The FN S**tshow
plus 20 Years of "Shazaming", BMI Layoffs and Deezer's New Model
TAKEAWAYS
Salient statements from this week’s music news.
1. Shazam Turns 20: How The Music Recognition App Became Indispensable
Take a moment to celebrate the only music app ever to become its own verb.
Takeaway: It’s a brilliant system and one of those apps that, once you’ve used it, you can’t quite imagine managing without.
2. After Filing Trademark Applications for KINGSHIP, Universal Expands NFT Brand via M&M’s Deal
The trendy Bored Ape supergroup made its first major sponsorship deal, but not before filing all the traditional trademark protections.
Takeaway: UMG has filed for KINGSHIP trademarks in various other categories, with applicable goods and services ranging from digital and blockchain assets to photo, video, and data sharing services.
3. How Did the FN Meka Mess Happen?
Capitol Records took the PR hit, but the Universal subsidiary was the smallest company doing business with the offensive artificial rapper.
Takeaway: Not only did FN Meka have 1 billion views and 10 million followers on TikTok, it was the platform’s ambassador for its first NFT drop, and also had lucrative, high-profile branding deals with Amazon and Microsoft’s Xbox.
4. BMI Layoffs Hit ‘Just Under 10%’ of Workforce
A week after it stopped exploring a sale, the music rights org is now cutting staff “to ensure that we are best positioned for continued success in the future."“
Takeaway: Despite the company’s decision to pull itself off the market, it announced in 2021 that it set financial records — distributing or administering $1.335 billion to songwriters, composers, and publishers (up 8% from the previous year), and bringing in $1.409 billion in revenue (up 7%).
5. Google Fires Back Against Composer Maria Schneider’s Content ID Lawsuit
The lawsuit contends that YouTube limiting rightsholders’ access to its content ID system limits copyright protection for small artists.
Takeaway: Perhaps the most interesting component of this in-depth answer is YouTube’s contention that its “novel copyright management tools are so powerful, they must be used with care.”
6. Why Do We Love TikTok Audio Memes?
We used to complain about autoplay. Now, TikTok’s “sound on” template has proven the memetic power all audio, including music.
Takeaway: Though TikTok didn’t invent the audio meme, its effortless interface may have perfected it, and the platform, which recently ended Google’s 15-year-long run as the most visited website in the world, would be nothing without sound.
7. Deezer Lost 300,000 Subs in H1 2022 YOY, but Revenue Jumped Up 9.9%
More money from fewer subs could be a formula for survival for regional streamers.
Takeaway: [The new] strategy refers to the company’s increased focus on selected key markets as the company seeks to direct its efforts towards large attractive markets via a partnership-first go-to-market model.
