By Ivan L. Pitt
This publication discusses the economics of the track within the context of the altering panorama led to by means of innovation, technological switch, and speedy digitization. the power of electronic know-how to minimize the transaction charges of track copyright licensing has all yet destroyed the conventional media company types of incumbent functionality Rights businesses (PROs), track publishers, checklist labels, and radio and tv stations. In a weather the place streaming companies are speedily proliferating and shoppers favor subscription types over direct possession, new company types, similar to direct licensing, are constructing. This ebook presents an summary of the economics of the normal song undefined, the technology-induced alterations in company versions and copyright legislation, and the position of publishers, copyright holders and songwriters within the rising direct licensing version. partly One, the writer examines the commercial elements of direct licensing as a substitute to the normal blanket license for copyrighted musical compositions, with an emphasis at the usually monopolistic nature of execs. partially , the writer makes a speciality of the tune writer and the position direct licensing and festival could play within the altering company versions within the track and the capability advantages this can deliver to copyright holders, corresponding to songwriters. to go with this version, the writer proposes a greatest statutory fixed-rate for musical performances to additional streamline the royalty strategy, specially the place vendors corresponding to Google and YouTube are involved. This e-book provides to the transforming into physique of literature at the economics of track licensing within the electronic age. it will likely be priceless to these within the fields of economics and legislation, in addition to song executives, musicians, songwriters, composers, and different pros who're attracted to realizing how know-how, innovation and pageant have reshaped the song industry.
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Extra info for Direct Licensing and the Music Industry: How Technology, Innovation and Competition Reshaped Copyright Licensing
The users’ experience data, in most cases, is an important differentiator when there is no perceivable difference among the various features offered by smart phone manufacturers or even the music content available at music streaming services. The private information that is collected—which in 26 See Sisario (2014c). 27 See Sisario (2014b). 5 New Industry Structure 23 itself may be more valuable than the ads themselves—is then sold to third parties to be used for tracking and targeted advertising without the permission of users, a practice that some consumers may find objectionable.
Com/2013/9/16/4735512/eclipsed-by-rivals-rhapsodyreduces-staff-and-ousts-key-managers. html#axzz3L836mpOE. 22 See Johnson (2014) and Copyright Royalty Board (2012). Song Summer Dark Horse All of Me Waves Counting Stars Problem Timber Rude Fancy Am I Wrong Rather Be Chandelier Stay With Me Demons A Sky Full Of Stars Bad Pompeii Wiggle Riptide Radioactive Artist Calvin Harris Katy Perry John Legend Mr. Probz OneRepublic Ariana Grande Pitbull MAGIC! com/3590670/spotify. 80 Cum. 2 Who Is Really Getting Paid?
Overall, the US market is estimated to be around $14 billion in revenue from various sources— with a significant amount from royalty fees that is distributed by the PROs—and this figure excluded revenue from merchandising and other segments. SESAC does not disclose financial data and revenue numbers are not reported. 2 Who Is Really Getting Paid? There is an industry perception that the sound recording royalty payment (record labels) process is inequitable to the performance royalty payment (music publishers) process, and vice versa, depending who is collecting and distributing royalty payments.