Genies, the virtual avatar company that makes digital cartoon-style versions of celebrities, can now count Camila Cabello, Paris Hilton and Priyanka Chopra as its latest investors, the company tellsRolling Stone. The three women are part of Genies’ previously closed $65 million funding round led by venture capitalist Mary Meeker, and …
Read More »Universal Music's SPAC Deal Gives It Armor — and a Potential Weak Spot
The U.S. may be the biggest recorded music market on the planet — it generates 37 percent of the globe’s trade revenues, according to 2020 data from the International Federation of the Phonographic Industry — but its music business is curiously un-American. Whether due to historical precedent or recent deals, …
Read More »When Will Indie Venue Owners Get the Funding They Were Promised?
Sean Lynch is in limbo. Like thousands of other independent venue owners across the country, Lynch — who owns the Pub Station, a once-thriving concert hall in Billings, Montana — is depending on the money promised by the Shuttered Venue Operators Grant, a federal program passed last year to deliver …
Read More »Rapper and Entrepreneur Lil Yachty — Future 25
This story appears in Rolling Stone‘s 2021 Future of Music issue, a special project delving into the next era of the multibillion-dollar hitmaking business. Read the other stories here. Teenage Lil Yachty was already plotting an empire when his single “Minnesota” went viral in 2016. Today, at 23, he’s an …
Read More »Coachella and Stagecoach Reportedly to Move to 2022
After a year-long series of postponements, Coachella and Stagecoach are moving again, to April 2022, a source close to the situation tells Rolling Stone. Variety was the first to report the change Wednesday night, andRolling Stonehas confirmed the move. Coachella was originally due to take place in spring 2020, but …
Read More »Universal Music and Triller Are Duking It Out Over a Failed Deal
When Donald Trump revealed his desire to ban TikTok in August of last year, his words sent the app’s creators and influencers into a frenzy, and many began to eye Triller, a similar app designed for sharing short-form video clips. At the time, Triller claimed it had 250 million global …
Read More »A Field Guide to Music's Potential Crypto Boom
In a huge labyrinthine ecosystem of labels, publishers, distributors, and royalty collectors, the idea of artists getting paid quickly may sound like a revolutionary concept. What if it wasn’t? What if the music industry‘s hundreds of thousands of artists — who are especially cash-strapped when they can’t tour, like right …
Read More »SoundCloud Will Host a Gaming Tournament Inside Fortnite
Turns out the cloud has room for more than just sound. On Wednesday, music streaming platform SoundCloud announced that it is partnering with Twitch — the gamer-centric livestreaming service — to launch SoundCloud Player One, a three-hour gaming tournament that will start on February 18th at 8 p.m. Eastern Time. …
Read More »Bandcamp Will Make Vinyl Records For You
Bandcamp is gearing up for a wider release of its vinyl pressing service — giving indie artists more access to one of the few growing physical music formats in a digital-heavy marketplace. Bandcamp launched its pilot program for the pressing service last year, and on Thursday, the company opened up …
Read More »What Does the Guitar Center Bankruptcy Mean?
America’s largest retailer of musical instruments and gear filed for Chapter 11 bankruptcy over the weekend, in a plan to drastically reduce its current debt of approximately $1.3 billion by $800 million, Reuters reported. That doesn’t mean the company is shutting down — a common misconception when people hear the …
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