Speculation that Warner Music Group might pull its planned IPO amidst recent market turmoil proved false, as the label roared out of the Memorial Day weekend with a potential $13.3 billion valuation. Before the break, Spotify made a $100 million podcast play, and a startup opened its artist credits database for all.
Warner’s I.P.O. reflects a revitalized industry. The global recorded music business had $20.2 billion in revenue last year, up from $14 billion in 2014.
Both record labels (and artists) and music publishers (and songwriters) should be watching the Joe Rogan deal – and Spotify’s current predilection for spending big on exclusive podcasts – very closely.
Jaxsta seeks to provide a broader array of information, including current chart data from around the world, industry awards, a calendar of industry events and other info on the world’s top 20 music markets.