CMU Digest

CMU Digest 29.09.17: Spotify, Fair Play Fair Pay Act, Dweezil Zappa, Bell Canada, Royalty Flow

By | Published on Friday 29 September 2017


The key stories from the last seven days in the music business…

Spotify is now being valued at $16 billion, according to sources who have spoken to Reuters. The streaming firm is still preparing for its direct listing on the New York Stock Exchange, but private trading in the company’s shares have seen the perceived value of the business increase from $13 billion to $16 billion this year. Some reckon the market-leading streaming platform could have a price-tag of $20 billion by the time it lists on Wall Street. The increased valuation is based on optimism in investment circles about the future growth potential of the streaming music business which, they hope, will ultimately see the currently loss-making Spotify cash in big time. [READ MORE]

Two more Congressman gave their backing to the radio royalties bill in the US.The proposed Fair Play Fair Pay Act would force AM/FM radio stations in America to pay royalties to artists and labels as well as songwriters and publishers. The lack of a general performing right for sound recordings that covers traditional radio is a quirk of American copyright law that the US broadcasters are lobbying hard to keep. Jim Cooper and Brad Sherman signed on as co-sponsors of the record industry backed Fair Play Fair Pay proposals this week. [READ MORE]

Dweezil Zappa posted a long update on his trademark dispute with the Frank Zappa Trust. Tensions have been mounting between Frank Zappa’s children, and especially brothers Dweezil, who regularly performs his father’s songs, and Ahmet, who heads up the trust that controls his father’s estate. The core legal dispute is over if and how Dweezil can use the trademarked Zappa name for his live shows. Dweezil posted the update in the wake of Ahmet’s announcement that the trust was planning a Frank Zappa hologram tour. [READ MORE]

Canadian tel-co Bell Canada proposed that the country’s government set up an independent agency to order web-blocks against copyright infringing websites. Internet service providers are usually resistant to the introducing of web-blocking, though reluctantly accept it once courts start issuing web-block injunctions. But Bell said it actively supported the anti-piracy tactic, and would back a government agency rather than a court of law doing the blocking. [READ MORE]

Royalty Exchange launched a new company called Royalty Flow that is giving investors the chance to get a share of royalties generated by Eminem’s recordings. Royalty Flow plans to buy royalty rights from artists and producers – rather than actual copyrights – providing said music makers with upfront cash in return for future royalty income. Royalty Flow’s first deal is with production duo the Bass Brothers, who get royalties from much of Eminem’s recordings catalogue. [READ MORE]

The big deals from the last seven days in the music business…
• 7digital announced a new alliance with Fender [INFO]
• Temasek bought into CAA [INFO]
• BMG acquired Immediate Music [INFO]
• Big Deal allied with Peermusic [INFO]
• Dualtone announced a deal with the Chuck Berry estate [INFO]
• Interscope re-signed Benny Blanco [INFO]
• Imagem signed Lyra [INFO]
• Warner/Chappell signed Rationale [INFO]

READ MORE ABOUT: | | | | | | |