- Our Reddit community, r/Playlists, is experiencing continued rapid growth as we approach an audience size?of 18,000 users.
- We recently launched a TikTok page, which will increase our outreach to?a new audience in a new format.?
- We are hiring an in-house front-end developer to work on our mobile application.
- Our discussions with potential investors to fund our mobile application development are progressing well. We are optimistic about the outcome and look forward to sharing some exciting news in the coming weeks.
- Recently, we discussed changing laws in Canada that would require music streaming platforms to give a certain percentage of their revenue to funds that would assist rising musicians. The law will take effect on September 1st. This week, Amazon, Apple, and Spotify have all filed lawsuits against the anticipated law. These streaming sites’ challenges are also joined by numerous movie studios, who will soon face similar regulations. The outcome of these cases will determine the price and availability of these services in Canada for the foreseeable future.?
- New reports suggest that up to 10% of global music streaming is a result of fraudulent streams. This represents roughly 2-3 billion US Dollars worth of royalties paid by streaming platforms to artists. These fraudulent streams are usually conducted by bots who will continuously stream an artist’s music. Another strategy is for people to make fake musicians and then have that fake artist’s music streamed on repeat. These fraudulent streams hurt the industry as a whole because it limits the amount that can be given to other artists and the burden often falls onto the consumer who pays an increased subscription fee as a result.?
- Youtube Music announced a feature that would create radio stations personalized by an AI. This feature would allow users to write a prompt for a radio, and then an AI would curate song selections based on that prompt. Will an AI be able to curate a quality selection of music? Only time will tell.?
- Many artists are experimenting with new strategies to release their music. They are no longer immediately placing their music on streaming services. Since many artists feel that their music is undervalued by streaming services, some are focusing on early releases solely in physical formats like vinyl or CDs. The idea is that a strategy like this can boost the anticipation and sales before the music is available on streaming.?
