Music Biz Buzz: AI Tunes, Spotify's New Tier, and Big Moves in the Industry
Hey music mavens! This week is buzzing with awesome updates from the world of streaming and music biz. Let’s break it down!
Deezer Swims in AI Beats!
Grab your headphones, because Deezer is diving into the AI revolution! The streaming service is now hit with a tidal wave of 50,000 AI-generated tracks every single day. That's a whopping 34% of their daily uploads! This is a major leap from earlier this year, kicking off with just 10,000 AI tunes in January. Will AI give your playlist a run for its money? Stay tuned!
Spotify’s ‘Premium Platinum’ Glitters
Spotify users, rejoice! A new glow-up is heading your way with the new ‘Premium Platinum’ tier. Rolling out as a pilot from November 13 across five markets — India, Indonesia, Saudi Arabia, South Africa, and the UAE — this new tier is Spotify’s answer to diverse user needs with pumped-up perks. Are you ready to level up your music game?
Leadership Moves at BMG
In the leadership lane, Thomas Coesfeld is set to steer BMG from January 2027. He’ll become the top boss at Bertelsmann, BMG's parent company. Coesfeld’s ready to rock this new chapter as he takes over the reins. Watch this space for how his leadership shapes the industry!
Sony Soars with Streaming! 💰
Big bucks are rolling in for Sony as they reported an epic $2.89 billion from music this past quarter. That’s thanks to skyrocketing revenues in both recorded music and publishing. Streaming alone shot up by 11.7% in recorded music and a mind-blowing 24.8% in publishing. Talk about hitting the high notes!
HYBE Expands in China 🌐
HYBE is turning heads and making moves in China! They’ve teamed up with digital powerhouses Tencent Music Entertainment and Alibaba to bring Weverse into the spotlight. With these partnerships, they're poised to make a splash in the Chinese music market. China's got some new musical vibes coming their way!
From AI tunes to new premium experiences and global expansion, the music scene promises an exciting future. Keep your ears open for more!