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U.S. Music Streaming Revenue Tops $8 Billion, Up 33%
Source:
HypeBot
On-demand music services including Apple Music, Pandora and Spotify will top $8 billion in revenue in the U.S. this year, up 33% as increased adoption of products like wireless earbuds and smart speakers help drive more music subscriptions, according to a new Consumer Technology Association survey. The growing popularity of music and video streaming services, artificial intelligence (AI)-enabled emerging devices and in-vehicle technology will help drive the U.S. consumer tech industry to a record-breaking $401 billion in retail revenues in ...
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Indie Stores Report 2018 Vinyl Sales +10%, CDs -12.6%
Source:
HypeBot
The Coalition of Independent Music Stores polled it ts members on December 2018 sales compared to last year. Despite the rush to streaming, brick and mortar music stores appear to be holding with the help of healthy sales of vinyl, turntables and vinyl accessories. 2018 Indie store charts follow the survey results. “The results were, of course, a mixed bag but by averaging the results, a pretty clear picture of where we are at sale-wise emerged as we enter a ...
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BMI Has Record Year, Revenue Tops $1B, Digital Up 32%
Source:
HypeBot
BMI has reported record revenue of $1.199 billion for the fiscal year ending June 30th. The PRO distributed and administered a record $1.118 billion in royalties to its songwriters, composers and publishers, an increase of $95 million, or 9% higher than the previous year. The $1.118 billion in total distributions includes domestic and international royalties, as well as royalties from direct deals that BMI administers on behalf of its publishers. Distributions from these direct deals totaled $53 million, a $17 million ...
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Copyright Royalty Board Raises Rates SiriusXM Pays For Music 40%
Source:
HypeBot
Responding to a request from SoundExchange and other artist advocates, the US Copyright Royalty Board (CRB) yesterday issued rate changes for for Sirius XM’s satellite radio service, as well as for cable and satellite television music services provided by Music Choice and Muzak, from 2018 through 2022. The CRB has increased the rates for Sirius XM by more than 40%, from 11% of revenue to 15.5% of revenue, effective January 1, 2018. Sirius XM is the only satellite radio service ...
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Cumulus, Owner Of 446 U.S. Radio Stations, Files For Bankruptcy Protection, Stock Falls 45%
Source:
HypeBot
Cumulus Media, the third biggest owner of U.S. broadcast radio stations,as well as Westwood One, has filed for Chapter 11 Bankruptcy protection. Top broadcast radio owner iHeartMedia has also been on the brink of insolvency for more than year. Broadcast radio may not be dead, but it certainly is on life support. Cumulus Media has filed for Chapter 11 Bankruptcy protection, as it struggles with $2.4 billion in debt. Cumulus was delisted from the NASDAQ last week, and earlier this ...
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Live Nation Reports Record Results For Q3, Revenue Up 12%
Source:
HypeBot
Promoter Live Nation reported their best quarter for Q3 2017, with record results across revenue, operating income and adjusted operating income. The company reported that revenue was up 12%, operating income was up 5% and AOI was up 10% vs. the same period in 2016, with their concerts, advertising, and ticketing operations all reporting record AOI. Live Nation says their concert business had almost 30 million customers globally for the quarter and through October, they report the sale of more than ...
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SoundExchange Payments Rise 29% In Q3, Artists And Labels Paid Jump 45%
Source:
HypeBot
SoundExchange payments were up 29.2% last quarter. So while the U.S. digital PRO has taken some big hits lately, mostly thanks to Pandora and other direct licensing deals, this impressive growth should quiet any disparaging talk of its ongoing relevancy. SoundExchange distributions of digital performance royalties to artists and rights owners increased by 29.2% in the third quarter of 2016, compared to Q3 2015. SoundExchange paid $263.5 million in royalties in the quarter, up from $204 million in the second quarter ...
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Merlin Reduces Administration Fee For Indie Labels By 20%
Source:
HypeBot
Merlin, the global digital rights agency for independent labels has announced that it is reducing the administration fee for deals with members by 20% from 2.5% of revenues to 2%. This marks the 5th time in 4 years that Merlin has reduced admin fees. They are now almost a quarter of what they were in 2012. In 2015, Merlin marked the first full year of operation of its US office, an expansion of staff at its London office and further roll out ...
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MySpace Returns From The Dead, Traffic Up 575%
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HypeBot
What if MySpace was more than a vault for Throwback Thursdays? With new stats showing user traffic up a surprising 575% from this time last year, MySpace is causing a bit of a buzz amongst social media connoisseurs. Generating over 300 million video views in the month of November, MySpace ranked 16th most popular video provider in ComScore's Video Matrix ranking begging the question: Could the social media pioneer really be making a comeback? MySpace seems to have attracted a niche ...
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