The Industry Connection

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Music News

•  💰 Spotify has announced a significant change to its royalty payout model, with an intent to pay $1 Billion to Artists over the next 5 years.

  • This move is to “combat streaming fraud” and “reward legitimate artists” in three ways starting in Q1 of 2024:

  • 1) Introduce a threshold of minimum annual streams before a track can generate royalties on Spotify. Currently, any stream over 30 seconds long triggers a royalty payment. That will no longer be the case.

  • 2) Financially penalize labels and distributors of music when they upload fraudulent tracks.

  • 3) Introduce a minimum length of play-time that each non-music ‘noise’ track must reach in order to generate royalties.

    • Check out the full report here.

• 🤑 Spotify also announced they turned a profit for the first time in more than a year.

  • The music streaming giant reported an 11% spike in revenue following a $1-price hike on U.S. premium solo plans, compounded with layoffs and marketing budget cuts.

• 🎤 TikTok is expanding into live music events.

  • The inaugural “TikTok In The Mix” event will be held on December 10 in Mesa, AZ of all places, and feature Cardi B, Niall Horan, Anitta and Charlie Puth.

  • It will, of course, also be streamed out globally via TikTok Live.

• 🏆 Taylor Swift, Morgan Wallen & SZA top the 2023 Billboard Music Awards Nominations.

  • Check out the full list here.

Entertainment News

• 🤫 Could Endeavor be going Private again?

  • The talent agency (WME) and sports company run by Ari Emanuel, said it would “explore strategic alternatives.” That likely means a possible sale (not very likely) or Privatizing again after two and a half years on public markets (much more likely).

  • Silver Lake, the giant tech and media company and not “LA’s Brooklyn,” owns 71% of the voting power for Endeavor Group Holdings and has insisted they are not open to selling their shares.

  • It’s become clear that the public perception does not accurately reflect the value of their underlining assets, as their stock price has been underwhelming since the delayed IPO in 2021.

  • Note: Their stock has jumped 23% since the announcement as of writing.

  • Read about the process of Privatization here.

• 🍎 Apple is the latest streaming company to hike their subscription fees.

  • Apple TV+ jumps from $6.99/month to $9.99/month, or $69 to $99 if you’re into commitment and subscribe to their yearly subscription.

• 👐 The Studios and SAG-AFTRA resume their meetings today, after it was pushed 24 hours.

• 🤔 Comcast’s earnings were released this morning

  • Peacock ONLY was in the red $565 million, compared with $614 million in the year-earlier period.

🎙️ Interview with Donald S. Passman, Author of All You Need To Know About The Music Business

This week, we sit down with Donald S. Passman. Although you may not know him by name, you most certainly have heard of his book All You Need To Know About The Music Business. It is required reading at many of the agencies, and has been a launchpad for thousands of music industry careers (including mine) over the last 30 years & 10 editions of publishing. The 11th edition dropped on 10/24 and addresses the most pressing issues in today's music industry, including AI, TikTok, mega-million dollar catalog sales, and streaming.

Our conversation is below:

AvA: When did your interest in the intersection of law and music begin?

Passman: I always loved music. I grew up playing music, listening to music, and was around the business side because my stepfather was a disc jockey. But it became clear in my college band that I wasn’t going to make it on talent, so I went to law school. I planned on being a tax lawyer, then saw a summer clerkship posting (on a physical bulletin board in those days) for a firm that did “Entertainment Law.” That really lit me up; I didn’t know there was such a thing, and I felt immediately that it would combine all the things I loved: being involved with creative people and handling business.

I think I can speak both the creative and business languages, and I really enjoy the challenge of bridging the gap between the two. Here’s the reality: You can’t have a business without creative people, and creative people can’t make a living without business people. But there’s always tension. Business people need to control costs to make a profit, and creatives don’t want their vision constrained. For me, the greatest pleasure is finding a sweet spot where everyone is (mostly) happy.

AvA: What continues to drive that passion today both professionally and personally?

Passman: I love what I do. Apart from the reasons I just described, I get a true rush from making a complicated deal happen. I’ve also been blessed to work with clients who have the clout to rewrite the rules and that’s the most exciting. I love doing something creative that’s never been done before.

AvA: Your book All You Need To Know About The Music Business continues to be the guide for the Music Industry. What drove you to first publish it back in 1991?

Passman: I started writing my first book when I was seven years old, by dictating it to my Grandmother. She thought it was wonderful, but perhaps she wasn’t the harshest critic….

I later took creative writing in high school and college, and I started a few books that went nowhere, but it was always an itch.

After I’d been practicing law for a number of years, I taught a class at USC Law School on the music business (the same class I took when I was a year out of law school, which really excited me about being a music lawyer). After a few semesters, I realized my class notes were the outline of a book. I felt there was a need for an easy-to-read overview of the business, and I think I have the ability to explain complicated topics in simple terms. I’m aware that musicians are oriented to their ears, and reading isn’t their favorite pastime, so I kept it light with humor and small, bite-sized chunks of information. Today, there’s also an audio version of All You Need to Know About the Music Business as well.

One of my favorite comments that I got over the years was that someone told me it was the first book they’d ever finished in their life.

AvA: The 11th edition came out on October 24th. Can you give us a little preview of some of the new content?

Passman: I explain why artists have more clout today than ever in history. I talk about AI, both the legal and copyright aspects and how it will affect the business. There’s also a section on the mega-million dollar sales of catalogs, music in the Metaverse, and NFTs, plus an extensive update of the overall business and numbers, including a new section on how international streaming pays songwriters. And I expanded the section on how to build a buzz for yourself, which is crucial these days, whether you’re going indie or mainstream.

AvA: It feels like the conversation around AI and music is just beginning, and one that has so many gray areas. How do you foresee laws around AI developing?

Passman: It is indeed just beginning, and it’s a dilemma. The Genie is out of the bottle, so there’s no going back, and it may be hard to put guardrails around it, particularly when other countries don’t see it the way we do. So it’s too soon to tell how this will play out, but it’s a problem far beyond the music business.

AvA: Although hard to predict, what will we be reading about in the 12th edition?

Passman: I don’t think there will be a change away from streaming, which was a massive shift in the 10^th edition of the book, but I suspect there will be a lot of action around AI as it works into the system. There is also a question of whether the streamers will continue to pay based solely on the number of plays divided equally for all content providers. There’s a complex issue I describe in the 11^th edition, about whether it should be based on per user as opposed to per stream, but there’s an even bigger issue that’s already started: whether the major artists deserve more of the pie than the folks who only have a few hundred streams per year.

Open Jobs and Internships

💼 = Job | 🎒 = Internship

💼 Coordinator for Events & Special Projects - The A List - Los Angeles - The A List is a full service, influencer and experiential global marketing firm, creating live and digital experiences, innovative strategies and campaigns for fashion and lifestyle brands. Send resumes to [email protected].

💼 Account Manager (UK) - DICE - London - Account Manager will join their Operations Team, forming strong relationships with venues and promoters in the UK. Apply here.

💼 Associate Producer, Entertainment - SiriusXM - New York City - Ideal candidates will have a minimum of 2 years of experience in radio, podcast, or audio production and audio editing experience. Apply here.

💼 Executive Assistant - Concord - Los Angeles (Hybrid) - This is a great opportunity for a candidate looking to later transition into a business-focused position within the music industry. Applicants should have 1-3 years of experience in a similar position, wherein administrative and organizational support was provided to a high-level executive (preferably in the entertainment field). Apply here.

💼 Assistant, Creative Synch - Kobalt - New York City - Kobalt is seeking a music-loving assistant to join the global creative synch team. Applicants should be passionate/knowledgable about Synch; bonus points to candidates who have 1+ years of administrative experience and experience in the music industry with knowledge of the recorded and music publishing businesses. Apply here.

💼 A&R Assistant - AMP Entertainment - Los Angeles (Remote) - Full time entry level position with room for growth to A&R/Creative. Ideal candidates will have 1-2 years of relevant internship experience, a musical background, and experience with design tools, but these qualifications are not required. To apply, send your resume to [email protected].

💼 Associate Producer - The Loop Lab - Cambridge, MA (Hybrid) - Must have experience with Davinci Resolve, Pro Tools, Adobe Premiere, Audition/CC software, Audition, Photoshop, Lightroom/CC suite and Avid Media Composer. Candidates should also be familiar with familiar with DSLR, Cine, ENG on-location work and experience with camera/lighting/audio equally in these environments. To apply, email your resume and portfolio to Deirdre Morales at [email protected].

💼 Junior Graphic Designer - Insomniac Records (GLOW) - DC - GLOW is currently seeking a Junior Graphic Designer (1+ years proven work experience as a Graphic Designer/similar role). Video, Motion, and Animation skills a plus. Apply here.

🎒Spring Internship (Various Departments) - Big Loud - Nashville - Every semester their paid interns get hands-on (in-office) experience where they get to be embedded within a department, doing real work for Big Loud’s artists. Apply Here.

🎒Intern - TOORLY - Remote - TOORLY is offering internships in the Campus Activation, Content, Industry Research, Instagram, TikTok, Twitter/X, and Video teams. Must be able to start on October 30th or November 6th, and can commit to a minimum of 15 hours for at least three months. Apply here by October 29th.

🎒Intern, A&R East Coast - Sony Music Publishing - Atlanta, GA - Must be knowledgeable and passionate about the music industry and A&R Music. Apply here.

🎒Summer Intern - SoundExchange - DC (Hybrid) - Intern opportunities include Marketing & Industry Relations, Communications (Public Relations & Social Media), Operations (Data & Royalty Processing), Customer Services & Account Management, Finance & Accounting, Legal (Licensing & Enforcement), International Operations, and Technology. This is a paid internship and includes a housing/transportation stipend; apply here by November 10th. 

🎒Booking Intern - Live Nation Canada - Toronto, ON - Applicants must have an avid interest in music, be knowledgeable about artists and genres, and have an overall interest in learning about the music industry. Apply here.

👋 Thanks for reading this week’s newsletter and see you next week!

This newsletter is written by Warner Bailey (connect with me here). Edited by Malik Figaro. 

Get in touch! Email us at [email protected]. Want to partner with us and reach 12k+ Entertainment professionals? Email [email protected].