Leading concert promoter Live Nation has revealed that it will dramatically lower artist payouts in 2021 due to the COVID-19 pandemic’s financial fallout. Because of the coronavirus’s effects, Live Nation “must adequately account for the shift in market demand, the exponential rise of certain costs, and the overall increase of uncertainty that materially affects our mission,” per the memo.
Source: Live Nation Will Dramatically Reduce Artist Payouts in 2021
In a development that likely comes as little surprise, Twitch has cancelled TwitchCon San Diego — its biannual community gathering for streamer meet-and-greets, esports play, platform announcements, and more — which was originally slated to take place from September 25 to 27.
Source: Twitch Cancels TwitchCon San Diego Gathering, But Is Exploring Virtual Alternatives – Tubefilter
The deal calls for the companies to collaborate on new programming from original intellectual property, and may include “never-before-heard crossover events” between original characters and existing franchises. Spotify’s broader deal with WarnerMedia also calls for the development of original scripted podcast content for non-DC properties like Looney Tunes and Supernatural.
Source: DC Inks Exclusive Deal With Spotify To Put Heroes In Your Earbuds
The business of news remains bleak. Media across the world are cutting staff to cope with a dramatic fall in advertising revenue. But a ray of hope may be that increasing numbers of people are willing to pay for news online, though that may also increase informational inequality as many cannot afford top quality journalism.
Source: The future of media: more digital and more economic pain, Reuters Institute says
Streaming services now own the song. Social is doing an okay, but far from perfect job of owning the artist story. But no one – digitally – is owning the fandom. Music fans have to hop from one place to another to join the dots. This of course contrasts sharply with Chinese streaming services which own all three steps in the music journey.
This marks the first time that Ed Sullivan Show performance and guest segments will be officially available in their entirety across streaming services worldwide. Included in this vast catalog are iconic clips that have primarily only been available in excerpted versions on EdSullivan.com or as low-resolution digital bootlegs. Scores of rarities will also be available digitally for the first time.
Source: Universal inks global deal with Sofa Entertainment for iconic catalog from ‘The Ed Sullivan Show’
The country singer will host a concert event at 300 drive-in theaters across North America on June 27, he announced on “Good Morning America” on Thursday. “This one guy came to me and said, ‘Hey, look, we can put 300 drive-in theaters together if you will create a concert solely for the drive-ins. We can have families jump in the car, get them out on Saturday night,” Brooks said.
Source: Garth Brooks to host concert event at 300 drive-in theaters in North America
Live Performance Australia has an AUD $345 million recovery plan for the live entertainment industry. The organization represents promoters, festival organizers, and other companies in the live entertainment space. The proposal is worth $241 million USD and will help bring Australia’s concert industry back. Estimates from 2018 suggest the Australian live sector was worth $1.4 billion USD in ticket sales alone.
Source: Australia’s Concert Industry Has a $345 Million Recovery Plan
The German government has committed over $169 million (€150 million) to boosting its live music sphere, as part of a broader $1.13 billion (€1 billion) plan to reinvigorate cultural institutions and entertainment businesses, which have been hit especially hard by the coronavirus (COVID-19) crisis.
Source: Germany Commits 150 Million Euros to ‘Restart’ Live Music
ANote Music, a European marketplace for investing in music royalties using blockchain distributed ledger technology, announced Thursday that it will officially launch its platform on July 28. The platform will allow users to invest in music, own rights from content creators and earn returns through royalties from music sales.
Source: ANote Music to launch blockchain-based music royalty investment platform July 28 – SiliconANGLE