welcome to The music industry around the worldWeekly Recap – where we make sure you’ve caught the five biggest stories that have made headlines in the past seven days. The MBW Roundup is supported by Centtripwhich helps over 500 of the world’s best-selling artists maximize their income and lower their touring costs.
This week, Bad Bunny was named Spotifyis the world’s biggest artist for the third year in a row.
His music has been streamed over 18.5 billion times on the platform, which was DOUBLE his number of streams on the service this year compared to 2021.
Last year, Bad Bunny received over 9.1 billion streams, reaching that tally without even releasing an album in 2021.
By 2020, he had made more than 8.3 billion streams on Spotify before December 1st.
Also this week, Universal Music Group acquired a minority stake in an independent music company[[[[ISAP]for an undisclosed sum.
The transaction, which provides for the acquisition by UMG of a 49% stake in[[[[ISAP]Group, follows the formation of a global strategic alliance between the two companies in June 2021.
Meanwhile, the video-sharing social networking service Trillerthe American TikTok challenger, says he is exploring revenue-sharing deals with major labels.
According to a spokesperson for Triller, the platform is currently “evaluating” what it calls a “Spotify-like model”, which they add would include “revenue sharing versus large cash payments as our agreements are renewed”.
News of Triller’s rev-share plans comes the same day (Friday, Dec. 2) it was reported that Triller removed the catalogs for Warner Music Group, Sony Music Entertainmentand Universal Music Group, as well as for Merlinwhich represents leading independent labels and distributors.
Additionally, the UK’s competition watchdog found that major record labels were “not making significant excess profits which could be shared with creators”, while music audio streams crossed the line. $1 trillion mark for the first time in a single year in the United States in 2022.
Spotify announced on Wednesday (November 30) that Bad Bunny had become the service’s biggest global artist for the third consecutive year, after his music was streamed more than 18.5 billion times on the platform.
But that 2022 number is even more striking than it first appears – because the independent Puerto Rican superstar actually managed to DOUBLE his number of streams on the service this year compared to 2021.
Last year, Bad Bunny received over 9.1 billion streams, hitting that tally without even releasing an album in 2021…
Indie music giant [PIAS] revealed on Wednesday (November 30), that Universal Music Group has made a minority investment in the company.
The transaction, which provides for the acquisition by UMG of a 49% stake in [PIAS] Group for an undisclosed amount, follows the formation of a global strategic alliance between the two companies in June 2021.
In a letter sent to [PIAS]On Tuesday, November 29, the day before the announcement of the agreement, the founders of the independent company, Kenny Gates and Michel Lambot, presented the context and the reasons for their decision to enter into the agreement with UMG…
Video-sharing social networking service Triller, the US challenger to TikTok, said it was exploring revenue-sharing deals with major labels.
According to a spokesperson for Triller, the platform is currently “evaluating” what it calls a “Spotify-like model”, which they add would include “revenue sharing versus large cash payments as our agreements are renewed”.
Such a move by Triller would follow similar moves by companies like Meta, which announced a “revenue share” model for user-generated video content in July.
Meanwhile, Bloomberg recently reported that the three majors are currently asking Triller rival TikTok for a share of ad revenue generated on its platform as part of their deal negotiations.
News of Triller’s rev-share plans comes the same day (Friday, Dec. 2) it was reported that Triller had removed the catalogs of Warner Music Group, Sony Music Entertainment, and Universal Music Group, as well as Merlin, which represents labels and independent distributors.
It was a music industry survey that, for quite a while, rocked the major record labels.
But in the end, following an in-depth study of the local music market, the UK’s top regulatory competition watchdog concluded that the major record labels are “[not] likely to realize significant excess profits that could be shared with creators…”
US music audio streams just crossed the trillion mark for the first time in a single year.
That’s according to US market monitor Luminate (formerly CRM data / Nielsen Music), which revealed that the $1 trillion mark was crossed in the United States on Saturday, November 26.
That 1 trillion figure is up by 11.9 billion from 2021, when the annual tally of music audio streams in the US was 988.1 billion, according to data from Luminate…
