Music
The Mechanical Licensing Collective (The MLC) has officially started administering the new blanket mechanical license established by the Music Modernization Act of 2018. US digital audio services operating under this license will be required to send monthly usage reports and mechanical royalty payments to The MLC, which will then match the usage activity to the appropriate musical works owners and distribute the royalties it has received to music publishers, musical works administrators and self-administered songwriters, composers and lyricists.
MRC Data’s latest report states that US music streaming in 2020 has set a new streaming record with a 17% increase to 872.6 billion streams. Lil Baby led the record with a total of 3.9 billion on-demand streams for its tracks. In addition, the year’s most-consumed song in the US was Roddy Ricch’s “The Box” with 1.3 billion streams and 1.7 billion audience impressions at radio.
Lastly, SiriusXM warns of a $1 billion non-cash impairment charge for its Pandora music streaming service, due mainly to the impact of per-play royalty payment costs. CEO Jennifer Witz points to the uncertainty of this year, increased competition, and the potential for higher royalty costs to drive lower margins and have a “meaningful” impact on Pandora’s profitability over the coming years.
Exploration:
https://exploration.io/exploration-weekly-the-mlc-begins-full-operations-2020-us-music-streaming-sets-new-record-siriusxm-suspects-1b-impairment-charge-for-pandora/
https://www.udiscovermusic.com/in-depth-features/film-musicals/
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MLC #USMusicStreaming #SiriusXM #Pandora #ExplorationWeekly
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