Daily Edit | Apr 8

Knocked Loose
Don’t Reach For Me (S)
Pure Noise 

Stories

After pulling their catalog from TikTok two months ago, UMG’s absence from the social platform has not seemed to substantially impact their market share. While undoubtedly effective in driving music discovery, this data raises the question of how much downstream engagement TikTok is responsible for at on-demand streaming services. 

After being given an April 7th deadline, it is now confirmed that WMG will not be acquiring Believe. The French global digital music company is estimated to be valued at around $1.6 billion USD.  

On the back of news about a pending price increase and new CFO hire, Spotify shares jumped 18%. The monthly subscription price is expected to yield a 9% revenue increase in affected markets. 

As they work on their upcoming documentary, Frightened Rabbit is asking fans to contribute their personal photos and videos. Fans wishing to submit can submit via an email to [email protected] with details on time and location. 

Following a $1.99 billion fine the EU for “thwarting competition from music streaming rivals via restrictions in its App Store,” Apple has announced plans to make it easier for music streaming apps in their European store to inform its users of alternative ways to purchase digital services. Good news for Spotify, which currently has about a 56% share of the European market.