From Epidemic Sound suing Meta/Facebook to new music ‘shrinking’… It’s MBW’s Weekly Round-Up
Welcome to Worldwide music businessWeekly aggregator – where we make sure you’ve captured the five biggest stories to make our headlines over the past seven days. MBW’s round-up is powered by Centtriphelping more than 500 of the world’s best-selling artists maximize their income and reduce their touring expenses.
This week, Translation audio – a Swedish ‘unicorn’ music company, valued at over $1 billion – File a lawsuit against Mark ZuckerbergTech giant Meta (pka Facebook) in U.S.A.
This has the potential to quickly become a big story in the global business industry.
In that lawsuit, Epidemic Sound alleges that both Facebook and Instagram hosting the pirated content of thousands of tracks owned by Epidemic.
The total damages sought by Epidemic are “no less” than $142 million.
“Meta has refused to participate in licensing with Epidemic, even though Meta has done so with many other rights holders,” Epidemic said in the lawsuit.
“Perhaps Meta is hoping to get out of it for as long as possible. Perhaps Meta is hoping that it will threaten a company like Epidemic to bow to Meta rather than suffer the disruption and expense of a lawsuit. Meta was wrong. “
That wasn’t the only story on the MBW pages that mentioned Epidemic Sound this week.
On Tuesday (July 19), we report EQT – a longtime investor in Epidemic – has acquired a minority stake in the talent agency UTA.
In other places, SoundCloud reached an agreement to bring ‘Fan Supported Royalties’ to Warner Music Group artists. (MBW wonder aloud if other major music companies – especially Universal Music Group – may prove more challenging to engage the model.)
More, MBW reported on Luminate’s data shows that ‘new’ music in the US has not only lost market share to ‘category’ music in H1 2022, but has actually shrunk in popularity.
Here are some of our biggest stories from the past five days…
1) Epidemic Sound hits Meta with $142 million lawsuit for alleged copyright infringement on Facebook and Instagram
Music producer based in Sweden Translation audio Won Facebook parent company Meta with a multi-million dollar lawsuit for allegedly “stealing” “thousands” of its works.
In a lawsuit filed in California on Wednesday (July 20), Epidemic Sound claims that its legal action is intended to “prevent the theft of music created by hundreds of musicians, songwriters and musicians.” , producer and singer. Its Facebook and Instagram social media platforms every day”.
2) It’s official: New music is SHRINKING popular in the US
Some will blame the lack of blockbuster records made during the pandemic. Some will blame the lack of modern superstars on the rise. And some (Hi Merck!) would blame the fact that young people – as evidenced by Kate Bush’s current world-beating popularity – simply enjoy ‘old’ music as if it were ‘new’ music. ‘.
But facts are facts: ‘Current’ music in the US isn’t just losing market share. It really gets statistically less famous.
3) EQT investors EQT buy minority shares in UTA
Things are getting a little cozy this summer.
We haven’t had a proper public drop out in the music industry for a while. But, steps up Triller.
This week, the US-based social video company published an open letter from CEO Mahi de Silva, urging “every American” to remove its TikTok rival.
The letter, in which Triller’s CEO “calls on every American to remove TikTok today and the US Government to take direct and overdue action to ban TikTok”, echoes security concerns raised by the US government. given by US officials.
4) About SoundCloud’s New Deal with Warner Music…
Warner Music Group agreed through ‘Fan Supported Royalties’ for your artists on SoundCloud.
Recognition is due to the SoundCloud team (specifically, we guess, the President and former Warner/ADA senior, Eliah Seton) to successfully negotiate such an important test case for FPR adoption.
It’s certainly a big win for SoundCloud and for its argument in favor of FPR.
Still, there are nagging questions about what happens next…
5) CEO News accuses major record companies of lobbying streaming platforms to reduce copyright rates for DIY artists
Are the major record companies trying to pressure music streaming services to pay DIY artists lower royalties than established superstars receive?
Based on Believe boss Denis Ladegaillerieyes, they are.
He claims that some majors are driving this change as “they have consistently lost market share over the last 5 years” due to the number of releases through DIY platforms.
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