Headlines

How Much Could Songwriter Royalties Grow? A Look at Three Scenarios

A handful of variables, including subscriber acquisitions, increased ad revenue and possible rising subscription costs, will create a multiplier effect that far surpasses the small increases in Phonorecords IV royalty rates. The same forces that built today’s music business are widely expected to continue for the foreseeable future. Streaming will expand as download and CD sales trail off.

Source: How Much Could Songwriter Royalties Grow? A Look at Three Scenarios

White House Releases ‘Comprehensive Framework’ for Crypto Regulation 

The White House has today released a “First-Ever Comprehensive Framework for Responsible Development of Digital Assets” outlining the conclusions and recommendations of various federal agencies after six months of studying the crypto industry. The directive to research crypto was given in President Biden’s executive order, signed in March this year.

Source: White House Releases ‘Comprehensive Framework’ for Crypto Regulation and Development – Decrypt

Blockchain music making startup Arpeggi Labs raises $5.1m from Steve Aoki, 3LAU and more

The startup claims to be the first blockchain music creation platform, allowing creators to compose, collaborate and sell their music on the blockchain. The startup says that it lets musicians “compose and mint their songs as fully on-chain NFTs”. Arpeggi also claims that its Arpeggi Studio is the only on-chain digital audio workstation (DAW).

Source: Blockchain music making startup Arpeggi Labs raises $5.1m from a16z crypto, Steve Aoki, 3LAU and more

Steve Cooper: Warner Music is becoming less financially dependent on superstar artists 

Speaking at Communacopia on Monday, Cooper suggested that Warner Music Group is investing an “enormous amount of A&R resources” across a bigger number of artists than it once did – including superstars and non-superstars. This, he said, constitutes a “portfolio” strategy that on average results in “mid to high teen [percentage] returns” for WMG.

Source: Steve Cooper: Warner Music is becoming less financially dependent on superstar artists – and wants to see ‘regular’ streaming price rises

YouTube Opens More Pathways for Creators to Make Money on the Platform

The Google-owned company plans to let more video creators earn money from the platform, lowering the barriers to entry for its partner program, according to audio from a YouTube all-hands meeting on Thursday. YouTube is expected to make the announcement at an event on Tuesday. It “is the largest expansion we’ve done in several years creating new ways for creators to join the program,” Amjad Hanif, vice president of product management and creator products, said in the staff meeting.

Source: YouTube Opens More Pathways for Creators to Make Money on the Platform

Web3 is creating a new genre of NFT-driven music

Before NFTs, the next wave of internet musicians was creating music for virality in short video clips. “There is no doubt that artists have been freed creatively by NFTs. They no longer have to write music that will work on a 30-second TikTok video,” says Stern. One example can be seen with NFT musician Sammy Arriaga, who leveraged his internet community on TikTok and Twitter to sell out ​​over 4,000 music NFTs.

Source: Web3 is creating a new genre of NFT-driven music

Podcast subscription service Podimo raises $58.7m in fresh funding

Podimo, a Denmark-based podcast and audiobook subscription platform that competes with the likes of SpotifyApple, and Luminary, has raised €58.6 million ($58.7m). The company says that the funding will go towards market expansion, content, and enhanced investments in tech and product. The latest raise follows Podimo’s $78 million Series B round in November.

Source: Podcast subscription service Podimo raises $58.7m in fresh funding

Defected reveals new 30% minimum royalty rate

Wez Saunders, who was recently announced as the company’s new CEO, has revealed plans to set a 30% minimum for digital royalty rates for any recording artist or producer within the label group. The majority of the electronic music-focused label’s roster already have rates of at least 30% but, according to the new plans, as of this month, a 30% minimum rate has become standard.

Source: Defected reveals new 30% minimum royalty rate

Night Media wants to acquire “established consumer-facing companies,” launches $100m investment firm

Night Capital will focus on “acquiring established consumer-facing companies in partnership with leading talent,” according to a press release. Translation: Night will use its nine-digit war chest to pick up majority stakes in the companies it backs. Then it will connect those entities to creators, who will help guide “the strategic vision and future business growth” of Night Capital’s assets.

Source: Night Media wants to acquire “established consumer-facing companies.” That’s why it’s launching a $100 million investment firm. – Tubefilter

Patreon layoffs are latest wobble for the creator economy 

If the creator economy is booming, why are some of the most prominent creator-economy companies in the music industry’s orbit laying off staff? It’s a question you can expect to be hearing more often, as the excitement around trends in social media and DIY artistry fails to insulate companies serving these sectors from economic headwinds. Or, indeed, hubris.

Source: Patreon layoffs are latest wobble for the creator economy – Music Ally

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