Democratic presidential candidate Elizabeth Warren has joined a number of public figures and celebrities taking to social media to comment on Taylor Swift’s battle with Scott Borchetta, head of Big Machine Label Group, and Scooter Braun, the company’s new owner.
The Merck Mercuriadis-founded company visited the LSE on Friday (November 15) with Nile Rogers – a board member the company’s investment adviser The Family (Music) Limited – to celebrate its admission to the Premium Segment, and its completion of four equity fundraises since its launch in June 2018.
After Swift posted on social media that her former label and Scooter Braun were keeping her from performing her old songs at the American Music Awards next week, as well as denying their use in an upcoming Netflix documentary, Big Machine and Braun — who owns Swift’s masters — slammed the singer’s charges and then accused her of owing them millions of dollars. Now, a rep for the singer says the new claims from Big Machine are false.
Under the agreement, the MLC will receive $33.5 million in startup costs, as well as a first-year operating budget of $28.5 million, with the bill being split among the digital services — Amazon, Apple, Google, Pandora and Spotify — proportional by size, with the largest footing the larger portion of the payment.
As the streaming wars intensify companies are fighting to lock up consumers’ entertainment dollars. But another scramble is underway to land creative talent. The skirmish is so fierce, and the talent so scarce, it sometimes means that rabid streaming competitors are messily in business with the same creators.
The creative community is concerned about the impact of the latest wave of media mergers and acquisitions, and about how paychecks will be affected by the shift to direct-to-consumer content platforms. There is growing interest over what role Netflix will play in the next round of negotiations.
According to information shared this week with DMN, the class action payout process is now riddled with problems. Those include flat-out non-responses, major errors in matching ISRCs with actual recordings, and other logistical problems. Jeff Price, founder of Audiam, part of SOCAN, told us that initial requests to match data and make claims were not receiving responses.
CISAC’s Global Collections Report 2019, published November 7, reveals that music collections have risen 26.8% over the last five years and accounted for 88% of total collections (alongside Audiovisual, Literary, Dramatic & Visual Arts collections) in 2018. In addition, music royalties from digital sources jumped 30% to €1.64bn ($1.81bn) last year.
The report identifies five key ‘barriers’ for music managers and their clients, including access to Finance; Support for Mental Health; Diversification of Skills; Transparency on Income Streams and Revenue and New Commerical Models. One of the the report’s recommendations is the need for an exploration of ‘new commercial models between managers and their clients, as well as those with key industry partners’.
Since launching the micro-membership model in November 2018, the site has garnered over 10,000 subscribers, and Sebastian expects that the election year will drive up that number even higher. Additionally, in October, Pierce’s content was up 60% in views year over year.