Posted by Mike McCready | May 7th, 2015 | No responses
The globe’s second biggest music group, Sony, pulled its music off of SoundCloud yesterday after failing to reach an agreement. Gone are such hit artists as Adele, Kelly Clarkson, Hozier and Miguel.
Sony dispute with Soundcloud is over “a lack of monetization opportunities,” an anonymous music executive told Billboard, who were first to report the takedown. “[It’s] been a good place for exposure,” added an artist manager. “At the same time, artists and labels need to get paid for music. Until that can be worked out, we’re going to have situations that are incompatible with artist development.”
Ongoing Negotiations, $2 Million Paid
In addition to the NMPA, Soundcloud has also been able to strike a licensing deal with Warner Music Group; and talks with other rightsholders are ongoing.
“We are in ongoing conversations with major and independent labels and will continue to add partners to the program,” noting that the company has already paid out more than $2 million in advertising revenue to more than 100 partners since On SoundCloud’s establishment in late 2014″ Soundcloud said in a statement. “We’ve always put control in the hands of creators, and anyone who makes music and audio can decide when and how they want to share it with fans, allowing artists to essentially broadcast out to the world the availability of new content.”
Mike McCready is an entrepreneur at the crossroads of music and technology. He pioneered the introduction of Hit Song Science into the music industry and followed up with Music Xray, the company he co-founded and serves as CEO. His companies have been the subject of case studies at Harvard Business School, IESE and he frequently guest speaks at many of the top business schools around the world. He helps the music industry identify high potential songs and talent and helps musicians get deals, get fans, & get better: http://musicxray.com