Spotify added another 6 million subscribers in the first quarter. Still they are lowering expectations as ad sales got hit by the fallout of the pandemic.
Spotify said streaming of its music and podcasts is on the rebound and in many markets has already “meaningfully recovered.”
Spotify’s total subscriber base, which includes paid subscribers and subscribers that opt for Spotify’s free service with ads, reached 286 million, at the high end of the company’s expectations.
“Despite the global uncertainty around COVID-19 in Q1, our business met or exceeded our forecast for all major metrics,” the company said in it letter to shareholders. “For Q2 and the remainder of the year, our outlook for most of our key performance indicators has remained unchanged with the exception of revenue where a slowdown in advertising and significant changes in currency rates are having an impact.”
Up and coming singer-songwriter Mavenne has released an EP “Nice To Meet You“. It’s a collection of strong songs akin to BØRNS, Skylar Grey, Birdy, and Lana Del Rey. My favorites are Bored Games and Faraway Far. Although she was a winner in the California Music Video Awards, Mavenne has been flying under the radar but I think this new EP will find a way on plenty of playlists, like our playlist. Give it a stream on Indie Invaders.
Brand new artist Floss releases her debut single Kings & Queens. It’s a really solid track, very cinematic, and soundtrack ready. BBC introducing jumped on board and played the track. The UK alt singer-songwriter is influenced by the likes of Lana Del Rey and Florence and the Machine. Check out the track on the Indie Invaders Playlist.
I’ll be honest, I’m not a big fan of indie folk, but I got quickly hooked on the track Some Of Your Songs by David Ost. He’s a singer-songwriter that bounced back and forth between Germany and Scotland, now residing in Hamburg. His goal was to create an original soundtrack for an off-pop riot you won’t be able to get out of your head any time soon. I must say mission accomplished, and pretty darn good for a second single.
If it’s not revisiting old drama with Kardashians then Taylor Swift is attacking Bieber manager Scooter Braun for buying her masters. She had a chance to buy her masters, but shot down the offer. Her former label Big Machine has released a collection of previously released live recordings. This is typical in business, but Taylor doesn’t like it. Why? I don’t know. She gets paid and will cash the check.
She accused Scooter Braun of “shameless greed in the time of coronavirus”. She also attacked the financial backers 23 Capital including the Soros family and the Carlyle Group.
I’ll be honest, it’s hard to have sympathy for showbiz people who want to gyp the people who gambled on them when they were nobodies. Especially showbiz people worth hundreds of millions of dollars. You want to keep all your rights? Bankroll your own expenses from the get-go, instead of chasing investor money.