Satellite radio giant SiriusXM is acquiring online music service Pandora Media in a $3.5 billion all-stock deal. The deal should help John Malone’s SiriusXM reach beyond its current audience that most commonly listens while driving, and better compete with Spotify. The satellite radio operator paid $480 million last year for a 19 percent stake in Pandora when it started losing subscribers to streaming services. Billionaire Malone has been expanding his radio empire; in addition to the Pandora deal, his Liberty Media has expressed interest in iHeartMedia. Continue reading Sirius to Acquire Pandora Media in $3.5 Billion All-Stock Deal

Drake’s new album “Scorpion” has set multiple Apple Music records; it quickly became the fastest-growing album in the service’s history, topping Apple Music charts in 92 different countries. Meanwhile, according to “confidential details” shared with Digital Music News by a “U.S.-based, major distributor,” Apple Music now has more paid subscribers in the U.S. than Spotify. The report notes that Apple Music and Spotify both have more than 20 million U.S. subscribers. However, Apple’s stronger rate of growth suggests it is on a trajectory to increase its lead in America. Continue reading Drake’s Album Sets Records, Apple Music Surpasses Spotify

Pandora co-founder and CEO Tim Westergren plans to step down from his position running the 17-year-old streaming music pioneer. The company has yet to select a replacement. Earlier this month, satellite company Sirius XM announced it would invest $480 million in the web radio service for a 19 percent stake in the company and three board seats. Despite a user base of 80 million, “Pandora has struggled to generate enough advertising revenue to cover the cost of the free service,” reports Recode. “Meanwhile, music listeners have begun gravitating to the on-demand subscription services of Spotify, Apple and others, which offer ad-free access.” Continue reading Westergren to Step Down as CEO of Music Service Pandora

The Recording Industry Association of America reports that streaming is booming, more than offsetting declines in CD sales and digital downloads. In 2015, overall revenues rose almost 1 percent to $7 billion, the fifth consecutive year that the market grew — albeit slightly — in wholesale value. But artists and their representatives are saying that the gains aren’t being fairly shared, since many users still listen for free. In 2014, for example, on-demand streams grew 63 percent while revenue increased only 34 percent. Continue reading Streaming Boosts Music Revenues, But Not Equally for Artists

As part of its continued media and digital content expansion to take on companies such as Netflix, Amazon is set to acquire online comedy service Rooftop Media. The service gives viewers access to live and on demand recorded content from comedy acts across the country. While specifics of the deal remain undisclosed, the 10-person company will be acquired by Audible, a growing seller of online audiobooks that Amazon purchased in 2008 for $300 million. Continue reading Amazon Expands Entertainment Offerings with Comedy Service

According to a recent Piper Jaffray study, contrary to popular belief, teenagers have yet to abandon the MP3 as the traditional way to listen to music. Given a sample of about 7,200 teens, Piper Jaffray concluded that nearly 42 percent preferred an MP3 player to Pandora, local radio, CDs, Sirius XM and other streaming services. This data however, omits key trends, including the use of Spotify and YouTube, and may not be the best interpretation of how teenagers listen to music today. Continue reading New Study: The Mystery Behind the Way Teens Listen to Music

During her keynote at VidCon in Anaheim, YouTube CEO Susan Wojcicki announced new and upcoming tools designed for content creators. Wojcicki unveiled a creator tip jar, analytics app, fan-submitted subtitles, channel management tools and more. The new products are intended to engage a larger worldwide audience, help build successful businesses and manage creative work. She also noted that YouTube’s new ad campaign has helped more than double awareness of creators. Continue reading VidCon 2014: YouTube CEO Unveils New Tools for Creators

The Copyright Royalty Board has ruled to increase royalties for satellite radio services. Sirius XM Radio currently pays 8 percent of its gross revenue in royalties, but this will increase to 11 percent by 2017, reports The New York Times. The satellite radio companies will pay the royalties to nonprofit SoundExchange, which then distributes the royalties to labels and musicians. Continue reading Royalties for Satellite Radio Companies to Increase Through 2017