business
Belarus-born crypto platform halts operations for Russians in response to invasion of Ukraine
Crypto trading company Currency.com has announced it halted operations for clients based in Russia following the country’s “violence and disorder” imposed on the people of Ukraine. In a Tuesday announcement, Currency.com said Russian residents would no longer be able to access its services following the platform’s decision to stop Russia-based clients from opening new accounts. According to Currency.com’s website, the Gibraltar-based crypto trading platform has offices in Kyiv, London, and Vilnius, but was previously licensed and headquartered in Belarus. “We condemn the Russian aggression in the strongest possible terms,” said Vitalii Kedyk, head of strategy for the platform’s London operations and CEO of Currency.com’s Ukraine arm. “In these circumstances we can no longer continue to ser...
Spotify Podcast and Editorial Exec Courtney Holt Exits
Courtney Holt, Spotify’s head of talk partnerships, editorial and global markets, will transition to an advisory role next month as the audio giant prepares to divide his responsibilities across multiple executives, a person familiar with the matter told The Hollywood Reporter. Holt is expected to stay on as advisor for a year. In the meantime, his duties will be taken over by a team primarily led by Julie McNamara, Spotify’s head of U.S. studios and video, and Max Cutler, the head of new content initiatives and the founder of Parcast Studios. The transition has been underway for a few weeks, according to the person, and Spotify is not hiring a replacement for Holt’s position. “I want to give thanks to the incredible teams at @Spotify I was [lucky] enough to lead and interact with,” Holt t...
Animoca acquires Eden Games following last month’s F1 game disappointment
The digital entertainment and blockchain gaming firm acquired a 96% stake in Eden Games for $15.3 million. Animoca Brands could not renew a license for its Formula 1 game last month Animoca Brands is consistently building its REVV Motorsport ecosystem, and its latest play in this direction is the addition of French gaming production studio Eden Games. The deal was completed for a reported $15.3 million at the end of last week by giving the Hong-Kong based game software company 96% ownership in the company. As part of the terms of the acquisition, the gaming and venture capital firm will gain control over popular racing games, including the Test Drive collection, Gear.Club Unlimited. Animoca intends to use the Eden Games to create new and work on existing blockchain-based rac...
Coinbase to bring BAYC NFTs to the big screens via a short film trilogy
The Degen Trilogy is a three-film trilogy set to air during NFT.NYC this June There are also plans for a series based on Mutant Ape Yacht Club NFTs Crypto exchange Coinbase has announced that it is collaborating with Bored Ape Yacht Club (BAYC) to create a short animated film based on its NFT characters. Coinbase revealed the news via a tweet shared yesterday, alongside a link leading to the trilogy’s website, plastered with the inscriptions’ Something is Coming.’ Titled The Degen Trilogy, the animated film will be produced by a Hollywood director, with the series set to make its silver screen debut at the NFT.NYC event planned for June 20 – 23. BAYC owners who wish that their NFT characters take part in the film can forward their submissions for selection by the director. Community input ...
Sony Music Publishing Commits $100,000 to Songwriters Org The 100 Percenters
Sony Music Publishing is donating $100,000 to The 100 Percenters, a 250-member organization that advocates for music creatives with a focus on BIPOC and marginalized songwriters, composers and producers, it was announced Tuesday (April 12). The money will help provide financial relief through the organization’s Songwriter Stimulus Program and its Emergency Fund, both slated to launch later this year, as well as other efforts. “It’s an honor to have the support of [Sony Music Publishing chairman and CEO] Jon Platt,” said 100 Percenters founder and executive director Tiffany Red. “He heard us and took action in a way that I could never have imagined. This is just the beginning.” The relationship between SMP and The 100 Percenters — which recently sponsored a rally in front of Spotify’s forme...
Latin Music US Recorded Revenue Hits Record $886M in 2021: RIAA
Latin music continued its relentless expansion path in the U.S. last year, with recorded revenues reaching $886 million, according to a year-end report released by the RIAA Tuesday (April 12). That’s the highest figure ever for Latin music before adjusting for inflation and marks overall revenue growth of 35% compared to 2020 — far outpacing the 23% growth rate seen in the overall U.S. music market, as previously reported by the RIAA. “With growth of 35% – far surpassing the overall growth rate for recorded music revenues – Latin music is connecting with fans in a historic way,” said RIAA COO Michèle Ballantyne in a statement included in the report. The 2021 numbers mark the sixth consecutive year of double-digit growth in revenue for Latin music, which is defined as music recorded predom...
Sony Invests $1 Billion USD In Epic Games
Sony has just invested $1 billion USD in a new round of funding for Fortnite and Unreal Engine creator Epic Games. The Japanese tech and gaming giant is joined by LEGO Group owner KIRKBI, who has also injected $1 billion USD to bring the total up to $2 billion USD for the game developer. The announcement also comes shortly after LEGO announced its collaboration with Epic to create a kid-friendly metaverse based around the massively popular toy franchise. Despite the new investments, Epic will continue under its current CEO and found Tim Sweeney. “As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time” Sony’s CEO, president and chairman Kenichiro Yoshida said in a s...
Distribution, Marketing Company Intercept Music Launches With Method Man’s Support
Intercept Music, a global music marketing and distribution company that describes itself as a revolutionary technology platform, launched an expanded suite of services Tuesday (April 12). Founded by music and tech industry veterans, with hip-hop icon Method Man as a stakeholder, Intercept also claims partnerships with INgrooves, AMPED Distribution, What’s In Store Music, Rocket Songs and Nerve, a banking app for music creators — all of which fuel Intercept’s capabilities and services to its artist and label clients. Targeting indie labels and artists who own their recorded masters, whether they be established or DIY acts, Intercept says it provides a suite of tools that allow rights owners to monetize and market their music. The company charges a fee for clients while promising monthly rev...
IMPALA Launches First-Ever Carbon Calculator for Indie Music Sector
IMPALA, the association for independent music companies in Europe, has teamed with Julie’s Bicycle — an organization that mobilizes the arts to take action on the climate crisis — to launch the first bespoke carbon calculator for the independent music sector. Announced on Tuesday (April 12), the new carbon calculator will help IMPALA members accurately measure their ecological impact and achieve their climate goals. The calculator’s technology is based on Creative Green Tools, developed by Julie’s Bicycle and designed to meet the needs of independent record companies. The calculator is also equipped with a customized layout and help desk support to facilitate carbon accounting. IMPALA members can access the calculator online and also register to join an informative webinar, set for Ap...
Audacy Plans Nashville Presence With Upcoming Studio Space
Audacy is increasing its commitment to Nashville by opening a content studio in Music City, marking the Philadelphia-based radio and podcasting company’s first physical presence in town. To be located at 100 Broadway, in the three-story brick building in front of the Hard Rock Cafe (which the Hard Rock also owns), the roughly 800 square-foot studio should open by November’s CMA Awards, and further cements Audacy’s partnership with Hard Rock International. The second-floor space, which also contains an area for performances, will serve as the home for Audacy’s nationally syndicated country music radio show Katie & Company, hosted by Katie Neal, as well as other Audacy events (though larger events will be held in the Cafe’s own performance space). “I’m thrilled that we have a space in th...
Sony Invests $1B in Bandcamp and ‘Fortnite’ Owner Epic Games
Epic Games, the publisher of the popular video game Fortnite and creator of the Unreal Engine graphics software that is popular with Hollywood, has raised $2 billion in a new fundraising round from Sony Group Corp. and KIRKBI, the owner of the Lego toy and entertainment brand. Epic says it will use the cash infusion to work with its investors and “create new social entertainment exploring the connection between digital and physical worlds.” Yes, it’s about the metaverse. Sony and KIRKBI will each contribute $1 billion in the round, which values Epic at $31.5 billion. Epic last raised cash in May of last year at a $28.7 billion valuation. Sony was also part of that round. Epic founder and CEO Tim Sweeney remains the controlling shareholder of the company. “This investment will acc...
Weekly Report: Robinhood wallet goes live, Binance has both feet in Dubai and more
Here are the top headlines that you might have missed from the last week throughout to the weekend: Block, Blockstream and Tesla collaborate to achieve scaled Bitcoin mining using entirely renewable energy Abu Dhabi grants Binance in principal approval as a digital assets broker-dealer Robinhood’s crypto wallet is live but does not support NFTs and some cryptocurrencies, including Solana and Tether Pether Thiel terms Buffet, Dimon, and Fink as members of the “finance gerontocracy” holding back Bitcoin Coinbase has halted deposits via India’s UPI payment instrument Blockstream and Block launch a joint solar-powered Bitcoin mining initiative in Texas Blockstream co-founder Adam Beck on Friday announced during the Bitcoin 2022 Conference in Miami that his firm was launching a collaborative ve...
