Sports and entertainment spotlight: No sooner has Kobalt Music Publishing pulled 700,000 song catalog from Facebook and Instagram than Meta announces its newly adopted ad revenue sharing model for musicians | Foster Garvey PC

Welcome back to the Spotlight. Rest assured, I used perhaps one of the greatest inventions in human history—central air conditioning—to beat last week’s heat wave in New York. So I feel the pain of my colleagues in the Pacific Northwest, where the air usually doesn’t require air conditioning. Clouds and rain in Seattle probably sounds pretty good right now. Anyway, for those who want to hide inside, I have a shameless, unashamedly nepotistic gag for all nine of you readers: my cousin Nina Bloomgarden stars in the Peacock series, “The Resort,” which debuts tonight. If that’s not enough, my other cousin (Nina’s sister) Gabriella should be featured as a performer in Walker: Independence. All of which means that Bloomgardens’ entertainment industry garden is, well, blooming. So, to paraphrase Chef Brody from Jaws, “you’re going to need a bigger spotlight.”

  • Only after Kobalt Music Publishing pulled its 700,000-song catalog from Facebook and Instagram services did Meta Platforms announce that it was finally adopting an ad revenue sharing model for musicians whose songs are used in user-generated content (UGC ) – the first of its kind among social media platforms. Assuming this is a negotiation tactic from Kobalt, it’s the B2B equivalent of unfriending a person in the hopes that they’ll start paying attention. Now would be a great time to stream ‘NSYNC’s “Bye, Bye, Bye” if it weren’t for the fact that the rights to this song are administered by Kobalt.
  • It’s not often that a law firm enters into an endorsement deal with a professional athlete. [Redacted]The decision to cut ties with a professional golfer joining the Saudi-backed LIV Golf organization highlights exactly why this is so rare. Even rarer? A law firm supporting another law firm.
  • American sprinter Fred Kerley joins forces with sportswear startup CXP. Cross your fingers and toes that CXP unveils the motto “the underwear that keeps you going.”

Endorsement, sponsorship and investment deals

LIV golfer’s lost sponsorship shows risks of law firm endorsements
27 July 2022 via Sportico (subscription may be required)
A day after LIV Golf announced that American golfer Jason Kokrak was joining the fledgling league, Kokrak lost an endorsement deal with international law firm Cozen O’Connor.

American sprint star Fred Kerley invests in sportswear brand CXP
27 July 2022 via East Midlands Business News
A start-up sportswear company founded during the coronavirus lockdown has agreed a deal with global sprint superstar Fred Kerley to be its new shareholder and adviser.

Fanatics, Alabama Ink Company’s most comprehensive college deal
25 July 2022 via Sportico (subscription may be required)
Fanatics has signed a wide-ranging partnership with the University of Alabama, the latest deal to cap the company’s rapid expansion into new businesses.

Tax Consequences When NCAA Student Athletes Make Money
July 21, 2022 via Yahoo Finance
This is the first academic year that NCAA student-athletes have been able to earn money for their achievements and popularity.


Sports

Penn State setback in retro trademark lawsuit could shake up sports industry
25 July 2022 via Sportico (subscription may be required)
Trademark law struck down the name changes of the Washington Commanders and Cleveland Guardians, and now a new court decision is challenging long-standing assumptions about trademark protection for logos, symbols and other marks that distinguish sports teams.

Stephen Curry Unanimous Media and Talent Resources Sports Host Star Studded Night Presented by FTX
July 22, 2022 via PR Newswire
Stephen Curry and his media company Unanimous Media along with Talent Resources Sports (TRS), Premier Sports Marketing Agency, joined forces to create a star-studded after party.

Public scrutiny is growing over UCLA’s planned move to the Big Ten
22 July 2022 via Sport Business (subscription may be required)
The UCLA Board of Regents said it will carefully review UCLA’s planned move from the Pac-12 Conference to the Big Ten Conference and intends to release a public report on the impact of that change on the rest of the UC system.


Music business

Music publisher downloads catalog of 700,000 songs from Facebook, Instagram
July 27, 2022 via Channel News Australia
The publisher of Foo Fighters, Paul McCartney, Lorde, Beck and countless other artists has pulled its 700,000-strong catalog from Facebook and Instagram after failing to meet royalty terms.

Meta is shaking up the music industry with a new revenue-sharing deal
Jul 26, 2022 via Techradar
Meta, Facebook’s parent company, has unveiled a new monetization feature that seeks to share revenue between music artists and content creators on the social media platform.

Former Hendrix bandmates still can’t drop Sony’s copyright lawsuit
Jul 20, 2022 via Law360
A federal judge in New York has denied Sony’s copyright lawsuit against former bandmates of the late guitarist Jimi Hendrix over music licensing rights, ruling that the pending jurisdictional disclosure could affect the outcome of the case but limits Sony’s bid.


Movies and TV

TikTok’s parent company has filed to trademark streaming app ‘TikTok Music’, which could bring it into greater competition with Spotify and Apple Music
July 27, 2022 via Markets Insider
ByteDance, the parent of TikTok, has filed for a trademark for a service called “TikTok Music.” The Service may include an application for users to purchase, play, share and download music.

The National Football League’s new NFL+ streaming service is starting at $4.99 a month
July 25, 2022 via CNBC
The National Football League now has its own streaming service. Premiering Monday, the NFL is launching NFL+ for $4.99 per month or $39.99 per year.

FC Barca are said to be selling a further stake in TV rights to Sixth Street
July 21, 2022 via Bloomberg Law (subscription may be required)
Barca, the European soccer club officially known as FC Barcelona, ​​has reached an agreement to sell an additional stake in the La Liga team’s media rights to private equity firm Sixth Street, according to a person familiar with the matter.

Lacrosse league attracts new funding from WWE, Kevin Durant
July 21, 2022 via Bloomberg (subscription may be required)
Major League Lacrosse has raised a new round of funding with new investors including World Wrestling Entertainment Inc. and Kevin Durant’s venture fund as it looks ahead to a new tournament and bigger media ambitions.


Non-Fungible Tokens (NFT)

Is the NFT boom over? Trading volumes hit a 12-month low
July 27, 2022 via Crypto Briefing
The summer of 2021 saw an explosion of interest in NFTs. One year later, trading volumes in the NFT market have fallen. Key Takeaways NFTs are struggling to maintain the parabolic growth they experienced during the bull market.

Madonna on ‘Ride or Die’ Guy Ossery, the bored monkey who got away and her upcoming biopic: ‘Nobody’s gonna tell my story but me’
July 27, 2022 via Variety
Madonna bonded with the man she calls “ride or die” the same way most people bond: through late-night walks, long talks — and no small amount of mischief.

Biggie Smalls NFT Collection Sells Out in 10 Minutes, Owners Get Licensing Rights to Unreleased Freestyle
July 27, 2022 via Crypto News Australia
The Christopher Wallace Estate, managers of the music, fashion, film and unreleased archives of the Notorious BIGs, released a collection of NFTs that sold out in ten minutes.

Bill Murray’s Coinbase NFT Drop Provides Blueprint for Future Celebrity Startups
July 25, 2022 via Forbes (subscription may be required)
Last week, in collaboration with the online community theCHIVE and its branding subsidiary Project Venkman, actor and comedian Bill Murray successfully launched the first edition of his Bill Murray 1000 NFT collection.

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