Top Story This Week
Sprint Buys 33% of Jay Z’s Music Streaming Service Tidal
Sprint Corp. acquired a 33 percent stake in music-streaming service Tidal as the fourth-largest U.S. wireless carrier turns to media streaming to attract more customers with exclusive content.
Marcelo Claure, Sprint’s chief executive officer, will join the Tidal board and musician Jay Z will continue to run the business, according to a statement Monday. Financial terms of the deal weren’t disclosed. Sprint paid $200 million for the stake, according to a report in MusicBusinessWorldwide.
Other Music News Highlights
MusicFirst Coalition Pens Letter to Congress on Radio, Copyright Concerns. Dated Jan. 18, the letter outlines the group’s main aims in its pursuit of “market-based principles [that] drive compensation for all artists and creators whenever and however their music is played.”
CEO Susan Wojcicki Promises YouTube Red Expansion In 2017. “We’ll continue to roll out YouTube Red in new markets throughout 2017, giving creators another meaningful way to earn revenue from their content and fans access to brand new original series and films.”
Donald Trump Expected to Appoint Ajit Pai as New FCC Chairman. In his time at the FCC, Pai has been extremely vocal about his unhappiness with the agency’s heavy hand, and has signaled an intent to roll back the FCC’s “open internet” rules, also known as Net Neutrality.
Is Apple Getting Serious About Original Content? The iPhone maker is exploring producing original television shows and movies to turn its Apple Music subscription service into what Apple executive Jimmy Iovine described Jan. 14 as “an entire cultural, pop cultural experience.”
Have $9.99 Streaming Subscriptions Reached A Saturation Point? MiDIA Research’s Mark Mulligan wonders, based on the financially polarizing pricing structure currently being implemented by the streaming industry, if the number of customers willing to pay $9.99 has hit a saturation point.
Garth Brooks’ Ghost Tunes Folding Into Amazon Music. A digital and physical distribution platform billed as an alternative to iTunes that launched a little over two years ago, Ghost Tunes is apparently folding into Amazon Music.
Sony/ATV Responds Publicly To Paul McCartney Lawsuit. McCartney filed the lawsuit last week in the Southern New York District Court, claiming that Sony/ATV had repeatedly failed to confirm it would transfer US copyrights to the songwriter when the company’s legal rights expire.
Our best wishes for a great week! – MediaNet