Dance music NFT platform RCRDSHP closes multi-million dollar seed round

RCRDSHP’s seed round was supported by NFT collectors Metakovan and Twobadour (via PortKey Technologies), and Dapper Labs. Metakovan and Twobadour bought the highest priced NFT in history back in March, a $69 million digital art piece created by Beeple and auctioned at Christies.

Source: Dance music NFT platform RCRDSHP closes multi-million dollar seed round, backed by the buyers of $69m Beeple digital art piece

Songwriters Organize New Guild to Take Bigger Piece of Streaming Pie

Hipgnosis CEO Merck Mercuriadis, whose fund invests in publishing rights and would benefit from higher payouts, says he already has hundreds of songwriters on board for a guild he’s planning similar to Hollywood’s Writers Guild of America. “There’s no secret the songwriter is the worst-paid person in the equation,” says Mercuriadis. “No negotiation should ever take place that affects how a songwriter is paid that doesn’t have the songwriter represented in the negotiation.”

Source: Songwriters Organize New Guild to Take Bigger Piece of Streaming Pie

Merlin and JioSaavn Finalize ‘Enhanced’ Licensing Agreement

Nine-year-old Merlin and 14-year-old JioSaavn just recently unveiled their broadened licensing agreement. The newly finalized pact “marks the first renewal between the two parties since regional music streaming service Saavn merged with India’s JioMusic” back in 2018, at which point the Jio Platforms subsidiary adopted its current name.

Source: Merlin and JioSaavn Finalize ‘Enhanced’ Licensing Agreement

SoundCloud Says Portishead Song Earned 500% More Under New Royalty Plan

A SoundCloud representative said in a statement that “full aggregation of market-live payout data is pending over the coming months,” as the company is in the midst of launching its system. “The model is tracking as expected and the Portishead stat is a strong confirmation of the model’s design—fan engagement is driving meaningful revenue.”

Source: SoundCloud Says Portishead Song Earned 500% More Under New Royalty Plan

Katy Perry, Nas, Jason Derulo Invest in Crypto Music Platform Audius 

The cryptocurrency-driven music service Audius aims to offer a hybrid of streaming giant Spotify and sharing platform Soundcloud, and its star has risen in recent months via integration with TikTok and new NFT features. Now popular musicians including Katy Perry, Nas, and others have officially come onboard via a new investment round.

Source: Katy Perry, Nas, Jason Derulo Invest in Crypto Music Platform Audius – Decrypt

YouTube Exec Says 25% of All Viewer Hours Are Spent on Music

YouTube chief business officer Robert Kyncl has revealed that a full 25 percent of YouTube viewer hours are spent on music, with another 25 percent deriving from media companies and the remaining half coming from user-generated content. Factoring based upon Google higher-up Philipp Schindler’s statement that there were “a billion-plus hours of video watched every day” on YouTube as of Q2 2021, users spend over 250 million hours daily enjoying music on the service.

Source: YouTube Exec Says 25% of All Viewer Hours Are Spent on Music

OpenSea product chief accused of flipping NFTs using insider information

OpenSea, the biggest NFT trading marketplace, said today that one of its employees used internal information to buy NFTs that were about to be featured on its homepage — and likely spike in value. Accusations were made against OpenSea’s head of product, Nate Chastain, last night after a community member publicized suspicious transactions from his wallet.

Source: OpenSea product chief accused of flipping NFTs using insider information

Genius Acquired for $80 Million by MediaLab, 

Genius Media, the widely used lyrics-database company formerly known as Rap Genius, has been acquired by app and internet media holding company MediaLab for $80 million. With the acquisition, MediaLab is making layoffs at Genius, according to Bloomberg, which first reported the sale. Genius and MediaLab would not confirm how many employees are being pink-slipped.

Source: Genius Acquired for $80 Million by MediaLab, Which Is Making Layoffs at Music Lyrics Company

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