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Friday, December 16, 2022

RG Ingersoll's Hotrax Music Tips - As other music streaming services is making its own AI-generated songs at record pace

 

 
Music Business Worldwide: Newsletter
 
 
How would major music rightsholders react if the companies behind platforms like Spotify, TikTok or YouTube started creating hundreds of thousands of songs via AI technology – and then hosted and promoted these tracks on their services?It's a question that's looking more and more like it might one day require an answer.Last month, MBW reported that Tencent Music Entertainment (TME) – the owner of China's largest music streaming platforms – had created and released over 1,000 tracks containing vocals created by its own AI tech that mimics the human voice.One of these tracks, according to TME, has even surpassed 100 million streams.Today (December 15), we've learned that Tencent isn't the only significant music streaming provider that's started creating stacks of songs created by artificial intelligence.MENA-focused Spotify rival, Anghami, is now taking the concept to a whole other level – claiming that it will soon become the first platform to host over 200,000 songs generated by AI...
 
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Grammy-winning producer Greg Wells sells catalog to South Korea’s Beyond Music

Seoul-based Beyond Music, which claims to be Asia’s largest single music IP asset management company, has acquired the music catalog of  Grammy-winning producer/songwriter Greg Wells.Wells has produced and written songs with the likes of Adele, Taylor Swift, John Legend, Dua Lipa, Quincy Jones and Katy Perry, among many others... (MBW)

Warner Music Group makes investment in virtual fashion platform DRESSX
Warner Music Group has invested in DRESSX, a digital fashion retailer.Under the new partnership, WMG artists will be able to collaborate directly with DRESSX to design and launch 3D and AR virtual clothing... (MBW)
Arno Van Berkel appointed Managing Director at Fruits Music
Fruits Music, the music and tech company specializing in music playlist promotion via marketing with a variety of proprietary, in-house tech products, has appointed Arno Van Berkel to the position of Managing Director.Based at the company’s European headquarters in Oosterhout, Netherlands, Van Berkel will start his new role on January 23, 2023, and will report directly to Fruits Music Founder & CEO Stef Van Vugt.With over 27 years’ experience in the music industry, he joins the company from his previous position as Managing Director at Warner Chappell Music, Benelux, a role he held for 15 years... (MBW)
 
 
 
Don't miss: A year ago, Patrick Moxey sold Ultra Records to Sony Music. Now the label is suing his publishing company.

In December 2021, Sony Music fully acquired Ultra Records from Patrick Moxey. Now, Sony-owned Ultra Records is suing Moxey's 18-year-old independent publishing company.The lawsuit, obtained by MBW, was filed in the US by Ultra Records LLC (an entity fully owned by Sony Music) last month.It centers around Moxey's continued use of the 'Ultra' name for his independent publishing company, Ultra International Music Publishing, LLC, which was first incorporated in the US in August 2004.Two months after Moxey's exit from Sony Music, says the lawsuit, in March 2022, Ultra Records "terminate[d] the license [for] the ULTRA trademark granted to Ultra International Music Publishing".In response, Moxey has accused Sony Music of "bullying" him; Sony Music claims that Moxey is "perpetuating a falsehood that he remains affiliated with his former company"... (MBW)

Don't miss: SoundCloud's revenues grew 19% YoY to $273m in 2021. The company's predicting that 'fandom will be the next big format for the music business.'
According to a financial report obtained by MBW, SoundCloud saw its global revenues grow 19.2% YoY to EUR €230.7 million (USD $273m) in 2021, as the firm’s gross profit grew by 33.7% to €81.7 million ($97m).That represented the third consecutive year of double-digit revenue growth across SoundCloud’s business, and the first year in which its annual revenues topped a quarter of a billion dollars.“We really believe the next big format for the music business is fandom,” says SoundCloud President, Eliah Seton... (MBW)
 
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Monday, December 12, 2022

RG Ingersoll's - Hotrax Music Tips - The Daily Snapshot

 

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The Daily Snapshot.

December 12th, 2022

Your Source for the Latest Music Industry News and Developments

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Triller Formally Responds to Sony Music Copyright Lawsuit, Admits ‘It Has Been Unable to Make Payments’In August, Sony Music Entertainment (SME) sued Triller for allegedly failing to pay millions in owed licensing fees. Now, the short-form video-sharing app has officially responded to the complaint.The Story Continues Here.

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Concord Completes $1.8 Billion Bond Sale, Reveals Plans to Buy Additional Catalogs and Develop In-House LabelsLate last month, reports suggested that Apollo Global Management was prepping a nearly $2 billion bond offering powered by the song catalog of Concord. Now, Apollo says it’s sold $1.8 billion worth of bonds in “the largest asset-backed securitization offering of music rights in the industry to date.”The Story Continues Here.
 
Elton John Leaves Twitter Following Elon Musk Takeover
Elton John has announced he is leaving Twitter following Elon Musk’s acquisition of the platform. He cites the company’s new misinformation policy.The Story Continues Here.
Drake Surpasses Eminem as the Highest-Certified Singles Artist in History
Drake surpasses Eminem as the highest-certified singles artist in RIAA history, adding ten new plaques to his list of achievements.The Story Continues Here.
 
Justin Bieber Faces Lawsuit Over Promoting Bored Ape NFTsJustin Bieber, Madonna, The Weeknd, Paris Hilton, and more face a class-action lawsuit over promoting NFTs.The Story Continues Here.
 
Snoop Dogg’s ‘Snoop Loopz’ Cereal Forced to RebrandSnoop Dogg’s ‘Snoop Loopz’ cereal has been blocked and forced to rename by Kellogg’s Brands.The Story Continues Here. 
 
Connect Music Acquires London’s MTX Music, Outlines Broader Global Expansion PlansConnect Music, a self-described “US music monetization company that provides distribution and publishing administration services,” has officially kicked off an international expansion initiative with the acquisition of London’s MTX Music.The Story Continues Here. 
Austrian Collection Society (AKM) Joins the ICE CoreAustrian collection society AKM and its subsidiary Austro Mechana are the latest rightsholders to join ICE Core.The Story Continues Here.
Taylor Swift Announces Hollywood Directorial Debut with Searchlight PicturesTaylor Swift announces her Hollywood directorial debut with Searchlight Pictures using her original script. 
The Story Continues Here.
Chicago Art School Rescinds Honorary Doctorate Given to Kanye WestThe School of the Art Institute of Chicago (SAIC) has rescinded the honorary degree it bestowed on Kanye West. 
The Story Continues Here.
 
Roger Waters Releases ‘The Lockdown Sessions EP’Roger Waters releases ‘The Lockdown Sessions EP’ — but there’s still no word on Pink Floyd’s rumored $500 million catalog acquisition.The Story Continues Here. 
 
Most Read: Hipgnosis Refuses to Lower Catalog Valuation Despite Tumbling Stock Price, New Earnings Report ShowsHipgnosis Songs Fund (HSF), the publicly traded entity that’s spent billions on music IP, hasn’t materially lowered its catalog valuation despite suffering a stock-price decline throughout the past 12 months.The Story Continues Here.
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