YouTube & ASCAP Announce Landmark Data Sharing Agreement, SOCAN Beats Royalty Records, Believe Digital Seeking Sale
Posted by Glen Sears | June 19, 2017 8:58 am | No Comments
Story of the Week
YouTube, ASCAP to Share Data in First-Ever Voluntary Deal
In what is the performance rights group’s first-ever fully-negotiated, voluntary licensing deal with the decade-old video hub not prompted by a rate-court proceeding, ASCAP will combine its database of 10.5 million musical works with YouTube’s data exchange, a move that ASCAP’s CEO Elizabeth Matthews says will result in bigger payouts.
Other Music News Highlights
Canada’s SOCAN Collected Record-Setting $249M In Royalties For 2016. The PRO said it recorded “new highs on almost every front,” with nearly 4,500 businesses that use music became “licensed to play” with SOCAN and 6,500 additional songwriters, composers and music publishers signed up for membership.
Merlin Deals Paying Out The Equivalent Of Nearly $1M A Day To Independent Labels. Before the end of March, Merlin’s admin fee for these members was 2% of total revenues – it proudly reduced this to 1.5% in April – suggesting its total collections in the 2016/2017 period stood at around $360M.
Believe Digital Actively Seeks Sale, Major Players Show Interest. Global independent distributor, label services provider, and TuneCore owner Believe Digital is for sale, sources tell Hypebot, and a two to three week deadline has been set for initial bids.
Sony/ATV’s Martin Bandier Calls on Spotify, Apple Music, And YouTube To Credit Songwriters. While he acknowledged that songwriters and publishers are beginning to benefit from the uptick in revenues with the rise of streaming, he was quick to note that “songwriters and music publishers, while we’re headed in the right direction, the fruits of our labor are not being equitably rewarded and we are not benefiting from the streaming revolution as meaningfully as we should.”
Spotify Revenues Hit $3.3B In 2016 – But Net Losses Soared To $597M. The streaming giant’s revenues saw healthy growth of 52%, but the ongoing cost of debt and widening operations costs ballooned its net losses over 133%.
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