Top 10 Music Business News Stories of the Week

Music Business News Stories of the Week: Top 10 Developments

The music business is an ever-changing, dynamic industry that keeps music enthusiasts glued to their screens to keep track of the latest events in the music world. For music lovers, keeping abreast of recent news stories is an essential aspect of staying up-to-date with the current state of the industry. In this article, we’ll take a look at the top 10 music business news stories of the week.

1. Spotify Faces Royalty Lawsuit

Spotify has been hit with a lawsuit that alleges that the popular streaming service has failed to pay adequate royalty fees. The lawsuit comes as a blow to the service, which has already been under fire for not compensating artists and songwriters enough.

2. Music Masters Take Legal Action Against Reversions

Music masters are taking their fight against reversions to the courts after many years of being stuck in record deals. The acts, including The Chiffons, The Dixie Cups, and The Drifters, who recorded hits in the 1960s, are among many others who are frustrated with the owners of their masters.

3. BTS breaks YouTube Records Again

South Korean boy band BTS has once again broken records on YouTube, becoming the first band in history to have a music video surpass the 1 billion views milestone in 24 hours. Their latest music video “Butter” has since been viewed over 360 million times, a testament to their ever-growing fan base.

4. Apple Brings Lossless Audio to Apple Music

Apple has announced that it will introduce lossless audio to Apple Music starting in June. The news comes as a welcome development for audiophiles who have long been critical of the quality of digital music. High-fidelity audio will become available for free to all Apple Music subscribers.

5. Warner Music Partners with Songkick for Fan Concerts

Warner Music Group has entered into a partnership with ticketing platform Songkick that will allow artists to reach fans faster and more efficiently. The partnership will enable artists to offer a more personalized experience to their fans.

6. The Weeknd and Ariana Grande’s Collaboration Dominates the Charts

The Weeknd and Ariana Grande’s collaboration for “Save Your Tears” has been dominating the Billboard charts for weeks. The song has been a massive commercial success, reaching number 1 on the Hot 100 chart, occupying the top spot for three consecutive weeks.

7. AEG Announces Return to Full Capacity for Concerts and Festivals

Entertainment giant AEG has announced that it plans to return to full-capacity events by the fall. The move comes as the world slowly recovers from the COVID-19 pandemic, and people eagerly await the resumption of live music events.

8. Sony Music Launches New Platform for Emerging Artists

Sony Music has launched a new platform that is aimed at helping emerging artists become stars. The new platform, called ORNAMENCO, will offer a range of services, including artist development, and creative services.

9. TikTok Launches Music-Promotion Program

TikTok has launched a new program aimed at helping emerging artists and songwriters promote their music to the platform’s massive user base. Dubbed “#MakeItMusic,” the program will offer a variety of targeted tools and training for artists looking to promote their music.

10. The Rolling Stones Honor Late Drummer Charlie Watts

The Rolling Stones have paid tribute to their late drummer Charlie Watts. Watts, who passed away on August 24, 2021, was an essential member of the band and a legend in the music industry. The tribute was a beautiful reminder of the importance of music as an art form that connects people from all around the world.

Conclusion

In conclusion, the music industry continues to evolve, and staying abreast of the latest developments has never been more critical. The above-discussed events comprise the top music business news stories of the week, which highlight the dynamism and ever-changing nature of the industry. Whether it’s new music platforms, personalization, high-fidelity audio, emerging artists, tributes, or live concerts, there’s always something happening in the music world. It’s exciting to see what the future holds for the music industry and its ever-growing fan base.