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.”
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.
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]?
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.
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.
The National Music Publishers’ Association (NMPA) and Amazon-owned livestreaming platform Twitch have announced an agreement, which, in a statement they explain will see them “work together to build productive partnerships between the service and music publishers”.
Twitch and the National Music Publishers’ Association (NMPA) are close to signing a music licensing agreement, multiple sources tell Billboard, potentially ending an arduous, year-long stalemate between the livestreaming platform and publishing organization.
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.
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.
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.