Weekend Edition
The Synch Explosion, Cali Venue Relief, Spotify's Hate Problem
TAKEAWAYS
Salient statements from this week’s music news.’
1. Music Synch Revenue Is Growing Faster Than Ever
The RIAA is reporting a massive 29.9% in sync revenue for the first half of the year, buoyed by the boom in TV streaming content (and competition).
Takeaway: What labels are earning from synch could be even greater than what the RIAA reported. A source familiar with how these revenue streams are classified says artist performances on Roblox don't count toward synch revenues but licensing revenues for games like Grand Theft Auto do.
2. Apple Pulls Apps Owned by Russian Tech Giant VK From App Store
The suite of apps, including VK Music, have been pulled in compliance with UK sanctions against Russia over the war in Ukraine.
Takeaway: The move arrived six months after the major music company decided to suspend its operations in Russia in response to the global condemnation against the Kremlin and its president, Vladimir Putin.
3. California Governor Newsom Signs Bill to Assist Live Music Venues In the State
The new regulation will make it easier for live music venues to qualify for less expensive liquor licenses.
Takeaway: Currently, California law does not have a liquor license that fits the needs of live entertainment venues. State senator and SB 793 sponsor Scott Wiener says that venue operators face challenges with compliance, including a state requirement to install restaurant-grade kitchens and adapt to the qualifications of a restaurant license, though many do not fit into that category.
4. WMG & Opensea Cast a Wider Web
With sales slumped, the majors are now striking favorable deals with the web’s largest NFT platform.
Takeaway: WMG artists will get early access to OpenSea’s latest products, along with improved "discoverability," personalized storytelling on customized landing pages and OpenSea’s safety and security features.
5. MLC to Help Indie Distributors Find Unclaimed Royalties With New Portal
The new service with an unfortunate name will help distributors find lost mechanical royalties.
Takeaway: During testing of the new service, DURP was able to locate $20,000 in previously unpaid royalties for Australian artist RØNIN and onboard him to the MLC.
6. Spotify is Stepping Up Efforts to Drive Hateful Content From Its Platform
The streamer has removed 19,000 playlists for violating its hate speech policy after being called. out by the Anti-Defamation League
Takeaway: According to the ADL, some of these artists are “verified” by Spotify. This distinction allows them to use tools specially designed by the streaming service to help them get their songs featured in multiple playlists.
