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Spotify is closing down its live-audio app Spotify Live, the streamer said Monday (April 3).
“After a period of experimentation and learnings around how Spotify users interact with live audio, we’ve made the decision to sunset the Spotify Live app,” a spokesperson for the platform said in a statement. “We believe there is a future for live fan-creator interactions in the Spotify ecosystem; however, based on our learnings, it no longer makes sense as a standalone app. We have seen promising results in the artist-focused use case of ‘listening parties,’ which we will continue to explore moving forward to facilitate live interactions between artists and fans.”
Spotify Live started as the sports-focused live-audio app Locker Room, which Spotify acquired in March 2021 when the streaming service purchased its developer, Betty Labs, for more than $65 million. At the time, the Clubhouse app was popular, and Locker Room was widely viewed as a competitor.
At the time of the acquisition, Spotify said it aimed to “evolve and expand Locker Room into an enhanced live audio experience for a wider range of creators and fans… We’ll give professional athletes, writers, musicians, songwriters, podcasters, and other global voices opportunities to host real-time discussions, debates, ask me anything (AMA) sessions, and more.”
Locker Room was relaunched as Spotify Greenroom in the summer of 2021. The following April, it was renamed Spotify Live and incorporated as a livestream function in the main Spotify app. To celebrate that iteration, Spotify Live streamed Swedish House Mafia’s Paradise Again album release party. But in a round of programming cuts in December, some of the live shows were shut down.
Spotify unveiled a host of new features in March — including a swipe-able vertical feed that will play previews of music and podcasts, a pre-save feature with “countdown pages” for upcoming releases, and “Clips,” which allows acts to post 30-second videos on their artist pages — that were widely viewed as an attempt to contend with a different competitor: TikTok. CEO Daniel Ek called these updates “the biggest” transformation Spotify has undergone in a decade.
Billboard‘s Global Music Index rose 4.2% this week to 1,263.70, its high level in six weeks, as 14 of the 20 stocks in the index were in positive territory. The index’s most valuable companies were among the gainers: Universal Music Group was up 2.1%, Spotify improved 4.1%, and Live Nation climbed 6.1%.
With additional help from Warner Music Group (+5.9%) and Tencent Music Entertainment (+8.1%), the Billboard Global Music Index outperformed the major indexes. The S&P 500 rose 3.5% to 4,109.31 and the Nasdaq composite improved 3.4% to 12,221.91. In the U.K., the FTSE 100 rose 3.1%.
In the first quarter, the Billboard Global Music Index was up 8.2% overall.
Radio company Audacy was the greatest gainer of the week, improving 18.2% to $0.13. In a proxy statement filed March 24, Audacy said it will propose a reverse stock split at the company’s May 24 shareholder meeting. The New York Stock Exchange will initiate a delisting process for stocks that close below $1.00 for 30 consecutive trading days; Audacy’s share price has not exceeded $1.00 since July 5, 2022. A reverse stock split will reduce the number of outstanding shares. Since the value of the company is unaffected by the event, the reverse split will increase the share price.
Elsewhere, Madison Square Garden Entertainment (MSGE) improved 9.6% to $59.07. On Thursday (March 30), MSGE revealed its final plan to separate its live entertainment company from the rest of its businesses. On April 20, the current parent company will be renamed Sphere Entertainment Co. and be comprised of the state-of-the-art Sphere venue, MSG Networks and Tao Group Hospitality. That will leave a pure-play live entertainment company, MSG Entertainment, which includes such venues as Madison Square Garden and Radio City Music Hall.
Competing interests drove SM Entertainment shares higher in February and early March, but the stock has fallen 36.9% in the last three weeks after dropping another 13.1% this week. The K-pop company’s share price started the year at 76,700 won ($58.71) and surged to 114,700 won ($87.79) on Feb. 10 after HYBE acquired a 14.8% stake from SM’s founder, Lee Soo-man. By March 10, when HYBE and Kakao Entertainment were locked in a battle to become SM’s largest shareholder and lead the company’s expansion following its break from Lee, SM shares hit 147,800 ($113.13). Once Kakao Corp. and Kakao Entertainment’s tender offer expired on March 26, the share price plummeted. Still, SM Entertainment shares are up 21.5% year to date.
It’s an uneasy time in the music industry. During a Jan. 31 call with analysts, Spotify CEO Daniel Ek emphasized the positive side of the streaming revolution — “there [are] a lot more artists that are mattering now than ever before” — while still acknowledging the anxiety that’s percolating through the business. “The big counter to that would be: Does it mean that you can sustain yourself, or does it mean we have more one-hit wonders?” Ek asked. “You’re seeing a little bit of both happening in the music industry at the present moment.”
Especially in an era when TikTok appears to run the music industry — trends on the app can send songs bounding up the charts, impacting signing decisions and marketing campaigns — it’s common to hear executives fretting about one-hit wonder overload and the lack of “artist development.” On any given day, a handful of songs flare on the app, soundtracking heaps of videos and leading to jumps in streaming. As a result, “more people are investing in songs that might not have the artist proposition attached to them,” one manager recently lamented to Billboard. “By default, if more of the people responsible for breaking acts are focused on songs, that’s how you have a landscape where there are a trillion one-hit wonders.”
Spotify returned to this theme during its recent Stream On event. Gustav Soderstrom, the platform’s co-president, took the stage to tout the power of features like Release Radar for driving streams and long-term engagement. “That’s why discoveries on Spotify, unlike many other platforms, give creators so much more than just a fleeting moment of viral fame,” he said. He didn’t name TikTok, but it was pretty clear who he was aiming at.
In a statement to Billboard, Ole Obermann, TikTok’s global head of music, hit back against the idea that the popular app prioritizes brief eruptions over long and healthy careers. “In the few years that our music teams at TikTok have been working closely with the musical creator and label community, our commitment to backing artists across the board has helped propel emerging talent and legacy acts to new points of success,” Obermann said. “Artists who broke out from TikTok such as Ice Spice, Lil Nas X, and Coi Leray have sustained multiple Billboard hits. We also see artists such as Tai Verdes, jxdn and Sara Kays who have grown substantial fan bases on TikTok and are building their music careers broadly rather than based on an individual hit song.”
Many in the music industry believe one-hit wonders are newly abundant. But do they show up on the Billboard charts?
Defining a one-hit wonder as an artist that cracks the top 40 on the Billboard Hot 100 and never makes it back to that position, the annual percentage of acts fitting this criterion remained relatively constant from 2002 to 2019, according to Billboard‘s analysis. On average, 54% of the acts who made it into the top 40 during this period failed to return with at least a second entry. Though the fraction got as high as 61% and sank as low as 39% during this time period, there was no pronounced increasing trend visible over time.
In 2020 — the most recent full year it seems fair to judge — the portion of artists who made it into the top 40 but didn’t land a second entry was higher: 70%. Of course, this number may fall in the coming years, because these artists haven’t had much time to score a second hit. Changing the definition of a one-hit wonder to match the available data for 2020 — redefining it as an artist that cracks the top 40 and doesn’t make it back in the next two years — causes the portion of one-hit wonders to jump by more than 7% each year, on average. This means it’s likely that 2020’s one-hit wonder count will end up more in line with previous years.
The opposite of a one-hit wonder is an act who enjoys a steady stream of popular singles. Say a “career artist” appears at least 10 times in the top 40 as a lead or featured collaborator: Around 10% of all acts who reached the top 40 once between 2002 and 2020 went on to achieve this goal. The frequency of career artists hasn’t changed much over the years either — roughly the same number emerged from the first half of the time period examined as from the second half.
There is one other noticeable trend in top 40 data: The number of new artists appearing on the upper reaches of the chart is gently declining over time. The fall is gradual, approximately one less new artist every two years. This mirrors a decline in new artists getting top 10 hits, but the trend is less pronounced in the top 40. That’s presumably because it’s easier to reach the top 40 than the top 10, and because there are fewer top 10s annually.
Taken together, this indicates that it is somewhat harder to get a top 40 hit than it was two decades ago, but once artists get that breakout hit, they have roughly the same odds of eventually building a catalog of big tracks. The first development is cause for concern. But the second should be reassuring — the more things change, the more they stay the same.
Vice President Kamala Harris has partnered with Spotify for an official playlist of African music as a means of crystallizing her current trip across the continent, Billboard can exclusively reveal.
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The playlist, titled “My Travels: Ghana, Tanzania, and Zambia,” is live on the streaming platform, and is designed to “amplify the artists and sounds from my travels” across those countries, per its description. The vice president arrived in Ghana on Sunday (March 26) for her first trip to Africa while in office, and will visit Tanzania on Wednesday and Zambia on Friday before returning to the U.S. on Sunday.
According to Spotify, VP Harris worked closely with the streamer to curate the playlist, which features Ghanaian and Ghanaian-American artists like Amaarae, Moses Sumney and Black Sherif; Tanzanian and Tanzanian-American artists like Harmonize, Zuchu and Alikiba; and Zambian and Zambian-American artists including Chile One Mr. Zambia, Yo Maps and Chef 187.
On Monday, Harris will visit Vibrate Space, a Ghanaian music work station that local collective Surf Ghana opened last October with audio recording, mixing, mastering and editing equipment, along with consultations and Masterclass sessions. Spotify supported the launch of Vibrate Space last year, and the vice president plans to meet with local artists — including some featured on her playlist — at the studio.
Click here to listen to the playlist, and check out the full track list below:
1. All My Cousins, “Act a Fool”2. Moses Sumney, “Me in 20 Years”3. T’neeya, “Pretty Mind”4. Amaarae, “Reckless & Sweet”5. Herman Suede, “Kumbaya”6. Moliy, “Ghana Bop”7. Ria Boss, “Call Up”8. Harmonize, “Single Again”9. Chile One Mr Zambia, “I Love You”10. Black Sherif, “Kwaku the Traveller”11. Jux, Marioo, Papi Cooper & Tony Duardo, “Nice (Kiss)12. Zuchu, “Utaniua”13. Yo Maps, “Aweah”14. Alikiba, “Mahaba”15. Jay Melody, “Sawa”16. Mbosso feat. Costa Titch & Alfa Kat, “Shetani”17. Sarkodie feat. Black Sherif, “Country Side”18. Platform Tz & Marioo, “Fall”19. Darassa feat. Bien, “No Body”20. Chef 187 & Blake, “Nobody”21. Kuami Eugene & Rotimi, “Cryptocurrency”22. Coolguy Pro, “Cherry”23. Marioo & Abbah, “Lonely”24. M3NSA, “Fanti Love Song”25. Baaba J, “Lumumba”
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Spotify has found itself under high scrutiny over reports that diversity funds created after Joe Rogan’s controversial deal have yet to be doled out.
According to reports, the Creator Equity Fund which was created by Spotify Technology SA in the wake of staff being upset over the expensive deal Joe Rogan signed for his podcast has been barely touched. The fund, which contains $100 million, was meant “for the licensing, development, and marketing of music (artists and songwriters) and audio content from historically marginalized groups.” The report estimates that based on data from Parcast, a podcasting network at the company, “less than 10% of its funding” has been spent towards that goal.
Sources for the report said that multiple factors are to blame and “has suffered from shifting priorities,” with the project behind schedule in hiring an eight-person committee to oversee the spending and not even completing their budget for 2023 among them. The $100 million was slated to be spent over a period of three years, but Spotify did not have a set infrastructure in place to vet and allocate money from the fund.
The fund was announced by Spotify’s CEO Daniel Ek in February 2022 after employees at the streaming giant expressed their displeasure over Rogan signing a distribution deal for his controversial The Joe Rogan Experience podcast. The deal was first believed to be worth $100 million, but it was later reported to be worth over $200 million. In addition, Ek refused to nullify the deal even after the removal of 70 previous episodes of the podcast where the N-word and other racially charged terms were used. The backlash from employees was initially sparked by artists offended by Rogan’s behavior which included Neil Young, who objected to his spreading of disinformation about COVID-19.
A representative for Spotify responded to the reports via email, refusing to comment on the details of the fund but saying it has spent more than the 10% percent that’s been reported. “The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help elevate and support an inclusive and diverse portfolio of artists and creators on the platform,” they wrote. “We are able to empower and uplift underrepresented voices around the world.” They also cited projects they’ve supported such as the LGBTQ music promotion program Glow, marketing campaigns for Black artists like Kaytranada, and an expanded relationship with HBCUs such as Spelman College in Atlanta, Georgia.
She needed to lose you to gain streams — one billion, to be exact. Selena Gomez has surpassed a billion Spotify listens for her blockbuster 2019 track “Lose You to Love Me,” a milestone she celebrated on Instagram Wednesday (March 22).
The streaming service announced the news on social media, tweeting, “All the love for@selenagomez ❤️ Congratulations for 1 Billion streams on Lose You to Love Me #BillionsClub.”
Spotify also posted about the landmark on Instagram, which the “Calm Down” singer re-shared on her Story. “Grateful,” she wrote, adding a heart emoji.
“Lose You to Love Me” isn’t the first song Gomez has landed in Spotify’s billion streams club, but it is her first solo effort to reach the mark. Previous entries include collaborations on “It Ain’t Me” with Kygo, “Wolves” with Marshmello and “Taki Taki” with DJ Snake, Ozuna and Cardi B.
Released as the lead single off the Only Murders in the Building star’s third studio album, Rare, “Lose You to Love Me” marked Gomez’s first No. 1 on the Billboard Hot 100. It was a streaming powerhouse from the very beginning, becoming the singer’s first song to top the Streaming Songs chart shortly after its release.
“When I wrote the song ‘Lose You to Love Me,’ I was kind of a mess,” she told Billboard in early 2020. “It was really difficult for me. And by the time we shot the music video at the end of the year, it had a completely different meaning, and it was so freeing. It was actually fun for me – I think, because I let it go, it actually meant that I let it go within myself as well. And I couldn’t have asked for a better way to close a chapter in my life.”
Join a billion other listeners in streaming Selena Gomez’s “Lose You to Love Me” below:
MUMBAI – Spotify has removed Indian record label Zee Music Company’s catalog after negotiations for a renewal of their licensing agreement fell through, Billboard has learned. As a result, the No.1 track on Spotify in India over the past two weeks, “Apna Bana Le” from the soundtrack to the 2022 Hindi film Bhediya, is no longer available on the platform.
“Spotify and Zee Music have been unable to reach a licensing agreement,” Spotify says in a statement sent to Billboard. “Throughout these negotiations, Spotify has tried to find creative ways to strike a deal with Zee Music and will continue our good faith negotiations in hopes of finding a mutually agreeable solution soon.”
Anurag Bedi, the chief business officer at Zee Entertainment Enterprises, declined to comment.
Apart from Spotify, Zee Music Company is also absent from Gaana, which it disappeared from in 2022 only a few months before the Indian audio-streaming platform became a subscription-only service.
On March 14, the last day its releases could be streamed on Spotify, Zee Music had over two dozen tracks on Spotify’s Daily Top 200 Songs chart for India. These included long-running Bollywood hits such as “Maiyya Mainu” from Jersey (2022), the title tracks from Kalank (2019) and Pal Pal Dil Ke Paas (2019), “Makhna” from Drive (2019), “Namo Namo” from Kedarnath (2018) and “Zaalima” from Raees (2017).
The label’s catalog also includes soundtracks to films distributed by sister company Zee Studios, such as the 2018 rom-com Veere Di Wedding and the 2019 hip-hop-centric Gully Boy.
Zee Music Company, which is part of the Zee Entertainment Enterprises media conglomerate, is one of India’s largest domestic record labels. Its YouTube subscriber base of 93.6 million makes it the second most-subscribed-to Indian music channel after global leader T-Series, which boasts 239 million subscribers.
Only four of the 20 stocks in Billboard’s Global Music Index were in positive territory this week: Spotify climbed 4.5% to $127.09, Tencent Music Entertainment rose 4.4% to $7.85, Warner Music Group increased 1.5% to $30.21 and Reservoir Media improved 0.2% to $6.15.
Stock markets were rattled again this week by problems in the banking sector. Following a run at Silicon Valley Bank last week, Signature Bank and First Republic faltered this week. Credit Suisse required the backing of the Swiss National Bank on Wednesday after its biggest shareholder refused to inject money to provide much-needed stability. The Dow Jones Industrial Average fell 0.1% this week after dropping 1.2% on Friday (March 17). The S&P 500 improved 1.4% on the week despite falling 1.1% on Friday.
The Global Music Index declined just 0.4% to 1,188.02 despite most stocks falling into negative territory. Spotify and Warner Music Group are two of the most valuable companies in the index. Other large companies had only small declines: Universal Music Group dropped 1.7% to 21.38 euros, SiriusXM fell 0.8% to $3.64 and Live Nation declined 0.4% to $66.36.
The biggest loser of the week was K-pop company SM Entertainment, which fell 23.5% to 113,000 won after HYBE canceled its bid to take control of the company. Last week, SM Entertainment was the Global Music Index’s biggest gainer, improving 14.4% to 147,800 won, after Kakao announced a tender offer to acquire up to a 35% stake from minority shareholders at 150,000 won per share.
The soft advertising market continued to be a problem for radio companies’ stocks. iHeartMedia dropped 12% to $4.31 and Audacy fell 12.5% to $0.14. Morgan Stanley analysts cut the price target for iHeartMedia to $5 from $8 due to “concerns regarding the long-term growth potential of broadcast radio,” according to a March 16 investor note. Year to date, iHeartMedia is down 29.7%, Cumulus Media is off 35.9% and Audacy has declined 39.1%.
In the last 25 years, the music industry has evolved in huge leaps: the arrival of Napster in 1999, the launch of the iTunes music store in 2003 and YouTube’s debut in 2005 are notable, epoch-defining events. But progress often comes in a series of small steps forward.
One such small step is Spotify’s Loud & Clear, an annual report that provides some transparency into the amounts of royalties the company pays each year. The third Loud & Clear report was released March 8 to coincide with Stream On, Spotify’s live-streamed media event where a parade of executives introduced new product features and discussed the future of the world’s largest music subscription service.
Loud & Clear is helpful because it puts artist royalties in context. Any artist knows how much they earned on a streaming platform. But Loud & Clear will tell an artist how they stack up to others. It’s one thing to make $100,000 in annual royalties but another thing to know how many other artists are also making at least $100,000.
“I think it’s very important for ecosystems to have an understanding of the shape and size of how results are going for different participants so that people can understand where they are, where they stand and how the ecosystem is evolving,” says Charlie Hellman, Spotify vp, global head of music product.
And how well is the ecosystem evolving? Spotify wants to give “a million creators the opportunity” to making a living from their art — which could include both musicians and podcasters. That goal goes back to a statement by CEO Daniel Ek at its 2017 Investor Day. At the time, Spotify counted 22,000 artists as “top-tier” earners (it didn’t specify exactly how much they earned, however). Today, thanks to Loud & Clear, we can see a million creators are probably not making a living from their art. But as Spotify, and streaming in general, has grown in popularity, the number of artists making a sustainable amount — define that as you may — is slowly increasing.
There are 27,000 established artists defined as being in Spotify’s top 50,000 artists three straight years but outside of the top 500. In 2022, they earned an average of $224,000 from Spotify and averaged 1.45 million monthly listeners in 2022. So, they’re not superstars but they’re far from hobbyists. They’re also likely signed to record labels and receive only a fraction of those royalties.
In 2022, there were nearly 3,000 “catalog-heavy” artists that earned more than $100,000 on Spotify. Those artists earned over 80% of their streams from tracks five years old or older. Given that Spotify estimates other streaming sources account for 75% of an artists’ revenue, those artists probably earn around $400,000 a year in streaming royalties.
If streaming is going to provide a living for many musicians, the economics need to work for the independent musicians that make up a large portion of the working class. In 2022, a quarter of the 57,000 artists who earned $10,000 or more in royalties from Spotify in 2022 are self-distributed through the likes of DistroKid, TuneCore and CD Baby. That works out to nearly 15,000 artists, a 200% increase since 2017. That’s a far cry from one million. But as streaming platforms continue to grow, the number of self-distributed artists earning that amount will grow, too.
Increasingly, streaming platforms will facilitate other parts of artists’ careers, such as ticket sales and merchandise sales. Spotify lists some merchandise sales through third-party providers such as Shoptify and Merchbar. And although it hasn’t included merch sales in Loud & Clear, Hellman says, “I can imagine in future years doing more data share about that in particular. We didn’t do that this year, but it is a big strategic focus for us.”
Belmont University has appointed Brittany Schaffer, Spotify’s head of artist and label partnerships in Nashville, as the new dean of the Mike Curb College of Entertainment and Music Business, effective May 1.
“My career has focused on being a champion for people and ideas and innovations that have brought the music and broader entertainment industry together. At the same time, I have always been passionate about Nashville and its potential to be the creative center of the music business and a big player in the entertainment space at large,” Schaffer tells Billboard. “It’s an opportunity to align all the passions I have and all the work that I’ve done since starting my career into one place. It’s really exciting to be able to think about the legacy that the Curb College can leave on its students and how that influences the future of the music and entertainment space.”
Schaffer is the first female dean of the Nashville-based Mike Curb College of Entertainment and Music Business since it launched in 2003; she fills the role held for seven years by Belmont alumnus and longtime music industry executive Doug Howard, who retired last fall.
Dr. Sarita Stewart, associate professor of creative & entertainment industries, served as the interim dean for this academic year. Stewart will take on a new role as senior associate dean for Curb College, working alongside Schaffer on programming and curriculum.
Schaffer will report to the provost/executive vice president of Academic Excellence and will be responsible for the College’s academic programs and student enrichment initiatives. She will serve approximately 100 faculty and staff and more than 2,700 students in Curb College programs.Belmont’s music business program will celebrate its 50th anniversary during the 2023-24 academic year.
“I think it is a moment to celebrate the incredible work Belmont has done to get to this point,” Schaffer says of the milestone. “It is a program that is already recognized as one of the top entertainment and music business programs in the country and we need to celebrate that.”
She continues, “At the same time, I think the music industry and entertainment space are at a really exciting point of innovation. The landscape is changing faster than it probably ever has—the technology and business models that exist when students enter may look different by the time they graduate. It’s an exciting challenge to take on to think about how we prepare students to have a strong foundation in the fundamentals of the business, creativity and storytelling so they are prepared to navigate the changes that come that we can’t even anticipate. Also, right now, everyone wants to talk about Gen Z and those are our students. How do we create an environment where we are learning as much from our students as they are learning from us?”
Schaffer co-leads Spotify’s Nashville music team including overseeing the development and execution of Spotify’s global strategy to expand the country, Christian/Gospel and Americana genres. During Schaffer’s tenure, country music listening on Spotify grew by double digits annually, according to the streamer. She joined Spotify in January 2018, after serving as senior counsel for Nashville-based Loeb & Loeb, LLP.
Schaffer, who has been named to Billboard’s Country Power Players list for the past four years, is a magna cum laude graduate of both Vanderbilt University and Samford University’s Cumberland School of Law. She currently serves on the board of directors for the Country Music Association and Country Radio Broadcasters, as well as the St. Jude Country Cares Advisory Board. Schaffer is a Class of 2022 Leadership Music graduate.
Belmont president Dr. Greg Jones said via a statement, “Belmont’s Curb College has long been recognized for developing artists and executives who bring innovative leadership and creative storytelling to their roles throughout the entertainment industry. We are delighted Brittany Schaffer has accepted the role of dean, and I am confident that she will elevate our programs even further, deepening our connections within music, motion pictures and media while establishing new partnerships in Nashville, across the U.S. and around the globe.”
Belmont Provost Dr. David Gregory added, “Brittany will bring extraordinary passion, faith and experience to her new role as dean of Curb College. Her legal background and familiarity advocating for artists, writers, producers and more within the industry provide a unique perspective on the holistic education our students need to be successful in a variety of entertainment fields. Plus, though her time with Spotify, she has been on the leading edge of where these content rich fields are heading and is well prepared to ensure Curb College stays at the forefront of modern storytelling.”
Belmont alumni have risen to the highest ranks in Nashville’s music industry and include Universal Music Group Nashville president Cindy Mabe (class of 1995), Sony Music Publishing Nashville CEO Rusty Gaston (class of 1998) and Warner Chappell Music Nashville president and CEO Ben Vaughn (class of 2000).