I read a very important piece of news yesterday in Billboard. SoundExchange, the company designated to collect streaming royalties from internet sites, has reached an agreement with internet radio broadcasters that paves the way for them to actually begin receiving monies and distributing them.
In 2007, the Copyright Royalty Tribunal decided that the per-stream rates be set at $.0011 for 2007, $.0014 for 2008, $.0018 for 2009 and $.0019 for 2010. The agreement lowers the rates significantly (nearly 50%) and is retroactive back to 2006.
If companies are making enough money (more than 1.25 million/year) they can pay a flat rate of 25% of their gross revenues, with a $25,000 minimum payment.
Found this great link today. 10 “New Music Industry” PDFs That’ll Make You An Expert.
Music Industry Survival Guide
Mastering The Music Website Cycle
The Leading Question (insightful music lovers’ survey)
How To Call Attention To Your Music
How To Sell A Book (Or Any New Idea)
Start A Video Strategy
How To Increase Your Fanbase
100 Social Media Resources For Musicians
The 20 Things You Must Know About Music Online
I think these are so important that I’ve gathered them all for you here in one zip file.
Please take the time to download and begin reading them. I’m sure you’ll find that your understanding of how to find a wider audience will increase if you do.
Gerd Leonhard posted a very quick (18 minutes) but thorough overview of his vision of the future for media today. The two videos are here . (If you’re viewing this post after 7/2/09 search his site for “Music 2.0 – the future of the music business – in 18 minutes.”
If it seems confusing and hard to understand, remember that the phrases and concepts he’s using are in most cases terms coined by himself, and may at first sound like someone who’s gone to church too long and is “preaching to the choir.” Whether or not you agree with his view, you must consider the current of events around us right now that he describes and pay attention.
The two biggest cornerstones of change are:
The flat rate for music, to be paid by ISPs and telecoms
The mobile/cell phone industry replacing the personal computer as our primary means of obtaining the digital necessities of life – music, shopping, news, correspondence, etc.
It’s definitely worth a look.