From TikTok guardian’s track streaming plans to Latin Track’s $510m US revenues in H1… it’s MBW’s Weekly Spherical-Up

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Welcome to Track Industry International’s weekly round-up – the place we be sure that you stuck the 5 greatest tales to hit our headlines during the last seven days. MBW’s round-up is supported by way of Centtrip, which is helping over 500 of the arena’s best-selling artists maximise their source of revenue and cut back their traveling prices.


Hypothesis concerning the pending international release of a devoted TikTok Track provider has been amassing tempo for months.

This week, a file from The Wall Boulevard Magazine introduced information that TikTok’s guardian ByteDance is in talks with report corporations about increasing its Resso track app into a number of new territories (now not together with america first of all).

Resso is these days best to be had in Brazil, India and Indonesia, and the reported enlargement plans, if a hit, would see the app release in “greater than a dozen” new territories.

The WSJ’s article follows MBW’s file remaining week that no less than six verified Twitter accounts have popped up in a couple of international markets for ‘TikTok Track’.

In line with MBW’s assets, ByteDance’s plan is assembly some resistance from positive track rightsholders who query the present financial praise their track receives from TikTok itself (a separate platform to Resso).

Every other reason for worry for some track rightsholders, stories the WSJ, are the payouts they’re seeing from Resso, which – very similar to Spotify – operates each an ad-funded and subscription tier.

In different places, MBW reported that Latin Track continues to be on target to hit $1 billion in revenues in the USA this 12 months, after rising 23% in H1 2022, to succeed in $510 million.

No longer best is Latin Track nonetheless on target to hit $1 billion in revenues in america by way of the top of the 12 months, however its enlargement could also be outpacing that of the broader US recorded track marketplace.

This week additionally introduced information that Julie Greenwald has been promoted to the position of Chairman and CEO of a newly-created entity at Warner Track – Atlantic Track Workforce.

In her new publish, the generally revered Greenwald oversees Atlantic Data (together with the Atlantic, ATCO, Giant Beat, and Canvasback labels) in addition to 300 Elektra Leisure, which encompasses 300, Elektra, Fueled By means of Ramen, Roadrunner, Low Nation Sound, DTA, and Public Intake.

Plus, BMI is converting to a for-profit style, whilst SoundCloud introduced a brand new author dashboard and rebranded artist products and services platform, now dubbed SoundCloud for Artists.

Right here’s what came about this week…


1) TIKTOK PARENT IN TALKS WITH LABELS TO LAUNCH MUSIC STREAMING SERVICE IN 12+ NEW MARKETS – REPORT

The Wall Boulevard Magazine reported on Wednesday (October 12), bringing up other people accustomed to the discussions, that TikTok guardian ByteDance is in negotiations with report corporations about increasing its devoted music-streaming platform to a couple of new markets.

The transfer, if a hit, would see TikTok’s sister app, Resso, increase out of its 3 present marketplaces – Brazil, India and Indonesia – and into “greater than a dozen” new territories.

To start with, the ones markets would now not come with the USA, stories the WSJ, bringing up assets…


2) WITH REVENUES OF $510M IN H1, LATIN MUSIC IS STILL ON COURSE TO GENERATE $1 BILLION IN THE US THIS YEAR

In April, MBW predicted that the recorded track marketplace for Latin artists in the USA will generate over one thousand million bucks in income around the three hundred and sixty five days of this 12 months.

Latin track generated $886.1 million on a retail foundation (cash spent on streaming subscriptions, in addition to bodily and virtual track), in america in FY 2021, which used to be up by way of 35.4% as opposed to the prior 12 months.

As reported in April, this annual income determine will now best need to upward push by way of an extra 12.9% (+$114m) in 2022 to hit 1 billion bucks.

In line with new mid-year information launched in a file by way of the RIAA, on a retail foundation, Latin Track may be very a lot on target to hit $1 billion in revenues in the USA this 12 months, after rising 23% within the first part of 2022, to succeed in $510 million.


Julie Greenwald, Atlantic Records

3) JULIE GREENWALD PROMOTED TO CHAIRMAN & CEO OF NEWLY-CREATED ATLANTIC MUSIC GROUP

Julie Greenwald has been promoted to the position of Chairman and CEO of a newly-created entity at Warner Track – Atlantic Track Workforce.

In her new publish, the generally revered Greenwald oversees Atlantic Data (together with the Atlantic, ATCO, Giant Beat, and Canvasback labels) in addition to 300 Elektra Leisure, which encompasses 300, Elektra, Fueled By means of Ramen, Roadrunner, Low Nation Sound, DTA, and Public Intake.

Greenwald and Craig Kallman will proceed to collectively lead Atlantic Data, with Kallman as Chairman and CEO, in step with a press unencumber issued by way of Warner Track Workforce (WMG) on Wednesday (October 12).


4) AFTER SCRAPPING SALE PLANS, BMI TRANSITIONS TO A FOR-PROFIT BUSINESS MODEL

There’s a vital alternate afoot at US-based efficiency rights corporate BMI (Broadcast Track Inc.).

BMI printed on Wednesday (October 12) that its not-for-profit trade style, beneath which it has operated for the reason that PRO used to be based in 1939, is converting to a for-profit style.

The scoop used to be introduced by way of the corporate in a publish printed to its website online, which incorporates a be aware despatched by way of BMI President & CEO Mike O’Neill to the group’s associates…


5) THE EXEC WHO BUILT SPOTIFY FOR ARTISTS JUST LAUNCHED… SOUNDCLOUD FOR ARTISTS

SoundCloud simply introduced a brand new author dashboard and a brand new title for its artist products and services platform, now dubbed SoundCloud for Artists.

‘SoundCloud for Artists’ used to be previously referred to as ‘Repost’ which SoundCloud obtained in Might 2019 for round $15 million.

Following the purchase of Repost, in April 2020, SoundCloud introduced its Repost by way of SoundCloud advertising and marketing and distribution platform. On the time, it stated that it used to be aimed toward “severe artists who need to take their occupation to the following stage”.

Now, all of that has been reborn as ‘SoundCloud for Artists’. The rebranded products and services platform used to be introduced on Thursday (October 13) by way of Tracy Chan, SoundCloud’s Senior Vice President of Writer, and previous Head of Track at Twitch.

Previous to becoming a member of Twitch, Chan used to be Director of Product Control at Spotify, the place he led the method and construction of analytics gear for artists and labels, together with Spotify Analytics and… Spotify for Artists…


MBW’s Weekly Spherical-Up is supported by way of Centtrip, which is helping over 500 of the arena’s best-selling artists maximise their source of revenue and cut back their traveling prices.

 Track Industry International



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