Exploration Weekly - Music Industry to “Provoke Accountability” in Wake of George Floyd Death / Black Out Tuesday Impact and Phase 2

“We must speak with all the humility that is appropriate to our limited vision, but we must speak.”

Martin Luther King, Jr.

On Tuesday, global music industry’s leading companies took part in a shutdown known as “Black Out Tuesday,” calling for justice in the case of George Floyd, the black man who died while being pinned to the ground by a Minneapolis police officer. The shutdown was led by the #TheShowMustBePaused initiative launched by executives Jamila Thomas of Atlantic Records and Brianna Agyemang of Platoon.

As a result, the hashtag was shared more than 700,000 times, while the initiative’s official social accounts racked up over 70,000 followers on Tuesday. About 1,500 black members and allies of the music community also came together with thoughts and ideas that are to be incorporated into Phase 2 of the initiative.

Agyemang said in a statement, “Next steps are about clarifying needs and mobilizing the people to be the change we wish to see. The goal is to tap into the community at large to create change that is impactful and long lasting”.

For more information on #TheShowMustBePaused, visit the movement's official website. And for a list of more ways to help, click on the Billboard article here, outlining how artists and the music industry have participated.

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In this newsletter:

Music Business Set for “Black Out Tuesday” to “Provoke Accountability” in Wake of George Floyd Death
Organizers Detail Black Out Tuesday Impact as Initiative Prepares for Next Phase
Warner Music Valued at Nearly $15 Billion After IPO
Apple Services Bundle in Development, Suggests iOS 13.5.5 Beta Code (Report)
PPL Collected More Than $342 Million in 2019 - And Paid All-Time-High Number of Performers
Yeasayer’s Song-Theft Lawsuit Against Kendrick Lamar and The Weeknd Dismissed

Now, the details...
Compiled by Heidi Seo

Exploration Weekly - June 5, 2020

Music Business Set for “Black Out Tuesday” to “Provoke Accountability” in Wake of George Floyd Death

Many of the global music industry’s leading companies have taken part in “Black Out Tuesday” this week on June 2. Those who have confirmed their participation include BMG, Universal Music Group (including UMPG), Kobalt, Hipgnosis Songs Fund, ASCAP, Milk & Honey, Grand Hustle Records, Downtown, SESAC, Boomplay, Concord, Symphonic Distribution, SoundExchange, BMI, UTA, and many more. The move is being made as a statement of solidarity in response to the death of George Floyd in Minneapolis. An image began spreading on social media on Friday (May 29), containing text calling for a music industry “Black Out” on Tuesday, while promoting the hashtag #TheShowMustBePaused. It proposed that Tuesday be used as “a day to disconnect from work and reconnect with our community” via “an urgent step of action to provoke accountability and change.”

Organizers Detail Black Out Tuesday Impact as Initiative Prepares for Next Phase

The music industry shut down on Tuesday in a show of solidarity with protesters calling for justice in the case of George Floyd, the black man who was fatally pinned down by a Minneapolis police officer for over eight minutes. That shutdown was led by the #TheShowMustBePaused initiative launched by executives Jamila Thomas of Atlantic Records and Brianna Agyemang of Platoon. Agyemang and Thomas shared results on Wednesday, reporting that the #TheShowMustBePaused hashtag was shared more than 700,000 times, while the initiative’s official social accounts racked up over 70,000 followers Tuesday. More than 1,500 black members and allies of the music community also came together, bringing forth thoughts and ideas that will be incorporated into what is now being referred to as Phase 2 of the initiative. Agyemang said in a statement, “Next steps are about clarifying needs and mobilizing the people to be the change we wish to see. The goal is to tap into the community at large to create change that is impactful and long lasting”. For more information on #TheShowMustBePaused, visit the movement's official website.

Warner Music Valued at Nearly $15 Billion After IPO

Warner Music Group (WMG) announced the pricing of its initial public offering of 77,000,000 shares of its Class A common stock at a public offering price of $25 per share for a market capitalization value of around $12.7 billion, which rose 15% to nearly $15 billion in early trading. The size of the IPO increased from the previously announced 70,000,000 shares of Class A common stock. The offering consists entirely of secondary shares to be sold by Access Industries and certain related selling stockholders. The underwriters will have a 30-day option to purchase up to an additional 11,550,000 shares of Class A common stock from the selling stockholders. WMG, which is owned entirely by Access Industries, first announced its intention to launch an IPO in February. The company delayed it on March 2 when the coronavirus pandemic took effect in the US and Europe.

Apple Services Bundle in Development, Suggests iOS 13.5.5 Beta Code (Report)

Bloomberg’s report in November stated that an Apple services bundle including News+, Apple TV+, and Apple Music, for a single monthly fee could become a reality “as soon as 2020”. The company was considering the move “in a bid to gain more subscribers,” according to people familiar with the matter. Now, 9to5Mac confirmed to have found evidence that Apple is currently developing a bundle, citing iOS 13.5.5 beta code. 9to5Mac claims to have found references to phrases like “bundle offer” and “bundle subscription” in iOS 13.5.5 internal files that weren’t present in previous versions of iOS. “These codes are related to the management system of Apple’s own services subscriptions like Apple News+, so we believe the company still has plans to offer a discount combo with its services,” reports 9to5Mac.

PPL Collected More Than $342 Million in 2019 - And Paid All-Time-High Number of Performers

UK music licensing and performance rights organization Phonographic Performance Limited (PPL) revealed that it collected more than $342 million (£271.8 million) worth of recording royalties on behalf of its members in 2019. This represents a 10% increase from 2018, according to PPL, notably produced by year-over-year upticks in broadcast and online income, public performance and dubbing, and international collections. In explaining the broadcast and online revenue jump, PPL cited the closure of “major long-term licensing deals” with television stations and “an increase in the number of smaller radio broadcasters and online linear webcasters acquiring licenses.” Public performance and dubbing growth was attributed to the efficiency and accessibility brought on by a joint venture with PRS for Music, PPL PRS, Ltd. And international collections’ expansion resulted from agreements with global collective bodies, several of which, including some in Africa and Latin America’s quickly developing markets, submitted collections for the first time.

Yeasayer’s Song-Theft Lawsuit Against Kendrick Lamar and The Weeknd Dismissed

The song-theft dispute between Yeasayer and Kendrick Lamar/The Weeknd is now over, with the former saying that they are now satisfied that no copyright infringement ever actually occurred. The band sued Lamar and The Weeknd, real name Abel Tesfaye, back in February over the duo’s 2018 collaboration “Pray For Me,” claiming that Lamar and Tesfaye had sampled without permission a choral performance that appears on their 2007 track “Sunrise”. Lawyers for Lamar and Tesfaye hit back at those allegations, insisting that “Pray For Me” was “created independently from and without knowledge of the allegedly infringed work”. In a new legal filing on Monday, the two parties stated, “Plaintiffs Yeasayer LLC and We Are Free LLC having confirmed to their satisfaction that no copyright infringement occurred, plaintiffs and defendants Abel Tesfaye, Adam Feeney and UMG Recordings, through their respective attorneys of record, stipulate to the dismissal of this action in its entirety as to all defendants”.

Random Ramblings

How to help like artists and the music industry are doing in the wake of George Floyd’s death.
Latin record labels speak out supporting “Black Out Tuesday”.
Lady Gaga and BLACKPINK break Spotify and YouTube records with "Sour Candy".
Bad Bunny scores his ninth No. 1 on the Latin Airplay Chart with "Yo Perreo Sola".
Kane Brown sings for equality in his new uplifting song, "Worldwide Beautiful”.

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