Welcome to the Music Business Worldwide (MBW) Newsletter, where the biggest updates, rulings, and trends in the music world are tracked and analysed each and every week. Not only that, we also suggest free resources and other useful tips that can help budding musicians, promoters, agents and others in the industry understand the music industry as it rapidly evolves.
We understand that many of you have your own daily jobs in the music industry, busy promoting the music of various artists, and might not have enough time to keep up with what’s going on in the wider world of the music business. That’s why we’re here – to keep you in the loop and help make sure you’re up to date with industry news. The world of music business is constantly changing, so it’s important for all professionals working in the sector to stay informed.
So, every week, this newsletter aims to provide you with the biggest highlights from the industry and beyond. We’ll also regularly provide industry insights to help sharpen your knowledge and keep you ahead of the game. Read on to find out more about the latest news and trends in the music business.
Spotify Acquires Rights Agency Agency
In one of the bigger music industry deals of the past few years, Spotify recently acquired Rights Agency Agency, a company that compiles copyright and royalty data. This move will give Spotify a much bigger foothold in the music industry and may make it easier for them to negotiate better deals with labels and artists.
The acquisition will also give Spotify access to Agency Agency’s AI-driven technology, which will help the streaming service better manage copyright and royalty data. The deal is expected to strengthen Spotify’s position in the music industry and will likely bring new opportunities for the industry as a whole.
Universal Going Ahead With Ticketing Platform
Universal Music Group (UMG) has announced plans to launch a ticketing platform to compete with existing platforms like Ticketmaster and Eventbrite. The idea behind the new platform is to provide fans with direct access to tickets for live music events, as well as new content from the label’s artists.
UMG CEO Lucian Grainge said that the platform would not only make it easier for users to purchase tickets, but would also allow the company to better track sales and understand the preferences of its own customers. This platform has the potential to revolutionise the music industry and give UMG significant control over ticketing for events featuring its artists.
Tech Giants Forming Groups to Combat Music Piracy
In a bid to combat the piracy of music, some of the biggest tech companies have come together to form the Music Modernization Coalition (MMC). The MMC is made up of companies such as Spotify, Amazon, Microsoft, and Google, and hopes to develop a legislative solution to address streaming services’ payment to musicians.
The main goal of the MMC is to simplify the licensing process for streaming services, making it easier and more efficient for royalties to be paid out to creators. If the coalition is successful, artists will likely benefit from the increased transparency and efficiency in the music industry.
New Licensing Model to be Tested by Major Label
Sony Music has announced that it will be testing a new licensing model that could drastically change how artists and labels make deals with streaming services. Under the proposed model, Sony would license its catalogue of recordings to services, who would then be able to stream them as they wish. This would completely eliminate the current system of negotiating deals for individual songs, albums, or artists.
This new licensing model could potentially benefit both labels and artists, as it would reduce the amount of paperwork and negotiations that need to be done beforehand. It is only in testing stage at this point, but if the results are positive then it could drastically simplify the process of licensing music.
The music industry is constantly changing and it’s important to stay informed on the latest news and trends. Becoming knowledgeable about the industry will make it easier to stay on top of the changes and ensure your business doesn’t fall behind the competition. Take some time each week to explore different areas of the industry and learn more about how it works.
- Take Advantage of Free Resources
Education resources aren’t limited to spending money on books or attending conferences. There are plenty of free resources available online that can give you insight into the music industry. From podcasts and webinars to blogs and industry publications, there are plenty of opportunities to keep up to date with the latest news and developments. Make sure you take advantage of these free resources in order to stay informed and build your knowledge.
Networking is key to success in the music industry. Not only will it help you stay informed on the trends and news within the industry, but it can also open up new opportunities. Attend conferences and industry events, join professional groups, and grow your network to make important professional connections that could turn into valuable partnerships and collaborations.
We hope this MBW Newsletter has helped you stay up to date in the music business. Remember to take advantage of the many free resources available to stay informed and educated about the industry. Remember, networking is also key so don’t be afraid to reach out and grow your connections.
Good luck with your future in the music industry!