We’re only a few weeks into 2018, and the music business is already feeling optimistic about growth in revenue and the increase in UK breakthrough artists.
We’ve been gauging the mood of the biz in recent weeks on the best thing (part one and two) and the worst thing (part one and two) that happened in 2017. We’ve also discovered their favourite albums (here and here) and track of last year.
Of course, then there’s the ultimate question: What’s your biggest hope for the music industry in 2018? We’ve already heard from many industry figures – and now a dozen big names give us their answer…
David Joseph, chairman and CEO, Universal Music UK and Ireland
That the industry’s breakthrough artists achieve the recognition and success they deserve.
Frances Moore, CEO, IFPI
A legislative solution to the value gap – the mismatch between the value that user upload services, such as YouTube, extract from music and the revenue returned to the music community. We are making progress in Europe – watch this space!
Martin Bandier, chairman/CEO, Sony/ATV Music Publishing
That streaming services make good on their promise to credit songwriters on their sites and that songwriters are properly compensated by them. This is only right because, as we all know, everything starts with the song.
Jo Charrington, co-president, Capitol UK
We break more acts. I have a feeling 2018 is going to be a better year for that than 2017.
Geoff Taylor, chief executive, BPI & BRIT Awards
New European legislation that ensures artists and labels are fairly paid for video streams.
Mike Smith, MD, Warner/Chappell UK
Like all of us, I hope that the market continues to grow and that we continue to see more developing acts being broken. I hope that the issue of the value gap is finally resolved and that we can see income for songwriters and their representatives being protected and growing with the market.
Jane Third, global chief creative officer, PIAS
The end of the value gap. Big wish.
Michael Dugher, chief executive, UK Music
That the industry continues to pull together. Whether it’s getting through Brexit, safeguarding venues or addressing the value gap and transfer of value, we need to work together. The industry is doing so well at the moment and we need to make sure we’re taking decisions now to protect and nurture that for the future. And we need to make sure creators and investors are fairly rewarded.
Guy Moot, UK MD and president, worldwide creative, Sony/ATV
To produce more artists of calibre and not just hit singles. There is nothing wrong with hit singles, but it’s a different world now and it takes a lot longer to build an artist brand.
Ben Mortimer, co-president, Polydor
New UK acts reaching the global stage.
Henry Semmence, MD, Absolute Label Services
For YouTube to start paying a fair rate.
Duncan Scott, general manager, Black Butter Records
I hope that we break more UK acts in 2018. This year was a definite step forward from 2016, with DSPs and media really getting behind programmes to support new artists.
To read all the other execs on their big hope for the year ahead, click here and here.