Streaming round-up – January 2024

by IDOL
News
26.01.24
Stay up to date on the latest in streaming news with our monthly round-up. This month, Soundcloud's gearing up for a big move, Amazon Music unveils a powerful promo tool, and Spotify is rolling out the red carpet for superfans. Don’t miss a beat!

The figure of the month: 152 million tracks had 1,000 plays or fewer on DSPs last year- 45 million had no plays at all. More info on Music Business Worldwide.

Economy

Apple
Apple Music Classical launches in China, Japan and South Korea. More info on Music Ally.

Beatdapp
The music streaming fraud detection company Beatdapp raised $17 million and signed partnerships with Universal Music Group, SoundExchange and Napster. More info on Music Business Worldwide.

Beatport
Beatport claims over $100 million in 2023 revenue. More info on Billboard.

Bytedance
Following a government ban, Bytedance, the parent company of TikTok, is shutting down its music streaming service Resso in India. More info on Complete Music Update.

Discord
Due to overly rapid growth, Discord is to let go of 170 employees. More info on TechCrunch.

Google
Following a heavy fine, Google is to change its rules regarding in-app payments on Android devices. More info on Complete Music Update.

LyricFind
LyricFind acquired Rotor to facilitate video creation. More info on Music Week.

Meta
Meta has been accused by privacy protection organization Noyb of breaching European legislation by offering a choice that makes it more difficult for users to refuse ad tracking. More info on TechCrunch.

Soundcloud
As SoundCloud considers options for sale (or investment), it hires former Kobalt executive Tom Sansone as CFO and COO. More info on Music Business Worldwide.

Spotify
The MLC wants to audit Spotify and other DSPs to check the accuracy of their royalty payments. More info on Music Business Worldwide. Spotify claims that the EU’s Digital Markets Act (DMA) will allow the creation of “superfan clubs”. More info on Music Ally. Following the announcement of a streaming tax in France, Spotify withdraws its support for two French music festivals. More info on Music Ally.

Triller
Despite several setbacks, TikTok’s rival Triller has not given up on its ambition to be listed on the New York Stock Exchange. More info on Music Business Worldwide.

Twitch
Amazon will be forced to restructure its Twitch teams. More info on The Guardian.

X / Twitter
X’s value has plummeted since Musk bought the platform and rebranded it. More info on The Guardian.

YouTube
YouTube Music is extending its partnership with the European Music Managers Alliance, an initiative that should benefit more than 2,000 managers across Europe. More info on Music Business Worldwide.

New features

Amazon
Music startup Splash is launching a new feature on Amazon’s Alexa to create songs using Splash’s AI. More info on Music Ally. Amazon Music for Artists launches Hype Deck, a new promotional tool. More info on Music Ally.

Instagram
Instagram allows users to create personalized stickers from still image posts. More info on Social Media Today. Instagram’s new “night nudges” aim to reduce the amount of time teenagers spend on the app. More info on TechCrunch.

Spotify
Spotify does not want to develop an application for the Vision Pro headset. More info on Complete Music Update.

Soundcloud
SoundCloud is integrating AI tools to help artists upload their music directly. More info on Music Week.

TikTok
TikTok is testing an “AI Song” tool to generate lyrics. More info on Music Business Worldwide. TikTok has teamed up with Peloton to create a #TikTokFitness hub on the social network. More info on Music Ally.

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