Music Business News: Sweden

Krause joined Spotify in October 2017

Consumers who purchased the device “are left with nothing more than a paperweight that cost between $50 and $100"

Spotify has recently broken out streaming royalty data for a bunch of individual markets in Europe

Company reports to have distributed more than €1bn to rightsholders in a consecutive 12-month period for the first time

The company, which provides royalty-free sound and music to creators, was valued at $1.4 billion in 2021

The newly branded FKP Scorpio Entertainment will focus on exhibitions, family entertainment, comedy, spoken word, and special events

The move appears to be part of an effort to nudge more ad-supported users to switch to a paid subscription

The five biggest stories to hit our headlines over the past seven days…