How Many Streams To Go To Space? 🚀
Cadence AMA Now Taking Qs, Vax Required For UK Clubs, PROs Meltdown
Read the news lately, and you’d think that only ultra-wealthy billionaires have what it takes to go into space. But the truth is, even merely super-wealthy millionaires can get at least a sub-orbital ride. And that means that some of the biggest musicians on the planet can pay for a seat. Here’s what it would take.
1 Ticket With Jeff Bezos = 7 Billion Spotify Streams
A seat on yesterday’s successful flight with Amazon founder Jeff Bezos on his (phallic, even by rocketry standards) Blue Origins spaceship was auctioned off for $28 million. That means there are 19 artists who could pay for a seat with their lifetime Spotify earnings (assuming $.004 per stream). But only five of those artists—Drake, J Balvin, Bad Bunny, Justin Bieber and Post Malone—could afford to bring a date.
1 Ticket With Richard Branson = 64.577 AvengedSevenfolds ($clout)
Social tokens for Avenged Sevenfold are currently selling on BitClout for $3,868.64 a pop, the highest of any musician who has “claimed'' their currency. That means that the emo-metal heroes only need to sell 64.577 of them to cover the $250,000 cost of a future seat on Virgin Galactic.
1 Ticket With Elon Musk = ½ David Guetta Catalog
For those who want more bang for their buck, it only costs $55 million to have Elon Musk’s Space X Dragon vehicle transport you to the International Space Station for eight amazing days in orbit. Compared to $28 million for five minutes with Bezos, it’s almost like they’re paying you to go to space.
No word if David Guetta plans to spend more than half of the $100 million he pocketed last month by selling his catalog to Warner Music on a ride, but the fact that Musk has no plans to join his billionaire buddies on the launch pad makes the trip seem even more attractive.
The Cadence AMA
Ask us any questions here. Answers in next week’s newsletter.
TAKEAWAYS
The most salient statements from this week’s news.
1. Covid Vaccine Certificates to Be Compulsory for Crowded Venues in England
Restrictions won’t go into effect until September, despite venues opening this week.
Takeaway: Unlike at pilot events, where customers have been allowed to show evidence of a negative test, they will have to prove they have been double-jabbed amid concerns in government about vaccine uptake among young people.
2. The Great Song Registration Meltdown of 2020–2021
PROs are drowning in data, creating backups in registering songs that can last for months.
Takeaway: Why does the speed of song registrations matter? A musical artist could drop a new song on TikTok coming right out of the recording studio one night, and find that song has billions of listens the next day via TikTok, Instagram, YouTube, Spotify and a myriad of other video and music streaming services.
3. Sony Music Publishing Disregards Unrecouped Balances for Heritage Songwriters
Sony’s debt forgiveness expands from artists to songwriters.
Takeaway: What this means in practice is that if a songwriter last received an advance from SMP prior to 2000, and that advance is still unrecouped today, said writer will now start being paid money from streaming and other royalty sources, backdated to January 1 of this year.
4. Boost for Festival Sector as All Points East Confirms Capacity Increase
AEG Presents will expand the size of its festival to 170,000 over four days, making it the largest post-pandemic party in the UK.
Takeaway: [The] statement comes on 'freedom day', as the government lifts coronavirus restrictions in the UK. Many in the festival business are calling for an insurance scheme to protect scheduled events.Â
