Primary Wave Music Publishing has finalized a multi-million dollar deal to acquire a majority stake in the pre-1964 music publishing catalog of soul music pioneer Ray Charles. Terms of the agreement with Charles’ heirs include a majority of the publishing and writer’s share, as well as all administration rights, for some of the iconic singer, songwriter and musician’s biggest hits, including “What’d I Say,” “Ain’t That Love,” and “I Got A Woman.”
When the Metropolitan Opera offered Bizet’s “Carmen” to the public as the first of its free, ongoing “Nightly Opera Streams” of past performances, its website crashed due to the unprecedented demand; rebroadcasts have subsequently attracted about 7.9 million people world-wide.
From a value chain perspective, Lockdown came too early for live streaming; it is under-developed, under-monetised, under-licensed, under-professionalised. Unfortunately, the live-streaming surge is showing all the signs of a goldrush with a lack of clear structure and the first signs of artist backlash.
Source: The Future of Live
“The MLC represents one of those changes that transforms the music business, once every generation or two,” Ahrend says. “You have to go back to the passage of the Digital Millennium Copyright Act to see the last kind of moment where our industry changed. Sound Exchange later came into being as an organization that helped to really transform an aspect of the business. The MLC will be similarly transformative.”
MatchTune, formerly known as Muzeek, was founded in 2017 by composer André Manoukian and tech entrepreneur Philippe Guillaud (pictured) and claims that its AI with music-to-image synchronisation algorithms can create unique variations of professional-standard music in seconds.
At times like this, when so many physical bookstores around the world are closed, when so many publishers’ and wholesalers’ warehouses are working reduced shifts or none, when the profit from selling printed books has diminished to zero or—like the West Texas Intermediate oil price moves dramatically into negative territory—the income from rights to intellectual property seems even more important.
Mayer joins TikTok at a pivotal moment for the app, which is owned by Chinese conglomerate ByteDance. Less than three years old, it has been on a quick ascent that has been aided by the coronavirus pandemic. In March, the app surpassed 2 billion worldwide downloads, according to third-party measurement firm Sensor Tower. Mayer also will serve as COO of ByteDance.
Since early March, when the Warner Music Group decided to delay the initial public offering it had announced the month before, it had seemed as if the company’s plans to go public could be derailed by the COVID-19 pandemic that shut down economies around the world and plunged asset pricing in most capital markets.
British collection society PRS for Music collected a record £810.8m (approximately $990m) on behalf of its 145,000 songwriter, composer and music publisher members in 2019, a year-on-year increase of 8.7% or £65m ($79). During the 12 months to December 31, 2019, PRS reports that a record £686m ($834) was processed and paid out, an increase of 13.7% on 2018.
The coronavirus pandemic has led to a video streaming surge and cord cutting acceleration that could affect long-lasting change in consumer viewership behavior. Rob Holmes, vice president of programming at Roku, said consumers were already looking for more value in video products before the virus and that current economic uncertainties and other factors have now heightened that demand.