Best Buy Stops Selling Music CDs

“I guess I’m going to have to buy the White Album again.”

 

When was the last time you wanted to buy a CD? Because you probably can’t remember, Best Buy has reportedly stopped selling them.

The big box electronics retailer officially stopped selling music CDs Sunday, according to Billboard. Sales fell in recent years as music streaming services like Spotify and Apple Music gained in popularity.

Best Buy’s CD sales have recently brought in just about $40 million annually.

Continue @ CBS Los Angeles

Independent record labels get boost from streaming music services

For decades, independent record labels have dreamed that if only they had the massive budgets to get their artists in front of music fans, the fans would love the music – and maybe even choose it over offerings from major record labels.

Now, with streaming services such as Apple Inc and Spotify Technology SA becoming the dominant form of distribution for recorded music, at least some of that long-held dream seems to be materializing, according to a new report from the Merlin Network, a UK-based nonprofit group that negotiates with the streaming services on behalf of more than 20,000 independent record labels and distributors and handles routing payments.

Read @ CGTN (press release)

Barclays sees 20 percent gain for Spotify, says it’s reinventing how music is sold

A trader during the Spotify IPO at the New York Stock Exchange, April 3, 2018.

Spotify is reinventing the way music is sold and could gain upwards of 20 percent, analysts with Barclays said Tuesday.

“Our optimism around SPOT stems from the company’s history of creating best-in-class products and user experience and innovating ahead of peers,” Barclays analysts said in a note.

The firm issued an overweight rating on the stock and a price target of $210. Shares of Spotify gained 3 percent Tuesday to close at $175.98.

Read @ CNBC

Here’s why it’ll be tough for YouTube Music to catch up with Spotify and Apple

YouTube Music launches

Many of us happily play the field when it comes to streaming our favorite movie and TV shows, with multiple subscriptions to services like Netflix, Hulu, Amazon Prime, maybe HBO and more. Music, though, is a different animal – if you already pay for Spotify, in other words, you don’t necessarily need to plunk down coin for a rival service that’s just going to get you most of what you already have access to.

It’s into that fray and an arguably already crowded competitive landscape that YouTube Music has turned a soft launch in May into widespread availability — now having launched in 17 countries, including the U.S.

Read @ BGR

‘The Spotify for Books’ hasn’t worked yet. Here’s why.

No term garners more collective trepidation from the publishing industry than ‘the Spotify for Books’. From Oyster to Scribd, and Flooved to Entitle, countless outfits have professed to be on the brink of disrupting the world of books. So why have none achieved the runaway success of Spotify? Is the publishing industry fundamentally unsuitable to a model of unlimited consumption? Many would have you believe so. In reality, whilst the term has inevitably been overused, it has also been misused. This has paved the way for widespread confusion regarding business models and in many cases, unnecessary reticence from publishers.

Read @ The Bookseller

Spotify’s New Audiobook Series Is About To Make Music Superfans Swoon

In exciting news for music fans, Spotify are adding a series of musically minded audiobooks to its streaming service. Bloomsbury Publishing have signed a deal with Spotify to make the cult 33 1/3 book series available as audiobooks, which users will be able to stream directly from the site or the app. Excitingly, Spotify’s music audiobook series will land on the streaming service in the summer and the collection is vast; given there’s so much to pick through, these are the titles you shouldn’t miss.

Read @ Bustle