IBM and Sacem announced today a 10-year strategic alliance to develop URights, a world-class copyright platform on IBM Cloud designed to track and capture the value of online music for both creators and publishers. Electronic distribution of music and advances in the streaming market have led to rapid growth in the amount of creative content being consumed around the world. Last year, Sacem tracked nearly 982.5 billion download and streaming transactions – almost twice the 2015 total.
To handle the exponential volume of music transactions online, URights the innovative rights collection and distribution services platform – co-developed by Sacem and IBM – will help to more effectively identify online rights. The platform will allow Sacem to provide additional value to rights owners with increased data analysis allowing more transparency and a more efficient identification of online works to help ensure they are compensated fairly. In 2015, Sacem distributed royalties to 293,000 creators and publishers in France and around the world, to credit two million works.
URights is open by design to allow other partners to integrate, such as other collective management organizations across the world, ensuring to save cost duplications and enhanced data-driven decision making. It will also provide customized services tailored to the specific nature of their local markets.
One of the biggest problems the music industry faces today is knowing which labels and publishers, performers, songwriters and producers own the rights to songs and recordings, and what their split of the royalties might be. Many believe that record keeping with Blockchain technology can help. Advocates of Blockchain foresee a music industry where every time a song is sold or streamed, payments on royalty splits would be clearer and quicker.
Read Article: Music Business Journal
Invite-only torrent site What.CD, a favorite destination for audiophiles for its vast trove of hard-to-find releases and high-quality files, has terminated operations immediately. A terse statement found on its website mentions “recent events” as the reason for the shut-down. “We are not likely to return any time soon in our current form,” the message reads. “All site and user data has been destroyed. So long, and thanks for all the fish.”
Prince’s estate has sued Jay Z’s Roc Nation for copyright infringement over Tidal’s claim of having exclusive streaming rights for Prince’s music, The Star Tribune reports. The complaint, obtained by Pitchfork, asserts that Tidal was only granted a 90-day period of streaming exclusivity for Prince’s 2015 album HITNRUN Phase One.
NPG Records claims that no other agreements were made and that Tidal “is exploiting many copyrighted Prince works.” One cited example of infringement is a July 2016 report about Tidal adding 15 Prince albums to its service. It’s also stated that Tidal did not attempt to communicate with Prince’s estate after his death.
One thing has become obvious over the last couple of years — on-demand streaming has won. Pandora did well for a number of years with its personalized radio experience but after a certain point, it arguably just created demand for a truly personalized service where users could control exactly what they wanted to listen to.
Apparently, having an algorithm guess at what you might like to hear next is not quite as good as allowing the user to make more granular decisions. In addition, Pandora benefited from the unique royalty model in the US but that also made it hard to export its business model elsewhere.
Meanwhile, Spotify has eclipsed Pandora’s user numbers and, adding in Apple Music, Deezer, Rhapsody and others, makes clear which way the wind is blowing – Pandora’s model has stalled, while on-demand streaming is the future. Hence, Pandora’s acquisition of Rdio and the pursuit of rights for on-demand streaming.
While global music consumption is at an all-time high—and YouTube is the number one source of music streams, boasting more listeners than Spotify and Apple Music combined—only a small amount of the revenue generated by that consumption is passed along to artists and musicians, according to the letter. The artists’ share is allegedly dwarfed by the “huge profits” earned by the platform. According to the Recording Industry Association of America, YouTube saw a more than 100% increase in the number of video plays last year, while revenue sent to U.S. artists only saw a 17% increase.
Source: Fast Company
Berklee College of Music and the MIT Media Lab are leading a new initiative they hope will one day solve complicated, expensive music industry issues involving licensing, distribution and ownership rights.Big names are signing on, including Spotify, Pandora, YouTube, Netflix, Soundcloud, NPR (and WBUR), as well as major record label/entertainment groups Sony, Universal and Warner.
If it succeeds, this broad constellation of players believes it could change the many-layered, multi-organism music ecosystem as we know it.
Source: The ARTery