Business Wire

Audible Magic Sponsors MIDiA Research Report on The Rising Power of User-Generated Content

Share

User-generated content will contribute a significant proportion of the growth in music consumption over the next two years in an opportunity that is worth circa $6 billion to the music industry value chain. Rights holders could see $3.2 billion of this in the next two years, as a new report by MIDiA Research in partnership with Audible Magic, has found—with UGC already having contributed over one billion dollars to global music revenues in 2019.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201026005198/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Music-related UGC is a fast-growing and under-commercialised sector with huge future potential. Potential UGC music-related revenues, 2018 – 2022, global (Graphic: Business Wire)

The Rising Power of UGC’ report, which is available to download for free here, examines the dramatic and continuing growth of UGC creation and consumption and highlights that this ongoing expansion requires the implementation of new, simpler licensing frameworks, especially for music.

This report also considers some of the implications of the 2019 EU Copyright Directive, which acknowledges the importance of UGC in today’s economy and presents unique opportunities to encourage the growth of the digital streaming market.

The rising power of UGC is reflected by the sharp growth in social media platforms in 2020, totalling 7.7 billion gross users. Lil Nas X’s Old Town Road, as one example, set a new course for music industry marketers by becoming the first clear example of the ‘song as a hashtag’ – turning a song from a TikTok meme into a global smash hit. More than two billion streams later, almost every marketer in the industry is hoping to repeat the song’s success – though not necessarily with a clear blueprint as to how to do that.

Social media and UGC platforms do not respond to traditional licensing structures and as a result, opportunities are being missed. Framing these trends within the poor performance of ad-funded models, the slowing down of subscription revenues and the absence so far of alternative ways to monetise fandom, the report advocates new ways for the industry to approach UGC to become a win-win for technology platforms and content providers. Social media platform advertising revenue, meanwhile, totalled $119 billion in 2019 – a huge addressable market, while in-app purchases and virtual merch are emerging forms of monetisation.

Content owners might well ask “what’s next?” But what's next is already here: social media is the new music consumption; it just isn’t being fully monetised or utilised.

Commenting on the implications of these shifts for content companies, a major label executive said: “It is important for music content owners to start imagining UGC as another format or channel for the delivery of music rather than simply as promotion or audience development.”

Mark Mulligan, MIDiA Research’s managing director said: “As music subscriptions edge towards maturity in many Western markets, the music industry needs new growth drivers. UGC has long been under-monetised for music rights holders but its potential now is bigger than ever.

“We are entering into an era where we are all becoming creators, whether that be editing digital photos, making a lip sync video or even creating a mashup. We are leaning forward and interacting with our content more and more, with more tools at our disposal. Music continues to be the soundtrack to both our lives and to UGC content. We sit on the cusp of the next chapter in music consumption and monetisation.”

Download the report for free.

About Audible Magic

For more than 20 years, Audible Magic has innovated solutions to identify content, manage rights, and monetize media. Audible Magic’s Emmy-winning automatic content recognition (ACR) technology powers billions of transactions monthly. The Silicon Valley pioneer is the trusted intermediary among rightsholders (including labels, studios, distributors, publishers, and collectives) and major platforms. For more details visit our website: www.audiblemagic.com

About MIDiA Research

MIDiA Research is a market intelligence and consulting firm with longstanding expertise in the business of entertainment and digital media. We help businesses formulate commercially actionable strategy to navigate the evolving digital landscape. Our clients leverage our expertise, proprietary multi-country consumer data and market forecasts to enable smarter and faster decisions. We work with record labels, TV networks, streaming services, tech firms, financial organisations, gaming and sports companies, providing unparalleled insights into trends and innovations shaping the entertainment market and audience behaviours. For more details visit our website: www.midiaresearch.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Julia Hutchinson
Audible Magic
j_hutchinson@audiblemagic.com

Dara Jegede
MIDiA Research
press@midiaresearch.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Potential sale of HSBC SFH (France): Signing of a Memorandum of Understanding18.6.2021 15:30:00 CEST | Press release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION HSBC Continental Europe (‘HBCE’) has today signed a Memorandum of Understanding (‘MOU’) with Promontoria MMB SAS (‘My Money Group’), its subsidiary Banque des Caraïbes SA (the ‘Purchaser’) and My Money Bank (‘MMB’), regarding the potential sale of HBCE’s retail banking business in France. My Money Group, MMB and the Purchaser are under the control, directly or indirectly, of funds and accounts managed or advised by Cerberus Capital Management L.P. The potential sale includes: HBCE’s French retail banking business; the Crédit Commercial de France (‘CCF’) brand; and, subject to the satisfaction of relevant conditions, HBCE’s 3% ownership interest in Crédit Logement, its 100% ownership interest in HSBC SFH (France) (‘HSFH’), and the transfer of rights and obligatio

UFC® Names Lumen® the Official Metabolic Tracker of the UFC Performance Institute18.6.2021 15:30:00 CEST | Press release

UFC®, the world’s premier mixed martial arts organization, has named Lumen® the Official Metabolic Tracker of the UFC Performance Institute®. To launch the new partnership, select UFC athletes will be using Lumen as a tool to optimize their performance under the guidance of the nutrition team at the UFC Performance Institute (UFC PI). These athletes will have access to real-time metabolic data to help improve their nutrition, performance, and body composition through optimizing their metabolic health and flexibility. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210618005278/en/ Dustin Poirier and Lumen (Photo: Business Wire) “The UFC PI strives to support athletes in fueling their body to achieve championship performances while also maintaining optimal health, all while meeting the weight management demands of mixed martial arts,” said Clint Wattenberg, UFC PI Director of Performance Nutrition. “Metabolic health and metabo

Sale of Retail Banking Business in France18.6.2021 15:30:00 CEST | Press release

HSBC Continental Europe (‘HBCE’) has today signed a Memorandum of Understanding (‘MOU’) with Promontoria MMB SAS (‘My Money Group’), its subsidiary Banque des Caraïbes SA (the ‘Purchaser’) and My Money Bank (‘MMB’), regarding the potential sale of HBCE’s retail banking business in France. My Money Group, MMB and the Purchaser are under the control, directly or indirectly, of funds and accounts managed or advised by Cerberus Capital Management L.P. Commenting on the Potential Transaction, Jean Beunardeau, HBCE CEO said: “This potential transaction is an important step towards achieving our strategic goal of being a leading wholesale bank in Continental Europe for Corporate and Investment Banking, Markets and Private Banking, anchored in Paris, connecting our customers to HSBC’s global network, and providing access to Continental Europe for HSBC’s customers around the world. As importantly, this potential transaction would allow HSBC’s French retail banking business to be sold to an expe

Hilton Doubles Down on Las Vegas Growth with Rapidly Expanding Portfolio and Grand Return to the Strip18.6.2021 15:07:00 CEST | Press release

After revolutionizing the Las Vegas hospitality experience decades ago, Hilton is building on its storied legacy in time for the return to travel by almost doubling its presence in the sought-after global destination over the past three years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210618005335/en/ Resorts World Las Vegas – Exterior (Photo: Business Wire) The company is slated to have more than 30 hotels and over 11,000 rooms across 12 brands in the market by the end of 2021. On the heels of Virgin Hotels Las Vegas, CurioCollection by Hilton’s June opening celebration, and just weeks before the anticipated debut of Conrad Hotels & Resorts, LXR Hotels & Resorts and Hilton Hotels & Resorts at the integrated Resorts World Las Vegas complex, Hilton is making an epic return to this top-tier travel destination, bringing new premium and luxury brands to the Strip. “Hilton helped create the Las Vegas we know today – the ente

Toshiba's Chairperson of the Board of Directors Issues Open Letter to Its Shareholders18.6.2021 11:06:00 CEST | Press release

Toshiba Corporation (TOKYO:6502) today announced that Osamu Nagayama, Chairperson of Toshiba’s Board of Directors, has issued an open letter to the company's shareholders. The full text of the letter is as follows: Dear Shareholders As the Chairperson of the Board of Directors of Toshiba Corporation ("Toshiba", the "Company"), I would like to express my deep regret regarding recent unacceptable events at the Company which have eroded your trust in us. You would have seen that we have already taken decisive and immediate action following the release of the Investigation Report, amending the slate of nominees for directors, committee members and executive officers ahead of the upcoming AGM on June 25. I, together with the Board, am fully committed to ensuring we improve your Company's governance fundamentally and enhance its corporate value. United, we shall be taking the following concrete steps with urgency: In order to stop recurrence, we will conduct an inquiry, with third party part

ISAE-SUPAERO Launches an App to Measure the Climate Impact of Aviation18.6.2021 10:30:00 CEST | Press release

While a referendum to include environmental protection in the Constitution could be held by the end of Emmanuel Macron's five-year term, climate protection initiatives are multiplying. To contribute to the debate, ISAE-SUPAERO is launching CAST: an innovative app that allows everyone to assess the climate impact of aviation by including all phases of the life cycle. A unique app that highlights the real carbon impact of aviation Thomas Planès, a doctoral student at ISAE-SUPAERO, has been working on this project for over a year as part of the CEDAR (*) eco-design research chair. Today, his research has resulted in a modeling tool that takes the form of an open access app. The CAST (Climate and Aviation - Sustainable Trajectories) tool allows anyone to estimate the impact that air transport will have on the climate up to 2050, depending on variables such as traffic volume, fuel consumption per passenger-kilometer, or the decarbonization of the fuel used. In addition to CO2 emissions, it

Ferrari Selects AWS as its Official Cloud Provider to Power Innovation on the Road and Track18.6.2021 08:30:00 CEST | Press release

Today, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced that it has entered into an agreement with Ferrari S.p.A. to become their Official Cloud, Machine Learning, and Artificial Intelligence Provider. Together, the companies will accelerate the pace of innovation across the entire Ferrari organization, including their road cars department, GT Competitions, the Ferrari Challenge, and the Scuderia Ferrari FORMULA 1 (F1) team. Ferrari will use AWS’s breadth and depth of services and proven global infrastructure, including the AWS Europe (Milan) region, to streamline design and testing of its cars, giving customers the most exciting driving experiences possible. In addition, Scuderia Ferrari will leverage AWS to launch a digital fan engagement platform, via its mobile app, to engage hundreds of millions of fans worldwide with exclusive, personalized content. This press release features multimedia. View the full release here: https://www.businesswire.c