Welcome to Music Organization Worldwide‘s weekly round-up– where we ensure you captured the 5 greatest stories to strike our headings over the previous 7 days. MBW’s round-up is supported by Centtrip, which assists over 500 of the world’s very popular artists optimize their earnings and decrease their touring expenses.
Completion of September got here with huge news about direct-to-fan platform Bandcamp.
Simply 18 months after being gotten by Legendary Games, the maker of hit computer game Fortnite, Bandcamp has a brand-new owner.
Legendary Games has actually offered Bandcamp to Los Angeles-based B2B music licensing business Songtradr
According to journalism release, the “acquisition will assist Bandcamp continue to grow within a music-first business and allow Songtradr to broaden its abilities to support the artist neighborhood”.
In other places today, Warner Music Group CEO Robert Kyncl took part in a Q&A session at the Code Conference in Laguna Niguel, California, where he talked about AI, why labels still exist, and more.
Likewise, the estate of Ed Townsend, co-writer of Marvin Gaye’s Let’s Get It On, officially ended their court fight with Ed Sheeran over their claims that Sheeran’s Considering Loud copied the renowned 1970s R&B tune.
Plus, Latin music created $627 million in gross profits in the United States in H1 2023, while Jet, the rock band behind Are You Gon na Be My Lady, struck a “landmark” brochure handle BMG
Here’s what occurred today …
1) SONGTRADR OBTAINS BANDCAMP FROM FORTNITE MAKER LEGENDARY GAMES
Los Angeles-based B2B music licensing business Songtradr is getting Bandcamp from Legendary Games.
Songtradr states it will continue to run Bandcamp as a market and music neighborhood with an “artist-first income share”.
The news gets here a year and a half after Legendary Games (the maker of the hit computer game Fortnite, and Unreal Engine) obtained Bandcamp– an online music shop and direct-to-fan platform …
2) WARNER MUSIC GROUP EMPLOYER ROBERT KYNCL ON AI, WHY LABELS STILL EXIST, AND 2 OTHER MATTERS WE GAINED FROM HIS Q&A AT THE CODE CONFERENCE
In current months, Warner Music Group CEO Robert Kyncl has actually been keeping a close eye on AI in the music market– not unexpected, considered that he concerned the music biz from ‘Huge Tech’, particularly YouTube, where he was Chief Organization Officer.
Nor is it unexpected, offered his present function, that he has actually been promoting rate walkings at music streaming services.
Both of these subjects turned up throughout Kyncl’s Q&A session at the Code Conference in Laguna Niguel, California, on Tuesday (September 26).
However what was perhaps more unexpected– for a techie like Kyncl, anyhow– was his logical, level-headed description for why conventional music labels continue to matter, and continue to grow, in the present music community …
3) ESTATE OF ‘LET’S GET IT ON’ CO-WRITER DROPS APPEAL IN ED SHEERAN ‘CONSIDERING LOUD’ COPYRIGHT FIGHT
The estate of Ed Townsend, co-writer of Marvin Gaye’s Let’s Get It On, have actually officially ended their court fight with Ed Sheeran over their claims that Sheeran’s Considering Loud copied the renowned 1970s R&B tune.
A jury in a federal court in Manhattan ruled in favor of Sheeran in Might, turning down the Townsend estate’s assertion that Sheeran’s 2014 hit Considering Loud “copied the heart” of Gaye’s 1973 struck Let’s Get It On.
That resulted in the Townsend estate submitting an appeal with the United States Court of Appeals for the Second Circuit. Nevertheless, in a filing with the court last Wednesday (September 20), the household withdrew their movement for appeal “with bias,” indicating the case can’t be refiled … (MBW)
4) LATIN MUSIC CREATED $627M IN United States TAPED MUSIC REVENUES IN H1 2023– UP 14.8% YOY
Latin music created $627 million in gross profits in the United States in the very first half of the year.
That’s the heading stat from the Recording Market Association of America’s ( RIAA) Mid-Year 2023 Latin Music Report, which, released Wednesday (September 27), reveals that on a retail basis (cash invested in streaming memberships, in addition to physical and digital music), Latin music profits grew 14.8% YoY in the United States in H1.
Latin music’s share of total United States taped music profits grew from 7.1% in the very first half of 2022 to a brand-new high of 7.5% in the very first half of 2023.
5) JET, ROCK BAND BEHIND ‘ARE YOU GON NA BE MY LADY’, STRIKES ‘LANDMARK’ BROCHURE HANDLE BMG
BMG has actually gotten the recordings brochure of multi-platinum rock band Jet in Australia, in what the music business states is a “landmark offer.”
Under the arrangement, BMG has actually gotten the documented music rights for Australia and New Zealand to Jet’s preliminary 2 albums, Get Born and Shine On.
In the remainder of the world, these albums will continue to be owned by Warner Music Group. (Jet formerly owned and accredited the taped rights to the 2 albums in ANZ; those rights then went back ahead of the BMG offer.)
In addition, BMG has actually gotten the artist’s royalty stream all over the world for the 2 albums in eternity, in addition to the international documented rights to the band’s 3rd album Shaka Rock … Music Organization Worldwide