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Music Industry

Ticketing Exchange Platform Lyte Adds $15M In Funding

Ticketing Exchange Platform Lyte Adds $15M In Funding

Source: HypeBot

San Francisco based ticket exchange platform Lyte has secured $15 million in Series A financing to drive the development of the platform and scale operations. Jackson Square Ventures was joined by Industry Ventures, Accomplice Ventures, and Correlation Ventures to close Lyte’s latest funding round, alongside entertainment and technology industry insiders including Bernie Cahill and Greg Suess’s Activist Artist Management, Coelius Capital, former CTO of Pandora Chris Martin, co-founder of 99 Designs Matt Mickiewicz and CEO of Fresno Unlimited and Lyte board ...

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Music Industry

SoundExchange Payments Up 16.2% In Q1 2019

SoundExchange Payments Up 16.2% In Q1 2019

Source: HypeBot


Music Industry

SoundExchange Sues Music Choice For Royalty Underpayment

SoundExchange Sues Music Choice For Royalty Underpayment

Source: HypeBot

SoundExchange today filed a lawsuit against cable music platform Music Choice over underpaid royalties. The action comes after an audit of Music Choice's royalty statements.   SoundExchange Senior Vice President and General Counsel Colin Rushing issued the following statement about the lawsuit: “Music Choice's actions reflect a persistent effort to avoid paying royalties for its use of protected sound recordings.  Its creative accounting has cheated creators out of the royalties they are due and is inconsistent with the Copyright Royalty ...

Music Industry

SoundExchange 2018 Artist Payments Top A Record $953M

SoundExchange 2018 Artist Payments Top A Record $953M

Source: HypeBot

SoundExchange distributed $953 million in sound recording performance royalties to recording artists and rights owners in 2018, more than in any year their 15 year history. A strong fourth quarter distribution of $345 million to music creators helped put the PRO into record territory for the year. Thanks in large part to the passage of the Music Modernization Act, SoundExchange is predicting even bigger distributions in 2019. The MMA includes the CLASSICS Act, which guarantees federal copyright protection for sound ...

Music Industry

Royalty Exchange Passes $50 Million Paid Milestone

Royalty Exchange Passes $50 Million Paid Milestone

Source: HypeBot

Royalty Exchange announced this week that it had paid out over $50 million from 535 royalty transactions in the three years since the company relaunched in 2016. 255 investors participated in the funding. Royalty Exchange is touting the marketplace as a funding source for the musical middle class with 52% of the catalogs listed earning $20k or less in the prior 12 months. 75% of the artists who listed catalogs on our marketplace were songwriters. Initially, all listings on Royalty Exchange ...

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Radio

SoundExchange, SiriusXM Settle Lawsuit For $150 Million

SoundExchange, SiriusXM Settle Lawsuit For $150 Million

Source: HypeBot

SoundExchange and SiriusXM have settled their years-long litigation surrounding outstanding claims from January 2007 through December 2017 in exchange for a lump sum payment of $150 million. The preforming rights organization will distribute the settlement funds to the rights holders and artists whose sound recordings were used during the settlement period. SoundExchange had accused the satellite radio company of taking impermissible deductions and exemptions in calculating its royalty payments to digital audio performing rights organization. The company also allegedly failed ...

Career

4 Things You Can Giveaway In Exchange For An Email Address

4 Things You Can Giveaway In Exchange For An Email Address

Source: HypeBot

While Facebook should be an essential part of any music marketing plan, so much about this and any social network is beyond your control.  Remember MySpace?  But you email list is yours, and yours only.  Here's how to grow your email list: By  Chelsea Ira of New Artist Model on the Tunecore blog.  Email is one of the most effective ways to promote your music. But you’ve heard that a million times before, right? So today let’s start off by talking about the ...

Music Industry

Royalty Exchange Adds $6.4 Million Funding, 3 Industry Veterans To Advisory Board

Royalty Exchange Adds $6.4 Million Funding, 3 Industry Veterans To Advisory Board

Source: HypeBot

Royalty Exchange, a digital marketplace for royalties, has secured $6.4 million in funding, as well as added three new industry veterans to its board of advisors. The company had been seeking to raise $3 million, but said it increased its offering due to demand.  Royalty Exchange provides a platform for rightsholders to sell a part of their royalty stream in an online auction. Artists are allowed to keep full control of their copyrights in the transactions and can still collect ...

Music Industry

SoundExchange Royalties: The Producer’s Cut

SoundExchange Royalties: The Producer’s Cut

Source: HypeBot

Attorney and artists advocate Chris Castle lays out how SoundExchange deals with royalties due to the producers of the sound recordings to which they hold the rights, and how their share is calculated and paid. Guest post by Chris Castle of Music Technology Policy We often get questions about whether producers get a share of webcasting royalties.  Let’s get one thing straight first of all: SoundExchange deals with the limited performance right for sound recordings available in the U.S.  This is ...

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Career

How Royalties From SoundExchange Kept Our Band Together

How Royalties From SoundExchange Kept Our Band Together

Source: HypeBot

Here keyboardist Justin Wiseman of The Rocketboys reveals how royalties earned from SoundExchange helped revitalize his independent band in its darkest hour, and why other independent artists should make it priority to register with the service. Guest post by Justin Wiseman of The Rocketboys for SoundExchange I’m not saying anything that everybody doesn’t already know — being in an independent band is not always a gravy train of free pizza and PBR in hip rock ’n roll clubs in the ...

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