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 […]

Music Industry News

Music Publishers Score $189,500 Verdict Against Wolfgang’s Vault

(photo: David Veksler) A New York jury has ruled against Wolfgang’s, a vintage concert-footage restorer and merchandise distributor, and ordered the San Francisco company to pay several music publishers a total of $189,500. Though a district judge found Wolfgang’s — previously known as ‘Wolfgang’s Vault’ — guilty of copyright infringement in 2018, for hosting 197 […]

Music Industry News

The Average Canadian Songwriter Earned Just $67 Last Year from Domestic Digital Sources

photo: Annie Spratt SOCAN members — including songwriters, composers, producers, publishers, and other composition rights owners — received an average of $67 (Canadian dollars) for domestic digital royalties in 2019, according to the organization. SOCAN, a performance rights organization (PRO) that represents more than 135,000 Canadian songwriters, composers, and publishers, collected over $400 million (CAD) […]

Music Industry News

Reach Music Publishing Joins UK Digital Licensing Collective IMPEL

Reach Music Publishing, a full-service music publishing and artist representation organization, has joined IMPEL, a UK-based collective that negotiates e-licensing deals on behalf of rightsholders. The UK’s Music Publishers Association (not to be confused with America’s Music Publishers Association, as the two operate independently) founded IMPEL as a subsidiary, but the brand became a solo organization in 2018. […]

Music Industry News

Peloton Settles Ugly Copyright Infringement Lawsuit Involving 14 Music Publishers

Peloton has now settled its contentious legal battle against 14 different music publishers, a group corralled by the National Music Publishers’ Association (NMPA). Peloton shared news of the settlement with Digital Music News this morning, and publishers confirmed the news. The extremely contentious (and expensive) litigation started last year, with Peloton aggressively fighting back against copyright […]

Music Industry News

Music Benefactors Wants to Solve the Crowdfunding Riddle for Musicians — Introducing the ‘Artist Public Offering’

Matthew Lutz, Founder & CEO, Music Benefactors On November 14th, 2019, Taylor Swift wrote an open letter to the public, the music industry, and, most importantly of all, her many millions of fans. In it, Swift — who has sold over 50 million records and became a global sensation long before her 30th birthday — […]

Music Industry News

BMG Parent Company Bertelsmann to Become Carbon Neutral by 2030

Thomas Rabe (l), Chairman & CEO of Bertelsmann; and Immanuel Hermreck (r), Chief Human Resources Officer BMG parent company Bertelsmann has committed to becoming carbon neutral by 2030. The multibillion-dollar conglomerate announced the commitment via a formal media release. Bertelsmann also indicated that the initiative would be undertaken as part of Science Based Targets, a climate-awareness […]