safe.
Spotify’s decision to eliminate about 1,500 full-time staffers shouldn’t have come as a surprise, though. As CEO Daniel Ek put it in a letter announcing the layoffs, “Today, we still have too many people dedicated to supporting work and even doing work around the work rather than contributing to opportunities with real impact.”
Over a decade and a half, Spotify pioneered a new model for music subscriptions by prioritizing growth over profit. While on-demand video streaming services such as Netflix frequently raised prices, Spotify left most of its prices unchanged until July. Digital music platforms have a notoriously tricky path to profitability, but Spotify’s share price soared thanks to a pandemic-era boost to streaming companies as well as high expectations for its nascent podcasting business. By February 2021, as Spotify poured money into acquisitions and pricey podcasting content, the stock was trading at $364.59 per share, valuing the company at roughly $71 billion.
By 2022, however, Spotify’s investors had run out of patience. The stock was trading at $110 on June 8 when Ek and CFO Paul Vogel shared their ambitious plan at the company’s Investor Day presentation: $100 billion in annual revenue, 40% gross margins and 20% operating margins. To get there, Spotify would continue to scale its podcasting business and lean on its audio content acquisitions — The Ringer, Parcast, Megaphone and Anchor — to help the format reach larger audiences. Now, Spotify also wants to do for audiobooks what it did with podcasts: piggyback on its massive base of music listeners, develop innovative products and build a bigger market.
Podcasts and audiobooks, as well as services sold to artists and record labels like merchandise listings and Discovery Mode, are important to reaching the targets of 40% gross margin and 20% operating margin. Given the nature of licensing deals with record labels and music publishers, music margins have little room to improve. Whereas video streamers like Netflix pay fixed costs for much of their content, Spotify pays a percentage of revenue to record labels and music publishers. That means as revenue increases, so do its content costs. And that’s not likely to change. “Our strategy is not predicated on trying to extract margin by negotiating better terms with the content partners we have,” Ek said at the 2022 Investor Day.
Over a year later, however, Billboard’s analysis of Spotify’s financial statements shows the company is still nowhere near its target margins. Since the first quarter of 2020, its gross profit margin has fallen between 24.1% and 28.4% while its operating profit margin has ranged from –8.8% to 3% and was below zero in 11 of 15 quarters.
Merely adding subscribers isn’t enough. (The company reported 226 million at the end of Q3 2023.) Reaching its targets requires Spotify to cut costs while investing in new growth opportunities such as podcasts and audiobooks. Ek said as much when explaining Vogel’s upcoming departure on Thursday. “I’ve talked a lot with Paul about the need to balance these two objectives carefully,” he said in a statement. “Over time, we’ve come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.”
Spotify’s cost-cutting started in 2022 with a pause on new hires, layoffs in October and the cancellation of six live audio shows in December. This year, it laid off 6% of its global staff in January and in June merged two podcast production houses, Gimlet and Parcast, and further cut its podcast workforce by 2%. In August, it shut down Spotify Live, a short-lived live streaming app. Then on Monday, Spotify announced it would lay off 17% of its workforce. It also canceled two in-house podcasts, Heavyweight and Stolen.
As the graphs show, recent trends in Spotify’s financials made it clear larger cuts were necessary to meet the company’s ambitious targets. Personnel costs as a percentage of revenue rose from 13.8% in 2021 to 16.2% in 2022. Research and development expenses — which include some salaries — jumped from 9.4% of revenue in 2021 to 11.8% in 2022.
As Ek explained in the memo to employees, Spotify grew in 2021 and 2022 to take advantage of lower-cost capital. Today’s environment is different, however, and Ek believes Spotify’s “cost structure for where we need to be is still too big.” Indeed, Spotify’s head count steadily increased as it acquired companies, developed new formats and created product innovations that both resonated (Spotify Wrapped) and flopped (Spotify Live) with users. The number of full-time employees increased nearly 50% from 2020 to 2022.
This growth came without added efficiency, however. The revenue generated per employee peaked at 1.54 million euros ($1.66 million) in 2019 and declined to 1.4 million euros ($1.51 million) in 2022 — the lowest since 2017. The July price increase will help Spotify bring in more revenue without additional staff or resources, though the effectiveness of those increases won’t be known until Spotify releases full-year results in late January.
What’s more, Spotify’s gross profit per employee fell to a five-year low in 2022. Gross profit is what’s left after cost of sales — primarily royalties to labels and publishers — is deducted from revenue. It goes toward personnel costs, sales and marketing expenses, and general and administrative costs. But as Spotify added employees in recent years, gross profit per employee fell to 350,000 euros ($377,000) in 2022 from 391,600 euros ($421,000) in 2021.
An obvious way for Spotify to reach its target margins was to make larger cuts to its workforce and, as Ek phrased it, “become relentlessly resourceful.” Cutting 17% of its personnel costs would have resulted in savings of 323 million euros ($349 million) in 2022, based on total personnel costs of 1.9 billion euros ($2.05 billion). That savings would have halved Spotify’s 2022 operating loss of 659 million euros ($711 million).
Ultimately, the multi-billion-dollar question is simple: Can Spotify continue adding subscribers as fast as it has in previous years and develop its spoken word products into the higher-margin businesses it needs with far fewer employees? That’s the high-stakes situation the new CFO will walk into in 2024 and that will determine the company’s future from here on out.
Paul Vogel will step down as Spotify’s chief financial officer on March 31, 2024, the company announced Thursday (Dec. 7). As the streaming giant searches for a replacement, Ben Kung, vp of financial planning and analysis, will take on expanded responsibilities to support “the company’s realignment of its financial leadership team,” the announcement stated. Vogel […]
Spotify shares jumped 7.5% on Monday (Dec. 4) following news the company will lay off 17% of its global workforce. CEO Daniel Ek called the layoffs a “crucial step” in a wider effort to be “relentlessly resourceful.” The layoffs amount to roughly 1,500 staffers based on the company’s recent disclosure of having 9,241 full-time employees. […]
Eslabon Armado and Peso Pluma’s “Ella Baila Sola” officially reached one billion streams on Spotify on Sunday (Dec. 3). The high point marks the first-ever música mexicana track to do so, Spotify has confirmed to Billboard Español. The song — which premiered on April 1 as part of Eslabon Armado’s album Desvelado via DEL Records […]
Team,
Over the last two years, we’ve put significant emphasis on building Spotify into a truly great and sustainable business – one designed to achieve our goal of being the world’s leading audio company and one that will consistently drive profitability and growth into the future. While we’ve made worthy strides, as I’ve shared many times, we still have work to do. Economic growth has slowed dramatically and capital has become more expensive. Spotify is not an exception to these realities.
This brings me to a decision that will mean a significant step change for our company. To align Spotify with our future goals and ensure we are right-sized for the challenges ahead, I have made the difficult decision to reduce our total headcount by approximately 17% across the company. I recognize this will impact a number of individuals who have made valuable contributions. To be blunt, many smart, talented and hard-working people will be departing us.
For those leaving, we’re a better company because of your dedication and hard work. Thank you for sharing your talents with us. I hope you know that your contributions have impacted more than half a billion people and millions of artists, creators, and authors around the world in profound ways.
I realize that for many, a reduction of this size will feel surprisingly large given the recent positive earnings report and our performance. We debated making smaller reductions throughout 2024 and 2025. Yet, considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives. While I am convinced this is the right action for our company, I also understand it will be incredibly painful for our team.
To understand this decision, I think it is important to assess Spotify with a clear, objective lens. In 2020 and 2021, we took advantage of the opportunity presented by lower-cost capital and invested significantly in team expansion, content enhancement, marketing, and new verticals. These investments generally worked, contributing to Spotify’s increased output and the platform’s robust growth this past year. However, we now find ourselves in a very different environment. And despite our efforts to reduce costs this past year, our cost structure for where we need to be is still too big.
When we look back on 2022 and 2023, it has truly been impressive what we have accomplished. But, at the same time, the reality is much of this output was linked to having more resources. By most metrics, we were more productive but less efficient. We need to be both. While we have done some work to mitigate this challenge and become more efficient in 2023, we still have a ways to go before we are both productive and efficient. Today, we still have too many people dedicated to supporting work and even doing work around the work rather than contributing to opportunities with real impact. More people need to be focused on delivering for our key stakeholders – creators and consumers. In two words, we have to become relentlessly resourceful.
I know you will all be anxious to hear the next steps about how this process will work. If you are an impacted employee, you will receive a calendar invite within the next two hours from HR for a one-on-one conversation. These meetings will take place before the end of the day on Tuesday, and while Katarina will provide more detail on all of the specifics, please know the following will apply to all of these bandmates:
Severance pay: We will start with a baseline for all employees, with the average employee receiving approximately five months of severance. This will be calculated based on local notice period requirements and employee tenure.
PTO: All accrued and unused vacation will be paid out to any departing employee.
Healthcare: We will continue to cover healthcare for employees during their severance period.
Immigration support: For employees whose immigration status is connected with their employment, HRBPs are working with each impacted individual in concert with our mobility team.
Career Support: All employees will be eligible for outplacement services for two months.
For the team that will remain at Spotify, I know this decision will be difficult for many. Please know we are focused on treating our impacted colleagues with the respect and compassion they deserve.
Looking Ahead
The decision to reduce our team size is a hard but crucial step towards forging a stronger, more efficient Spotify for the future. But it also highlights that we need to change how we work. In Spotify’s early days, our success was hard won. We had limited resources and had to make the most of every asset. Our ingenuity and creativity were what set us apart. As we’ve grown, we’ve moved too far away from this core principle of resourcefulness.
The Spotify of tomorrow must be defined by being relentlessly resourceful in the ways we operate, innovate, and tackle problems. This kind of resourcefulness transcends the basic definition – it’s about preparing for our next phase, where being lean is not just an option but a necessity.
Embracing this leaner structure will also allow us to invest our profits more strategically back into the business. With a more targeted approach, every investment and initiative becomes more impactful, offering greater opportunities for success. This is not a step back; it’s a strategic reorientation. We’re still committed to investing and making bold bets, but now, with a more focused approach, ensuring Spotify’s continued profitability and ability to innovate. Lean doesn’t mean small ambitions; it means smarter, more impactful paths to achieve them.
Today is a difficult but important day for the company. To be very clear, my commitment to our mission and belief in our ability to achieve it has never been stronger. I hope you will join me on Wednesday for Unplugged to discuss how we move forward together. A reduction of this size will make it necessary to change the way we work, and we will share much more about what this will mean in the days and weeks ahead. Just as 2023 marked a new chapter for us, so will 2024 as we build an even stronger Spotify.
– Daniel
In 2023, Taylor Swift has towered above her musical peers on multiple fronts. And earlier this week, she racked up another major achievement when she was named Spotify‘s top-streamed artist of 2023.
As part of its annual year-end Wrapped rundown on Wednesday (Nov. 29), Spotify announced that Swift had racked up 26.1 billion streams globally on the service since Jan. 1, topping the likes of three-time champ Bad Bunny as well as The Weeknd, Drake and Peso Pluma. This didn’t exactly come as a surprise considering the ongoing success of her late-2022 album, Midnights, as well as two chart-topping re-recordings: Speak Now (Taylor’s Version) and 1989 (Taylor’s Version), the latter of which racked up a whopping 375.49 million on-demand official streams in its first week.
Swift’s year on Spotify tops any artist ever on the platform, which — now 15 years since launching — keeps expanding its user base annually. For comparison, when Bad Bunny was announced as the top Wrapped artist in the prior three years, he had 18.5 billion streams in 2022, 9.1 billion in 2021 and 8.3 billion streams in 2020.
According to Billboard‘s royalty calculator, Swift’s 26.1 billion streams amount to about $97 million in recorded music royalties. And the year’s not even done yet. When estimating her total streams through December, that number would swell to 27.2 billion, amounting to recorded music royalties of $101 million through the end of the year from Spotify alone. Add in publishing revenue, and Swift’s music will have earned about $131 million on Spotify by the end of the year.
Of course, that only accounts for Swift’s performance on Spotify, which remains the streaming market leader. When tallying on-demand streams across all platforms — including such heavy-hitters as Apple Music, YouTube Music and Amazon Music — Billboard estimates that her catalog racked up a total of 38.3 billion streams through the end of the year, amounting to a total of about $160 million in recorded royalties, by Billboard’s estimates. With publishing, Swift’s total on-demand streaming revenue gets close to $200 million.
It’s worth noting that Swift likely takes the lion’s share of this money. In her contract with Universal Music Group and Republic Records, signed in 2018, she retained master rights to all of her music going forward. That includes all four of her re-recorded Taylor’s Version albums so far: Fearless, Red, Speak Now and 1989. That re-recording project — which she famously embarked upon after her previous label, Big Machine Records, was acquired by Scooter’s Braun‘s Ithaca Holdings in 2019, much to Swift’s chagrin — has performed beyond likely even Swift’s wildest dreams. And it’s proven a lucrative gambit for the superstar, whose Taylor’s Versions have consistently outperformed the originals on streaming since their respective releases.
Not bad for someone who famously pulled her catalog from Spotify less than a decade ago, calling it a “grand experiment.”
Additional reporting from Glenn Peoples.
Generative AI music creation platform, label and publisher Boomy reached a distribution partnership with ADA Worldwide, Warner Music Group’s independent distribution and label services arm. Under the deal, Boomy’s A&R team will bring top artists and exclusively curated music from the Boomy roster to ADA. Select Boomy artists will be distributed and marketed across platforms including Spotify, Apple Music and YouTube Music. Boomy artists who will benefit from the partnership include rapper-producer Jelie, German harpist Katirha, Boston-based producer Lightfoot, rapper Paperboy Prince and techno/lo-fi music project Plague of Grackles. Boomy’s AI systems allow human creators to make original music even if they lack professional tools or a formal music-making education.
AI and metaverse technology and content company Futureverse signed with CAA for representation in all areas. The companies will collaborate to open up new opportunities for talent and intellectual property across Web3, the metaverse, AI, virtual games and experiences and more. The announcement follows the unveiling of Futureverse’s JEN 1, a “high-fidelity model” for text-to-music generation and research paper that proposes a strategy to pioneer a new licensing framework compensating rights holders, producers and artists. “Futureverse’s strategic collaboration with CAA has forged a strong alignment in fostering the development of mutually beneficial business models that empower creators with groundbreaking tools and lucrative revenue opportunities. As pioneers in AI, web3 and metaverse infrastructure, driven by a deep appreciation for art and humanity, we see an incredibly bright future for the world of entertainment,” said Futureverse co-founder Shara Senderoff in a statement. Futureverse’s other co-founder is Aaron McDonald.
Through an existing joint venture, CTS Eventim and Sony Music Latin Iberia acquired Punto Ticket in Chile and Teleticket in Peru, expanding the JV’s South American ticketing business, which launched in Brazil in 2016. The acquisitions will provide ticketing systems and related services to concert promoters and venues across both countries. Corporate leadership for the acquired companies will remain intact.
Spotify partnered with mobile provider Orange Middle East & Africa, which will now offer complimentary data bonuses for its customers to access Spotify’s service. “We are aware that data costs continue to be a hindrance for people who would like to stream music, that’s why we are actively working at Spotify SSA on partnerships like this one,” said Jocelyne Muhutu-Remy, MD for Spotify in Sub-Saharan Africa, in a statement. Brelotte Ba, deputy CEO of Orange Middle East and Africa, added that the deal will “contribute to the acceleration of digital inclusion on the continent.” Orange operates in a total of 18 countries across Africa and the Middle East.
HARMAN, a Samsung Electronics subsidiary that focuses on connected technologies for automotive, consumer and enterprise markets, acquired music management, discovery and streaming platform Roon. Described in a press release as “a music player for music enthusiasts,” Roon is available on all popular operating systems and also manufactures a line of hardware server appliances called Nucleus. Roon will operate as a standalone HARMAN business with its existing team remaining in place. HARMAN plans to grow Roon’s open device ecosystem that collaborates with more than 160 other audio brands, delivering audio to more than 1,000 high-performance devices.
Universal Music Group (UMG) signed a deal with Ethiopian streaming platform Sewasew Multimedia, which will now license and market UMG’s music catalog in Ethiopia. “UMG has a long and successful presence in Africa, and given Ethiopia’s rich and vibrant music culture, we are excited to work with Sewasew Multimedia to help grow the Ethiopian music industry to its full potential,” said Ulrik Cahn, UMG executive vp of Africa, Middle East and Asia, in a statement.
Independent digital distributor IDOL signed a global distribution and label services deal with Young Art Records, the L.A.-based label belonging to producer and DJ TOKiMONSTA. Under the partnership, IDOL will handle global distribution and marketing for Young Art Records’ catalog and frontline releases. In addition to TOKiMONSTA, Young Art artists include rapper Cakes Da Killa, Canadian R&B musician Rochelle Jordan and instrumentalist-songwriter duo Daktyl & Benni Ola.
Warner Music Group (WMG) struck a partnership with Ghana-based Small World Records, the label and publisher founded by music entrepreneur and streetwear connoisseur SmallGod. Under the new agreement, Small World will collaborate with teams from WMG, ADA and Warner Chappell Music to elevate Small World’s artist and songwriter rosters worldwide and discover, nurture and elevate a new generation of African talent. SmallGod will continue leading Small World’s operations.
SiriusXM unveiled a new collaboration with Europe’s Radio Monaco to launch the SiriusXM Radio Monaco channel, which will bring artists and DJs from Monte Carlo to SiriusXM listeners in North America. According to a press release, Radio Monaco (originally launched in 2006) is the only music stream originating from Monaco. The channel will broadcast live from Jimmy’z Monte-Carlo and air DJ sets from the parties around the Monaco Grand Prix while featuring exclusive interviews and content with stars from the country’s music scene. Radio Monaco will be available to SiriusXM subscribers across North America.
Spinnin’ Records signed a new joint venture with independent dance label and publisher Kanary Records, run by brothers Alex and Christopher Van den Hoef — also known as production duo DVBBS. Artists on Kanary’s roster include Arkade, Bad Nonn and Dayfive. “We are delighted to join forces with Alex and Christopher, reigniting our relationship from over a decade ago,” said Jorn Heringa, head of A&R at Spinnin’ Records, in a statement. “Both brothers bring deep expertise and knowledge to the table and will work harder than anyone else to develop and drive KANARY to new heights with us. Welcome back to Spinnin’!”
Mozaic.io, a global payments platform that allows co-creators to automatically send and receive split payments, closed a $20 million Series A funding round from Boston-based growth equity firm Volition Capital. Mozaic.io initially focused on payouts for music distributors, artists and collaborators before expanding to serve the entire peer-to-peer creator economy, with a goal of expanding further into the gig and freelance economy. The investment brings the total raised for Mozaic.io to $27.1 million, with existing investment from Rise of the Rest, Maverick Nashville and music industry executive Joe Galante. The funds will be used for new product development and expanding Mozaic’s sales and product teams.
Audoo — a music technology company that allows artists, songwriters, PROs and CMOs to see in real-time where their music is played via the use of proprietary audio meters, enabling them to better collect on public performance royalties — partnered with Abu Dhabi-based music rights organization ESMAA. Through the collaboration, ESMAA will incorporate Audoo’s “Audio Meter” and insights platform into its operational framework, allowing more accurate and transparent data collection and payment distribution for artists and rights holders. “ESMAA is at the forefront of building a modern rights company and through implementing the best technology from Audoo, we bridge the path of identifiable potential income with a system that optimises the use of music recognition in public performance spaces,” said Spek, founder/CEO of ESMAA, in a statement.
Canadian booking agency Paquin Artists Agency (PAA), a division of Paquin Entertainment Group, formed a strategic partnership with Louis Carrière, founder/president of Quebec-based agency Preste. The partnership will deepen PAA’s footprint in Quebec as it opens a new office in Montreal. PAA will also provide key resources to Carrière and his team to export Quebecian talent.
Believe-owned metal label Nuclear Blast announced an exclusive e-commerce partnership with Impericon, a provider of metalcore merchandise and music. Under the deal, Impericon will oversee all of Nuclear Blast’s European e-commerce activities starting in the first quarter of 2024.
The end of November marks Spotify Wrapped season, the time of year when pretty much everyone is posting on social media about the artists and songs they listened to most this year. Wrapped has quickly become a beloved tradition among music lovers since since its launch in 2014. Not only does the year-end review give […]