Ten Music Business Highlights from 2012 | Music Business Journal ...

9) South Korean rapper, Psy, crossed international borders and entered the U.S. mainstream with his viral hit song, ?Gangnam Style.? In November 2012, the music video became the most-watched YouTube video in history.⁸??He quickly signed a management deal with Scooter Braun, who discovered Justin Bieber and Carly Rae Jepsen.? Until now, K-Pop acts have experienced difficulty breaking into the U.S. market.? If Psy continues to make progress as a cultural crossover, it will be an impressive achievement.

10) Dr. Dre is 2012?s top-earning musician according to the Forbes? list: ?The World?s Highest Paid Musicians 2012?. The artist, producer and entrepreneur earned $110 million between May 2011 and May 2012, mostly due to his Beats headphone line.⁹?The success of this merchandise venture exemplifies a creative strategy to maneuver the shifting music industry ? and it proves that there is still money in the music business.? Dr. Dre, Jimmy Iovine and Ian Rogers plan to ?introduce a new streaming service called Daisy later this year.

Many have agreed that streaming represents the future of music consumption, but the debate over how its meager profits are allotted is widespread and impassioned. Online radio services like Pandora and interactive streaming applications such as Spotify argue that their businesses help musicians and copyright owners.? But musicians, songwriters, record labels and publishers have expressed concern over being devalued and undercompensated for their work.? Some see streaming as a race to the bottom.? Billboard Magazine named 2011 ?a year of tectonic shifts? and described 2012 as ?a year of consolidation and contention.?¹⁰?In the wake of ongoing changes and conflict, perhaps we can hope that 2013 might be a year of compromise and cooperation.

By?Emilie Bogrand

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Endnotes

1.?Resnikoff, Paul. ?1 In Every 43 Venture Capital Dollars Is Now Flowing Into Music,? Digital Music News, Jan 22, 2013. http://www.digitalmusicnews.com/permalink/2013/20130122investment

2.?IMS Consumer Report 2012. Rep. Ibiza International Music Summit, 24 May 2012. Web. <http://www.internationalmusicsummit.com/ims-consumer-report-2012>.

3.??Electronic Cash Kings.? Forbes. Forbes Magazine, n.d. Web. <http://www.forbes.com/special-report/2012/0802_top-djs.html>.

4.??US recorded-music sales recovery stalls in 2012, but live sales just keep on rising,? Music and Copyright, issue 474, Jan 23, 2013.

5.?Resnikoff, Paul. ?1 In Every 43 Venture Capital Dollars Is Now Flowing Into Music,? Digital Music News, Jan 22, 2013. http://www.digitalmusicnews.com/permalink/2013/20130122investment

6.?Christman, Ed. ?Sony/ATV?s Martin Bandier on New, ?Quite Reasonable? Pandora Deal,? Billboard Magazine, Jan 18, 2013. http://www.billboard.com/biz/articles/news/publishing/1510417/sonyatvs-martin-bandier-on-new-quite-reasonable-pandora-deal

7.??Adele?s 21 is the top selling album on iTunes US for 2 years in a?row,? News for Adele?s official website, Dec 13, 2012. http://www.adele.tv/news/430/adele-s-21-is-the-top-selling-album-on-itunes-us-for-2-years-in-a-row

8.?Lipshutz, Jason. ?PSY?s ?Gangnam Style? Becomes Most-Watched YouTube Video in History,? Billboard Magazine, Nov 24, 2012. http://www.billboard.com/biz/articles/news/tv-film/1082949/psys-gangnam-style-becomes-most-watched-youtube-video-in-history

9.?O?Malley Greenburg, Zack. ?The World?s Highest-Paid Musicians 2012,? Forbes, Nov 28, 2012. http://www.forbes.com/sites/zackomalleygreenburg/2012/11/28/the-worlds-highest-paid-musicians-2012/

10.??Music Biz 2012: A Look Back At A Tumultuous Year,? Billboard Magazine, Dec 14, 2012. http://www.billboard.com/print/1483916

Source: http://www.thembj.org/2013/03/ten-music-business-highlights-from-2012/

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