5 things you need to know in the entertainment business: Spotify shares and more

BMG launches new royalties app

BMG has launched a new music royalty mobile app and has made it available as an iOS and Android app for the first time. The app, named MyBMG, was engineered by BMG’s technology team working alongside a team of songwriters. It is based on the MyBMG 3.0 web portal that the company launched earlier this year. The app offers users features such as current royalty information, intuitive analytics, and publishing data that provides clients with advanced insights into their earnings.

PRS For Music sponsoring annual Women in Music Awards

On Friday, November 10, Music Week will be hosting the Women In Music Awards at The Brewery in London. The award show honors the most important and inspirational women throughout the music industry, while celebrating diversity in the music industry with some of the most influential women in the business. PRS For Music will be sponsoring the event as an official event partner. In particular, PRS For Music is the UK’s leading collection society, and works to represent songwriters composers, and music publishers while collecting royalties on their behalf whenever their music is played.

PRS for Music will sponsor the Music Awards on November. (Source)

Robert Plant announces new album and tour

Former Led Zeppelin frontman Robert Plant has announced his 11th solo album, Carry Fire. The album will be his first since 2013 and is scheduled to be released on October 13. The album was produced by Top Cat Studio in Wiltshire. Plant also announced the details of a 15-date United Kingdom and Ireland tour, which will begin this November with his first show at Plymouth Pavilions. The tour will conclude with a show on December 12 at Birmingham’s Symphony Hall.

Goldman Sachs sells Spotify shares

Ahead of the company’s upcoming direct listing on the New York Stock Exchange, hedge fund Goldman Sachs has sold over $75 million worth of shares in Spotify over the past few weeks. This sale represents less than half of the fund’s total shareholding in the platform. It has been reported that the sale was triggered by demand from other shareholders. Not yet trading as a public company, Spotify stock is currently bought and sold on a private market. The music streaming service is currently valued at approximately $13 billion.

Goldman Sachs has sold its Spotify shares. (Source)

Miley Cyrus releases single from upcoming album

Via Sony Music, Miley Cyrus has released a new single titled “Younger Now.” The song is the title track from her upcoming album, which will be released on September 29. The song’s music video, released on the 40th anniversary of Elvis’ death, pays homage to the late rock and roll legend. Cyrus will be performing the song at the MTV Video Music Awards on August 27, where her single Malibu is nominated for Best Pop Video. The song is available now on all major streaming platforms.

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DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.