Music Business News: North America

Hip hop label Payday Records relaunched by Patrick Moxey

Label to be distributed by Sony in the US and UK, with Moxey serving as President

Now Facebook signs multi-year licensing deal with Sony/ATV

Martin Bandier calls deal "recognizes the value that music brings to their service"

Kobalt appoints Lonny Olinick as CEO of recorded music

Exec will head up resurgent AWAL platform as well as other recordings projects

Spotify’s Chief Content Officer Stefan Blom exits company

“We are grateful for Stefan’s many contributions to the company over the years and we wish him the very best”

Dubset inks deal with TIDAL to distribute remixes on streaming platform

Platform now distributes to Spotify, Apple Music and TIDAL

L.A Reid has raised $75m for new label venture, say sources

Exec is understood to have moved into new offices this week

Spotify’s paying subscriber count soars above 70m

Firm has managed to add 20m subs in just 10 months to its service

There were 4 times as many paid on-demand audio streams as ‘free’ ones in the US last year

Streams happening on subscription tiers rose 57.5% to hit 301.3bn, according to BuzzAngle report