YouTube is boasting about its status as the biggest platform supporting the creator economy, announcing that it has surpassed 2 million creators in its YouTube Partner Program, which shares a cut of ad revenue that run on eligible channels. According to YouTube, over the last three years, it has paid more than $30 billion to creators, artists and media companies.
Source: YouTube Tops 2 Million Creators in Ad-Revenue Sharing Program
The new monthly chart will rank digital creators who are driving music consumption through their content creation. The Song Breaker Chart will recognize their roles in helping songs debut and rise up Billboard charts through original and/or widely circulated memes, dance challenges and more.
Source: Billboard Teams Up With Logitech for New ‘Song Breaker’ Chart
The subscription e-newsletter platform Substack has already made its mark on the media business, but will it do the same for book publishing? Authors including Elle Griffin, John McWhorter, Maggie Stiefvater, and Matt Taibbi use the service to serialize new books or publish short stories exclusive to their newsletter audiences, but to date, the platform is still only dipping its toes into the book business.
Source: Serialized Books Are a Burgeoning Business at Substack
The music industry is at a pivot point as new ways of interacting and monetizing music arise with unprecedented speed. Kanye West’s Donda live stream generating $7 million in merch sales demonstrates the financial scalability of a unique live stream event that cannot be replicated in the on-demand era.
Source: Hip hop fandom is driving the music business’ future in gaming, live streaming and beyond
Like a new groove or a hot new sound, investors and financial firms are devising new ways to cash in on the streaming boom that don’t involve outright acquisition of rights and the administrative overhead that comes with them. And, in many cases, they also don’t require artists to give up ownership of their own creations in order to reap the rewards.
Downtown Music Holdings — the umbrella organization that houses several music-services brands like CD Baby, FUGA, Songtrust, Downtown Neighboring Rights and more — is shaking up its executive leadership team. Founder and CEO Justin Kalifowitz will transition to a new role as executive chairman of the company, while longtime general counsel and COO Andrew Bergman rises to the role of CEO.
Source: Downtown Music Holdings Names New CEO, Kalifowitz to Executive Director
The new NFT marketplace, dubbed “Blockchain Digital Copyright and Asset-Trade,” can be accessed via Alibaba’s Auction platform. NFTs launched via the platform will be issued on the “New Copyright Blockchain” — a distributed ledger technology platform centrally operated by the Sichuan Blockchain Association Copyright Committee.
Source: Alibaba launches NFT marketplace for copyright trading
In recent months, a number of studio owners have struck deals with exhibitors — including Regal parent Cineworld, Cinemark, and AMC — to lock in exclusive theatrical releases. It’s a sign that even studios attached to major streaming services believe they still need theaters to make a major release a success.
Source: Studios still need movie theaters, and they’re making the deals to prove it
To begin with, music fans and many artists thought that virtual/digital events were a temporary placeholder before IRL returns. Recent in-game events, however, demonstrate the enormous additional value that an interactive experience can provide to both the Games and Music industries. Much of this would not have been possible in real life. The potential for virtual events is extending, rather than replacing their value.
Source: The Music industry’s gaming experience is growing beyond traditional sync and licensing
The 40-year-old digital artist known as Beeple may have grabbed headlines last spring when one of his works sold at Christie’s for $69 million, but NFT markets like Atomic Hub, Nefty Blocks and OpenSea are filled with creators barely old enough to drive. They promote their work not through blue-chip galleries or auction houses but on social media.