Spotify's acquisition last week of the music licensing start-up Loudr helps the streaming service to better manage its costs so that it can focus on attracting new subscribers for its premium service, said a digital media investment banker who helped Loudr close the deal.
Loudr's services are intended to make it easier for content creators and digital music services to identify, track, and pay royalties to music publishers more efficiently. Royalties are, of course, part of Spotify's recurring costs.
"It makes sense for Spotify, which is the largest music streaming service in terms of paid users, to take control of this important piece," said Sun Jen Yung, a partner and the head of digital media at Nfluence Partners.
Loudr makes the complex process of paying royalties easier through automation, she said Wednesday in an interview on Cheddar.
This week, Spotify announced it will update its mobile app soon in an effort to make it easier to use.
"To the extent that they can attract more users, that can hopefully help them upgrade to a premium service," said Yung.
For full interview, [click here](https://cheddar.com/videos/inside-spotifys-acquisition-of-loudr).
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
Allies of Florida Gov. Ron DeSantis and Disney have reached a settlement agreement in a state court fight over how Walt Disney World is developed in the future.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
Candace Mitchell Harris discusses her path from computer scientist to founder of beauty tech tool MYAVANA – and how it uses A.I. to analyze each person’s unique haircare needs.
