Day: 17 mars 2020

NBCUniversal is sending new films straight to digital rental

Here’s another example of how the coronavirus situation is impacting an entertainment industry: it’s smashing through Hollywood’s ‘theatrical window’ – the period at which new films are only available to watch in cinemas.
Studio NBCUniversal announced yesterday that its current slate of new films will be made available for on-demand (digital) rental at the same time they debut in cinemas.
“Movies will be made available on a wide variety of on-demand services for a 48-hour rental period at a suggested retail price of $19.99 in the U.S. and the price equivalent in international markets,” reported The Hollywood Reporter. “Insiders say it isn’t a blanket policy for the studio’s entire 2020 calendar and that decisions regarding other titles and the duration of the policy haven’t been made yet.”
The post NBCUniversal is sending new films straight to digital rental appeared first on Music Ally.
Source: Music ally

Eventbrite tears up its financial predictions for 2020

Ticketing firm Eventbrite has withdrawn its business outlook – the predictions for revenues, profits etc that public companies provide to analysts – in the light of the coronavirus-fuelled uncertainty around the live entertainment business.
CEO Julia Hartz described the situation as “unprecedented”. “The year started off strong across the board and we are now seeing a material impact to our business from the virus,” she said in a statement. “While the ultimate magnitude of this near-term impact is unclear at this time, we remain confident in our go forward strategy, our market position and the long-term demand for live experiences.”
In late February, Eventbrite issued its guidance for 2020, having grown its revenues by 12% to $327m in 2019. The company predicted net revenues of $84m-88m in the first quarter of 2020 – up 3%-8% year-on-year – and revenues of $342m-$359m for the full calendar year, up between 5% and 10%.
The post Eventbrite tears up its financial predictions for 2020 appeared first on Music Ally.
Source: Music ally

Years & Years & TikTok: capitalising on a viral hit

British band Years & Years swiftly set up a TikTok account at the end of last week – in a large part because their cover of 2003’s ‘Breathe’ (by Sean Paul ft. Blu Cantrell) from six years ago was having a viral impact on the app without any push from them.
They were able to capitalise on that to the point where the song had become the sixth most reactive song on Spotify UK at the beginning of last week. YMU, the band’s management company, began digging around to figure out what was behind this viral uplift and what they could do to capitalise on it, tracking down the original post from a TikTok user.
They then traced how the phrase “What’s that supposed to be about, baby?” from the song quickly became a catchphrase among users of the app to the point where the original sample has been used in over 1.2m videos. They saw a spike in Shazams of the song and Olly Alexander (lead singer of Years & Years) recorded his own video using the clip.
The post Years & Years & TikTok: capitalising on a viral hit appeared first on Music Ally.
Source: Music ally

More artists turn to livestreams amid coronavirus isolation

As the live-music shutdown continues, more and bigger artists have turned to livestreaming performances online as an alternative, if not (certainly not in terms of income) a replacement.
Neil Young is launching a ‘Fireside Sessions’ series of concerts broadcast from his home. As far as we can tell, the performances will be hosted on his own Neil Young Archives website, since (as his announcement reminded fans) he’s dropping Facebook “very very soon”. Coldplay’s Chris Martin streamed a performance via Instagram yesterday, as part of a new ‘Together, At Home’ partnership between the World Health Organization and Global Citizen. John Legend will be the next artist to take part, later today.
Meanwhile, US satellite-radio firm SiriusXM has announced that acts including Armin van Buuren, Afrojack, Martin Garrix and Major Lazer (all of whom were to play the now-cancelled Ultra Music Festival in Miami at the start of the month) will play DJ sets at the Ultra Virtual Audio Festival on limited-run channel UMF Radio which will be accessible from 20th March to 23rd March. Plus, artist Frank Turner is playing a three-sets concert later today from home, via his Facebook page.
The post More artists turn to livestreams amid coronavirus isolation appeared first on Music Ally.
Source: Music ally

Raine Group predicts recorded-income spike for indie artists

Investment firm Raine Group has a keen interest in the independent music and DIY artists sectors, having put funding into SoundCloud and Amuse, while advising Downtown on its acquisitions of CD Baby and Fuga. Now the company has produced a report claiming that the artists using these and other companies will see strong growth in their recorded music revenues this year.
“Our work suggests that the independent artist recorded music sector will achieve $2 billion in revenue in the calendar year 2020, representing approximately 9% of the entire global recorded music industry,” claims the report.
The specific figure is $2.12bn, up from estimated revenues of $1.61bn for these artists in 2019. These figures are broken down into three areas: artists using indie-focused distributors, including earnings from YouTube monetisation; artists using ‘mid-tail’ artist services companies; and sync / production music.
The post Raine Group predicts recorded-income spike for indie artists appeared first on Music Ally.
Source: Music ally

British music labels’ trade income grew by 7.3% in 2019

UK music industry body the BPI has published its annual figures for British labels’ trade income – the money that labels actually earn, rather than the ‘retail value’ of consumer spending on music that was reported by fellow body ERA earlier this year.
The unsurprising headline: more growth for labels. Their trade income grew by 7.3% in 2019 to £1.07bn (around $1.32bn), the fourth consecutive year of growth.
As in other countries, streaming was the main driver: British labels’ streaming income grew by 21.8% to £628.9m last year, and now accounts for 58.9% of their revenues – up from 51.9% in 2018.
Within that, labels’ income from streaming subscriptions grew by 21.7% to £568.8m in 2019. In its announcement of the figures, the BPI cited data from global body the IFPI and consultancy firm Media Research to suggest that by mid-2019 there were 19.6 million music subscribers in the UK.
The post British music labels’ trade income grew by 7.3% in 2019 appeared first on Music Ally.
Source: Music ally

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