Getting a record deal used to be the number one priority for unsigned bands. Having the backing of a label, with the budget to distribute and market their music, was perhaps the only way to grow and start playing bigger and better shows. But with a shift in how listeners consume music, there’s been a change in what’s actually important when you want to “make it”.
Digital distribution technology and services company FUGA has acquired Nashville-based rights management platform Songspace for an undisclosed sum. Formed in 2014, Songspace has more than 250 publisher and record label clients including Kobalt, Reservoir Media, Downtown Music Publishing, Big Deal Music and Sentric.
Some high powered music industry figures and recording artists that include super managers Irving Azoff and Coran Capshaw have joined forces to launch a new lobbying group that will advocate for musicians. The Coalition will focus its advocacy efforts on a number of key issues at both the state and federal level, including royalty rates, and copyright law.
The first half of 2019 may end up marking the peak of the party in the music industry. French media conglomerate Vivendi needs to sell a stake in Universal Music Group, the world’s top music company, while everyone is still having such fun.
Within Beggars Group’s latest annual accounts, filed this week on UK Companies House, the firm explains: “During the year we received the proceeds of the sale of our shares in Spotify. We believe that our artists should share equally in that windfall.”
Can streaming culture and the music industry coexist in a world where algorithms are used to track down unlicensed tunes, strip audio from videos, and dole out bans to streamers? Gavin Johnson, head of gaming at Monstercat, believes there can be a middle ground.
Big tech companies have been under pressure from regulators and lawmakers to provide more insight into how their businesses operate. The lack of disclosure around YouTube’s finances is a reminder that some of them have actually made understanding how they make money more difficult over the last year.
Chastened since the turn of the millennium, the streaming revolution has now revivified the recording industry — at least, those at the top of it. Critics say the pro rata model disproportionately privileges top artists and labels, and leaves little chance for even midsize artists, such as a band like Khruangbin — whose most-listened-to songs have tens of millions of listens on Spotify — to get a fair shake.