In The Know: Weekly Music News Summary April 13, 2018

SoStereo's music news and advertising round-up with happenings from Spotify, the U.S. congress, Apple Music & more.
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Spotify Acquires Mechanical Licensing Tech Platform Loudr:

Spotify and all of the music streaming services have had issues with tagging and getting licensing correct on the music uploaded to their services. Their have been high-profile cases with Spotify, which has dealt with and is currently dealing with some costly lawsuits as a result. Now it may be trying to fix that with the acquisition of mechanical licensing tech platform Loudr.

Loudr creates products and services that "help content creators, aggregators, and music services identify rights holders, secure mechanical licenses, and pay royalties to music publishers” according to Music Business Worldwide. This could be helpful to avoid further lawsuits, but in the end it is how you use the product, not just the products you have.

Music Discovery Site Purevolume Shutting Down:

The music discovery website Purevolume is “sunsetting” now and will shut down for good on April 30. "We regret [sic] to inform you that is shutting down," reads the notice on its website. "If you were storing music here, you will have until April 30th, 2018 to download it. Thanks for all your support."

Purevolume was founded in 2003 and was used as a place to discover new rock bands. It was popular with label A&Rs for a time, but in the past few years it had been passed around in various media deals and struggled to find its footing

Apple Music Hits 40 Million Subscribers:

Just as Spotify has been stealing headlines with its listing and Amazon steadily climbing in its third place slot, Apple Music continues to grow. It now has 40 million paying subscribers according to Billboard.

House Judiciary Committee Approves Music Modernization Act:

The House Judiciary Committee has unanimously approved the Music Modernization Act in a rare bi-partisan move by the U.S. congress. The bill combines four different legislative initiatives that would update the ways that songwriters and are paid and set the music rates in the marketplace. The bill now awaits the a vote from the full House of Representatives.

One of the measures closes the pre-1972 loophole that has been used by SiriusXM and others to not pay royalties on music from before 1972. Another key provision is to establish the equivalent of SoundExchange for songwriters to track credits and distribute royalties for their work according to Variety

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