Music Industry Business News: A Comprehensive Roundup of the Weeks Top Stories 🎵📰
Welcome to my weekly roundup of the latest news and trends happening in the music industry. As a music enthusiast and industry insider, I’m excited to share with you the most significant developments from the past week.
Let’s get started!
1. Live Nation and AEG release new protocols for concerts 🎤🎟️
Live Nation and AEG, two of the biggest concert promoters, have released new COVID-19 safety protocols for their upcoming shows. These new measures include mandatory masks for all attendees, vaccination or negative test requirements, and increased cleaning procedures. Other changes include reduced seating capacity, staggered entry times, and contactless payment options.
This is a significant move in the right direction for the music industry as it tries to recover from the pandemic’s effects. However, some fans have voiced concerns about mandatory vaccination requirements, with some threatening to boycott shows.
2. Jay-Z announces plans to launch a new music streaming service 🎧🚀
Music mogul Jay-Z is reportedly considering launching a new music streaming service. The platform is said to focus on serving independent artists, and there is reportedly already a waiting list of musicians who want to sign up.
This news isn’t all that surprising, considering that Jay-Z has a long history of disrupting the music industry. His previous business ventures, such as Tidal, have been controversial but successful.
3. TikTok partners with Spotify to offer full-length music streaming 📺🎶
TikTok and Spotify have announced a new partnership that will allow users to listen to entire songs within the TikTok app. This feature is currently only available to users in Canada and India, but a global rollout is expected soon.
This partnership is significant as it shows how social media platforms and music streaming services are working together to give users a seamless experience. Furthermore, this integration opens up new doors for artists to get their music heard on multiple platforms.
4. Rapper NFTs continue to gain popularity 💸🎤
Non-fungible tokens (NFTs) have become a hot topic in the music industry, with many rappers such as Lil Uzi Vert and Post Malone releasing their own NFTs. These digital assets allow fans to own a unique piece of the artist’s work, such as a unreleased song or video.
While some have criticized NFTs for contributing to the commodification of art, others view them as a way for artists to monetize their work directly and connect with fans in a new way.
5. Sony Music partners with Roblox for virtual concerts 🕹️🤖
Sony Music has partnered with popular gaming platform Roblox to host virtual concerts. The first of these shows will feature rapper Lil Nas X and will take place in November 2021.
These virtual concerts offer a new way for artists to perform and connect with fans. They also allow fans to experience a concert from the comfort of their own home, which is especially important in the age of COVID-19.
Conclusion
That wraps up this week’s roundup! We’ve seen some exciting developments, from new COVID-19 protocols to virtual concerts. It’s clear that the music industry is continually evolving, and I’m excited to see what the future holds.
