CISAC posted updates on developments around the ISWC in its annual report, stating that the unique identifier for musical works has made progress across the value chain. The organization expects to provide new services like automated access to the ISWC database and more.
According to the Copyright Office, a supplemental interim rule has been applied to the Music Modernization Act. It makes changes to certain annual reporting requirements and due dates for royalty payments that digital music providers submit via adjustment and annual reports of usage to the MLC.
Cloud Village recently announced that its revenues rose 38.6% in Q1 and monthly subscribers increased 51%. The company operates NetEase Cloud Music, China’s second-largest music streaming company behind Tencent Music Entertainment.
In this newsletter:
- CISAC Outlines ISWC Advancements in Latest Annual Report
- US Copyright Office Issues a Supplemental Interim Rule Related to the Music Modernization Act Reports of Usage and Payment
- Cloud Village Music Subscribers Grew 51%, Revenues Up 38.6% in Q1
- IFPI Tests Regional Music Charts in Four MENA Countries
- Apple Raises Price of Apple Music Student Plan in Several Countries
Now, the details...
Compiled by Heidi Seo
Exploration Weekly - May 27, 2022
CISAC Outlines ISWC Advancements in Latest Annual Report
CISAC – the global organization for song rights collecting societies – has published its annual report, which includes an update on developments around the ISWC, the unique identifier for musical works that is managed by CISAC. The organization upgraded its ISWC system back in 2020, and “has made steady progress during 2021/22 in extending its global music identifier across the value chain”. “In the last two years societies have taken the opportunity of the new modernised system to redesign their allocation procedures, benefitting from improved web services which allow for the central assignment of ISWCs as part of their local registration processes”, the annual report goes on. CISAC aims to provide new services like automated access to the ISWC database to “disseminate the ISWC throughout the value chain, and with greater accuracy”.
US Copyright Office Issues a Supplemental Interim Rule Related to the Music Modernization Act Reports of Usage and Payment
Pursuant to Title I of the Music Modernization Act, the Copyright Office has issued a supplemental interim rule updating certain reporting requirements for digital music providers. The updates relate to reports of adjustment and annual reports of usage that digital music providers submit to the Mechanical Licensing Collective (MLC). The rule also makes related changes to certain annual reporting requirements and clarifies the due date for royalty payments related to annual reports of usage and reports of adjustment. The Copyright Office has determined to make this interim rule effective immediately, while soliciting public comments on whether it should further modify these specific reporting requirements going forward. Written comments must be received no later than July 8, 2022.
Cloud Village Music Subscribers Grew 51%, Revenues Up 38.6% in Q1
Revenues for Chinese music streamer Cloud Village rose 38.6% to USD $310.3 million in its first full quarter as a standalone company, the company announced. Gross profit improved to $37.8 million, up from a $8.1 million net loss in the prior year — following “favourable industry trends with more reasonable copyright fees and cost structures,” according to the earnings release. Launched by internet giant Netease in 2013, Cloud Village operates NetEase Cloud Music, China’s second-largest music streaming company behind Tencent Music Entertainment. Cloud Village’s monthly subscribers increased 51% to 36.7 million. However, average revenue per subscriber declined about 9.9%, primarily due to discounted subscriptions. Looking forward, the company plans to offer more tools to foster user-generated content creation and utilize social networking features, develop indie artists and offer more in-house production music. Additionally, Cloud Village is considering expansion opportunities in new markets.
IFPI Tests Regional Music Charts in Four MENA Countries
The Middle East and North Africa (MENA) was crowned the fastest-growing recorded music region in the IFPI’s latest report. As a result, the global body is testing music charts in four countries – Egypt, Morocco, Saudi Arabia and the UAE – drawing on data from Anghami, Apple Music, Deezer, Spotify and YouTube. The body accompanied its announcement with some new consumer research, suggesting that people in the UAE are listening to an average of 22.5 hours of music a week, 22% higher than the global average. The new charts will launch properly “soon”, said the IFPI.
Apple Raises Price of Apple Music Student Plan in Several Countries
Apple is increasing the price of its Apple Music student plans in several countries around the globe. A student from South Africa shared an email Apple sent announcing the price increase. “Thank you for subscribing to Apple Music. We wanted to let you know about an upcoming change to this subscription. Apple is raising the price of this subscription from $1.49 per month to $1.99 per month,” the email reads. MacRumors has confirmed that students in Australia, the Philippines, Singapore, Malaysia, Saudi Arabia, New Zealand, India, Indonesia, Israel, and Kenya are impacted by the Apple Music student plan price increase. The move appears to be focused on developing countries instead of established markets like the US and Europe. Currently, US students pay $4.99 per month for Apple Music. The news follows Spotify’s latest price increase last year of its student offerings around the globe by $1. Earlier this month, the Amazon Music Unlimited plans went up by $1, too.
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