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Sony’s Legacy label staffs for streaming

As the latest research will confirm, streaming is the dominating force for music industry revenue. That shift has led to changes in how labels and music companies dedicate their resources. Sony’s Legacy label is the latest to embark on its own digital transition. Legacy focuses on the catalog business, which includes digital remastering old recordings and producing other reissues. Continue Reading

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Merlin finds streaming music is increasing international revenue for indie labels

Independent label network Merlin has seen its earnings from Latin America increase five-fold in the past three years. Based on current growth rates, Merlin’s 2018 revenue from Latin America are projected to exceed $60 million. Streaming appears to be a key driver of that international growth. Continue Reading

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Indies seek a share of major labels’ eventual Spotify stock proceeds; Sony agrees

Spotify’s latest strides toward a direct public offering has led to some speculation around how the labels that own stakes in the streaming company will distribute their windfall. But independent artists and labels are looking for more assurance that they won’t be shortchanged. Continue Reading

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YouTube and Universal Music Group reach licensing deal; Sony may be next

YouTube has signed a new licensing deal with Universal Music Group. UMG did say that the deal would lead to “growing compensation” for its artists, but neither company has disclosed details. “We’re thrilled to strengthen our partnership with Universal Music Group,” YouTube CEO Susan Wojcicki said. Continue Reading

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Spotlight on China: How long will Tencent stay in control?

China is in position to be the next center of international music deals, according to a profile in the Financial Times (paywall). The publication cited data from iResearch claiming that China could see its paid online music market grow 59% this year, reaching about 3 billion renminbi ($455 million). Tencent was responsible for 78% of the Chinese market in 2016, and that dominance has allowed the conglomerate to secure licensing and copyright deals with several of the larger western music businesses. Continue Reading