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RG Ingersoll's Hotrax Music Tips - US recorded music industry grew by $500m

 

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Music Business Worldwide: Newsletter

The US recorded music industry grew by $500m on a wholesale basis in 2022. The music publishing industry grew by nearly double that amount. Last Wednesday (June 14), the National Music Publishers' Association, led by President and CEO, David Israelite, held its Annual Meeting for 2023 in New York, where it presented an abundance of interesting information to its members. Said information included one huge stat for the music business: The overall trade revenue of US-based music publishers in calendar 2022 stood at USD $5.605 billion, up 19.25% YoY. Where that USD $5.605 billion revenue figure becomes extra interesting is when you compare it to what the US record industry turned over in 2022, via data from the NMPA's equivalent on the recorded music side, the RIAA... (Stat Of The Week suported by Cinq Music Group)

MBW Newsletter Sponsors Primary Wave: The Home of Legends. The world's leading independent publisher of iconic music CMS, CRM, Playlists, Royalty Accounting, Analytics: your music business all in one place The next generation label transforming viral moments into long term music careers.  Centtrip: The award-winning account for music payments, royalties, foreign exchange and touring expenses Viberate: Get premium music data analytics at an unbeatable price – $9.90/month! BandLab: Home to 60M creators making and sharing music without limits Voly Music The Bespoke Financial Management Platform for the Music Industry Rights & Royalties Done Right. Drive more revenue with Vistex Music Cloud. Technology + Infrastructure + Methodology ➡️ Execution = Results The complete royalty solution for labels and publishers Want your brand here? Contact Rebecca through this link...   Primary Wave acquires portion of 'Final Countdown' writer's publishing catalog Primary Wave Music has struck a deal with Joey Tempest, the lead vocalist of the rock band Europe, acquiring what it says is a portion of his music publishing catalog, encompassing five albums. The acquisition includes some of Tempest’s most popular tracks, such as The Final Countdown, Rock The Night, Superstitious, and his highest charting single in the US, Carrie, among others... (MBW)  Cinq Music invests in Street Mob Records, fortifying position in regional Mexican genre Los Angeles-headquartered music label, distribution and rights management company Cinq Music has announced a new partnership with Street Mob Records to grow its business in the booming regional Mexican genre. The deal – which includes an equity investment by Cinq into Street Mob – will see Cinq support Street Mob’s efforts to grow its artists’ exposure, discover new talent and release new music. Cinq described the deal as “the next move” in its “dominance of the white-hot regional Mexican genre...” (MBW) Sacem's revenues jumped 34% YoY to $1.49bn in 2022. How did that compare to other leading PROs? France's Sacem, the world’s oldest royalty-collecting cooperative, says it brought in EUR €1.413 billion (USD $1.489 billion) in royalties in 2022, a 34% YoY increase. This placed Sacem once again among the world’s leading royalty collectors, with annual revenues on a similar scale to those of the US’s BMI and ASCAP, Germany’s GEMA and the UK’s PRS For Music... (MBW)

MBW'S QUOTE OF THE DAY "To have met the great Jody Gerson who I’ve known of throughout my career as being a badass publisher and when I felt the love from her and Mike [McCormack], I wasn’t going anywhere else to be honest."   He'll go far, this one. Multi-platinum singer/songwriter (and ex-One Directioner), Niall Horan, celebrates inking a new global music publishing administration deal with Universal Music Publishing Group. Horan recently landed his second UK No.1 album as a solo artist with The Show, featuring co-writes from Grammy Award-winning UMPG songwriters Jimmy Napes and Tobias Jesso Jr...  (MBW)

SPONSORED SPOTLIGHT Announcing IC Full Service, the new royalty department in your back pocket, from Infinite Catalog. You might have better things to do than royalty accounting — we don't.  [Click here to find out more]

Don't miss: AI is an 'iPhone moment' for the music biz, and 3 other things we learned from Guy Oseary's interview at the NMPA's annual meeting One of the highlights of Guy Oseary’s appearance at the annual meeting of the National Music Publishers Association (NMPA) last week actually took place after Oseary left the stage. NMPA’s EVP and General Counsel, Danielle Aguirre, announced that a group of music publishers were suing Twitter for more than USD $250 million over “rampant infringement copyrighted music” on the platform. Following Aguirre’s speech, NMPA President and CEO David Israelite told the audience: “This is no joke, Guy Oseary just texted Elon Musk" – presumably on the topic of music licensing. Oseary’s impromptu involvement in the debate between music rightsholders and Twitter is a sign that you can take the exec out of the music business, but you can’t take the music business out of the exec... (MBW) Don't miss: Spotify to launch more expensive 'Supremium' tier that includes HiFi audio (report) Spotify is still yet to raise its standard $9.99 per month individual subscription price in the US, despite widespread calls to do so from multiple music industry leaders. But according to a new report, Daniel Ek's company is readying an entirely new, higher-priced subscription tier – including HiFi audio quality and expanded access to audiobooks. That's according to Bloomberg, which, citing people familiar with 'the strategy' reports that the new subscription plan is being referred to internally as the 'Supremium' tier... (MBW)

JOB OF THE WEEK Big Machine Label Group is hiring for a VP, Marketing/Digital based in Nashville. Must have strong knowledge of social media and online promotion strategies and have insights into market trends, developments and tools. Extensive knowledge of the music market is also required. Experience in Country is a plus. [Click here to find out more]

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