RECAP: Music Piracy Costs Hundreds of Millions, SOCAN Releases New APIs, Spotify Gets Millions of DJ Mixes
Posted by Glen Sears | May 31, 2016 9:38 am | No Comments
Story of the Week
Music Piracy Costs Europe $190 Million a Year, EU Study Estimates
Music piracy has taken a small but noticeable bite out of potential profits for the recording industry throughout Europe, according to a new study by the European Union Intellectual Property Office. The report places an estimate on lost music sales in 19 EU states as a result of piracy in 2014, and comes up with a total of €170 million ($190 million), or 5.2 percent of all sales.
When broken down, that amounts to €113 million ($126 million) in lost digital sales and €57m ($63.5 million) in lost physical sales, the report finds. That’s the equivalent of 5.2 percent of the sector’s revenues from both physical and digital sales.
Two member states, Germany and the U.K., account for more than half of those losses. Europe’s biggest market, Germany lost €40 million ($44.5 million) in sales due to piracy, while the U.K. lost €49 million ($54.6 million). In France, where physical sales make up two-thirds of music sales, about €26.4 ($29 million) remained on the floor. And in the land of Spotify — Sweden — €8.9 million of the €9.1 million ($10 million) total lost was in digital formats.
Top Music News Stories
SOCAN Launches APIs to Drive Music Royalties Innovation. The first two APIs announced today are “Song Registration” and “Concert Notification,” which enable writers to use new workflow apps and software to register their songs more accurately with their music publishers, labels, digital services, and SOCAN.
Spotify Cuts Dubset Deal To Add Millions Of Mixes. The MixBANK deal makes it possible for DJs to upload and legally stream their mixes and single track remixes, and enable Spotify listeners to stream radio shows and other user generated mixes that have not been previously legally available to music fans.
Global Electronic Music Industry, Worth $7.1 Billion Last Year, Sees Growth Slow. While growth in the sector is slowing — up just 3.5 percent year-over-year, the smallest chunk of a 59 percent increase over the past three — the electronic field is echoing the larger trends of the global recorded music industry as reported by the IFPI earlier this year.
David Lowery and Melissa Ferrick’s Lawsuits Against Spotify Get Combined. The suits were essentially the same in purpose and aim, and now Judge Beverly Reid O’Connell of the Central District of California has granted a motion for them to be consolidated.
Pandora Stock Up 32% On Sale Rumors. No specific suitors have been named, but Pandora has said that it is open to the right merger or acquisition — Pandora’s market cap is currently $2.61 billion.
iHeartMedia Wins Court Case Over Stock Shuffle Designed to Deal with Its Massive Debt. As the San Antonio Express-News reports, Judge Cathleen Stryker ruled in favor of the media company, which was brought to court on the transfer of 100 million shares — valued at over $500 million — from Clear Channel Outdoor Holdings to another subsidiary, Broader Media, LLC.
Spotify’s Discover Weekly Logs 40M Listeners, 5B Tracks Streamed. Discover Weekly is also proving good for artists, with 8,000+ artists having added more than half of their listeners in the last month from Discover Weekly alone.
The Two Spotify Charts You Need To See. Rights and associated costs accounted for 83% of Spotify’s 2015 revenue, up from 81% in 2014, and this resulted in a dramatic fall in Spotify’s gross margin per user: down from $4.20 in 2013 to $3.45 in 2015.
Shamrock Capital Advisors Close $250 Million Fund To Invest In Music Publishing, Record Masters, Other Intellectual Property. Shamrock Capital Advisors today announced the final closing of Entertainment IP Fund (EIP), a $250 million fund focused on acquiring or financing entertainment intellectual property rights including music publishing, recorded music masters, tv, film video games and other entertainment content.
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