Would You Sell Your Song Catalogue?

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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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10
Jun

Mel's bedtime story

Once upon a time, I created a platform called jeeni.com which is where independent artists perform their music in front of new fans, and get rewarded for their efforts. On a Saturday night we ran a live global music festival featuring 18 acts from both sides of the Atlantic. The oldest performer was over 70, the youngest was under 10. They were brilliant, each in their own way. We broadcast over social media and websites. There were no adverts, there were no fakes, there was no hype. It didn't cost us a penny to run. Everyone had a ball. We are part of a revolutionary process that is killing a corrupt and rotting music industry which has held both audience and performer to ransom since the 1890s. So if you will indulge me, I'd like to tell you how, and why ... I'm an old hoarder, I hoard old music recordings, and when I say old I mean really old. Upstairs, in what was once a studio but has turned into an Irish Setter leisure lounge, there are several hundred wax cylinders from the 1890s. Each cylinder is a unique recording from an age before duplication was possible. If Miss Florrie Forde wanted to sell a hundred copies of Hold Your Hand Out You Naughty Boy to her adoring public, then she had to keep lubricated and trill the bloody thing into a brass horn a hundred times and record it onto wax in real time. But to me the beauty of these cylinders is not that each one is a unique recording, but that each one is mercifully short, rotating at 120 revolutions a minute and lasting a meagre two minutes, because that's all a wax cylinder can hold. And so the two minute pop single was born. At the start of the twentieth century discs replaced cylinders, but not a lot changed. I have another room full of shellac discs that spin at 78 revolutions a minute. When it came to pop singles from artists bringing joy to the world throughout the first half of the twentieth century, they had just under three minutes to do it in. And if they were any good, just under three minutes was plenty. I feel personally to blame for what happened next, because in the hour of my birth in 1948, the microgroove vinyl disc hit the market, spinning at what my Irish chums call dirty tree and a turd revolutions per minute. I have an entire wall of vinyl albums, with their glorious covers and sleeve notes. And yes, they are arranged in alphabetical order by artist and date-order of release. Their storage capacity is approximately twenty-five minutes a side, which is usually twenty-two minutes too long. And on the opposite wall is where all my CDs sulk, each one capable of storing seventy-four minutes of audio, and not one of them played since the turn of this century. Why? Because a hacker called SoloH went and ripped the source code of something called the Fraunhofer MP3 encoder and spread it all over the internet for free. Thanks to SoloH, I can not only digitise my entire collection of recorded music without any restrictions on playing time, I can access the entire library of everything that has ever been recorded, for ever. My phone weighs exactly the same as my 78rpm copy of Little Richard's single Tutti Frutti, which runs for two minutes 28 seconds of total perfection. My phone holds 21,417 tracks in MP3 format, some of them complete symphonies, which are pretty good, some of them prog-rock drum solos, as used by Viet Cong torturers to break the spirit of the enemy. My desktop hard drive and cloud-accounts contain too many tracks to keep track of. I declare that my motivation for amassing this ludicrous collection of music was that one day it would bring me comfort in my old age, when my body and brain become enfeebled and I feel the need to keep hold of past pleasures while dying. As it turns out, I started playing my collection early, during lockdown, and wished I was dead by the end of day three. The singles were great, but the albums were mostly insufferable. Which is when I realised that the music album is stone dead, and the nightmare of a lifetime of audio padding is finally over. Then the real truth hit me. The recorded music industry is dead too. Thanks to COVID19 there has been an explosion of new creativity. Everyone is now a record producer, anyone can run a broadcast music channel, and that's exactly what everyone and anyone seems to be doing, including me. The spongers and leeches and shysters have been exposed as completely unnecessary, as have most of the agents, publicists and managers. They are no longer able to milk performers in our new world of social distancing, because they have lost their power. It's the remote audience that now has the power, and this audience wants instant gratification, not a load of overhyped, overwrought, overlong, flimflam. Jeeni.com is my final project in a very long career. I'm giving my artists three minutes per track to nail it, because that's what my old hoard tells me is right. And I hope you agree that in order to shine, three minutes is all that anyone should ever need.

12
Nov

Weekly Round-Up #4

The latest news on all things Jeeni, music and entertainment news. The ongoing impact of Covid-19 on musicians Like many other sectors, the music industry has been hit hard by coronavirus with live performance revenue the biggest casualty. During the lockdown, the cancellation and postponement of most live music has had a catastrophic impact on the entire industry. In addition to a reduction in physical sales from the closure of retail stores. There has even been a negative impact on synch opportunities due to less production of visual content. And while streaming revenue has increased, it is not a sustainable source of income due to unfair revenue shares. According to National statistics even before the pandemic, a musician earned on average £23,059, well below the national average of £29,832, according to the Office for National Statistics. A report by UK Music predicted that musicians will have lost 65% of their income this year, rising to 80% for those most dependent on live performance and studio work. Frances O’Grady TUC General Secretary sent a strong message of solidarity and support to Musician Union members at the 39th Musicians’ Union Delegate Conference. Highlighting the effects of Covid-19 on musicians. “The pandemic has been a huge challenge to working people and musicians have been on its economic frontline, unable to work due to lockdown restrictions” she said.“Too often this government left the self-employed high and dry. Now ministers must step up to give arts, culture, entertainment, and festivals the support we urgently need”. Jeeni is ahead of the government in supporting musicians, the platform hosts a range of creative talent supporting them to grow an audience. On Jeeni, artists and creatives keep 100% of everything they earn, and thousands of performers are already on board, with an audience outreach that has grown to over two million. Check out what we do at Jeeni and how we support independent creative talent YouTubes ads business is now bigger than the entire global record business According to revenue figures released last week from YouTube Parent company Alphabet, YouTube generated $7.205 billion in revenues from advertising in Q3 this year. Up 43%, or by over $2 billion, year-on-year versus the same quarter of 2020. The $7.205 billion figure did not include additional revenues from subscriptions which YouTube just announced it has surpassed 50 million global subscribers to YouTube Music and YouTube Premium. Meaning that the video streaming giant now has a bigger ads business than the entire global record business. New artists face ‘massive competition’ from established acts due to streaming New artists face massive competition from major established acts such as Queen and the Beatles due to the advent of streaming according to The Culture Committee. Peter Leathem, chief executive from the music copyright collective Phonographic Performance Ltd, told MPs that even the most talented performers were “struggling” to make a living from their music in part due to the competition they face for plays and revenue. “They are faced with massive competition. If you look at 2019, the best-selling albums were Queen’s Bohemian Rhapsody, based on the film, and Abbey Road by the Beatles, on its 50-year anniversary. If you are trying to break a new artist or trying to get your own streaming going you have got the last 50 years of the music industry to compete with.” With lots of streaming taking place, the value of the market is much less and there is so much competition. Up-and-coming artists are also competing for a share of a “smaller pie”. He added, “If you are trying to break a new artist or trying to get your own streaming going you have got the last 50 years of the music industry to compete with." MPs are continuing to examine what economic impact music streaming is having on artists, record labels and the sustainability of the wider industry. It's clear that the music industry needs more support in terms of the value gap and allowing the spotlight to be on new artists. This is exactly what Jeeni are doing, by supporting independent artists. Jeeni is a platform that brings together creative talents and allows them to showcase their work to a wider audience. All while keeping 100% of everything they earn, and thousands of artists are already on board, with an audience outreach that has grown to over two million. Be sure to visit Jeeni and discover how we help independent artists rise above the limitations of major streaming services at Jeeni.com Jeeni News Artist Pairing Initiative We had our very first artist pairing meeting hosted by Jeeni’s Ella Venvell. The artist pairing is a new initiative by Jeeni where we pair up artists of a similar genre, one with more experience and the other a fledgling artist. The more experienced artist is able able to give advice and words of wisdom. While both artists can encourage and inspire each other by sharing their individual experiences. Our first meeting with Daisy Chute and Ariana May was a huge success. Daisy shared her experiences of being signed to a major label before becoming an independent self-sufficient artist, expressing the benefits and downfalls to both. Furthermore advising Ariana on the best ways to promote her music through a variety of avenues and the different revenue streams available. If you are an artist interested in Jeeni's pairing initiative then be sure to contact our Artist Liaison Ella Venvell at ella@jeeni.com, including info about yourself and why would like to be part of the artist pairing initiative. Pick Of The Week Our pick of the week is Glasgow based alt-rock band Respite. The band blends elements of punk, post-hardcore and pop music, with lyrics and vocals heavily inspired by pop-punk and emo. Respite released their first single, “Chemical Sleep” on the 3rd of October. Soon after following with their debut EP “Vol. 1” on the 29th of October which features five original tracks, and is available to stream everywhere right now! Check out Respite's showcase on Jeeni - Respite | Showcase | JEENI New Music Friday In our New Music Friday segment, Daisy Chute has been selected with the release of her EP Songs of Solace on Friday 12th November. A collection of six original songs which tells a story ‘through the beginning, middle and end of a relationship. Songs of Solace is available on all streaming platforms. Check out Daisy Chutes showcase on Jeeni - Daisy Chute | Showcase | JEENI Jeeni and Chillblast Partnership Jeeni has partnered with Chillblast to bring customers exclusive branded PCs designed for musicians and creatives. Chillblast is the UK’s Most Awarded PC Manufacturer. Find out more about Chillblast here, and discover why Jeeni has partnered with Chillblast to bring Special Edition music PCs with exclusive Jeeni branding. As well as a year's subscription to the Jeeni Platform with each order worth £85. Chillblast Jeeni PCs are perfect for all musicians and creatives, whether you're an independent bedroom pop artist or a music producer working on the next number 1 one single. Get the best deal on music PCs with our black Friday 2021 offer. Buy your Jeeni Music PC built and warrantied by the UK’s most awarded PC manufacturer here Jeeni PCs (chillblast.com)

05
Jun

As the Coronavirus Pandemic directly impacts Songwriters, Musicians and Artists - what can we do to help?

Reluctantly we cannot avoid a discussion about the impact of Coronavirus. Yesterday my son flew to Manilla in the Philippines where there is a state of emergency and where the community will be placed under quarantine for one month. At Jeeni HQ, key personnel have decided to self-isolate and social distance for the sake of our family, our loved ones and the business. It's all become very real, very fast. I have handpicked some relevant articles for our members, but it's a bit doom and gloom I am afraid. John Ochoa states: "By now, the detrimental effects of the global coronavirus pandemic on the music industry are loudly heard. Major festivals around the world are postponing or outright cancelling their 2020 editions. This month alone, Coachella and Stagecoach, Ultra Music Festival, SXSW, Lollapalooza Argentina, Treefort Music Fest, Brussels' Listen! Festival and several other major events were called off or postponed. The aftermath has impacted everything from music conferences and award shows—this year's Winter Music Conference, ASCAP Experience, Nickelodeon Kids' Choice Awards and BMI Latin Awards were all cancelled or postponed—while the amount of cancelled national and international tours continues to grow seemingly on the daily. As the coronavirus continues to spread, so too do its ramifications on the music industry. While industry experts and analysts are projecting that the live concert business could stand to lose billions, the financial fallout is virtually immeasurable at this point". http://bit.ly/2U1EH38 Norton and Denham conclude: "The coronavirus pandemic is scary for many who live on tight margins or don’t have the security of a steady paycheck. That includes independent musicians, venue owners, promoters, and others whose livelihood depends on a thriving and functioning arts and music scene". http://bit.ly/2IMuSAW The Digital Fix has started a discussion about how we can help? They say that: "We should buy physical CDs or downloads enabling artists to keep the money for themselves. and invite every band/artist to share their music with links to buy". http://bit.ly/3aW501o But is that enough, surely we can do more? What about lobbying the streaming services that pay artists peanuts. This could be the trigger to get them to offer some real help. Let's have some positive proposals from this community. Online collabouration instead of face to face rehearsals and jams? How to help our more vulnerable members get through if things get really tough? Over to you. Retro microphone on stage in restaurant. Blurred background

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