This guest column is by David Martin, CEO at the Featured Artists Coalition, and Annabella Coldrick, CEO at the Music Managers Forum:
Whether it’s COVID 19, Brexit, the yearning for live shows and international touring, the economics of streaming, or the constant battle against inequalities, there’s a lot going on in the music industry right now.
The news cycle has been unrelenting, and it’s little wonder that trade bodies like ours have experienced such a substantial increase in membership. People need help and support and, in a business hit harder than most, there’s a lot of fires to attend to.
The current debates around livestreaming touch upon many of these issues, and it’s why the FAC and MMF have been so vociferous about potential changes to the licensing regime – ever since we became aware late last year of PRS for Music’s intention to impose retrospective tariffs, rising as high as 17% of gross revenues on ticketed online events. (Compared to 4.2% of gross ticket sales at a normal “in-person” live show.)
In the middle of a pandemic – with artists and live industry workers being absolutely decimated financially, and with livestreaming offering one of the only mechanisms to perform in front of an audience – the difference felt pretty staggering.
The post FAC and MMF on livestreaming tariffs: ‘We need to talk!’ appeared first on Music Ally.
Source: Music ally
The music industry has got quite… well, let’s say “excited” about Non-Fungible-Tokens (NFTs) in the last couple of months. The headlines have been breathless and the figures eye-popping. Grimes sold $5.8m of NFTs in 20 minutes! 3lau sold 33 NFTs for $11.6m! The former boss of T-Mobile US paid Steve Aoki $888,888.88 for an NFT called ‘Hairy’! STONKS!
The hype is real. Twitter hosts – what else? – endless threads of people shouting at one another about the true nature of NFTs, while Clubhouse is home to many NFT and crypto-art clubs.
In calmer parts of the music business, experienced thought-leaders are convinced that NFTs are incredibly important. Shara Senderoff, president of music/tech investment firm Raised In Space, speaking at the NY:LON Connect conference in January, correctly predicted that NFTS were a trend about to “blow up”, due to the, “ability for a fan to purchase an asset that is scarce, that is limited, that is exclusive, and has potential offerings tied to that that make them as a loyal fan feel unique, feel rewarded.”
The post Music and NFTs are buzzing, but should you believe the hype? appeared first on Music Ally.
Source: Music ally