Music makes money because people form their own unique connection to a melody, a riff, a beat or a lyric. It’s personal and each connection is different. As a by product of this connection, we spend money on music. And when the ‘we’ in the equation is over 200 million people worldwide, you sort of understand the volume of dollars in play.
And the organizations who hold the rights to popular songs benefit a lot from those songs. Next time you hear “Eye Of The Tiger” from Survivor, there is a pension fund around the world which benefits.
You see the Michigan Pension Funds have invested in a music publishing company called Concord Music which is advertised as “owning” a lot of copyrighted works (like close to 400,000 songs). And when those songs it “owns” are played, Concord gets paid the royalties and the state pension fund benefits.
But, isn’t Copyright meant to benefit the creator and give them an incentive to create more art. As the article states;
The state initially invested $25 million in Concord Music, and as the investment team got more comfortable, put a total of $1.1 billion into the company. The market value of their investment today is $1.8 billion, representing $700 million in profit.
If the pension fund made $700 million in profit, how much profit would Concord Music make as the holders/keepers of the Copyright and then how much would go to the creators. Hell the creators can’t even get their rights back under their own control, even though the law states they can after 30 years.
And while all of these dollars from music are going to organizations who contribute nothing to music, CD Baby (another organization) is teaming up with Audible Magic (another organization) to scan the audio artists put up, against its library of 30 million tracks. If the uploaded song matches another track or it has “potentially” copyright-infringing content based on a computer algorithm, then CD Baby can decline to upload the file.
I wonder if CD Baby and Audible Magic are aware that music fans like songs that sound similar to other songs. I can’t even start describing how many songs have an Em, C, G, D chord progression, with melodies which sound similar, so I’m not sure why CD Baby is wasting money they earn from artists to pay an IT company which is looking to be purchased by these kinds of organizations.
And you know that Copyright is out of control when the law suppresses online music teachers, who in most cases teach people for free.
Queue up Warner Music Group, who seem hellbent to takedown everything online and then like all of the other labels, when they are served with termination notices from the artists, they go to court to fight these notices.
But, I am sure the labels would still be pushing the same lines of needing stronger copyright.