RECAP: U.S. Publishers In Uproar Against DOJ Consent Decree Ruling, EU Privacy Shield, Streaming Nets Labels $15M Daily
Posted by Glen Sears | August 8, 2016 9:42 am | No Comments
Story of the Week
U.S. Publishing Industry in Uproar Over DOJ Licensing Plans
The Justice Department announced on Thursday that it had concluded a two-year investigation into the complex world of music licensing and decided against making changes to the regulatory agreements that govern Ascap and BMI, two large clearinghouses for performing rights that process about $2 billion in royalty payments each year.
The DOJ also added a new requirement, saying that for Ascap and BMI to comply with the existing regulations, they must offer “100 percent licensing” of their songs. Since then, members of the publishing community have been having their say, and it should not surprise you to hear that they are pretty much 100% against the plans – with many questioning the motivation behind the DoJ’s move.
“Where will this consistent erosion and undermining of the fundamental rights of authors and composers end? How is it that policy makers, on both sides of the Atlantic, have put themselves in the business of making decisions that are disastrous for the music community, but curiously beneficial for others?” is how IMPF president Pierre Mossiat put it in a statement condemning the plans.
Top Music News Stories
An Alternative View Of The DoJ’s ASCAP/BMI Consent Decree Review. “When the Department says that the PROs are required to offer 100% licensing, it conforms to the default rule of copyright law: so long as one author agrees to let a PRO license their work, the PRO has permission to license the whole work to users.”
European Regulators Greenlight Sony/ATV & Jackson estate Deal. “The transaction will not materially increase Sony’s market power vis-a-vis digital music providers compared to the situation prior to the merger,” Reuters reports an EU competition enforcer as saying of the approval.
Joint EU, U.S. Digital Privacy Shield Comes Into Effect. The “EU-U.S. Privacy Shield” ensures that everyone in the European Union has rights when their data is processed, such as the right to ask a company for information about the data they hold about them on U.S. servers, or to amend their records if the data are outdated or inaccurate.
Warner Music Group And Vevo Reach Deal After 7 Year Impasse. The deal does not extend to Vevo on YouTube, but is part of an extensive reboot for Vevo, including a redesign and new initiatives in programming and branding.
Lenders Crush Sillerman’s Plan To Pull SFX From Bankruptcy. Bob Sillerman’s plan to emerge from bankruptcy and retain some of his SFX assets was foiled by the same lenders he originally dealt with to finance the company, after they filed a new restructuring agreement with dramatically different – and significantly less favorable – terms.
Every Day Major Music Companies Earn $10M Millon, Indies $5 Million In Streaming Revenue. With average payments hovering around $.00575 per play, its easily arguable that Spotify, Apple Music, and others are not returning sufficient revenue to creators, but in aggregate streaming has become a major source of revenue for independent and major labels.
US and Swiss Collection Societies Partner to Form ‘Mint.’ SESAC Holdings, the U.S. company that owns the collecting society SESAC and the Harry Fox Agency, is launching a joint venture with SUISA, the Swiss collecting society.
Our best wishes for a great week! – MediaNet
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