US performance rights organization SoundExchange distributed USD $269 million in digital royalties to creators in the second quarter of 2023. The distribution marked a17% YoY increase from the same period last year, SoundExchange said in a press release. This resulted in H1 2023 distributions reaching $498 million, up 7.1% from $464.9 million in the first half of 2022.
Source: SoundExchange paid out $498m to artists and labels in the first half of 2023
The catalog includes works of the bands REO Speedwagon, KISS, and Cheap Trick. The Mojo catalog spans nine decades and comprises more than 30,000songs including 89 Billboard No.1 hits, adding what Concord says is “a remarkable selection of music” to its publishing portfolio of 800,000 songs. The company says that the deal “further highlights Concord’s continued strategic growth”.
Source: Concord acquires Mojo Music & Media’s catalog of more than 30,000 songs
The subscription-based streaming model proves vastly different than the ad-revenue-fueled traditional TV bundle. High licensing costs and low revenues per subscriber quickly caught up with studios, which had previously placated shareholders with massive subscription growth. Yet streaming remains the focus for all of these companies as consumers rapidly cut the cord and opt for streaming.
Source: Hollywood is paying a steep price for never really figuring out the streaming model
Source: Streaming’s problems will not be fixed by royalties alone
After months of rumors, Katy Perry has sold her music rights to Litmus Music, the Carlyle-backed company co-founded by former Capitol Records president Dan McCarroll, for $225 million, the company announced Monday. The deal includes Perry’s stakes in master recordings and publishing rights for the five albums she released between 2008 and 2020.
Source: Katy Perry Sells Catalog Rights to Litmus Music for $225 Million
UK management body the MMF’s series of ‘Dissecting the Digital Dollar’ reports have gone down well with managers looking for accessible industry explainers. The guide explains AI technologies relevant to music; looks at the rights and legal issues around them; and the industry campaigns and policy positions. However, we’re most interested in the inclusion of a template letter, provided by the Council of Music Makers, for managers to send to labels, distributors and publishers.
Source: MMF gives managers a template letter on AI-training rights – Music Ally
Metaphysic, which made its name via convincing deepfake videos of celebrities, is launching a tool Thursday that aims to help individual performers secure their rights to their own images. The new platform allows creators to “create, store and protect their personal biometric data and manage how it is used by third parties and generative AI to build photorealistic performances, digital identities and AI avatars.”
Source: Startup gives stars new way to lock down their AI likenesses
As with previous DiMA reports, there are plenty of interesting stats, albeit tuned towards the positive impact of these DSPs. 78% of hip-hop streamers listen to music daily; they’re 25% more likely to use new features on streaming services than the average listener; and 75% are ‘lean-in’ listeners who like to pick their songs and create playlists.
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Source: Latest DiMA report explores streaming habits of hip-hop fans – Music Ally
IMPALA members have flagged that some of the language used in the press in reaction to Deezer’s proposal is “clearly unfortunate.” Impala’s letter reads. “It’s a common thread through the history of recorded music that the great artistic advances and changes have come from, and through, the independent sector. I don’t expect Goldman Sachs to know that, but Deezer and UMG certainly do.”
Source: IMPALA Responds to Deezer & UMG’s Proposal for Streaming
Wiedenfels said that the media company had been “hopeful” the strikes would be over by early September. They weren’t — so WBD issued the warning to investors that the strikes would lower its total earnings given that content releases would be “subdued” in Q3 and Q4.