Here is our brand new Weekly Roundup, and as you know, this week was the time to reflect with IFPI’s key numbers, but that’s not the only important thing that happened during the last few days. Let’s dive in together.
#1. The growth of the recorded music market in 2022
Let’s open the week with some important news for the music industry: the global recorded music market grew 9.0% in 2022! Indeed, the IFPI, an organization representing the world’s recorded music industry, published their annual report.
You’ll be able to find some interesting insights based on data in the report, including the increase of streaming revenue by approximately 10% since last year and reaching $12,7 billion overall, or the slow and steady rise of paid subscriptions (up to 589 million now). All in all, streaming music is now 67% of the global music market. Not too bad!
#2. Copyright & AI-assisted creation
AI continues to play an increasingly significant role in the sphere of music and creativity. See, the U.S. Copyright Office (USCO) had refused to issue copyrights for AI creations before. This was a decision based on the lack of "human authorship" in the content at hand. The USCO has now published additional guidelines on creations involving AI, taking a new step in the direction of copyrighted Ai content.
To give you a little bit of detail, their evaluations will now be based on case-by-case assessments. But one condition remains: a person needs to stay in charge and control the development process. Human creativity still has to be the main part of the work to make sure that the content can fall under Copyright.
#3. What is TikTok doing to counter a US ban?
TikTok’s CEO Shou Zi Chew recently appeared on the platform to comment on the possible ban in the US. In an attempt to smooth things over and stay active in the United States, the CEO showed up on TikTok to share an all-time high number of users on the platform which is now at 150 million. The argument was simple: if the ban goes through, a lot of creators might lose a stream of business. If this seems a little pushy, it’s because it really is.
Anyway, as FBI director Chris Wray told the Senate Intelligence Committee, the government of China still can ask the data to any company within its jurisdiction, including TikTok. Therefore the problem of user data safety is not solved at all.
#4. The license dispute between META and Italian SIAE
In recent days, Meta has removed a part of their available music catalog from its social media in Italy. This is not a bug of the app. It is META’s tactic to devalue the agreement on licenses with the Italian Society Authors and Publishers (SIAE).
According to SIAE, for months they have tried to find a fair agreement with META, obtaining only undignified proposals to their standards. And things got heated.
ICMP International Confederation of Music Publishers Managing’s Director John Phelan commented: “Meta must obey the law and take a full and fair license for the music it wants to use and profit from. If it does not, it is in breach of Italian and EU law, namely Article 17 of the EU Copyright Directive,”
#5. The US proposal for a tax on streaming services
It is well known that transport and in general all public services offered by the state need more and more funds. Funds from citizens' pockets never seem to be enough and at the same time the quality of public services is affected.
So, the only solution for some is to raise taxes. Exactly what could happen in the state of New York, where a new proposal was made about the introduction of 8% sales tax to digital media subscriptions like Spotify, Netflix, Audible and other streaming services.
You read it right: the city of New York is looking into taxing the main digital streaming services for transports and other public services provided by the city.