Music-streaming subscriptions contribute $8.5 billion a year to the record business — but the biggest future growth may lie in social media, gaming, livestreaming, and fitness
Universal, Sony and Warner appear to have curbed their spending in 2020 while boosting profits. But what happens when record labels need to ramp expenditure back up next year?
"TikTok is a leader in this space and we are pleased to be partnering with them to drive music discovery," says a Sony Music exec about the deal, which will see more Sony artists being promoted on TikTok
Following the tech industry's lead, music's biggest companies have sent out memos requesting that employees stay home for the remainder of the year
While more than 1,000 companies are pausing Facebook spending due to the platform's policies around hate speech, the music industry has mostly ignored the boycott — or even increased its ad buys
The video for Cyrus' "July" strategically shows off Sony's ability to pair its music division with its other branches
"People don’t know how many black executives are at a label versus how many black artists," one label executive says. "The reality is we’ve all been desensitized to a degree"
A spate of new job listings suggests one of the world's biggest recorded music companies is investing new energy into video-game opportunities
Portion of fund will go to "supporting creators, artists, and other partners in the entertainment community who have been impacted by COVID-19," says Sony Music chairman Rob Stringer
Including those publishing figures, the three major labels earned more than $18 billion among them in 2019
