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Business News (more headlines) 07-16-2014

TuneCore Pays Out $33.2 Million In Artist Earnings, Sees 300% Growth In Revenues For Publishing Administration Clients In Q2 2014

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Website: http://www.tunecore.com/
Demonstrating growing opportunities for artists in the evolving business of music, TuneCore today announced that digital music distribution payouts to TuneCore Artists in Q2 2014 exceeded $33.2 million, an 18.4 percent increase over Q2 2013. Since its inception in 2006, TuneCore has paid $438.8 million to artists from a total of 8.8 billion streams and downloads. Q2 also saw the company reach the 1 million milestone for registered artist account holders, a testament to the increasing opportunities for the emerging population of musician-entrepreneurs.

In Q2, TuneCore Music Publishing Administration drove an impressive gain of 300 percent in songwriter earnings over the same period in 2013. Through TuneCore’s unique solution for worldwide composition registration, royalty collection and YouTube monetization, more earnings from sources around the world are being delivered into songwriters’ pockets. Songwriters are becoming more aware of the complexity of royalty collection and understands that a publishing administrator such as TuneCore is necessary in order to maximize and collect revenues they earn globally.

An infographic with year-to-date milestones can be found at http://www.tunecore.com/index/artist_milestones

Tapping High-Growth Markets Outside of the US
The ability to easily distribute music to new and emerging markets throughout the world is also proving to be of increasing importance to independent artists. In Q2, TuneCore saw incredible gains in markets outside of the US, with artist earnings from music distribution increasing 43 percent in Germany, 46 percent in Mexico, 52 percent in Asia, 65 percent in Scandinavia and a staggering 147 percent in Brazil.

Maximizing artists’ ability to capitalize on these high-growth regions and ensuring artists’ music is available wherever audiences are looking for it, TuneCore continues to expand its relationships with top stores and services around the world. In Q2 2014 TuneCore added a number of international distribution channels including Asia’s largest subscription-based music service, KKBOX, and the leading music distribution service in Africa, Spinlet. With these additions, TuneCore distributes to more than 80 partners operating in over 200 countries and territories, driving opportunities for musicians in some of the world’s fastest-growing markets.

Securing Lucrative Sync Licensing Opportunities
TuneCore’s Music Publishing team also continues to offer innovative earning opportunities for songwriters through TV, commercial and movie placements thanks to the company’s proprietary Sync and Master Licensing Database and in-house Creative team. In Q2, TuneCore-attained music licensing deals resulted in placements in Birdman (Movie), on Fox Sports TV, in NBC sitcom Growing Up Fisher, and in advertisements for Fairfield Inn as well as a Chevrolet promotion featuring the famed Manchester United soccer team.

“TuneCore is proud to give artists and songwriters the tools to succeed in the ever-evolving business of music and to be a driving force supporting a new generation of musician-entrepreneurs,” commented TuneCore CEO Scott Ackerman. “The results we’re seeing show that the music business is still ripe with opportunity, and we are committed to providing the comprehensive toolset to ensure musicians and songwriters get their music out to the world and that they earn all they can from it.”

About TuneCore
TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $438.8 million on 8.8 billion streams and downloads since inception. TuneCore Music Distribution services help artists, labels and managers sell their music through iTunes, Amazon MP3, Spotify, Google Play, and other major download and streaming sites while retaining 100% of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration (based in Burbank, CA) assists songwriters by administering their compositions through licensing, registration and worldwide royalty collection, including collection of YouTube revenue in partnership with INDMUSIC. TuneCore is based in Brooklyn, NY and is backed by Opus Capital and Guitar Center. For more information, visit www.tunecore.com.

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