If you don’t follow the UK’s Ivors Academy, you really should.
Ivors Academy CEO Graham Davies has shared his hopes for streaming remuneration reform following positive noises from the majors on the issue.
Universal Music Group CEO and chairman Sir Lucian Grainge confirmed his support for a fresh approach to streaming royalties in January. “What’s become clear to us and to so many artists and songwriters – developing and established ones alike – is that the economic model for streaming needs to evolve,” he said as part of his traditional New Year message to UMG employees.
Last month, meanwhile, Warner Music Group chief Robert Kyncl told Morgan Stanley’s Media And Telecom conference that it is up to the whole industry to “figure out a new model that drives the value of music up”.
Speaking in the May issue of Music Week, Davies said he was encouraged by the comments, which he considered to be testament to the work of the DCMS Committee and movements such as the Ivors’ Fix Streaming campaign.
“It’s great to hear Universal and Warner talking about remuneration reforms,” he said. “Ultimately, what we’re looking for is for the value of those rights to be higher.