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LATEST ARTICLES

No Fakes Act Reintroduced in Congress

Jason Tate

Variety:

The Recording Academy’s Grammys on the Hill Advocacy Day culminated on Wednesday with a press conference on Capitol Hill with Senators Chris Coons (D-Del.) and Marsha Blackburn (R-Tenn.) and Reps. Madeleine Dean (D-Pa.) and Maria Salazar (R-Fl.) to announce the reintroduction of the “NO FAKES” Act, standing for “Nurture Originals, Foster Art, and Keep Entertainment Safe.” The bipartisan, bicameral bill is intended to advance creators’ rights by protecting their voices and likenesses from the unauthorized creation and use of digital replicas. Also at the press conference were stakeholders from the Human Artistry Campaign – where the Academy is a founding member – along with Google, MPA, RIAA, SAG-AFTRA, and YouTube.

U.S. Reaches 100 Million Paid Music-Streaming Subscribers

Jason Tate

Variety, reporting on the RIAA’s 2024 data:

For the first time, paid streaming subscriptions hit the 100 million mark in the U.S. last year, while vinyl sales continued their nearly two-decade resurgence with $1.4 billion in sales, according to Recording Industry Association of America’s annual recorded-music revenue report.

Despite that milestone, streaming growth continues to slow — it was up just 4 million for the year, continuing a slowing trend over the past five years.

And:

Meanwhile, vinyl’s 18th straight year of growth scored nearly three-quarters of physical format revenue at $1.4 billion — the highest since 1984. For the third consecutive year, it outsold CDs, shipping 44 million vinyl records compared with 33 million CDs.

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Explaining the RIAA’s Lawsuit Against AI Music Startups

Legal
Jason Tate

Devin Coldewey, writing for TechCrunch:

Like many AI companies, music generation startups Udio and Suno appear to have relied on unauthorized scrapes of copyrighted works in order to train their models. This is by their own and investors’ admission, as well as according to new lawsuits filed against them by music companies. If these suits go before a jury, the trial could be both a damaging exposé and a highly useful precedent for similarly sticky-fingered AI companies facing certain legal peril.

The lawsuits, filed by the Recording Industry Association of America (RIAA), put us all in the uncomfortable position of rooting for the RIAA, which for decades has been the bogeyman of digital media. I myself have received nastygrams from them! The case is simply that clear.

RIAA Share Mid-Year Revenue Report

Money
Jason Tate

The RIAA have released the 2023 mid-year report:

In the first half of 2023, recorded music revenues continued to set new milestones and reflect the results of more than a decade of industry transformation. Total revenues grew 9.3% at estimated retail value to an all-time first half high of $8.4 billion. At wholesale value, revenues grew 8.3% to $5.3 billion. Paid subscriptions continued to be the strongest driver of revenue growth, increasing by more than $550 million and averaging nearly 96 million subscriptions during the period.

RIAA Releases 2021 Revenue Stats

Jason Tate

RIAA:

In 2021, recorded music revenues in the United States grew 23% to $15.0 billion at estimated retail value. All major formats of music grew versus the prior year with the exception of digital downloads. Paid subscriptions continued to be the biggest growth driver, resulting in the sixth consecutive year of growth for music revenues. At wholesale value, 2021 revenues were up 22% to $9.8 billion. On a nominal basis, these revenue levels exceed the record high of $14.6 billion reported in 1999, but adjusted for inflation 2021 figures remain 37% below that value level.

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