US Causes Streaming Services To Charge More
The Copyright Royalty Board of the U.S. Library of Congress issued a written decision that altered the formulas used to determine how much of their revenue streaming companies must share with songwriters and the music publishing companies they typically hire to collect licensing fees on their behalf.
New Music From Prince To Release Soon
Prince may be dead, but his music certainly isn’t. The prolific musician, who died of an accidental fentanyl overdose in April 2016 at age 57, has a trove of unreleased music, and fans will soon get to listen to some of it, according to his estate adviser Troy Carter.
During an interview with Variety, published Friday, Carter said he and other members in charge of Prince’s estate have unearthed a plethora of songs hidden in the singer’s Paisley Park vault. And while he didn’t give many details about the tracks, Carter did note some of the never-before-heard material will be released soon.
Grammy’s Hidden Gems
the Grammys are also an awards platform that recognizes music in a wide range of categories, 84 in total, most of which never make it to the television screen (apart from a text scroll at the bottom). Often the nominees in the major competitions — album, song and record of the year — inspire loud debates, whether about the age of the nominees (generally older) or their race (generally white, though less so this year) or their gender (generally male).
They have a lot to toast: Spurred by streaming, people are paying for music again, and retail sales are climbing. Spotify, which brought on-demand, ad-free streaming subscriptions mainstream, is set to go public this spring, and might be worth $20 billion. Universal Music Group, the world’s largest label, might be worth more than that.
If you bet on the music industry’s recovery in the past few years, you are doing well. Here’s the party in a chart form, which tracks U.S. retail sales. A worldwide chart would show similar lines. Note that these numbers end at 2016, but once we get last year’s numbers, the streaming spike will be even more pronounced — sales were up 48 percent in the first half of 2017: