Streaming Revenues - a tipping point?

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Streaming Revenues - a tipping point?

At Jeeni, this is a subject we are following closely, being a platform set up to address this very subject. The balance of revenue on most platforms, is tipped far too heavily away from the artists, performers and writers, in favour of the suits and pen-pushers. Quite frankly, it's a disgrace! Jeeni's ethos is to ensure any performing members receive 100% of the revenue they generate. Should all streaming services work the same way?

Journalist Dylan Smith, from Digital Music News has written the article below, updating how far the DCMS Committee has got with their fact finding and the issues to be presented on 11 December.

Digital, Culture, Media and Sport Committee Chair Julian Knight. Photo Credit: David Woolfall

British lawmakers have stated that artists are hesitant to participate in the ongoing investigation into streaming royalties “because they fear action may be taken against them” if they do so.

The House of Commons’ Digital, Culture, Media and Sport Committee (DCMS Committee) announced the high-profile probe of streaming royalties last month. The comprehensive analysis aims to identify streaming’s impact on all relevant stakeholders, including labels and artists, as well as its long-term effects concerning “the sustainability of the wider music industry.”

Last week, singer-songwriter Nadine Shah, Radiohead guitarist Ed O’Brien, and Elbow frontman Guy Garvey spoke before the DCMS Committee to address the contemporary music landscape. Of particular note was Shah’s statement that she doesn’t “make enough money from streaming” to cover her rent, despite having north of 100,000 monthly listeners on Spotify.

Possibly in response to the abundance of information that the investigation has turned up thus far, the DCMS Committee also announced last week that it had extended the window for artists and others to submit written testimonials regarding royalties. From the original deadline of Monday, November 16th, members of the music industry now have until Friday, December 11th, to express their opinions.

The probe’s upcoming oral testimony, for its part, is slated to take place next Tuesday, December 8th, with Maria Forte Music Services’ namesake owner, Ferocious Talent owner Kwame Kwaten, and José Luis Sevillano, director general at Spain’s AIE, set to participate via livestream.

Ahead of the formal sitdown, DCMS Committee Chair Julian Knight has relayed that many would-be witnesses are opting not to come forward due to their fear of the potential professional consequences associated with speaking out against streaming royalties.

“We have been told from many different sources that some of the people interested in speaking to us, in relation to this inquiry, have become reluctant to do so because they fear action may be taken against them if they speak in public,” said the Solihull MP, who became the DCMS Committee’s chair in January of this year.

“I would like to say on behalf of the Committee that we would take a very dim view indeed if we had any evidence of anyone interfering with witnesses to one of our inquiries. … This Committee will brook no such interference and will not hesitate to name and shame anyone proven to be involved in such activity,” continued Knight.

And in concluding his statement on the matter, the lawmaker emphasized that others who reach out to the DCMS Committee with information or insight pertaining to streaming royalties “will be treated in confidence.”

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04
Sep

The CEO of Spotify is worth 2.5 billion, meanwhile, artists are paid next to nothing.

Spotify CEO Daniel Ek has come under fire for claiming that musicians should be “recording and releasing music nonstop to make ends meet.” The CEO of Spotify is worth 2.5 billion, meanwhile, artists are paid next to nothing on the streaming giant. Many major artists have criticized the unfair revenue share, infamously Taylor Swift pulled all her music from the platform demanding better support and pay for musicians in 2014. Since more and more are expressing their views on the unfair treatment of artists on major streaming services. Pink Floyd said this about Spotify, “those services (Spotify and other streaming services) should fairly pay the artists and creators who make the music at the core of their businesses. For almost all working musicians, it's also a question of economic survival." Beck said, “What Spotify pays me is not even enough to pay the musicians playing with me or the people working on the discs, It's not working. Something is going to have to give." Tim Burgess, lead singer of the Charlatans tweeted “So many artists forced to take second jobs, give up flats because they can’t pay their rent all while getting decent numbers of plays on spotify – yet the owner has enough to bid for a premier league team. It just doesn’t seem ethical to me” Music fans added "That is the state of play in the world, the artist, creators & writers can only go through these global corporates and get paid next to nothing and they get paid the most. It is true with the statement someone said. "Billionaires don't make a billion, they take a billion" Here at Jeeni we're working hard to do everything opposite to these streaming services, by offering an ethical alternative where artists are supported and treated fairly all while keeping 100% of everything they make on our platform. That's why we have taken to Crowdcube so we can scale up and continue supporting artists and performers. Join our fast-growing family of investors, and grab your rewards as you help us reach our target! Check out our pitch here. https://bit.ly/3BhEeia

13
Aug

THE ETHICAL ANSWER TO THE GREAT STREAMING RIP-OFF

For too many years, the giants who control the world's music streaming services have been ripping off the creators and performers of the content that allows these services to exist. The figures are staggering, 355 million paying subscribers to an industry worth over twenty-four billion dollars a year. But most artists who provide the content don't earn enough from their monthly streaming royalties to buy a pizza. Now there is an ethical alternative, a streaming service run by artists for artists, where creatives and supporters own a share in the company and keep 100% of what they make. It's a Portsmouth-based venture called Jeeni. Last month, the UK Government report on the major streaming services painted a picture of a broken model that fails to reward musicians fairly. Superstar Nile Rodgers calls it a huge victory for his peers. “I want to believe in my optimistic heart and soul that things will change,” he told the Financial Times, after giving evidence to the Government committee. Rogers is appearing at the Victorious Festival in Jeeni's home town of Portsmouth, alongside a raft of artists who have set up their showcases on the Jeeni platform since their campaign was launched. The founders of Jeeni have a track-record of success, and include veteran entrepreneur Mel Croucher, who founded the UK videogames industry in the 1970s. He is joined by several GRAMMY-Award-Winners and celebrities, including Roger Watson, the ex-boss of Arista Records, responsible for selling over 500,000 records. "We've all made it to the top," says Watson, and now we're giving something back to a new generation. We've got the experience, they've got the talent. Now we're giving them all the tools they need to showcase their work on Jeeni, and get properly rewarded for their efforts, as well as own a piece of the action too." Jeeni's CEO, Shena Mitchell is also no stranger to successful start-ups. She founded The Innovation Warehouse and has now taken Jeeni to the crowdfunding platform Crowdcube, where budding superstars can own a slice of the company for less than the price of that legendary pizza. More information: jeeni.com/investhttps://www.crowdcube.com/companies/jeeni/pitches/qD0WNq

05
May

Artists' rights have been stuck like a broken record, until Broken Record asked for Reform

An open letter was sent to Prime Minister Boris Johnson on the 20th of April, demanding, finally, that there be a reform in music streaming services. Hoorah! We hear you say, but what does this mean? Well, everything that Jeeni stands for, in essence the fair and equal treatment of music makers and artists. High profile artists such as Sir Paul McCartney, Coldplay’s Chris Martin, Boy George and Jessie Ware, have all signed the open letter and petition asking for a regulator to ensure these actions, in order to make the UK “…the best place in the world to be a musician or songwriter.” The move was spearheaded by the Musicians’ Union and the Broken Record campaign but has garnered more than 150 signatures from famous faces across the UK music industry and the support of over 5000 musicians and fans. Since the launch of Spotify in 2008, streaming services have quickly become our primary method for listening to music instead of through the more traditional methods of radio and Television. What these streaming services don’t offer however, is protection and fair treatment of the artists and songwriters. In November 2020, as part of an investigation into streaming royalties, it was found that some artists were receiving just a fraction of a US cent per song streamed and worse, some no compensation at all. In order for this to change, only small amendments need to be made to the 1998 Copyright, Designs and Patents Act, however the outcome for artists could mean the difference in being able to pay next month’s rent or not as many have unfortunately experienced. At a time when we need to be looking for ways to restart the post-Covid financial recovery, a truly free market would allow a song to achieve greater profits and therefore, as the letter addresses, put more money in the pockets of UK taxpayers which can only benefit our economy. Fundamentally we don’t want to stop listening to and seeing the artists and musicians we love. When we are able, we want to dance along at concerts, sing our hearts out at gigs and sway to the rhythm that an artist has worked hard to create for us, so why should they not be paid and treated fairly? We want the music industry to thrive, and it is why we at Jeeni believe that it is so important to do this. You can support the petition at https://www.change.org/p/boris-johnson-put-the-value-of-music-back-where-it-belongs-in-the-hands-of-music-makers Let’s make 2021 a great and fair one.

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