This week, a lot has happened regarding the mainstream music industry platforms, including the ones helping with broadcasting, diffusion or even just offering some visibility.
#1. Songtradr acquires Bandcamp
Music licensing company Songtradr is acquiring Bandcamp from Epic Games, with plans to continue operating Bandcamp as an artist-first marketplace and music community. Bandcamp has over 5 million artists and labels using its platform.
The acquisition aims to support artists by offering them the choice to license their music for various media forms, while they retain control of their music rights. Epic Games is exploring potential collaborations with Songtradr to create a music inventory, allowing artists to opt-in to have their music licensed for use in Epic's ecosystem.
#2. Majors won’t rest against Musk
Major music publishers such as Universal Music, Sony Music, and EMI, are resisting Elon Musk, and assert that Twitter (or X) should be held accountable for the copyright infringement happening on its platform. All this despite Twitter's efforts to dismiss the lawsuit.
They argue that X Corp, Musk's company behind Twitter, has inadequately responded to takedown requests and lacks a proper policy for dealing with repeat offenders, leading to rampant music piracy. The music publishers claim that X Corp's dismissal request should be rejected, as the law does not grant immunity for streaming copyrighted works and the facts in the complaint are sufficient. The outcome of this legal battle will be determined by the District Court in Nashville.
#3. Spotify has a new strategy to go after radio
As radio audiences decline due to the rise of streaming platforms and podcasts, Spotify's new 'daylist,' tailors music playlists based on the time of day and user preferences. This poses a challenge to traditional radio programming.
While radio still maintains a dedicated audience, streaming services like Spotify are offering hyper-targeted, personalized music experiences that radio struggles to replicate. However, radio's communal and participatory nature remains a unique strength. Radio can further adapt by forming partnerships with other entertainment entities to offer promotion and curation with a trusted 'human touch,' ultimately competing with music streaming by making its content digitally accessible and audience-specific.
#4. Some good vision for Deezer & UMG’s deal on user-centric
4 influential independent music company leaders have shared their thoughts on the 'artist-centric' streaming royalty model proposed by Deezer and Universal Music Group.
According to what we’ve gathered, the demotion of "non-musical content" and differentiation between push and pull plays is a great advantage. However, the main music companies suggest additional components to make the model more ideal, and intensifying efforts to combat fraud, piracy, and non-music audio content's impact on subscription revenues.
Despite these suggestions, Kenny Gates, founder of [PIAS], supports Deezer's attempt to encourage active listening and mentions that [PIAS] artists could potentially earn 7% to 9% more from Deezer under the new model.
#5. SiriusXM is targeting their new audience
SiriusXM is revamping its user experience and app to enhance streaming audio, aiming to compete more effectively with digital music streaming platforms. The overhaul includes improvements in content management, search results relevance, and the addition of user profiles to offer a seamless listening experience.
SiriusXM's goal is to strengthen its position in the digital audio space and attract younger, diverse users by integrating popular podcasts, offering tailored programming, and optimizing its mobile app for a more competitive edge against streaming rivals like Spotify and Apple Music.