Are the USA and Europe diverging? What are the new economics of an artist?
Music 4.5 Licensing – USA & Europe will focus on the latest - differing - developments in the USA and Europe around licensing, music publishing, and royalty legislation.
Two key developments in particular are changing the market and the economics for both new artists and heritage artists, as well as for copyright owners. The Music Modernization Act, which combines key provisions of what were four separate legislative initiatives into a single bill to update how music rates are set and how songwriters and artists are paid, and the Copyright Royalty Board raising the (publishing) streaming rates by around 44% from on-demand subscription services in the USA. Meanwhile, the changes still don’t include terrestrial radio although services such as SiriusXM and Pandora are impacted - a specific US situation.
These changes and their implications, especially for publishing, raise the questions: is the USA starting to overtake Europe in terms of relevant and up-to-date licensing policies? And, if the business is the same but the formula is changing, what do these developments mean for new artists and heritage artists?
Music 4.5 Licensing – Are the USA & Europe diverging? What are the new economics of an artist? will explore questions such as:
- What are the global implications of the latest USA music licensing developments?
- In light of the likely and recent US changes, might Europe re-consider its recent shift away from Collective Licensing?
- How will the new US rate rises affect the streaming market?
- What do the changes mean for artists – new artists and heritage artists?
- As the major record labels represent approximately 80% of recorded music revenues globally on a distribution basis, but just 61% on a copyright ownership basis (MIDiA Research), what are the revenue and power implications for the labels of the recent changes?