In 2016, Patreon boasted that 7,960 users were now making over $100 a month, which struck me as such an insignificant monthly income to brag about. Around the same time, the company reportedly had 25,000 creators, meaning only 31 percent of Patreon’s users were making over a hundred bucks….Even if creators are struggling to make money, investors see Patreon as a goldmine. In September, Patreon announced a $60 million dollar investmentfrom venture capital firms, bringing its total funding to $107 million, according to Crunchbase.
According to multiple news sources, Google’s Eric Schmidt (who MTP readers may know as “Uncle Sugar”) has stepped down from his job as Executive Chairman of the Chocolate Factory. You remember Uncle Sugar, right? The New York Post tells us: ‘ [T]he timing of Schmidt’s sudden move — along with the fact that Alphabet waited […]
If you’re looking for a worthy cause in this season of hope, please consider Tipitina’s Foundation. The foundation sponsors a robust internship program, Sunday youth music workshops and the Music Co-Op Offices across Louisiana. Tipitina’s Foundation supports Louisiana and New Orleans’s irreplaceable music community and preserves the state’s unique musical cultures. The Foundation grew out […]
This is what happens when you stick to your property rights–Bloomberg reports that Facebook, aka royalty deadbeat, has signed a multiyear licensing deal with Universal Music Group: Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. […]
Great news today that the appeals court upheld BMI’s ruling by the BMI rate court judge that there is no such thing as 100% licensing under the consent decrees. Although it’s like winning an appeal that the Sun really does rise in the East, it’s good to put that issue to one side and to poke a stick in Google’s eye.
News from the oblivious…New York Times reporter Charles McDermid offers us a demonstration of myopia. In his December 13 “Briefing” column (subtitled “Here’s what you need to know”), Mr. McDermid inadvertently tells us exactly what we need to know, albeit probably not for the reasons he thought. First, we get a critique of the […]
It’s that time of year again–time for readers to stump the band with obscure movie quotes. This time of year when reorders are filled, shows are booked, playlists are frozen and Congress is slouching toward Bethlehem, it passes the time. Here’s a few we’ve received, if you have some quotes leave them in comments or […]
In a big win for artists, SoundExchange scores 41% increase in SiriusXM royalties.
[Editor Charlie sez: This is a repost of the original from September 2016 in light of the recent appeal by the Department of Justice.] By Steve Winogradsky and Chris Castle, all rights reserved. The recent ruling by the U.S. Department of Justice in United States v. Broadcast Music, Inc. and United States v. American Society […]
A real treat, Portia Sabin and Blake Morgan, two of my favorite people on the best music business podcast!