From the 120,000 tracks hitting streaming services daily to Universal’s AI sound partnership… it’s MBW’s Weekly Round-Up

Welcome to Global Music Businessour weekly roundup – where we make sure you’ve captured our five biggest headlines over the past seven days. MBW rounding is supported by Centtrip, helping more than 500 of the world’s best-selling artists maximize their income and reduce their touring expenses.

New stats arrived this week illustrating the growing volume of content being uploaded by likes Spotify, YouTube Music and other music streaming services every day.

According to Luminate (a provider of entertainment market insights and tracking once known as ) MRC . data and Nielsen Music), an average of 120,000 won ISRC (i.e. new music audio files) was added to music streaming services – across audio and video platforms – every day in Q1 2023.

If daily average new track uploads continued at the same rate 120,000 per day for the rest of the year, through the end of 2023, ending 43 million won New tracks will be uploaded to Spotify and other music streaming services this year.

That thing 120,000 won Average tracking per day increased from 93,400 on average of tracks uploaded per day in whole year 2022according to Luminate.

Also this week, Popular music group (UMG) has entered into a “first strategic relationship of its kind” with innovative AI audio health startup Endel to create what it calls “functional music made by AI-powered, artist-driven.”

Meanwhile, in time sony Group Corporation’s annual presentation to investors on Wednesday (May 24), Sony Music Corporation Chairperson Rob Stringer raised serious concerns about streaming fraud. He said streaming fraud “is a problem that needs to be eliminated”, while calling for better payouts from short-form video platforms.

More, sound cloud is reducing its current global headcount by 8%, while BandLab secured an additional $25 million in financing, valuing the company at $425 million.

Here’s what happened this week…

1) HOT 120,000 NEW SERVICES STREAMING EVERY DAY

A new set of statistics has emerged to illustrate how quickly new content is actually evolving on DSPs.

According to Luminate (an entertainment market insights and tracking provider formerly known as MRC Data and Nielsen Music), an average of 120,000 ISRCs (i.e. new music audio files) have been added to streaming services. music streaming – across audio and video platforms – every day in Q1 2023.

That adds up to a total of 10.08 million new tracks uploaded to services like Spotify, YouTube Music and other music streaming services in the first three months of the year alone, according to Luminate…

2) UNIVERSAL PARTNERSHIP WITH AI GENERAL STARTUP ENDEL TO CREATE ‘AI POWERFUL, ARTIST-CONTROLLED MUSIC’

Universal Music Group (UMG) has entered into a “first strategic relationship of its kind” with AI audio health startup Endel to create what it calls “functional music.” AI-powered, artist-driven capabilities.”

According to Endel, so-called functional music (e.g. music for sleep, jogging, relaxation, etc.) “represents one of the largest music listening subcategories worldwide, with an estimated 15 billion streams per month across all music platforms.”

Under this “groundbreaking” deal, the two companies will use Endel’s proprietary AI technology to enable UMG artists to “recreate” their music and create “scientifically based sound designed to enhance listeners’ well-being” using both new music and new versions of the music catalog…

3) ROB STRINGER SAY LIVE MUSIC SCAM ‘ IS A PROBLEM TO REMOVED ‘, CALLS FOR BETTER PAYING FROM SHORT VIDEO PLANTS

Sony Music Group President Rob Stringer has just added his name to a growing list of music industry leaders raising serious concerns about streaming fraud.

During Sony Group Corporation’s annual presentation to investors on Wednesday (May 24), Stringer called on digital service providers (DSPs) to enforce stricter enforcement – in addition, there is a potentially an anti-fraud transition to a new music streaming royalty payment model – to address what many see as the growing problem of illicit streams taking away revenue from artists. and rights holders.

“Fraud for DSPs is a problem that must be eliminated through strong enforcement by these DSPs and distributors or by changing payment methods. [i.e. royalty payout models] to better reduce the incentive to cheat,” Stringer said in his presentation… (MBW)

4) SOUNDCLOUD, PROFIT MONITORING, OTHER CUTTING 8% OF EMPLOYEES

SoundCloud is reducing its current global headcount by 8%, in a move that will result in around 40 layoffs at the company.

It is understood that the majority of layoffs at the company will take place in the US.

The news was confirmed on Tuesday (May 23) in an internal memo to employees from SoundCloud CEO, Eliah Setonobtained by MBW….

f5) BANDLAB raises another $25 million, valuing music creation company at $425 million

Singapore-based BandLab Technologies, the parent company of social music creation platform BandLab, has raised an additional $25 million in a Series B1 funding round, valuing the company at $425 million.

This latest investment follows the company’s successful Series B round in April 2022, in which BandLab raised $65 million and achieved a post-funding valuation of $315 million. …

MBW’s weekly summaries are powered by Centtrip, helping over 500 of the world’s best-selling artists maximize their earnings and reduce their touring expenses.Global Music Business