The Music Modernization Act has passed by unanimous consent in the Senate, an approval that marks a huge step forward towards overhauling mechanical licensing in the United States. The legislation took a risky path of hotlining, where unanimous support is required for approval. Continue Reading
SoundExchange distributed $208.7 million in sound recording performance royalties during the second quarter, bringing its 2018 distributions to date to more than $398.6 million. The performance royalty distributor had several other noteworthy activities in the period that it shared in its most recent report. Continue Reading
Tencent is slowly progressing with its plan to spin out its music branch into a standalone business that will eventually list in the United States. The latest move from the entertainment conglomerate was a filing this weekend with the Hong Kong stock exchange announcing its proposed change that would see Tencent Music Entertainment Group become a separate entity. Continue Reading
This weekend officially marked the end of an era for retailer Best Buy. The company ended its sales of compact discs on July 1, a move that was first hinted at back in February. The move is a strong reaction from the retail sector in response to the steady drop in physical music sales. Continue Reading
As we noted last week, today is rollout day for a new YouTube Music app, and two new subscription plans for ad-free, downloadable YouTube use. Click through for plan details, a gloomy forecast (not from RAIN News), and quotes from Lyor Cohen. Continue Reading
SoundExchange introduced a new tool called the Music Data Exchange. This application allows labels and publishers to share their data about music in a free database. It offers a hub for real-time metadata and data requests that could make it easier to claim ownership of a recording or composition. Continue Reading
The Music Modernization Act (MMA) has convincingly passed the U.S. House of Representatives. The pending legislation benefits the creative class of the music industry — songwriters and composers, and enjoys a remarkable degree of across-the-aisle support, both politically and in the music industry. Continue Reading
Direct-to-fan platform Bandcamp has shared its 2017 year-in-review, with some solid statistics for independent performers. Bandcamp’s results show a markedly different path than the overall music industry, and the company had some sharp words reflecting on the status quo. Continue Reading
Two big box retailers are changing their policies when it comes to sales of CDs in moves that could further dampen sales of the format. Best Buy told suppliers that it will remove CDs from its stores completely beginning July 1. Target is pushing for a new sales model that places the financial burden on labels. Continue Reading
A few major labels (Sony, Warner, Capitol and others) are reportedly suing Fit Radio, an app which streams music for workout routines, and provides cardio coaching. The app has been downloaded a million times from the Android store. The plaintiffs say its fitness music is being used without a proper license. Continue Reading
Stream ripping has been at the forefront of music piracy for a few years now, and it continues to be a concern for the industry. The practice was a focus in the 2017 Notorious Markets List from the Office of the United States Trade Representative. The report has placed a focus on digital piracy in recent years, and stream ripping was the focus in the 2016 edition. It remains a top concern in the 2017 version. Continue Reading
Warner Music Group (WMG) is reportedly attempting to ease 130 employees out of the company, offering them buyouts. According to Billboard, those staffers “deal with physical product,” which probably means the CD part of Warner’s business. The action is targeted within WEA, the distribution, marketing and sales division of WMG. Billboard’s sources indicate that the projected cost saving would be applied to distribution and marketing of streaming music. Continue Reading