Global recorded music revenues grew by 9.8% in 2023

Growth is back! After a slower 2022, global recorded music revenues grew by 9.8% in 2023 to reach $35.1 billion, compared to 7.1% in 2022, which means that the market is now more than double (124.5%) the size it was in 2015. 2023 was the year in which the industry settled back into a positive growth trajectory after the volatility of the pandemic and post-pandemic years. But the numbers also point to a market that is embarking on a major period of change.

Kobalt now has access to more than $1 billion in funds to 'fuel growth initiatives'

Combined with the company’s previously announced joint venture with Morgan Stanley (for more than $700m to fund investments) in November 2023, these transactions provide Kobalt with more than $1 billion to continue to grow and meet its strategic initiatives. 

Spotify updates Loud & Clear website with 2023 payout stats

How much any artist earned from that depends on their deals, and also the kind of artist they are. A solo artist who releases through a flat-fee distributor paying them 100% of their royalties is in a very different position to a four-member band on a 20%-royalties label deal, for example.

Taylor Swift Eras Tour Breaks Disney+ Record: Most-Streamed Music Film

Disney reportedly paid more than $75 million for worldwide streaming rights to “The Eras Tour” concert film, which Swift’s company produced.

Roblox gets an ‘ad-supported portable music player’ from UMG

There have been a growing number of music experiences in Roblox, most based around artists. Some of them included music.

Documentary Short on 2023 ASCAP Lab Music and AI Challenge Premieres March 20 on YouTube

ASCAP, the American Society of Composers, Authors and Publishers, releases Prelude in AI Major: Crafting a Creator-First Future for Music & AI, a documentary short on their 2023 ASCAP Lab Music and AI Challenge.

Revenue-sharing initiative Support The Sound launched to make producers’ earnings fairer

“Without their fair compensation, the vitality and sustainability of our entire industry is at risk,” the collective says on its website.

YouTube reveals tool to label ‘altered or synthetic content’

YouTube has revealed how it will be getting uploaders to disclose if they used AI or other tech to create altered or synthetic content.

DataMind Audio Unveils Virtual AI Instrument and Ethically Sourced “Artist Brains”

Founded by musicians for musicians, the UK-based startup is launching a first-of-its-kind virtual instrument, the Combobulator, a real-time generative AI instrument powered by custom models called Artist Brains, created in collaboration with a wide range of donor musicians who receive a 50% of the profits.

IPO, PPL and PRS for Music relaunch ‘Get Paid’ guide for musicians

The UK’s Intellectual Property Office (IPO) has worked with PPL and PRS for Music on a revamped version of the ‘Get Paid Guide’.

2024 ASCAP Lab Challenge: AI and the Business of Music

Continuing to focus on the intersection of AI and music, this year’s Challenge is specifically aimed at identifying AI-driven solutions that can transform music industry workflows, business processes and data exchanges.

• Roger Daltrey Claims AI Has the Power to ”Destroy” Entire Music Industry

• AI Music Startup Beatoven.ai Raises INR 11 Cr in Pre-Series A

• The 'difficult' Police hit based on a 1980 Casiotone synth preset: "The first song written by AI," reckons Stewart Copeland

• New amplify Report Reveals Alcohol Sector’s Struggles With Sound

• AI has come for music. So far, there's a Great Big Sea between people and algorithms

• How the music industry is battling AI deepfakes one state at a time with the ELVIS Act

• UK body BPI threatens action against AI-music covers firm Jammable

• ‘Deepfake’ music start-up Voicify in copyright row

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