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- Apple added 2M Apple Music subscribers in 2 months back in March/April
- Ben Schachter of Macquarie Capital thinks the service will average 40 percent yearly growth for the next three years
- Still says the business won't be as profitable as Apple's hardware
- High costs of royalties paid to artists and labels
- Still according to the RIAA in 2016 revenues were half of what they were in 1999, with CD sales.
- iTunes stopping selling music.
- As far as we know Apple pays out better then their competitors
- Data from the RIAA and the Trichordist (artist community blog)
- Apple pays about $8.00/per 1000 streams vs. about $4.00 for Spotify (average of about $6.00 on paid and $2.00 on free). Google and Amazon are $6.00 and $7.50 respectively
- Still Tidal is $1.30 per 1,000, but only has 0.50 percent of the market for streams vs. 10.5% for Apple and 47.78 percent for Spotify.
- Even still Apple's generated 22 percent of the market revenues despite having only 11 percent of the total streams.
- YouTube, popular among unsigned artists, only pays around $0.80 per 1000 streams.
- So how do artists make money in the era of streaming growth?
- What about songwriters?
- Copyright Royalty Board rules in January o increase songwriter rates for interactive streaming by nearly 50% over the next five years
- They don't get per stream but either 1) a percentage of revenue or 2) total content costs whichever is greater.
- Content costs are payments to label
Music Modernization Act
- Music Modernization Act, aims to do three things:
- Modernize music licensing
- Compensate "legacy artists for their songs service and important contributions to society"
- Allocate to music producers.
- Key provisions include the streamlining of the musical licensing system and royalty protection for music made before 1972.
- The bill seeks to combine legislation already in place in other laws
- the CLASSICS Act which applied to works written or recorded before 1972
- the Fair Play Fair Pay Act
- Musical Works Modernization Act for songwriters and publishers
- MP Act for producers and engineers
- For Apple and music streaming services the big deal is, if the act becomes law, as the streaming services comply with the law including establishment of a data base of authors and composers for all the music they host, they cannot be sued for damages.
- Apple the big music industry associations seem to support it and there, so far, hasn't been opposition from the streaming services.
Spotify changes to free service
- Allows free tier to listen on demand to songs on the 15 personalized discovery playlists (curated)
- They pay less to artists for free streams, about $2.11 per $1,000
- Does this matter? Seems like media made a bigger deal about it then it is.
Apple wants to be a little bit more Country
- Setting up shop in Nashville in an effort to attract more country artists to the platform
- Apple said stream of country music increased 66 percent in 2017 and it's "Pure Country" radio station it's second most popular curated playlist followed by "A-list Country" in Third.
- Smart for Apple to start with a focus on rap, hip-hop, and R&B?
- I definitely get a lot more country recommended to me (I like singer songwriters).
Debate about HomePod's success
- Apple seems on track to sell about 2.5 to 4 million units based on various numbers.
- Estimates from KGI and Deutsche Bank are on the lower end.
- Strategy Analytics says 600,000 in the first quarter, so the predictions (if sales stay around that level) might prove out.
- I'm pretty sure you don't have a HomePod, but have you had a chance to hear one?
- Do you own AirPods? What do you think?