Universal Music Group (UMG), the world’s largest music rightsholder, is reportedly in talks with music streaming service SoundCloud to discuss potential changes to the way artists are paid for streams. The discussions aim to conclude by the end of the year. UMG has also enlisted the help of consulting firm Bain & Co. to assess the commercial implications of different streaming royalty models. These talks with SoundCloud are part of UMG’s broader initiative to improve payment structures for artists and music rightsholders. Earlier this year, UMG partnered with TIDAL and Deezer to explore new streaming models that generate greater value for artists and recognize their contributions. Streaming has become increasingly significant for the music industry, accounting for 67% of global recorded music revenues in 2022, and 84% in the US. Establishing a business model that benefits both labels and artists, as well as streaming platforms, is crucial for the future of the music industry.
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Publishing administration is the process of collecting and distributing royalties for music that has been written, recorded, and published. This can include mechanical royalties from streaming and digital downloads, performance royalties from radio and live performances, and synchronization royalties from TV and film placements.
Customized publishing administration services can help musicians and music ministries take control of their music and ensure they are receiving all the royalties they are entitled to.
Some of the benefits of using publishing administration services include:
- Maximizing revenue: Publishing administration services can help ensure that all royalty streams are being collected and distributed properly, maximizing revenue for the artist.
- Copyright protection: Publishing administration services can help protect the artist’s copyright and ensure that their music is not being used without permission.
- Simplified accounting: Publishing administration services can provide detailed reports and accounting for all royalty streams, making it easier for artists to track their earnings and expenses.
- Customized services: Publishing administration services can be tailored to the unique needs of each artist, providing personalized support and guidance.
In summary, publishing administration services can be a valuable tool for musicians and music ministries looking to unlock the full potential of their music and ensure they are receiving all the royalties they are entitled to.
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