Music Publishing News Weekly Roundup 8.21.14: YouTube Music Key, Vevo, Old Crow Medicine Show
Youtube and Google will partner to launch new “Music Key” subscription based music streaming services. Youtube will launch Youtube Music Key and Google will re-brand their existing service to Google Play Music Key. Youtube’s service will be $9.99/month after a 1 month free trial and will consist of over 20 million high – quality tracks. Listeners will be able to stream ad-free, audio-only music and will have access to full artist discographies. They will also be able to access covers, concert footage, and remixes. This is something that most competitors cannot currently offer. The official launch date for the service has not been announced.
Owners of Vevo have decided not to sell. Current stakeholders have decided to continue development in house and remain independent. The music video streaming site owned by Universal Music, Sony Music Entertainment, Google and the Abu Dhabi Media Group has seen vast growth since launching in 2009. Specifically, the site had 227 million viewers around the world since December 31st, 2013 and stands as the 5th largest web destination behind sites like Google and Facebook. Expected revenue in 2014 is estimated at $350 million.
Downtown Music Publishing Group has signed Old Crow Medicine Show to a worldwide publishing agreement. The grammy award winning group most famous for their song “Wagon Wheel” inked the deal this week that covers their 5 studio album. Their latest effort Remedy was released July 1st via ATO Records.