*By Carlo Versano*
Genius, the online encyclopedia for lyrics, has struck a deal with Apple that will allow Apple Music subscribers to listen to a song and follow its lyrics side-by-side, all from the Genius website.
"This is a really big moment for Genius ー and for Apple too, I think," Genius chief strategist Ben Gross said Friday in an interview on Cheddar. He called the integration a "dream experience" for music lovers and a "pure value add" for Apple Music users.
For Apple Music, the partnership exposes the service to a new user base.
Gross cited Comscore data to show that three-quarters of users who log on to Genius don't already pay for a streaming service.
The deal is the latest example of how Apple ($AAPL) has made a priority of its music platform ー along with other services that guarantee revenue from monthly subscriptions. Services ー which include Apple Music, the App Store, and iCloud ー generated $9.55 billion in sales in its latest quarter, up more than 30 percent from the year before and nearly 20 percent of total revenue.
The company's partnership with the iPhone maker could also create new revenue stream for songwriters and artists. While Gross praised the "Music Modernization Act," signed by President Trump on Thursday at the White House, where he was flanked by Kid Rock and Kanye West, headline performers are only one part of the creative music complex.
Monetization for songwriters, even if they aren't performers, is equally important, Gross said. So, like Apple Music, Spotify ($SPOT), and other music platforms, Genius ー which has over 100 million unique visitors a month on its website and native apps, plus growing audiences on social, according to Gross ー has deals to pay out artists whose lyrics are read on its service.
"When we make money, the songwriters and artists who create the content that we're trying to do cool things with also make money," Gross said.
Genius is replacing a patchwork online database of lyrics that has "been sort of garbage."
"Lyrics are an incredibly important part of music culture," Gross said.
For full interview [click here](https://cheddar.com/videos/apple-music-gets-wiser-with-music-encyclopedia-genius).
President Joe Biden is expected to visit GM's 'Factory Zero' plant in Detroit, where mass production of its electric vehicle fleet will get underway. Biden is likely to tout his recently passed $1.2 trillion infrastructure plan, which allocates $7.5 billion toward EV infrastructure.
No one is ever fully "ready" for the future. However, the past two years have clearly shown us that some businesses can be better prepared for the future than others. Shelly Kramer, Founding Partner & Lead Analyst of Futurum Research, joins Cheddar News to discuss how businesses of all sizes can stay agile enough to adapt to whatever the future may bring.
Jill is joined by “Friend of the Pod” Mosheh Oinounou to talk booster shots, and whether “fully vaccinated” will eventually mean three shots, not two. Plus, the latest on the Kyle Rittenhouse trial. And the research is in: we know now the perfect way to hug. Also, Jill and Mosheh debate whether Airpods are passé.
Disney has movies in theaters and families in theme parks again, and as it prepares to report fourth quarter earnings after the bell, investors are looking at a number of key factors, which may drive company revenue after a tough few quarters as a result of the pandemic. Jim Anderson, CEO of SocialFlow, explains why streaming may be the key to a strong quarter for Disney.
The Fifth Circuit Court of Appeals court temporarily held up President Biden's vaccine mandate for workplaces with more than 100 employees as the various lawsuits challenging it are combined. Marjorie Mesidor, a partner at the law firm Phillips & Associates, PLLC, joined Cheddar to break down the arguments in play. "They [the Biden Administration] say we have the authority to do this under the broad powers that are given under OSHA," she said. "What the Republic side then is saying, no, this is overbroad."
The popular online gaming platform for kids, Roblox, is reportedly expanding its offerings into the educational space. Ayal Shmilovich, managing partner at Gerber Kawasaki Wealth Investment Management, joined Cheddar to provide some insight into the report from the Wall Street Journal and how Roblox plans to incorporate the metaverse concept into schools. "I definitely think it helps them expand their market to a much broader audience," Shmilovich added. He also noted that Minecraft has 35 million users on its educational platform and was even more optimistic about Roblox's prospects.
