This is a review of some of the latest news happening in the Music Business world.
Facebook signs music license deal
So, I was doing my daily surf around the net and found out that Facebook is signing record deals! Yeah, that's right... but even more interesting are the people that they are signing with: one of them is Merlin. Right off the bat, I was intrigued by the fact that Merlin is a commercial agency (one of the biggest in the world) for independent artists. I'm all about independence with today's technology — the sky is the limit. Merlin happens to be, from the looks of it, one of those companies that really helps.
Earlier this week, Midia Research calculated that independent labels collectively generated $4.8bn in trade revenues in 2017, with self-releasing artists generating a further $472m.
Merlin currently controls around 12% of that independent label market. As far as the deal with Facebook, it looks like everything is all smiles and great news for the future. Independent artists will have an array of options to choose from on release, with the Facebook platform, Messenger, Oculus, and Instagram.
This is actually my first time hearing about Merlin, as well as Beggars Group. Probably because they are different genres than the music I usually enjoy? Or maybe i was under a rock
Music Modernization Act passes House of Representatives
(Source by Variety)
This is shaping up to be a day to remember! It looks as if legislature is starting to adjust to a new music climate, with streaming being the main reason.
Act passed the House Wednesday, paving the way for improved royalty payments to songwriters, artists and creatives in the digital era. The bill, HR 5477, passed unanimously with 415 votes. The bill is overwhelmingly supported by the music industry, and has bipartisan support in the house, where it was introduced by co-sponsors Robert Goodlatte (R-VA) and Jerrold Nadler (D-NY).
This is a big win for independent creators like myself! There is still a process before it is all finalized, as it has to go to Senate first, and hopefully will be in the next hearing by the Senate Judiciary Committee.
Sell your music with crypto using Feedband!
(Source by Feedbands)
With many currently existing music platforms not giving the artists proper compensation, and technology continually moving forward, it was only a matter of time until someone made a platform specifically for the artist. Feedbands is making their network their networth, by paying out over 90% of their income to artists.
The best part is that the payouts to artists are extremely favorable. According to the company, 99.99% of the earnings on a release go back to the artist — so effectively, $9.99 on a $10 album.
They're using two things to achieve this: vinyl and crypto. Feedbands offer a vinyl subscription that fans fund in a crowd-sourcing type manner. The artists receive cash, and their own vinyl pressings. Feedbands is powered by Dash, so you'll need a Dash wallet in order to purchase anything within the platform (besides the subscription.)
Check out STEM, and split your earnings with music collaborators easily
(Source by STEM)
Stem is creating an easy, streamlined way to split the royalty payouts between collaborators in a transparent way that also pays out monthly. You can upload your music via Stem and they will distribute it to all the DSPs they are affiliated with, like Apple Music, Spotify, Tidal, and Amazon. You can add shareholders (anyone from songwriters to engineers) and give them a portion of your earnings however you like. In return, Stem takes 5%; this is definitely something to consider, being that most distributors take around 15-20%. Give them a look! They have an extensive FAQ.
The music industry never ceases to amaze me. I always find little things like these that I can add to my arsenal, which may even change my career!
Stay tuned for more Music Biz. If you like what you see here, give it an upvote, resteem or comment to help show some support.
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