From YouTube’s 80m Music and Premium subs to Meta’s 11,000 layoffs… it’s MBW’s Weekly Spherical-Up


Welcome to Music Business Worldwide’s weekly round-up – the place we be sure you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and scale back their touring prices.


YouTube revealed this week that it’s added 30 million paid YouTube Music and Premium subscribers up to now 13 months.

The platform’s subscriber tally, which now stands at over 80 million paying subs (together with triallists), implies that it has added round 2.3 million subscribers each month since September 2021.

That 80m+ subs tally was the second large stat to be reported by YouTube within the house of simply two months. In September, the platform announced that it had paid music rightsholders over $6 billion within the 12 months to finish of June 2022 – a $2 billion enhance from the $4 billion contribution to music rightsholders that YouTube mentioned it paid out within the prior-year interval (the 12 months to finish of June 2021).

Writing in a weblog submit this week, YouTube’s International Head of Music Lyor Cohen pinned YouTube’s development on its so-called ‘”twin engine of income – subscriptions and adverts,” which he added “is the actual deal”.

He additionally reiterated the platform’s ambition of turning into the primary contributor of income to the music business.

Elsewhere this week, Facebook guardian firm Meta introduced that it’s making 11,000 layoffs.

Founder and CEO Mark Zuckerberg defined that in an effort “to grow to be extra capital environment friendly”, the agency has diverted its assets to “a smaller variety of excessive precedence development areas” together with Meta’s AI discovery engine, its adverts and enterprise platforms, and what Zuckerberg says is the corporate’s “long-term imaginative and prescient for the metaverse”.

Additionally, the three main music firms are reportedly within the strategy of negotiating new offers with video-sharing platform TikTok, they usually’re pushing for a share of promoting revenues on the platform, in keeping with a Bloomberg report.

In the meantime, Twitter’s new proprietor Elon Musk, in an interview on the Baron Funding Convention on Friday (November 4), mentioned that he’s contemplating introducing long-form movies on Twitter and permitting creators to monetize their content material.

Plus, we introduced all of the winners from The A&R Awards, MBW’s UK-focused annual awards ceremony in affiliation with Abbey Street Studios, which passed off Tuesday night (November 8) in central London.

Right here’s what occurred this week…


1) YOUTUBE MUSIC AND PREMIUM SURPASS 80M PAID SUBSCRIBERS

YouTube has surpassed the milestone of 80 million paid YouTube Music and Premium subscribers worldwide.

(YouTube Music is on the market as a standalone subscription platform, or bundled right into a YouTube Premium subscription.)

That subscriber determine, which YouTube says consists of triallists, marks a 30 million (or 60%), enhance on the final subscriber determine to be publicly introduced for YouTube Music, which was 50 million, simply 13 months in the past…


2) LABELS ASK TIKTOK FOR SHARE OF AD REVENUE IN NEW DEAL TALKS (REPORT)

Final month, MBW famous that the music business might be headed for a tussle with TikTok over royalties.

We additionally requested if TikTok ought to observe Meta and decide to paying a set proportion of its promoting revenues to music business rightsholders.

In accordance with a brand new Bloomberg report, the three majors, Warner Music Group, Sony Music Entertainment and Universal Music Group, are at the moment negotiating new offers with TikTok, they usually’re asking for a share of promoting revenues generated on the platform.


3) ELON MUSK SAYS TWITTER WILL SOON ‘SHARE REVENUE WITH CONTENT CREATORS’. WILL THAT INCLUDE MUSIC?

Vital change is afoot at social media big Twitter.

Inside every week of closing his $44 billion acquisition of the corporate, Elon Musk has began implementing a significant overhaul on the platform.

Musk, on October 27, accomplished his go-private takeover of Twitter. He then proceeded to make sweeping adjustments on the firm together with widespread layoffs and the official announcement of a brand new subscription service known as Twitter Blue, which is able to value $7.99 month-to-month, for a verification checkmark and different options.

Taking a look at Twitter’s upcoming adjustments via a music business lens, one of the attention-grabbing updates of all is the information that Musk plans to supply monetization to “content material creators” through a brand new (as-of-yet unspecified) revenue-sharing mannequin…


4) MARK ZUCKERBERG MAKES 11,000 LAYOFFS AT META

Fb guardian firm Meta is chopping round 13% of its world workforce.

The discount in workers, which totals 11,000 layoffs, was introduced by founder and CEO Mark Zuckerberg in a letter printed on Wednesday (November 9). He added that the tech big shall be “chopping discretionary spending and lengthening our hiring freeze via Q1”.

Writing to staff, Zuckerberg known as the motion “a few of the most tough adjustments we’ve made in Meta’s historical past”.

Mentioned Zuckerberg: ” “I wish to take accountability for these choices and for a way we obtained right here. I do know that is robust for everybody, and I’m particularly sorry to these impacted….”


5) THE A&R AWARDS 2022: ALL THE WINNERS

Nicely, that was a bit particular.

The A&R Awards, MBW’s UK-focused annual awards ceremony in affiliation with Abbey Street Studios, passed off Tuesday night (November 8) in central London.

As we introduced earlier this week, the A&R Icon Award – recognizing a profession’s work that has without end modified the face of the music enterprise – was collected by legendary Island Records founder, Chris Blackwell.

Blackwell, 85, was launched on stage by YouTube’s International Head of Music, Lyor Cohen. A heartfelt and reverential video message to Blackwell from Sir Lucian Grainge, Chairman & CEO of Common Music Group, was performed to a hushed room.

You’ll be able to see a full checklist of winners from Tuesday evening’s awards via right here…


MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.

Music Enterprise Worldwide

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