Business Frame Weekly – Spotify Stock (SPOT) Is Surging/ Sony Music Masterworks Signs Strategic Deal

Spotify Stock (SPOT) Is Surging

Germany Reports 12% Streaming Growth in 2023, Reaching 1 Trillion All-Time Cumulative Streams

Sony Music Masterworks Signs Strategic Deal with Roast Productions

In this newsletter:

• Beatdapp has announced a fresh USD $17 million funding round and a strategic partnership with Universal Music Group.
• Sony Music Masterworks Signs Strategic Deal with Roast Productions
• Spotify Stock (SPOT) Is Surging
• Germany Reports 12% Streaming Growth in 2023, Reaching 1 Trillion All-Time Cumulative Streams
• COSCAP (Copyright Society of Composers, Authors and Publishers) has signed a partnership deal with CMRRA (The Canadian Musical Reproduction Rights Agency) and SX Works Global Publisher Services, both SoundExchange Companies.
• Music available in Spatial Audio on Apple Music will receive a greater share of royalties from the platform.

January 23, 2024

Beatdapp has announced a fresh USD $17 million funding round and a strategic partnership with Universal Music Group.

Beatdapp, a music streaming fraud detection company, has announced a fresh USD $17 million funding round and a strategic partnership with Universal Music Group. This comes alongside new collaborations with SoundExchange and Napster, marking a significant step forward in its mission to combat the growing problem of streaming fraud. Beatdapp says its technology analyzes massive datasets to sniff out fraudulent streams, ensuring rightful payouts for artists and rights holders. The company says it analyzed more than 2 trillion streams and 20 trillion data points in 2023, while onboarding key clients. Its five core types customers are DSPs (digital service providers), music labels, collection societies, creator tool services, and music distributors. The company claims to have a false positive rate of below 0.001%, which it says ensures fraud is eliminated while legitimate artists are protected. Beatdapp plans to use the latest funding to recruit senior leaders, expand its data science and technical teams, and venture into new markets such as Asia, India, and Europe.

Sony Music Masterworks Signs Strategic Deal with Roast Productions

Sony Music Masterworks launches a joint venture with UK-based live entertainment company Roast Productions. Sony Music Entertainment’s Sony Music Masterworks has announced a strategic joint venture with Roast Productions, a London-based live entertainment company founded by Bonnie Royal and Michael Stevens (pictured). Operating internationally, Roast Productions focuses on producing theatre, concerts, and family entertainment events.

Spotify Stock (SPOT) Is Surging

Despite suffering an approximately 3% slip during early trading today, Spotify stock (NYSE: SPOT) is surging relative to its peer group and the broader market. Spotify stock was worth $197.71 per share at the time of this writing – a figure that, besides marking the mentioned 3% decrease on the day, reflects a close to 5% increase from 2024’s beginning.That boost is particularly noteworthy given SPOT’s strong performance during the past 12 months, which have brought with them a more than 115% valuation spike. According to Kwhen Finance, Spotify stock’s year-to-date showing “beats the peer average by 1112.3%,” and the stock’s growth during the latter 12 months tops the peer average by 177.1%.

Germany Reports 12% Streaming Growth in 2023, Reaching 1 Trillion All-Time Cumulative Streams

Germany reports a 12% streaming growth in 2023, with German-language music now at over a trillion all-time cumulative streams. Music streaming is still in an upward trajectory in Germany, as an evaluation by GfK Entertainment in partnership with the Federal Music Industry Association, Bundesverband Musikindustrie (BVMI) shows. With nearly 213 billion streams measured in 2023, that’s a 12% increase over that measured in 2022 — and almost double the amount measured five years ago. Adding up all the data since 2013, German-language music streams now exceed over a trillion.

COSCAP (Copyright Society of Composers, Authors and Publishers) has signed a partnership deal with CMRRA (The Canadian Musical Reproduction Rights Agency) and SX Works Global Publisher Services, both SoundExchange Companies.

Barbados-based COSCAP (Copyright Society of Composers, Authors and Publishers) has signed a partnership deal with CMRRA (The Canadian Musical Reproduction Rights Agency) and SX Works Global Publisher Services, both SoundExchange Companies. According to the press release announcing the news, the deal marks “a significant international music rights management milestone”.COSCAP’s partnership agreement with CMRRA will see the latter oversee the mechanical reproduction rights of COSCAP’s members across the Canadian marketplace. Enhancing the partnership, the SX Works Global Publisher Services division will manage the end-to-end administration on behalf of COSCAP members with The Mechanical Licensing Collective (The MLC) in the United States.

Music available in Spatial Audio on Apple Music will receive a greater share of royalties from the platform.

Starting this month, music available in Spatial Audio on Apple Music will receive a greater share of royalties from the platform. In an update sent to its label partners on Monday (January 22), and seen by MBW, Apple Music confirmed that Spatial-available content will receive a royalty rate up to 10% higher than content not available in Spatial. According to Apple Music’s update to its label partners, starting with the January 2024 month-end royalty payments, “pro-rata shares for Spatial Available plays will be calculated using a factor of 1.1 while Non-Spatial Available plays will continue to use a factor of 1”.

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