Shawn Dawes

You can also check the trailer here 🍿 #TransformersOne

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The UK just made it that much easier for producers to produce films and series. This incentive is in addition to the existing high-end TV and film tax credit. Can you say 53%? While LA industry continues to be ineffective in keeping any jobs, the UK will continue to foster and nourish the local talent. https://lnkd.in/g-iZjTC6

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This week's music industry news brings exciting developments on the technology front! Stability AI, the company behind the popular AI art generator Stable Diffusion, just launched Stable Audio Open. This free, open-source text-to-audio model caters to sound designers and musicians by allowing them to generate short audio clips (up to 47 seconds) based on simple text descriptions. Here's why this is a big deal: Stability AI trained the model using audio data from royalty-free libraries like Freesound and Free Music Archive. This ensures creators of the original audio samples are respected and properly credited. Being open-source allows anyone to download and use the model, fostering creativity and innovation in sound design. Additionally, users can fine-tune the model with their own audio data, making it highly customizable for specific needs. Stable Audio Open's release marks a significant step towards accessible and ethical AI-powered audio creation. Its impact on your field in the music industry will likely unfold in the coming months and years. https://lnkd.in/dFkGUrWC

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Very good news. Additional support for the creative sectors The measure The government announced a package of over £1 billion of additional tax reliefs for the UK creative industries together with additional support for the sector, including: a new UK Independent Film Tax Credit (IFTC); increasing the generosity of the Audio-Visual Expenditure Credit (AVEC) for visual effects costs; permanent extension of higher rates of tax relief for theatres, orchestras, museums and galleries; 40% relief from business rates for eligible film studios in England for the next 10 years; and £26 million of funding to upgrade the National Theatre’s stages and infrastructure. The Government also announced that the Tees Valley Investment Zone will focus on the digital and creative sectors. New UK Independent Film Tax Credit The new UK IFTC will provide a higher rate of credit of 53% for ‘independent films’ which pass a new test administered by the British Film Institute (BFI). The test is intended to target films that have projected core expenditure of £15 million or less and is expected to require that either key talent on the film, such as the director and writer, must be from the UK, or the film must be an international co-production. Films that do not qualify for the 53% rate for independent films can continue to claim AVEC at the basic rate of 34%, or the uplifted rate of 39% for animated films. Companies will not be able to claim both the IFTC and the additional relief for visual effects expenditure in respect of the same film. Increased support for the visual effects sector Following a call for evidence on the visual effects sector announced at Autumn Statement 2023, the government has announced that it will provide additional tax relief for visual effects costs in films and high-end TV. Under the AVEC, visual effects costs will receive tax credit at a higher rate of 39%, compared to the basic rate of 34%. The 80% cap on qualifying expenditure will also be removed for visual effects costs. A consultation will be published shortly on the types of expenditure that will be within scope of the additional tax relief.

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Last week the Financial Times reported that EU officials had said Labour's commitment to improve EU relations and ease touring barriers for artists and musicians was "not straightforward". We didn't think it would be, but we welcome the renewed focus on the issue of touring in Europe. This remains a critical topic for the UK's music industry, with cultural exchange between the UK and the rest of Europe essential in maintaining the continent's vibrant musical heritage and competitiveness. The Featured Artists Coalition (FAC) and MMF (Music Managers Forum) launched the "Let The Music Move" brand in 2021 as an umbrella for the music industry to unify and campaign on issues around touring. Its aims are as important today as they were then. The industry will continue to work with the Labour Government on fostering a new relationship with the EU and creating a more positive touring environment, to power the future of our sector. Thanks to James Hanley at IQ Magazine, Rachael Healy at The Guardian and Adam Sherwin at The i paper for discussing the topic. https://lnkd.in/e5qz73Aa

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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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Reform of Enterprise Investment Scheme (EIS) #eligibility rules for #film and #TV will probably not be announced in today's Budget, but a review should be carried out. Zygi Kamasa here echoing a conclusion from Ben Keen's recent report "Show Me the Money" for the #BritishScreenForum, which is campaigning to get changes made. “I wish the government would look at something like EIS again, because I keep coming across high-net-worth private investors where you could find five people to put in £500,000 each, and suddenly you’ve got £2.5m. EIS just helps with that, and it was completely cut off at the knees by the HMRC, partly because it was manipulated and abused by a lot of very clever accountants who then did it without risk." “The idea of EIS is that it has got to be risky, and film is as risky as they come, so it’s perfect for EIS. It would be great to bring private investors back into the [UK] industry.” Creative UK Creative Industries Council Department for Culture, Media and Sport HM Treasury HM Revenue & Customs

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Those Brexit benefits are really piling up now: EU rules out loosening post-Brexit curbs on UK touring musicians Archive link: https://archive.ph/3xJGM "Professional musicians have long called for a deal to cut post-Brexit red tape that requires them to obtain cultural performance visas and transport permits for their equipment, adding cost and complexity to securing gigs in the EU. But Brussels has said that such a deal is impossible because it would require rewriting the EU-UK Trade and Cooperation Agreement (TCA), according to internal briefing documents seen by the Financial Times." "They warned that some form of youth mobility deal allowing 18- to 30-year-olds to work and travel would be an “indispensable element” of any new pact with the UK. Starmer last week said “we do not have plans” for such a scheme but did not rule out signing an agreement in future." No luck with that cherrypicking then, Keir? https://lnkd.in/dsKsnkSY

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Universal Music (UK) is in the midst of significant transformations, with mergers and cost-cutting measures on the horizon. Sub-labels like Island Records and EMI are set to merge, along with 0207 Def Jam and Polydor in the UK. In the US, similar consolidations are already underway, with labels like Def Jam, Island, Mercury, Imperial, and Republic now under Republic Corps. Interscope, Geffen A&M, and Capitol Music Group have also merged under ICLG. These changes are likely to impact artists, possibly leading to lower budgets, staff reductions, and terminations. However, music enthusiasts may benefit from increased pressure on Universal artists to release music promptly as the label aims to uphold its roster. Stay tuned for updates on how these industry shifts will evolve. Exciting times are ahead in the music industry with these developments at Universal Music. What are your thoughts on the changing landscape? Share your insights on the potential implications for artists and the industry as a whole. #MusicIndustry #UniversalMusic #IndustryChanges

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I recently came across this article from Music Business Worldwide (MBW) mentioning that Roblox has struck a deal with DistroKid, enabling indie artists to distribute their music on the gaming platform, which boasts over 80 million daily active users. However, there's a significant drawback: these artists won’t be compensated for the use of their music. The partnership allows artists to opt into an invite-only beta program, where they grant rights for Roblox developers to use their music for free. Despite the exposure this deal offers, it raises serious concerns about fair compensation for musicians, especially as they must own 100% of their publishing rights and cannot be registered with a PRO like ASCAP or BMI. I find this particularly alarming considering Roblox recently broke its record for most concurrent players, with 10,208,350 people playing on August 18th at 1:00 PM ET. Despite this massive audience and the platform’s soaring revenues, forecasted to hit $3.5 billion this year, Roblox refuses to pay musicians fairly for their contributions. This situation highlights a growing concern within the industry: while platforms like Roblox offer unparalleled exposure, they often do so at the expense of fair compensation, leaving independent artists to question the value of such opportunities. What is your take on this? https://lnkd.in/gZYrNef8 #MusicBusiness #MusicIndustry #Roblox #Gaming #Fairplay

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Iger says it’s their “biggest foray ever” into gaming and now Disney is going to allow developers "the opportunity to create their own wholly unique Disney-themed gaming experiences" (see pocketgamer article in comments) Why is this significant? Well, the House of Mouse is the undoubted master of IP building and crucially of CONTROLLING how they’re managed. And whilst in these days of UGC platforms it’s not unusual for IP to be ‘borrowed’ by creators, this marks an acknowledgment by Disney that by ceding *some* control (amount tbc) it puts their characters and worlds into the hands of many more users and creators than ever before. It sounds risky handing over your IP right? Especially when you can’t fully dictate how it will be used? (Again, the extent to which Disney will hand over the reigns with their IP is to be revealed) but this marks an acknowledgement of the user-centric era that you may have heard me and others talk about. Joe Condon explains it eloquently in his excellent newsletter - also linked in comments. Disney opening up use of their IP is powerful because it unlocks: 💰‘Hands Off’ Marketing & Revenue Generation - in a simplified way, the beauty of UGC is that once all the assets have been created and the IP integrated into the platform, the power can be with the creators to do a lot of the heavy lifting in marketing the IP and building the experiences that can eventually drive revenue for your brand. It’s a win-win. Low-lift, large reach, and quick feedback on what’s resonating, and what’s not. 💭Insight into Crossovers & The Big Screen Implications - Disney has such diverse IP that it attracts audiences from Gen A to Baby Boomers. With Fortnite about to play home to a concoction of these IP, it’ll provide invaluable (and real-time) feedback on which of their IPs are resonating the most with Fortnite’s audience, and what crossovers are most popular. You’d imagine this insight will be helping to advise decisions at Disney around which of their IPs are worth funding for future films and crossovers on the big screen so they get the most bang for their buck.

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I read an article stating that "the association has brought together various individuals and companies in the music industry to form what it says will be 'a discussion network and the testing panels for some of the newest progressive technology ideas orbiting the music space.'" The traditional music industry is struggling to remain relevant, attempting to maintain a sense of importance and control over jobs and titles by forming alliances with other industry groups that clearly lack understanding of the Web3 music space. The facade is clear now. Throughout my life, I've been misled by the notion that these so-called "Respected Industry Executives" possess some superior knowledge. As I've matured, I've come to realize that this was never true. In the context of Web3 music, this reality is even more apparent. Web3 is an entirely new frontier, and the critical components of Web3 music are notably absent from this article. Prominent names and groups in the industry are quick to claim expertise, but their past and titles do not make them "EXPERTS" in Web3; they are simply misleading others down a future path of uncertainty. This is not the future of Web3 music. There is so much to learn. It's time to believe in yourself and stop believing everything you read and hear without critical examination. STAY POSITIVE!

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PPL, the UK’s music licensing company for recorded music, distributed over £103.7 million ($131.5 million) to more than 133,000 performers and recording rightsholders in Q2 2024, marking a 6% year-on-year increase and its first distribution surpassing £100 million. The growth is attributed to increased public performance licensing revenue and improved global data exchange. Notably, 1,200 members received their first-ever payment. PPL’s new Specially Featured Entertainment (SFE) tariff, implemented in 2023, boosted distributions by 20%. Additionally, international collections rose by 13%, with the first payouts from Guatemala included. https://lnkd.in/gpZsfxm8 #PPL #musicbiz

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