Despite nine years of music industry growth thanks to streaming, companies like Spotify and UMG are tightening payouts or laying off employees
Market Cap Tops $53 Billion Stuart Dredge / Music Ally : UMG confirms that it will be laying off some staff in 2024 X: Lucas Shaw / @lucas_shaw : Media & technology companies have cut more than 70,000 jobs in the last year-plus. https://www.bloomberg.com/... Lucas Shaw / @lucas_shaw : English-language music is losing market share worldwide, including in the US. Hail the rise of music in Spanish and several Indian languages. https://www.bloomberg.com/... Lucas Shaw / @lucas_shaw : The music industry is stable and growing. So why is the biggest record label in the world going to fire hundreds of people? I explain in this week's Screentime: https://www.bloomberg.com/... See also Mediagazer