From BTS becoming Tamagotchis to the return of Limewire, we’ve gathered the must-read stories from the latest and wildest week in music.
March never disappoints. Maybe it’s the changing of the seasons and the knowledge we are inching closer to summer, but something about this month seems to set the industry on fire. Everywhere you look, major deals are being made. Catalogs are being bought, artists are joining labels, and fans are reaping the benefits of an industry hungry to return to normal.
We cannot ease your workload or give you more hours in the day, but we can help you stay informed. That is why we are thrilled to introduce This Week In Music, a brand new weekly column highlighting the best and most talked-about stories throughout the music industry. Each Friday, we will post links to various need-to-know articles and information.
But let’s be honest. There is no way we can hope to cover everything that happens. If you see a headline we missed that people need to know, please do not hesitate to send james@haulix.com an email. We’ll include your links in the next update.
The Biggest Stories In Music This Week
BTS become Tamagotchis in latest crossover promotion
Get ready ARMY, because the men of BTS are receiving their own line of Tamagotchis! A new ad from BANDAI shows RM, Jin, Suga, V, J-Hope, Jimin, and Jungkook in pixelated TinyTAN form in the miniature, egg-shaped games, which come in both red and purple versions.
Players can even change the outfits of the K-pop idols into three different styles — pajamas, dance practice, and mic drop — before they can perform to “Dynamite.” Throughout the day, the boy band characters also go about their daily schedules of waking up, practicing music, dancing and hitting the sauna.
The industry turns its back on Russia
This week, Warner Music Group and SONY joined Universal Music Group, Live Nation, Spotify, PRS for Music, and others in suspending operations in Russia. The moves are among the latest actions taken by music companies and professionals to stand in support of the Ukrainian people.
Beginning with Warner Music Group (NASDAQ: WMG), which established Atlantic Records Russia in Moscow last year, a spokesperson made clear in a statement that the major label has paused manufacturing, promotional efforts, and new releases in the European nation.
“Warner Music Group is suspending operations in Russia, including investments in and development of projects, promotional and marketing activities, and manufacturing of all physical products,” the WMG spokesperson said. “We will continue to fulfill our agreed upon obligations to our people, artists, and songwriters as best we can as the situation unfolds. We remain committed to supporting the humanitarian relief efforts in the region.”
Sony Music also informed the public of its withdrawal from Russia in a brief statement, indicating: “Sony Music Group calls for peace in Ukraine and an end to the violence. We have suspended operations in Russia and will continue our support of global humanitarian relief efforts to aid victims in need.”
Limewire to return as NFT Marketplace
They say that only the good die young, which may explain why Limewire cannot be stopped. The former haven for music piracy, which was originally shut down in 2010, will soon be back online with a new business model.
According to Bloomberg, two Austrian entrepreneurs bought the rights to defunct music platform LimeWire with plans to revamp its image for the internet’s next generation by selling nonfungible tokens attached to music, content and artworks.
“It’s a very iconic name. Even if you look on Twitter today, there’s hundreds of people still being nostalgic about the name,” said Julian in an interview, who will act as co-CEO alongside Paul. “Everybody connects it with music and we’re launching initially a very music-focused marketplace, so the brand was really the perfect fit for that with its legacy.”
LimeWire will debut with support for buying and trading music-related nonfungible tokens, such as exclusive songs, merchandise, graphical artworks and experiences like backstage content. The startup will also launch its own utility token via a private sale within the next three weeks, which Paul said would be used like a loyalty program.
RIAA: Recorded music reaches $15 billion milestone; 23% growth in 2021
This week, The RIAA released new data showing continued strong growth in virtually every recorded music format – including streaming, vinyl, and even CDs which jumped 21% last year. That strong, broad growth – which includes TikTok music revenue for the first time – pushed overall revenues to a historic $15 billion last year, the highest figure ever reported by our industry (though when adjusted for inflation still nearly 40% off 1999’s peak). This data shows how artists and labels working together are achieving new heights of creative and commercial success and driving opportunities and income streams for songwriters, publishers, platforms, services, and apps.
Amazon hopes its Clubhouse competitor, Amp, will reinvent radio
Also this week, Amazon launched Amp, a Clubhouse competitor with music licensing deals.
Anyone who signs up will be able to host their own live show, complete with the ability to stream “tens of millions of licensed songs” from the big three record labels and “a long list” of indies, Amazon says. The goal is to turn any user into a radio DJ who can program a playlist, talk to listeners, and chat with call-in guests.
Critically, hosts and listeners won’t need to subscribe to any particular service to tune in — anyone can listen in to full-length songs as long as they sign up for Amp, which is free.
As The Verge points out, Amazon is positioning this as more of a radio-style service than a live chat service (there’s even a five-person cap on callers right now), which is probably for the best. Clubhouse and Twitter Spaces already have a big presence in the live audio space, and Facebook is taking a crack at it, too. But none of them have the music licensing agreements in place that Amazon does, and so those services have focused far more on conversations between hosts and guests. Amazon has a chance to let hosts do something very different here, giving everyone a shot at being something like a college radio DJ.
