From UMG’s $1m an hour, to Paul McCartney’s music streaming crusade: It’s MBW’s Weekly Round-up

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Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make sure that you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.If you wish to know the way wholesome the music rights enterprise is right this moment, know this:Common Music Group generated greater than $1 million in income each hour within the first quarter of this yr.Vivendi revealed UMG’s Q1 outcomes this week, revealing that the music firm generated $2.2 billion throughout recorded music, publishing, and different earnings streams.Vivendi additionally revealed that it expects UMG will likely be going public in Amsterdam in “the autumn” of 2021.In the meantime, a letter despatched this week to the British authorities, co-signed by the likes of Paul McCartney, Led Zeppelin, Sting, Chris Martin and Stevie Nicks, has referred to as for artists to be paid otherwise from “lean again” streaming performs within the UK.The previous 5 days have additionally seen Sony Music reward Apple‘s new Podcasts Subscriptions, whereas Songtradr acquired Pretzel, a platform that gives DMCA-proof music for Twitch and YouTube livestreamers.Right here’s a recap of what occurred…1) UNIVERSAL MUSIC GROUP GENERATED OVER $1M PER HOUR IN Q1… AND EXPECTS TO GO PUBLIC IN THE FALLUniversal Music Group’s Q1 outcomes are out, courtesy of its majority-parent, Vivendi – which yesterday (April 22) mentioned it expects UMG will likely be going public in Amsterdam in “the autumn” of 2021.For now, let’s persist with the primary three months of this yr… one other spectacular interval for UMG and its CEO and Chairman, Sir Lucian Grainge.Based on Vivendi’s outcomes, Common Music Group’s whole revenues – together with recorded music, publishing and different earnings streams – hit €1.81bn ($2.20bn) in Q1, up 9.4% year-on-year.Simply because we all know MBW readers dig these stats: That $2.20bn quarterly turnover was equal to $24.5m a day, or… yep… simply over $1m an hour, throughout the expanse of Q1.2) Why are Paul McCartney, Led Zeppelin, Sting, Chris Martin and Stevie Nicks demanding the UK authorities ‘fixes streaming’?As you’re most likely conscious, a UK Parliamentary Inquiry is presently wanting into the economics of music streaming in Britain.One of many proposals they’re chewing over is whether or not algorithmic performs on the likes of Spotify (i.e. performs which were chosen for you, versus these on which you’ve pressed play) must be handled beneath the identical guidelines as “equitable remuneration” on radio within the UK. Ergo: Whether or not 50% of the cash generated by these “lean-back” performs ought to go direct to artists, irrespective of how unrecouped they may be over in Document Label Land.Unsurprisingly, report labels aren’t too eager on this concept – and artists are very eager on this concept.So right here’s the large information this week: the stature of the artists calling for the UK authorities to implement “equitable remuneration” on streaming providers simply went blockbuster.Nikki Meel / Shutterstock3) APPLE MUSIC JUST MADE A LOT OF CLAIMS ABOUT WHAT IT PAYS ARTISTS. LET’S TAKE A CLOSER LOOK.Apple Music precipitated furore final Friday (April 16) when it made some proud claims about its payouts to artists and songwriters – and, by affiliation, some probably damning claims about Spotify‘s equal distributions.These claims all appeared in an e-mail publication despatched by Apple to the trade and artist group. This article has now been obtained by MBW and is re-published beneath.Apple doesn’t explicitly point out Spotify in any respect within the letter, though you wouldn’t guess it from the next media protection.That’s very true of sure headlines related to the next assertion from Apple: “Our common per play price is $0.01.”4) SONY MUSIC APPLAUDS APPLE’S NEW PODCAST SUBSCRIPTION LAUNCHSpotify, which has been pouring lots of of hundreds of thousands of {dollars} into podcasting over the previous few years, despatched out a person survey in November indicating that it was mulling the launch of a standalone podcast subscription service.Apple simply beat Spotify to it. This week, the tech big unveiled Apple Podcasts Subscriptions, which it describes as “a world market for listeners to find premium subscriptions supplied by their favourite creators alongside hundreds of thousands of free reveals on Apple Podcasts”.Apple’s official launch asserting the information consists of quotes from executives of assorted media and leisure manufacturers hailing the launch of the brand new service.A few of these corporations embrace Tenderfoot TV, Pushkin Industries, Radiotopia from PRX, QCODE, NPR, the Los Angeles Instances and The Athletic.Dennis Kooker, President of International Digital Enterprise and US Gross sales at Sony Music Leisure, is amongst them.5) SONGTRADR ACQUIRES PRETZEL, WHICH PROVIDES DMCA-PROOF MUSIC FOR TWITCH AND YOUTUBE LIVESTREAMERSWho would be the fastest-growing music firm of 2021? Don’t depend out Songtradr.Up to now six months alone, the Los Angeles-headquartered firm – which dubs itself “the world’s largest B2B music licensing market” – has acquired the likes of music and sound design agency Music Zu (in a multi-million greenback deal), in addition to UK-based sync licensing enterprise Cuesongs.As well as, Songtradr, which raised $30 million in a Sequence C spherical final summer time, lately launched a brand new brand-facing division, Vinyl By Songtradr, beneath the management of ex-UMG exec Mike Tunnicliffe, and ex-Coca Cola exec Joe Belliotti.This week introduced extra massive information from Songtradr, by way of an acquisition that takes it right into a rapidly-expanding space of the fashionable music enterprise.Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure to caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.Music Enterprise Worldwide

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