Welcome to Music Business Worldwide’s weekly digest. Here are the five biggest stories that made headlines over the past seven days. Rounding in MBW is supported in: cent tripHelping over 500 of the world’s best-selling artists maximize their earnings and reduce travel costs.
Changes spotifyThese days, subscription tiers and prices are coming fast and furious. On Monday (June 3) the company announced the following: US price increaseFor the second time in less than a year, premium individual subscription prices have increased to: $11.99 per month.
Meanwhile, Spotify has launched in the UK. ‘Music only’ tierA move signaled by the CEO Daniel Eck At the earnings call a few months ago.
The new tiers come amid a heated dispute with music publishers over Spotify reclassifying its premium tiers as “bundles” with audiobooks, thereby reducing the amount it pays in mechanical royalties in the United States.
In other music streaming news: spotify And other streamers are frustrated after the Canadian government introduced new rules requiring them to: Pays 5% of Canadian profits. It also leverages a variety of funds to support traditional radio stations as well as Canadian content creators.
Elsewhere in the digital music world, convulsion signed “First” contract With recording majors (universal music group, sony music and warner music group) as well as indie representatives MerlinIt allows DJs on the platform to legally play music on their live streams.
Finally, MBW decided to evaluate frequently raised claims. Merck Mercuriadis overpayment Hipgnosis Song Fundis an asset. We crunched the numbers and found that Hipgnosis’ catalog is actually more valuable than people think.
Here’s what happened this week…
Credit: Diego Thomazini/Shutterstock
1) SPOTIFY officially launches music-only subscription service in UK after raising US prices again.
spotify has launched a new music-only subscription tier called Basic Individual, which does not provide access to audiobooks.
The new tiers are: Only available in the UK Current and Cost £10.99 per month.
Spotify announced on Monday (June 3) that individual premium tiers will increase by $1 per month in the US. $11.99.
Spotify’s new Basic Individual (aka Music Only) tier in the UK has been quietly launched amid a fierce dispute between the music streaming platform and US music publishers over SPOT’s decision to reclassify its premium tier as a ‘bundle’ by combining music with music. Released. Audiobook…
Source: Priscilla Grant/Everett Collection/Alamy
2) HIPGNOSIS The Songs Fund’s catalog turns out to be more valuable than many people think.
2 billion 206 million.
Approximate number of music business lunches since Hipgnosis Song Fund What people suggested in 2018 Merck Mercuriadis You overpaid for the asset.
Not really… Sometimes it feels like that.
$2.26 billion According to HSF’s latest interim report, in fact, through Mercuriadis, the Hipgnosis Songs Fund’s spending on its catalog to date is in US dollars.
So Mercuriadis (via HSF’s long-time investment advisor) Hipgnosis song management) I spent too much money on HSF-owned catalogs today…
3) SONY, UNIVERSAL, WARNER, MERLIN STRIKE have signed music licensing agreements with TWITCH for DJ live streaming.
AmazonOwned live streaming platform convulsion hit what it calls “First” transaction There are several rights holders available to ensure DJs can legally play their music on live streams on the platform.
Twitch has signed deals with all three major music companies, including: universal music group, warner music group, sony musicAnd we have a ton of independent labels through: Merlin.
According to Twitch, the number of DJs streaming on the service has more than quadrupled since the start of 2020. 15,000 Part of that was being able to build and monetize a community of music fans on Twitch.”
Twitch said the new program, scheduled to launch later this year, will create DJ-specific sponsorship opportunities as well as promotional opportunities “on and off” Twitch, including placement on the Twitch homepage.
4) Warner Music Group acquires Michael Ryan-Southern from Goldman Sachs to lead global M&A
warner music group chief executive Robert Kinkle He has previously hinted that his company wants to grow its presence in various important sectors of the music business through acquisitions.
Now he has found an executive to lead the mission.
Widely Respected Executive Michael Ryan-Southern is leaving Goldman SachsJoins Warner Music Group to lead all M&A activities for a major global music company.
He will assume the newly created role of Vice President of Corporate Development at Warner starting in August.
5) Music streaming services oppose Canada’s new ‘discrimination tax’ that would require them to allocate at least 5% of their revenue to Canada.
Music streaming services are criticizing new regulations in Canada that require major streaming services to: Pay 5% of profits It is available to a variety of groups supporting Canadian content creation.
“We are deeply concerned by today’s decision to impose a discriminatory tax on music streaming services that already make significant contributions to Canadian artists and culture.” Graham DavisChairman and CEO Digital Media Association (Dima) said in a statement released on Tuesday (June 4).
“Streaming is a major revenue source and growth engine for Canadian music, benefiting the industry, creators, fans and consumers. And this is effectively a protectionist subsidy for radio.”
Among them, DiMA amazon music, apple musicand spotify…
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