Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make certain you caught the 5 largest 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.
There’s been quite a lot of vital numbers introduced this week. Did you catch all of them?
MBW reported on Common Music Group‘s freshly-announced Q1 2023 revenues (USD $2.62bn), in addition to Sony‘s music rights revenues in the identical quarter ($2.18bn).
We’ve additionally lined Consider‘s Q1 outcomes ($213m), in addition to new monetary figures from the likes of Epidemic Sound and YouTube.
This week began with some of the vital quarterly outcomes of all: Spotify introduced on Tuesday (April 25) that, as of the tip of Q1, it counted 210 million paying subscribers worldwide, in addition to 515 million month-to-month energetic customers.
Exterior of Q1 digits and greenback indicators, lots extra has gone on this week that’s worthy of your consideration.
For one factor, Common Music Group used its quarterly earnings name on Wednesday (April 26) to clarify its view that utilizing AI to imitate the vocals of superstars through their present recordings (prime instance: ‘faux Drake’) is towards the regulation.
Common EVP, and Chief Digital Officer Michael Nash, instructed analysts: “Particularly, soundalikes which serve to confuse the general public as to the supply or origin, or which represent a industrial appropriation of likeness within the type of a particular voice, are all clearly unlawful.”
Elsewhere this week, Main Wave made a serious transfer in India, investing in native rightsholder Occasions Music in a deal value $100 million.
Plus, Triller admitted legal responsibility in a breach of contract lawsuit filed towards it by Sony Music. Triller should now pay $4.57 million to the music firm.
Listed below are the largest headlines from the previous few days…
1) UNIVERSAL MUSIC GROUP: YES, RIPPING OFF DRAKE’S VOICE FOR THAT AI TRACK WAS ILLEGAL
Sir Lucian Grainge, CEO and Chairman, Common Music Group, stated: “Not like its predecessors, a lot of the newest generative AI [i.e. ‘fake Drake’ and ‘fake Bad Bunny’] is educated on copyrighted materials, which clearly violates artists’ and labels’ rights and can put platforms utterly at odds with the partnerships with us and our artists and those that drive success.
“Ought to platforms site visitors in this sort of music, they might face the extra duty of addressing an enormous quantity of infringing AI-generated content material.”
2) PRIMARY WAVE MAKES INVESTMENT IN INDIA’S TIMES MUSIC IN $100M DEAL
Main Wave Music simply made a big transfer in India’s music enterprise.
The corporate has struck a partnership with distinguished Indian document label and music writer, Occasions Music, a subsidiary of media large, Occasions of India Group.
The deal will see Main Wave make investments what it says is “important capital” within the firm and supply sources for “catalog investments” out there.
3) Triller to pay Sony Music $4.57m as video platform admits legal responsibility for breach of contract
Quick-form video service Triller has agreed to pay Sony Music USD $4.57 million in a court docket case introduced by the foremost music firm final yr for breach of contract.
Sony Music’s lawsuit claimed that Triller had missed a number of agreed funds all through 2022 for licensing the foremost’s music.
4) Ed Sheeran fights accusations of copying Marvin Gaye track in NY court docket: ‘If I’d finished what you’re accusing me of doing, I’d be fairly an fool.’
In court docket Tuesday, Sheeran defended himself towards the allegations. A lawyer for Townsend’s household, Ben Crump, performed a video for jurors displaying Sheeran performing Pondering Out Loud in a dwell present, and segueing into lyrics from Let’s Get It On.
Later, underneath questioning from legal professional Keisha Rice, additionally representing Townsend’s relations, Sheeran stated: “If I had finished what you’re accusing me of doing [i.e. copying elements of Let’s Get It On for Thinking Out Loud, then switching between both songs while playing live], I’d be fairly an fool to face on a stage in entrance of 20,000 folks and try this.”
5) SPOTIFY ADDED 5M PREMIUM SUBSCRIBERS IN Q1, TAKING GLOBAL SUBS TO 210M
Spotify‘s Q1 2023 outcomes are in.
The music streaming firm added one other 5 million web Premium subscribers to its person base in Q1 2023 (the three months to finish of March), taking its complete world paying subs viewers to 210 million.
These 210 million subscribers marked Premium Subscriber progress of 15% YoY, and was 3 million above the corporate’s steerage for the quarter.