I. Music & Tech
Spotify Hits 140 Million Active Users
Last Thursday Spotify reported to have 140 million monthly active users – putting them up from a monthly average of 126 million in 2016. While their number of paid subscribers has not been reported since March of last year, the growth in active users should equate to an increase in subscriptions. Even with these positive results, Spotify is carrying some serious financial baggage with a net loss of $601 million at the end of last year. For more details check it out here.
JAY-Z Confirms Exclusive 4:44 Album Release with Tidal X Sprint
JAY-Z fans are definitely rejoicing since the confirmation that he would be releasing a new project titled 4:44 on June 30th. However, in honor of their recent partnerships the album is going to be an exclusive release for Sprint and Tidal customers. Exclusive releases seem to be a common theme in the on going battle for market share in the music streaming space. For more info and to see a visual trailer set to the track ‘adnis’, head here.
Dr. Dre Donates 10 Million For a Performing Arts Center in Compton
Compton native, hip hop pioneer, and business mogul Dr. Dre recently donated 10 million dollars to the Compton Unified school District to fund the construction of a performing arts center. Dr. Dre has constantly given back to his community and believes “The performing arts center will be a place for young people to be creative in a way that will help further their education and positively define their future.” Judging from this initiative and building the Iovine and Young Academy at USC, it is clear Dre puts tremendous emphasis on youth and education. Read more here.
II. Entertainment & Entrepreneurship
From a far most people probably think Jimmy Iovine and Dr. Dre make quite the odd couple. However, looks can be deceiving. On July 9th, HBO is going to debut Defiant Ones. A docuseries directed by Allen Hughes that follows the stories of Brooklyn native, Jimmy Iovine, and Compton native, Dr. Dre, granting insight into their improbable partnership. Check out the trailer here.