A spokesperson for the BPI, which represents independent and major record labels across the UK, welcomed what it called “the CMA’s objective, evidence-based report which confirms that the streaming market is competitive”. The BPI added that the org believes the industry is “delivering fans accessible and affordable music and artists greater choice in an environment in which many more are succeeding and where artist and songwriter royalty rates have increased”.
November, 2022
Warner Chappell strikes deal with Web3 firm Defien to launch digital museum for the ‘art and stories of songs’
Defient describes itself as a Web3 entertainment company and NFT incubator that develops products through technology, community, NFT releases, and industry-leading partnerships. The music publishing arm of Warner Music Group says its first project as part of the partnership will be the launch of ‘Archives,’ which a press release explains will serve as a multi-dimensional digital museum powered by blockchain.
Festivals in the metaverse: How Web3 projects are taking culture virtual
One way brands and organizations are using the metaverse is by hosting large-scale virtual events similar to those they already hold in-real-life. Most recently, Decentraland held a four-day music festival with mega-headliners which included Björk, Ozzy Osbourne and Soulja Boy. The event had multiple stages designed with the aesthetic of the artist performing, along with other interactive attractions for festival goers.
Source: Festivals in the metaverse: How Web3 projects are taking culture virtual
Warner Records’ Web3 Label Sold 5,555 NFTs in 7 Minutes. Now It Wants to Share IP Rights With Fans
After selling out a collection of NFT access-passes, the holders will now gather in a Discord server to help develop artists together, share the credits of any future awards such as a Grammy, and ultimately offer intellectual property rights in some of the projects to NFT holders. The experiment is a collaboration between Warner Records UK and Web3 brand Probably Nothing, whose debut NFT collection fetched $500k in seven minutes in October.
Source: Warner Records’ Web3 Label Sold 5,555 NFTs in 7 Minutes. Now It Wants to Share IP Rights With Fans
Concord music rights to fuel $1.65bn Apollo bond offering – report
Financial giant Apollo Global Management is reportedly selling a $1.65 billion bond backed by music rights from Concord’s catalog, which would mark the music company’s first securitization. That’s according to Bloomberg, citing people with knowledge of the matter, who said that Apollo ‘has already secured an anchor order for a large chunk of the debt’.
Source: Concord music rights to fuel $1.65bn Apollo bond offering – report
Court Rejects Meta’s Motion to Dismiss Epidemic Sound Lawsuit
A judge has rejected Meta’s motion to dismiss the copyright infringement lawsuit that it’s facing from Epidemic Sound. This latest development in the high-stakes legal showdown, which initiated in July of this year, just recently came to light in a court order. In the original complaint, Epidemic Sound claimed that Meta had infringed upon over 1,800 recordings and compositions during the preceding five years.
Source: Court Rejects Meta’s Motion to Dismiss Epidemic Sound Lawsuit
Apple Music Encourages International Standard Name Identifier (ISNI) Metadata Submissions by Rights Owners
Apple Music has sent word to its label partners and music sector organizations that the company is encouraging the submissions of ISNI metadata as part of its standard workflow procedure. The announcement is excellent news for creators and music industry organizations by helping to ensure that musicians, contributors, record labels, and their music will be unambiguously attributed — while making it easier for Apple Music listeners to find that content than before.
Is the Music Industry’s Love Affair With TikTok ‘Dead’?
The music industry is accustomed to leveraging marketing tools, but it’s finding TikTok increasingly tough to control. “TikTok is eating itself,” declares Max Bernstein, who founded the marketing agency Muuser. “It still drives consumption if you get it right, but it’s much harder to maneuver now. Trends are siloed when they used to be community-wide, and influencer media is becoming prohibitively expensive.”
Source: Is the Music Industry’s Love Affair With TikTok ‘Dead’?
Here’s Why Shorter Songs Are Surging (And Why Some Welcome It)
A 2018 study by San Francisco-based engineer Michael Tauberg concluded that songs on the Billboard Hot 100 shed around 40 seconds since 2000, falling from 4:10-ish to roughly 3:30. The average length of the top 50 tracks on Billboard‘s year-end Hot 100 in 2021 was even less, a mere 3:07. “It’s a reaction to the culture of soundbites that we moved towards,” says Vincent “Tuff” Morgan, VP of A&R at peermusic. “I have producers in the studio this week just going through and making songs shorter.”
Source: Here’s Why Shorter Songs Are Surging (And Why Some Welcome It)
$40m-backed Symphonic Distribution plans to be a ‘true alternative’ to traditional labels
In a bid to differentiate itself, Symphonic Distribution has opened up what it says are detailed TikTok analytics to DIY artists as part of its new $19.99 per-year ‘Starter Plan’, which also includes unlimited releases. “There are many providers of DIY distribution, but when we looked closer, we found that the offerings at the intro pricing levels are very limited,” claims Jorge Brea, founder & CEO of Florida-headquartered Symphonic.
Source: How $40m-backed Symphonic Distribution plans to be a ‘true alternative’ to traditional labels