This Week In Music: 14th July 2023

A weekly update on all things music, advertising, and technology coming straight to you from Anthony Vanger at Sixième Son. #TWIM

ON-DEMAND AUDIO STREAMS GREW 13.5% TO REACH 616.5BN IN THE US IN H1

US market monitor Luminate (formerly MRC Data / Nielsen Music) has been the source of a number of head-turning stats about the modern music business this year.In April, for example, Luminate revealed that on-demand music audio streams across the world crossed the one trillion mark in Q1 – marking the first year in history that milestone has been reached in just three months.Luminate also noted that an average of 120,000 ISRCs (i.e. new music audio files) were added to music streaming services – across audio and video platforms – per day in Q1 2023.

LONDON IS GETTING A NEW 15,000-CAPACITY VENUE IN A FORMER IKEA

DRUMSHEDS is a new space situated in a former IKEA in Tottenham. The 608,000-square-foot arena will host dance music events, as well as fashion shows, set builds and more. The full programme is still TBA.DRUMSHEDS joins other large-scale venues operated by Broadwick Live, including The Beams, Printworks and Depot Mayfield in Manchester. Nearby spot The Drumsheds shut in January last year."Broadwick's mission has always been to build brands that deliver unrivalled live experiences that create real impact," said director of strategy, Simeon Aldred. "We want DRUMSHEDS, like all the spaces we create, to be new centres of cultural gravity that provide the basis for human connection. A connection that people crave now more than ever."

PIONEER DJ’S PARENT COMPANY ALPHATHETA CORPORATION ACQUIRES SERATO

AlphaTheta Corporation, the company that oversees brands including Pioneer DJ and rekordbox, has announced its acquisition of Serato Audio Research Limited. Announced today (11th July), both companies have confirmed the acquisition of all Serato shares by AlphaTheta. The move is currently pending approval from the New Zealand Overseas Investment Office and the finalisation of other customary conditions.The companies have worked together previously. Serato’s popular DJ software was first made compatible with Pioneer DJ hardware in 2012 with the release of the DDJ-SX controller. Numerous Pioneer DJ controllers released in the decade since then have been compatible with Serato, alongside Pioneer DJ's own software, rekordbox.