TikTok Launches SoundOn To Help Music Artists Monetize Songs on the App - dot.LA

  Get in the KNOW  
  on LA Startups & Tech  
Christian Hetrick is dot.LA’s Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Sign up for dot.LA’s daily newsletter for the latest news on Southern California’s tech, startup and venture capital scene.
Social media giant TikTok has turned little-known musicians into mainstream stars by boosting the popularity of their songs. Now, the Culver City-based company is giving artists a new way to monetize their music through the video-sharing app.
On Wednesday, TikTok unveiled SoundOn, a platform that lets artists directly upload their music to TikTok and earn royalties when their songs are used in videos. SoundOn also lets artists distribute their music on Resso—a streaming service owned by TikTok parent company ByteDance—as well as major streaming platforms such as Apple Music, Pandora and Spotify.
“We’re incredibly excited about how this will surface and propel new talent and how SoundOn will contribute to an increasingly diverse and growing global music industry,” Ole Obermann, Tiktok’s global head of music, said in a statement.
SoundOn will pay 100% royalties to artists for music used on ByteDance-owned platforms for an “unlimited time,” according to its website. For music used on other platforms, artists will receive 100% royalties during the first year and 90% after that. SoundOn is currently not charging any distribution fees, it said.
TikTok said the platform is aimed at building the careers of new or unknown artists. The video-sharing app has become a hub for music discovery, with songs both organically gaining popularity and becoming hits through influencer-driven marketing campaigns.
“TikTok creators are the lifeblood of our platform and the reason sounds become hits,” SoundOn’s website notes. “If all goes well, your track might even become a viral trend on TikTok and beyond.”
Christian Hetrick is dot.LA’s Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Christian Hetrick is dot.LA’s Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
An admittedly “challenging” first quarter highlighted social media giant Snap’s exposure to ongoing disruptions in digital advertising.
The Santa Monica-based company, which generates virtually all of its revenue from ads, reported first-quarter sales on Thursday that narrowly missed Wall Street’s expectations, despite adding more users than analysts predicted. Snap executives blamed its lagging ad business on a difficult “macroeconomic environment,” as well as the lingering fallout from Apple’s privacy policy changes on mobile devices.
“The first quarter of 2022 proved more challenging than we had expected,” CEO Evan Spiegel said on Snap’s earnings call Thursday. “While we are pleased with our progress given the macroeconomic environment, we also recognize that we have a significant amount of work to do to realize our long-term opportunity.”
Snap reported revenues of $1.06 billion from January through March, a 38% improvement from a year earlier. Daily active users jumped 18% year-over-year to 332 million. After reporting its first-ever profitable quarter to close 2021, Snap lost $360 million during the first quarter of this year, compared to a $287 million loss in the year-earlier period.
The company acknowledged that economic headwinds from factors like inflation and Russia’s invasion of Ukraine may not go away soon. The operating environment ahead “could be even more challenging, leading to further campaign pauses or advertiser budget reductions,” Snap CFO Derek Anderson said.
Snap is still grappling with Apple’s decision to restrict how users are tracked on mobile devices. Beginning in April, Apple allowed consumers to opt out of tracking by software apps, making it harder for them to effectively target users with ads. Snap chief business officer Jeremi Gordon said the social media firm is working to convince advertisers to use Snap’s improved ad measurement tools, developed in the wake of Apple’s privacy changes, to prove their campaigns are effective without the availability of users’ personal information.
The company is also contending with the rise of TikTok, the Culver City-based video sharing app that was the most visited website in the world last year. TikTok recently surpassed Snapchat as the most popular social media app among teens, according to the latest annual survey from investment bank Piper Sandler. TikTok is also expected to generate more ad revenue than Snapchat and Twitter combined this year, Insider Intelligence researchers recently predicted.
If TikTok is taking a bigger slice of advertising budgets these days, it at least inspired one of Snap’s fastest growing features. The company’s TikTok-like short form video feed, called Spotlight, has seen total time spent by users increase 230% year-over-year. Snap has started testing ways to insert ads on Spotlight, executives on the call said.
But Snap’s most ambitious advertising push remains in augmented reality. Some of its bets in that space are already paying off, such as features that let people virtually try on clothes with their smartphones.
“We found that by partnering with retailers and fashion brands, we can actually use their real products in augmented reality,” Spiegel said on the call. “It dramatically improves conversion for those businesses and so can lead to higher sales.”
Christian Hetrick is dot.LA’s Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA’s Daily Bruin.
Meta Platforms chief operating officer Sheryl Sandberg extinguished two articles about her controversial ex-boyfriend, Activision Blizzard CEO Bobby Kotick, the Wall Street Journal reported Thursday.
Sandberg allegedly contacted MailOnline—the Daily Mail’s digital edition—in 2016 and 2019 to quash stories unearthing a temporary restraining order against Kotick. The restraining order was supposedly issued in March 2014 after Kotick harassed his ex-girlfriend at her home, and it was dissolved in April of that same year.
Sandberg and Kotick, who dated for three years, reportedly tapped employees from both Facebook and Activision, along with lawyers and public relations advisors, to construct a plan to stop both stories from being published, according to the WSJ. Sandberg and her team are said to have been concerned about how the stories would impact the “Lean In” author’s status as a supporter of women in the workplace.
Facebook initiated a review into whether Sandberg broke company policy after the WSJ began reporting on the matter, according to the publication. Both Kotick and a Meta spokesperson denied the WSJ’s report.
The claims come as Activision has faced mounting controversies under Kotick’s leadership. Last month, three women called for the CEO to be fired after detailing alleged sexual harassment at the Santa Monica-based video game company. Activision employees also staged a walked out last year, after the WSJ reported that Kotick knowingly did not inform Activision’s board of directors about a sexual assault settlement involving the company.

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA’s Daily Bruin.
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Samson is also a proud member of the Transgender Journalists Association. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him
Web3 startup Afterparty has raised $4 million to launch an NFT-based ticketing platform for live events, with plans to use its Utopian NFTs as event tickets after a trial run at a Las Vegas music festival last month.
Afterparty landed the new capital—which it described as an extension of its $3 millions seed round from last fall—from more than two dozen investors, including angel investors like Paris Hilton and Jason Calacanis and VC firms like early-stage crypto fund Blockchange. Existing investors Acrew Capital and TenOneTen Ventures also participated. (Disclosure: dot.LA co-founder and chairman Spencer Rascoff is an investor in Afterparty and contributed to the round.)
Afterparty has now raised $7 million in total funding since launching in August 2021, co-founder and CEO David Fields told dot.LA. Fields, a former executive at Michael Eisner’s investment firm The Tornante Company, said Afterparty is “building technology to enable creators and music artists to build direct connections with their fans and realize the full potential of Web3.”
The startup trialed its NFT ticketing technology in Las Vegas last month, at what it called the “first NFT-gated festival ever”—meaning nobody could get in unless they owned one of Afterparty’s Utopian NFTs or were a guest of an NFT holder. Fields said over 6,000 people attended the event.
The Utopian NFT collection features 1,500 pieces of art depicting headshots of futuristic, cyberpunk-esque robots. On NFT exchange OpenSea, the NFTs are listed at prices ranging from 5.35 ETH (roughly $16,400) to 50 ETH (upwards of $153,000).
Owning one of these NFTs—some of which the company minted earlier this year at a party at its Afterparty House in the Hollywood Hills—comes with perks, including access to future Afterparty festivals. Afterparty is now planning a Los Angeles festival for this coming October—with access coming through its upcoming Guardian NFT collection, which will provide holders with “lifetime festival membership,” it said.
Afterparty’s venture into event ticketing is an attempt to disrupt services like Ticketmaster, which often charge hefty transaction fees. Local startups like Granted, which raised a $3 million seed round this February, are also looking to use cryptocurrency and NFTs to wrest power away from ticketing brokers.
Fields noted that blockchain technology also makes it impossible to scalp an NFT ticket. He added that Afterparty is involved in discussions with other festivals interested in integrating its NFT ticketing system, but wouldn’t disclose specifics.
“The ability to buy a ticket every subsequent year… if you had that in the first year of Coachella or the first year of Burning Man, that would be something that’d be really valuable,” Fields said.
Afterparty also plans to allow music artists to mint their own NFTs through the company and use those as tickets for their own events and festivals.
“Collectively, [artists] get 0% of secondary sales today,” Fields said. “$10 billion-plus of global secondary sales in concerts are going to other parties, and I believe NFTs are going to be a really big part of the story about how artists and venues can recapture a lot more of the value in that market.”
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Samson is also a proud member of the Transgender Journalists Association. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him
© dot.LA All rights reserved

source

Leave a Reply

Your email address will not be published. Required fields are marked *