COVID-19 wipes nearly $1 billion off song royalties

CMU’s Andy Malt and Chris Cooke review key events in music and the music business from the last week, including the 10.7% (or 775 million euros) drop in royalties collected by the song right collecting societies across the world as a result of COVID-19 in 2020, and the leaked UK government report that suggests that COVID passports might be counterproductive. SECTION TIMES 01: CISAC stats (00:03:39) 02: COVID Passports (00:20:50) (Timings may be slightly different due to adverts) STORIES DISCUSSED THIS WEEK • COVID caused 775 million euro drop in song royalty collections in 2020, CISAC confirms • Leaked government report warns that COVID passports could drive up infections ALSO MENTIONED • Dave Grohl comments on Nirvana baby lawsuit: “He’s got a Nevermind tattoo. I don’t” MORE FROM CMU • Buy MMF and CMU Insights’ Dissecting The Digital Dollar book on Amazon • Sign up to receive the CMU Daily news bulletin