Monty Sarhan

“The UK recorded music industry grew for the ninth consecutive year in 2023, bringing in £1.43 billion. Streaming and physical music saw growth, and the independent sector also enjoyed an increased share of album sales and streams. This is all according to a new stats pack from BPI The BPI has published its annual ‘All About The Music’ report on the British record industry's performance in the previous calendar year. The topline stat is that revenues grew by 8.1% in 2023 to £1.43 billion. That’s the ninth consecutive year of growth. According to the record industry trade group’s stats pack, more than half of that (58%) came from subscription streaming, sync and public performance combined contributed 13.6%, vinyl sales 9.9%, ad-funded audio and video streams 9.5%, and CDs 6.8%. Physical media actually saw stronger percentage growth than streaming last year, with CDs, vinyl and other formats all up individually, and collectively up 12.8% on 2022 - vinyl seeing the biggest jump, up 18.6% year-on-year. Streaming overall saw revenues rise by 8.4%, with ad-funded streaming growing fastest at 12.4%. In terms of actual revenues, physical brought in £243.4 million, while streaming generated £962.1 million. In terms of what people were listening to, Miley Cyrus came out top with her song ‘Flowers’, which enjoyed ten consecutive weeks at number one in the UK singles chart. This run helped female artists to score a record tally of weeks at the top of the UK top 40 - 31 out of 52 weeks. Women appear in seven slots in the top ten for the full year, including Raye, Taylor Swift, Ellie Goulding and SZA.” #BPI #UK #Streaming #Artists #StreamingRoyalties #Royalties #RecordedMusic #StreamingServices #StreamingMedia #MusicStreams #MusicRoyalties #Songs #Recordings #MusicBusiness #Music #Musica #MusicIndustry #Musique #Musik #MusicBiz

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A couple of months ago I posted about RIAA suing Verison. Last month Verizon shot back: https://lnkd.in/g23p4KSX What will be the end result of this “conversation’ playing out in court. In the long term. Is this a result of technology (streaming services) not addressing the problem that they were trying to solve? Perhaps this is a signal that further innovation is needed in how content is managed, distributed, and monetized online. There's a strong argument that, while tech helped create more accessible music platforms, it hasn't fully addressed the concerns of artists, songwriters, and other creators. Is this lawsuit an opportunity to revisit those revenue-sharing models and perhaps craft something fairer?  We want to move forward and not limit creativity as it seems the problem is still not solved. Where do we go from here?

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SiriusXM reported its Q1 earnings this morning, and the headlines are justifiably focused on its loss of subscribers (nearly 500k). Like all radio, its subscription business is highly vulnerable with the move to digital audio, especially in cars. But a bright spot? If you paid attention to Spotify's earnings, you wouldn't be surprised: "off-platform revenue." For SXM, this includes Pandora and podcast revenue, which saw a 7% revenue increase. During their investor call, they signaled the growth for podcasts, explicitly saying, "Podcasting revenue saw a 22% year-over-year lift in the quarter, while programmatic podcast revenue increased 12% sequentially and 97% year over year." I'd love to see SXM break out the podcast numbers even further, but if you look at what they do provide, it's easy to conclude that podcast revenue is growing much faster than other segments. For example, Pandora continues to bleed users (64k paid subs in Q1 alone), so podcast revenue seems to be the tide lifting all "off-platform" boats. When asked about their podcast initiatives, Scott Greenstein said, "One is, you know, the podcast thing and industry is really still in the second or third inning, so it's evolving." He is 100% right. SXM also signaled that it will continue to license more podcast content and is not closing the book on exclusive content. One more fun nugget: On today's call, podcasts were mentioned 30 times. Pandora was only mentioned ten times, SmartLess nine times, and Howard Stern... zero point zero. Where do you think their priorities are moving forward? Read more: https://lnkd.in/eRQTM2Kq ---- I'm the CEO and founder of DWNLOAD Media, a fund focused on acquiring majority stakes in podcast companies. With continued audience and revenue growth, podcasting continues to be the most under-valued medium, making it time to invest in audio. If you're interested in investing in the podcast space, DM me! #podcasting #audio #siriusxm #sxm #earnings #investor #investing #podcasts

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WATCH NOW ☕ Perception Box: Corner Office - Episode 2 💼 🌟 The Next Chapter in the Short Form Series Co-Produced with The The Wall Street Journal and Unlikely Collaborators 🌟 🔥 In this episode, sit down with another trailblazing leader, Bob Stiller, to explore what lies beyond the titles, achievements, and success. 💭 What happens when you challenge the stories you tell yourself? ✨ This series dives deep into the Perception Box, unearthing insights that redefine leadership and personal growth. 👇 Watch now and share: What’s a story you’ve had to reexamine and rewrite about yourself? 💬 #Leadership 💡 #SelfDiscovery 🔍 #PerceptionBox 🧠 #WSJSeries 🎥

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Paying out an additional £6 million (approx. USD $7.7 million) in royalties from online services - “UK-based royalty collection society PRS for Music says it will be paying out an additional GBP £6 million (approx. USD $7.7 million) in royalties from online services to songwriters and composers annually, thanks to a reduction in its administration rate. The collection society said it’s reducing its admin rate on multi-territory online (MTOL) royalties by 20% – from a 10% rate to an 8% rate – as a result of the CMO “surpassing its targets, delivering historic distributions and revenues, and becoming a billion-pound society.” Announced at its 2024 Annual General Meeting (AGM) today (June 4), PRS estimates the reduction will see £1.5 million more paid out to members in each of its quarterly royalty distributions starting from October this year.” #PRS #CMOs #UK #MusicRoyaties #Songwriters #Composers #MusicPublishing #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz

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“Music recording companies have been urging streaming services to raise their subscription prices for some time now, and over the past 18 months, they’ve succeeded, with most of the major DSPs hiking prices. Some in the music industry have hinted these price hikes – typically an increase of $1 per month for individual subscriptions – isn’t quite enough to keep up with inflation. But Sony Music Group Chairman Rob Stringer is setting his sights on another monetization goal: Getting the music streaming services to start charging for their ad-supported subscription tiers.” “The value of the paid music product remains incredible. And we appreciate that our partners recognized that with price increases over the past year. However, it also highlights that the price gap between free and paid has gotten wider in mature markets. We hope that our partners close that gap by asking consumers using ad-supported services to additionally pay a modest fee.” “Besides Sony’s take on ad-supported streaming services, here are five other things we learned from Rob Stringer’s presentation at Sony’s business segment meeting:” #Sony #SonyMusic #Spotify #AppleMusic #YouTubeMusic #Deezer #Streaming #Songwriters #StreamingRoyalties #Royalties #MusicTracks #MusicStreams #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz #DSPs #StreamingServices #StreamingMedia

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Live music's economic impact is undeniable, and the UK's live music industry reaching a record £6.1bn value in 2023 further solidifies this fact. While the reported value pertains to the top of the live music pyramid, platforms like GigPig play a vital role in the 'seed' sector, nurturing artists who later advance to grassroots venues. This progression is crucial as the 'seed' and 'grassroots' sectors contribute significantly to the economy, laying the foundation for the broader music industry to thrive. Amidst celebrating the positive impact of live music on the music sector, GigPig remains committed to championing the 'seed' level, which adds £2.4bn for venues and £1.3bn to the artist market. These contributions are instrumental in enhancing the economic prosperity of various UK towns and cities, underscoring their immense value often overlooked in the broader market landscape. Kudos to the LIVE (Live music Industry Venues and Entertainment) team and Jon Collins for revealing this pivotal data, showcasing the profound influence of delivering exceptional music experiences. #LiveMusic #EconomicImpact #MusicIndustry #GigPig #UKEconomy

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Sometime the losses are justified. Reporting losses for tax benefits or cancelation of productions in an effort to save money on new union laws. Increasing wages always reduces total jobs available. It's an economic impossibility to do other wise. (We did a live stream on that). Disney reported a loss last year but also spent nearly 10 billion buying majority share of Hulu. Their loss was almost the same as the purchase. All that to say it's not entirely corporate greed that got him a raise but his ability to cut and save the company money in the future at the expense of a temporary loss. The one thing we have to stop is the sin of envy and this idea that some people don't deserve what they are paid. Some do. John Williams SHOULD be paid more than a composer right out of film school and it's ridiculous to believe otherwise. The same is true for CEOs.

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Mission: Impossible—Troika Force Logline: In a world where media giants wrestle for dominance, Paramount Global entrusts its fate to ‘THE TROIKA’— 3 visionary leaders tasked with a high-stakes mission to rescue the studio from the brink. Through strategic cuts, covert partnerships, and bold innovations, they race against time to save PARA from collapse. Will they succeed in this epic quest, or will their efforts be the final act in a storied legacy? Originally seen as a temporary fix, ‘THE TROIKA’ is now set to steer the ship through some stormy seas and possibly redefine Paramount’s future. With PARA’S $14 billion debt & lagging stock, ‘THE TROIKA’ are tasked with making tough decisions, including significant layoffs & asset sales. Their goal? Transforming Paramount into a leaner, more agile company. Despite the unconventional setup and skepticism from some analysts, the team has a unified vision & close working relationship, always a good omen — if sustained. Cough. However, their success could end up paving the way for JUST 1 of them to take the helm — solo — eventually. #ParamountGlobal #Leadership #MediaIndustry #BusinessTransformation #filmindustry #entertainment #media #business #news

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“US music publishers are ready to “fight again” as they attempt to halt efforts by Spotify to reclassify its subscription package. The streaming service wants to say that its main subscription product is a ‘bundle’ of music, podcasts and audiobooks. This would allow it to pay less to songwriters. The campaign against Spotify’s sneaky audiobook bundling plans in the US is gaining momentum, with the boss of the National Music Publishers Association declaring “it’s time to fight again”, and the Association Of Independent Music Publishers committing its “unequivocal support” for the NMPA as it embarks on a “critical battle to prevent Spotify’s scheme from taking effect”…. Spotify has been reshuffling its range of subscription products in the US, so that there is one subscription option that offers music and podcasts, and another that offers audiobooks. Meanwhile, the existing premium subscription option - which includes music, podcasts and audiobooks - is being defined as a bundle of those two other products. That is important because of the compulsory licence that sets out the payments streaming services must pay to music publishers and songwriters in the US. That licence has provisions for bundles, meaning that if Spotify reclassifies its main premium subscription as a bundle it will reduce what it has to pay publishers and songwriters on its core product. It’s been estimated that this move could result in $150 million of lost revenue.” #Spotify #NMPA #AIMP #Streaming #Songwriters #StreamingRoyalties #Royalties #MusicTracks #MusicStreams #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz #CompulsoryLicense #US #MusicPublishing #CRB #DiMA #StreamingServices #StreamingMedia #MLC #Pandora

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MARTIN GROVE'S HOLLYWOOD REPORT FOR 11/17/24: RED ONE didn't deliver enough green ones to help cure the boxoffice pandemic that began with JOKER 2 in October.   This weekend's only wide studio launch, Amazon/MGM Studios' PG-13 action adventure comedy RED ONE, opened #1 to $34.1M, per Comscore, at 4,032 theatres ($8,451). Produced reportedly for $250M, it was directed by Jake Kasdan (JUMANJI: THE NEXT LEVEL) and stars Dwayne Johnson & Chris Evans. Its debut beats the $30M Hollywood handicappers were projecting Saturday, but it's still nothing for exhibs to feel good about.   Although ONE is a theatrical dud, it will likely work much better for Amazon as a streaming title with The Rock as a superstar magnet for subscriber eyes. ONE can live on for years as a Prime holiday classic -- whether it is or isn't -- for seasonal viewing as streamers doze on couches globally.   Internationally, ONE is being released by Warner Bros. and has done $50M since opening last week to avoid going head to head this weekend with Paramount's Ridley Scott heavyweight GLADIATOR II -- which ki ked off to $87M overseas.   ONE is tracking best for first choice with men over 25 (six points over norm) and next best with women over 25 (three points over norm). Rotten Tomatoes critics hate it at 33%, but audiences are happy at 89%.   While ONE's modest debut can’t be putting smiles on exhibitors' faces, at least they've got bodies in seats eating popcorn and other concession treats. Exhibs have to hold on until 11/22, when Universal/Marc Platt Productions' WICKED opens to what Hollywood buzzards say will be $80M or more. It's tracking best for first choice with under 25 women (13 points over norm). No scores yet on Rotten Tomatoes.   Exhibs' other big hope 11/22 is Paramount/Scott Free Productions' GLADIATOR II. Insiders expect $65M or more. It's tracking best for first choice with men over 25 (16 points over norm). Rotten Tomatoes critics are an okay 75%.   This weekend's domestic marketplace totaled $73.6M, per Comscore Senior Media Analyst Paul Dergarabedian, up 2% from the prior weekend and down 37% vs. this time last year. Comscore's year to date tally has 2024 at $7.08B, down 11.1% from $7.97B in 2023. The previous weekend in 2024 was down 11.4% vs. 2023.   Meanwhile, back at the multiplexes: Sony/Marvel's VENOM: THE LAST DANCE was #2 in weekend four with $7.4M (-54%) at 3,421 theatres ($2,150). It reportedly cost $120M to produce and has done $127.6M domestic.   Lionsgate/Comworld Productions' faith-based THE BEST CHRISTMAS PAGEANT EVER was #3 with $5.4M (-50%) at 3,020 theatres ($1,150). It's done $20M domestic.   Next weekend (11/22): WICKED + GLADIATOR II (see above) should pump a lifesaving $145M or more into domestic theatres.   (See more at www.ZAMM.com)   #movies #boxoffice #martingrove #redone                

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“Warner Music Group has sent a letter to tech companies declaring that its content can only be used to train AI with the music company’s permission. According to Warner’s letter, which can be read in full here, “All parties must obtain an express license from WMG to use… any creative works owned or controlled by WMG or to link to or ingest such creative works in connection with the creation of datasets, as inputs for any machine learning or AI technologies, or to train or develop any machine learning or AI technologies (including by automated means).” Warner’s move indicates that a common strategy could be blossoming amongst the major music companies in their approach to AI, after Sony Music Group sent a letter to some 700 AI developers and digital service providers (DSPs) in May. Sony notified those companies that it is officially “opting out” of having its proprietary content used in the training of artificial intelligence models.” Read the full article for more: #AI #ArtificialIntelligence #WMG #WarnerMusicGroup #Sony #DSPs #NMPA #EU #EuropeanUnion #SonyMusicEntertainment #Legal #IP #IntelectualProperty #Copyright #CopyrightLaw #CopyrightInfrigement #DerechoDeAutor #DroitdAuteur #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz #Creators #Songs #Composers #Songwriters #Artists #Suno #Udio #SoundRecordings #Tech #Technology #GenerativeAi #GeAi

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Super Exciting News 🚀 Sony Music has taken a significant step by creating "Rock Bidco" to bid for the legendary British rock band Queen's music catalogue, potentially one of the biggest music sales in history, valued at over $1 billion! 🎸🎶 "Rock Bidco" was incorporated on May 17 and is controlled by Tim Major, co-leader of Sony Music Publishing. With Queen's extensive catalogue including recorded music, publishing rights, merchandise, licensing, and revenue from the biopic *Bohemian Rhapsody*, this acquisition marks a monumental move for Sony Music. The band, once fronted by the iconic Freddie Mercury, has been in discussions with Sony and Universal Music for over a year. While Universal dropped out due to high pricing, Sony remains in the race, potentially working with another company to finance the deal. This follows Sony's successful $500mn-plus acquisition of Bruce Springsteen’s catalogue, co-financed with Eldridge Industries. As music rights become a sought-after asset class, this move underscores the growing value and lasting impact of iconic music catalogues. 🌟📀 Stay tuned for more updates as this story develops! #MusicIndustry #SonyMusic #Queen #FreddieMercury #MusicRights #BohemianRhapsody #RockLegends #IndustryNews https://lnkd.in/dKRJcaJi

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The new Goldman Sachs report is extremely positive and bullish on music revenue growth (& streaming price increases) with their latest 'Music In The Air' report just released. Goldman Sachs has raised its "2024-30 CAGR" (the compound annual growth rate from now until the end of 2030) for the global music market, from +7.4% to +7.6%, and included predicting +10% and +11% YoY growth for the recorded and publishing markets. Its prediction for the gross revenues of the global music market at the end of 2030 is $163.7bn (compared to $98.3bn for 2023). The report contains other analytic predictions that explain its confidence in future music industry growth. Those predictions are: further upcoming price increases for music streaming subscriptions (the company models an approximate 3% average annual price increase); the suspected launch of "super premium plans catering to superfans"; the anticipated adoption of artist-centric payment models by more streaming platforms; and the "development of a framework and monetisation avenue for the use of music content by Generative AI models." The latter, it believes, will come via commercial licensing agreements or new legal precedents. The publicly available version of the larger report is here: https://lnkd.in/eVMSBmb3

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Next round! Did you know that the music industry is proving to be a lucrative investment for funds? According to a recent article by Music Business Worldwide, the value of 1% in the Hipgnosis Songs Fund is worth a staggering $15.1 million. That's not bad at all! With Concord still bidding on the fund for $1.51 billion, it's clear that the value of music is not to be underestimated. #musicindustry #investmentopportunities #hipgnosissongsfund#musicacquisition#

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“The NO FAKES Act, which provides a new right to enable people to stop the unapproved use of their likeness and voice in the context of AI, has been introduced in the US Senate. There are restrictions on the assignment and licensing of the new right which artist groups in particular will welcome. The music industry has welcomed the introduction of the NO FAKES Act into US Congress, which will provide a new federal right under US law allowing people to control their likeness and voice in the context of AI, providing protection against unapproved deepfakes and voice clones. The entire industry has hailed the act and the new right it will introduce. However, artist groups in particular will welcome restrictions on the assignment and licensing of that right, keen to ensure that companies in the music industry don’t pressure artists into transferring control of their likeness and voice to business partners on a long-term basis. The proposed act was first outlined in a discussion paper last year, and has now been formally introduced in the US Senate by Senators Chris Coons, Marsha Blackburn, Amy Klobuchar and Thom Tillis. It is strongly backed by the Human Artistry Campaign, which says the proposed new law “sets a strong federal baseline protecting all Americans from the invasive AI-generated deepfakes flooding digital platforms today”. “From young students bullied by nonconsensual sexually explicit replicas of their likeness to recording artists and performers replicated to sing or perform in expressive works they never created or consented to”, it adds, “the NO FAKES Act provides a powerful and much needed new weapon in the fight to protect people’s images and voices from being stolen, cloned and misused”. For the entertainment industry, the new right will help performers stop the unapproved use of their likeness and image, but also help solidify a new revenue stream where performers allow business partners to utilise their likeness and image via licensing deals….” Read the full article for more: #AI #ArtificialIntelligence #Tech #Technology #IP #IntelectualProperty #GenerativeAi #GeAi #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz #USA #Legal #USCongress #Fakes #Likeness #Voice #AFOM #ASCAP #AAIM #BMAC #BMI #NMPA #RIAA #SAGAFTRA #SESAC #SoundExchange #NARAS

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Comcast's recent announcement of the StreamSaver #bundle with Peacock, Netflix and Apple TV + , marks a significant step forward toward "Cable 2.0" in the streaming industry - where streaming wars are moving from platform vs. platform, to bundle vs. bundle. The new offering, set to launch next week, packages Peacock's ad-supported premium tier with Netflix's basic ad tier and Apple TV+ for $15 a month, yielding savings of around 35% compared to subscribing to these services separately. Bundling provides consumers with a comprehensive entertainment package at a more manageable price, addressing the financial constraints many face when choosing between multiple streaming services. This approach mirrors the traditional cable bundles, making it easier for consumers to access a wide range of content. Media companies are under pressure from investors to scale their streaming services and achieve profitability, while also facing stiff competition from tech giants like Amazon and YouTube. These proposed ‘mini bundles’ not only offer a more reliable revenue stream for companies but also helps mitigate the issue of subscriber churn, which has been a persistent challenge in the industry. The entertainment industry is in a transition, with rising content costs and market saturation driving prices higher. Bundling services not only provides a more reliable revenue stream for companies but also helps stabilize the market by offering consumers more value. Unfortunately, this also means the end of the ad-free, a la carte offerings that many consumers have come to enjoy, as the focus shifts towards comprehensive bundles that limit flexibility but enhance overall value. #LITrendingTopics #StreamingWars #Bundling #SubscriberChurn https://lnkd.in/esZpwnEJ 

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