Choose Your Festival Adventure
Which festival itinerary do you chose
Salient statements from this week’s industry news.
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.
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.
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.
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.