Leading music industry headlines
Oi legends, check out what’s been stirring up the music scene this week — and truly, it’s been quite the ride.
- Concord’s major acquisition – The US indie powerhouse has officially secured the publishing and recorded music catalog from Downtown Music Holdings. That’s upwards of 145,000 copyrights, mate. Safe to say, Concord’s stepping up its game, and Downtown’s fully pivoting to artist services. A significant upheaval for the indie landscape.
- Spotify’s subscription increase – The streaming titan is upping its subscription fees in various markets, including the US and UK. Finally, right? They believe it will direct more funds into the music sector, but we’ll have to see whether that actually reaches artists or simply vanishes in the algorithm.
- TikTok’s licensing struggles – Word has it, TikTok’s still grappling with major publishers regarding licensing agreements. Some say the short-form video behemoth isn’t compensating enough for the tracks fueling their viral hits. Fair game, right? Musicians deserve to be paid properly.
- Universal Music’s NFT initiative – UMG’s plunging deeper into the metaverse, introducing a virtual band consisting of Bored Ape Yacht Club avatars. Wild stuff. This could lead to the future, or just be another fad. Either way, they’re serious about web3.
- Songwriter rights in the spotlight – The Ivors Academy and the Music Rights Awareness Foundation are collaborating to launch The Credits Due campaign. The aim? Ensure songwriters receive proper acknowledgment and payment. It’s about time. We’ve all heard those songs where the writer’s name hardly makes it to the credits.
That’s the major news for this week — significant moves, daring actions, and a few ripples that could evolve into big waves. Stay tuned, and keep your ears open.
Major label developments
Alright, hang tight — the majors have been active this week, and it’s not all swim trunks and barbecues. Big news emerged from Warner Music Group, who just made a deal to acquire the complete recorded music catalog of 300 Entertainment. Yep, that includes acts like Megan Thee Stallion, so Warner’s definitely beefing up its roster. Rumor has it the deal’s valued around $400 million — not exactly pocket change, eh?
Meanwhile, Sony Music’s been on a signing frenzy, securing global collaborations with several emerging talents from Latin America and Southeast Asia. Looks like they’re casting a wider net, pursuing talent globally with an eye on new markets. Gotta admit, it’s a clever move — the next worldwide hit could very well emerge from Jakarta or Medellín instead of LA or London.
Universal Music Group is making significant strides too, launching their own accelerator initiative for music tech startups — think AI, blockchain, and all that jazz. It’s dubbed the UMG Accelerator Engagement Network, and it’s designed to provide startups with a boost while keeping UMG closely linked to cutting-edge developments. Quite shrewd, if you ask me. They’re not merely catching up — they aim to be the first to ride the next technological wave.
And in a development that’s got indie artists giving the majors a wary glance again, reports have emerged that some labels are tightening their streaming bonus provisions, particularly in Europe. Translation? Greater control over when and how extra royalties are disbursed. A bit of a murky tide to navigate, that one — could lead to a wipeout for artists if transparency doesn’t improve.
“The major labels might be paddling hard to stay ahead, but the tide’s always changing. If you’re not monitoring the horizon, you’ll miss the next wave.”
So whether you’re signed, unsigned, or just riding the scene, it’s wise to keep an eye on these label maneuvers — they’re not just shifting sand, they’re molding the entire shoreline.