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Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be 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 revenue and scale back their touring prices.
This week, US market monitor Luminate printed its Midyear Music Report, which reveals music consumption stats and listening developments for the US and globally from the primary half of the yr.
In line with Luminate’s report, on this planet’s largest recorded music market, america, on-demand audio streams grew 13.5% to achieve 616.5 billion in H1 2023.
Globally, whole on-demand audio music streams rose 22.9% YoY to 2 trillion.
Elsewhere, Hipgnosis Songs Fund (HSF), the UK-listed entity that owns stakes in over 65,000 songs, printed its monetary figures for FY 2023 (to finish of March 2023), revealing that its like-for-like internet revenues grew 10.9% YoY within the interval.
Additionally, Los Angeles-headquartered music distribution and funds platform Stem secured a $250 million credit score facility from Chicago-headquartered Victory Park Capital.
Plus, Common Music Group known as on US Congress to go new guidelines regulating AI, whereas AI music creation platform Mubert introduced that its AI has generated 100 million tracks – roughly equal to the whole catalog out there on Spotify.
Right here’s what occurred this week…
1) ENGLISH LANGUAGE MUSIC’S POPULARITY ON STREAMING SERVICES IS SHRINKING IN THE US… AND GLOBALLY.
In line with Luminate’s mid-year music report, in america, in H1, the streaming share of English language content material within the Prime 10,000 whole on-demand (audio and video) tracks was down 4.2% since 2021.
Spanish language music’s streaming share of the Prime 10,000 US on-demand (audio and video) tracks, however, has grown 3.6% in the identical timeframe.
Within the US, English language music’s streaming share of the Prime 10,000 US on-demand (audio and video) tracks was 88.3% in H1. Spanish language music had a 7.9% share of the equal metric….
Hipgnosis Songs Fund (HSF), the UK-listed entity that owns stakes in over 65,000 songs, noticed double-digit development in its newest fiscal yr – in what the agency calls its strongest FY efficiency since its IPO 5 years in the past.
HSF on Thursday (July 13) printed its monetary figures for FY 2023 (to finish of March 2023), revealing that its like-for-like internet revenues grew 10.9% YoY within the interval.
3) STEM RAISES $250M FROM VICTORY PARK CAPITAL TO EXPAND ARTIST ADVANCES
Los Angeles-headquartered music distribution and funds platform Stem says it has secured a $250 million credit score facility from Chicago-headquartered Victory Park Capital.
In line with Stem, its partnership with VPC, a world different funding agency specializing in personal credit score, will permit it to broaden its artist-advance product.
Together with advances for yet-to-be-released music, artists can even have the choice to take advances towards beforehand launched albums and songs, “presenting a variety of alternatives to assist their development”, Stem stated on Tuesday (July 11)…
4) UNIVERSAL MUSIC GROUP CALLS ON US CONGRESS TO PASS NEW RULES REGULATING AI
Common Music Group (UMG), the world’s largest music rights holder, has known as on the US Congress to enact legal guidelines defending creators and different rights holders towards copyright infringement by AI builders and customers.
At a listening to of the Senate Judiciary Committee’s subcommittee on mental property on Wednesday (July 12), Jeffrey Harleston, Common Counsel and Govt Vice President for Enterprise and Authorized Affairs at UMG, laid out three particular legal guidelines UMG wish to see enacted.
They embrace: A nationwide proper of publicity regulation; the power of copyright homeowners to see what has gone into the coaching of AI fashions; and the labeling of AI-generated content material…
5) 100 MILLION AI-GENERATED TRACKS HAVE BEEN CREATED BY MUSIC PLATFORM MUBERT
AI music creation platform Mubert introduced Wednesday (July 12) that its AI has generated 100 million tracks – roughly equal to the whole catalog out there on Spotify.
Mubert says the audio information had been generated “completely utilizing licensed music for enter.” The corporate says it has established relationships with music creators who contributed audio samples to its AI, permitting Mubert to create a database of two.5 million “proprietary sounds” on which it trains its algorithms…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and scale back their touring prices.Music Enterprise Worldwide
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