Study: Streaming Music Services Continue Worldwide Growth

According to a new report from MIDiA Research and digital media association DiMA, 2017 marked the third consecutive year of revenue growth for streaming music and subscription services. Worldwide recorded music revenue increased from $16 billion in 2016 to $17.4 billion last year. Streaming revenues reached $7.4 billion, representing 43 percent of all revenue. Meanwhile, legacy music formats — including downloads and physical albums — dropped by $783 million. Streaming music subscriptions experienced significant growth in the U.S., up 63 percent from 2016 to $4 billion in 2017. Continue reading Study: Streaming Music Services Continue Worldwide Growth

Musicians and Music Groups Push for Updated Copyright Law

Musical artists and music organizations are banding together in an effort to pass copyright legislation on content recorded before February 17, 1972. A coalition of 213 artists and eight music organizations has joined forces to ask Congress to pass the “CLASSICS Act” (H.R. 3301/S. 2393), which would cover such older recordings, resulting in increased royalties for this older era of musical content. The coalition placed a two-page ad in Politico on February 14 that made their case for the legislation. Continue reading Musicians and Music Groups Push for Updated Copyright Law

Sprint Buys One-Third of Jay Z’s Troubled Tidal Music Service

Sprint bought a one-third stake in Jay Z’s streaming music service Tidal, after beginning discussions in April 2015. Sprint has not offered details on how much it paid or what the partnership entails, although it says that its subscribers will now have access to Tidal content and that Tidal and its artists will create content specifically for them. Jay Z has stated that he and Sprint share the view of allowing artists to connect directly with fans. Sprint chief executive Marcelo Claure will join the Tidal board of directors. Continue reading Sprint Buys One-Third of Jay Z’s Troubled Tidal Music Service

Federal Ruling Updates Royalty Rates for Streaming Music

When a panel of federal judges increased the royalty rates that free Internet radio services pay, there were winners and losers. The rate for pure-play Internet services rose to 17 cents from 14 cents, disappointing SoundExchange, the non-profit licensing agency representing record companies, which had asked for 25 cents. The Copyright Royalty Board also evened the playing field between pure-play and broadcasters with Web streams such as iHeartRadio, with the latter owing less — 22 cents rather than 25 cents — for their paid subscriptions. Continue reading Federal Ruling Updates Royalty Rates for Streaming Music