Spotify and Warner Music Group have entered into a new multi-year agreement covering recorded music and publishing that will see the companies “work together to shape the future of audio-visual streaming and enhance the value of music.” The news followed Spotify’s Q4 earnings report that included the company’s first annual profit, with net income of $1.18 billion. Paid subscriptions were up 11 percent for the quarter, closing the year with 263 million premium users and record engagement growth overall, with 35 million new monthly active users for the quarter. Moving forward, the company is looking to new subscription tiers and content bundles. Continue reading Spotify Signs New WMG Deal and Teases Additional Paid Tiers

YouTube Shorts, intended to rival video-sharing social media platform TikTok, rolled out in beta to a small group of U.S. users, after debuting first in India last fall. Shorts project lead Todd Sherman said the company plans to experiment with advertising and monetization features for creators “later this year.” In beta, Shorts offers the ability to add text to points in the video and sample audio from other Shorts. Similar to TikTok, YouTube Shorts is focused on music. Shorts, however, integrates with the larger YouTube platform. Continue reading YouTube Debuts Would-Be TikTok Rival ‘Shorts’ in U.S. Beta