Radio Edit | 6.9.2023

This week, Radio Edit takes a look at Duetti’s investment in indie catalogs, New York Music Month, and the potential music industry applications of Apple’s new virtual headset. Other stories include Infinite Catalog’s new royalty platform and Firebird’s aggressive investment strategy into operational music companies.

Top Stories

Duetti’s Plan For Independent Catalog Acquisition

While the catalog acquisitions of major stars like Justin Bieber and Bruce Springsteen have made headlines, music financing startup Duetti has their sights set on the independent music market. Already managing a catalog of about 100 songs, the company recently closed on $32mm in funding that they hope will allow them to grow that number to 70,000.

Seeking to address several problems facing independent artists, Duetti hopes these deals will both provide immediate revenue for artists and allow them to reinvest that money in their career, something that’s particularly difficult without the backing of a record label. In structuring these deals, artists can either sign over 100% of their rights in a song or choose to retain up to 50% in the form of an ongoing partnership. Billboard

New York Music Month: A Round Up

Each June, New York is home to a buffet of music events across the city known as New York Music Month. Here’s a look at some of the key events worth checking out in the coming weeks:

• She Is The Music Camp (June 9-11) - a songwriting camp seeking to provide a safe space for young women and nonbinary songwriters/producers to connect and empower each other. Sponsored by Gyuyaki Yerba Mate, the camp will take place at Kensaltown East Studios

• Anti Social Camp (June 12-17) - a weeklong songwriting camp founded during that pandemic that features 150 artists across 100 writing sessions. While most of the events are private, the camp’s opening ceremony and industry showcase on June 12 are open to the public.

• A2IM Indie Week (June 13-15) - a week full of programming, networking, and panels held by some of the leading independent business in music. Held at the InterContinental, this year’s panel topics include: the best methods for artist royalty collection, the changing state of A&R, the rise of regional Mexican music and more

• AIMP Global Summit (June 13) - this annual event acts as a touch-base for members of the indie publishing sector

• National Music Publishers’ Association (NMPA) Annual Meeting (June 14) - along with serving as a platform for announcements from NMPA’s CEO/president, the event allows the industry’s top publishing executives to convene and touch base. The event will also feature a keynote from WMG CEO Robert Kyncl and songwriting honors for Brandy Carlile & Ashley Gorley

• Libera Awards (June 15) - an annual event held at the end of A2IM Indie week to honor the achievements of independent artists. This year’s Awards sees nominations from Wet Let, Sudan Archives, Fontaines DC, and more.

• Songwriters Hall of Fame (June 15) - inductions at this year’s ceremony include Glen Ballard, Snoop Dogg, Gloria Estefan, Jeff Lynne, Teddy Riley, and Liz Rose. Also, Tim Rice will receive the organization’s highest honor, the Mercer Award

How Apple’s Latest Product Could Transform The Music Industry

While the new Apple Vision Pro headset seemingly has endless applications, its potential for the music industry is profound. From the songwriting process to the stage, Forbes takes a look at how we can expect this new technology to dramatically affect the music landscape:

• Immersive concert experiences- rather than watching a livestream on your TV or phone, this new technology will allow music fans to feel like they’re in the front row without leaving their home

• Enhanced music videos- artists will be able to put their fans inside their videos, engaging viewers on a deeper level and enhancing their video’s storytelling potential

• Virtual band members- artists can collaborate with virtual performers in real time, unlocking new ways to enhance the live experience

• Interactive music education- students can learn new instruments in an interactive environment or practice in simulated performance settings- allowing new artists to get over stage fright without ever playing a real show

• Collaborative songwriting- while remote songwriting is nothing new, writers who prefer the energy of an in-person collaboration can now do so without being in the same room and eliminating travel expenses

The Apple Vision Pro headset is expected in early 2024 with a $3,00 price tag. Forbes

What Else Is Going On

Signings

Karol G has signed with Interscope

Streaming / Radio

With boosts from Taylor Swift and Morgan Wallen, music consumption is up 13.8% through the first 5 months of the year

Live / Touring

Concert venues are reporting a decrease in alcohol sales at concerts aimed at Gen Z, impacting a major revenue stream for the live concert business

Label

WMG has announced a partnership with Yoto, a music platform for kids

Publishing

CTM Outlander has acquired the catalog of country writer Shane McAnally

South Korean investment firm Beyond Music has now raised over $400mm and boasts a catalog of 27,000 songs

Infinite Catalog has launched IC Full Service, a remote royalties department catering to small and mid-sized catalogs

Other

Rostr unveils their list of 100 leading artist management companies

A look at Firebird’s plan for injecting $1B into the industry through investments in operational music companies

Spotify slashes 200 jobs as it restructures its podcast division

A look at how AI can both hurt and help the music industry

Distrokid could be facing a class action lawsuit regarding their policy on takedown notices

Billboard has put out their list of Country Power Players

Appointments / Departures

Appointments

Range Media adds Cory Litwin as managing partner

Armada Music brings on Madeleine Van Schendel as Chief Growth Officer

Jeff Skaggs appointed head of Milk & Honey

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