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SoundCloud May Have New Equity Deals, YouTube Red Merging with Google Play, SESAC Strikes U.S. Radio Deal

Posted by Glen Sears | July 31, 2017 9:25 am | No Comments

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SoundCloud Nears Deal To Sell Majority Stake To Private Equity Firms. A pair of private equity firms are reportedly close to each taking a separate stake in the unprofitable music streamer that would collectively mean the acquisition of a majority of the company.

YouTube Red And Google Play Music To Merge, Says Lyor Cohen. Cohen didn’t talk timescale or details, but Google has issued its own statement to The Verge confirming that the plans are afoot, following its decision to combine the two services’ teams in February this year.

SESAC Strikes Landmark US Radio Deal. The private US-based licensing organization has reached a new deal with the Radio Music License Committee, which the PRO claims will result in substantially larger rates for its clients that ASCAP’s equivalent agreement.

Pandora Shuts Down In Australia And New Zealand After 5 Years. “We’re honored to have connected so many listeners with the music they love these past few years. Thank you for your loyalty and the opportunity to serve you.”

Facebook Takes Another Big Step Towards The Music Biz With Source3 Buyout. The move is being looked on in many quarters as evidence that Facebook wants to shore up the ability of its Rights Manager platform in order to catch copyright infringing videos on its platform.

ASCAP, BMI Are Building A Joint Song Database. The database, which will be publicly available initially via ASCAP’s and BMI’s websites, will feature aggregated information from both repertories.

ASCAP-BMI Song Database Plan Rollout Questioned. Some industry executives said the nearly two-year-long effort to create a single database is a step in the right direction, but others are disappointed that it omits key data and for now excludes SESAC and Global Music Rights.

PBS CEO Warns Federal Cuts Will Mean ‘A Number’ of Stations Will Shut Down. Many of those stations are in rural and underserved areas, she said, with residents who either don’t have access to cable or satellite or can’t afford it and who rely on over-the-air broadcasting.

Soundcloud Has A Really Bad Week, Apple and Deezer Show Interest, Concord Grabs ex-Warner Catalog

Posted by Glen Sears | July 10, 2017 10:25 am | No Comments

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SoundCloud Lays Off 40 Percent of Staff, Commits to ‘Independent Future’
In a statement on SoundCloud’s blog announcing the move, co-founder and CEO Alex Ljung wrote that the layoffs were due to a long-term desire to achieve profitability through cost reduction and revenue growth, in order to be “in control of SoundCloud’s independent future.”

After Laying Off 173 Employees, Does SoundCloud Really Have A ‘Path To Profitability’? According to Music Business Worldwide, in the context of SoundCloud’s recent financial results, it arguably doesn’t seem very realistic.

How Soundcloud Could Transform Deezer’s Market Narrative. Mark Mulligan claims that, despite this shift in its public narrative, Soundcloud remains a uniquely valuable asset in the streaming landscape, one that would give another streaming service a distinct competitive advantage.

Radio Still Has A Wider Weekly Reach Than Smartphones, TV. With all of the press and meteoric growth of streaming, it easy to discount radio, but for sheer monthly reach, nothing beats it, according to a new chart.

Concord Buys Yet Again In Multi-Million Dollar Deal With Warner. Concord has, in the past few weeks, fully acquired a bundle of recorded music rights as part of Warner’s post-Parlophone divestment process, including the Atlantic catalogue of US Grammy-winning singer/songwriter Jewel.

Because Confirms Acquisition Of London Records Catalog. Because stands to acquire some standout London Records catalog from Warner’s post-Parlophone divestment process, including classic albums by the Happy Mondays (like Bummed, pictured), who were originally signed to Factory Records.

Digest: Soundcloud Loses Two Top Execs, Grammys Recap, Songwriters Threaten To Sue DOJ

Posted by Glen Sears | February 13, 2017 9:54 am | No Comments

SoundCloud Ltd. Co-Founders Unveil U.K. Subscription Service

Top Story Last Week

A Month After Posting Heavy Losses, SoundCloud Loses Two Top Execs
The news comes five weeks after the Berlin-based company filed a fiscal report for 2015 showing annual revenues up 21.6% to €21.1m ($22m), but net losses accelerating 30.9% to €51.22m ($52m). SoundCloud’s co-founder Alexander Ljung noted in the filing that the company may “run out of cash” before the end of 2017 if it cannot secure further financing.

In reaction to Strigel and Harder’s departure, a SoundCloud spokesperson told the Financial Times: “After five or so years, they felt it was time to move on to new adventures.”

Read the full story on Music Business Worldwide.

Other Music News Highlights

Grammys 2017 Review: Adele, Tribe and Beyonce Make it an Award Show to Remember. “Such an ending only amplifies the unusual amount of raw feeling produced by the entirety of this year’s Grammys — the excitement, the righteous fury, even the brief moments of humiliation which made these ceremonies so gripping.”

Songwriters Say They Have Standing to Sue the Justice Department Over Consent Decrees. On Tuesday, plaintiffs in this case told a DC Circuit judge they have sufficient standing and concrete injuries to bring constitutional claims over the Justice Department’s latest interpretation of consent decrees stretching back decades.

Google Combines YouTube, Google Play Music Teams, Unified App Appears Likely. “Music is very important to Google and we’re evaluating how to bring together our music offerings to deliver the best possible product for our users, music partners and artists. Nothing will change for users today and we’ll provide plenty of notice before any changes are made.”

Dr. Luke Claims That Kesha Owes Him $1.3 Million in Royalties. “In December 2016 alone, Defendant received payments under her contracts with Plaintiffs in excess of $650,000 — In sharp contrast, Defendant admits that she owes Plaintiff KMI over $1.3 million in ancillary royalties that she has failed to pay.”

Universal Music Wins Battle To Manage Prince Recordings. The multi-year deal struck with the late star’s estate assigns Universal exclusive licensing rights to Prince’s NPG recordings, as well as his (reportedly considerable) vault of unreleased tracks.

For Continued Growth, Music Streaming Needs Product & Pricing Innovation. Analyst Mark Mulligan says “the next phase of the streaming market requires a more sustainable approach to pricing strategy, coupled with some serious product innovation.”

Nearly Half Of US Music Subscribers May Have Amazon Prime Music. According to Parks Associates, given estimates of 102.5m broadband households in the US at the end of 2015, that could mean upwards of 15 million households using Amazon Prime Music.

Digest: Soundcloud Is/Isn’t Running Out of Cash, SESAC Sells to Blackstone (for Maybe A Lot?)

Posted by Glen Sears | January 9, 2017 9:47 am | No Comments

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Top Story This Week

SoundCloud ‘May Run Out Of Cash This Year’ As It Posts $54M Loss
SoundCloud’s losses grew faster than its revenues in 2015 – with the company now admitting that, should its subscription service flop, its funding may run dry this year, according to a new filing at Companies House (UK).

“The assumption of a successful launch of the new subscription service is the key element of [our] financial projections for the next three years… [This] bears financial risks regarding the operating results and cash flows of the group. The occurrence of these risks can seriously affect the ability of the group to generate sufficient cash to cover the planned expenditures and could require the Group to raise additional funds which have not yet been agreed.”

Read the full story on Music Business Worldwide

Other Music News Highlights

SoundCloud Responds To Cash Crunch Claims. In a statement, Soundcloud told journalists: “We are on a very positive path to achieving our aim of enabling all creators to be paid for their work, while also building a financially sustainable platform where our connected community of creators, listeners and curators can continue to thrive.”

Blackstone to Acquire Music Rights Organization SESAC. Financial terms of the deal have not been disclosed, but this marks Blackstone’s first step in a new strategy to hold onto private investments longer than most equity firms, a point highlighted by SESAC CEO John Josephson in the announcement.

Was Blackstone’s SESAC Acquisition a $1 Billion Deal? Ed Christman looks at the tea leaves in the Blackstone/SESAC acquisition that “might well be $1 billion deal,” including company financials and Wall Street reports.

BMI Files Action Against RMLC Over Royalty Rate Proposal. “The RMLC can point to no changed circumstances that warrant a reduction in BMI’s interim or final rate,” the BMI filing states. “BMI believes that the market developments will support a final rate of greater than 1.7 percent of gross revenue payable to BMI.”

BMG Responds To Appeal In Cox Communications Dispute. “Cox claims that BMG’s notices are ‘littered with flaws’, but Cox was able to identify errors in a tiny handful of the 1.8 million BMG notices at issue — the evidence showed that Rightscorp’s system was ‘well over 99%’ accurate.”

SiriusXM Ends 2016 With More Than 31 Million Subscribers. The company also said that it expects to meet or exceed its 2016 guidance for revenue, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), as well as free cash flow when it reports its full financials next month.

All Three Major Labels, Pandora and RIAA Announce Support for Hi-Res Audio Streaming. The announcement came during, and from, the 50th Consumer Electronics Show in Las Vegas where the DEG sponsored a hi-res “Audio Pavilion.” The exhibition manifested its “Stream the Studio” message with a fully-equipped world-class recording facility filled with hi-res devices and showcasing a series of live demo sessions with award-winning engineers.

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RECAP: GEMA & YouTube Reach Deal, YouTube Red Struggles, Napster & Spotify Expand

Posted by Glen Sears | November 7, 2016 9:39 am | No Comments

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GEMA Finally Loosens Its Grip on YouTube in Germany

Story of the Week
It’s been one of the biggest stand-offs in digital music history – but YouTube and German collection society GEMA have finally reached a licensing agreement. The deal means that scores of previously unlicensed – and therefore previously unavailable – music videos will now be playable in the region.

YouTube’s Head of International Music Partnerships, Christophe Muller said: “We’re committed to ensuring that writers, composers and publishers continue to be paid fairly, and that our users are able to enjoy their favorite songs and discover new music on the platform.
Read the details of the deal on Music Business Worldwide.

Top Music News Stories

Report Claims 1.5m Paying Subscribers For YouTube Red. The Verge claims, “According to multiple sources with knowledge of the situation, YouTube Red had 1.5 million paying subscribers as of late summer, with another 1 million users signed up on a trial basis.”

Vimeo to Begin Offering Subscription Video Services. The company, which has long made money off of its premium subscription for video creators, now wants to create a consumer-facing subscription business.

Pan-European Licensing Hub ICE Signs Deal With SoundCloud. The deal follows a licensing agreement between SoundCloud and U.K. collecting society PRS for Music in December last year that brought an end to PRS’ suit against the Berlin-based startup over unpaid royalties.

Sony Sees Music Revenues Jump Thanks to Streaming. The company also writes that its acquisition of the other half of Sony/ATV from Michael Jackson’s estate was finalized last month, (September), for which it paid $750 million.

Napster Announces a Slate of Partnerships to Inflate Its User Base. The streaming service laid out its plans for partnering with Sprint, Virgin Mobile, airline Lufthansa, retailer Aldi, and Boost Mobile and increasing their number of monthly active users.

Spotify Acquires Subscriber Analytics Firm Preact. Preact is a four-year-old startup that utilizes machine learning and audience behavior metrics via social media to draw and retain subscribers.

Is Facebook The Musicians Friend Or A Massive Infringer? In this piece from Artist Rights Watch, Chris Castle dives into what he sees as the evils of Facebook’s copyright infringement; “After making itself what seems to be a necessary evil for artists, Facebook hides in plain sight while still avoiding proper licensing and evoking the DMCA.”

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RECAP: MiDiA Research Uncovers Trove of YouTube Intelligence, Guvera Shutters in Australia, WMG & Vevo Close to Deal

Posted by Glen Sears | August 1, 2016 9:40 am | No Comments

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Story of the Week

MIDiA Takes A Deep Dive Into YouTube As A Music Business
MIDiA Research has released a report on YouTube and the video platform’s impact on the music economy. With YouTube commanding a massive audience, but still drawing criticism and skepticism from artists and labels, the report adds much-needed data to explain the service’s role.

“Safe Harbour-enabled UGC is no longer the threat it once was, with just 2% of music video views from unofficial uploads,” MIDiA Research says. That statement, backed by research detailed in the report, is an interesting contradiction of some rights-holder complaints that UGC (user-generated content), and the regulation surrounding UGC platforms, do not adequately protect artists, labels, and songwriters.

The report examines several facets of YouTube’s business, including details about the most popular videos and distinct trends in listener behaviors. It revealed that three-quarters of music video views happen through official sources, and a further 76% of those are uploads from distributor Vevo. It also found that audience behaviors are quite sophisticated, with sizable listener groups only listening to the audio or navigating directly to an artist’s channel.

Read the full story on RAIN News

Top Music News Stories

Warner Music Group and Vevo Close to Reaching Content Deal. For Warner Music Group, this comes in a year when the company seems to be focusing its efforts in making more licensing deals, having partnered with Facebook, and signing a deal with social video sharing app musical.ly to let its music be licensed for the platform.

Canadian Music Industry Reaches $66M Settlement With Piracy Site isoHunt. The court found that isoHunt and Fung were liable for $55 million in damages and an additional $10 million in punitive damages, plus another million in court costs.

SOCAN And Audiam Talk Tech, Streaming And 21st-Century PROs. It’s unusual to see a PRO acquiring a music/tech company, let alone two in quick succession; Music Ally spoke to SOCAN chief executive Eric Baptiste and Audiam boss Jeff Price [paywall] to explore its strategy.

Troubled Music Streaming Startup Guvera Closes Up Shop in Australia. “Born and launched into Australia in 2008, we have had the best time bringing all the latest tunes to the ears of our listeners here; unfortunately, and with a heavy heart, the time has come to pull back from our operations in the country.”

SoundCloud Is For Sale, But They’re Having Trouble Finding A Buyer. In June, SoundCloud raised $70 million from Twitter in a $100 million funding round at reported valuation of $700 million — now Soundcloud is for sale.

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RECAP: Artists Petition Against DMCA, Apple Slams YouTube, TuneCore & SOCAN Deliver Huge Payments

Posted by Glen Sears | June 20, 2016 9:30 am | No Comments

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Story of the Week

Taylor Swift, Paul McCartney Among 180 Artists Signing Petition For Digital Copyright Reform
In an ad that will run Tuesday through Thursday in the Washington DC magazines Politico, The Hill, and Roll Call, 180 performers and songwriters are calling for reform of the Digital Millennium Copyright Act, which regulates copyright online. A range of big names from every genre signed the ad — from Taylor Swift to Sir Paul McCartney, Vince Gill to Vince Staples, Carole King to the Kings of Leon — as did 19 organizations and companies, including the major labels.

Artists are usually reluctant to get involved in copyright policy debates, but several signed an April 1 petition on the same topic. Like the petition many artists signed in 2012 against the Internet Radio Fairness act, which would have lowered online radio royalties, this represents a rare case in which most of the music business agrees on something.

Two other artists have been especially critical of YouTube. Trent Reznor, no stranger to technology given his role at Apple Music, told Billboard on June 13 that YouTube was “built on the backs of free, stolen content.” Nikki Sixx’ band Sixx:A.M. also wrote a detailed open letter to YouTube, appealing to Larry Page, chief executive of Google’s parent company Alphabet, to better compensate musicians. Last week, YouTube responded, in a statement to Music Business Worldwide that said “the voices of the artists are being heard.”

Read the entire story on Billboard.

Top Music News Stories

Apple Says YouTube Is “Built On the Backs of Free, Stolen Content.” “Personally, I find YouTube’s business to be very disingenuous. It is built on the backs of free, stolen content and that’s how they got that big. I think any free-tiered service is not fair. It’s making their numbers and getting them a big IPO and it is built on the back of my work and that of my peers. That’s how I feel about it. Strongly.”

Why Apple Music Matters So Much To Apple. Apple is building a new narrative for Wall Street that focuses on the revenue it generates from its existing customer base (in order to distract attention from slowing device sales). Apple Music is the proof of concept. If it gets Apple Music right it will demonstrate its ability to deliver on best-in-class digital services.

Twitter Makes A Massive $70 Million Investment In SoundCloud. Both companies could use some help—Twitter has been punished by Wall Street for its inability to add users at a rapid clip; SoundCloud’s flat valuation indicates that investors are also worried about its own growth prospects.

Rhapsody Rebrands As Napster But Promises ‘No Changes.’ “No changes to your playlists, favorites, albums, and artists. Same music. Same service. Same price. 100% the music you love. Stay tuned!

Guvera $75M IPO Blocked By ASX, Future Of Music Streamer In Doubt. In an almost unprecedented move, the Australian Securities Exchange (ASX) has rejected a $75 million IPO by international music streamer Guvera just one day after its was approved by the Australian Securities and Investments Commission.

Federal Court Upholds FCC’s Net Neutrality Rules. The 2-1 ruling from the U.S. Court of Appeals for the District of Columbia Circuit is a win for the Obama administration, consumer groups, and content companies such as Netflix that want to prevent online content from being blocked or channeled into fast and slow lanes.

SOCAN Reports Record Figures For Canadian Creators In 2015. The PRO brought in $307.8 million in total domestic and international royalties, the first time in its history exceeding $300 million in total revenues from the performance of the music of its more than 135,000 songwriter, composer and music publisher members.

TuneCore Artists Earned $42 Million Last Quarter, Up 16%. Revenue from music streaming services like Spotify, TIDAL, Deezer and Rhaposdy has grown significantly, according to the digital music distributor.

RIAA Writes to Judge About Controversial Ruling Over Remastered Sound Recordings. Despite the view that the RIAA might find the remastered ruling beneficial — some have even argued that remastered albums might allow record companies to avoid copyright termination — the recording industry’s top trade group appears to be siding with ABS in this fight.

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Recap: IFPI 2016 Global Music Report, Soundcloud Hits Europe, Facebook Tackles ‘Freebooting’

Posted by Glen Sears | April 18, 2016 9:44 am | No Comments

IFPI releases its 2016 Global Music Report

Story of the Week

IFPI 2016 Global Music Report: Digital Revenues Surpass Physical for the First Time
The global recorded music business reached an important tipping point in 2015: Digital services now account for 45 percent of recorded music revenue and outstripped physical revenue for the first time, according to numbers released Wednesday by the global trade body IFPI.

The global snapshot is equally positive. Low single-digit revenue growth was registered by North America (+1.4 percent) and Europe (+2.3 percent) while Asia improved 5.7 percent and Latin America rose 11.8 percent behind 80.4-percent growth in streaming revenue.

The most momentum happened with subscription services. Subscription revenue, excluding revenue from some services’ free tiers, jumped $58.9 million to $2 billion. The number of subscribers grew 66 percent to 68 million. The number of new subscribers, 27 million, was twice the 28-million subscriber gain in 2014 and over three times the growth in 2013.

Read the full story on Billboard.

Top Music News Stories

Analyst Mark Mulligan Dives Into IFPI’s GM2016 Report, Surfaces Surprising Takeaways. “Revenue was flat, downloads and physical are both still falling, streaming growth accelerated, ad supported revenue fell, and streaming ARPU is up but subscription ARPU is down.

War of Words: Labels and Trade Groups Target YouTube’s ‘Value Gap.’ Labels define this “value gap” as the difference between what YouTube actually pays and what they believe it should pay. Labels argue that safe harbor “distorts” the market by giving services leverage in negotiations.

SoundCloud and Sony/ATV Announce Licensing Deal in Europe. SoundCloud wants to take its GO paid subscription service global; and a new deal with Sony/ATV, who has had a deal with SoundCloud in the U.S. since the 2014 launch of its monetization efforts, extends the partnership to Europe.

The Launch Of SoundCloud Go Leaves Unanswered Questions. Nicole Daley, speaking about Soundcloud Go, says “although the service has interesting potential, there remain several unanswered questions regarding things like how artists will get paid, or how royalties are being calculated.”

Facebook Tackles ‘Freebooting’ With Rights Manager Tool. The social media giant has launched Rights Manager, an admin tool which is intended to curb the dubious practice where Business Pages and celebs can rip videos from elsewhere, repost the copyrighted content on Facebook and grow their brands while robbing the content creators of views.

CÜR Media Raises $2M To Pay Labels, Launch Streaming Service Aimed At Casual Music Fans. CÜR Media has announced the completion of $2 million in financing led by Intuitive Venture Partners and Katalyst Securities. CÜR Music, currently in public beta, is a streaming music service aimed at more casual music fans with tiers beginning at $1.99 per month after a 14-day free trial.

ASACP Sues 10 Venues That Refuse To Pay To Use Music. Over the past two years, and in many cases longer, ASCAP says it made numerous attempts to offer to license these venues and educate the owners about their obligations under federal law.

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Recap: Soundcloud Goes Premium, TIDAL Sues Previous Owner, UMPG Abandons ASCAP

Posted by Glen Sears | April 4, 2016 9:47 am | No Comments

Soundcloud Go Music Recap Soundcheck Medianet

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.

Read the full story on Music Ally.

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.

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Recap: Pandora Founder Back as CEO, RIAA Releases 2015 Industry Numbers, YouTube Monetization Explained

Posted by Glen Sears | March 28, 2016 10:38 am | No Comments

Pandora CEO

Story of the Week

Pandora Names Founder Tim Westergren CEO As Part Of Broad Executive Restructuring
Brian McAndrews is out and founder Tim Westergren is in, as the CEO of Pandora, effective immediately. The move is part of a broader restructuring at Pandora, aimed at restoring investor confidence and in anticipation of a possible future sale. Tim Westergren has long been the public face of Pandora, preaching his Music Genome gospel to literally anyone who would listen. Pushed aside in the board room as the company grew and went public, Westergren is now back in charge as Pandora’s new CEO—which is likely great news for artists.

A former touring musician, Tim Westergren has always been a champion of Pandora’s efforts to provide artist data and marketing opportunities. “I am incredibly excited about the future of Pandora. We’re on the cusp of realizing an extraordinary vision: fundamentally changing the way listeners discover and enjoy music, and the way artists build and sustain their careers,” said Westergren. “We are pursuing a once-in-a-generation opportunity to create a massive, vibrant music marketplace. We have the audience, the technology infrastructure, the monetization engine and most importantly the right team with the passion and commitment to do it.”

Current independent member Jim Feuille is Chairman of the Board. “Tim is the ideal CEO for Pandora as we embark on our next phase of growth,” he said in a statement. “As the original founder, Tim carries the vision for how Pandora can transform the music industry and he is uniquely able to connect with listeners, music makers and employees.”

Read more on Hypebot…

Top Music News Headlines

U.S. Recording Industry Sees Slight Uptick in Revenue Last Year, Streaming Dominates Digital. The 2015 numbers, released last week by the RIAA, arrive bearing both good and bad news for the players in the digital music space.

Vinyl Sales Made More Than YouTube, Spotify and Soundcloud Ads Combined… RIAA figures revealed that vinyl sales made $416 million, while the combined total ad revenue from streaming sites Soundcloud, Spotify and YouTube accounted for only $385 million.

…But Vinyl Sales May Not Have Made More Than Streaming. The RIAA’s vinyl revenue number is based on gross retail sales, but the ad supported streaming revenue number it is compared to is only the net amount paid to labels.

Cracker Barrel Joins the Vinyl ‘Revolution.’ The Southern-themed retailer and roadside restaurant chain with a long track record in country, bluegrass, and faith-based CD sales has officially entered the still-booming vinyl market for the first time, with an exclusive numbered collector’s edition of country duo Joey & Rory’s Hymns That Are Important To Us.

“The Music Industry Finds Itself Fighting Over Pennies While Waving Goodbye To Dollars.” [CHART] A New York Times analysis of the statistics shared this week by the RIAA leads to a sobering conclusion: “…the big sales numbers that have sustained the recorded music business for years are way down, and it is hard to see how they could ever return to where they were even a decade ago.”

Where’s The Money? YouTube Revenues Explained. Chris Castle clears the fog surrounding how revenue from YouTube uploads is determined, as well as how the video sharing site’s content management system functions—and whether or not monetization is the best choice for you.

SoundCloud’s Next Move Will Change the Streaming Game (Again). “It’s a very organic, user-friendly ­experience that’s really social,” says a major-label executive who has seen a ­demonstration that includes the paid tier. “It’s true to the way SoundCloud works now.”

BandsInTown and Ticketmaster Debut In-App Ticket Purchases. With the likes of Pandora and Spotify thinking hard about how ticketing fits in to their businesses, startups like Dice iterating rapidly, and Songkick planning big things after its merger with CrowdSurge, it’s an encouraging time for the live market.

Grant Bussinger Claims We Need An Open Source Music Industry. Warped Records’ Head of Digital claims “There is as an opportunity to leverage the same resources and adopt the same guiding principles that have seen success everywhere else.”

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Recent posts

SoundCloud Rescued and Installs New CEO, TIDAL Names New CEO Too, Amazon Eyes U.S. Ticketing
August 14, 2017
SoundCloud Speculation Continues, Apple Courting Indian Music Company, Sony Music Has Huge Q1
August 7, 2017
SoundCloud May Have New Equity Deals, YouTube Red Merging with Google Play, SESAC Strikes U.S. Radio Deal
July 31, 2017

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