Image: Epic Games
As any millennial who can still sing the Madden ‘04 soundtrack knows, videogames and music have long gone hand in hand. And over the past few years, musical artists have been increasingly signing deals to debut new songs in videogames, in some cases weeks before those tracks are released on streaming services like Apple Music or Spotify.
Behind the trend: Record execs have long operated under the assumption that most people’s musical tastes are solidified during their teenage years – and videogames are popular with young folks. About three-quarters of Americans under the age of 18 play video games, per a 2023 report from the Entertainment Software Association.
👀 Looking ahead… Growth from music streaming services like Spotify is slowing. And industry leaders are betting the music industry’s next wave of growth comes from licensing music in three key areas: social media, fitness apps (ex: Peloton), and videogames.
🪱🏜️ This weekend, US moviegoers flocked to the box office like sandworms to thumpers. Dune: Part Two pulled in an expectations-exceeding $81.5 million in its domestic debut, good for the biggest opening weekend of the year.
🚫🎶 Universal Music Group, the world's largest music company, exercised its so-called “nuclear option” with TikTok this week, expanding the list of songs that can’t legally be used on the social media platform.
🎶🤑 Universal Music Group is paying $240M for a minority stake in Chord Music Partners, a joint venture that owns 60K+ songs from The Weeknd, John Legend, Lorde, Kid Cudi, & more.
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