Music Industry News – Spotify's Noteable / TikTok and UMG's deal / Music Biz generates 50 cents

Spotify is set to launch a new site called Noteable, dedicated for writers and composers to receive news updates on relevant products and services as well as chances to connect. The company created a songwriters hub last December on its service and provided publishing analytics and songwriter profile pages to its Instagram video series over the last couple of years.

After striking deals with Sony Music in November and Warner Music Group in December, video app TikTok announced a global licensing deal with Universal Music Group (UMG) this week. As a result, TikTok users will now be able to incorporate clips from UMG’s full catalog of music. The news immediately follows Universal pulling its catalog from TikTok’s biggest rival, Triller.

According to a new economic impact report released this week by the RIAA, the US music industry’s total impact on the country’s economy grew to $170 billion in 2018, generating an additional 50 cents of revenue on every dollar earned for adjacent industries such as tourism, hospitality and marketing. It “charts a course for state and federal policymakers to leverage music’s ability to produce strong economic growth and high-paying domestic jobs,” said Josh Friedlander, senior vp research and economics at the RIAA.

“Ways And Means” – Rev Peyton’s Big Damn Band: www.youtube.com/watch?v=Tw1g_2NPjoI

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You can view the original video HERE.