As Midsummer came and went and the days slowly but surely began to get a little shorter and darker in the Northern Hemisphere, the music industry kept buzzing with high energy.
300 million online viewers came to watch online music performed during broadcasts by esports firm ESL in 2017. So it is thatESL has now partnered with Universal Music Group to launch a joint-venture label that’s going to sign and promote music artists across ESL’s esports tournaments and channels. ESL hosts many big-time esports events and competitions around the globe, including the Intel Extreme Masters, ESL One, and ESL National Championships. Universal and ESL say that they’re intent on giving fans “the ultimate destination for gaming and music fans alike”. In February, research firm Newzoo predicted that the global esports economy would grow to $905.6m by the end of this year, including $174m from advertising, $359m from sponsorships, and $161m from media rights and content licensing.
60 percent is how much the music streaming industry grew in India in 2017. As a result, Nielsen company Gracenote has begun to expand its database solutions technology for music into the admittedly complicated music industry of that nation. India is in need of a database management solution for its musicians, singers, and songwriters because there are more than 1,000 Bollywood movies made there annually, and the nation’s professional music scene is heavily tied in with the movie industry. The country’s 22 officially spoken languages don’t make things any easier on database organisation. Gracenote says that what it intends to do is “help solve India’s music data challenge by normalizing Artists, Albums, and Recordings with a proprietary ID system that associates the right content with the right recording artists, actors, and music directors.”
$76.5 million is how much the pioneering streaming music service Napster brought in during the first half of 2018. That’s down 28% from $106 million in the first half of 2016 (the company’s greatest year ever). But, unlike most of its competitors, Napster is on target to actually turn a profit in 2018. Napster recorded net profits of $4.4 million and $2.1 million respectively in the first two quarters of 2018. Rhapsody International, Inc bought Napster from Best Buy in 2011 and began operating it outside the US while it retained its own Rhapsody music streaming service and brand in the US until 2016, when it renamed it “Napster” in the US.
£6.8 thousand is all the revenue reported for the first half of 2018 by virtual-reality music startup MelodyVR. The company launched its app commercially in the US and UK on 1 May, following that up with a launch in eight more European countries on 26 June. MelodyVR reported a net loss of a little bit less than £4.4 million for the first half of 2018, due to the costs associated with launching its service and creating content. However, the company is quite optimistic about its future, stating that “our early metrics regarding user engagement and conversion rates are extremely encouraging and remain on track with management expectations”.
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