Headlines: How The Money Flows

  in Industry News

Mar 22, 2021

HITS Act Reintroduced in Congress (Billboard) 

The legislation would allow creators to deduct 100% of recording expenses in the first year.

Spotify Unveils Detailed Guide to Royalty Payment System (Variety)

The number of artists who are making money from streaming is expanding dramatically. In 2020: 
- 184,500 artists generated recording and publishing royalties over $1,000, from 89,700 in 2017
- 7,800 artists generated over $100,000, from 4,200 in 2017 
- 870 artists generated over $1,000,000 from 450 in 2017

NFTs Sell for Millions Get Attention, Don’t Expect Them to Last (Billboard)

I'm not sure if the crazy amounts of money that creators are earning in the five, 10-minute spans of these wild opens -- I don't know if that's sustainable.