Welcome to Music Enterprise Worldwide’s weekly round-up – the place we ensure 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 scale back their touring prices.
This week, teams representing songwriters, music publishers and document labels in the US reached a settlement over the mechanical royalty fee paid to songwriters for gross sales of bodily music, in addition to downloads.
Since 2006, the mechanical fee paid to publishers/songwriters for music bought on a bodily disc (or a obtain) has been set at 9.1 cents per observe.
The settlement this week proposes a 32% improve to that present royalty fee, to 12 cents per observe.
It additionally gives that these songwriter royalties will improve robotically every year of the speed interval in reference to the Shopper Worth Index (i.e the speed of inflation).
The settlement will now be thought of by the Copyright Royalty Board.
Additionally this week, Common Music Group printed its monetary outcomes for Q1 2022 (the three months to finish of March).
Throughout all of its divisions (together with recorded music, publishing and extra), UMG posted revenues of €2.199 billion ($2.46bn). That was up by 16.5% YoY at fixed foreign money, pushed by development throughout all income segments.
Streaming was UMG’s greatest income driver in Q1 2022, with the corporate’s recorded music streaming revenues rising 14.6% YoY at fixed foreign money to €1.209 billion ($1.35bn).
Live performance big Reside Nation additionally printed its Q1 2022 monetary outcomes this week, reporting quarterly revenues of $1.8 billion throughout all divisions, together with concert events, ticketing and promoting & sponsorship. Reside Nation says this was its “finest first quarter ever”.
Elsewhere, SoundCloud acquired AI-powered music firm Musiio, whereas UnitedMasters launched its personal beat market known as Beat Trade.
Final month, MBW instructed you about an epic negotiation happening in the US over sure sorts of mechanical royalty charges paid to songwriters for gross sales of bodily music, in addition to downloads.
This week, we discovered that the teams representing songwriters, music publishers and document labels have now reached an settlement to settle that fee negotiation.
The vital background info to this story is that since 2006, the mechanical fee paid to publishers/songwriters for music bought on a bodily disc (or a obtain) has been set at 9.1 cents per observe.
This week’s settlement proposes a 32% improve to that present royalty fee, to 12 cents per observe…
Common Music Group has printed its monetary outcomes for Q1 2022.
Throughout all of its divisions (together with recorded music, publishing and extra) the world’s greatest music rightsholder posted revenues within the three months to finish of March of €2.199 billion ($2.46bn).
That was up by 16.5% YoY at fixed foreign money, pushed by development throughout all income segments….
SoundCloud has acquired Musiio, a Singapore-based Synthetic Intelligence music curation firm based in 2018.
The information was first reported by TechCrunch, which reviews that SoundCloud plans to make use of Musiio’s know-how to spice up its personal music discovery capabilities.
Co-founded by Hazel Savage, who has beforehand labored on the likes of Shazam, Pandora and Common Music, the corporate claims to have constructed AI that may “pay attention” to music at scale.
Reside Nation has printed its monetary outcomes for Q1 2022 (ended March 31), and inside the submitting, the corporate reviews quarterly revenues of $1.8 billion throughout all divisions, together with concert events, ticketing and promoting & sponsorship.
That general income determine was up on the $290.6 million the corporate posted in Q1 2021, when the broader live performance enterprise was nonetheless working on a decreased variety of exhibits because of the pandemic.
In a letter to traders, Reside Nation CEO Michael Rapino notes that, “artists are again on the street and fan demand has by no means been stronger”…
UnitedMasters has introduced a brand new platform for getting and promoting beats known as Beat Trade.
Through this platform, UnitedMasters artists now have entry to purchase or license beats from each rising and established producers like 3x Grammy Award-winning producer Hit-Boy (Nas, Drake, Beyonce)́, Turbo (Gunna, Travis Scott, Lil Child), and Sham “Sak Pase” Joseph (Kodak Black, Rihanna, SAINt Jhn).
UnitedMasters says that its new providing is designed to “simplify searching for beats when in search of particular sounds (style, temper, instrument, and so forth.) and drive discovery by editorial playlists that spotlight each rising and established producers”…
