Tencent Music Entertainment had 88.5m paying users at the end of 2022, up 16.1% YoYTencent Music Entertainment Group has published its financial results for Q4 and the full year, ended December 31, 2022
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"Music Performance Trust Fund" Launches 75th AnniversaryThe recording industry’s Music Performance Trust Fund (MPTF), a leading non-profit organization enriching lives and uniting communities through the power of music, has launched its 75th Anniversary with new plans to expand initiatives and increase funding for live music performances in thousands of community events and senior centers, as well as Music in the Schools programs, scholarships, and more. 

Primarily funded by four major record companies, including Sony Music, Universal Music Group, Warner Music Group, and Walt Disney Records, the MPTF has also played a vital role in support of the music industry’s gig economy. The independently run organization has distributed millions of dollars in financial resources and grants, engaging professional musicians that are members of the American Federation of Musicians (AFM) to perform live in admission-free events across North America. Since its founding in 1948, it has distributed approximately $620 million (USD) in sponsorship money.

By partnering with businesses, chambers of commerce, arts councils, municipal government organizations and parks programs, the MPTF supported during the previous calendar year more than 1,200 concerts in parks and public spaces, 400 Music in the Schools events, over 1,000 performances in senior centers and assisted living facilities, and other special events. It also funded and facilitated more than 1,500 live virtual music events held free via MPTF’s Facebook platform since the early days of the pandemic. More than 1,000,000 people also attended MPTF-supported in-person and virtual events last year. 

With the live music sector continuing to rebound from the impact of COVID-19, the MPTF projects it will significantly increase support in the upcoming 2023-2024 calendar year, with funding of more than 3,500 live music events in 100+ markets in the U.S. and Canada, including $3.3 million (USD) in grants and scholarships. The organization additionally aims to fund over 500 music education programs in 2023-2024, through important partnerships with national and local organizations such as Save the Music, Young Audiences Arts for Learning, and more.  

Dan Beck

“As we launch our 75th Anniversary and celebrate this major milestone, the MPTF continues to evolve and successfully navigate the impact of COVID on live music by developing new initiatives, partnering with businesses and organizations, and streamlining operations, while expanding the breadth of our programs across North America,” said Daniel Beck, Trustee of Musicians Performance Trust Fund. “I’m also very pleased to announce that by the end of our fiscal year in March, we anticipate having funded a total of more than 3,000 events with a distribution of over $3.0 million in grants. MPTF will increase our allocations for the upcoming year by 33%, with financial support of $3.3 million in grants, plus $165,000 in scholarships.  This is the largest grant budget in twenty years.”   

While continuing to re-grow its free, live public music events, MPTF is also focusing efforts in several areas which have been affected by the pandemic or suffered setbacks from lack of funding, staffing, or government support. The trust fund will further expand its programs to foster music education and bolster its signature national Musicianfest initiative that brings the power of music to senior citizens, a segment of society which has been isolated more than ever, as well as strapped by fixed incomes, inflation, immobility, and the devastation from the COVID virus.    

Later this year, MPTF will announce new details related to several upcoming special events and initiatives. In April, the trust fund aims to support over 250 live music performances in celebration of Jazz Appreciation Month. The MPTF will also be partnering with local businesses and organizations in events celebrating Juneteenth, as well as anticipating support for the good work of the Chicago Lyric Opera, French Quarter Festival, the Make Music Alliance, and the Broadway League’s annual Curtains Up! event held in Times Square. 

Justin Trudeau, President, Prime Minister of Canada, released the following statement in support of MPTF: “MPTF’s work to spread its joy as far and wide as possible deserves the utmost praise. Furthermore, as a former teacher, I have seen firsthand the tremendous value of encouraging children’s participation in, and appreciation for, music. It makes an indescribable impact on their souls. To the entire team behind this incredible venture, please accept my gratitude for all that you do. Your commitment towards supporting musicians, making music a part of every child’s life, and adding to public knowledge about music, is unmatched.”

A minimum of $150,000 will be awarded to students in the Fall of 2023 through two scholarship programs, MPTF’s Music Family Scholarships and the Music’s Future Scholarship, which was established to help advance music majors. Over the previous year, more than 90 Music Family Scholarships were given to AFM musicians with family members attending college, while 30 Music’s Future Scholarships went to music students unaffiliated with the union.  

For more information on MPTF programs, live stream and in-person music events, and more, visit www.musicpf.org and www.facebook.com/the.mptf/ 

Twitch cuts over 400 roles amid widespread layoffs at parent company AmazonAmazon announced another 9,000 job cuts this week
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HEADRUSH® ACQUIRES AUDIO MEDIA RESEARCHinMusic, the global leader in music technology hardware, software, and consumer electronics, is proud to announce the acquisition of Audio Media Research (AMR) and the inclusion of AMR’s flagship ReValver amp modeling software in the HeadRush product line.

Audio Media ResearchTM (AMR), a leading developer of professional audio production software, is dedicated to creating software tools that help people make music. AMR leverages the latest in technology and software development to deliver professional audio software solutions that raise the bar for tone, realism, and innovation. AMR’s flagship ReValver® award-winning guitar amp modeling software sets the standard for amp modeling realism, dynamics, and tone.

inMusic is the parent company for a family of leading music technology and consumer electronic brands. inMusic’s world-famous, state-of-the-art research and development team responds dynamically to its customers with advanced technology and software ecosystems. AMR and its entire engineering department will now become part of inMusic’s R&D family, bringing their specialized knowledge and expertise to be supported by the resources and IP of the entire inMusic group. This new integration will see ReValver amp and effect content becoming available within future HeadRush products.

Michelle Teh appointed SVP, Global Classics and Jazz at Universal Music GroupExec returns to GCJ from UMG’s Global Priorities team
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Ryan MacTaggart, Gary ‘Bolo’ Sargeant and Michael McArthur promoted at 300 EntertainmentRyan MacTaggart upped to SVP, Artist Development & Lifestyle Marketing; Gary “Bolo” Sargeant to VP, Urban & Rhythm Promotion, and Michael McArthur to VP, A&R
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AllMusic Trivia: 50th Anniversary Albums - 19731973 was an incredible year for classic albums from Elton John, Stevie Wonder, Roberta Flack, the Stooges and more. In this round of AllMusic Trivia, we test your knowledge of the albums celebrating their 50th anniversary this year.

Last week in music industry commentaryLast week’s commentators in the thick of the industry shared their opinions and thoughts on the ultimate power of music fans; Spotify creates new opportunities for artists and more… Is. Continue reading
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