Advertising revenue at the world’s biggest video platform jumped 84%, up from $3.81 billion in the year-earlier period when COVID put a damper on marketing spending. Alphabet, Google’s parent company, reported YouTube’s ad revenue as part of its Q2 earnings — which blew past Wall Street expectations.
Source: YouTube Q2 Ad Revenue Hits Record $7 Billion as Alphabet Trounces Estimates
Newspapers, TV stations and other news outlets that have seen their revenue siphoned away by online platforms could get an assist from Congress under legislation that a House panel took up Friday. If passed, the legislation would grant news organizations a four-year exemption from antitrust laws to band together to negotiate compensation from online platforms that use their content, including Facebook and Google.
Source: House Panel Weighs Moves to Rein in Big Tech, Aid Media
Sony Corporation of America has announced a new subsidiary called Sony Immersive Music Studios, which is focused on “developing immersive music experiences through the power of creativity and technology”. The division is led by digital entertainment veteran Brad Spahr, who according to Sony is “an award-winning developer of next-generation experiences at the intersection of music, immersive reality, and gaming”.
Given the historical ubiquity of piracy in China, formal licensing deals weren’t an easy win, and getting royalty reports isn’t a given (the exclusive arrangements signed between the major labels and Tencent, which are said to be expiring in 2020/2021, pay out ‘minimum guarantee’ advances instead of royalties). Still, it’s a marked improvement for labels from the past situation in China – no income and no licenses.
Originally on the Sony Pictures theatrical calendar for Father’s Day weekend, the film instead will become the biggest feature film commitment made by Apple to premiere on Apple TV+. It is the latest in a growing indication that Apple is making its move, and becoming as aggressive as any streamer or studio in auctions for the acquisition of films and TV projects.
Source: Tom Hanks WWII Film ‘Greyhound’ Alters Course In Apple Deal: Film Will Premiere On Apple TV +
Twitch avoids the problematic “begging bowl” undertone that can plague artists on other direct subscription services like Patreon by offering fans something in return — an exclusive, interactive live video experience — that Olson believes has an immediate premium value in the mind of the audience.
According to the company, its PPV platform “will drive a new revenue-sharing model for both artists and LiveXLive via digital ticket sales, fan tipping, digital meet and greets, merchandise sales and sponsorship.” LiveXLive’s first pay-per-view event will be the 11E1even Group-produced virtual concert series Live From Out There, featuring more than 45 live performances starting on Friday, May 15 and continuing for four weeks until June 7.
The streaming platform has long enabled artists to highlight a piece of music on their profile via the ‘Artist’s Pick’ headline. Now, Spotify has launched a sister version of this feature, ‘Artist Fundraising Pick’, which allows acts to pin a specific destination on their profile where fan can pay them ‘tips’.
Source: Spotify now enables fans to pay artists money direct, via Cash App and PayPal.me partnerships
It took much longer than expected but seven months after the conclusion of a copyright trial that stunned the music world, a California federal judge on Tuesday delivered a win to Katy Perry, Capitol Records, Lukasz “Dr. Luke” Gottwald and others who worked on the 2013 hit “Dark Horse.”
Source: Katy Perry & Capitol Records Off the Hook for $2.8M ‘Dark Horse’ Copyright Verdict
As the coronavirus continues to spread worldwide, the entertainment industry has heeded health notices and travel restrictions by canceling events and postponing productions planned for the near future. Countless jobs will be affected by the virus, and financial reverberations for individuals, companies and economies will last months, at the least.
Source: Coronavirus is shutting down movies, tours and festivals. Here’s where things stand.