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Pandora CEO May Be Stepping Down, Apple Music Wants Lower Royalty Payments, TuneCore Nears $1B Revenue

Posted by Glen Sears | June 26, 2017 10:56 am | No Comments

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Story of the Week

Pandora CEO Tim Westergren May Be Stepping Down, According to a New Report
According to Recode, Pandora hasn’t selected a replacement for Westergren, sources say; he will likely stay on at the company he founded 17 years ago until a new CEO is in place.

Top Music News Highlights

Pandora [P] Stock Up On Report Of CEO Westergren’s Exit. Wall Street seemed to approve of the potential changes at Pandora, with Pandora stock up 2.78% to $8.51 by mid-day trading.

Apple Wants To Reduce Royalty Rate It Pays Record Labels. According to a report from Bloomberg, the Cupertino giant’s long-term licensing deals with the labels for both Apple Music and iTunes are due to expire at the end of this month.

TuneCore Artists Nearing $1 Billion in Revenue. The company said that as of May 31, artists have earned more than $920 million on the strength of over 75 billion streams and downloads.

Elon Musk’s Tesla Looks Set To Launch Its Own Music Streaming Service. Tesla is reportedly looking at launching multiple tiers of pricing, starting with a ‘Pandora-like web radio offering’.

The BPI Has Now Sent 312M Takedowns To Google. In the last month alone, the BPI has requested 11.2m URLs to be removed from Google’s public search listings, with Google’s transparency report revealing that 99.8% of URLS reported by the body are ultimately removed.

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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Tuncore Bats for NMPA, PRS and WMG Win Big, The War on YouTube Continues

Posted by Glen Sears | May 9, 2016 10:05 am | No Comments

Several American Dollars ripped or torn in half symbolizing the

Story of the Week

TuneCore Encourages Members To Opt-In To $25M Spotify NMPA Settement, Artist Advocates Cry Foul
Spotify and the NMPA are contacting artists and publishers encouraging them to sign on to the $25 million settlement they negotiated over unreported and unpaid royalties for unlicensed streams. This week, TuneCore reached out to the artists using their music publishing platform encouraging them to opt-in.

TuneCore sent an email this week to the tens of thousands of independent songwriters that use its Publishing Administration services, encouraging them to opt-in to a $25 million settlement with Spotify over the use of unlicensed tracks negotiated by the NMPA. The email has drawn fire from artists advocates including former TuneCore CEO and founder Jeff Price and musician David Lowery, who has filed a lawsuit against Spotify.

Musician and outspoken industry critic David Lowery, who has filed a lawsuit against Spotify and is seeking class action status to include other artists and publishers, is equally incensed.

Read the full story on Hypebot.

Top Music News Stories

PRS for Music Reports Record Revenues for 2015, Leaders Chide the ‘Value Gap.’ “It’s been an exceptional year for us, revenue was up in all our main revenue streams — online, international, public performance and broadcast — and the growth strategy that we have been pursuing for a number of years is now really beginning to pay off.”

Digital Music Firm Omnifone Placed Into Administration. B2B digital-music firm Omnifone has been placed into administration, resulting in the layoff of up to 70 staff as it seeks a buyer for the company’s technology assets—it is unclear at the present time what the administration means for their services.

Streaming Now Top Recorded Revenue Source for Warner Music. The label group’s streaming income has now overtaken both its physical revenues and its downloads sales – streaming actually overhauled the latter in the first quarter of 2015, so a year later it has now also surpassed physical.


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Old Music Is Selling More Than New Music. Nielsen’s latest music report is out and, as always, it’s very revealing about what we listen to in the U.S. Perhaps it’s biggest revelation is that, for the first time, old music (known as catalog sales) outsold new music in 2015.

Apple Music Reportedly Set for Major Overhaul. Apple is planning sweeping changes to its year-old music streaming service after the first iteration of the product was met with tepid reviews and several executives brought in to revive the company’s music strategy departed.

‘It’s a System That Is Rigged Against the Artists’: The War Against YouTube. Most label executives aren’t ­expecting YouTube to have a change of heart — they’re trying to change the law under which it operates.

vKontakte Launches A (Licensed!) Music-Streaming AppThe company has courted controversy – and lawsuits – within the music industry in the past with the widespread availability of user-uploaded copyrighted music on its platform — however, having signed agreements with Sony Music and Warner Music as well as some Russian publishers, vKontakte is trying to go legit.

Our best wishes for a great week! – MediaNet

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Have questions about how Medianet can help your digital music business? Ask us here. Want a topic or insight published on this blog? Ask us here. Other questions or comments? Let us know!

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