New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

Podcasts set to become a money-spinner for music streamers
Music streamers are upping their game in the podcasting space and investing increasing sums in production capabilities and original content. Podcasts have long been difficult to monetize, but the quality and diversity of output has increased significantly in the last few years, pulling in larger audiences. Listeners tend to be young and relatively more affluent, which is attracting serious advertising dollars. Streamers now need to ensure that, going forward, they don’t spoil the medium by overloading it with a surfeit of brand messaging. In addition to ads, subscriptions look likely to provide a decent secondary revenue stream, although the challenge of getting listeners to pay for what has, to date, largely been available for free is not an unsubstantial one.

Streaming gains return Swedish authors’ society STIM to collection growth
Swedish authors’ society STIM has reported a return to collection growth following a dip in rights receipts in 2020. The spread of COVID-19 and the subsequent restrictions brought in by the government to contain the virus continued to take their toll, but a jump in digital revenue more than offset all other sector declines. Digital accounted for more than half of domestic receipts for the first time, with collections boosted by a particularly good year for the ICE joint venture, which is co-owned with PRS for Music and GEMA. Also up was income from online video-on-demand (VOD) and advertising-based video-on-demand (AVOD) services. Broadcasting revenue was relatively flat, with linear TV benefiting from more people staying at home. However, TV receipts are expected to fall as more consumers sign up to over-the-top (OTT) services. Live music has been the worst affected sector during the pandemic. The government only removed all restrictions in February, and so collections suffered accordingly. However, all the major music festivals are set to return this year, and artist tours are proceeding after a two-year hiatus.

DICE rolls from strength to strength, from ticketing to livestreaming
Mobile ticketing company DICE has done a good job breaking into the live music sector against some powerful companies, thanks in large part to its innovative, consumer-friendly technology. It has also shown lots of ambition, having rapidly built an international operation, with further geographical expansion likely following a recent launch in the German market. DICE was also quick to see opportunity during the pandemic lockdowns with a shift into music livestreaming that has now become a serious business for the firm, especially following the acquisition of established streamer Boiler Room. The company now has a chance of becoming a decent-sized fish in this space if it demonstrates the same get-up-and-go it applied to ticketing.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. Retail sales of recorded-music in Germany increased for the third year in a row in 2021, after two years of modest decline. Continued interest in subscription and streaming has continued to offset physical formats and downloads’ steady drop off. Notable in last year’s sales figures was that access service revenue accounted for more than two-thirds of the combined physical and digital total. Digital generated more than three quarters of the retail total. Sales of physical formats were down year-on-year, but the rate of decline was lessened by a rise in sales of vinyl and gains for audiocassettes and singles. International pop was again the most popular genre but a fall in share for the leader and a rise for second-placed hip-hop/rap narrowed the gap between the top two. Collections for authors’ society GEMA returned to growth, although the total for last year fell short of returning to prepandemic levels. Ticket sales to live music events are thought to have rebounded after a tough year caused by the enforced shuttering of venues to control the spread of the COVID-19 virus.

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New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

Critics take aim at the European Commission’s guidance on Article 17 of the Copyright Directive
The European Commission (EC) has finally published its guidance for national governments across the EU on the application of Article 17 of the Copyright Directive. The timing of the publication (June 4) was unusual, given that the deadline for member states to transpose the Directive into national law came just three days later. Rights holders had long lobbied the EC to strengthen legislation to force online services to properly recompense artists for the use of their music. However, despite the Directive largely fulfilling those lobbying efforts, many industry groups and associations were critical of the guidance. Long-time detractors of Article 17 also took a pot shot at the guidance, particularly its potential to increase censorship and limit freedom of expression. Countries yet to incorporate the Directive’s provisions also came in for criticism.

Broadcast gains not enough to offset the public performance drop for Czech authors’ society OSA
Czech authors’ society OSA has reported a fall in royalty collections, ending six straight years of growth. Revenue for a number of performance-based sectors was affected by government efforts to prevent the spread of the COVID-19 virus. However, despite the decline, OSA maintained its position as a billion-koruna plus society. Broadcasting overtook public performance to become the biggest source of income for local authors and publishers. Broadcasting receipts were boosted by backdated payments, while public performance revenue fell sharply with collections from the likes of background music and live performance around half the total in 2019. Digital was the best performing subsector with increased streaming sales and subscriptions in the Czech Republic generating higher collections. However, as a share of total income, digital remains small. Although expenses were down year-on-year, the higher rate of decline for collections meant costs as a share of total revenue grew.

Services ramping up indie artist initiatives, but the odds remain stacked against DIY success
Leading streamers such as Spotify and Tencent Music Entertainment (TME) are beginning to do more to help up-and-coming artists with both services expanding initiatives to boost the careers of those taking the DIY route. Data science looks set to provide a helping hand in a world that sees millions of new tracks released every year, while new funding mechanisms also do their bit. However, indie acts are at a disadvantage given the streaming bias toward major artists and record companies, both in terms of playlisting opportunities and their share of royalty payouts. Music streamers really ought to tip the scales a little more in favor of DIY artists, even if only to make their playlists less narrow and vanilla.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. Retail sales of recorded-music in Germany increased for the second year in a row in 2020, having fallen in the previous two years. Continued interest in subscription and streaming sales more than offset declines in sales of physical formats and downloads. Notable in last year’s sales figures was that access service revenue topped the €1bn ($1.2bn) mark for the first time. Digital accounted for slightly more than 70% of the combined digital/physical total. Although sales of physical formats took a hit from the temporary closure of brick-and-mortar retail stores as part of measures introduced by the government to limit the spread of the COVID-19 pandemic, the rate of decline was eased by a good year for vinyl sales. International pop was again the most popular genre with an increased share of retail sales. Second-placed hip-hop and third-placed rock experienced a slight dip in share. Authors’ society GEMA’s collections and distributions fell because of COVID-19 pandemic-related issues. Although the overall decline in royalties was limited, the society warned that the pandemic will have a lasting effect on its business with distributions expected to be down for the next couple of years.

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New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

Measuring the impact of a global recession on music spending
An economic recession experienced by a single country or at a regional or global level has inevitable implications for households. Depending on the depth or cause of an economic downturn, effects on consumers may be minor, or could result in bigger changes to their way of life. The current move towards economic contraction for almost all countries affected by the COVID-19 pandemic falls into the latter category with real hardship set to fall on many of those affected. National governments are reporting the beginning of recessions (two consecutive quarters of negative growth) but also some optimism that the recessions will be short-lived. However, the consequences will be anything but short-lived with unemployment rates around the world rising fast. How the current situation will impact on the music industry remains to be seen. However, past research suggests that spending patterns on entertainment services change at a slow pace during recessive economic periods with many consumers choosing to cut back on other outgoings instead.

Fair use ruling saves Amazon, Apple, and Netflix from the fishhook
Three of the world’s biggest OTT video streaming services have been granted a motion to dismiss a copyright infringement claim brought by three authors of a children’s song. The claim centered on the use of a short section of the song in a film documentary about a group of burlesque dancers. The film was made available on the services operated by Amazon, Apple, and Netflix. The authors said that the use of the song was unauthorized and subsequently filed a legal case at a New York district court. The three services followed with a motion to dismiss on the grounds of fair use. The court found that the film’s incorporation of the song qualified as fair use under section 17 of the US Copyright Act and so granted the motion.

Video games stepping up to fill the live music event space
The live music business continues to have a seriously difficult time of it during the global COVID-19 pandemic. While the livestreaming of music performances initially looked to provide relief, that particular technology does not hold out much commercial promise for artists. Gaming, however, is having something of a good pandemic as citizens forced to stay in place in their homes up their domestic entertainment consumption. Hugely popular titles such as Minecraft and Fortnite are increasingly hosting music events within their gaming environments, with more in the pipeline. Paid-for festivals could prove a lifeline for live performances, while the gaming crowd’s microtransactions habit may prove lucrative too.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. Retail sales of recorded-music in Germany returned to growth in 2019 after two years of modest decline. Continued interest in subscription and streaming sales just managed to offset the drop off of physical formats and downloads. Notable in last year’s sales figures was that access service revenue accounted for more than half of the combined physical and digital total for the first time. Digital generated close to two thirds of the retail total. Sales of physical formats were down year-on-year, but the rate of decline was lessened by a return to growth for sales of vinyl and a slowdown in the demise of the CD album. International pop was again the most popular genre but a sharp rise in spending on hip-hop/rap saw the genre move second and overtake rock. Collections for authors’ society GEMA returned to growth, although the total just missed topping the record set in 2017. Ticket sales to live music events registered another record 12-months. However, the impact of the COVID-19 pandemic is expected to hit the sector hard.

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New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

Standing Committee publishes review of Canadian copyright law
The Canadian government’s Standing Committee on Industry, Science and Technology has published its review of the country’s Copyright Act. Depositions and testimony from numerous industry stakeholders went into the review and the subsequent report makes a number of recommendations and observations to the government as to how the seven-year-old copyright law should be amended. Rights holders were keen on several changes, such as the introduction of greater controls on user-generated content services and the creation of an administrative body to deal with site blocking. Music industry stakeholders also pushed for the removal of the radio royalty exemption. However, the committee took a more balanced view of the necessary changes. The report has been presented to the government as guidance and the recommendations are advisory only.

Hungarian royalty collections see third straight year of growth
Hungarian authors’ society ARTISJUS has reported a third consecutive year of growth in royalty collections, with the total for last year topping HUF20bn ($74.2m) for the first time. Private copying was again the dominant collection source. However, after two years of growth boosted by increased receipts from mobile handsets, collections in 2018 were only marginally up on the previous year. Total collections were also boosted by positive results from public performance, with ARTISJUS reporting higher receipts from the hospitality sector as well as ongoing improvements in payment discipline. Digital collections were down for the second year in a row. Furthermore, digital remains a minor revenue source for ARTISJUS members. The authors’ society said in its business report that the shift to streaming has presented collection challenges, not least from the higher collection and distribution costs.

Music lines up its gaming partnership plays
Esports – video games played competitively in front of spectators – is already a major entertainment sector and is set to become even more significant in the next few years. Millions of gamers around the world play leading interactive titles while listening to music, while the esports events themselves – often taking place in large arenas – usually feature live music performances to fill out the experience. Unsurprisingly, this is attracting serious attention from the music industry. Partnerships are the best way into this business for gaming ingénues, but those eager to grab a share of esports’ fast-growing revenue need to quickly firm up strategies if they are to cut through and be successful in professional gaming.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. Retail sales of recorded music in Germany have plateaued in the last few years. Although subscription and streaming sales have registered healthy growth, the gains have fallen just short of fully offsetting the drop-off of physical formats and downloads. Notable in last year’s sales figures was that subscriptions and streaming overtook CDs to become the biggest single revenue source. While sales may have failed to increase year on year, the greater the share of spending on access services the better the chance Germany has of returning to growth. Authors’ society GEMA also suffered a decline last year with collections and distributions both unable to match the previous year’s record levels. However, the underlying performance was positive as collections in 2017 were inflated by one-off payments. Moreover, collections exceeded €1bn for the third consecutive year. Live music remains a stable sector. Ticket sales last year topped the previous year’s record, and live music event collections by GEMA have increased in four of the last five years.

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New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

Instagram video gives music new social traction
In June, Facebook-owned Instagram upped its content game with the launch of its first long-form video service, IGTV. This new platform could be an opportunity for music creators. Artists have long used Instagram to document their lives and get closer to their fans. IGTV should enable them to boost fan engagement. Furthermore, long-form video gives Instagram a way to take on YouTube and Musical.ly in the music space. Artist should produce long-form video to post to IGTV as soon as possible to pick up views, as the platform is likely to become populated with a high level of content. Leading brands such as Nike, Gucci, and Netflix are already active in the new space.

Four years of record collections for Czech authors’ society OSA
Czech authors’ society OSA has reported a fourth consecutive year of growth for royalty collections. Moreover, the setting of a new record saw OSA maintain its position as a billion-koruna society. All the main sectors saw an increase last year, with digital income registering the highest growth rate. However, despite the jump in collections, digital remains a small source of income for Czech authors and publishers. Public performance held on to its position as the biggest collection source for OSA, having taken the top spot from broadcasting in 2016. A higher increase in costs than collections meant costs as a share of the total collected increased slightly. Total distributions to local authors were down last year, but payments to Czech publishers and overseas societies were up.

JASRAC reports slight dip in royalty collections and distributions
Japanese authors’ society JASRAC has reported a slight fall in royalty collections for the 12 months to end-March 2018, after a flat previous financial year. The big two domestic collection sources of general performance and broadcasting both registered growth. Background music was the only performance revenue source to suffer a year-on-year decline. Overall performance income increased, along with digital collections, but the ongoing decline in mechanical royalties caused by the steady fall in sales of physical soundcarriers more than offset the gains elsewhere. In line with the fall in collections, distributions to its members were down in the latest financial year, with broadcasting the biggest single source of earnings for Japanese authors, ahead of general licensing.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. The steady rise in retail sales of recorded music in Germany ground to a halt last year after four straight years of growth. However, although Germany missed out on five straight years of rising sales, the prospects of a return to growth are positive because of the increasing consumer interest in music access services. One slight worry is the big fall last year in spending on physical formats. Although revenue from access services easily accounts for the biggest share of digital music income, CD albums remain the most popular format for German consumers, and should spending on CDs fall away at any speed then the market could suffer for another year or two. Authors’ society GEMA went one better than the recorded-music sector, recording five straight years of revenue growth with total collections last year topping €1bn ($1.2bn) for the second year running. Germany’s live music sector continues to deliver stable results. However, there have been some notable shifts within the market, largely following the entry of Live Nation at the beginning of 2016.

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New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

EU committees’ views on upload filters highlight differing attitudes to modern copyright protection
The European Commission (EC) is currently pushing forward with a set of reforms aimed at overhauling the current rules on copyright. Delivered by President Jean-Claude Junker as part of his “state of the union” address at the European Parliament last year, the proposals formed part of the EC’s Digital Single Market initiative. Included in the proposals were new rules on how video-sharing platforms remunerate the online exploitation of creators’ works and how those works are protected. Controversially, Junker introduced the idea that the video platforms will have an obligation to deploy effective means to automatically detect songs or audiovisual works that rights holders have identified. In July, two committees involved in the process of establishing the precise wording of the copyright reforms gave their opinions on the role of upload filters to weed out copyright-infringing content. The subsequent views and opinions from industry stakeholders and rights activists suggest the road to a comprehensive and all-encompassing agreement may be a long one.

Stream-ripping research questions YouTube’s status as a valued partner to the music industry
New research published by PRS for Music and the UK Intellectual Property Office (IPO) has concluded that stream ripping is now the most prevalent and fastest-growing form of music piracy in the UK. Nearly 70% of music-specific infringement is dominated by the illegal online activity. PRS and the IPO jointly commissioned two separate studies to understand the impact of stream ripping on the UK market and on online consumer behavior. The research adds to a number of studies that have highlighted how online piracy is shifting from websites offering access to downloads toward stream ripping from a variety of music and video services. Repeating previous research, PRS and the IPO identified Google-owned YouTube as the most popular source of content for stream-ripping sites. Although the majority of traffic to stream-ripping sites was found to come from individuals seeking the sites directly, search engines were also believed to be delivering a significant proportion of traffic to the illegal services.

HDS ZAMP reports rise in domestic and international royalty receipts
Croatian authors’ society HDS ZAMP registered a positive year for royalty collections at home and abroad last year. Although receipts from TV broadcasters edged down, rises elsewhere, notably from general licensing, live music, and radio more than made up the difference. Mechanical collections benefited from higher sales of physical formats, and income from digital music services more than doubled. Digital collections as a share of total receipts remain low, due to the limited number of services in the country, but licensing efforts are set to boost this number. Despite slightly higher costs, the authors’ society recorded a rise in distributable revenue last year and a decrease in its cost ratio.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry report. Retail sales of recorded music in Germany are on something of a roll at the moment. German trade association BVMI reported a fourth consecutive year of growth in January, with a big jump in revenue from subscriptions and streaming fully offsetting the falls in spending on CD albums and music downloads. Although revenue from access services now accounts for the biggest share of digital music income, CD albums remain the most popular format for German consumers. Authors’ society GEMA has also registered four straight years of revenue growth with total collections last year, topping €1bn ($1.1bn) for the first time. Germany’s live music sector continues to deliver stable results. However, there have been some notable shifts within the market, largely following the entry of Live Nation at the beginning of 2016.

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Music & Copyright is published by Ovum.

New issue of Music & Copyright with France country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

German recorded music sector on track for another year of growth
Figures published by the German music trade body Bundesverband Musikindustrie (BVMI) show that total consumer spending on recorded music was up 3.6% in the first half of this year compared with the same six-month period in 2015. A big jump in music subscriptions was behind the overall rise, with the increase in consumer spending on paid audio on-demand services fully offsetting all other format declines. The continued revival of the vinyl LP also boosted total retail sales. Despite the fall in spending on CD albums, the format still accounted for the majority of music retail sales. However, the boom in streaming sales pushed Germany ever closer to the digital tipping point.

Second consecutive year of decline for Polish royalty collections
Polish authors’ society ZAiKS has reported its financial statements for 2015. Although collections in the year were down compared with 2014, they were still the third highest in the authors’ society history. Total distributions were also one of the highest on record, while the administration rate remained virtually unchanged year-on-year. Broadcasting remained the biggest income source for ZAiKS. However, most of the main sources of broadcast income were down, resulting in an overall broadcast collection decline. The only real domestic bright spots for ZAiKS came from a small rise in collections from background music, public performance, and neighboring rights. Internet collections fell sharply along with private copying remuneration.

SIAE reports positive year for Italian live entertainment in 2015
The Italian live events sector experienced a positive 2015 according to new figures published by the Italian authors’ society SIAE. Following on from a fairly flat 2014, total box office receipts in 2015 registered a healthy rise, with concerts generating the biggest gains and a return to growth after a decline in 2014. Attendance reversed the previous year’s dip and increased in 2015, although the rate of growth was lower than box office spending and audience turnover. In addition to concerts, box office receipts from cinemas also experienced a reversal of fortune and registered an increase, cementing the cinema sector as the Italian entertainment industry’s biggest sector. Dance was the only sector to suffer a decline in box office receipts.

France country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed France music industry profile. The French recorded music industry is currently suffering due to the ongoing transitions from physical to digital and ownership to access. Consumer interest in streaming is maintaining overall growth in digital trade earnings, but falling sales of both downloads and CD albums have pulled down overall record company earnings. There is, however, some hope that this year will see a return to growth, with midyear trade revenue up year-on-year. French authors’ society SACEM registered a positive 12 months with collections increasing after a slight year-on-year decline in 2014. France’s live music industry is highly competitive with national and international promoters battling to represent big names. However, the last 12 months have been particularly difficult for the sector following a number of terrorist attacks.

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Music & Copyright is published by Ovum.

New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

ASCAP collections top $1bn for the second consecutive year
US performing rights organization ASCAP has reported a new record for royalty collections with revenue exceeding $1bn for the second year running. The growth came solely from domestic collections with all the major revenue sources recording an increase. Overseas collections were down with distributions to ASCAP members also suffering a decline. ASCAP’s operating expense ratio edged down while the number of performances tracked, matched, and processed for payment rose sharply. Last year ASCAP became the first performing rights organization (PRO) in the US to provide share ownership information in its publicly available online database for the 10 million–plus musical compositions in its repertory.

PRS for Music reports record year for performance royalties
UK authors’ society PRS for Music has reported a record year for performance royalty collections with all the main income sources registering a year-on-year rise. International royalties, the authors’ society’s biggest income source, returned to growth after a dip in 2014 with collections boosted by a number of exceptional payments, cable settlements, and higher broadcasting revenue. Distributions were also up last year compared with 2014 along with net distributable income. However, costs rose sharply, largely because of certain exceptional costs and one-off expenses associated with litigation and planned investments. As a result, the cost-to-income ratio increased year on year.

Big quarter for WMG as streaming takes the recorded music lead
WMG has reported details of the second quarter of its current financial year ending September 2016. Revenue in the January to March period was up at both current and constant exchange rates compared with the first three months of 2015. Notably, revenue from streaming has overtaken that of physical formats to become the biggest source of income for recorded music. Revenue from artist services and expanded rights also increased along with digital and synchronization earnings for the publishing division Warner Chappell. WMG noted that the fall in recorded music licensing earnings was mostly down to the impact of a large initial distribution of PLG neighboring rights income in the second quarter of the previous financial year.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry profile. Retail sales of recorded music in Germany are on something of a roll at the moment. Trade association BVMI reported a third consecutive year of growth in January thanks to a big jump in revenue from subscriptions and streaming fully offsetting the falls in spending on CD albums and music downloads. Although revenue from access services now accounts for the biggest share of digital music income, CD albums remain the most popular format for German consumers. Authors’ society GEMA has also registered three straight years of revenue growth with total collections last year just edging past the previous year’s record total. Germany’s live industry, the biggest in Europe, is in good shape. The setting up of a Live Nation office in the country has heightened competition in an already competitive sector.

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Music & Copyright is published by Ovum.

New issue of Music & Copyright with Germany country report

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

PWC charts the recorded music gloom and live music boom
PricewaterhouseCoopers (PwC) has published its annual assessment and forecasts for the recorded music and live music industry sectors. The figures make healthy reading for those involved in the live sector, but, despite the forecast rise of digital, the steady fall in sales of CD albums will mean total recorded music sales will continue to shrink for the next five years at least. Overall, combined revenue from live and recorded music will grow annually in the five years up to and including 2019, edging ever closer to the magical $50bn mark.

Collections return to growth for JASRAC in 2014
Japanese authors’ society JASRAC has reported a return to growth for royalty collections in the 12 months to the end of March 2015, after a decline in the previous 12-month period. Despite a fall in both mechanicals and overseas revenue, the rise in domestic performance income, most notably from live performance, boosted overall collections. Broadcasting remained the biggest single source of earnings for Japanese authors. Digital collections edged up in line with the total increase in digital-music sales in Japan last year.

Digital and broadcasting gains boost STIM revenue to record high
Swedish authors’ society STIM has reported another record financial year with total collections and distributions to its members topping the previous records set in 2013. Digital collections were again the star performer with income from digital music services accounting for the second biggest share of domestic income sources. A better year for advertising in Sweden boosted commercial broadcast collections. However, royalties from festivals and live music concerts suffered a big drop after a sharp rise in 2013.

SFX Entertainment and the need to curb its EDM ambitions
SFX Entertainment has had a short and eventful life. The electronic dance music (EDM) specialist is only three years old but, not short on ambition, it has adopted an acquisitions-led growth strategy that has turned it into a $350m-a-year company. But rapid expansion has come at a cost and SFX has yet to turn a profit. For the company’s striving CEO, that does not seem to pose much of a problem. But SFX is listed on the NASDAQ exchange, its stock price has suffered, and its strategy has been heavily criticized. Now the company, which only launched its IPO at the tail-end of 2013, is looking to de-list and get out of the spotlight. But it is not clear that SFX will fare any differently as a private company if it does not change its high-growth tack. Moreover, it may not survive as a stand-alone entity.

Germany country report
In addition to the usual set of music industry statistics and news briefs, the latest issue of Music & Copyright includes a detailed Germany music industry profile. Retail sales of recorded-music in Germany increased for the second consecutive year in 2014. German trade association BVMI reported a 1.8% rise in consumer spending on recorded music compared with 2013. Revenue from subscriptions and streaming fully offset the falls in spending on music downloads and CD album sales. However, despite the digital transition gathering pace, physical formats still account for more than two-thirds of consumer spending. In line with recorded music spending, authors’ society GEMA also reported a second consecutive year of collection growth. Despite difficult market conditions, GEMA said collections were positive for almost all of its business sectors with digital experiencing the highest growth. Germany’s live industry, the biggest in Europe, is in good shape with new festival launches heightening an already competitive sector.

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Music & Copyright is published by Ovum.