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Live Nation shares fall after Astroworld Festival tragedy

Live Nation issued a statement this weekend following the deaths and injuries at the Astroworld Festival in Houston, promising to “continue working to provide as much information and assistance as possible to the local authorities as they investigate the situation”.

The company’s involvement in the event has already had an impact on its share price, with the Financial Times noting that Live Nation lost more than $1bn in market value following the concert – and a flurry of lawsuits that has already begun raining in.

The FT reported that one lawsuit, filed on behalf of attendee Kristian Paredes, is seeking $1m in damages from Live Nation, the venue, Travis Scott and Drake (who came on-stage for a guest spot at Astroworld on Friday).

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Steve Stoute: ‘If Drake goes independent, the music business is over…’

Shock news! The boss of a high-profile distributor that helps artists to operate outside the traditional label system reckons a big artist will soon decide to operate outside the traditional label system!

Steve Stoute offered his views on Drake during an online event hosted by his company, UnitedMasters, during a conversation with rapper Russ. And yes, his opinion isn’t shock news at all, but it’s worth thinking about nonetheless.

(You can watch the interview here: the Drake bit starts around 47 minutes in.)

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Billie Eilish wins big in Apple awards and Spotify 2019 stats

What we need, said almost nobody in the music industry, are a few more awards ceremonies. But now we have two, from the world’s biggest subscription music-streaming services.

Spotify’s first awards will take place in Mexico City next March, driven entirely by its data, but Apple Music’s first event took place overnight, chosen purely by the company’s editorial team. The simplification of Spotify as ‘algorithms’ and Apple Music as ‘humans’ is a complete fallacy, but dammit if the two services’ awards aren’t playing right in to it.

Spotify’s awards don’t even have nominees yet, but the company did (also overnight) just release its ‘Wrapped 2019’ data for the most popular artists and music on its platform this year. So what can we learn? There’s fun to be had comparing the 2019 stream-count for Billie Eilish on these fierce rivals.