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Napster revenues down, but unlike music-streaming rivals it’s profitable

Music-streaming service Napster is on track to record a net profit in 2018, despite its revenues having dropped by nearly 28% since the company’s peak in 2016. Napster recorded net profits of $4.4m and $2.1m respectively...
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Tencent quarterly revenues up 30% year-on-year

Music didn’t get much of a mention in Chinese tech firm Tencent’s latest quarterly financial results, which saw the company’s revenues grow by 30% year-on-year to $11.1bn, with a net profit of $2.8bn. Tencent did...
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Dan + Shay ‘Tequila’ is most-streamed country track of 2018

Country artists Dan + Shay have had a big hit with their track ‘Tequila’ this year – including on streaming services. Label Warner Music Nashville says that the duo have just crossed 1bn on-demand career streams, including...
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Indian service Gaana says it now has 75m monthly users

In June this year, the CEO of Indian music-streaming service Gaana said that it had 60 million monthly active users. Just a couple of months later, that number has been upped significantly. CEO Prashan Agarwal revealed...
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China is fastest-growing smart-speaker market says Canalys

Amid a flurry of reports on the growth of the smart-speaker market, research firm Canalys has offered a different angle: it says that China is now the fastest-growing market for these devices. “Despite strong growth...
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Home audio market approaches $14bn

Yesterday we reported on the growth of the smart speaker sector, with Strategy Analytics saying that Google Home is starting to close in on Amazon’s market lead with Echo. Now Futuresource Consulting is reporting that...
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Mintel offers insight into digital’s impact on British live music fans

Mintel has published its Music Concerts & Festivals report for 2018 and it’s a hefty look into the key drivers around the live business in the UK as well as consumer insights (especially around price and experience) as...
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Baidu says its DuerOS voice assistant is on 100m devices

For all the focus on Alexa, Google Assistant and Siri, it’s been clear this year that voice assistants developed by Chinese technology companies are going to play a big role in the future of smart speakers – and indeed,...
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Drake hits 50bn streams milestone: here’s how that breaks down for Spotify, Apple Music and YouTube

Universal Music’s Republic Records has announced the latest digital milestone for Drake: he’s “the first artist to surpass 50 billion streams across all global streaming platforms”. The news comes just a month after...
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Snapchat financials reveal it lost 3m daily users last quarter

Snap, Inc reported its latest quarterly financial results last night, and the show the first ever quarterly decline in daily active users (DAUs) since Snapchat first launched. Ouch. Snapchat ended June with 188 million...
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iHeartRadio’s latest milestone is 120m registered users

iHeartRadio’s parent company may be enduring financial troubles, having filed for bankruptcy in March, but the streaming service has a new milestone to celebrate. “Thanks to all you music lovers, we’ve officially surpassed...
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Napster revenues are down by nearly 18% year-on-year

Music-streaming service Napster saw a notable year-on-year decline in its revenues last quarter, according to its latest financials. The company’s revenues dropped from $44.1m in the second quarter of 2017 to $36.2m in...