Music Business News: Germany

Sony Music GSA to move HQ from Munich to Berlin in 2020

Company has signed a long-term lease for a 90,000 square foot building

Germany’s streaming numbers increased by 33.5% in 2018 – but total recorded music revenues fell 0.4%

Audio streaming now accounts for 46.4% of the market

SoundCloud is now a distributor: Platform launches tool for users to upload music to Spotify, Apple Music etc.

Amazon Music, Apple Music, Instagram, Spotify, Tencent, YouTube Music and more all covered by new tool

SoundCloud revenues grew 80% to top $100m in 2017, as losses narrowed 27%

Subscription revenues nearly doubled in the year, up to $82m

SoundCloud’s Chief Product Officer Eric Wahlforss has resigned

Wahlforss will take up an advisory role on March 1

Live music promoter DEAG fully acquires MyTicket

DEAG acquired the remaining 24.9% of shares from Axel Springer SE

Germany streaming numbers up by over 40% in 2018, as CD sales drop 23%

Streaming numbers hit a new all time record high of 79.5 billion

BMG ups Patrick Joest to Executive Vice President, Global Partnerships & Synch

Joest was previously Global EVP, International Licensing & Marketing