Debate continues to rage about whether or not it’s time for Spotify and other services to increase this price point (something SPOT has already done in Brazil and parts of Scandinavia). But that infamous $9.99 monthly price point is now also becoming a fixture of another important – and fast-growing – segment of the modern music industry: th
Source: Are we witnessing the rise of the $9.99 creator subscription economy?
Round Hill Music‘s Music Royalty Fund Two vehicle has acquired the music publishing catalog of legendary producer, writer, musician, music supervisor, music publisher and DJ John ‘Jellybean’ Benitez. The catalog which includes worldwide hits by Madonna, Whitney Houston, Snap, Will Smith and Nas among others.
Music streaming and discovery platform Audiomack has launched a new feature that lets fans fund artists directly by purchasing ‘support badges’ for individual song and album releases. Audiomack says its new monetization tool, called ‘Supporters’, is “a first-of-its-kind feature in music streaming”.
The origins of this 9.99 price point are disputed. Some allude to the “charm pricing” technique purporting that bills ending in 99 feel more than one cent cheaper than the next highest integer. Others say the number was set to mirror the cost of a Blockbuster rental card. Whatever its true genesis, the two-decades old 9.99 price point is the missing note for the ongoing chorus of debate about how much music is worth and what it should cost.
Source: Malbeconomics: Taking stock of the twentieth anniversary of the 9.99 price point — Tarzan Economics
Democrats in Congress are taking aim at the pending $43 billion merger of WarnerMedia and Discovery, pushing the Justice Department to scrutinize the transaction on antitrust grounds. In a letter sent Monday to Attorney General Merrick Garland and Justice Department antitrust chief Jonathan Kanter, the legislators assert that too much consolidation in media will hurt competition in Hollywood’s labor market and result in less diversity overall in content.
The New York City-based entity intends to put the $3.5 million tranche towards accelerating the “first of its kind direct global digital licensing and collection for Comedians and other spoken word authors, music publishers and songwriters.” The latter two groups, Word Collections relayed, will benefit from “30% more revenue annually along with unparalleled transparency.”
Source: Comedy-Focused Royalty Company Word Collections Announces $3.5m Raise
The bill contained a number of proposals that would, in essence, have monetarily benefitted artists and featured performers to the detriment of record labels with whom these artists had signed contracts. Proposed by Labour politician Kevin Brennan MP, the headline suggestion of the ‘Brennan bill’ was the introduction of ‘Equitable Remuneration’ into UK law.
Source: Bill that would have hit record company profits in the UK rejected by British government
Sound Royalties says that the new touring advance program will work similarly to a “typical advance” with the company, but with customizations as it pertains to touring income versus music royalties. Each qualified performer will have the opportunity to access funding based off of their royalty streams or their guaranteed negotiated tour agreement.
Source: Sound Royalties launches advances for artists and performers seeking tour and production support
WarnerMedia and Discovery will be under pressure to divest some assets, especially outside the U.S., to secure approval for the $43 billion spinoff pact with AT&T that will bring WarnerMedia and Discovery together. AT&T’s eagerness to move on from its swan dive into the entertainment arena could make the company a willing seller of discrete assets in order to get the complicated transaction over the finish line.
Source: Biden’s Antitrust Squeeze May Grease the Wheels for TV Deals (Column)
Podimo – which offers podcasters the choice of exclusive and non-exclusive distribution – intends to put this latest capital influx towards expanding its market presence, founder and CEO Morten Strunge indicated in a statement. Moreover, Strunge, the founder of e-book and audiobook subscription service Mofibo, likewise emphasized his ambitious vision for (non-music) audio entertainment’s growth potential.
Source: Podcast and Audiobook Platform Podimo Completes $78M Series B