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TAKEAWAYS
Salient statements from this week’s industry news.
1. Universal Music's New Policy Presents a Speed Bump for Royalties Sales
The bull run of music royalties has finally shown a downside—a mountain of paperwork for the labels.
Takeaway: Investors who have purchased some or all of an artist, producer, engineer or side performer’s revenue stream on a sound recording or composition owned or controlled by UMG will now need to coordinate that payment directly through the artist with whom the label has a deal.Â
2. Wow, Investors Actually Just Gave Turntable.fm $7.5 Million
OK ideas don’t die. They double.
Takeaway: While Turntable.fm is being run by its original creator, another group is trying to create a competing revival of the service.Â
3. Warner Names New Recipients of Grants From Its $100m Social Justice Fund
The one-year anniversary of George Floyd’s death has people looking at how many companies have fulfilled the financial promises made last summer.
Takeaway: WMG also says that it is developing ways for its artists and employees to support these organizations in addition to monetary investments.
4. Copyrights, Royalty Splits & More: 'Ruthless' NFT Market Sparks New Legal Debates
Can law men tame the Wild West of NFTs?
Takeaway: Because collectors are primarily motivated to buy an NFT based on the name or brand associated with it, which translates to a higher resale value, the music and visual artists at the center of NFTs deserve the lion’s share of the revenue -- not the label.
