Music Ally Startup Files: Freeme invests in Afrobeats’ bright future
Freeme – pronounced “free me” – is an independent distributor & label services company based in Lagos. Founder and CEO Michael Ugwu has international industry experience: he was previously general manager at Sony Music West Africa, and is the first Black person to be appointed to the Merlin Board.
As a business, Freeme has twin focuses: providing services in the Nigerian market, and acting as a bridge between Afrobeats culture and curious markets in the rest of the world.
Freeme has recently relaunched, with a new platform, Freeme+, providing A&R, marketing, sync licensing and publishing services for independent African rights holders. Freeme+ will operate under Freeme Digital’s new premium label services and distribution arm Freeme Music.
Ugwu’s explanation of what Freeme does is simple: “We offer access to the African content. We’re in Lagos, working with Afrobeats. Our focus is squarely on music of African origin. Our African DNA and roots makes us different, and we educate and guide clients across the industry.”
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Source: Music ally
IFPI report reveals 7.4% growth in global recorded music revenues
Global recorded music revenues grew by 7.4% to $21.6bn in 2020, according to industry body the IFPI, which has published its annual Global Music Report today.
That’s a deceleration compared to 2019, when the market grew by 8.2%, but with 2020 being the year of Covid-19, labels will see the latest figures as a success nonetheless.
It’s the sixth consecutive year of growth, and the highest annual total since 2002, when global revenues were $22.1bn.
Streaming was the driver for last year’s growth. Streaming revenues for labels grew by 19.9% to $13.4bn, accounting for 62.1% of the total.
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Source: Music ally
Ministers give their views at the UK’s music streaming inquiry
Yesterday saw the final hearing in the UK’s parliamentary inquiry into the economics of music streaming, but rather than music industry or tech executives being questioned, it was ministers and civil servants.
Caroline Dineage MP, minister for digital and culture at the Department for Digital, Culture, Media and Sport (DCMS) and Amanda Solloway MP, minister for science, research and innovation at the Department for Business, Energy and Industrial Strategy (BEIS) were the ministers, and they were accompanied by Robert Specterman-Green, director of media and creative industries at the DCMS, and Tim Moss, chief executive of the Intellectual Property Office (IPO).
Here’s Music Ally’s topline takeaway from the session, and the inquiry more widely. The committee of MPs conducting the inquiry seem to be leaning towards the Broken Record campaign’s view of streaming: that most artists are struggling; that major labels are market-dominating villains; and that ‘equitable remuneration’ (and perhaps user-centric payouts) could be a good thing. Oh, and that YouTube is a wrong ‘un, and safe harbour needs to be reformed.
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Source: Music ally