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Digital Economy

Alphabet’s revenues were up 13% while profits were down 14% in Q2 2022

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Google’s parent company Alphabet posted revenues up 13% to $69.7 billion during the second quarter, with a net profit of $16bn, down 14% from the same period a year ago.

Alphabet and Google CEO Sundar Pichai said the company performance during the quarter was "strong," and that it benefited from "momentum in Cloud," which surpassed the $6bn quarterly revenue mark for the first time. Total Google Services revenues were up 10% to $62.8bn.

Advertising sales were up 13% to $40.7bn, showing t...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

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Creative Industries

Quotes of the week — Week 37, 2022

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September 29, 2022

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"I don't know what to say. What a dump."By Elton John, taking to the stage at the White House where he was presented by President Joe Biden with the National Humanities Medal, during an event on the South Lawn of the White House, drawing laughter from the audience. He went on to perform 'Your Song', 'Rocket Man', 'Tiny Dancer' and 'Crocodile Rock'. John was unaware that he was receiving a medal as President Biden and first lady Jill Biden invited him to the White House to thank him for his musi...

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Creative Industries

Key figures — Week 37, 2022

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September 29, 2022

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1.68 billion

That's the estimated number of SVoD subscriptions in the world by 2027, up from 1.2 billion in 2021, according to a report from Digital TV Research. By 2027, SVoD global revenues will reach $132 billion.

€364.4 million

That's the value of the French recorded music market in the first half of the year, up 8.2% compared to the same period the year before, according to statistics published by trade organisation SNEP. Digital accounted for €282m during the period, up 14% year-...

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Creative Industries

Main stories — Week 37, 2022

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September 29, 2022

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LEAD STORY
> GESAC study puts authors and composers at the heart of the streaming economy

> GESAC report: The pricing of streaming services and its impact on authors and composers

COPYRIGHT & REGULATION
> The American Music Fairness Act is introduced in the Senate by Marsha Blackburn and Alex Padilla
> Senate Judiciary Committee approves by a 15-7 vote the Journalism Competition and Preservation Act to support local news
> Constitutional Court rules sections of South Africa’s Copyright Act are unconstitutional

LITIGATION
> Netflix drops lawsuit against the creators of ‘The Unofficial Bridgerton Musical’
> Mr. Probz and his company Left Lane accuse Sony Music Entertainment and Ultra Records of withholding royalties

CMOs & LICENSING
> The MLC unveils new portal for independent music distributors to help them identify unmatched recordings and claim royalties
> Authors Guild welcomes Amazon’s decision to modify its return policy for ebooks

DATA
> Luminate shuts down radio airplay monitoring system BDS and seals an agreement with iHeartMedia’s Mediabase

CREATIVE INDUSTRIES
> Robert Kyncl’s Warner Music Group CEO job comes with a $2m annual salary, a yearly target bonus of $3m, plus $10m in shares
> J.P. Morgan believes Hipgnosis is offering ‘compelling value’ to investors
> Downtown Music Holdings names Pieter van Rijn President of its new professional services division Downtown Music
> Hipgnosis Songs Fund’s Chief Catalogue Officer Amy Thomson quits to launch a catalogue-management platform

DIGITAL ECONOMY
> Epix has been rebranded as MGM+
> 7digital Group Chair Tamir Koch steps down; company secures £500,000 loan
> Global SVoD subscriptions to reach 1.68 billion by 2027, up from 1.20 billion in 2021

DEALS
– Universal Music Group acquires a majority stake in India’s TM Ventures
– Pophouse acquires 75% of Avicii’s master recordings and publishing rights
– Sony Music Publishing Nashville has signed Jamie Davis to a global publishing deal
– Position Music/Hive Music sign Blackway to a global record and co-publishing deal
– Big Machine Label Group signs Chris Janson in partnership with Harpeth 60 Records
– Dove Cameron has signed a global agreement with Sony Music Publishing

IN THE NEWS
– Napster appoints former Roblox Head of Music Jon Vlassopulos as its new CEO
– Register of Copyrights Shira Perlmutterhas joined USPTO’s Council for Inclusive Innovation (CI2)
– PIXELYNX has named Chris Mendez Vice President of Ecosystems
– Leila Oliveira succeeds Sérgio Affonso as President of Warner Music Brazil
– Sony Music Publishing UK has promoted Rob Stratton to the position of Director of Visual & Media Rights
– Rodolphe Belmer has been appointed CEO of French commercial broadcaster TF1
– Believe beefs up management team in SE Asia under the leadership of Antoine El Iman

INTERVIEWS
In case you missed it, Creative Industries News published recent Q&As with:
– Bruno Guez (Revelator)
– Andrea C Martin (PRS for Music)
– Cécile Rap-Veber (SACEM)
– Molly Neuman (Songtrust)
– Jordi Puy (Unison)
– Olivier Chastan (Iconoclast)
– Ken Umezaki (Verifi)
– Paul Pacifico (AIM)
– Spek (PopArabia)
– Merk Mercuriadis (Hipgnosis) (Part 1)
– Merk Mercuriadis (Hipgnosis) (Part 2)

OPINION
In case you missed it, Creative Industries News published recent opinion pieces from:
– Chola Makgamathe (SAMRO): South Africa needs a comprehensive, multifaceted strategy to curb the economic impact of piracy
– Susan Cotchin (Good Neighbour Rights): ‘Australia’s decision to limit the application of Art. 15 of WIPO’s WPPT has impacted Australian artists in a big way’
– Helen Smith (IMPALA): ‘We don’t believe equitable remuneration is equitable at all’
– Jonathan Reichman and Jeremy King (Hunton Andrews Kurth): ‘Warhol Foundation v. Goldsmith is an opportunity for US Supreme Court to clarify fair use’
– Kevin Casini: ‘Stakeholders need to take a long-term view with the Copyright Royalty Board’s rate-setting proceedings’
– Barry Scannell (IMRO): ‘Royalty-based NFTs have limited fungibility’

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