Digest: Dissecting the RIAA 2016 Year-End Report, Report Claims Safe Harbor Costs Industry $1B, Emoticast Raises $5M
Posted by Glen Sears, Editorial Content Manager | April 3, 2017 9:20 am | No Comments
Top Music News Story
Five Takeaways From the RIAA’s Year-End Music Industry Report
When the RIAA released its revenue statistics for 2016 yesterday (March 30), the headlines were about the industry’s remarkable growth — U.S. recorded music sales grew 11.4 percent, bolstered by the strength of streaming. That’s the first double-digit growth since 1998. But a closer look at the numbers reveals a few other notable trends.
Other Music News Highlights
With Streaming’s Explosion, Where Does the U.S. Music Business Go From Here? The question now is whether this nascent recovery will continue — and whether an industry dominated by streaming can eventually return to a level close to its 1999 revenue peak of $14.6 billion.
Streaming Subscription Revenue Rises 133% In Australia To Top $80M. The wholesale value of Australia’s recorded music market has risen for a second consecutive year as the growth in income generated from ad-funded streaming dramatically slows.
Report: Safe-Harbor Costs United States Music Business “Nearly $1B A Year.” “Using 2015 data, we find that that a plausible royalty rate increase could produce increased royalty revenues in the U.S. of $650 million to over one billion dollars a year,” claims the Phoenix Center report.
SoundExchange Is Distributing SiriusXm Settlement Funds For Pre-1972 Recordings. The distribution began in the Fall of last year, but “as we distribute these funds in the future, recording artists will notice a line item on their statements that identifies “Pre-72 Settlement” royalties,” SoundExchange said in a statement on Wednesday.
Emoticast Raises $5M As Sean Parker, will.i.am, David Guetta Back Mobile Music Messenger. Emoticast has global licenses with major label groups Universal Music and Warner Music; and major publishing groups, including Sony ATV, Warner Chappell, Universal, Sony BMG and PRS/Impel.
Paul McCartney Claims Sony Is Devaluing His Beatles Rights. His lawyer also tells a judge that without resolution to his attempt to reclaim rights, McCartney would be exposing himself — and others — to liability.
Pandora Under Pressure Even As Music Industry Warms To Westergren. Activist investors have come to view Pandora very differently from its users, with Corvex Management LP, which owns 8.8% of Pandora and may increase its stake to as high as 15%, pressuring Pandora to either get profitable quickly or sell.
Report: Apple Music Had 20% More Users Last Month Than Spotify or Pandora. 90 day free trials helped Apple Music amass 20% more unique monthly users in the U.S. in February than Spotify or Pandora, says a just-released study by Verto Index.
Native Instruments Buys Remix-Licensing Startup MetaPop. MetaPop recently announced that it had successfully licensed more than 20,000 bootleg remixes, with the company paying rightsholders 70% of the subsequent revenues; remixers 15%, and keeping a 15% cut for itself.
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