Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their earnings and cut back their touring prices.
Spotify revealed this week that it paid out $10 billion to the music trade in 2024 – a full $1 billion greater than it paid out in 2023.
Additionally this week, Spotify received a lawsuit introduced by the Mechanical Licensing Collective (MLC) final yr over the streaming large’s “bundling” of Premium subscriptions.
Elsewhere this week, Affect Media Companions jumped into the asset-backed securitization (ABS) recreation with a $360 million debt financing spherical, backed by music royalties from its portfolio of music rights, and led by Goldman Sachs.
In the meantime, Harmony acquired a portion of the track catalog of Johnny McDaid, a key collaborator of Ed Sheeran‘s, who has additionally written for the likes of P!nk, Lewis Capaldi, and BTS.
Plus, AmazonMusic raised the costs for its music streaming service within the US, the UK and Canada.
Subscription music streaming modified the fortunes of the document trade over the previous decade.
That’s the message from David Kaefer, Spotify’s VP of Music Enterprise, in a weblog submit revealed Tuesday (January 28). In it, he notes {that a} decade in the past, in 2014, “the music trade reached a low level when international recorded music revenues hit $13 billion.”
Kaefer additionally notes that Spotify’s annual contribution on the time was round $1 billion, and that it had round 15 million paying subscribers.
This is a vital little bit of historic context for Kaefer to ship the massive information that Spotify paid out “a document” $10 billion to the music trade in 2024…
Spotify has overwhelmed a lawsuit introduced by the Mechanical Licensing Collective (MLC) over the streaming service’s resolution to reclassify its Premium subscriptions as “bundles”.
On Wednesday (January 29), Decide Analisa Torres of the US District Courtroom for the Southern District of New York granted Spotify’s movement to dismiss the lawsuit “with prejudice”.
The battle between the MLC and Spotify started in March 2024 when Spotify reclassified its Premium subscription tiers as “bundles,” as they now embody 15 hours of audiobook entry every month.
The transfer controversially resulted in Spotify paying a decrease mechanical royalty fee to publishers and songwriters in the US…
Rights-backed securitization offers have gotten more and more frequent within the music trade.
Wednesday (January 29) introduced the most recent information from this house. Affect Media Companions confirmed that it had secured roughly $360 million in debt financing by means of an inaugural personal securitization, collateralized by music royalties from its portfolio of music rights.
Affect was based in 2019 and led by Lylette Pizarro, Lynn Hazan, Rene McLean, and Jon Jashni.
In early 2022, it introduced a $750 million fund to spend money on what it calls “high-value compositions from numerous artists” with backing from BlackRock Different Buyers and Warner Music Group…
Harmony has acquired a portion of songwriter, musician, and producer Johnny McDaid’s track catalog.
McDaid is a key collaborator of Ed Sheeran’s – co-writing lots of the British artist’s greatest hits – and can be a member of the band Snow Patrol.
McDaid has additionally written for the likes of P!nk, Lewis Capaldi, Keith City, Shawn Mendes, Zara Larsson, Alicia Keys, and Jung Kook, amongst many others.
MBW understands that Harmony’s catalog acquisition contains each the author’s share and writer’s share of many McDaid songs launched up to now few years, together with Ed Sheeran’s Shivers and Unhealthy Habits, plus BTS’s Permission to Dance…
Amazon Music has raised the costs for its music streaming service within the US, the UK and Canada.
This marks the service’s first worth adjustment for Amazon Music Limitless — Amazon’s paid music streaming service — since August 2023.
Within the US, particular person non-Prime members will now pay $11.99 month-to-month, up from $10.99, whereas Prime members will see their month-to-month fee rise to $10.99 from $9.99…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.Music Enterprise Worldwide
