Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure that you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and cut back their touring prices.
This has the potential to rapidly snowball into a serious story for the worldwide enterprise.
In that lawsuit, Epidemic Sound accuses each Fb and Instagram of internet hosting content material that has infringed the copyrights of 1000’s of Epidemic-owned tracks.
The overall damages being sought by Epidemic are “no much less” than USD $142 million.
Says Epidemic within the go well with: “Meta has refused to enter right into a license with Epidemic, regardless that Meta has executed so with many different rights holders.
“Maybe Meta is hoping to get away with it for so long as potential. Maybe Meta is hoping that it’s going to intimidate an organization like Epidemic into bowing to Meta reasonably than incurring the disruption and expense of a lawsuit. Meta is fallacious.”
That wasn’t the one story on MBW’s pages to say Epidemic Sound this week.
On Tuesday (July 19), we reported that EQT – a long-time investor in Epidemic – had acquired a minority stake in expertise company UTA.
Elsewhere, SoundCloud struck a deal to carry ‘Fan-Powered Royalties’ to Warner Music Group artists. (MBW questioned aloud if different main music firms – particularly Common Music Group – would possibly show extra of a problem to draw to the mannequin.)
Plus, MBW reported on Luminate knowledge displaying that ‘new’ music in the USA didn’t simply lose market share to ‘catalog’ music in H1 2022… it truly shrunk in recognition.
Right here’s a few of our greatest tales from the previous 5 days…
1) Epidemic Sound hits Meta with $142m lawsuit for alleged copyright infringement on Fb and Instagram
In a lawsuit filed in California on Wednesday (July 20), Epidemic Sound claimed that its authorized motion seeks “to cease the theft of music created by a whole lot of musicians, songwriters, producers and vocalists, theft occurring knowingly, deliberately and overtly by Meta on its Fb and Instagram social media platforms every day”.
Some will blame a scarcity of blockbuster data being made in the course of the pandemic. Some will blame a scarcity of emergent trendy superstars. And a few (hello Merck!) will blame the truth that younger individuals – as evinced by Kate Bush’s present world-beating recognition – are merely having fun with ‘previous’ music as if it have been ‘new’ music.
However information is information: ‘Present’ music in the USA isn’t simply dropping market share. It’s truly getting statistically much less common.
All the things’s received a bit cozy this summer season.
We haven’t had a correct public falling out within the music business for a while now. However, up steps Triller.
This week, the US-based social video firm printed an open letter from its CEO Mahi de Silva, calling for “each American” to delete its rival TikTok.
The letter, by which Triller’s CEO “calls for each American to delete TikTok right this moment and the US Authorities to take direct and overdue motion to ban TikTok”, echoes safety considerations raised by officers within the US.
Credit score is as a result of SoundCloud group (significantly, we’re guessing, its President and ex-Warner/ADA higher-up, Eliah Seton) for efficiently negotiating such an essential check case for the adoption of FPR.
It’s undoubtedly an enormous win for SoundCloud, and for its pro-FPR argument.
Nevertheless, nagging questions stay about what occurs subsequent…
5) Imagine CEO accuses main document firms of lobbying streaming platforms to decrease royalty charges for DIY artists
Are the most important document firms attempting to strain music streaming companies to pay DIY artists decrease royalty charges than these acquired by established superstars?
He claims that sure majors are pushing for this modification as a result of “they’ve been persistently dropping market share for the previous 5 years” as a result of quantity of releases popping out by way of DIY platforms.
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