Spotify reports record profits of over €1billion

Jem Aswad Executive Editor, Music Spotify was hit with a cease-and-desist letter from the National Music Publishers Assn. over its use of lyrics in its recently launched video function and podcasts, and its remix feature that enables users to speed up or otherwise edit songs to create derivative works.

Patrick Frater Asia Bureau Chief Tencent, the Chinese social media, gaming and streaming giant, enjoyed a 62% gain in profits, earned from a 6% revenue improvement in the first quarter of the year. Profits between January and March reached RMB42.6 billion ($5.92 billion). That figure also represented a 55% quarter on quarter gain.

“Community” movie will see the light of day.“It’s happening but I don’t know when. I swear, it’s happening,” Glover, 40, told Deadline last week.The actor, producer and rapper also promised that he’s not to blame for the film’s production taking longer than anticipated. “Everybody is hating on me on the internet and it’s not me!” he said.

Turns out King Charles III DID have a little wiggle room in his schedule!

Todd Spangler NY Digital Editor Julie McNamara, one of Spotify‘s top podcast content execs, is leaving the company, Variety has confirmed. McNamara, who joined the company in 2021, most recently served as VP and global head of podcast studios. She oversaw Spotify Studios, which consolidated the Parcast and Gimlet groups producing original podcasts, as well as licensed podcast deals with partners including Joe Rogan, Alex Cooper (“Call Her Daddy”) and Emma Chamberlain.

Warner Bros. Discovery will reportedly implement paid-sharing on Max as it gets stricter later this year about subscribers letting other people use their accounts.Bloomberg reported this week that Warner Bros.

“Verity,” Colleen Hoover‘s 2018 book that was self-published before becoming a smash-hit success, is now becoming a movie!

Katcy Stephan A film adaptation of author Colleen Hoover‘s bestselling romantic thriller “Verity” is in development at Amazon MGM Studios. Hillary Seitz (“The Unforgivable,” “Insomnia”) is currently writing the script. Eat the Cat’s Nick Antosca and Alex Hedlund will produce.

Mufasa, the prequel to 2019’s The Lion King, has been released, confirming that Beyoncé and Donald Glover will be back.The new Disney film, which was confirmed a few years ago following the success of the remake, tells the origin story of King Mufasa, and is directed by Moonlight‘s Barry Jenkins, while 2019 film scribe Jeff Nathanson returns as a screenwriter.“This story begins far beyond the mountains and the shadows, on the other side of the light,” Rafiki (John Kani) narrates in the clip, which showcases the photorealistic style used in the 2019 film.“A lion was born without a drop of nobility in his blood. A lion who would change our lives forever.

Taylor Swift has broken yet another record with her latest album The Tortured Poets Department.

Steph McGovern has confirmed she is returning to TV five months after her daytime chat show Steph’s Packed Lunch was axed by Channel 4. She recently posted a selfie to Instagram showing her in a car with her stylist on the way to her latest TV appearance.

Podcast giant Wondery has hired Spotify‘s Chris Baughen, as it launches the paid-for Wondery+ service in the UK.

Taylor Swift‘s latest LP The Tortured Poets Department hasn’t even been out for a full week and it’s broken several streaming records!

Chris Willman Senior Music Writer and Chief Music Critic Spotify announced Wednesday that Taylor Swift‘s “The Tortured Poets Department” has become the first album in the app’s history to pick up a billion streams in a single week. And it did that with still a couple of days left to go in the seven-day period in question. The previous high-water mark for most album streams in a week belonged to Swift’s last all-new release, “Midnights,” in October 2022.

Todd Spangler NY Digital Editor Spotify reeled in fewer new users overall than it expected in the first quarter of 2024, but the audio-streaming giant touted “record strength” in profitability. Total monthly active users (free and paid) grew 19% year over year to 615 million, a gain of 13 million from the previous quarter — which missed its guidance by 3 million. Spotify said “moderated marketing activity” led to “more normalized growth” following 2023’s record performance (when it added 26 million new MAUs in Q1).

Jewish communities in Greater Manchester and across the world will be celebrating Passover next week. This year, the Jewish festival which marks the exodus of the Israelites from slavery in Egypt starts on the evening of Monday (April 22), lasting eight days in the UK.

The Tortured Poets Department is on track to becoming one of the most successful albums of all time and chairman Taylor Swift is breaking all kinds of records with her new music.

Taylor Swift‘s new album is breaking streaming records!

Chris Willman Senior Music Writer and Chief Music Critic Taylor Swift can’t quit breaking her own records. After Spotify revealed Friday that “The Tortured Poets Department” had become the first album in the DSP’s history to amass 200 million streams in a single day, the service updated that news early Saturday, to report that first-day streams actually surpassed 300 million, when all was said and done and counted.

Steven J. Horowitz Senior Music Writer Taylor Swift has made Spotify history with her new release “The Tortured Poets Department,” becoming the first album to exceed 200 million streams in a single day, Variety can exclusively reveal. The feat comes less than 24 hours after its release, signaling that the numbers could stretch even higher once the final figures are tallied.