Would You Sell Your Song Catalogue?

Jeeni Blog

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Would You Sell Your Song Catalogue?

Today, we hear another mega-star has sold their song catalogue. This time Neil Young has agreed a deal and sold 50% of the rights to his entire back catalogue. Hipgnosis Song Fund purchased 1,180 songs by the Canadian musician in a deal that is said to be worth an estimated $150 million (£110 million), according to the BBC.

The Young acquisition comes after the company acquired the rights to 100% of former Fleetwood Mac singer Lindsay Buckingham‘s back catalogue and 50% of his future work this week, as well as Jimmy Iovine’s worldwide producer royalties. “This is a deal that changes Hipgnosis forever,” Hipgnosis founder Merck Mercuriadis said of the Young deal.

Hipgnosis are known for turning royalties into a steady income stream – with the firm making money every time one of its songs is played on the radio or featured in a film/TV show. Other recent acquisitions by Hipgnosis include catalogues by the likes of Blondie, L.A. Reid, RZA and The-Dream. The company also purchased a publishing portfolio from Kobalt in September. The sale included songs by Fleetwood Mac, 50 Cent, Beyoncé and many others.

The Neil Young sale seems to be part of the growing trend of artists cashing in on their lifetimes work. Bob Dylan was reported in December 2020 as selling to Universal Music. According to the New York Times, the music icon has sold his back catalogue for an eye-watering $300 million (£225 million), giving Universal the ownership of over 600 songs spanning a period of almost six decades.

While the deal means that Universal now control one of the most celebrated back catalogues in history, Dylan is also listed as the principal songwriter on the vast majority of efforts – which means Universal does not have to share future revenues with any other songwriters.

In the same month, Stevie Nicks agreed a deal with Primary Wave for $100million, giving them 80% of her back catalogue which includes her 70's hit 'Dreams' just as it is making a Billboard comeback after going viral in the TikTok video of skateboarder Nathan Apodaca drinking Ocean Spray juice.

To make these kinds of figures, you have to have a catalogue which will give the buyer a payback, but with younger bands such as The Killers doing the same, is this the best way for songwriters, singers and bands to create certain income? With the poor payouts from the online streaming platforms, it makes good business sense, but only for those able to create enough desired material.

For those new and emerging creative stars, companies like www.jeeni.com and Patreon have been created to redress the balance, so revenue generated goes to the creators, not the suits and pen-pushers, meaning artists of the future will possibly be able to afford to create back catalogues and continue to benefit from them.

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07
Sep

KICKSTART your career: Introducing our super-star video wrangler Aleah MO

JEENI are delighted to be employing with the Government’s Kickstart Scheme initiative. Aleah Mo (she/her) was our first Kickstart recruit. Aleah is a 19-year-old dancer and dance teacher from Portsmouth. Since Aleah joined the team, JEENI has helped her to showcase her talent and keep 100% of the rewards. Launched by Rishi Sunak last September as a result of the COVID-19 pandemic. The Government’s Kickstart Scheme provides funding to employers to create jobs for 16–24-year-olds who are receiving Universal Credit and at risk of long-term unemployment. As a fast-growing new business, still in its exciting dewy youth. JEENI are delighted to have signed up for the scheme. The successful Kickstart employees are taken on for initial placement of up to 6 months. And given training to learn new skills, and ongoing support to look for long-term, permanent work. To qualify for the Kickstart Scheme, jobs offered must be brand new positions that were not previously available at the company. For JEENI, this works perfectly as the company is currently growing and expanding at a rapid rate. Meaning that these exciting new roles have evolved naturally. Aleah joined Team JEENI in March. As one of our Marketing Assistants, she creates showcases for many different independent performers like herself. And she’s already using the skills she has learned so far to promote her own talent and services. With Kickstart Employees working for up to 25 hours per week. Aleah says her hours easily fit around her busy schedule of teaching and dancing. “JEENI is such a great company and the hours I work really fit around my dance, which is really beneficial for me, because I am a teacher, so most evenings I am dancing as well as on the weekends. “ Aleah Mo. The Movement Initiative The Dance Company that Aleah dances for is called The Movement Initiative (TMI). TMI is a Charity Dance School located in Southsea, formed to help dancers fulfil their full potential. By providing opportunities, facilities, and classes for dancers to learn excel, and perform regardless of their age and ability. TMI are World Champions in the International Dance Organisation. Aleah is already using what she's learnt as a Marketing Assistant for JEENI to help promote her dance school and increase their following. As well as her own individual talent, all or free. Aleah, along with some other dance school members, and a wide range of independent dancers will also be featuring in JEENI’s next online festival! Our first themed festival, the theme, of course, being DANCE which Aleah is “super-excited” about! If you’re interested in working for JEENI, featuring in one of our upcoming festivals or just want to find out how we can help you promote your talents and services. Contact the Business Helpdesk here: https://jeeni.com/support/ To check out the full Inside Story Interview with Aleah Mo click here: Inside Story: Aleah Mo interview

01
Aug

4 reasons why the current music-streaming model is not working.

The global pandemic has exposed major problems in streamed music. Musicians couldn't tour or give live performances, so they have become reliant on revenue from their recorded music. Now, a shocking inquiry by the UK Government shows that even successful, critically acclaimed artists cannot live off their streaming revenue. But there is an alternative. Jeeni is a platform that puts control back into the artist's hands. On Jeeni, performers and creatives keep 100% of everything they earn, and thousands of artists are already on board, with an audience outreach that has grown to over two million. In fact Jeeni's growth has been so successful that they have turned to crowdfunding to expand their capacity to meet demand, and raised over £61,000 in a few days. The Government report reveals 4 reasons why the current music streaming model is not working: 1. Even successful artists get pitiful returns from streaming Fair reward is a performer's right to share in the recording revenues of a song by law, regardless of their royalty rates and their outstanding debts. However, streaming means that performers are paid according to the terms of their record deal. Depending on when they started out in their careers, their royalties can fall to as low as 2%. At Jeeni the artists get to keep 100% of everything they make, no limits. 2. Pay disparity between song and record rightsholders The current revenue share from streaming gives the record label the majority of a track's revenue. This comes from a model that applied to physical sales, where labels had overheads such as manufacturing, storing and transporting CDs, cassettes and vinyl. This leaves songwriters and publishers with the smallest share of revenue, even though they are vital to the creative process. Music creators and publishers are furious with this model. It's outdated and unfair because these overheads don't apply to digital music production. 3. Just three major music companies control the majority of the market Digital piracy and new technologies like streaming have disrupted the traditional music industry, and led to a state of play where three major labels now have a 75% share of the UK recording market. They also dominate music publishing, which is the part of the industry that deals with the rights to the words and music of a track. Jeeni's CEO & Founding Director Dr Shena Mitchell says, "Although technology has moved on, the approach is still the same as the bad old days, where streaming platforms act more like A&R agents and only select the music they like, dictating what listeners get to hear. At Jeeni we are very proud that our vision is based on democracy, where we give all artists the opportunity to post their videos and showcase their talent, for us to market them to a global audience". 4. 'Safe harbour' and copyright infringement 'Safe harbour' lets tech companies that host artist's content get away with being criminally and financially liable for copyright infringement. This allows users to consume music for free, and it creates a so-called 'value gap', because revenues for music from ad-funded services are significantly less than those from paid-for services. Here at Jeeni we refuse to take any advertising unless it's by an artist for their own tracks or services, and we make sure our artists retain all copyright and ownership of their own tracks. If you like the sound of what we do, then check out Jeeni's campaign HERE and join the list of supporters and celebrities who are flocking to the cause. You can invest from as little as £10 to claim your share, be part of the Jeeni success, and say NO to creative performers getting ripped off. *Capital At Risk

06
Jun

Lockdown lyrics and solo discos – finding fun and frivolity in the “new normal” by Sammie Venn.

By Sammie Venn Jeeni's Official Writer, Columnist and Blogger. Here at Jeeni.com we celebrate and support all musicians and performers, and poetry has its own dedicated channel for artists and performers to showcase their work and earn 100% of their sales, ticketing, merchandise and donations. Yesterday, Jeeni returned to Crowdcube to raise more funds for helping new talent and has raised £92K in 24 hours, our target is £100K and we have 29 days to go, so we are likely to overfund, which is just amazing. Thanks again to all our wonderful investors. If you want to see our pitch click HERE. Today we showcase Sammie Venn as a very talented and creative writer. The Dali Lama said that “there is soul music, soul food and soul love”. There is no expiration date for any of these, even an age old recipe is everlasting. It’s just about finding what sings to us as individuals. Whether it’s a solo disco or a full on rave, music resonates with us all in a plethora of ways. Long walks during lockdown have meant that my innumerable playlists have been given a good airing. My taste has always been eclectic and moods diverse. The tunes that emanate from the speakers in the kitchen or on my headphones are varied to say the least. Ranging from damn good hip jiggers to soulful chakra mediations, there are no boundaries when it comes to the world of music. Both of which are key to a happy harmonious life as well as ultimately mood enhancing. Music is to the soul what words are to the mind, each turn a cacophony of phrases into poetic verse. We can fall in love with music: it touches every part of our being in some way, triggering memories and taking us on a valuable journey. Melodies remind us that life is beautiful and should be embraced. As an early riser, the dawn chorus tends to be my preferred genre. However throughout the day I have made a point of experimenting with different sounds and beats. Finding fun and frivolity in this new world we have found ourselves in is key to our mental health and fitness. Apart from walking the South Downs, solo dance offs have been my go to entertainment. Amongst all the chaos I found a beauty in the calm of movement and all of my favourite songs. It also has the benefit of being an extraordinary workout, one morning my Health App showed that I had danced over 11,000 steps. Suffice to say I was happy with the fitness element of my grooves. The best part was loosing myself in music that made me dance both internally and externally. I’m not a selfie junkie by any stretch but I took a couple of photos to remind myself of how content I looked. My dance partner may have only been the mirror, but we certainly had fun. In my top ten tunes sits “Sunshine on a rainy day” by Zoe. It puts more than a spring in my step and sits comfortably with Imagine Dragons and the Rolling Stones under the banner of “The COVID-19 Collection”. Creating compilations for all seasons is a great way to assemble your music. Jeeni’s platform has been wonderful as it has helped me to experience a fresh realm of creativity. Not only have I discovered new artists but I have also embarked on a learning journey that supports genres that I had never heard of. Historically I am a rock chick through and through but I have welcomed ‘Bluegrass’, ‘Chant’, ‘Faith’ and ‘Funk’ as new soundscapes on my playlist. And that is all thanks to Jeeni. Click HERE to visit or return to jeeni.com

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