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Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure that you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.
If you wish to understand how wholesome the music rights enterprise is immediately, know this:
Common Music Group generated greater than $1 million in income each hour within the first quarter of this 12 months.
Vivendi revealed UMG’s Q1 outcomes this week, revealing that the music firm generated $2.2 billion throughout recorded music, publishing, and different earnings streams.
Vivendi additionally revealed that it expects UMG will likely be going public in Amsterdam in “the autumn” of 2021.
In the meantime, a letter despatched this week to the British authorities, co-signed by the likes of Paul McCartney, Led Zeppelin, Sting, Chris Martin and Stevie Nicks, has known as for artists to be paid in another way from “lean again” streaming performs within the UK.
The previous 5 days have additionally seen Sony Music reward Apple‘s new Podcasts Subscriptions, whereas Songtradr acquired Pretzel, a platform that gives DMCA-proof music for Twitch and YouTube livestreamers.
Right here’s a recap of what occurred…
1) UNIVERSAL MUSIC GROUP GENERATED OVER $1M PER HOUR IN Q1… AND EXPECTS TO GO PUBLIC IN THE FALL
Common Music Group’s Q1 outcomes are out, courtesy of its majority-parent, Vivendi – which yesterday (April 22) stated it expects UMG will likely be going public in Amsterdam in “the autumn” of 2021.
For now, let’s follow the primary three months of this 12 months… one other spectacular interval for UMG and its CEO and Chairman, Sir Lucian Grainge.
In line with Vivendi’s outcomes, Common Music Group’s complete revenues – together with recorded music, publishing and different earnings streams – hit €1.81bn ($2.20bn) in Q1, up 9.4% year-on-year.
Simply because we all know MBW readers dig these stats: That $2.20bn quarterly turnover was equal to $24.5m a day, or… yep… simply over $1m an hour, throughout the expanse of Q1.
2) Why are Paul McCartney, Led Zeppelin, Sting, Chris Martin and Stevie Nicks demanding the UK authorities ‘fixes streaming’?
As you’re in all probability conscious, a UK Parliamentary Inquiry is at present wanting into the economics of music streaming in Britain.
One of many proposals they’re chewing over is whether or not algorithmic performs on the likes of Spotify (i.e. performs which were chosen for you, versus these on which you’ve pressed play) needs to be handled beneath the identical guidelines as “equitable remuneration” on radio within the UK. Ergo: Whether or not 50% of the cash generated by these “lean-back” performs ought to go direct to artists, irrespective of how unrecouped they may be over in File Label Land.
Unsurprisingly, file labels aren’t too eager on this concept – and artists are very eager on this concept.
So right here’s the massive information this week: the stature of the artists calling for the UK authorities to implement “equitable remuneration” on streaming providers simply went blockbuster.
3) APPLE MUSIC JUST MADE A LOT OF CLAIMS ABOUT WHAT IT PAYS ARTISTS. LET’S TAKE A CLOSER LOOK.
Apple Music brought on furore final Friday (April 16) when it made some proud claims about its payouts to artists and songwriters – and, by affiliation, some doubtlessly damning claims about Spotify‘s equal distributions.
These claims all appeared in an e-mail publication despatched by Apple to the business and artist neighborhood. This text has now been obtained by MBW and is re-published under.
Apple doesn’t explicitly point out Spotify in any respect within the letter, though you wouldn’t guess it from the following media protection.
That’s very true of sure headlines linked to the next assertion from Apple: “Our common per play fee is $0.01.”
4) SONY MUSIC APPLAUDS APPLE’S NEW PODCAST SUBSCRIPTION LAUNCH
Spotify, which has been pouring tons of of hundreds of thousands of {dollars} into podcasting over the previous few years, despatched out a consumer survey in November indicating that it was mulling the launch of a standalone podcast subscription service.
Apple simply beat Spotify to it. This week, the tech big unveiled Apple Podcasts Subscriptions, which it describes as “a worldwide market for listeners to find premium subscriptions provided by their favourite creators alongside hundreds of thousands of free reveals on Apple Podcasts”.
Apple’s official launch asserting the information consists of quotes from executives of assorted media and leisure manufacturers hailing the launch of the brand new service.
A few of these firms embrace Tenderfoot TV, Pushkin Industries, Radiotopia from PRX, QCODE, NPR, the Los Angeles Instances and The Athletic.
Dennis Kooker, President of World Digital Enterprise and US Gross sales at Sony Music Leisure, is amongst them.
5) SONGTRADR ACQUIRES PRETZEL, WHICH PROVIDES DMCA-PROOF MUSIC FOR TWITCH AND YOUTUBE LIVESTREAMERS
Who would be the fastest-growing music firm of 2021? Don’t rely out Songtradr.
Up to now six months alone, the Los Angeles-headquartered firm – which dubs itself “the world’s largest B2B music licensing market” – has acquired the likes of music and sound design agency Tune Zu (in a multi-million greenback deal), in addition to UK-based sync licensing enterprise Cuesongs.
As well as, Songtradr, which raised $30 million in a Collection C spherical final summer time, not too long ago launched a brand new brand-facing division, Vinyl By Songtradr, beneath the management of ex-UMG exec Mike Tunnicliffe, and ex-Coca Cola exec Joe Belliotti.
This week introduced extra huge information from Songtradr, through an acquisition that takes it right into a rapidly-expanding space of the fashionable music enterprise.
Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.Music Enterprise Worldwide
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