Live Music Dusts Itself Off, Again
AI Declared Not Legally Artists, Blackrock Invest In Female Acts, Beatport Buys Ampsuite
We might still be in the longest February ever, but spring is peering around the corner, and with it, a new promise of live music. And while we certainly saw similar optimism last summer, the current crop of concert news feels less frantic in its rush back to normalcy and more grounded in the long-term investments in venues and other infrastructure, much of which pre-dates COVID altogether. No wonder Live Nation stock is trading just $3 below its historical high following a robust earnings report yesterday.
The deluge of 2022 tour announcements is too much to try to tackle here — although, seeing The Today Show cut from war in Ukraine to an ad for Paul McCartney’s Get Back tour this morning was jarring. But more than shows, here are a few of the headlines that show live music is moving forward, not just in the U.S., but in much of the world.
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Salient statements from this week’s music news.
1. USCO Officially Refuses to Issue Copyright For AI-Created Art, Citing Absence of ‘Human Authorship’
While this seems to endorse man-made music, the lack of copyright protection could further incentivize tech companies to push for royalty-free AI-creations.
Takeaway: The clear-cut findings of the USCO’s Review Board are worth bearing in mind moving forward, as artificial intelligence appears poised to play an increasingly significant role in the music-creation process.
While big-dollar sales of legendary catalogs dominate the new cycle, music rights remain a hot asset class regardless of the demographics of the creators.
Takeaway: While many players in the catalog-investment game focus nearly exclusively on established, proven catalogs, such as Primary Wave, Influence sees opportunity in less-traveled territory.
The world’s biggest electronic music retailer, which was 33% Y-o-Y growth in 2020, could be seeking new opportunities as the genre’s presence on global charts continues to decline.
Takeaway: Ampsuite’s technology will be used to power Beatport’s suite of professional tools and services, while Ampsuite’s existing management team continues to provide a broader distribution service to other digital retailers.
4. THE MAJOR MUSIC COMPANIES ARE IN A RACE TO HIRE THE BEST WEB3 TALENT – BEFORE MEDIA’S BIGGEST COMPANIES BEAT THEM TO IT
In a new area with few proven experts, keeping charlatans out of the C-suite is a major concern.
Takeaway: The notion of the metaverse is getting more popular as we enter a post-pandemic era. This is particularly true in the music business, where the earning potential from metaverse projects and associated Web3 categories like NFTs and crypto is getting too significant for most artists and the three major music companies to ignore.