UK Parliament’s Committee Proposes Ticket Levy on Large Shows
This week, the UK Parliament’s Culture, Media and Sport Committee recommended that the government consider implementing a levy on ticket sales for large-scale shows. The aim is to generate additional revenue for the music industry while also reducing VAT for grassroots music venues, creating a more equitable financial landscape for all sectors of the music community.
How to Earn 100$ per Day?
SXSW London Faces Controversy Over Offshore Backing
SXSW’s expansion to London has been met with controversy, as it is backed by a network of offshore companies. Concerns have been raised about the festival’s connections to the Mayor of London and a PR boss with ties to the London mayor’s office. Calls have been made for the festival to reconsider its planned launch date in June 2025 amidst these concerns.
News in Brief
TikTok Sues US Government Over Ban
TikTok has filed a lawsuit against the US Congress in an effort to block a law that could result in the app being banned. The company argues that the law, which requires the sale of TikTok by its Chinese owner ByteDance, is unconstitutional and impractical. The legal battle continues as TikTok fights to maintain its presence in the US.
Goldman Sachs Reports a Turning Point for Music Industry
Goldman Sachs has published its annual ‘Music In The Air’ report, highlighting 2023 as a turning point for the music industry. The report predicts a 7.6% annual growth rate fueled by streaming price increases, advancements in AI, and opportunities for superfans. The live sector is expected to experience a resurgence, contributing to the industry’s growth trajectory.
Universal Music CEO Faces Pay Vote at AGM
Lucian Grainge, CEO of Universal Music Group, is under scrutiny as shareholders evaluate his potential bonus amidst soaring UMG share prices. Investors are closely monitoring Grainge’s short-term incentives, raising questions about the appropriate level of executive compensation within the music industry.
Astroworld Lawsuits Settled, One Case Pending Trial
Live Nation has settled nine out of ten wrongful death lawsuits stemming from the tragic Astroworld incident. The remaining case is scheduled for trial, highlighting the ongoing legal repercussions and financial implications for event organizers in the wake of the tragedy.
Facebook Faces Calls for Action on Ticket Scams
Consumer rights group Which? has urged regulatory action against social media platforms, including Facebook, to combat ticketing scam posts. As the UK implements the Online Safety Act, organizations like Which? are advocating for greater accountability to protect consumers from fraudulent ticket sales.
Music Venue Properties Acquires The Ferret in Preston
Music Venue Properties, part of the Music Venue Trust’s Own Our Venues initiative, has acquired The Ferret in Preston. This acquisition aims to support local grassroots music communities and ensure the venue’s long-term sustainability within the music industry.
Apple Acknowledges Criticism Over iPad Advert
Apple’s recent iPad advertisement sparked controversy for depicting the destruction of various objects, leading to accusations of insensitivity towards creators. The tech giant has acknowledged the backlash, emphasizing the importance of aligning marketing strategies with consumer expectations and values.