This week, writing in a New Year note to staff, Universal Music Group Chairman and CEO Sir Lucian Grainge said the way music streaming services pay labels and artists today has to change.
In the note, obtained by MBW, Grainge said: “What’s become clear to us and to so many artists and songwriters—developing and established ones alike—is that the economic model for streaming needs to evolve”.
He added: “As technology advances and platforms evolve, it’s not surprising that there’s also a need for business model innovation to keep pace with change.”
Also this week, US market monitor Luminate published its Year-End report for 2022 revealing that on-demand audio song streams in the United States grew 12.1% last year, to reach 1.1 trillion.
The company’s music division operates streaming platform Melon, which Kakao claims has a “dominant market share in music distribution rights in the country”.
Kakao also operates what it calls “a multi-label management system for globally loved K-pop artists” including IVE, Monsta X and others.
Writing in a New Year note to staff on Wednesday (January 11), obtained by MBW, Grainge said: “What’s become clear to us and to so many artists and songwriters—developing and established ones alike—is ...
...that the economic model for streaming needs to evolve. As technology advances and platforms evolve, it’s not surprising that there’s also a need for business model innovation to keep pace with change.
As MBW reported yesterday, the total number of on-demand audio streams in the US last year grew handsomely – up 12.1% to 1.1 trillion.
It plans to use the proceeds to accelerate its global growth across its three business divisions. Those divisions include ‘Story’, which comprises webtoons and web novels, and then Media, as well as Music.
Kakao hasn’t revealed the names of the funds backing the company, but TechCrunch reports that the investment has come from Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based PWARP Investment.
Citing sources, Billboard reports that Dr. Dre is selling his artist royalties from two of his solo albums and his ...
...artist royalties from hip hop group N.W.A., which he formed with Ice Cube, Arabian Prince and Eazy-E in 1987.
“Does anyone know why this song is banned on Spotify?”
“wHY ISNT 90MH ON SPOTIFY NA:'(((((“
“whyd 90mh get removed from spotify” Said hit, originally released in September 2019, is 90mh by independent Arizona-based rapper, Trefuego.
Each of these three comments beckons the same explanation: Because Sony Music issued a strict copyright takedown notice on 90mh to Spotify and other key platforms on August 9, 2022.