Music Business News: Europe

SoundCloud’s revenues grew 19% YoY to $273m in 2021. Now it’s predicting that ‘fandom will be the next big format for the music business’.

2021 was the first year that SoundCloud's annual revenues topped a quarter of a billion dollars

Web3 music platform Public Pressure raises $6m led by blockchain-focused investor Scytale

Funding startup's first music and gaming NFT project sale, which generated $2 million

Music now has over 616 million paying streaming subscribers globally

Research firm estimates that Tencent Music Entertainment (TME) overtook Amazon Music to become the third largest DSP globally at the end of 2021

Vevo DSCVR Artists To Watch 2023: Ethel Cain, Nonso Amadi, Armani White, Pajel,

Four more Artists To Watch are inducted into VEVO's class of 2023

Pierrot Raschdorff appointed Senior Director of Global Diversity, Equity & Inclusion at BMG

Exec joins from Penguin Random House in Germany

Connect Music Group expands operations in UK via acquisition of artist and label services firm MTX

MTX was founded in 2018 by Mike Bartlett and Mike Mills

Vevo DSCVR Artists To Watch 2023: K-Trap, Lauren Spencer Smith, Ramón Vega, flowerovlove

Four more from VEVO's global lists of artists tipped to make their breakthrough in 2023

Hipgnosis Songs Fund revenues climb 7.5% YoY, streaming revenues up 15.8% YoY, in most recent half-year period

Positive signs for Merck Mercuriadis-led company in latest set of public figures