Each week Songspace recaps the top stories in the world of music business. Here’s everything you need to know from the week ending on July 11th.
Sony/ATV and the PROs
In the midst of licensing debates, Sony/ATV Publishing has threatened to remove their catalogs from BMI and ASCAP, the Performance Rights Organizations that administer Sony’s catalog. Martin N. Bandier, Sony/ATV’s chairman recently sent a letter to thousands of Sony/ATV writers, citing challenges the publishing industry faces, including publisher’s frustration with streaming royalties, which heavily favor artists and labels over songwriters. Without changes, Sony wants to discontinue working with the PROs in favor of negotiating their own rates. As publishers push to withhold certain licenses, both Universal and Sony are moving their catalogs online, lessening their PRO attachment. Sony/ATV represents artists like Taylor Swift, Ray Charles, Bruno Mars and The White Stripes.
MIDiA predicts Global “Shift to the Consumption Era" in 2014-2019
As most in the industry know, recorded music revenue has declined for the last 10-15 years, but research company MIDiA’s recent music revenue report uncovered a possible change. Their study forecasts that music revenue, in spite of declining over the next four years, will increase starting in 2018. With more streaming customers and continued download purchases, the MIDiA’s predicts the market will tip in a positive direction. However, it is unlikely that this improvement will push the market back to its unprecedented peak of the 90s. The report names a number of factors that could cause inconsistencies in their prognosis including piracy, individual spending, GDP, and technology accessibility.
Bop.fm Raises Seed Round
Bop.fm recently raised $2 million in their attempt to harmonize the wide variety of streaming sites. Their service allows users to share their playlists across platforms by detecting users’ priority music streaming system. The site includes recordings from Beats, Spotify, Rdio, SoundCloud, YouTube, and Deeza but does not actually host the songs to avoid licensing problems. Artists are also joining the site as a way to reach audience across different platforms.
Written by Jesse Feister and compiled by Sydney Mathieu.