#Music Royalties

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Fed's Plan to Raise Interest Rates in 2023 May Not Slow Music Rights Acquisitions

The Federal Reserve's plan to raise interest rates in 2023 is unlikely to restraint investors' appetite for music rights, say experts. As recently as October 2020, the Fed said it expected to leave interest rates unchanged through 2023, but now -- faced with reigning in a booming economy and creeping inflation -- the Fed believes it will raise the benchmark rate from near-zero to 0.6%.
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Technologyhypebot.com

Spotify Greenroom showcases new kind of creator

In an effort promote its new Clubhouse competitor, Spotify Greenroom, the streaming service has created a new method for creators using the service to actually get paid. Spotify is really into audio other than music these days, and it’s latest venture into that realm is something called Spotify Greenroom, which is basically a knock-off of Clubhouse. In order to promote the new feature, the service has provided new and different ways for Greenroom creators to get paid, which may end up being a stroke of genius.
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Financial Reportsinsideradio.com

SoundExchange 2020 Report: $947 Million In Royalty Rates Distributed.

Digital music royalty collections agency SoundExchange distributed nearly $947 million in performance royalties during the fiscal year 2020 – a $39 million increase from 2019, which amounts to 4% year-over-year growth with an operating administrative rate of 5.3%. The organization, which collects and distributes performance royalties from non-interactive digital music...
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Religionaleteia.org

Catholic Song Contest invites all Christian composers to compete

Amateur Catholic songwriters are being offered a unique chance to have their music heard. This year, Point Clear Media, LLC is sponsoring a brand new competition for religious musicians: The Catholic Song Contest. The Catholic Song Contest is a competition with the goal of discovering great new Catholic music from...
Musicsocanmagazine.ca

Only Québec music to be used in Québec government buildings from now on

Quebec Culture and Communications Minister Nathalie Roy announced on Sunday, June 20, 2021, that only made-in-Québec music will be used from now on in the buildings of Quebec government ministries and public bodies. The Québec government’s decision is designed to officially promote the use of Québec music, in harmony with its aims to increase the value of Québec culture, and promote local economic activity.
Musicsocanmagazine.ca

Register now for SOCAN Foundation / TuneCore Creative Entrepreneur Summit for Emerging Music Creators

The SOCAN Foundation, part of the SOCAN Group of companies, has partnered with TuneCore, the world’s leading independent digital music distributor, owned by Paris-based Believe, to launch the Creative Entrepreneur Summit, an online, interactive event geared towards enhancing the business acumen of emerging music creators and industry professionals. The summit will be held on July 20-29, 2021.
Behind Viral Videosthompsoncitizen.net

TikTok strikes agreement over royalty payments for music used in Canada

TORONTO — Canada’s leading music reproduction rights agency says it has signed an agreement with TikTok that will see artists paid for use of their songs on the social media platform. The Canadian Musical Reproduction Rights Agency (CMRRA) says the multiyear partnership gives self-published songwriters and music publishers the ability...
Financial Reportshypebot.com

SoundExchange distributions grew 4% to $947M last year

SoundExchange announced today that despite the pandemic it had distributed $947 million in performance royalties to creators during the fiscal year 2020. That’s a $39 million increase from 2019, marking a 4% growth year-over-year with an operating administrative rate of 5.3%. The digital music PRO has distributed nearly $8 billion...
Financial Reportsmusictechpolicy.com

Press Release: @SoundExchange Releases 2020 Report Confirming the Company Distributed Nearly $1 Billion in Performance Royalties in Pandemic Year

WASHINGTON, D.C., June 22, 2021—SoundExchange today announced it distributed nearly $947 million in performance royalties to creators during the fiscal year 2020–a $39 million increase from 2019, marking a 4% growth year-over-year with an operating administrative rate of 5.3%. SoundExchange marks a new milestone, distributing nearly $8 billion in collections to creators since the company’s establishment in 2003.
Behind Viral Videosfyimusicnews.ca

CMRRA and TikTok Announce Multi-Year Partnership Agreement

The Canadian Musical Reproduction Rights Agency (CMRRA) and TikTok today announced an agreement for the collection of digital mechanical royalties in Canada, delivering a new revenue stream for music publishers and self-published songwriters. The new deal also accounts for TikTok’s past use of musical works and sets up a forward-looking...
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