NMPA General Counsel Danielle Aguirre said Spotify’s bundling practice has already resulted in $230 million in lost revenue during its first year. Aguirre added that “these losses will continue if we can’t reverse or correct Spotify’s actions. In fact, if we don’t stop them, we are projected to lose over $3.1 billion through the next CRB period,” which will be Phonorecords V, which determines mechanical royalty rates for 2028 through 2032.
Source: NMPA says Spotify ‘bundling’ move could cost music publishers $3.1bn through 2032
The major and the Silver Lake-backed investment firm unveiled that JV today, with plans in place to spearhead growth “outside traditional recorded music and music publishing.” Though time will tell exactly what this entails, the companies intend to zero in on film, TV, fashion, consumer products, brands, and more.
Academic publishers are rushing to sign licensing deals with artificial intelligence companies, carving out a new revenue stream as US research funding cuts dim their outlook. Taylor & Francis signed a $10 million deal with Microsoft Corp. last year. Bloomsbury Publishing Plc is looking to “monetize academic content through AI deals,” it said in its latest set of results, and John Wiley & Sons Inc. announced partnerships with Amazon Web Services and Perplexity earlier this year.
The Book Industry Study Group has announced the launch of Find a Rightsholder, a searchable database with information on how to reach rights and permissions contacts for more than 3,500 imprints. Unlike title management tools that seek to facilitate dealmaking and take a cut of any transaction, Find a Rightsholder is focused solely on helping the publishing community locate relevant contacts for U.S. and U.K. publishers.
