The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.
The early days of the metaverse look primed for music
The metaverse naysayers are out in force. But while it’s evident that the development brakes have been applied and that the investment money is being steered toward headline-making artificial intelligence (AI), the virtual world remains in the making. Innovation-driven music companies and artists continue to move and shake in the metaverse and develop innovative new things to do there. Even though it is all rather piecemeal at the moment, metaverse activity does seem to draw the crowds. Look for gaming platforms such as Roblox, Fortnite, and The Sandbox to remain at the leading edge and for music companies and artists with real metaverse ambitions to engage in experimentation in what are emerging virtual worlds.
Mixed second quarter for WMG with growth for publishing but underperformance for recorded-music
WMG has reported financial details for the second quarter (January to March) and first half (October to March) of its 2023 financial year. In a marked downturn in fortunes to this time last year, recorded-music revenue was down at current exchange rates, with only licensing registering growth in the two periods. WMG said a light release schedule was the reason for the disappointing results. However, the company said it was expecting things to pick up in the second half of the financial year due to a more robust schedule, including the return of worldwide superstars and new artists breaking globally. Publishing had a positive quarter and half year, with streaming, performance, and mechanical all registering growth.
KODA reports record year for collections, with performance sectors back in business
Danish authors’ society KODA has published its annual report for 2022. In what was a good year all round for collections and distributions, total income rose for the second straight year after suffering a dip in 2020. Moreover, revenue for the society hit a new record high. Although overall broadcasting receipts were down, radio income edged up. Online again saw an uptick in receipts, with collections from both music and video streaming services boosting the total. Most notable in last year’s results was the return to growth for the performance sectors. Live music income more than doubled as concerts and festivals made a return after a two-year absence. Revenue from music users such as hotels, restaurants, and workplaces also rose sharply, while online collections grew year-on-year, with the total boosted by international online use.
Canada country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Canada music industry report. Canada is one of the world’s bigger music markets. Although an ever-present in the top 10, the country has slipped a couple of places in recent years, with South Korea and China registering higher annual gains in trade sales. Last year, however, Canada maintained its position as the eighth-biggest recorded-music market, although the gap on ninth-placed Brazil narrowed. Recorded-music consumption levels were up in 2022, along with retail sales. Streaming registered healthy growth, with increases in both subscriptions and advertising. Performance rights edged up after two years of decline, while synchronization revenue increased at the highest rate of all the different recorded-music income sources. UMG remained the distribution leader despite a dip in market share. Both SME and WMG saw their shares increase. SOCAN is yet to publish its financial results for 2022. Collections for the collective management organization (CMO) returned to growth in 2021 after suffering a dip in 2020. Canada’s live sector is continuing on the long road to recovery after the impact of the COVID-19 pandemic shuttered the sector for almost 18 months. However, estimates suggest it will take several years for ticket sales to return to prepandemic levels.
If you would like more information about the newsletter or to set up a subscription, then send us an email Alternatively, if you would like to download a sample copy, just go here.
.wordads-ad-wrapper {display:none;font: normal 11px Arial, sans-serif;letter-spacing: 1px;text-decoration: none;width: 100%;margin: 25px auto;padding: 0;}.wordads-ad-title {margin-bottom: 5px;}.wordads-ad-controls {margin-top: 5px;text-align: right;}.wordads-ad-controls span {cursor: pointer;}.wordads-ad {width: fit-content;margin: 0 auto;}
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://musicandcopyright.wordpress.com/2023/05/09/new-issue-of-music-copyright-with-canada-country-report-9/
