Hey folks! In my short amount of time on this earth, I've found that people in the music biz love when you know what's going on in the industry. Knowing what's going on shows that you're knowledgeable and invested in this business. Now, being the young hustlers that we are, we don't always have time to sit down and read some Billboard articles. Don't worry my fellow industry lovers, I've got ya covered. Here are some of the top news stories of this past week. You're welcome.
I know what you're thinking. "Janaye, did you really just bring Drake into this segment on industry news?" Why yes I did (don't worry, the rest will be "serious"). Once again, Drake proves his ability to be an unstoppable force in the music industry. Since releasing his Scary Hours two-track single, the track “God’s Plan” has set a new first-week global streaming record on Apple Music. Within this first week, the track received over 60 million listens and is currently set to be #1 on Billboard Hot 100 chart. Nothing warms my heart more than seeing Drake crush his opposition and dominate the airwaves.
Now, it is common knowledge that I think Lyor Cohen is a genius, so there's that. Ever since Lyor Cohen started steering the ship known as YouTube Music, I've only seen growth. I've also seen some really annoying ads, but that is totally beside the point.
One of the changes mentioned in the article, was that YouTube is rolling out their new Official Artist Channels. Yup, you read that right. Move over Vevo! Through the official artists channel, YouTube hopes to give artists control over their presence and the opportunity to engage directly with their fans through YouTube features like Community Posts, Mobile Live and Ticketing. Here's more information on that.
The other news is that YouTube has now become a registration agency for the International Standard Name Identifier (ISNI) system. This systems allows musicians and songwriters to be more effectively identified for proper attribution and royalty payments. For artists who do not have an ISNI number, YouTube will allocate a number for them and share them with any and all of the artist's business partners.
How do you run a record label with no budget? Kieron Donoghue, the former VP of Global Playlists Strategy at Warner Music, may have the answer. Introducing Humble Angel Records.
Humble Angel Records is a streaming-first, independent record label. Humble Angel will focus all of its marketing efforts on streaming, although the label will still make its releases available for fans to download. Also, the label contract will offer at least double the average royalty splits of what major labels provide, and will pay artists monthly instead of once or twice a year.
“The biggest lesson I learned was that you have to move fast,” says Donoghue. “You have to act fast to find new music and artists just as soon as they publish a song online -- act fast to reach out to them, put a contract together and then sign them. Major labels can take weeks if not months to negotiate terms, draw up legal papers and so forth, whereas Humble Angel Records is designed to do it in days, sometimes hours.”
Honestly, I think that this is the future of record labels and that's why I decided to share this article. Recently, many artists have ditched traditional retail approached and solely have released music and other content online (outside of merchandise on the road). Also, streaming labels offer agility and flexibility for artists that traditional labels cannot accommodate. I believe this won't be the last streaming label we see popping up.
Yesterday morning, the Copyright Royalty Board (CRB) confirmed it's decision to raise royalty rates to writers. This decision, which was the result of a trial last spring, dealt with compulsory mechanical rates. The updated rates will be distributed to writers for 2018-2022. Thanks to this ruling, the percentage of revenue paid to writers will increase from 10.5% to 15.1% over the next five years. This is the largest rate increase in the history of the CRB. This is definitely a win for songwriters everywhere!
Good job government!
Hope you guys enjoyed that and hopefully, feel a little more up-to-date with what's happening in the Music Industry. As always, follow me on Instagram and Twitter (@Supernaye) for more content and random posts. See you soon!