Music Industry News

ASCAP Still Not Paying Their Songwriters — BMI Paid Writers 3 Days Early

Businesses across America have only been closed for a few weeks — at most.  So why can’t ASCAP pay their own songwriters on 2019 performances? That’s a question that’s now being asked repeatedly, especially by songwriters who missed their expected April 6th ASCAP performance royalty distribution check.  But since we first reported on the ASCAP […]

Music Industry News

ASCAP Isn’t Paying Their Own Writers — Top Executives Are Getting Paid on Time

Is this really the best look for ASCAP? Several days ago, ASCAP CEO Elizabeth Matthews sent a shocking note to hundreds of thousands of member songwriters, composers and music publishers.  The email — almost immediately forwarded to Digital Music News by an irate member — stated that writers wouldn’t be receiving their checks on the […]

Music Industry News

SACEM Successfully Distributes $153 Million to Its Members

Just over one week after announcing a $6.6 million coronavirus relief fund, French royalty-collection society SACEM has distributed $153 million worth of royalties and aid to its members. SACEM announced the aid benchmark in a press release, which was shared with Digital Music News. The Paris-based organization reiterated its commitment to assisting members and helping […]

Music Industry News

Kobalt Music Publishing’s Annual Revenue Surges―But Losses Are Another Story

Kobalt Music Publishing experienced a major revenue uptick during the 2019 fiscal year, but the earnings boost was accompanied by substantial losses. According to a just-released earnings report for Kobalt’s 2019 fiscal year, which ended on June 30th, revenue increased by 64 percent from the 2018 fiscal year, to approximately $543.44 million. Additionally, Kobalt’s gross […]

Music Industry News

French Royalty Society SACEM Announces $6.6 Million Coronavirus Relief Fund

French royalty collection society SACEM has established a $6.6 million relief fund to support its members throughout the coronavirus (COVID-19) pandemic. SACEM’s board of directors met on Thursday, March 26th, to create the fund and a strategy for helping composers, songwriters, and music publishers. The $6.62 million in aid will be distributed on the basis […]

Music Industry News

Hipgnosis Songs Fund Stock Bounces Back After Near-20% Drop

The Hipgnosis Song Fund, which pools investments to purchase song catalogs, has experienced a solid stock-price rebound following a value decrease resulting from the coronavirus (COVID-19) crisis. Hipgnosis stock, traded under the symbol SONG on the London Stock Exchange (LSE), had held steady at an average per-share price of about £105 (approximately $126) since its […]

Music Industry News

BMG Posts a 10% Revenue Bump; Bertelsmann CEO Says Company ‘Well Prepared’ for COVID-19 Disruptions

Bertelsmann’s Gütersloh, Germany, headquarters. (photo: Steffen Krinke) On the heels of an encouraging 2019 financial report and increased BMG revenue, German media powerhouse Bertelsmann has signaled confidence in its ability to weather the economic impact of the coronavirus (COVID-19) pandemic. The 184-year-old company, which owns the RTL Group, Penguin Random House, BMG, and other well-known […]

Music Industry News

GEMA Launches Massive $43 Million Coronavirus Relief Fund for Songwriters

GEMA’s Berlin offices. (photo: Jivee Blau) German performance rights (PRO) organization GEMA has established a $43 million relief fund to support its member composers and songwriters financially during the coronavirus (COVID-19) pandemic. GEMA will distribute the massive aid package in two phases. The first will center on songwriters who also perform live, as coronavirus prevention […]