Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure 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 scale back their touring prices.
New stats arrived this week that illustrate the rising quantity of content material getting uploaded to the likes of Spotify, YouTube Music and different music streaming companies every day.
In line with Luminate (the leisure market monitor and insights supplier that was as soon as generally known as MRC Knowledge and Nielsen Music), a median of 120,000 ISRCs (i.e. new music audio recordsdata) have been added to music streaming companies – throughout audio and video platforms – per day in Q1 2023.
If the variety of common day by day new monitor uploads continues on the identical price of 120,000 per day for the remainder of the yr, by the top of 2023, over 43 million new tracks may have been uploaded to Spotify and different music streaming companies this yr.
That 120,000 track-per-day common is up from the 93,400 common tracks uploaded per day in all of 2022, in line with Luminate.
Additionally this week, Common Music Group (UMG) entered into “a first-of-its-kind strategic relationship” with generative AI sound wellness startup Endel to create what they name “AI-powered, artist-driven purposeful music”.
In the meantime, throughout Sony Group Company’s annual presentation to buyers on Wednesday (Might 24), Sony Music Group Chairman Rob Stringer raised severe considerations over streaming fraud. He mentioned that streaming fraud “is an issue that have to be eradicated”, and likewise known as for higher payouts from short-form video platforms.
Plus, SoundCloud is decreasing its present world employees headcount by 8%, whereas BandLab secured an extra $25 million in financing, valuing the corporate at $425 million.
Right here’s what occurred this week…
Credit score: Shutterstock
1) THERE ARE NOW 120,000 NEW TRACKS HITTING MUSIC STREAMING SERVICES EACH DAY
A brand new set of stats have arrived that illustrate simply how briskly the deluge of latest content material is definitely rising on DSPs.
In line with Luminate (the leisure market monitor and insights supplier that was as soon as generally known as MRC Knowledge and Nielsen Music), a median of 120,000 ISRCs (i.e. new music audio recordsdata) have been added to music streaming companies – throughout audio and video platforms – per day in Q1 2023.
That works out to a complete of 10.08 million new tracks uploaded to the likes of Spotify, YouTube Music and different music streaming companies within the first three months of the yr alone, in line with Luminate…
2) UNIVERSAL PARTNERS WITH GENERATIVE AI STARTUP ENDEL TO CREATE ‘AI-POWERED, ARTIST-DRIVEN FUNCTIONAL MUSIC’
Common Music Group (UMG) has entered into “a first-of-its-kind strategic relationship” with generative AI sound wellness startup Endel to create what they name “AI-powered, artist-driven purposeful music”.
In line with Endel, so-called purposeful music (e.g. music for sleep, working, rest and so on) “represents one of many largest sub-categories of music listening worldwide, encompassing an estimated 15 billion streams a month throughout all music platforms”.
Underneath this “groundbreaking” settlement, the 2 corporations will use Endel’s proprietary AI expertise to let UMG artists “reimagine” their music and create “science-backed soundscapes designed to boost listeners’ wellness” utilizing each new music and new variations of catalog music…
Credit score: Sony Music Group
3) ROB STRINGER SAYS MUSIC STREAMING FRAUD ‘IS A PROBLEM THAT MUST BE ELIMINATED’, CALLS FOR BETTER PAYOUTS FROM SHORT-FORM VIDEO PLATFORMS
Sony Music Group Chairman Rob Stringer simply added his identify to the rising variety of music business leaders elevating severe considerations over streaming fraud.
Throughout Sony Group Company’s annual presentation to buyers on Wednesday (Might 24), Stringer known as for more durable enforcement by digital service suppliers (DSPs) – plus, probably, an anti-fraud-minded change to a brand new music streaming royalty payout mannequin – to handle what many see as a rising drawback of illegitimate streams taking income away from artists and rights-holders.
“Fraud on key DSPs is an issue that have to be eradicated by way of aggressive enforcement by these DSPs and distributors, or by altering fee strategies [i.e. royalty payout models] to higher scale back the motivation for fraud,” Stringer mentioned throughout his presentation… (MBW)
4) SOUNDCLOUD, CHASING PROFITABILITY, CUTS ANOTHER 8% OF EMPLOYEE HEADCOUNT
SoundCloud is decreasing its present world employees headcount by 8%, in a transfer that can see round 40 folks laid off on the firm.
It’s understood that almost all of layoffs on the agency will happen within the US.
The information was confirmed on Tuesday (Might 23) in an inside memo to employees from SoundCloud CEO, Eliah Seton, obtained by MBW….
f5) BANDLAB RAISES ANOTHER $25M, VALUING MUSIC CREATION COMPANY AT $425M
Singapore-based BandLab Applied sciences, the guardian firm of social music creation platform BandLab, has secured an extra USD $25 million in its Collection B1 financing spherical, valuing the corporate at $425 million.
This newest funding comes after the corporate’s profitable Collection B spherical in April 2022, the place BandLab raised $65 million and achieved a post-money valuation of $315 million…
