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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03
Sep

Music Tech Startups announce strategic alliance for the greater good of the Musician and Performer.

We are delighted to announce the strategic alliance between Jeeni and California-based AmplifyX, the only FINRA and SEC compliant platform that allows investors to build a portfolio by directly funding musicians. The alliance was arranged by Kelli Richards, Jeeni Managing Director USA, who was mentored by Steve Jobs at Apple where she launched and managed the Apple music and entertainment division. This represents a major advantage for Jeeni in the USA, our most important global territory in terms of artists and revenues. We gain access to more rising stars along with their followers and fanbases, with mutually advantageous joint promotions and publicity. The partnership will officially kick off at the end of August with a global streamed concert, featuring our 10 most popular artists from both sides of the Atlantic, and will be co-branded between Jeeni and AmplifyX. Co-founder of AmplifyX Bobby Kamaris says, “Our companies run in an adjacent space helping independent artists, and our philosophies and motives are very very close. What you guys at Jeeni have done in putting it together and launching is actually incredible.” Co-founder of AmplifyX Adam Cowherd adds, "Did you know that artists take home only 12% of the $43 billion spent on music annually, according to Citigroup? [1] The hip-hop artist Russ put it perfectly when he said, 'The music business isn’t set up for the artists to get rich. It’s set up for everyone else to get rich off the artists.' [2] If you start looking deeper into the music industry, one of the first things you’ll discover is how broken it is. Artists are the nucleus of the business, but somehow they’re the individuals left with no ownership of their Intellectual Property (IP), inhibited creative freedom, and only a sliver of the earnings. There are so many entities involved in the value chain of music that it has created a convoluted industry structure that lacks equality and transparency. When we break down the mechanics of the music industry, we see just how many hands are in the pot: record labels, managers, producers, booking agents, and streaming platforms. A report by Ernst & Young highlighted the post-tax payouts of streaming revenue and identified that record labels are taking nearly 75% of the payout. [3] Why are artists today signing with record labels?" Jeeni Founding Director Shena Mitchell adds, "This is an exciting opportunity for Jeeni to develop strong relations with USA partners. AmplifyX is focused on building a new framework to fund independent artists with their unique platform for artists to raise capital from nontraditional sources. Our visions are entirely complementary and aligned." Jeeni, is the social music platform that brings artists closer to their fans, and shares revenue ethically. Jeeni is presently raising funds on Crowdcube and is 110% overfunded with 4 days to remaining. If you want to see our pitch click HERE.

12
Mar

Patti Smith - Piccadilly Circus Takeover

To celebrate 50 years since Patti Smith's first poetry performance at St Mark’s Church, New York in 1971, January 2021 sees Smith taking over all the light screens at London’s Piccadilly Circus. Being brought to the venue by Circa, curated by the digital artist Josef O’Connor and designed specifically to adhere to social distancing and lockdown restrictions, the installation and Piccadilly Circus takeover, will combine art, music, poetry and prose, and include two recorded performances – one scheduled for midnight on New Year’s Eve and another on the day of the US presidential inauguration on 20 January. Patti Smith in Piccadilly Circus - Photograph Circa Talking to Fiona Sturges from The Guardian, Smith explains, “Some of the work I did in my bedroom, some in a recording studio and some at my desk,” says Smith, 74 this week. “I had to teach myself how to use Photo Booth on my computer and film myself reading a poem. I’m sure there are 14-year-olds who can do this in five minutes but it took me quite a while. But I got there and I’m so proud of myself.” Her favourite piece is a reworked version of Peaceable Kingdom. Written in the aftermath of 9/11, it is a song of solace and hope in the face of catastrophe and, in performing it, Smith will be commemorating 100 NHS workers who have died from Covid. “It’s just so sad when we lose people who work so hard to rebuild our world,” she reflects. She will also read a new poem dedicated to the environmental campaigner Greta Thunberg, who will be 18 in January and who, Smith says, “pretty much sacrificed her childhood for all of us”. Four years under Trump has also taken its toll. “It’s been a terrible atmosphere to live in,” she says. “You try to do your work and not let [politics] permeate your consciousness daily but it does. It’s very insidious.” She notes that she and the outgoing president are about the same age. “I have encountered him in New York through the years and found him a horrible, narcissistic person and just a bad businessman. I’ve seen the debris of his deals. I think the damage he has done is going to be felt for a long time. It’s not going to be so easily healed because globally he has empowered people of a like mind.” Nonetheless she will take “huge psychological relief in the new administration. I’m a natural optimist so I’m not without hope or inspiration. What matters is trying to clean up some of his mess and get some order. I’m doing that in my house. I’m a messy person, and I know that before I can do something creative or exciting I’ve first got to clear everything away.” Circa presents Patti Smith throughout January at 20:21 GMT at Piccadilly Lights, London. A limited-edition print by Smith will be available to buy for £100 from 1 January. Viewers can watch the installation on YouTube from 23:45 GMT on 31 December. Words - Fiona Sturges at The Guardian

12
Mar

Jeeni - 'Coming Into Focus'

Friday 22 January saw the first of a month long project for Jeeni, as they work to connect directly with their members. 'Coming Into Focus' is a collection of Zoom meetings, set up for Friday afternoons at 2pm, giving performers, artists, writers and fans the chance to relay their user experiences and chat directly to the directors of the business. With music platforms under increasing scrutiny from government committees, as well as their users, now seems the perfect time to meet the feedback face to face. Jeeni's ethos of 'Ethical, Honest, Fair' means they aren't afraid to hear what many are choosing to ignore. The directors' believe their platform can offer a better way for the music industry to operate and have been striving for this for the past 3 years. From an online 'open' invite, the whole of social media was invited to register for the meeting and for a first outing, the take up was good. There was also a quick questionnaire to complete, to give an outline of usage of the platform. Once into the Zoom arena, guests were personally greeted by CEO Shena Mitchell, who gave a short briefing on the company, the reasons for starting the focus group project and it's plans going forward. The attendees were then given the 'floor' to discuss their experiences. 'Coming Into Focus' - Jeeni meeting The group was an international mix of musicians, songwriters and music fans, with their feedback being extremely positive. All were amazed musicians, artists and performers were going to be earning 100% of the income generated by their postings, merchandise and tickets. This was seen as a huge positive against other platform competitors. There were some great ideas coming from the group, which Jeeni is interested in developing further. One of the attendants, a recent graduate of The Songwriting Academy was keen to understand the process of uploading his work, and generating an income from this. Another participant, recently arrived from the Southern Hemisphere to the UK, wants to use the site and the Jeeni network to connect with fellow musicians and music fans. Shena was also told, fans want easy access to new and diverse music, rather than the constant stream of similar tracks which follow your previous choices on other platforms. The next 'Coming Into Focus' meeting is scheduled for Friday 29 January at 2pm. To receive your invite, follow the link and register your details, http://focusgroupjeeni.eventbrite.co.uk/. There is even a rumour Roger Watson, an industry legend and Jeeni ambassador, who has sold over 500-million albums in his incredible career, may join the call! www.jeeni.com

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