Industry News Roundup // 07.14

Every week, we’re sharing the latest news and information for the music industry and technology worldwide.

Get your learn on and stay in the know with Symphonic’s Music Industry News Roundup!

Facebook Reveals Plans to Negotiate with Existing Digital Music Platforms

In a new ad for a ‘Music Business Development Manager’, spotted by MBW, the West Coast-based company reveals that it’s seeking an individual to ‘lead Facebook’s strategy and negotiations with digital music services, as well as collaborate with our product, media partnerships and platform partnerships teams to ensure a coordinated and best-in-class approach’.

\\ Via Music Business Worldwide //

Spotify just struck a crucial deal with Sony Music

Sony Music and Spotify have finally reached a licensing agreement. As first reported byBillboard and confirmed to The Verge by a source close to the situation, the deal will go into effect immediately. Sony Music, one of the biggest record companies in the world, owns RCA and Columbia and represents artists from Journey to Avril Lavigne to Future to The Chainsmokers.

\\ Via the Verge //

Why Spotify’s Fake Artists Problem is an Epidemic. Literally. 

MBW’s revelations about Spotify repeatedly adding ‘fake artists’  to its key playlists have been the talk of the global music business this week.

Yet one nagging question has been raised time and again in response, both by those up in arms about the news and by those who reckon it’s a lot of fuss about nothing: what exactly does Spotify have to gain by feeding its listeners these pseudonymous artists?

\\ Via Music Business Worldwide //

SoundCloud Has Just 50 Days to Live…

The countdown for SoundCloud’s final days has begun: 50, 49, 48, 47, 46…

Earlier this year, SoundCloud’s co-founder and CEO Alexander Ljung shocked investors and employees with a jaw-dropping statement.  He told investors,

“SoundCloud may run out of cash earlier than December 31, 2017…  These matters give rise to a material uncertainty about the Group’s ability to continue as a going concern.”

\\ Via Digital Music News //

A Guide to Surviving the Fall of SoundCloud

The end may be near for SoundCloud. Sources close to the company are reporting that the music streaming platform only has enough money to avoid bankruptcy for 50 days, despite laying off 40% of employees.

\\ Via Noiseprn //