Like Twitter, music streaming services are killing it with huge mobile audiences – tens of millions of users and rising. But they are struggling to turn growing audiences into growing business success and a burst of consolidation is likely on the horizon.

Sound smart: None of the big players are profitable: Spotify is about go public; Pandora is taking big money from SiriusXM to compete; and Soundcloud just laid off 40 percent of its staff to stay afloat.

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Data: Monthly uniques from Verto Analytics. Subscriber counts self-reported. Spotify and Apple from 2017, Rhapsody and Tidal from 2016; Chart: Andrew Witherspoon / Axios

Bottom line: The audience is there, but the cash isn't flowing ... yet. A big part of that stems from economics behind the digital economy (too many players in a crowded field) and music ownership and distribution rights — an issue that has been at the heart of the streaming mess since the beginning.

Deeper: The streaming economy is built around the premise that one day these giants will grow big enough to be able to force music labels to meet their terms, instead of the other way around. Apple Music is reportedly looking to give music labels less of a cut, but nothing has been negotiated yet. Spotify celebrated a mere 3-cent royalties reduction deal with Universal from 55% to 52% earlier this year.

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Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.