A click-to-cancel rule could have a serious downside for streaming services’ revenues – but the global momentum for such a rule is growing. A group of US House representatives have introduced the Click to Cancel Act, a two-page bill that would turn the FTC’s overturned regulation into law, in exactly the same form as the FTC set it out last fall. That would allow the rule to get past the regulatory requirements the FTC faces when it makes changes to how businesses operate.
Source: The US’s ‘click-to-cancel’ rule could soon be law. What would that mean for streaming services?
The opt-in agreement between Kobalt and $3.3 billion-valued Eleven Labs establishes what sources describe as “parity” between publishing and recorded music revenues. Each side will receive an approximate 50/50 split of royalties generated from the AI platform. Eleven Music’s basic tier is trained on production music, but a forthcoming ‘Eleven Music Pro’ offering will soon be trained on cleared catalog from Kobalt and Merlin.
A report last month from search analytics firm Ahrefs showed Reddit appearing in 5.5% of Google’s AI Overviews responses, the most of any source. Reddit’s position as a repository of knowledge shared and curated by actual people is a big part of the appeal. “Human conversation is not being replaced by AI, instead, it’s becoming more important,” Reddit Chief Executive Steve Huffman said on the company’s earnings call.
The financial terms of the multiyear deal, which haven’t previously been disclosed, offer a window into how publishers and artificial-intelligence companies are valuing news content in the midst of a seismic change in how consumers seek information online. The annual payment amounts to nearly 1% of the Times’s total 2024 revenue. It was the first AI-related licensing pact for the Times and Amazon’s first such agreement with a publisher.
According to a statement released on Tuesday (July 22), Concord is issuing $1.765 billion in bonds via a series of new five-year, seven-year, and ten-year senior notes. The bonds are backed by Concord’s catalog of over 1.3 million music copyrights. The latest bond issuance represents Concord’s fourth securitization offering and is claimed to be “the largest and longest tenured asset-backed term securitization of music rights to date”.