Headlines

ABBA’s Bjorn Ulveus Unveils ‘Credits Due’ Program to ‘Ensure the Right People Get Paid’ 

Bjorn Ulvaeus, co-founder of ABBA and president of CISAC, unveiled a new global initiative called “Credits Due” on Tuesday that is intended to upgrade the music industry’s payment processes. The initiative, created by the Ivors Academy and the Music Rights Awareness Foundation is intended to “unite the music industry’s approach to ensuring that complete and accurate song metadata is attached to all recordings at the point of creation.”

Source: ABBA’s Bjorn Ulveus Unveils ‘Credits Due’ Program to ‘Ensure the Right People Get Paid’ for Music

Merck Mercuriadis hits back at NMPA’s Israelite in open letter to industry

It’s worth repeating: the song is the currency of our business. Yet the songwriter — who delivers the most important component to the success of a record company, publisher, promoter, manager, agent, music venue, radio station, broadcaster et al – is the lowest paid person in the economic equation. An equation that has made the modern music industry a juggernaut.

Source: Merck Mercuriadis: ‘None of us should be able to sleep in good conscience at night until the true value of the songwriters’ contributions to this business are recognized.’

BMG’s Masuch thinks the music industry is putting too much of its money in the wrong places.

Frontline investment is actually getting more aggressive than it ever did before, and yet if you look at some industry numbers, catalog is heading towards 70% market share on streams. It raises the question: why the hell is so much money being applied to that remaining 30% [i.e. frontline A&R]?

Source: Hartwig Masuch thinks the music industry is putting too much of its money in the wrong places.

Music Sampling platform Tracklib raises $12.2m, led by Sony Innovation Fund

Stockholm-based Tracklib, a platform providing music producers and artists with pre-cleared original music for sampling, has secured $12.2 million in investment in its latest funding round. The funds come from both existing and several new investors, including former NBA player, actor and music producer Baron Davis.

Source: Music Sampling platform Tracklib raises $12.2m, led by Sony Innovation Fund

Universal Music Group Stock Surges On First Day of Public Trading

French conglomerate Vivendi set an €18.50 ($21.69 at the present exchange rate) reference price for Universal Music Group stock, and shares hiked as much as 43 percent past the figure out of the gate, to a high of €26.45 ($31) apiece. And while trading activity promptly cooled down UMG stock remained well above the aforementioned reference price, finishing the day at €25.10 ($29.42) per share, just beneath the €25.25 ($29.61) opening price.

Source: Universal Music Group Stock Surges On First Day of Public Trading

Universal Music valued around $39 billion ahead of stock market debut

Universal Music Group, the business behind singers such as Lady Gaga, Taylor Swift and The Weeknd, is valued at around 33.5 billion euros ($39.30 billion) ahead of the record label’s stock market debut in Amsterdam on Tuesday. France’s Vivendi is spinning off Universal and on Monday set a reference price for the listing at 18.5 euros per share, according to a statement issued by Euronext.

Source: Universal Music valued around $39 billion ahead of stock market debut

‘Lockdown’ Thriller to Be Offered as NFT Film Ahead of Theatrical Release

The film’s producers Phoenix Waters Productions and AMM Global have teamed with specialty firm Marvion Media and will offer a limited edition of just five NFTs in October. They will also offer NFT to attend both the Hong Kong and U.K. premieres of the film.

Source: ‘Lockdown’ Thriller to Be Offered as NFT Film Ahead of Theatrical Release

Hollywood Embraces TikTok Stars for TV, Film Projects

Faced with an aging audience and a younger generation more interested in social media than the silver screen and television, studio executives are increasingly hiring talent made famous on digital platforms, such as Charli D’Amelio and Addison Rae Easterling, known as Addison Rae, two of the most-followed creators on TikTok, for high-profile film and TV projects.

Source: Hollywood Embraces TikTok Stars for TV, Film Projects

Get the latest RightsTech news and analysis delivered directly in your inbox every week
We respect your privacy.