Roxi announced this morning that it has appointed advisers for an initial public offering (IPO) on the London Stock Exchange in the final quarter of 2019.The company includes artists Robbie Williams, Sheryl Crow and Alesha Dixon among its shareholders, alongside all three major labels plus Merlin; and industry figures Paul McGuinness (formerly U2’s manager), Rob Dickins (ex WMG / BPI) and Henrick Holmark (ex Pandora).
For some good anecdotal data on TikTok’s current surge, though, try The Atlantic’s article about last week’s VidCon conference. Traditionally dominated by YouTubers, journalist Taylor Lorenz reported that “this year, the platform everyone is talking about isn’t YouTube – it’s TikTok”.
There’s a danger of reading too much into brief comments made at a technology conference, but something Spotify’s chief premium business officer Alex Norström said at Fortune’s Brainstorm Tech event yesterday is noteworthy. “For an artist like Fletcher there’s huge potential in looking at things that are beyond just ad sales and subscriptions, which is our business model of today,” he said. “You can add stuff on top like micro-payments, a la carte, prepaid plans for different contexts… The revenue infrastructure will then create lots of opportunity for you to innovate with the art.”
In February 2017, days before Metallica announced its WorldWired North American stadium tour, Live Nation president of U.S. concerts Bob Roux spoke by phone with a little-known wealth adviser turned event promoter who had been tasked by an associate of the band to sell 88,000 tickets directly on resale sites like StubHub, without giving fans a chance to buy them through normal channels at face value.
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