July, 2022

22 million songs a year, and only 12 notes available 

While the music industry rightly celebrates artists for innovation, the DNA of popular music has always been based on certain recognized tropes and formulas. But if there ever was a time when imitation would have been seen as a form of flattery, this no longer rings true in the industry today. Copyright disputes, in some cases involving decades-old material, can be complicated by multiple different owners and rights holders.

Source: “22 million songs a year, and only 12 notes available” – pursuing a copyright claim in the music industry today (Guest column) – Music Ally

Lyrics Platform Musixmatch Announces Investment From TPG

Lyrics-providing platform Musixmatch has secured a significant investment from TPG Growth, “the middle market and growth equity platform” of the asset management firm TPG. The strategic partnership advances Musixmatch’s goal of providing lyrical content, enriched metadata, tools, and services while expanding its offerings internationally.  Musixmatch has provided metadata to many digital service providers (DSPs), including Amazon Music, Apple Music, Google, Instagram, Spotify, and Tidal. 

Source: Lyrics Platform Musixmatch Announces Investment From TPG

Meet George Johnson: The Angriest Songwriter in Washington, D.C.

Johnson might be best understood as the music business equivalent of those earnest long-shot candidates who run for president with a big idea but face long odds — not quite as sophisticated as Ralph Nader but far more serious than Deez Nutz. He has no legal background, and he spends long, solitary days in his bare Florida apartment writing motions and preparing testimony, which is always smart but often over the top.

Source: Meet George Johnson: The Angriest Songwriter in Washington, D.C.

Beyoncé Releases Album ‘Renaissance’: Can She Break the New Music Curse?

Total consumption of current music in the U.S.—album sales, track purchases and online streams of music that is less than 18 months old—shrunk by 1.4% in the first half of 2022, according to a new report by Luminate.  The decline is especially worrying for music executives because Americans are actually consuming 9.3% more music than last year. “We’re talking about ‘current’ music actually getting less popular,” Tim Ingham of industry tracker Music Business Worldwide wrote in a recent analysis.

Source: Beyoncé Releases Album ‘Renaissance’: Can She Break the New Music Curse?

Sony generated over $2bn from recorded music and publishing in calendar Q2

Sony’s global music rights operation – across recorded music and music publishing – generated USD $2.03 billion in the three months to end of June 2022. The $2.03 billion figure was up 11.7% year-on-year (vs. calendar Q2 2021) at US dollar-converted constant currency. In monetary terms, Sony’s overall music rights operation (recorded music plus music publishing) generated approximately $212 million more in calendar Q2 2022 than in the prior-year quarter.

Source: Sony generated over $2bn from recorded music and publishing in calendar Q2; recorded music revenues were up 11.2% YoY

Facebook to End Payments to U.S. News Publishers

Meta Platforms Inc. has begun telling publishers in the U.S. that it won’t renew contracts to feature their content in its Facebook News tab, according to people familiar with the matter. The decision affects deals worth over $100 million, according to a person familiar with the situation. Meta had signed up a host of publishers in recent years, including deals worth tens of millions of dollars with news organizations such as The Wall Street Journal, the New York Times and the Washington Post.

Source: Facebook to End Payments to U.S. News Publishers

Is the NFT Boom Over? Trading Volumes Hit 12-Month Lows

NFTs have not escaped the crypto bear market, trading data shows. The non-fungible token market is struggling to maintain the parabolic growth it experienced during the bull market of 2021. Data from top NFT trading venues such as OpenSea reveals that trading volumes have fallen off a cliff in recent months, now at their lowest levels since July 2021.

Source: Is the NFT Boom Over? Trading Volumes Hit 12-Month Lows

Universal Music Group Revenue Jumps Amid Streaming Growth

The Big Three record label unveiled its second-quarter showing – and its continued streaming growth – this afternoon. In total, Universal Music Group said that it had pulled down €2.54 billion (the dollar and the euro were nearly even at the time of writing) during Q2 2022, which reflects the initially mentioned 25.4 percent YoY boost as well as a 17.3 percent gain in constant currency (CC).

Source: Universal Music Group Revenue Jumps Amid Streaming Growth

Snapchat Will Pay Indie Music Artists Up to $100,000 Monthly for Top-Performing Songs

Starting in August, Snap will provide monthly grants of up to $100,000 to artists who are distributing music on Snapchat via DistroKid. The program is currently capped at 20 songs; Snap says it will provide grants of $5,000 per song to artists, based on the level of engagement Snapchat users have with the music.

Source: Snapchat Will Pay Indie Music Artists Up to $100,000 Monthly for Top-Performing Songs

Spotify paid $123 million for Findaway, the bedrock of its audiobook ambitions

Spotify’s purchase of Findaway, a platform that allows users to create, distribute, and monetize their own audiobooks, cost it €117 million, or around $123 million USD, the company revealed today. Findaway will provide the infrastructure for what will become the third pillar of Spotify’s business. The streaming service first announced the acquisition last November.

Source: Spotify paid $123 million for Findaway, the bedrock of its audiobook ambitions

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