Musosoup’s Industry Noodles: 3rd June
Welcome to Musosoup’s Industry Noodles, where we serve up the juiciest music industry news for emerging artists! Grab your chopsticks and let’s dive into this week’s highlights.
PRS for Music Paid Out a Record $1.2 Billion to Songwriters, Composers, and Music Publishers Last Year
Royalties paid out from music used online (music streaming, video-on-demand, and video games) grew significantly. In 2023, PRS for Music paid out a record £943.6 million of royalties. For emerging musicians, this financial boost is encouraging. It ensures fair compensation for songwriters and composers, allowing them to focus on their creative work without financial stress. As you build your catalog, understanding how royalties work and registering your compositions with performing rights organizations becomes crucial.
DICE Launches ‘DICE Extras’ Tool
DICE, a ticketing platform, now allows event creators to sell auxiliary products directly to fans through their platform. Ticket buyers can now pick up parking passes, skip-the-line passes, and merch all on the DICE platform. For emerging musicians, this means additional revenue opportunities beyond ticket sales. Imagine offering exclusive merchandise bundles or VIP experiences directly to your fans when they purchase concert tickets. DICE Extras empowers artists to enhance the fan experience and build stronger connections.
Music.AI Strikes AI Training Partnership with Vultr:
Music.AI’s tools are used by more than 45 million users worldwide. This partnership enhances Music.AI’s capabilities, potentially benefiting artists by providing better AI-driven music solutions and insights. As an emerging musician, keep an eye on developments in AI-powered music creation. Whether it’s personalized recommendations for your next single or analyzing trends in your genre, Music.AI’s partnership with Vultr could lead to exciting advancements that directly impact your music career.
More Than Music Report Explores Festivals’ Sustainability
The report delves into the environmental impact of music festivals. As artists participate in festivals, understanding sustainability practices becomes crucial. Emerging musicians can align themselves with eco-friendly events and contribute to positive change. Consider advocating for sustainable practices during your performances, supporting festivals that prioritize eco-consciousness, and using your platform to raise awareness about environmental issues. By doing so, you not only make a difference but also resonate with fans who care about the planet.
Rostr Launches ‘Stack’ Directory Of Music Tools And Resources
Rostr, which initially emerged in 2019 as an online directory for music industry job moves and signings, has unveiled its latest product: Stacks. This directory compiles a comprehensive list of tools, resources, and curated recommendations specifically aimed at musicians and industry professionals.
Why it’s useful for emerging musicians: As an emerging artist, navigating the music industry can be overwhelming. Rostr’s Stack provides a centralized hub where you can discover essential tools, whether it’s software for music production, marketing resources, or legal guidance. Having access to a curated collection streamlines your journey and empowers you to make informed decisions.
Taylor Swift’s Phenomenal Success and the Age of Swiftonomics:
Taylor Swift’s influence transcends her music, reaching far beyond the pop superstar’s unstoppable ambitions. Her every move is meticulously documented, and her impact extends to cultural norms, climate discussions, and even international relations.
Why it’s relevant for emerging musicians: Swift’s journey offers valuable lessons. From her strategic streaming decisions (remember when she pulled her music from Spotify?) to her ability to bounce back from backlash, emerging artists can learn resilience, adaptability, and the importance of staying true to their artistic vision. While not every artist will achieve Swift’s level of fame, her multifaceted influence serves as a case study for navigating the complexities of the modern music landscape.
That’s a wrap for this week’s edition of Musosoup’s Industry Noodles. We’ll be back next week for more insights and opportunities that can help you carve your path in the music industry.
