From UMG’s $ 1 million an hour to Paul McCartney’s music streaming crusade: this is MBW’s weekly roundup
welcome to Music company in the worldthe weekly roundup – where we make sure you’ve caught the five biggest stories that hit the headlines in the past seven days. MBW’s round-up is supported by Centtrip, which helps more than 500 of the world’s best-selling artists maximize revenue and reduce touring costs.
If you want to know how healthy the music rights business is today, know this:
Universal music group generated over $ 1 million in revenue each hour in the first quarter of this year.
Vivendi released UMG’s first quarter results this week, revealing the music company made $ 2.2 billion from recorded music, publishing and other revenue streams.
Vivendi also revealed that it expects UMG to go public in Amsterdam in “the fall” of 2021.
Meanwhile, a letter sent this week to the UK government, co-signed by figures including Paul McCartney, Led Zeppelin, Sting, Chris Martin and Stevie Nicks, called for artists to be paid differently for lean back streaming pieces. In the UNITED KINGDOM.
The last five days have also seen Sony In praise of music Applenew podcast subscriptions, while Songtradr acquired Pretzel, a platform that provides DMCA-proof music for Twitch and Youtube live broadcasters.
Here is a recap of what happened …
Universal Music Group’s first quarter results are released, thanks to its majority parent company Vivendi – which yesterday (April 22) said it expected UMG to go public in Amsterdam at “l ‘fall’ 2021.
For now, let’s stick with the first three months of this year… another impressive time for UMG and its CEO and Chairman, Sir Lucian Grainge.
According to Vivendi’s results, Universal Music Group’s total revenue – including recorded music, publishing and other revenue streams – reached 1.81 billion euros ($ 2.20 billion ) in the first quarter, up 9.4% year-on-year.
Quite simply because we know that MBW readers like these statistics: that quarterly revenue of $ 2.20 billion equates to $ 24.5 million per day, or… yes… just over 1 million dollars. dollars per hour, throughout the first quarter.
As you probably know, a UK parliamentary inquiry is now looking into the economics of music streaming in Britain.
One of the propositions they chew on is whether the algorithmic plays on the tastes of Spotify (i.e. parts which have been chosen for you, as opposed to those which you have pressed play on) should be treated according to the same rules as ‘fair pay’ on radio in the UK . Ergo: Should 50% of the money generated by these lean-back pieces go straight to the artists, no matter how unrecovered they might be in Record Label Land.
Unsurprisingly, record companies aren’t too fond of this idea – and artists are. very passionate about this idea.
So here’s the big news this week: The stature of artists calling on the UK government to impose “fair compensation” on streaming services has just become a hit.
Apple Music was all the rage last Friday (April 16) when it made proud statements about its payouts to artists and songwriters – and, by association, potentially damning claims about Spotify’s matched distributions.
These claims all appeared in an email newsletter Apple sent to the industry and the artist community. This bulletin has now been obtained by MBW and is reprinted below.
Apple doesn’t mention Spotify explicitly in the letter at all, although you wouldn’t guess from subsequent media coverage.
This is especially true for some headlines related to Apple’s following claim: “Our average rate per reading is $ 0.01.”
Spotify, which has invested hundreds of millions of dollars in podcasting over the past few years, sent a user survey in November indicating that it was considering launching a stand-alone podcast subscription service.
Apple just beat Spotify. This week, the tech giant unveiled Apple Podcast subscriptions, which it describes as “a global marketplace for listeners to experience premium subscriptions offered by their favorite creators alongside millions of free shows on Apple Podcasts.”
Apple’s official statement announcing the news includes quotes from executives of various media and entertainment brands welcoming the launch of the new service.
Some of these companies include Tenderfoot TV, Pushkin Industries, PRX’s Radiotopia, QCODE, NPR, The Los Angeles Times, and The Athletic.
Dennis Kooker, President of Global Digital Business and US Sales at Sony Music Entertainment, is among them.
Who will be the fastest growing music company of 2021? Don’t count Songtradr.
In the past six months alone, the Los Angeles-based company – which calls itself “the world’s largest B2B music licensing market” – has acquired music and sound design firm Song Zu (as part of a multi-million dollar deal), as well as Cuesongs, a UK-based sync licensing company.
Additionally, Songtradr, which raised $ 30 million in a Series C round last summer, recently launched a new brand-oriented division, Vinyl By Songtradr, under the leadership of the ex-director of ‘UMG Mike Tunnicliffe, and ex-Coca Cola manager Joe Belliotti.
This week has brought more great news from Songtradr, via an acquisition that brings it into a rapidly expanding area of the modern music industry.
Welcome to Music Business Worldwide’s weekly roundup – where we make sure you’ve caught the five biggest stories that hit the headlines over the past seven days. MBW’s roundup is supported by Centtrip, which helps more than 500 of the world’s top-selling artists maximize revenue and reduce touring costs.Music company in the world