It has been a few years since I was able to attend the Founder Camp, an annual celebration and gathering of founders backed by True Ventures. The global pandemic and travel restrictions made it impossible for us to host the event, but we found a way to gather outdoors and enjoy each other this year. While we call all work from remote corners of the world, there is no joy more than being in each other’s presence. IRL, rocks!
I didn’t do any work yesterday other than attending various conversations. The energy from the event kept me up late, and I spent a lot of time on my iPad, reading and catching up on my massive “read it later” list. In doing so, I found some interesting nuggets that caught my eye.
- Spotify launched the Car Thing. It likely will try and hasten what insiders already know: radio listening is going down in the cars. New technologies, bigger screens, and transition to EVs mean that the “radio” won’t be at the center of the entertainment experience — our phones are.
- Remember streaming was supposed to kill the music business? Quite the opposite is true, actually. In 2021, the global revenues were $25.9 billion, up by $4 billion over 2020, according to IFPI’s Global Music Report. Streaming accounted for 65.0% of recorded music revenues, up from a 61.9% share in 2020. Revenues from ad-funded streaming services (including video services) matched physical sales in 2021. There are 523 million paid (Read more...)