Headlines

MMF CEO: Opaque black box of song royalties needs to be transformed into glass box.

While songwriters should, in theory, be major beneficiaries of the shift to streaming (in the UK and Europe, song rights are allocated almost double the revenues from a stream than they received from a CD sale), in practice their revenues are reduced significantly by gross inefficiencies in our arcane and byzantine system of collection and distribution.

Source: ‘What is currently an opaque black box of song royalties, needs to be transformed into a glass box.’

Disney Trims $1B In Content Spend Amid Drive for Streaming Profits

Disney is beginning to take a closer look at content spend. Disney is not alone here (Netflix and Warner Bros. Discovery executives have also indicated that they will be keeping a close watch on content budgets), but the company’s quarterly report gives some indication that the Mouse House is already making tweaks.

Source: Disney Trims $1B In Content Spend Amid Drive for Streaming Profits

Disney Adds 9.2 Million Streaming Customers in Q1, Gets Set to Run Down Netflix 

Catching Netflix, which then had over 165 million subscribers, was an almost unthinkable prospect for Disney on November 12, 2019. But just 31 months after it launched Disney Plus, surpassing Netflix in global scale is no longer a matter of if, but when. And “when” is probably later this year.

Source: Disney Adds 9.2 Million Streaming Customers in Q1, Gets Set to Run Down Netflix (Chart)

Chainsmokers Share New Album Royalties With Fans via NFT Drop in Music Industry First 

The electronic music duo The Chainsmokers are best known for catchy hits like “Closer” and “Paris,” but they have also made a name for themselves as Web3 innovators. The latest example comes with the release of their new album “So Far So Good,” which will include a drop of 5,000 NFTs that will let fans share in 1% of the royalties.

Source: Chainsmokers Share New Album Royalties With Fans via NFT Drop in Music Industry First – Decrypt

NFTs Started ‘a Digital Art Renaissance.’ It’s Far From Over 

Technology, in the form of non-fungible tokens (NFTs) such as CryptoPunks, has played a key role in disrupting traditional art-market dynamics. Online marketplaces and platforms have enabled artists to dispense with gatekeepers, birthing a billion-dollar business that favors creators.

Source: NFTs Started ‘a Digital Art Renaissance.’ It’s Far From Over – Decrypt

U.S. Senator introduces bill giving Big Tech its own federal watchdog

Throughout history, Congress has established expert agencies to oversee important parts of the American economy — from agriculture to drugs to railroads. Now amid growing concerns about the power of Silicon Valley, a Democratic senator suggests reforming current institutions isn’t enough: a new federal watchdog is needed to regulate the country’s most influential tech companies.

Source: Senator introduces bill giving Big Tech its own federal watchdog

New Legislation Gives Telecoms Regulator Major Powers to Fight Piracy 

The Italian telecoms regulator AGCOM already has tools at its disposal to fight piracy but legislation winding its way through the corridors of power will move things to a new level. In addition to making it easier for copyright holders to disable access to identified infringing content at the ISP level, similar powers will enable urgent and precautionary blocking even before an infringement takes place.

Source: New Legislation Gives Telecoms Regulator Major Powers to Fight Piracy * TorrentFreak

Shutterstock acquires stock video marketplace Pond5 for $210m, including a library of 1.6m royalty-free music tracks

Pond5’s customers include the likes of Netflix, Disney, NBC, BBC, Discovery Channel and The Wall Street Journal and its collection includes 30 million licensable video clips. The company also runs a royalty-free stock music service, with a library of 1.6 million music tracks and 1.7 million sound effects assets, which Shutterstock now owns, following a $210 million cash deal to acquire Pond5.

Source: Shutterstock acquires stock video marketplace Pond5 for $210m, including a library of 1.6m royalty-free music tracks

Elon Musk says he’s ‘very much on the same page’ as the EU on social media laws

Tesla billionaire and future Twitter owner Elon Musk says he’s “very much on the same page” as the European Union about the Digital Services Act. Musk appeared in a short video alongside EU Commissioner Thierry Breton to confirm his support for the DSA, which — among other things — requires large platforms to police illegal content and assess the risk of harm their services pose, including from disinformation.

Source: Elon Musk says he’s ‘very much on the same page’ as the EU on social media laws

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