Posted by Glen Sears | April 4, 2016 9:47 am | No Comments
Story of the Week
Soundcloud Go Paid Subscription Service Finally Launches in the U.S.
The launch comes shortly after SoundCloud reached a licensing deal with Sony Music, the third and final major label to sign on the dotted line, also joining indie agency Merlin and various publishers.
Details? The official price for SoundCloud Go will be $9.99 a month – with a 30-day free trial – with features including offline listening; a catalogue of 125m tracks swelled by the catalogues of those partner labels; and no advertising.
Why “official” price? Because SoundCloud Go is launching through the company’s iOS and Android apps: it’ll cost $9.99 on Android but $12.99 on iOS, due to Apple’s 30% cut of in-app subscriptions. Meanwhile, musicians and other creators who already pay for SoundCloud’s ‘Pro Unlimited’ features will get a discounted rate of $4.99 a month on SoundCloud Go for the first six months.
Top Music News Stories
SoundCloud Premium Faces Unique And Difficult Challenges. Industry analyst Mark Mulligan says “the current model will not maximize Soundcloud’s vast potential—instead of Spotify-like 15-20% conversion rates, expect King and Supercell-like 1.5-5% rates.”
YouTube Says It Already Pays A Whole Lot Of Royalties. YouTube’s powerful position in the industry makes it a tough financial nut to crack after coming under fire for underpaying on the substantial percentage of total music streams delivered by the service.
What A New Pandora CEO Means For Artists, Labels And Investors. Chris Castle believes Tim Westergren has integrity, but must address Pandora’s overhead, litigation, and lobbying issues to truly turn the company around.
Music Industry A-Listers Call on Congress to Reform Copyright Act. “Artists spanning a variety of genres and generations are submitting comments to the federal government’s U.S. Copyright Office today and tomorrow demanding reforms to the antiquated DMCA which forces creators to police the entire Internet for instances of theft, placing an undue burden on these artists and unfairly favoring technology companies and rogue pirate sites.”
Spotify Raises $1 Billion in Convertible Debt Financing. Convertible debt can be exchanged for stock later and comes with the advantage that it does not require a company valuation at the time of investment and hence does not risk diluting stock value when Spotify goes public.
David Lowery Talks Lawsuits, Licensing, and Free Streaming. “Maybe it was naive of us, but we thought we would solve this problem for everybody – and that services, investors in those services and even the entire music industry might welcome that solution.”
Jay Z Serves Legal Papers to Former Tidal Owners Over ‘Misleading’ Subscriber Numbers. “It became clear after taking control of Tidal and conducting our own audit that the total number of subscribers was actually well below the 540,000 reported to us by the prior owners—as a result, we have now served legal notice to parties involved in the sale.
Bankrupt SFX Forced To Pay Artists 100% In Advance, CEO Sillerman Shares Resignation Letter. “As we enter this next phase, despite the place we find ourselves, there is much to be proud of. It remains incumbent on all of us to refocus our energies and find the path to success that is out there. I am confident that with renewed discipline combined with passion and creativity that our original goals can and will be met.”
UMPG, Ole Pull Production Music Catalogs From ASCAP, Move Them to SESAC. The move has enraged several songwriters groups, which have aligned under the banner MusicAnswers to protest the moves, claiming that writers alone should have the right to decide their PRO affiliation, and that publishers do not have the right to change it unilaterally.
Our best wishes for a great week! – MediaNet
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