Publishing
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The Copyright Royalty Board issued a landmark determination Tuesday (May 23) for Phonorecords III, maintaining an up to 44% raise for U.S. songwriters and publishers’ headline rate for mechanicals by the end of the period of 2018 to 2022.
The ruling increases those royalties each year during the five-year period — from 11.4% to 15.1% of service revenue by 2022 — but also affirmed key requests from streaming services during their lengthy appeal, limiting royalties based on total content cost (TCC) and reinstating a rate ceiling step in the formula. While the document is restricted from public viewing, an appendix to that determination containing the regulations at the heart of the restricted document was released to the public Wednesday (May 24).
To calculate how much is owed to songwriters and publishers, streaming services use a complex, multi-pronged formula dependent on numerous considerations. Many of these elements were revealed prior to the release of this week’s documents, so while it is noteworthy that the board is now in the last stages of finalizing the rules for Phono III after an appeal by digital services in 2019 was remanded back to the CRB, this determination cements what was previously reported. It has been described in the past as a “mixed decision” by insiders, with some stipulations favoring the interests of the music business while others favor streaming services.
Proceedings to decide how to pay songwriters and publishers for U.S. mechanicals during 2018-2022 began over five years ago. In 2018, a CRB determination set the headline rate moving upwards from 10.5% of a streamer’s revenue in 2018 to 15.1% in 2022 and increased the subscriber count calculations for discounted family and student plans to 1.5 times and 0.5 times respectively.
The 2018 determination also removed the publishing rate ceiling mechanism that prevents the publishers from automatically benefiting with higher payments when their label counterparts are able to negotiate higher rates for their master recordings. This was one of many qualms streamers had with this determination, given that many details were especially favorable to the music business. Spotify, Pandora, Google and Amazon noted then that they felt the board “acted arbitrarily and capriciously by simultaneously combining a TCC prong with an increase in the percentages of revenue prong, [or ‘headline rate’].”
Because some of the digital services hoped to regain some of the more streamer-friendly stipulations from the previous period — Phono II — Spotify, Pandora, Google and Amazon launched an appeal that was successful and resulted in a “remand” process that dragged on until now — after the 2018-2022 period was over. Apple, notably, did not participate in the appeal.
The new Phono III determination upholds the previous headline rate of up to 15.1% of streamer’s revenue by 2022, increasing each year by a full percentage point or by 0.9 of a percentage point, similar to how it was determined in 2018. This detail was revealed by the board in July 2022, as Billboard reported at the time. It also upholds the subscriber count calculations of 1.5 times for discounted family and 0.5 times for student plans, as proposed in 2019.
The appeal did, however, result in a few key wins for streaming services. It also reinstalled a rate cap of 80 cents per subscriber. Namely, the appeal lowered the total content cost calculations — which limits songwriter and publisher payouts to a percentage of what is paid to labels — from what the board determined in 2018.
While the music business was hoping for a TCC rate of 26.2%, the streaming services requested and received a range of different rates depending on the offerings, from the lesser of 20.65% of TCC up to 22% of TCC.
The U.S. mechanical royalty owed to music publishers and songwriters is calculated based on choosing between either the royalties calculated using the headline rate; or the lesser of either the percentage of TCC or 80 cents per subscriber. Whichever of the two pools is greater is selected as what’s known as the “all-in pool.” Afterward, the performance royalties are subtracted from the all-in pool, leaving just the mechanicals behind. The mechanicals are then measured against a per-subscriber pool, and whichever is bigger becomes the final mechanical royalty pool paid out to publishers and songwriters.
The most important TCC percentage rate for Phono III, the rate for standalone portable subscriptions, is 21% of TCC against 80 cents per subscriber.
Since the all-in royalty rates for this prong of the formula are determined based on the greater of the two options — either the headline rate or the lesser of the TCC pool or an 80 cents per subscriber calculation — it is feasible that the TCC rate will not be employed in certain future situations.
In the past, this prong of the formula has helped publishers get a percentage above the headline rate. For example, in 2021, when most services had reverted to the 2013-2017 term headline rate of 10.5%, the multi-pronged formula helped yield an all-in 13.4% of service revenue for publishing royalties.
Participants in the remand included the National Music Publishers’ Association, Nashville Songwriters Association International, songwriter George Johnson — who personally fought back against the streaming services on behalf of the independent songwriter in self-filed court documents — Spotify, Pandora, Google and Amazon.
Next, there is a 15-day window for rehearing motions. Then the Copyright Office will conduct a legal review for error, which could take up to 60 days. After that, the determination will be fully published, giving streaming services and the music business six months to go review and adjust past payments made for U.S. mechanicals to the new rates for 2018-2022 — a process that will likely be a financial boost for the music business.
Still, after this determination is published, the parties will have the opportunity to file a notice of appeal for 30 days.
“We are pleased the court finally has confirmed the result of Phono 3, a case which was decided in 2018. This initial remand decision upholds the 15.1% headline rate increase we fought for, however the length of time we have waited for this decision proves the Copyright Royalty Board system is woefully flawed. Now songwriters have some certainty about their rates, and we will ensure they receive the hundreds of millions of dollars that digital streaming companies owe them during this adjustment period,” said David Israelite, president/CEO of the NMPA.
“The testimonies of the three songwriter witnesses in this trial were powerful, convincing and illustrated the difficulty of songwriters earning a living in the streaming era — as well as the importance and value of the composition in the commercial music process,” said Bart Herbison, executive director of the Nashville Songwriters Association International (NSAI).
“Steve Bogard, Liz Rose and Lee Miller, all NSAI board members, were moving and informative and played a huge role in the historic increase,” Herbison added. “The process is long and difficult requiring time and preparation. We are thankful to these songwriters and to the NMPA.”
Michael Abels is having a banner month. Eight days after winning the 2023 Pulitzer Prize for Music along with collaborator Rhiannon Giddens for their opera Omar, Abels won the Composers’ Choice award for film score of the year at the 2023 ASCAP Screen Music Awards. The awards were presented at an invitation-only party in West Hollywood, Calif., on Tuesday (May 16).
The Composers’ Choice award winners are chosen by the ASCAP composer and songwriter community. Abels won for his score to Jordan Peele’s film Nope. His score was shortlisted for an Oscar for best original score in December but failed to make the final five.
Abels, 60, has scored all three of Peele’s film to date as a director – Get Out (2017), Us (2019) and Nope (2022), plus other films. He received two Primetime Emmy nods two years ago for his work on the HBO film Allen v. Farrow.
Cristobal Tapia de Veer was a double Composers’ Choice winner for his work on the HBO series The White Lotus. He took television theme of the year and shared the award for television score of the year with Kim Neundorf. de Veer won two Primetime Emmys in September for his work on the show.
Bear McCreary took video game score of the year for God of War Ragnarök.
There was a tie for documentary score of the year. The winners were Amanda Jones for Super/Natural and Jeff Cardoni for Tony Hawk: Until the Wheels Fall Off.
Those five Composers’ Choice awards were part of the full slate of 2023 ASCAP Screen Music Awards, which honored music written for films, TV series and video games.
Simon Franglen won top box office film of the year for his score to the James Cameron blockbuster Avatar: The Way of Water. Franglen’s score was shortlisted for an Oscar for best original score, but like Nope, failed to make the final five.
Among the top streaming films winners, John Debney was honored for his score to Hocus Pocus 2 while Benj Pasek, Justin Paul, Khiyon Hursey, Mark Sonnenblick and Sukari Jones were celebrated for their collaborative work on the hit musical comedy Spirited.
Top streaming series winners include Kyle Dixon and Michael Stein for the Netflix series Stranger Things, Natalie Holt for the live-action Star Wars project Obi-Wan Kenobi and Siddhartha Khosla for Hulu’s hit comedy-drama Only Murders in the Building. Khosla received two Primetime Emmy nods last year for his work on the show.
David Vanacore was named the most-performed themes and underscore winner for his work on shows including Survivor, The Kardashians and The Daily Show. Composers Matthew Hawkins, Maurice “m.0.” Jackson and Neil Martin won top network television series for their main theme for NCIS, while John Sereda received top cable television series for his music in the historical drama When Calls the Heart.
The complete list of winners is available on the ASCAP website.
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After sharing No. 1 with Universal Music Publishing Group (UMPG) for three consecutive quarters, Sony Music Publishing swept Billboard’s Publishers Quarterly report for the first 90 days of 2023 — including the country music category. The Weeknd’s “Die for You” and Miley Cyrus’ “Flowers” were the No. 1 songs on the Top Radio Airplay and Hot 100 publishers rankings, respectively, while SZA took top songwriter honors.
Sony’s 30.26% market share of the 100 Top Radio Airplay songs rose from 28.89% in the fourth quarter of 2022 and marked its eighth consecutive quarter in the No. 1 spot. The number of shares it held in songs on the ranking was also up quarter to quarter, from 64 to 66.
The publisher also finished at No. 1 on the Hot 100 publishers ranking, putting an end to UMPG’s remarkable three-consecutive-quarter streak at No. 1 with over 30% of the market — the first since that ranking was instituted in 2019. Sony returned to first place with a 30.56% share amassed from stakes in 67 songs, a huge gain over its No. 2 showing in the previous quarter, when it posted a 22.71% market share tied to shares in 58 tunes.
Sony also notched its third consecutive quarter as the No. 1 publisher on the Country Airplay list.
UMPG finished No. 2 on the Hot 100 ranking after its market share dropped from 31.63% to 23.45% quarter to quarter and its song count declined from 63 to 52. Compared with the previous year, however, UMPG’s first-quarter performance was up more than three percentage points.
Although the publisher remained firmly in second place on the Top Radio Airplay ranking, its market share fell from 25.66% in the fourth quarter of 2022 to 21.26% in the first quarter. Its share of songs also declined, from 52 to 48.
Warner Chappell Music finished third on both rankings and showed improved performance on each. The publisher scored a 20.71% market share on Top Radio Airplay — up almost five percentage points from the previous quarter’s 15.73% — and 21.73% on the Hot 100 ranking, up from 18.59% in the fourth quarter of 2022. Those gains came from shares in 52 and 47 songs, respectively.
The top songwriter across the board was Solána “SZA” Imani Rowe, who is published by UMPG. She co-wrote eight songs on the Hot 100 ranking and four on Top Radio Airplay. Her top song on both lists was “Kill Bill,” which is No. 2 on the Hot 100 ranking and No. 6 on Top Radio Airplay.
Kobalt held onto its No. 4 spot from the last quarter in both the Top Radio Airplay and Hot 100 rankings.
Despite holding steady, its market share fell from 10.38% in the fourth quarter to 8.72% in the first quarter’s Top Radio Airplay chart, although its share of songs almost doubled, including its top song, “Die For You.” On the Hot 100, Kobalt’s market share improved slightly by 9 basis points to 6.89% from the prior measurement period’s 6.8% and its song count grew to 26, including “Die For You,” from the fourth quarter’s 22 songs.
BMG’s No. 5 placement was due to a slight increase in its Radio Airplay market share, from 3.17% to 3.28% with shares in 11 songs — the same total from the previous quarter. On the flip side, BMG remained in sixth place for the second consecutive quarter on the Hot 100 ranking, even though its market share dropped from 2.38% to 2.13%. It also claimed shares of 8 songs in both quarters, while its top song on both charts for the first quarter was David Guetta and Bebe Rexha’s “I’m Good (Blue),”which was No. 4 on the Top Radio Airplay chart and No. 8 on the Hot 100 chart.
Pulse Music Group returned to the Radio Airplay rankings at No. 6 — after sitting out the fourth quarter. It posted a 1.69% market share from stakes in five songs, including its top track, “Flowers.” Prior to the fourth quarter, Pulse had placed in the Top Radio Airplay rankings for 12 consecutive quarters, beginning in the fourth quarter of 2019. On the Hot 100 publisher rankings, Pulse jumped five spots to No. 10 to No. 5 with a 2.28% share, more than doubling its No. 10 fourth quarter showing, 1.11%. Pulse’s song count doubled, too, from 3 songs in the prior quarter to 6 tunes in the first quarter.
S.I.A.E. Direzione’s Generale repeated its fourth quarter performance, finishing No. 7 on both charts with a 1.65% share, up from the prior quarter’s 1.38% on the Top Radio Airplay chart, and 1.35%, up from the previous quarter’s 1.24% share of the Hot 100 chart, when it was ranked No. 9. Its top song for both charts was also “I’m Good (Blue).”
Rounding out the Top 10 for the Top Radio Airplay rankings, Anthem, absent from the ranking since the second quarter of 2022, returned at No. 8 with a 1.47% share. Concord fell to No. 9 with a 1.41% share, down from the prior quarter’s No. 6 ranking and 2.19% share. And Hipgnosis Songs Group fell to No. 10 from its No.8 fourth-quarter finish, even though its market share improved to 1.40% from the prior period’s 1.29%.
On the Hot 100 ranking, Concord, Reservoir and Anthem all returned to the Top 10 ranking after not making the cut in the fourth quarter. Concord was only absent one quarter; the last time Reservoir made the ranking was the third quarter of 2021, and Anthem’s last time in the top 10 was the first quarter of 2022.
METHODOLOGY
*For the Top 10 Publishers Top Radio Airplay chart, percentage calculations were based upon the overall top 100 detecting songs from 2,941 U.S. radio stations electronically monitored by Mediabase (and provided through Luminate) 24 hours a day, seven days a week during the period of Dec. 30, 2022, to March 30, 2023. For the Top 10 Publishers Hot 100 Songs, percentage calculations were based upon the top 100 songs as ranked by Billboard Hot 100 points calculated from Luminate-compiled digital sales and streaming data and Mediabase-tracked radio airplay detections during the same period as above, reflecting the issue dates of Jan. 14, 2023, through April. 8, 2023. Publisher information for musical works on both charts has been identified by the Harry Fox Agency. A “publisher” is defined as an administrator, copyright owner and/or controlling party.
Is there another $1 billion in global publishing royalties that rights holders can gain by using better technology? That’s what Kobalt CEO Laurent Hubert says.
When Kobalt was bought by Francisco Partners last September, the disruptive innovator known for its publishing administration clients like Karol G, Phoebe Bridgers and Max Martin said that a primary goal of this next chapter would be growing its little known and even less understood global digital rights collections society for compositions, the American Music Rights Association.
In the months since, Kobalt and its new owners have refined their strategy for scaling this “unpolished gem,” as Francisco Partners and Kobalt board director Matt Spetzler calls AMRA. Their first hurdle? Explaining what exactly the global mechanical and performance rights society focused on collecting digital-specific income can accomplish. “Too few people know what AMRA does,” says Hubert.
In an industry where, according to CISAC’s 2021 annual report, over 36% of global music publishing revenue royalties come from digital sources — a figure AMRA says will grow to 80% within five years — Kobalt believes AMRA can better leverage its technology and its direct agreements with digital service providers to streamline digital royalty collection across 212 countries, cutting out the friction or delays of a traditional performing rights organization (PRO). Their biggest licensees include some of the largest DSPs, like Spotify and Apple Music, but they are also working with promising new brands like China-based TikTok rival Kuaishou and others.
AMRA says it is a one-of-a-kind service, providing clients faster turnarounds for royalty collection (in six to nine months), more precise accounting for digital royalties and audit rights, and greater transparency that its executives say make AMRA clients and the wider industry a lot more money.
How much? AMRA CEO Tomas Ericsson estimates that clients can gain “as much as 30%” more royalties in certain regions. Hubert contends that if his companies can reduce the percentage of money that leaks from the $8 billion to $9 billion of royalties collected by the global music industry on the publishing side, excluding writer’s share — “leakage” that stems from high intermediary costs, poor matching, undercollection and underlicensing — AMRA and other players in the industry could grow the pie by another $1 billion for collection and distribution. AMRA could be a tool to help accomplish that, Hubert says.
Ericsson explains that AMRA can go to streaming services and “offer the entire catalog for Kobalt music publishing and an additional three publishers and an additional 180 writers to these streaming services, and we can give them those rights globally under one license. [The streaming services] report to us directly, and they pay us directly.
“In doing so, we can avoid a lot of noise, high fees, inefficiencies, poor technology and local issues,” Ericsson says.
Since its acquisition by Kobalt in 2015, AMRA has distributed almost $500 million in digital royalties on behalf of songwriters and rights holders. Managed as a separate entity under the Kobalt umbrella, AMRA generated $117.3 million in revenue in the fiscal year ending June 30, 2022, and the company currently expects AMRA will generate $150 million in revenue during this fiscal year. Hubert declines to provide specific financial targets but says he expects double-digit revenue growth this year from AMRA, and that its growth rate will substantially exceed Kobalt’s.
Apart from its DSP licensees, AMRA works with songwriters such as Julia Michaels, Lindsey Buckingham, Sam Hollander and independent publishers like Sundae Music Publishing, Anthem and Spirit. It’s also partnering with functional or mood-music companies, such as Strange Fruits, Vanity Snare Music, Lullify Music and Acrylic Records, whose music is popular on passive-listening playlists. Kobalt remains AMRA’s largest licensee, Ericsson says.
Kobalt, AMRA and its new owners are aligned on their aim to massively scale AMRA. Those owners are Francisco Partners, a California-based private equity firm that favors tech-forward music companies; MUSIC, the firm of music industry veteran and investor Matt Pincus; and Dundee Partners, the quietly influential family office of Stephen and Sam Hendel whose investments range from The Knitting Factory to the Fela! musical to music investing platform JKBX. Kobalt founder and chairman Willard Ahdritz and Hubert also have equity stakes in the company and have signed long-term contracts to remain in their roles.
Through interviews with all those stakeholders, AMRA’s emerging growth strategy has three prongs. The first is to expand its list of publishing clients, looking for small, medium and large indie publishers.
At a faster and larger clip, AMRA also aims to exploit opportunities with other niche music genres in the Latin and African markets in a bid to replicate the success it had partnering with mood-music companies. It also aims to take on more clients on the “long-tail end of the business” — songwriters who may not be published or affiliated but have steady streaming income.
This last prong of the strategy reflects the influence of Francisco Partners. In the past two years or so, the firm has invested $2 billion in six music companies, five of which are geared toward music creators, ranging from audio production and DJ’ing software and hardware to a plugin platform with marketing, distribution and authorization services. Managed under the umbrella of SoundWide, Francisco Partners says these companies have a combined 7 million users.
“We have seen the marketplace has shifted and grown around the creator community,” Hubert says. “We have the capabilities from a scaling and tech stack perspective to go after that market.”
AMRA faces hurdles if it’s to maintain formidable growth. Tracking digital royalties is challenging, given metadata errors and fast-growing use cases. The association is also held back when it comes to nondigital royalties, where existing laws and collection societies prevent it from operating as swiftly or accurately as it can with digital revenue. Songwriters in particular are the most restricted: They can use AMRA to collect their digital performance and mechanical royalties, as well as offline royalties, but the offline royalties still pass through a traditional PRO before reaching AMRA, meaning the writer will be charged two fees: one from the traditional organization, then a “significantly lower” fee from AMRA. Also, although AMRA collects in 212 countries, two of the world’s most royalty-rich nations, China and the United States, are not part of their offering due to local laws.
Still, AMRA will bring all of its promised efficiencies to the digital side, which is what the company anticipates will far outweigh offline royalties soon. The company believes it to be uniquely positioned to collect those royalties. As it likes to say: “AMRA is a category of one.”
Artist Publishing Group has entered into a partnership with Makasound Records, Billboard has learned exclusively. APG CEO Mike Caren and Makasound co-founders Chrishan “Prince Chrishan” Dotson and Christian “Hitmaka” Ward are also announcing two new signees under the partnership: Grammy-nominated producer Rob Holladay (Nicki Minaj, Lil Wayne, Megan Thee Stallion) and Aye YB (French Montana, 2 Chainz, Big Sean).
“Hitmaka and Chrishan maintain a rare balance between talent, entrepreneurism, vision and work ethic,” said Caren in the press announcement. “They will continue to win as top creatives and mentors who can both coach and play. We’re excited to partner on their growing list of endeavors.”
The new partnership follows several years of collaboration between APG and Makasound’s co-founders. The relationship has yielded hits such as “Dangerous” by Meek Mill featuring Jeremih and PnB Rock, “Look Back At It” by A Boogie wit da Hoodie, “No Stylist” by French Montana featuring Drake and “Rule the World” by 2 Chainz featuring Ariana Grande.
“Mike gave me my first publishing deal as a writer and producer,” Hitmaka tells Billboard. “He really believed in me and took me under his wing, which has allowed me to open a bunch of different doors. Mike has since deepened the business relationship with me and Chrishan at Makasound. So this new partnership just made sense because he believes a million percent in what we’re doing. He’s like, ‘You are the guys. Let me get out of your way and support you in keeping the momentum you have going.’ It’s a seamless transition to a partnership I’m super excited about with Mike and Chrishan.”
Adds Dotson, “We’ve built Makasound from the ground up, focusing on the records first: what it takes to make a great song, a great piece of work. We take a boutique approach to artists and repertoire, a department in which a lot of the majors are lacking. Many times, these executives are experienced on the technical side, but not when it comes to record creation, understanding how to stay creative, stay motivated and stay hungry. We want to help guide the next generation of producers, songwriters and artists through what we’ve learned when we were at that point in our careers.”
Dotson and Hitmaka established Makasound Records in 2016. During that time, the pair has written and produced hits for platinum-selling artists such as Drake, French Montana, Chris Brown, Ty Dolla $ign, Meek Mill and Gucci Mane.
Artist Publishing Group, a division of Artist Partner Group, was founded in 2004. It has scored its by writers such as 24k Goldn, Taz Taylor, Don Toliver, Ava Max, Charlie Puth and YoungBoy Never Broke Again.
Universal Music Publishing Group has signed Yahritza to a global publishing deal. As part of Yahritza Y Su Esencia, a sibling trio which has helped ushed Regional Mexican into the mainstream, she is one of Mexico’s most sought after stars.
Blackx, a new Asia-focused music fund, has acquired a catalog 230 songs from Frances Wang, a notable Taiwanese songwriter. Songs included in the deal span 30 years of work, including hits performed by Faye Wong, A-Mei, Jeff Zhang Xin Zhe, Oaeen, Eason Chan, Wan Fang and Tiger Huang Xiao Hu. This is one of Blackx’s first purchases in Asia. The fund launched in September 2022 with an initial $100 million in financing.
UMPG Germany has signed Berlin-based artist and songwriter Chris James to a worldwide publishing deal. As co-writer on “Komet” (Apache 207 and Udo Lindenberg), his work holds the honor of being the longest running #1 German-language song in 16 years, according to a press release. Most recently, he was listed as a co-writer on Jimin’s recent K-pop smash “Like Crazy” which debuted at No. 1 on the Hot 100.
Universal Music Publishing UK has signed LF System, a chart-topping producer duo, to a global publishing deal. Comprised of Conor Larkman and Sean Finnigan, the duo is a top name in international dance music. Their song “Afraid to Feel” recently topped the UK Singles Chart for eight consecutive weeks.
Sony Music Publishing has signed 1da Banton, a Nigerian songwriter, artist and guitarist, to a global publishing agreement. He recently gained international acclaim with his song “Miss You” with Tungevaag, and his next EP is set to release next month, featuring 255, Rugged and Pimp.
Warner Chappell Music has signed a worldwide publishing deal with Spanish singer-songwriter Ana Mena. With nearly six million monthly listeners on Spotify, Mena’s “Música Ligera” won song of the year at Los40 Music Awards 2022. Most recently, she released her second studio LP Bellodrama, which follows her 2018 debut album Index.
Warner Chappell Music has signed Nia Archives to a worldwide publishing agreement. A DJ, producer and singer-songwriter, she won Best Electric/Dance Act at the MOBOs, Best Producer at the NME Awards, named Introducing Artist of the Year by BBC, and was shortlisted for the Rising Star Award at the BRITs 2023.
Universal Music Publishing Classics and Screen has signed Pulitzer Prize winner Kevin Puts and rising Puerto Rican composer Angélica Negrón to exclusive worldwide publishing deals. As part of the agreements, Universal’s Classics & Screen division also acquired Puts’ compositional catalog.
Angry Mob Music Group has signed UK-based Richard Walters to a worldwide co-publishing agreement. Currently signed to Nettwek Music Group on the label side, Walters next single is out May 26th. As a songwriter, he has worked alongside Joe Henry, Alison Moyet, Solomun, 3LAU, Sony Fodera, Sultan + Shepard, and more.
Warner Chappell Music has joined with Matchless Publishing and Artist Development to sign a global publishing deal with Nashville-based singer, songwriter and producer Dan Pellarin. Pellarin has co-written with acts like Filmore, Atlus, and Savage Hands.
Warner Chappell Music and Cornman Music have teamed up to jointly sign Graham Barham to a global publishing deal. A Nashville-based newcomer, he first gained attention with his popular track “Preachers Need People.”
Creative Nation, an independent music company, has signed Nashville-based songwriter and producer Oscar Charles to a publishing deal. He has written songs with Chase Rice, Elvie Shane, Boy Named Banjo, Madeline Edwards, Hannah Dasher and more. He has released songs with Carly Pearce, Charlie Worsham and Jacob Powell, among others.
Doja Cat was named BMI’s pop songwriter of the year at the 2023 BMI Pop Awards, held on Tuesday (May 9) at the Beverly Wilshire Hotel in Beverly Hills, Calif. The smash “Stay,” recorded by The Kid LAROI and Justin Bieber, was named BMI’s pop song of the year. Sony Music Publishing received publisher of the year.
As previously announced, Khalid received the BMI Champion Award, celebrating his musical contributions and philanthropic efforts.
The private event was hosted by BMI president and CEO Mike O’Neill and vice president worldwide creative Barbara Cane.
Doja Cat had six of the most-performed songs of 2022 – “Get Into It (Yuh)” (co-written with SULLY and Y2K), “I Like You (A Happier Song)” (co-written with Jasper Harris), “Need to Know,” “Vegas” (co-written with Rogét Chahayed and Yeti Beats), “Woman” (co-written with Aaron Horn (PRS), Linden Jay (PRS), Jidenna and Yeti Beats) and “You Right.” The writer/performer had received BMI’s R&B/hip-hop song of the year for co-writing “Say So” in 2021.
Throughout the ceremony, the 50 most-performed pop songs of the previous year in the U.S. were revealed, leading up to BMI’s pop song of the year, which went to “Stay” written by Cashmere Cat, Isaac “Zac” De Boni, Omer Fedi, Haan, The Kid LAROI (APRA), Michael “Finatik” Mulé, Charlie Puth and Blake Slatkin. The mega-hit was the first song to spend its first 40 weeks in the top 10 of the Billboard Hot 100 chart was the most-streamed song globally on Apple Music in 2022.
Sony Music Publishing received publisher of the year for representing 24 of the previous year’s most performed songs, including “Bad Habit,” “Numb,” “Running Up That Hill” and “Shivers.”
BMI also welcomed 53 first-time Pop Award winners including GAYLE and Sara Davis (“abcdefu”), Steve Lacy, Diana Gordon, and Matthew Castellanos (“Bad Habit”), Tyler Cole (“Meet Me at Our Spot”) and dazy and Nicky Youre (“Sunroof”).
Khalid was presented with the BMI Champion Award by O’Neill, who praised his musical contributions and work to benefit the lives of young people. After receiving the award, Khalid treated the audience to an acoustic performance of some of his biggest hits including, “Location,” “Better,” and “Talk.”
Khalid has amassed 18 BMI awards. In 2020, he was honored as BMI’s pop songwriter of the year and his hit “Talk” was named BMI’s R&B/hip-hop song of the year. In addition to his career in music, Khalid is a humanitarian. Alongside his mother, Linda Wolfe, he created The Great Khalid Foundation in 2020, offering music education programs, scholarship awards and community partnerships to support and nurture children.
Previous BMI Champion Award recipients include Mark Ronson, Residente, Sebastian Krys, Keith Urban and Lee Thomas Miller. For a full list of the 2023 honorees click here.
Reach Music has acquired master and publishing rights to Judas Priest‘s first two records, Rocka Rolla and Sad Wings of Destiny from Gull Entertainments. As part of their new purchase, Reach will work alongside the British metal legends to release a 50th anniversary edition of Rocka Rolla in 2024 as well as other special projects. This deal builds upon Reach’s existing relationship with the band — in 2021, Reach acquired a 50% copyright interest and the administration rights to guitarist Glenn Tipton’s song catalog, beginning with songs released in 1977.
Reservoir has launched a joint venture with American Idol producer, 19 Entertainment, which is part of Sony Pictures Television and already partnered with BMG on the master side. Through their new jv, the two will jointly sign new publishing deals with some of Idol’s contestants, and Reservoir will aid in the young writers’ development.
Peermusic Australia has inked a worldwide publishing deal with Sydney-based hip-hop/rock crossover group Triple One. The agreement includes both Triple One’s full back catalog as well as future works.
Position Music has signed artist and songwriter Sam Tinnesz to a worldwide publishing deal. The deal includes some selected catalog cuts as well as all of Tinnesz future releases, including those made under his artist project and those made as a songwriter.
Prescription Songs has signed Nashville-based artist and writer Josie Dunne. As an artist she played alongside artists like Julia Michaels, COIN, Ben Rector, and Andy Grammer. As a writer, she’s create songs with Natalie Imbruglia, Corook, Spencer Sutherland, and more. She was brought into the roster by A&R Chris Martingnago.
Warner Chappell Music has signed a global publishing deal with country sibling trio Voth. The deal was signed just ahead of their next single “You Own It,” out April 28th.
Annual revenue for Round Hill Music Royalty Fund grew 32% to $32.4 million in 2022, driven by strong performances of the Guernsey-based company’s rights management and synchronization business, coupled with underlying growth in the global recorded music industry, according to year-end financial results published Tuesday (Apr. 25).
Income from music publishing rights grew 12% year-on-year to $17 million, a rise of 12% on 2021, accounting for 69% of Round Hill’s annual revenue. Master rights revenues, derived from music streaming, CD and vinyl sales and downloads, grew by 70% to $10.9 million.
The fair market value of Round Hill’s portfolio — which includes the rights to over 120,000 songs across 51 catalogs, including tracks by Celine Dion, Bush, The Offspring, Carrie Underwood, The Supremes, Wilson Pickett and Whitesnake — was up 13% year-on-year to $602.6 million.
Economic net asset value also increased 13% to $519.6 million. The valuations are based on a report by the company’s independent valuer, Citrin Cooperman, and a second independent valuation by FTI Consulting, says Round Hill.
Almost half (44%) of the company’s publishing revenue came from performance rights royalties generated by music being played on radio and television, live concerts or in public spaces such as shops, bars and restaurants, Round Hill said.
Breaking down the company’s publishing revenue, more than a quarter (27%) was generated by synch deals, including the placement of “All by Myself,” by singer-songwriter Eric Carmen, in advertisements for Adobe Photoshop; Spacehog‘s “In the Meantime” featuring in the trailer for Marvel Studios’ Guardians of the Galaxy Volume 3; and Alice In Chains‘ “Rooster” being spotlighted in the Netflix series Super Pumped.
Speaking of Alice in Chains, Round Hill — which is listed on the main market of the London Stock Exchange — acquired a majority share of the band’s publishing catalog, neighboring rights and master recording rights from remaining living members Jerry Cantrell, Sean Kinney, Mike Inez and William Duvall in February. The estates of the late singer Layne Staley and late bassist Mike Starr sold their rights and income streams to Primary Wave at the same time.
The start of last year also saw Round Hill acquire master and publishing rights to the catalog of David Coverdale, the Whitesnake frontman and former lead singer of Deep Purple. In its financial results, Round Hill says the two acquisitions marked “the full deployment” of the $85 million the company raised through a share placement in July 2021.
In total, Round Hill said it successfully placed 560 songs across a range of high-profile films, television series and brand campaigns last year, fueling 33% year-on-year growth in synch revenues.
New two-year license agreements with TikTok and Meta on more favorable terms in 2022 also contributed to the strong financial results, generating higher digital revenues in the second half of last year, the company said.
Josh Gruss, CEO of Round Hill Music, tells Billboard the company’s strong financial results are attributable to its “very in-demand repertoire” and an experienced team of 70 employees in the U.S. and Europe, including London, Los Angeles, New York and Nashville, “sweating that repertoire really hard.”
Going forward, he says, the focus is on narrowing the gap between Round Hill’s economic net asset value of $519.6 million and its current stock price, which was trading at between $0.64 and $0.66 on Tuesday. In terms of new catalog acquisitions, Gruss says Round Hill will have to raise more equity before it can make “meaningful” additions to its portfolio and adds that the company will remain focused on songs recorded and released in the early 2010s and before.
“We like to be really conservative in how we approach acquisitions and the problem we have with younger music is that it’s just really hard to forecast how those songs pan out over the next 10 years,” says Gruss. “Good music is timeless and it’s really important that we have timeless music. We don’t want to have the flavor of the [month] — a song that’s going to be popular today, but gone tomorrow. You can make a big mistake in those type of investments.”
PRS for Music, the U.K. collecting society that represents composers and publishers, announced Monday (April 24) that it collected a record-high 964 million pounds ($1.20 billion) in 2022, a 22.9% increase over the previous year and an 18.9% increase over the previous high of 964 million pounds reached in 2019. The organization also distributed a record 836.2 million pounds ($1.04 billion) in 2022, an increase of 23.5% over 2021, while reducing its cost ratio to 9.3%.
“Live revenue came back,” says PRS for Music CEO Andrea Czapary Martin — up 683% from 2021 as the concert business rallied after the worst of the pandemic, and 16.1% compared to 2019. “At the same time, we saw a huge increase in music streaming — 25% — that exceeds market growth.”
PRS for Music is not the only collecting society that’s doing well as live music returns and streaming continues to thrive: In early March, ASCAP announced a 14% increase in collections to $1.52 billion and three weeks ago the German rights body GEMA posted 13% growth to 1.178 billion pounds ($1.25 billion).
Even by those standards, PRS’ results are impressive, although currency fluctuations and differences in accounting make exact comparisons between international collecting societies difficult. And it is rare to see a cost ratio below 10% for a society that collects for publishers and songwriters. PRS says it hit its goal to get its cost ratio below 10% four years ahead of its five-year plan.
“I run this like a commercial company, except we’re owned by the members and profits are distributed to our members,” says Martin, who joined PRS in mid-2019. Martin, a newcomer to the music business, worked for a variety of data- and subscription-focused businesses, including Reader’s Digest Association and the U.K. Royal Mail. “My background,” she says, “is in tech and data.”
Other highlights of 2022 include new and renewed licenses — “better agreements and new agreements,” Martin says. Revenue from video-on-demand services rose 16.5%, while that of linear television declined 2.4% and commercial radio, driven by advertising, grew 2.6%. “A TikTok agreement paid out last year,” Martin says, “and we doubled video game royalties.”
ICE, the Berlin-based music licensing hub that PRS owns as a joint venture with GEMA and Sweden’s STIM, is also “helping PRS immensely,” Martin says. “ICE is the biggest growth opportunity for PRS.” Expansion elsewhere is also a priority, Martin says, including in Africa.
PRS, like most of its sister societies, has a monopoly over U.K. collections — at concert venues, bars and restaurants, for example. Starting a few years ago, though, it also competes to represent composers and publishers online, to streaming services. ICE gives PRS the reach and resources to compete with SACEM. And PRS’ push toward efficiency gives it a solid competitive position.
“I’m very optimistic for the future,” Martin says. “But that doesn’t mean there aren’t challenges.”