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 revenue and scale back their touring prices.
Songwriters scored a serious victory within the US seven days in the past.
Again in January 2018, the Copyright Royalty Board (CRB) dominated that US songwriter/writer royalty charges for on-demand streaming (and different makes use of) had been to rise from 10.5% to fifteen.1% between 2018 and 2022.
You may keep in mind, nonetheless, that Spotify, Amazon, and Google/Alphabet subsequently launched a authorized attraction in opposition to the brand new charges.
However on July 1, the CRB maintained its choice to extend the headline fee paid to songwriters within the US to fifteen.1%.
Additionally this week, France-born Spotify rival Deezer made its inventory market debut on the Euronext Paris, after combining its enterprise with I2PO, a Particular Objective Acquisition Firm (SPAC) based mostly in France.
Deezer turned 2022’s newest music streaming service to go public through a SPAC merger, following MENA-focused Anghami‘s IPO on the NASDAQ in New York.
In the meantime, the Monetary Occasionsreported this week that TikTok has scrapped the growth of its TikTok Store characteristic into Europe and the US.
Launched within the UK in December 2021, TikTok Store lets creators promote merchandise straight on TikTok by way of in-feed movies and reside streams. Final 12 months, in an interview with MBW, TikTok’s International Head of Music Ole Obermann mentioned plans for e-commerce options for artists inside its app.
MBW reached out to TikTok to make clear whether or not the claims reported by the FT would have any influence on TikTok’s music-related e-commerce plans outlined by Obermann.
Elsewhere, music veteran Irv Gotti offered a stake in his Homicide Inc. grasp recordings to Iconoclast as a part of a $300 million deal, whereas Common Music Group struck a licensing take care of African music service Mdundo.
On July 1, the Copyright Royalty Board (CRB) maintained its choice to extend the headline fee paid to songwriters in america from on-demand streaming providers between the years 2018 and 2022.
To refresh your reminiscence: In January 2018, songwriters loved a serious victory when the CRB dominated that songwriter/writer royalty charges for streaming and different mechanical makes use of had been to rise considerably within the US.
That ruling centered on a rise within the general share of streaming providers’ US revenues that legally must be paid by the likes of Spotify to songwriters.
The CRB determined to maneuver that share determine up from 10.5% to fifteen.1% throughout the 5 years between 2018 and 2022. It was the biggest fee enhance within the historical past of the CRB.
Nevertheless, Spotify and different firms, together with Amazon and Google/Alphabet – however NOT Apple – subsequently launched a authorized attraction in opposition to the brand new charges, arguing that they had been unjustified.
Now, the CRB has made its closing choice – and the 15.1% fee goes nowhere…
Spotify rival Deezer is formally a publicly-listed firm.
The music streaming service made its inventory market debut in its house nation of France on the Euronext Paris on Tuesday (July 5), after combining its enterprise with I2PO, a Particular Objective Acquisition Firm (SPAC) based mostly in France.
The corporate’s public itemizing comes seven years after the plug was pulled on its earlier try at an IPO.
Deezer turns into this 12 months’s newest music streaming service to turn out to be a publicly listed firm through a SPAC merger, following MENA-focused Anghami’s latest IPO on the NASDAQ in New York…
Final 12 months, in an interview with MBW, TikTok’s International Head of Music Ole Obermann mentioned plans for e-commerce options for artists inside its app.
He famous that TikTok “lately did just a few checks within the US the place we labored with big-name artists to allow them to promote bodily merchandise off of their TikTok accounts”.
Obermann cited artists together with Lizzo and Billie Eilish as being concerned in these checks, telling MBW on the time that, “the numbers had been large” including: “It blew us away”.
An article revealed by the Monetary Occasions this week left main questions hanging over the way forward for these e-commerce plans for artists on the platform…
Veteran music government and producer Irv Gotti (Irving Lorenzo), the founding father of rap label Homicide Inc, has offered a stake in his grasp recordings to Olivier Chastan’s acquisition car, Iconoclast.
The music exec has introduced that the deal is price $300 million, and in accordance with a media launch, “sees him promote his 50% possession stake of his masters, with further funding for varied movie and tv tasks”….
African music service Mdundo, which listed on the Danish inventory change (the Nasdaq First North Progress Market) in September 2020, has struck a licensing take care of Common Music Group (UMG).
UMG says that its new deal covers key African territories.
Mdundo studies to have 17 million lively month-to-month customers throughout Africa, which implies the service has added 10 million since February 2021…
