@EustanceHuang: Evergrande collapse could have a ‘domino effect’ on China’s property sector, AllianceBernstein says

[Editor Charlie sez: Dow Jones dropped 800 points during trading yesterday on news of what could be China’s Lehman Brothers financial contagion, 2008-style–Holy pangolins, Batman! Don’t believe every dead cat bounce. If you didn’t notice that 800 point drop yesterday, this analyst has some sobering news highlighting the need to index all songwriter royalties to rise with inflation.]

China’s “highly distressed” real estate companies are at risk of collapse as the country’s highly indebted developer Evergrande is on the brink of default, warns AllianceBernstein’s Jenny Zeng.

Speaking with CNBC’s “Street Signs Asia” on Friday, the co-head of Asia fixed income at AllianceBernstein warned of a “domino effect” from a potential Evergrande collapse.

“In the offshore dollar market, there is a considerable large portion of developers (who) are implied to be highly distressed,” Zeng said. These developers “can’t survive much longer” if the refinancing channel remains shut for a prolonged period, she added.

@cgartenberg: Reddit CEO says TikTok is ‘fundamentally parasitic,’ cites privacy concerns

[Editor Charlie sez: Artists and songwriters should consider how their music is used for child data exploitation and Internet addiction. Not surprising that Europeans are investigating TikTok for data protections for children under 13 and the transfer of personal data by TikTok to China military-civil authorities likely under Articles 7 and 14 of China’s National Intelligence Law.]

Reddit CEO and co-founder Steve Huffman called TikTok “fundamentally parasitic” due to concerns over privacy during an appearance at the Social 2030 venture capital conference this week (via TechCrunch). Huffman specifically called out TikTok’s practice of fingerprinting to track devices as being of particular concern. 

“Maybe I’m going to regret this, but I can’t even get to that level of thinking with [TikTok],” Huffman said at the event, “because I look at that app as so fundamentally parasitic, that it’s always listening, the fingerprinting technology they use is truly terrifying, and I could not bring myself to install an app like that on my phone.”

Read the post on The Verge

@digitalmusicnws: @Portisheadinfo Says SoundCloud’s ‘Fan-Powered’ Royalty System Has Boosted Their Payments by 500%

Back in March, SoundCloud introduced “fan-powered royalties,” or direct-to-artist payments based upon actual user engagement. Now, a track that Bristol’s Portishead released exclusively on SoundCloud in July has reportedly generated over six times the royalties that it would have made on streaming services with a pro-rata model in place.

Read the post on Digital Music News

@julia_marnin: China [CCP] Orders Broadcasters to ‘Put An End’ to ‘Sissy Men,’ and ‘Other Abnormal Esthetics’

[Editor Charlie sez: Will TikTok be next?]

The Chinese government ordered its TV broadcasters to “put an end to sissy men and other abnormal esthetics,” its TV regulator said, as China’s Communist Party cracks down on its society for a “national rejuvenation” ordered by President Xi Jinping, the Associated Press reported.

China’s TV regulator insultingly addressed effeminate men with the slang term “niang pao” meaning “girlie guns.” The order to “put an end” to them demonstrates the Chinese government’s worries that male pop stars provide a lack of masculine influence for the nation’s men. Meanwhile, in nearby Japan and South Korea, many male pop stars are known for having a sleek and feminine image.

In addition, broadcasters were ordered to not promote “vulgar internet celebrities” alongside celebrity culture and that broadcasters should “vigorously promote excellent Chinese traditional culture, revolutionary culture and advanced socialist culture.”

Read the post on Newsweek

Results of ARW Songwriter Mechanical Royalty Income Questionnaire

We hosted a questionnaire to elicit responses from songwriters during June and July on the sources of their income particularly regarding physical and downloads. We got some interesting responses and many thanks to all those who participated!

You can read the entire anonymized responses here, but there were a couple of responses to call attention to: