Music Royalties 101
Summary
TLDRThis presentation offers an in-depth look at music royalties, explaining the concept, types, and how they generate income. It distinguishes between royalties and copyrights, highlighting the different revenue streams such as synchronization, mechanical, and performance royalties. The script delves into the distribution process, the role of publishers and labels, and the historical context of royalty earnings, providing insights into the music industry's financial landscape.
Takeaways
- 🎵 A royalty is a payment made to the owner of an asset, like a song, for the right to use that asset in the music business.
- 📝 In music, there are two types of copyrights for each song: one for the composition (written song) and one for the sound recording (recorded version).
- 👥 Multiple contributors to a song can have a royalty interest and collect royalties as compensation for their efforts.
- 💰 Royalties are paid out at set intervals and are based on the use of the music, not company performance, and are earned before stockholders' dividends.
- 🔄 There are different types of music royalties, including synchronization, mechanical, and performance royalties, each dependent on the use of the song or recording.
- 🏦 Royalties are collected and distributed by various entities, such as publishers for songwriters and labels or distribution services for artists.
- 📈 Copyright terms for music determine the length of time royalties are paid, with the current U.S. term being the lifetime of the last surviving author plus 70 years.
- 📊 Public performance royalties are common and are collected by performing rights organizations (PROs) like ASCAP or BMI for songwriters and publishers.
- 💿 Mechanical royalties are paid to songwriters when their music is reproduced and sold, with rates set by the Copyright Royalty Board.
- 🎬 Sync royalties are paid for the use of music in visual media like TV shows and commercials, with rates negotiable based on various factors.
- 📊 The global recorded music market has seen growth, with streaming revenues accounting for more than half of the total, and physical sales declining.
Q & A
What is the main difference between a royalty and other types of investments?
-A royalty is a payment made to the owner of an asset for the right to use that asset, and it is paid out at set intervals based on use, not company performance, whereas other investments like stocks may pay dividends based on the company's performance or profits.
How many types of copyrights does a song have?
-A song has two types of copyrights: one for the musical composition (as it is written) and one for the sound recording (as it is recorded).
What are the different types of music royalties?
-The different types of music royalties include synchronization royalties, mechanical royalties, and performance royalties, each based on how the songs and recordings are used.
Who typically collects and distributes the royalties for sound recording copyrights?
-Sound recording royalties are typically collected and distributed by record labels or distribution services, which then pay the artists according to their contracts.
How does the public performance royalty work for the composition copyright?
-Public performance royalties for the composition copyright are collected by performing rights organizations (PROs) like ASCAP or BMI, which monitor and collect royalties from various sources and then distribute them to publishers and songwriters.
What is the role of a music publisher in the royalty collection process?
-A music publisher signs a publishing deal with a songwriter, owns the copyright, and is responsible for exploiting the copyright to generate royalties through sync, mechanical, and performance rights.
How are mechanical royalties calculated for streaming services?
-The mechanical royalty rate for streaming services is much lower than for physical sales, calculated at approximately 0.0006 cents per song, with rates set by the Copyright Royalty Board.
What is the significance of sync royalties in the music industry?
-Sync royalties are payments made for the rights to use music in TV shows, commercials, movies, or online videos, and they are fully negotiable with custom rates for each use, contributing to a significant part of the music industry revenues.
How has the music industry revenue changed over the years according to the IFPI report?
-According to the IFPI report, the global recorded music market has seen growth, with streaming revenues accounting for more than half of the global recorded music revenue, while physical sales and digital downloads are falling.
What are the main sources of public performance royalties as reported by BMI?
-The main sources of public performance royalties reported by BMI include cable and satellite (30%), digital sources like streaming (28%), TV and radio broadcast (24%), and venues, live events, bars, and restaurants (18%).
How can an investor learn more about music royalties and the royalty exchange marketplace?
-Investors can download the ultimate guide to buying music royalties from the website, register for office hours Q&A sessions, explore the investor resources section of the blog, or subscribe to the marketplace update newsletter.
Outlines
🎵 Introduction to Music Royalties and Copyrights
Welcome to Music Royalties 101. This presentation covers what royalties and copyrights are, their differences, types of music royalties, income generation, money flow in the music industry, and a brief history of royalty earnings. A royalty is a payment made to the owner of an asset for the right to use it. In music, royalties are generated through licensing songs, and various contributors to a song's creation have royalty interests. Royalties are paid based on song usage, not company performance, providing revenue before stockholders receive dividends. Music royalties are categorized based on copyrights: composition and sound recording copyrights.
📝 Types of Copyrights and Royalties
Every song has two copyrights: one for the written song (composition) and one for the recorded song (sound recording). The composition copyright is owned by the songwriter, while the sound recording copyright is owned by the performer or recording artist. For example, Bob Dylan's 'Knockin' on Heaven's Door' has composition royalties for Dylan and sound recording royalties for his record label. Different types of royalties include synchronization, mechanical, and performance royalties, each generating income for both copyright holders. Publishers and record labels handle royalty collection and distribution for songwriters and artists, respectively.
🎤 Composition and Sound Recording Royalties
Composition and sound recording copyrights generate royalties through sync rights, mechanical rights, and performance rights. Songwriters often sign with publishers who exploit copyrights to generate royalties. These royalties are split between the publisher and songwriter. The sound recording copyright is typically owned by the record label, which provides artists with recording infrastructure in exchange for ownership and a share of royalties. Independent artists may use digital distribution services to manage their music and royalties. Copyright terms determine how long royalties are paid, with music created after 1977 having a copyright duration of the author's lifetime plus 70 years.
📻 Public Performance Royalties
Public performance royalties are paid when a song is played publicly outside of private settings. These royalties are collected from radio stations, TV networks, bars, clubs, restaurants, and streaming sites. Performing rights organizations (PROs) like ASCAP and BMI handle the licensing and collection for songwriters and publishers. In the US, sound recording copyright holders only collect performance royalties for digital and satellite radio through SoundExchange. Terrestrial radio royalties are unique to the composition copyright holders. Royalties and payments are negotiated and determined by PROs.
💿 Mechanical Royalties Explained
Mechanical royalties compensate songwriters when their music is reproduced and sold, including physical albums, digital downloads, and streams. The term 'mechanical' originates from the early days of player pianos. Today, mechanical royalties apply to various formats, with rates set by the Copyright Royalty Board. For example, the statutory rate for physical albums and digital downloads is 9.1 cents per song. Streaming royalties are significantly lower, with ongoing negotiations to increase rates. Artists covering songs must pay mechanical royalties to the original songwriters and publishers.
🎬 Synchronization Royalties and Licensing
Synchronization (sync) royalties are paid for the right to use music in TV shows, commercials, movies, and online videos. Sync licenses are negotiated based on the song's popularity, production budget, and usage context. Producers pay a sync fee for the composition and a master use license for the sound recording. Sync placements also generate performance royalties when the production is broadcast. These royalties provide an additional revenue stream beyond the initial sync fee, enhancing the overall earnings for songwriters and artists.
💰 Money Flow in Music Royalties
The flow of money for music royalties varies by type. Public performance royalties for compositions are collected by PROs and distributed to publishers and songwriters. Sound recording performance royalties are collected by SoundExchange and distributed to artists, labels, and a fund for session musicians. Mechanical royalties are paid by streaming services or retailers to publishers, who then pay songwriters. Sync licenses are paid directly to music publishers and record labels, who distribute the earnings to songwriters and artists. Each type of royalty has a unique flow, ensuring fair compensation for contributors.
📊 Music Industry Revenue Trends
The IFPI reports on global recorded music revenues, highlighting growth trends. In 2019, global recorded music revenues grew by 8.2% to $20.2 billion, with streaming accounting for over half of the revenue. Physical sales and digital downloads declined, while public performance and sync revenues remained stable. The NMPA reported US music publishing revenues at $3.72 billion in 2019, with performance royalties contributing the most. PROs like ASCAP and BMI have seen public performance royalties surpass $1 billion annually, with cable/satellite and digital sources being significant revenue contributors.
🔍 Additional Resources for Music Royalties
For further information on music royalties, resources include the 'Ultimate Guide to Buying Music Royalties' on the Royalty Exchange website, monthly Q&A sessions, a comprehensive investor resources library, and a weekly marketplace update newsletter. These resources provide insights into royalty types, industry changes, and investment opportunities, helping investors navigate the complexities of music royalty investments.
Mindmap
Keywords
💡Royalty
💡Copyright
💡Musical Composition Copyright
💡Sound Recording Copyright
💡Sync Royalties
💡Mechanical Royalties
💡Performance Royalties
💡Publisher
💡Record Label
💡Public Domain
💡Investment Perspective
Highlights
Royalties are payments made to the owner of an asset for the right to use that asset in the music business.
Multiple contributors to a song have a royalty interest and collect royalties as compensation for their efforts.
Royalties are paid out at set intervals based on use, not company performance, unlike dividends.
A song has two copyrights: one for the musical composition and one for the sound recording.
Different entities collect and distribute royalties for sound recording and composition copyrights.
Composition and sound recording copyrights generate royalties based on synchronization, reproduction, and performance uses.
Public performance royalties are collected by performing rights organizations like ASCAP or BMI for songwriters and publishers.
Sound recording royalties for public performance are collected by SoundExchange, primarily for internet and satellite radio.
Mechanical royalties compensate songwriters for the reproduction and sale of their music.
Sync royalties are paid for the use of music in visual media, such as TV shows and commercials.
Copyright terms determine how long royalties are paid, with music created after 1977 having a lifetime plus 70 years of protection.
The global recorded music market saw growth, with streaming revenues accounting for over half of the total revenue.
Physical sales and digital downloads are declining, while streaming continues to grow as the primary source of music consumption.
Performance royalties are a significant contributor to publishing revenues, alongside mechanical and synchronization royalties.
Digital sources are becoming increasingly important for public performance royalties, especially for older music.
Investors can access resources and guides to better understand music royalty investments and the market.
Transcripts
hello and welcome to music royalties 101
in this presentation we'll explain what
royalties and copyrights are and how
they work the different types of music
royalties and how they generate income
how money flows through the music
industry and a bit about the history of
royalty earnings over time so let's get
started
so first what is a royalty and how a
royalty is different than other types of
investments a royalty is a payment made
to the owner of an asset for the right
to use that asset in the music business
songs are licensed for various types of
views and those uses generate royalties
a royalty interest is the right to
collect on a stream of royalty payments
in the music business multiple people
who contribute to the creation of a song
have a royalty interest in that song and
collect those royalties as compensation
for their efforts
any time that song is used those who own
royalties attached to it will collect
royalty payments depending on their
contribution to the song and how it's
used from an investment perspective
royalties are cut off the top of the
revenues generated by music they are
paid out at set specified intervals
payment is based on use not company
performance and all this means that the
royalty holder earns revenue before
stockholders in a company royalties are
not awarded based on the woman of a
corporate board like a dividend for
instance so think of a royalty like
earning a penny for every iPhone sold
versus a share of Apple stock the music
business generates multiple types of
royalties and each royalty stream is
dependent on the kind of copyright they
are associated with every song has two
copyrights one for the song as is
written and one for the song as it is
recorded take for instance the song
knocking on heaven's door written and
performed by Bob Dylan the musical
composition copyright covers a song as
it is written by the songwriter this is
the person who wrote the melody notes
lyrics etc once that song is recorded
another copyright is generated called
the sound recording copyright the person
or the band who recorded the song owns
the recording copyright in some cases
the songwriter and the performer are the
same person such as in this case but
often multiple songwriters may assist in
writing the songs and all will have a
royalty interest on the use of the
composition copyright also as in this
case other artists may record the song
and they will own and collect royalties
on the sound recording copyright for the
version they record but only the
songwriter in this case Bob Dylan will
collect the composition
royalties for those versions other than
his own we'll get into more of that in a
minute but first let's talk about what
types of royalties pay to these two
copyrights both the sound recording and
the composition copyrights generate
royalties based on how the songs and
recordings are used these include
synchronization royalties reproduction
or mechanical royalties and performance
royalties we're gonna get into what each
of these are in a moment but for now you
can see that both the sound recording
and the composition copyright holder
earns royalties for these uses finally
there are different entities that
collect and distribute the royalties
generated by each copyright songwriters
sign with publishers or use publishing
administration services for their
royalties an artist sign with labels or
use distribution services for theirs as
you can see here Bob Dylan's record
label Columbia Records collects the
royalties for the sound recording
copyright of the song and pays Dylan
according to his contract with the label
in this example we're focusing on the
original studio recording now if there
was a live recording by Bob Dylan on the
same song that would create yet another
master or sound recording copyright and
that live version would collect
royalties in the same way as the studio
version but only for uses of the live
version versus the studio version now
for the composition Dylan's publishers
Sony ATV and ram's horn music hold the
composition copyright for the song and
they paid Dylan his share of royalties
based on his publishing agreement with
them now there can only be one
composition copyright for a song but one
song could have multiple master
recordings so let's look at the Guns
N'Roses version of the same song knockin
on heaven's door at the left you'll see
that we changed the version of the
recorded song from Bob Dylan to Guns &
Roses and as you can see here Guns
N'Roses and their label Geffen Records
collect the sound recording royalties
for the version of the song that they
recorded Bob Dylan and his publisher
meanwhile collect the composition
royalties because Guns and Roses used
his original composition for their
recording Bob Dylan does not collect
royalties for the Guns N'Roses sound
recording only Guns and Roses collects
that but Bob Dylan does collect on the
composition so let's talk about how
these are grimas and writes work here's
an overview of the composition copyright
again the composition copyright collects
royalties for sync rights mechanical
rights and performance rights these
royalties are split between the
publisher share and the writers share
typically a songwriter will sign with a
publisher and what's called a publishing
deal in these deals
the publisher winds up owning the
copyright and in return has the task of
exploiting the copyright to generate
royalties through sync mechanical and
performance rights that means they'll
work to license the music to generate
sync income and ensure that anyone
selling or streaming the music has
permission to do so all realities
generated from the composition copyright
are split between the publisher and the
songwriter typically it's 50/50 for
performance royalties but mechanical and
sync splits can vary by the label deal
or by the publisher deal rather
sometimes multiple songwriters work with
the same publisher in which case the
publisher will keep half over the
royalties and the songwriters will split
the other half between themselves based
on internal split agreements and in
still other cases a songwriter might be
self-published and in which case they'll
collect all the royalties now the sound
recording copyright works a little bit
differently typically artists sign a
contract with the record label the label
preside provides in advance and the
recording infrastructure for artists to
record their album in return the label
will own the sound recording copyright
any royalties the sound recording
copyright earns is collected by the
label and then label pays the artists
percentage of the royalties based on
their contractual agreement this can be
like 15% to the artist or it could be
far more the range varies widely some
artists don't work with the record label
taking what's called the DIY route or
indie route these artists use digital
distribution services to get their music
on various digital services and then
either conduct their own marketing and
promotion or hire services or
consultants to do it for them either way
they collect all of the royalties the
sound recording royalties that they
generate finally recording artists will
also hire other musicians and producers
that are not formally part of the band
to contribute to the recording these
musicians and producers may also be
awarded a portion of the royalties as
compensation for their contribution to
the recording now a quick note about
copyright terms and by terms we mean the
length of time that the copyright is
valid royalties are only paid for as
long as the copyright is enforced
once the copyright expires the asset
enters the public domain and no
royalties are paid for them but one of
the greatest advantages to owning a
music royalty attached to a copyright is
the length of time the copyright remains
in force from music created after 1977
the duration of copyright in the u.s. is
a lifetime of the last Romanian author
Plus 70 years music before then is
governed by different rules to
and on when the music was created but
the maximum copyright length under the
old rules was 95 years after creation
now let's break down in greater detail
each of the different types of royalties
we've outlined first we'll dig in the
public performance royalties due to the
songwriter as this is the most common
royalty stream we make available to
investors in the royalty exchange
marketplace a public performance license
and royalty payment is necessary
whenever a song is played or performed
publicly outside of a private circle of
family or friends that means if you're
having a barbeque and you play music
through your backyard speakers you don't
know a music royalty for a public
performance but if you're at a barbecue
restaurant that is streaming music into
the dining area that restaurant owner
does public performance royalties
collect from multiple sources these
includes radio stations TV networks bars
and clubs restaurants music venues and
streaming sites like Pandora or Spotify
all of these pay public performance
royalties as a regular cost of doing
business if the business in any way
shape or form plays music as a way to
enhance their business to the public
they are required by law to obtain a
public performance license from the
copyright holder however there are
differences with the composition rights
holder and the sound recording rights
holder in terms of how they collect
public performance royalties for the
musical composition publishers and
songwriters outsource the licensing and
collection of public performance
royalties to collection organizations
such as ASCAP or BMI these companies are
known as performing rights organizations
otherwise known as PR o--'s their
activity covers all sources of public
performance royalties that I mentioned
but only for songwriters and publishers
on the composition side in the US the
sound recording copyright only collects
public performance royalties for radio
streaming via satellite and the internet
record companies and performing artists
typically outsource the licensing and
collection of these public performance
royalties to an organization called
sound exchange although some have struck
direct deals with the services as well
it's worth noting that in the US the
sound recording copyright holder does
not collect royalties for music played
over terrestrial radio only the
composition rights hold it receives that
public performance royalty this is
unique to the US and a handful of other
countries like Iran and North Korea this
means that for songs recorded in the
radio airplay in other countries also
will likely not result in royalties for
the sound recording copyright since
there's no reciprocal agreement with
those countries now there is no finite
royalty rate or mathematical formula
available to the public to calculate
exactly what each performance of a song
earns the royalties and payments are
negotiated and determined by the
performing rights organizations again
ASCAP and BMI so now let's talk about
mechanical royalties these are how
songwriters are compensated when the
music they write is in any way
reproduced and sold this includes the
saleable final record a CD digital
download and even streams on Spotify and
Apple music the term mechanical harkens
back to the day when the main way to
listen to music was through player
pianos rolls of perforated paper were
created that once inserted into the
piano told it which notes to play this
required machines to mechanically press
the piano rolls in order to produce a
song and to multiple copies of sound
recordings to sell to the public in
other words the composition was
mechanically reproduced that term stuck
and overtime and is applied to vinyl
records and then cassette tapes CDs
digital downloads and now even streaming
so whenever an artist or a record
company wants to reproduce a song
through a sound recording they have to
pay a mechanical royalty to the owner of
the composition copyright for instance
earlier we explained how Guns'n'Roses
recorded Bob Dylan's knockin on heaven's
door whenever that song is sold or
streamed GNR Guns'n'Roses
must pay a mechanical royalty to Bob
Dylan and his music publisher so
essentially when an artist covers
someone else's song and releases it on
their album or when an artist writes
their own song the record company owes
the artist of mechanical royalty the
amount of that payment depends on the
format the statutory rate for the
mechanical royalty today is at 9.1 cents
per song per album copy for all physical
albums and digital downloads financially
this means that for every million albums
or songs sold the mechanical role T
generates around 91 thousand dollars in
earnings for the songwriter publisher
now the mechanical royalty rate for a
streaming song is much lower it's
calculated about point zero zero zero
six cents per song now mechanical
royalty rates are set every so often by
a group of
judges called the copyright royalty
board every few years they take input
from both the services and the artists
and determine a new rate schedule for
the years ahead
there are different hearings for each
type of format that pay mechanical
royalties streaming sales and so on
the most recent hearing for streaming
mechanical royalties was in 2018 and the
CRB ruled that streaming services would
have to increase the rate that it pays
songwriters and publishers for both
mechanical and publishing royalties from
10.5% of their annual revenues to 15.1%
at a rate that increases one percent a
year from 2019 through 2022 overall
that's a 44 percent increase over those
four years however some of the streaming
services like Spotify and Amazon in
particular are appealing that ruling now
let's talk about sync royalties if
you've ever watched a TV show or
commercial or seen a movie or streamed a
video online you've probably noticed the
amount of music that's used well the use
of this music has a cost and the
payments made for the rights to use
music in this way is called the sync
royalty the term sync is used because
the producers have to pay a licensing
fee to synchronize the songs or the
music to their video this means at any
time there's a marriage of music
individual images a sync license is
necessary the sync rate is licensed from
the music publisher for the musical
composition if the recording is also
used then a master use license is
required from the record company for the
actual sound recording it's an important
distinction because in some cases only
the composition is used like when a
character is sing in a song versus the
actual recording that the artist made
now there are no set rates for sync
licenses they are fully negotiable with
custom rates for each abuse factors can
include the popularity the song the
budget of the TV film production the
stature of the artist as well as other
factors like the timing and prominence
of the song and a particular scene now
it's also worth noting that sync
licenses also lead to a second income
stream which we already discussed
performance royalties each time a song
is used in a TV or film production the
initial sync fee is paid upfront it's a
one-time fee which is just for the
rights to place the song in the
production but then whenever the
production is broadcast on TV or film or
whatever then it generates a public
performance royalties so with a really
great sync placement of song you get
bonus money on top of the initial fee
so those are the main types of royalties
now we're gonna look at how the money
actually flows in each case for public
performance royalties do on the
composition copyright which you'll
remember is paid to the publisher and
songwriter the entity performing the
music publicly like the radio station
the TV venue or the service pays a
public performance royalty to an
organization called the PR ro which we
discussed earlier these companies do all
the work of monitoring and collecting
public performance royalties and then
pay their members both published ins as
publishers and songwriters directly for
a public performance royalties doing the
sound recording the different
organization called sound exchange does
the collecting satellite radio webcaster
internet radio stations pay the
performance world the two sound exchange
and sound exchange plays the artists 50%
the label 45% and then will pay 5% to a
fund set up through sag-aftra
to pay background musicians and session
musicians and things like that now on
the reproduction side the mechanical
royalty do the song writer and publisher
is paid differently depending on the
format for on-demand streaming services
the service will pay the publisher
directly and the publisher will pay the
songwriter their cut based on their
agreement for more retail sales like
digital or physical sales generally the
retailer pays the label and the label
then passes on the royalty to the
publisher who then pays the songwriter
now for the sound recording the
reproduction royalty is a little bit
more straightforward both the on-demand
streaming services and the retailers
will pay the label and the label pays
the band or the artist and supporting
artist per their contract the artist
cuts can vary widely from anywhere from
12% of income in royalties to even 50%
or more and it depends on the deal in
the stature of the artist now sync
licenses are also pretty simple the
producer of the ad or the TV show or
whoever simply pays the sync license to
the music publisher who then pays a
songwriter and if they're using a master
recording the same people will pay the
master use license to the record label
who then pays the artist finally let's
take a quick look at how the different
types of royalties contribute to overall
music industry revenues and how each has
grown over the years the IFPI is the
global trade organization for record
labels and produces an annual report on
the state of the industry with tracks a
lot of this here you'll see the most
recent chart tracking sound recording
revenues which includes all of 2019 data
a great chart because it shows not only
the total world the earnings but also
the source of royalties and both the
growth rates and contribution levels
they provide over a year over a year as
you can see some record and royalties
have rebounded from their low of 2014 to
increase annually every year since for
2019 total revenues for the global
recorded music market grew by 8.2
percent to 20 point two billion
streaming revenues as indicated by the
dark blue bars grew by twenty two point
nine percent to eleven point four
billion and that's notable because for
the first time streaming has accounted
for more than half of global recorded
music revenue at fifty six point one
percent now physical sales have fallen
by five point three percent as indicated
by the red bars and download sales
digital downloads as indicated by the
lighter blue bar are both also falling
and public performance in sync as
represented by the yellow and orange
bars respectively they're largely flat
or even year-over-year but if you look
at it historically usually they're
higher than their historic levels now
there's less data available globally for
publishing the national music publishers
Association reports on us publishing
figures which is what we'll show here
and it's thanks to a compilation of data
provided by the trade news organization
music business worldwide according to
the n MPA music publishers in the u.s.
generated three point seven two billion
in revenues in 2019 which is up eleven
point six percent year-on-year looking
at what contributes to that fifty two
point three percent of that figure came
from performance royalties eighteen
point five percent about 497 million
came from mechanical royalties and
twenty two point seven came from
synchronization royalties now let's look
at public performance royalties
specifically if you remember we said
that public performance royalties are
collected and distributed by
organizations called PR o--'s this chart
here shows what the two largest us PR
roles reported over the years ASCAP and
BMI now these two organizations report
on different fiscal year time frames so
they don't exactly match up timewise but
generally you can see that both have
surpassed 1 billion in public
performance royalty distributions for
the past three years and each year in
that time I said an all-time high
now it's also worth noting that public
performance royalties are generated from
multiple sources this chart shows how
the public performance earnings as
reported by BMI breaks down
in terms of source might be a little
hard to read so you'll see here that
cable and satellite represent the
biggest bucket at 30% while digital
sources like streaming for instance come
in very close second at 28% TV and radio
broadcast is at 24% and you know venues
live events bars restaurants and cetera
come in 18% now that's on royalties that
BMI collects which is includes a lot of
newer music the kind of music that we
don't necessarily make available on
royalty exchange we did our own analysis
and found that basically digital was by
far for the royalties acquired on
royalty exchange digital was by far the
leading source of earnings for public
performance royalties
whereas venues and TV and satellite and
things like that were actually closer to
1% largely because the music acquired on
royalty exchange is older the bands are
less likely to be taurine although many
still are and just generally it's this
the kind of royalties that you're
looking at in royalty exchange are
driving most of the revenue from
streaming so that's the overview and
some context and the music royalties we
hope this helps you understand the
activity behind your music royalty
investments a little better if you'd
like to dig in further we do have a few
resources for you one easy you can
download the ultimate guide to buying
music royalties which is available on
our website
you could always register from one of
our office hours Q&A sessions which we
hold monthly and you can ask any
question you like either in advance or
live during the call we do have a rather
broad investor resources library on our
website from our blog just go to blog
and look for the investor resources
section you'll see a number of articles
that'll be very helpful for you and you
could always of course subscribe to our
marketplace update newsletter which we
send once a week that includes
all the different types of royalties
that are currently available on the site
the activity on the site and also links
to some news articles that might help
you keep track of the you know weekly
changes and what's happening in the
music business so with that thank you
for watching we look forward to seeing
you on the royalty exchange marketplace
関連動画をさらに表示
The DARK REALITY of MUSIC INDUSTRY Exposed
Autopilot Passive Income: 25 Best Ways to Make Money
Sebulan Ribut Soal Royalti, Ahmad Dhani dan Once Mekel Akhirnya Bertemu | Liputan 6
Best Music Production Tips by Top Artists & Producers
How AI will slowly destroy the music business
Module A – Indian Financial System - Topic 1
5.0 / 5 (0 votes)