No surprises there, music is a data-based industry, and this week shows it! Although we’re not even close to an outcome for Suno VS Majors, we have a lot of data to understand our industry. Let’s dive in:
#1. No development in sight for Majors’ lawsuit against Udio and Suno
The legal battle between major music labels and generative AI companies, Udio and Suno, over copyright infringement isn't expected to see a trial until at least 2026. The core issue is whether Udio's use of copyrighted materials for AI training falls under "fair use."
The labels are pushing for an expedited trial timeline, with key deadlines set for early 2025, while Udio advocates for a slower process, extending into late 2025. Clearly, we’re not passed the challenges the legal system faces in keeping pace with the rapid evolution of AI technology, with significant implications for future copyright law.
#2. Music in your old TV shows sound weird? There’s a reason
Over the years, music used in TV shows has undergone major changes due to the rise of streaming platforms. Unlike traditional TV, where music rights were often secured with broad, long-term deals, streaming services operate under more restrictive licensing agreements.
As a result, many classic TV shows lose their original soundtracks when added to streaming libraries, altering the viewing experience. This shift has also impacted new productions, with cost-effective and safer music choices replacing riskier, more creative selections. The change reflects broader issues in the industry, including declining royalties for composers and a diminishing focus on innovative soundtrack curation.
#3. The future looks good for music publishing
The latest MIDiA music publishing forecast report reveals a strong growth trajectory for the industry, with global revenues rising 12% in 2023 to $10.1 billion, outpacing record label growth. Key factors include improved streaming royalty rates, a surge in post-Covid live revenues, and favorable deals with non-DSP platforms like TikTok and Meta.
The report predicts continued growth, with total music publishing revenues expected to reach $16.8 billion by 2031, driven largely by streaming. However, challenges such as declining public performance royalties and market saturation in live music could temper growth.
#4. TikTok’s Summer hits have been revealed
TikTok has revealed its Top 10 Global Songs of the Summer 2024, with 60% of the tracks being independently distributed. Leading the list is "Gata Only" by Chilean artists FloyyMenor and Cris MJ, distributed by UnitedMasters, which became a viral sensation with 15 million creations on the platform. Other notable tracks include Tinashe's "Nasty" and Tommy Richman's "MILLION DOLLAR BABY," both of which also performed well on global charts. Without a doubt, there’s a growing influence of indie artists on TikTok and the platform's role in shaping global music trends is still very relevant.
#5. Radio is far from being outdated
On Nation Radio Day (August 20, 2024), Nielsen released data highlighting the ongoing relevance of AM/FM radio in the U.S. music industry. Despite the rise of digital streaming, broadcast radio remains dominant, accounting for 67% of daily time spent listening to ad-supported audio.
Americans spend nearly 20% of their day with audio, with radio still playing a significant role, particularly among certain demographics and genres. This data underscores radio's continued influence in the evolving audio landscape.
