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Stem raises $20M to streamline music industry payments

Payments Dive

Startup Stem Disintermedia, which aims to bring its financial payout tools to a broader sector of the music industry, lured investments from merchant payments player Block and the major fintech venture firm QED Investors to fuel its growth.

Industry 351
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Stem: A fintech solution helping the music industry prosper

Payments Dive

The music industry has been hit hard by the coronavirus. Concerts and tours are cancelled leaving those in the industry, from the novice to the veteran, scrambling for revenue. Stem, a distribution and payments platform founded by Milana Rabkin Lewis, is ready to lend a hand to help artists through the pandemic and beyond.

Industry 412
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Square Said To Mull Buy of Jay-Z’s TIDAL Music-Streaming Service

PYMNTS

Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL , the audio service owned by billionaire music legend Jay-Z. After facing extinction in the early years of file sharing and Napster in the early 2000s, the music industry has completely reinvented itself over the past 20 years.

Video 349
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Report: Tesla Plans To Integrate Apple, Amazon Music In Its Cars

PYMNTS

Tesla is said to be supplementing its in-car music services beyond Spotify , adding Jay Z’s Tidal , Apple Music , Amazon Music and Amazon’s Audible to its native interface, Electrek reported Monday (Dec. Most cars provide music and other streaming services by using Bluetooth to pair with the driver’s smartphone.

Apple 278
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Guitar Center Troubles Aside, Pandemic Tunes Musical Instrument Sales

PYMNTS

A pandemic-fueled surge in people wanting to learn how to play guitar and piano has given the country’s largest retailer of musical instruments a second chance at life, as investors and creditors have signed on to a plan that will allow 500 Guitar Center stores to emerge from bankruptcy. In announcing the plan, which cuts its $1.3

Retail 218
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Amazon Music Hits 55M Streaming Subscribers

PYMNTS

Amazon Music has been steadily gaining in popularity despite only being around since 2016, a full two years after Apple debuted its own music service. Amazon Music has been offering six price tiers, ranging from a free service to a premium, but Amazon said that “nearly all” of its users are paid subscribers.

Apple 168
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Amazon Music Goes Ultra-High-Definition

PYMNTS

Thanks to a partnership with Universal Music Group and Warner Music Group, thousands of tunes on Amazon Music will be retooled to ultra-high-definition, Amazon announced on Friday (Oct. For the first time, music from Marvin Gaye, Nirvana, Diana Ross, Lady Gaga, The Notorious B.I.G., It costs $14.99 per month, or $12.99

Apple 131