Welcome to Music Business World’s weekly roundup – where we make sure you catch the 5 biggest stories that have made our headlines over the past seven days. MBW’s review is supported by China Travel Servicehelping more than 500 of the world’s best-selling artists maximize their income and reduce touring costs.
change to SpotifyToday, subscription tiers and pricing are evolving fast and furiously. On Monday (June 3), the company announced US prices riseFor the second time in less than a year, the price of premium individual subscriptions has been raised to $11.99 per month.
Meanwhile, Spotify has launched in the UK “Pure music” layerthe move was a signal from the CEO Daniel Ek On an earnings call a few months ago.
The new tier comes amid a heated dispute with music publishers over Spotify’s reclassification of its Premium tier as an audiobook “bundle,” thereby reducing the amount of mechanical royalties it pays in the United States.
In other music streaming news, Spotify and other anchors are unhappy with the Canadian government’s new rules requiring them to Pay 5% of their Canadian income Provide funding to various funds that support traditional radio stations as well as Canadian content creators.
Elsewhere in the digital music world, twitch signed ‘Unprecedented’ Agreement and recording professional (universal music group, sony music and Warner Music Group), and independent representatives Merlinallowing DJs on the platform to legally play music during live broadcasts.
Finally, MBW decided to evaluate an argument that is often made: Merck Overpaid Hipgnosis Song Fundasset. We broke down the numbers and found that Hipgnosis’ catalog is actually more valuable than people think.
Here’s what happened this week…
Image source: Diego Thomazini/Shutterstock
1) After raising US prices again, Spotify officially launches music-only subscription packages in the UK
Spotify A new music-only subscription package called Basic Personal has been launched, which does not provide access to audiobooks.
The new level appears to be Only available in UK current and cost £10.99 per month.
Spotify announced on Monday (June 3) that its individual Premium plan in the United States will increase by $1 per month to $11.99.
Spotify’s new basic individual (aka music-only) tier in the UK has quietly launched, amid a battle between the music streaming platform and US music publishers over SPOT’s decision to reclassify its premium tier as a “bundle”, combining music with The music combined to spark heated debate.
2) The HIPGNOSIS Song Fund catalog is worth more than many people imagine.
Two billion, two hundred and six million.
Approximate number of music business lunches since Hipgnosis Song Fund Already in 2018, people suggested Merck Asset has been overpaid.
Not exactly…that’s how it feels sometimes.
US$2.206 billion That’s actually the dollar amount the Hipgnosis Songs Fund (via Mercuriadis) has spent on the catalog to date, according to HSF’s latest interim report.
The same goes for Mercuriadis (through HSF’s long-term investment advisor, Hipgnosis song management) The catalog HSF has today is indeed overrun…?
3) Sony, Universal, Warner and MERLIN reach DJ live music licensing agreement with TWITCH
AmazonOwn live broadcast platform twitch The so-called goal has been achieved ‘First of its kind’ deal Works with multiple rights holders to allow DJs to legally play music during live streams on the platform.
Twitch has inked deals with three major music companies, including universal music group, Warner Music Group, sony musicand a large number of independent tags Merlin.
According to Twitch, the number of DJs streaming through the service has more than quadrupled since the start of 2020 and “more than 15,000 Some of them have been able to build and monetize communities of music fans on Twitch.”
Twitch said the new program, launching later this year, will also create promotional opportunities both inside and outside Twitch, including a presence on the Twitch homepage and exclusive sponsorship opportunities for DJs…
4) Warner Music Group poached Goldman Sachs’ MICHAEL RYAN-SOUTHERN to lead global mergers and acquisitions
Warner Music Group CEO Robert Kinkel It has previously been hinted that his company is keen to expand its presence in key areas of the music business through acquisitions.
Now he has found the executive to lead the mission.
widely respected executive Michael Ryan Suthern Leaving Goldman SachsJoin Warner Music Group to lead all M&A activities for this major global music company.
At Warner, he will assume the newly created role of executive vice president of corporate development, effective August…
5) Music streaming services oppose Canada’s new “discriminatory tax” that requires them to pay 5% of their Canadian income
Music streaming services criticize a new Canadian rule that requires major streaming services Pay 5% of their income To the groups that support Canadian content creation.
“We are deeply concerned about today’s decision to impose a discriminatory tax on music streaming services that already make significant contributions to Canadian artists and culture.” Graham DavisPresident and CEO digital media association (Dima), said in a statement released on Tuesday (June 4).
“Streaming is a major revenue source and growth engine for Canadian music, benefiting the entire industry, creators, fans and consumers. This is effectively a protectionist subsidy for broadcasting.
Among them, DiMA represents Amazon Music, apple musicand Spotify…
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