Songtradr announced today a long-term partnership with Milamber Ventures PLC to establish essential business development and territorial expansion of Songtradr in the UK. This partnership with Milamber Ventures PLC expands Songtradr’s presence to a key market where commercial music licensing is a highly fragmented industry for European based brands, filmmakers and advertising agencies. The focus will be on sales, marketing and content acquisition.
AXS and Spotify have announced a global partnership where music listeners will get personalized recommendations for live events in their area through the tens of thousands of live events AXS tickets annually.
The more than 100 million active Spotify users will be able to buy AXS tickets through the Spotify desktop or mobile app. Personalized event recommendations of AXS events will be based on listening behavior, artist preferences, user location and will be delivered to the listener in multiple ways.
SoundExchange today announced that it has acquired the Canadian Musical Reproduction Rights Agency Ltd. (CMRRA), a music licensing collective representing the vast majority of songs recorded, sold and broadcast in Canada on behalf of music publishers. The move is a dramatic development for the global music industry and represents SoundExchange’s first expansion into the collective management of music publishing rights.
This transaction will allow the expanded organization to service an enormous cross section of Anglo-American sound recordings and music publishing repertoire. The acquisition will provide SoundExchange a unique opportunity to offer a broad and comprehensive range of services to rights holders in both sound recordings and music publishing and music users alike across North America.
Arena Music has announced that it will begin offering royalty payouts for music streamed through the Arena platform in Bitcoin worldwide starting in June. The company has been testing the digital currency in Phoenix and Atlanta over the last 6 months. In March, Bitcoin reached parity with gold for the first time since its inception. It’s been deemed the “most exciting monetary experiment in modern times.”
The company is an on-demand merchandising storefront that leverages a free streaming service to help artists monetize their content in an industry where consumers no longer buy music to own. By using the music as a loss leader, Arena helps artists and labels redirect consumer attention to exclusive merchandise offerings.
Offering payouts in the popular cryptocurrency highlights the company’s forward-thinking approach and alliance with independent content creators by offering them compensation with another form of capital or investment–one that can never be offered by any subscription-based streaming platform.
According to a recent report from the Financial Times, music streaming is set to overtake CD and vinyl as the largest generator of income for British record labels in 2017. The report states that as more people opt for subscriptions to streaming services such as Spotify and Apple Music, revenues in the sector were pushed to a five-year high last year. Total income generated by the U.K. music industry increased by 5 percent to £925 million ($11.6 million) in 2016, from £881 million ($11.1 million).
Yet despite the popularity of the music industry, musicians often find themselves unfairly compensated.
To rectify this problem, the Open Music Initiative (OMI) and Ujo Music, among others, are attempting to change outdated modes in the music industry to ensure long-term sustainability, with the intent to use blockchain technology to support the creation of music.
Read Article: Bitcoin Magazine
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Undercutting rival Spotify and others in the industry, SoundCloud is offering consumers music for $4.99 a month. This price is 50% lower than what Spotify offers, according to Bloomberg News.
Yet with both SoundCloud and Spotify being in the red, some are insisting that the lower $4.99 charge could be key for SoundCloud and Spotify to attract more paying users and to make money.
Read Article: Investopedia