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MAY 31, 2016

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Spotify Lost Nearly $200 Million In 2015

By Carver Low

Spotify's revenues are up, but their profits are still non-existent.

The heated battle between music streaming services continues to attract attention, as fans wonder if their platform of choice will end up winning out. No one wants to be the guy who sunk hundreds of dollars into a HD-DVD or Betamax player, only to have rendered useless. Spotify is currently the top dog (at least in terms of total users), but they are reportedly still posting losses. The Europe-based streaming service lost roughly $192 million in 2015.

Thanks to a report from the Wall Street Journal, we've learned that Spotify had a very strong overall 2015. Their total revenue was up by 81%, making for an end-of-year gross of around $2.17 billion. However, the service also increased their royalty payments to artists and their labels, which offset the increase in revenue. However, with over 30 million paying subscribers and many, many more free users, the site has a massive user base at its disposal. The question is, can they turn a profit?

With Spotify introducing video content, we’ll see if 2016 makes the battle between Apple Music, Spotify and Tidal (mostly Apple Music and Spotify though) any clearer. Apple has the upper hand with their already successful consumer electronics business, but Spotify is entrenched and their investors are not shying away from spending money.
(Read More)

Deadmau5’s SoundCloud Has Been Hacked by Security Group

By Jordan Munn

Deadmau5 is no stranger to a bit of old-fashioned Internet trolling, but today, he became the one in the line of fire online. Early this afternoon, a mysterious remix of Ariana Grande’s “One Last Time” appeared on his SoundCloud with the title “Hacked By OurMine Team” and altered lyrics in relation to their infiltration. The self-professed “security group” also left a personal message for Deadmau5: “Hey Joel, it’s OurMine Team, we are just testing your security, please DM us for contact.” Although we’ve seen some seriously destructive instances of hacking in the past, this seems to be a harmless grab for publicity on OurMine’s part. (Read More)

Lil Yachty is the Face of PUMA & Pink Dolphin’s New Capsule Collection

By HP Cheung

PUMA and Pink Dolphin have recruited Lil Yachty to be the face of their upcoming summer apparel and footwear capsule collection. It's aesthetics aptly represent that of the deep sea, and can be found across jerseys, tees, shorts and PUMA's suede sneakers. The collection will arrive on May 21 via Pink Dolphin's online store and on May 27, it will drop via Footaction, DTLR and PUMA.com. (Read More)

A Danny Brown Documentary is Coming Soon

By Patrick Montes

At present time, Danny Brown is readying the follow-up to his stellar 2013 studio album Old. As he prepares to introduce that project sometime in the coming months, it looks like he'll be the star of his very own documentary. Entitled Live At The Majestic, the Andrew Cohn-directed Danny Brown documentary will focus on the period of time surrounding Detroit rapper's recent hometown show. The film will make its debut on May 24 at Brooklyn's House of Vans (Read More)

Lil Wayne Reportedly Has A New Reality Show Coming To VH1

By Kevin Goddard

According to YM's Stephanie Acevedo, Lil Wayne has a new reality show on the way.

It’s not Love & Hip-Hop, but it looks like Lil Wayne is taking to his talents to VH1. According to Young Money’s Stephanie Acevedo, the New Orleans legend is getting his own reality TV show.

Stephanie spilled the news Thursday on Snapchat, while she was at renown plastic surgeon Dr. Miami’s office. She states, “We just signed a contract with VH1, we are going to be doing a reality show that we are going to be shooting in July in L.A.”

The show will reportedly be called "Lil Wayne’s House," and feature other artists from YM as they collaborate & work together while living under the same roof as their "mentor" & boss. No other details are really known at the moment, but once we find out more we’ll be sure to let you know.

Who’ll be tuning in to watch Lil Wayne on VH1? (Read More)