Enjoy great online radio at AccuRadio




RAIN 5/24: SoundExchange explains $200 million in unpaid royalty holdings

Posted on: 05/24/2010

SX SAYS HALF OF “HOLDINGS” IS ACTUALLY NOT BEING HELD AT ALL

In response to last week’s discovery by Digital Music News that SoundExchange is holding $200 million in unpaid royalties (RAIN coverage here), the non-profit organization has explained why it’s seemingly sitting on so much cash.

SoundExchange spokeswoman Laura Williams told Wired that, in fact, half of the $200 million is actually not being “held,” but was rather “just in transit through our system when the count occurred.” Additionally, said Williams, 11% is being held pending court rulings and 5% should go to foreign artists, but international royalty societies haven’t claimed the funds yet. And finally, 10% of the cash came with no data about who the money should go to (says Williams), while 5% had bad data (like “Various Artists”).

Wired‘s Eliot Van Buskirk does the math (here) to find that Williams’ explanation covers 80% of the $200 million, “which leaves around $39 million owed to artists and labels that have yet to register with the service, and could be unaware that they need to do so.”

As Pandora founder Tim Westergren has stated, it’s “remarkably hard to get musicians to take the initiative.” Still, Van Buskirk writes that, “despite its protestations to the contrary, SoundExchange could clearly be doing more to find these people.” However, he concludes, “As satisfying as it might be to pin the blame on SoundExchange…the underlying cause of this situation is that too many [artists] (or their beneficiaries) simply don’t realize they need to register.”

RAB: RADIO DIGITAL REVENUES CONTINUE TO GROW AS OVERALL REVENUES IMPROVE

In 2009, digital revenue’s overall growth of 13% was usually the only positive note in souring revenue reports. That doesn’t seem to be the case in 2010, however, as overall radio revenues have increased 6% since last year — “the largest year over year gain posted since third quarter of 2000,” according to Jennifer Lane’s Audio4Cast blog (here). Digital growth outpaced the overall gains though, increasing by 18% (more from RAB here).

Lane points out that overall Internet ad revenues (not just radio) increased 7.5% in the first quarter of 2010, hitting $5.9 billion. Lane writes, “While digital dollars for radio are growing faster than the entire digital spend, radio’s $480 million in digital dollars remains a small segment of that pie.”

HP TABLET PC TO RUN ON WEB OS, COMING IN OCTOBER?

The biggest tablet competitor to yet challenge Apple’s iPad may come from HP in October, and it may run on Palm’s webOS. Dubbed Slate, the device was going to run on the Windows 7 operating system but now (according to Ars Technica, here) will use the same webOS technology found in Palm Pre and Pixi devices. This should mean that Net radio applications currently running on those devices — like Pandora, Slacker and AccuRadio — will be available on HP’s new device.

Additionally, webOS offers true multitasking (the ability to run several apps at the same time), meaning users can listen to Net radio while performing other tasks — something they can’t do on an iPhone or iPad…yet. However, Engadget reports that there is no truth to these rumors (here). One thing is clear: HP has been very vocal about producing a webOS tablet and that should be a good thing for webcasters. HP bought Palm in April (RAIN coverage here).



share:  del.icio.us.  post this at del.icio.us  Reddit  post this at Reddit  Digg  post this at Digg  Yahoo   post this at Yahoo! my web  Wink   post this at Wink  Windows   post this at Windows Live  Google  post this at Google Bookmarks  Newsvine  post this at Newsvine

Comment

Commenting is closed for this article.


Blogroll
AccuRadio is powered by...
Conference schedules
Sep. 12 SF Music Tech Summit: San Francisco, CA
Sep. 13 RAIN Summit Chicago @ NAB/RAB RadioShow: Chicago, IL
Sep. 14-16 NAB/RAB RadioShow: Chicago, IL
Sep. 24 IBS Radio/Webcast Conf.: Chicago, IL
Oct. 6-7 Digital Music Forum West: Los Angeles, CA
Oct. 13-14 Digital Content Summit/Music: New York, NY
Oct. 18-22 CMJ Music Marathon: New York, NY
Oct. 27-30 CBI Fall Convention: Orlando, FL
Nov. 5 IBS Radio/Webcast Conf.: Boston, MA
Nov. 19 IBS Radio/Webcast Conf.: New York, NY
Dec. 3 IBS Radio/Webcast Conf.: Los Angeles, CA