The Label Machine Podcast #36 Darryl Ballantyne
Exploring the Evolution of Lyric Licensing and Music Tech: Insights from DarrylIn an interview with Darryl, an industry leader in lyric licensing and music tech, we dive into how the landscape of music rights and royalties is changing, and how innovative technologies like AI and video creation tools are shaping the future for artists, labels, and fans alike.Lyric licensing has evolved over the years, with companies like LyricFind paving the way for new revenue streams through services like Lyric Merch. This on-demand merchandising service allowed publishers to license song lyrics for custom merchandise. However, the challenge of enforcing rights in an increasingly fragmented marketplace of platforms like Etsy and Redbubble led to the transition of Lyric Merch into a licensing model that works with businesses like Lithographs, which makes merchandise based on literature and lyrics.As Darryl points out, while lyric merchandising faces challenges in enforcement, the broader music industry continues to grow, fuelled by streaming services and direct-to-consumer access. Today, more people are spending on music than ever before, thanks to affordable streaming subscriptions, which have replaced traditional physical formats. This shift has made it easier for independent artists to break into the market without needing a major label.The rise of AI-driven technologies, such as stem separation tools, also opens up new opportunities for karaoke and lyric synchronisation. While karaoke companies historically used re-recorded tracks to avoid paying for the original master’s licensing, advancements now allow for the use of actual masters. This makes it easier to integrate lyrics into digital karaoke services. However, the publishing rights for karaoke remain a different sector, with publishers avoiding cannibalising existing revenue streams from traditional karaoke.Looking to the future, Darryl foresees continued growth for lyric licensing, particularly through the synchronisation of lyrics with video content. With more artists focusing on video as a key promotional tool, LyricFind is investing in products like Rotor to help artists create dynamic visual content and leverage the power of lyrics in videos. The advent of autonomous driving will also create more opportunities for in-car entertainment and music engagement.For independent artists and labels, the key takeaway is that while the business model has changed, the opportunities for growth are abundant. Technology and streaming services have made music more accessible, and platforms like LyricFind continue to evolve to meet the needs of modern music creators.To explore more, independent artists can visit lyricfind.com for licensing information and tools like Lyric IQ, which analyses song lyrics for trends, moods, and themes. For video creation, RotorVideos.com offers tools for generating promotional content with synchronised lyrics. The evolving role of lyric licensing shows that while the industry is changing, the possibilities for innovation and revenue growth are still vast.
New Zealand