From Spotify’s latest rebrand to Elon Musk’s multi-billion dollar offer to buy Twitter, we’ve gathered all the news you need to know in one easy-to-read place.
Wow! The second full week of April was one to remember. Every week in music is full of surprises, but this one took the cake. Whether you’re still blown away by the 521% rise in viewership for the CMT awards on Monday night or still fighting to get that new Harry Styles song out of your head, we won’t blame you for feeling a little tired today.
We cannot ease your workload or give you more hours in the day, but we can help you stay informed. Below you’ll find the biggest stories of the week, all covered by the best outlets in tech and entertainment. Click around, learn what’s happening, and use the weekend to prepare for the end of the month.
But let’s be honest. There is no way we can hope to cover everything that happens. If you see a headline we missed that people need to know, please do not hesitate to send james@haulix.com an email. We’ll include your links in the next update.
The Biggest Stories In Music This Week
Spotify Brings Live Audio to Main App, Rebrands Greenroom as Spotify Live
Spotify has announced it will integrate the live audio capabilities from its companion app, Spotify Greenroom, within the main Spotify streaming app. Greenroom will also rebrand as “Spotify Live” as part of these changes. At launch, Spotify’s main app will only feature live content from select original programming, while the standalone Spotify Live app will continue to allow independent creators to go live.
While both apps will now feature live content, there will be some differences, the company told TechCrunch.
Spotify Live will continue to work as Greenroom did, by allowing creators to interact with their audience in real time and serve as a creation mechanism for hosts. But live listening in the main Spotify app will not support the interactive features, like audience questions. Instead, it offers the ability for creators to reach a broader audience of Spotify’s 406 million global listeners.
For the time being, only Spotify’s own original programming will livestream in the main app, the company noted.
Virtual Avatar Company Genies Raises $150M at $1B Valuation
Genies, a Los Angeles-based avatar startup with close ties to the music industry, raised $150 million in Series C funding led by Silver Lake and existing investors Bond, NEA and Tamarack Global, the company announced today. The deal values Genies at over $1 billion.
The six-year-old company has partnerships with Universal Music Group and Warner Music Group as their official avatar and digital goods NFT provider, and has partnered with artists including Cardi B, Justin Bieber, Rihanna, Shawn Mendes, J Balvin and Migos. Genies creates virtual identities for artists to use across the metaverse and releases digital wearables – such as a J Balvin space suit and a Mendes digital hoodie — for fans to collect and wear in the metaverse. Last year, Genies widened its ambition by launching a marketplace, The Warehouse, to allow individual designers to buy, sell and trade avatar designs.
“We believe avatar ecosystems are going to shape Web3 the same way that mobile apps defined Web2,” said CEO Akash Nigam in a statement. “In Web3, Gen Z avatar ecosystem builders are going to be the leaders of innovation and, through our creator tools, we strive to empower their wildest imaginations, ideas, and experiences as avatar creations.”
Live Nation’s Veeps Brings Livestream Concerts to IOS, Android, Roku, Etc.
Veeps, the streaming platform founded by Benji and Joel Madden of Good Charlotte and acquired by Live Nation, has announced a new series of consumer apps and slate of concerts to go with them.
Forthcoming livestreamed concerts include Kings of Leon from London’s O2 Arena, dance act Galantis from the stunning Red Rocks Amphitheatre in Colorado, the folk-rock duo Indigo Girls, Icelandic blues-rock band Kaleo), singer/songwriter LP, avant-metal singer Poppy and Guns N’ Roses’ Slash and his group with Conspirators.
The new products mean that viewers can receive the stream directly in their televisions without having to cast from a phone, screen-share or connect with cables; at the same time, the phone and tablet service has been upgraded to native app quality.
Veeps apps are available for free download on Apple TV, Roku, iOS, and Android.
Elon Music Makes $43 Billion Unsolicited Bid To Purchase Twitter
The richest person on Earth is looking to extend his stake in Twitter from 9% to 100%.
Elon Musk has made a controversial offer to buy Twitter Inc., saying the company has extraordinary potential and he is the person to unlock it.
The world’s richest person will offer $54.20 per share in cash, representing a 54% premium over the Jan. 28 closing price and a valuation of about $43 billion. The social media company’s shares soared 18% in pre-market trading.
Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday, after turning down a potential board seat at the company. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4. Tesla shares fell about 1.5% in pre-market trading on the news.
Latin Music Revenue In The US Experiences Double-Digit Growth For Sixth Consecutive Year
RIAA’s just-out year-end U.S. Latin music revenue report for 2021 shows a sixth consecutive year of double-digit growth for the genre, with revenue up 35% from 2020 to $886 million, the highest recorded figure (before adjusting for inflation) in history. According to RIAA, Latin music’s level of growth outpaced that of the overall recorded music business, as recently reported. Latin’s share of total U.S. music revenue also continues to grow, from 5.4% in 2020 to 5.9% in 2021.
Streaming, accounting for 97% of Latin music revenue in 2021, saw a 36% gain from 2020 to a best-ever $857 million, driven by paid subscriptions’ 69% share of streaming revenue, itself up 35% to $593 million. Making up 9% of Latin music streaming revenue is radio’s share from digital and customized services such as SiriusXM and Pandora, which grew 22% to $77 million in 2021 following a slight decline in 2020.
“Latin music continues to rise, powering the overall music market and connecting with fans in a historic way,” RIAA Chief Operating Officer Michèle Ballantyne says. “In a year when Bad Bunny was the most streamed artist in the world, stars like Becky G and Anitta pumped out chart-topping hit after chart-topping hit, and audiences joyfully flocked to Latin-powered stadium and arena shows as live performance ramped back up, Latin label teams and artists continue soaring to new heights.”
BONUS: Ambient Music Isn’t A Backdrop. It’s an Invitation To Suspend Time.
This week, The New York Times ran a length essay from critic Isabelia Herrera on ambient music and the role it plays in our lives/culture. It’s a fascinating deep dive that benefits from Isabella’s willingness to share personal struggles she’s experienced as of late. Don’t miss it!
SONG OF THE WEEK: Zach Bryan – “Late July”
Have you ever heard a voice and knew immediately that your life was about to change? That’s how we felt the first time someone showed us the talents of Zach Bryan. A self-made man writing songs of love and loss set in middle America, Bryan is gearing up to lease an epic, 31-track debut album later this year. “Late July” is one of many songs off that record, and it has been tugging at our heartstrings for days. Enjoy:
