According to the 2023 figures, 1,250 artists will receive more than $1 million in royalties; 11,600 will receive more than $100,000 and 66,000 will receive more than $10,000 – a number that has nearly tripled since 2017.

Among the artists’ songs that are most listened to on Spotify, it’s not just the English language that dominates. Songs in Spanish, German, Portuguese, French and Korean were among those whose works stood out.

According to Charlie Hellman, vice president and global head of music products at Spotify, independent artists and independent record labels received $4.5 billion, which is half of all royalties paid by the music streaming platform.

In December, Spotify announced it was laying off 17% of its global staff for the third time in 2023 in a bid to cut costs while focusing on making a profit.

“Songs that generate less than a thousand streams in a year will generate just a few cents in royalties,” Hellman explains.

Spotify and most other streaming services pay royalties to the rights holders of the music on their platform, a number that is determined by “streamshare.” This is calculated by adding up the number of times music owned or controlled by a rights holder has been streamed and dividing by the total number of streams in that market.

Accordingly, larger rights holders have a larger percentage of market share. A listener streaming an artist 25% of the time does not mean that that artist will receive 25% of the listener’s subscription fee.

Spotify says that by 2024, it will no longer pay for songs with fewer than 1,000 streams per year.

A few weeks before the start of Black History Month, Apple released a new Black Unity Collection 2024 to support organizations in the United States that advocate for the rights of black people and that support them pro bono.

With the Black Unity Collection 2024, the tech giant is celebrating the strength and resilience of black people. Black Unity introduces new means of expression inspired by the incredible spirit and beauty of the black community.

Black History

The first of February marks the beginning of Black History Month, which honors the great contributions of the black community to U.S. history. During the month of February, America celebrates the achievements of African American men and women.

 

Black history brings with it much pain, injustice and cruelty. Years in which black people were slaves, humiliated and subjected to rampant harassment. All those wonderful men, women and children who were blamed and fingered simply because of the small amount or lack of melanin…

The symbols

The blossoming flowers and bright colors in Apple’s collection represent Pan-Africanism and symbolize generations working together to tackle injustice and break down systemic barriers. The Apple Watch Unity Bloom watch face features a beautiful floral design that signifies an ongoing commitment to striving for a more just world.

The surprises don’t end there. The watch has a feature that is triggered when you lift the wrist – the flowers begin to bloom and fill with vibrant hues.

iPhone and iPad owners can share their empathy and support with the new Unity Bloom wallpaper for their Lock Screen, which features an outline of flowers that fill with color when the display is turned on.

Beyond the visible

Many traditions, endless talent, incredibly beautiful art, strength, spirit, energy… Words are not enough to describe how incredibly talented and beautiful black people are! And with the talent and creativity Apple has shown us in this new collection, they have proven once again why they are among the best.

And if you’re on a “starting a business” kick, today we’ve got the perfect read for you that wouldn’t start a business for you, but would point you in the right direction that’s key to the success you want to achieve.

Today, we’ll present you with 7 recommendations, according to Startups Magazine, that are derived from observing the strategies used by successful entrepreneurs and identifying the challenges that hinder those who don’t achieve their goals.

7 Things You Must Do Before Starting a Business

Develop Your Product
While it may appear self-evident, this pivotal step stands as one of the foremost determinants of success or failure for your tech startup. Many prospective tech entrepreneurs often leap into the realms of marketing and resource procurement without giving due attention to constructing a robust product foundation. For a tech startup, allocating at least 30 percent of your resources to building an exceptional product is indispensable for ensuring your business’s long-term survival. Your product must not only distinguish itself with uniqueness but also deliver substantial value. This strategic focus will position you ahead of your competitors, thus mitigating the need for excessive strain on other facets like marketing.

Maintain Clarity of Purpose
Launching a tech company necessitates not only strategic thinking but also unwavering commitment to both your immediate and long-term objectives. Given the dynamic nature of the tech industry, changes can materialize unexpectedly and at an accelerated pace. The rapid evolution of technology demands vigilance in staying abreast of developments. Notably, a tech enterprise of merit should embody dual facets: products and services. To navigate this complexity, it is prudent to concentrate your vision on one of these aspects. By making this distinction crystal clear, you will gain a more refined perspective for all forthcoming decisions, fostering greater clarity in your entrepreneurial journey.

Take the Initiative
The tech landscape evolves incessantly, often causing potential tech entrepreneurs to grapple with uncertainty regarding the ideal moment to commence their ventures. They frequently anticipate an elusive “perfect” moment, which may never actually materialize. While the desire to amass all pertinent information before launching your tech enterprise is understandable, it may not always be practical until you immerse yourself in the field. Only by diving in can you grasp the dynamics from an insider’s perspective. So long as you possess a business concept, take the leap and start. You’ll be astounded by the wealth of knowledge you’ll acquire as you journey forward.

Embrace Failure as a Catalyst for Growth
While failure is typically seen as unfavorable in the business realm, it can paradoxically become a wellspring of motivation, knowledge, and innovation. Failure signifies the chance to institute improvements. In the tech sector, certainty is often elusive until you undertake experiments. Embrace your mistakes, gather the fragments, and work earnestly toward continual improvement.

Stay True to Your Business Strategy
During the startup phase, it’s common to encounter customers who may attempt to sway you in favor of their preferences. While it can be tempting to cater to their demands to appease their ego, this can lead to a dilution of your business’s core direction. Even in the early stages, it’s essential to adhere to your fundamental principles. Many tech startups entertain the idea of tailoring their offerings to meet individual customer needs in the belief that it will secure their loyalty. However, this approach might win over specific customers, but it risks alienating others in your potential client base. Constantly altering your business strategy to accommodate each customer is not a sustainable approach.

TheEssential Resources are Crucial for Tech Business Success
In the realm of technology, having the appropriate resources, whether in terms of equipment or human capital, is paramount for the seamless operation of any tech business. Depending on the nature of your tech enterprise, it is prudent to invest in state-of-the-art and efficient equipment to facilitate various operational aspects of your venture.

The significance of human resources cannot be overstated in the tech industry. It is imperative to recruit professionals well-versed in your specific field, individuals who not only comprehend the intricacies of your company but also share your overarching vision. In alignment with this, the establishment of a robust customer success team is also essential to ensure that customers consistently receive substantial value for their investments.

Forge Connections with Fellow Tech Enterprises for Mutual Growth
In the world of technology, the pursuit of knowledge is an ongoing journey. No one possesses a monopoly on wisdom, and there will invariably be individuals with insights beyond your own. Initiating connections with fellow technology experts and those who have traversed the business landscape before you can yield invaluable insights derived from their tech industry experience.

Be vigilant for partnership opportunities, as these alliances are instrumental in keeping pace with the ever-evolving business landscape. The tech sector is perpetually in flux, and those who adapt to new developments will stand resilient in the face of change.

While commencing a tech business may be a straightforward endeavor, the strategies employed throughout the journey hold the key to its success. With a resolute focus, unwavering vision, and fruitful collaborations, your tech enterprise can chart a path towards prosperity in this dynamic industry.

Snap reports that it has reached a new milestone as Snapchat now has more than 750 million monthly active users. The company also noted recently that 375 million users log into the app every day.

While that’s a far cry from Facebook’s 2.96 billion monthly and 2 billion daily active users, Snapchat’s audience numbers are trending upward. During an investor day event, Snap said it sees “a path for Snapchat to reach over 1 billion people in the next two to three years,” Engadget wrote on the topic.

Breaking those numbers down a bit further, the majority of Snapchat’s audience is outside of North America, where it currently has more than 150 million monthly active users.

Snap CEO Evan Spiegel said the app reaches more than three-quarters of people between the ages of 13 and 34 in over 20 countries, and users post over 5 billion photos every day. Meanwhile, subscription service Snapchat+ has more than 2.5 million members just over seven months after its launch. More than 300 million people also use Snap’s card every month.

These are much-needed signs of positivity for Snap after a tough 2022. The company’s stock plunged more than 80% between late 2021 and the middle of last year, when it laid off about 1,300 employees. It also dropped its Pixy selfie drone after four months.

For an average price of 10,000 MANA tokens (or $7,000) per day, anyone can rent a 27.87-acre plot in Decentraland, a 3D virtual world that runs on the Ethereum blockchain. Renting the plot will give the tenant the right to build anything they want – a store, an event space, an art installation, or anything else to welcome friendly passersby. But the real winner would be their landlord, whose name is Beatrix#7239;s virtual pockets bulge with money.

Not every property is as expensive as Parcel 27.87, which sits at the center of the world map, near where people first settled in Decentraland. No one has yet taken up the offer to rent on those terms. However, a rental market for virtual real estate is beginning to take shape, creating a new source of income for virtual landowners who buy up attractive spaces in the metaverse.

Over the past nine months, brands such as Mastercard and Heineken have rented plots for one-off events or product demonstrations, and in December Decentraland launched tools that allow anyone to rent virtual land. This is what Wired wrote on the subject.

“The goal was to democratize access to the virtual world”

explains Nico Raico, who led the development of the rental feature for Decentraland.

According to him, everyone benefits because renting gives new users an ideal “starting point” and landowners can earn a passive income.

One virtual landlord, Chris Bell, who owns one of the largest land portfolios in the Somnium Space, says he earned $18,000 in rental fees in 2021. After cutting his teeth renting out apartments in the physical world, he’s created something of a virtual real estate empire, amassing 100 parcels.

Although virtual property rental is extremely niche, an entire industry has already been created around the concept. Not only are there virtual landlords, but there are property managers and real estate agents helping them, and developers helping them design and build the buildings they want to rent out. There are even investment firms that specialize exclusively in virtual property.

Either way, so far these experiments are taking place on a small scale. Although Decentraland attracts tens of thousands of people during events such as Metaverse Fashion Week, on average fewer than 1,000 people visit the world each day – and the same is true of its competitors.

The secret to Second Life’s enduring success and stable social equilibrium – two decades later, the platform still attracts 40,000 regular users – is the relentlessness with which it mimics reality, Rosedale argues, right down to the taxation system.

While these physical assets provide token owners with short-term value, the utility of each NFT provides owners with a wide range of access, membership, service, and reward perks that renew annually increasing the ROI overtime. Matthew Hoffman, Founder of the Hobby Cartel said:

“Hobby collectibles have become an emerging asset class that can’t be ignored and we’re all in. Blockchain technology will be the catalyst that doubles the total addressable market in the next 7 years. We want to help foster that growth through increased accessibility, participation and value transparency.”

There are 5 different variant levels within this collection:

• True Believer
• Super Rare
• Ultra Rare
• Rare
• Uncommon

A growing number of companies, including the ethical cosmetics firm Lush and office-sharing firm WeWork, have begun taking payments for goods and services in cryptocurrencies such as bitcoin, alongside debit payments, credit or cash.

But while the shift has been welcomed by crypto-enthusiasts, experts said it could be an easy way for directors to hide cash from authorities, particularly when companies go bust.

Julie Palmer, a managing director at insolvency firm Begbies Traynor, said the growing popularity of cryptocurrency payments would make it harder for administrators – who are in charge of winding down a business after it fails – to track where money has come from, and whether owners, staff or directors are stripping funds out of the business illegally.

It means criminals could walk away with income that would usually be clawed back and distributed to creditors, including the tax collectors at HM Revenue and Customs and local authorities.

Palmer said that without new regulations and taxation plans, the government could face huge losses. She warned:

“The potential is limitless, depending on how popular this becomes.”

Palmer said there was nothing the insolvency profession could do to tackle the issue on its own and believes UK authorities – who are a “year or two behind” the US on the issue – should take action and introduce laws to ensure crypto-assets are properly regulated and taxed. She said:

“It’s potentially a major loss of income tax revenue.”

The Treasury is reviewing evidence from a consultation on how to regulate crypto-assets.

The review is taking place at the same time as the Bank of England and the Treasury weigh up the possibility of digital assets being integrated into the UK’s monetary system, potentially via a Bank-issued asset sometimes dubbed “Britcoin”.

While the Bank has signalled that it is open to the idea, its chief economist Andy Haldane has dismissed as fanciful the idea that existing cryptocurrencies such as bitcoin could become a standard payments mechanism.