Tech is Overtaking the Music Industry; IDAGIO Launches in North America

The satellite radio company’s purchase of the online streaming service could further loosen the grip of record labels as music industry gatekeepers

​IDAGIO is now available in North America. To support the launch and further internationalisation, the Berlin based streaming service successfully secured an internal funding round of EUR 10 million with existing investors.

At the tail-end of 2017, Apple announced that it was buying music discovery service Shazam for $400 million.

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Major recording companies have been alarmed since June when it was reported that Spotify overseas is allegedly offering advances of up to several hundred thousand dollars, and appealing business terms, to independent artists in hopes of convincing them to license their music directly.

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Half the users of Spotify's free ad supported tier convert to Premium paid users, if they stay engaged, Barry McCarthy, Spotify Chief Financial Officer said in an interview at the Goldman Sachs 27th Annual Communacopia Conference.