Want the economy to do well? Just look at streaming music services and online video games.
According to the Bank of England, multiplayer games and music apps like Spotify can give lawmakers a good “sense of what’s going on in the economy.” Andy Haldane, the bank’s chief economist, said that digital leisure apps may help policymakers “crack the problem of understanding the mood of consumers.” According to him, tracking multiplayer games and people’s taste in music apps could ultimately lead lawmakers to better gauge responses to monetary and regulatory policies.
200 million Spotify Premium users by 2022.
Morgan Stanley analyst Benjamin Swinburne estimates that could grow its total subscriptions to 200 million by 2022. He said that the platform’s personalized options have driven user engagement. In a note, Swinburne set an ‘Overweight’ rating and $190 price target on the company’s stock.
2018: The Year of the IPO.
Tencent Music Entertainment Group has invited investment banks to pitch for a role in its US IPO worth $4 billion. The music division of Chinese conglomerate Tencent Holdings plans to go public by the end of this year. Tencent Music will reportedly seek an IPO valuation of $25 billion.
What Adpocalypse?
Google will aim to improve the quality of ad-supported content in its Preferred program. The search giant will reportedly add inventory from YouTube TV. The move seeks to appease advertisers concerned about YouTube content. Last year, in a move dubbed ‘Adpocalypse,’ the video platform had monetized hate-filled and terrorist videos. Major advertisers, including Verizon, AT&T, and Johnson & Johnson, quickly pulled advertising money from YouTube. Google will make the pitch to marketers this Thursday as part of its annual digital ad sales season.
The Orchard strikes a deal with Nightlife.
The Orchard has signed a licensing deal with Australian business streaming platform Nightlife Music. Nightlife will now offer The Orchard’s catalog within brand playlists and through its in-venue music request app, crowdDJ. The streaming music platform has vowed to correctly pay rights owners. Its exclusive data will also provide a complete overview of when and where owners’ content is commercially used.
Celebrate Jazz Day with Deezer.
To mark International Jazz Day (April 30th), Deezer has announced a partnership with Jazz FM. The streaming music platform will launch Jazz Stories, a playlist focusing on five iconic jazz labels. The first Jazz Stories features Jazz FM’s Helen Mayhew discussing Universal’s Impulse! label. In between tracks, she discusses facts on the label’s inception, the track’s history, and the artist. Artists featured in the playlist include John Coltrane, Sonny Rollins, and Michael Brecker.
Can music save your brain?
According to a new study, music helps activate regions of the brain unaffected by Alzheimer’s disease. Researchers at the University of Utah found that music activates the brain, causing entire regions to communicate. The researchers helped patients select meaningful songs. They found that through patients’ personal soundtracks, the visual network, the salience network, the executive network and the cerebellar and cortico-cerebellar network pairs showed significantly higher functional connectivity.
Saving thousands of lives.
Help Musicians UK has announced a record high for lives it directly impacted in 2017, up 116% over 2016. The charity supported 14,000 music industry executives and musicians last year through various programs and services. This marked a new record in its 97-year history. In addition, 5,430 people were directly impacted through grants and funding across schemes including its Music Minds Matter mental health service.
Larry Harvey passes away.
Burning Man founder Larry Harvey has passed away. He was 70 years old. Harvey passed away peacefully at his home surrounded by family, according to Marian Goddell, current CEO of the Burning Man Project. He had suffered a massive stroke on April 4th.
Canada’s new IP strategy.
Canada has announced the launch of the nation’s new Intellectual Property (IP) Strategy. The strategy will amend key IP laws to ensure the removal of barriers to innovation, specifically loopholes that allow those seeking to use IP in bad faith to stall innovation for their own gain. In addition, it will also create an independent body to oversee patent and trademark agents, which will ensure professional and ethical standards are maintained. The strategy supports the provision of quality advice from IP professionals.
Glasgow Jazz Festivals aims for 50:50.
The Glasgow Jazz Festival has announced its 2018 lineup. Georgia Fame will return to the festival with his Family Trio. Orchestre Poly-Rythmo de Cotonou, one of Africa’s largest and longest-running orchestras, will also perform. The Glasgow Jazz Festival has signed-up to form part of the Keystone Project. The project encourages music festivals to achieve a 50:50 gender balance by 2022.
Honoring Canadian performers.
Pioneers of the Atlantic Canadian music scene will be recognized at next week’s ECMA 2018. Indie rock band Sloan will receive the ECMA Director’s Special Achievement Award. The ECMAs will also award a posthumous Director’s Special Achievement Award to Kevin MacMichael. Music manager, promoter, and publicist Lynn Horne will receive the Dr. Helen Creighton Lifetime Achievement Award. Geoff Arsenault will receive the Musicians’ Achievement Award.
Sara Osborn’s appointment at ISM.
The Incorporated Society of Musicians (ISM) has appointed former Music Publishers Association (MPA) executive Sarah Osborn as Head of Services and Operations. Since leaving the MPA in 2015, she has worked as a freelance consultant. Osborn has provided project management services to music publishing and wider creative industries. She will start serving in her new role on May 1st.
A sexual assault lawsuit quietly dismissed.
The sexual assault lawsuit against embattled Def Jam co-founder Russell Simmons has been dismissed. Jennifer Jarosik sued Simmons in January, claiming he had assaulted her at his home in Los Angeles. She had reportedly met him there to discuss a documentary. The dismissal came as lawyers for both Jarosik and Simmons reached an agreement. The lawsuit was dismissed “with prejudice,” meaning that Jarosik can no longer file new litigation in regards to the allegations. It’s unknown if a settlement was reached.
Bob Dylan’s new whiskey.
Bob Dylan has announced the launch of his own whiskey company called Heaven’s Door. The famed singer and songwriter will sell a straight rye, Tennessee bourbon, and a double barrel whiskey, among other bourbon products. Dylan will reportedly collaborate with Marc Bushala, co-founder of Angel’s Envy bourbon.
Will the ‘Remedy State’ help overworked musicians?
Former OWSLA label manager Blaise James DeAngelo and Ben Turner have collaborated on a new program. Dubbed Remedy State, the three-day venture retreat is designed for those who work in the music industry. The program includes nature walks, breathing workshops, and vegetarian food options. Those who choose to participate will also participate in talks of wellness and spirituality.
USA Network gets country.
USA Network has greenlit a country music showcase titled Real Country. The series will feature Shania Twain and singer and songwriter Jake Owens. Both will hand-select emerging solo artists, duos, and groups to perform in showcases that spotlight different country genres. The eight-part series will fall and will film this summer in Nashville.
Featured image in the Public Domain