Tag: royalty

Streaming Giants Come Together For New Payment & Royalty ThinkTank

The Open Music Initiative, a new program from The Berklee College Of Music’s Institute For Creative Entrepreneurship, aims to create “open source standards and innovation” for improved compensation and royalty payout”. In conjunction with MIT Labs and just about every major streaming service and record label, the Boston based program will run July 11-29. On board with the program that its co-founder describes as,    “[the]intersection of open source technologies, creator rights and music consumption,” are streaming giants YouTube, Spotify, Soundcloud, Pandora, Netflix, and SiriusXM, as well as Universal, Sony and Warner Records, smaller radio stations, and independent labels. Over the program, ... Read more

Beatport Freezes Artist & Label Payments

Until its new parent company SFX Entertainment completes its “going private” process, Beatport has alerted artists and labels that it will not pay out its owed royalties over the past quarter. For larger labels this, seemingly temporary, issue may not play as a big deal, however for small labels, 3 months of income has now been suspended. As Beatport counts as nearly 90% of revenue for some labels, the quarterly non-payment is significant. As for Beatport itself, they remain confident that the suspension will be, “coming to an end in the next few weeks, at which time all payments will be able to be ... Read more