Week 33: August 13, 2024:
The latest news from the world of music bizz.
Join us to explore the recent key development highlights from the music industry.
Here’s a glimpse into what’s shaping the scene:
Britney Spears’ life story is hitting the big screen
After the release of her 2023 memoir, “The Woman In Me”, which sold over 2.5 million copies in the U.S., Britney’s biography is now being turned into a film, as Britney revealed on social media platform X. Marc Platt will produce the film, and Jon M. Chu is set to direct. There’s no update on the production schedule yet, so the release date remains unknown.
Movies can be a significant source of royalty income for songwriters. When a song is prominently featured in a film, it can lead to substantial earnings from sync fees, soundtrack sales, and performance royalties. Popular soundtracks can also boost a song’s exposure, increasing long-term revenue through streaming and downloads. A well-placed song in a hit movie can create a lasting income stream, making the right movie placement highly lucrative for songwriters.
You can invest in music royalties for two of Britney’s songs on Tangy Market, ”Tik Tik Boom” and ”Work Bitch”. We don’t know yet if these songs will be featured in the biopic, but let’s hope for our Tangy Market users out there, who are leasing a share of the royalty income until 2033.
To buy a share yourself, download the Tangy Market app for iPhone or Android, create an account, and securely add funds to your in-app wallet. Head to the Marketplace and choose your investment. At the bottom of each investment page, you’ll see live buy and sell orders from other users. Place a bid to buy a share or set your own price to sell your shares. Once your bid matches with a seller or buyer, the deal is done. It’s that simple to start investing in music royalties on Tangy Market. When you own a share, you receive royalty payments for the work four times a year. The payment dates are listed on each investment’s individual page. Learn more in the Tangy Market FAQ
TikTok’s New “Sound Search” Takes on Competitors’ Song Recognition Tools
TikTok has launched a new feature called ”Sound Search” that allows users to identify songs by humming, singing or even playing it.
This new feature, introduced in August 2024, is a direct challenge to established music identification services like Shazam and YouTube Music, offering video content associated with the identified song and solidifying TikTok’s role as a leading platform for music discovery.
Both TikTok and YouTube Music offer more comprehensive services than Shazam’s song recognition tool, which only recognizes songs when the actual track is played. Unlike its competitors, TikTok goes a step further by not only identifying songs but also displaying videos that use them. When tested, the effectiveness of TikTok’s Sound Search feature appears to be more pronounced with popular songs on the app.
Are you following Tangy Market on TikTok? 🎶 Check out our account: @TangyMarket – follow us for the latest updates on music royalties, investments on Tangy, and more.
Federal Legislation for AI Deepfakes
In July 2024, the U.S. Senate introduced the ”NO FAKES Act,” a bill aimed at combating the misuse of AI-generated deepfakes in the music industry. This legislation is designed to protect artists and creators from having their likeness, works, or voice replicas manipulated by AI technologies without their consent. Additionally, the act includes provisions to protect these rights posthumously, allowing heirs to control them for up to 70 years.
The bill has garnered strong support from both artists and music companies, as the rapid advancement of AI technology has raised significant concerns about its potential to create unauthorized or fake musical works.
In a related move, the European Union has also strengthened its AI regulations, targeting deepfakes amid rising concerns. The AI Act, Europe’s first-ever legal framework on AI, addresses the risks associated with AI and positions the EU to play a leading role on the global stage.
