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From YouTube’s 80m Music and Premium subs to Meta’s 11,000 layoffs… it’s MBW’s Weekly Round-Up


Welcome to Worldwide music businessweekly recap – where we’re sure you’ve caught the top five stories that will 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.


YouTube revealed this week that it was paid an additional 30 million Music on YouTube and Premium subscribers in the past 13 months.

The platform’s subscriber count, which currently stands at more than 80 million paid subscribers (including trial listings), means it has added around 2.3 million subscribers per month since September 2018. 2021.

That 80 million+ subscriber figure is the second largest metric reported by YouTube in just two months. In September, the foundation announced that it paid the music copyright holder 6 billion dollars for the 12 months to the end of June 2022 – $2 billion increase over 4 billion dollars contribution to music copyright holders that YouTube says they paid for during the previous year period (12 months to the end of June 2021).

Writing in a blog post this week, YouTube’s Global Music Director Lyor Cohen attributed YouTube’s growth to a so-called ”dual engine of revenue – subscriptions and ads,” to which he added that “that’s the real deal”.

He also reiterated the platform’s ambition to be the number one revenue contributor to the music industry.

Elsewhere this week, Facebook parent company Meta announced that it is making 11,000 layoffs.

Founder and CEO Mark Zuckerberg explains that in an effort to “become more capital-efficient” the company has shifted its resources to “a lesser number of high-priority growth areas” including Meta’s AI discovery engine, advertising the company’s advertising and business background and what Zuckerberg says is the company’s “long-term vision for the metaverse”.

In addition, the three major music companies are said to be in the process of negotiating new deals with video-sharing platform TikTok, and they are promoting a share of advertising revenue on the platform, as reported by Bloomberg. .

Meanwhile, the new owner of Twitter, Elon Musk, in an interview at the Baron Investment Conference on Friday (November 4), said that he is considering introducing long-form videos on Twitter and allows creators to monetize their content.

Plus, we’ve announced all the winners from A&R AwardMBW’s annual UK-focused awards ceremony in association with Abbey Road Studios took place on Tuesday night (November 8) in central London.

Here’s what happened this week…


1) PREMIUM MUSIC AND SURPASS YOUTUBE 80M PAYING SUBSCRIBERS

YouTube has surpassed the milestone of 80 million paid YouTube Music and Premium subscribers worldwide.

(YouTube Music is available as a standalone subscription platform or bundled with a YouTube Premium subscription.)

That subscriber number, which YouTube says includes the trial list, hit 30 million (or 60%), up from the last publicly announced subscriber figure for YouTube Music, which was 50 million. , just 13 months ago…


2) ASK TIKTOK FOR SHARE ADVERTISING REVENUE IN NEW STORIES (REPORT)

Last month, MBW noted that the music industry could run into a dispute with TikTok over royalties.

We also asked if TikTok should follow Meta and commit to paying a flat percentage of its ad revenue to music industry copyright holders.

According to a new Bloomberg report, three majors, Warner Music Group, Sony Music Entertainment and Universal Music Groupis currently negotiating new deals with TikTok and they are asking for a share of the advertising revenue generated on the platform.


3) ELON MUSK SAYS TWITTER WILL ‘SHARE REVENUE WITH CONTENT CREATORS’. DOES THAT INCLUDES MUSIC?

Substantial change is taking place in the social media giant Twitter.

Within a week of closing a $44 billion acquisition of the company, Elon Musk has begun a major overhaul of the platform.

On October 27, Musk completed a private takeover of Twitter. He then went on to make sweeping changes at the company including widespread layoffs and the official announcement of a new subscription service called Twitter Blue, which will cost $7.99 daily. month, for a verification check mark and other features.

Looking at Twitter’s upcoming changes through a music industry lens, one of the most interesting updates is the news that Musk plans to offer monetization to “content creators.” through a new (unspecified) revenue sharing model…


4) MARK ZUCKERBERG EARN 11,000 LAYOFF AT META

Facebook’s parent company Meta is cutting about 13% of its global workforce.

The layoffs, totaling 11,000 layoffs, were announced by founder and CEO Mark Zuckerberg in a letter published Wednesday. He added that the tech giant will “cut discretionary spending and extend our hiring freeze through Q1.”

Writing to employees, Zuckerberg called the move “some of the most difficult changes we’ve made in Meta’s history.”

“I want to take responsibility for these decisions and for how we got here,” Zuckerberg said. I know this is difficult for everyone, and I am especially sorry to those affected…. “


5) A&R AWARDS 2022: ALL WINNERS

Well, that’s a bit special.

The A&R Awards, MBW’s annual UK-focused awards ceremony in association with Abbey Road Studios, took place on Tuesday night (November 8) in central London.

As we announced earlier this week, the A&R Icon Award – in recognition of the work of a career that has forever changed the face of the music business – has been collected by the legendary Island Profile founder, Chris Blackwell.

Blackwell, 85, was introduced on stage by Lyor Cohen, YouTube’s Global Music Director. A sincere and respectful video message to Blackwell from Sir Lucian GraingeThe President & CEO of Universal Music Group, was ushered into a closed room.

You can see the full list of winners from Tuesday night’s awards through here…


MBW’s Weekly Round-Up is powered by Centtrip, helping more than 500 of the world’s best-selling artists maximize their earnings and reduce their touring expenses.

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