How Do I Book a Charter to Fantasy Island?

The client doesn’t always know what they want.  Until they see it!  On January 14, 1977, the U.S. TV viewing audience saw what they wanted.  In the decade that Americans endured the U.S. oil crisis, and the end of the Vietnam War and the Nixon presidency, ABC and Writer Gene Levitt bet that people were ready for an escape.  They were right. 

Numbers tell a story and you can’t argue with success.  The original Fantasy Island series spanned seven seasons, included a star studded list of Oscar and Emmy nominated and winning talent, and sealed in history the catchphrase “The Plane! The Plane!”   How did they pull it off?  It was the strong moral code of mysterious host Mr. Roarke and the supernatural forces on the island that drew the viewer in.  Each guest, who paid a substantial fee specific to their socio-economic situation, was destined to learn a life lesson following some unexpected turn in their fantasy.    

Making a bet once again, in a country clamoring for truth and justice, and still reeling from the worst year in U.S. history, Fox Networks Group has given a straight-to-series order for a contemporary version of the classic drama series.  This follows the box office success of the February 14, 2020 release of “Fantasy Island” the movie, with an opening weekend of $12.3 million, and a gross worldwide to date of $48.8 million on a production budget of $7 million.  

The new series is slated to air in 2021 with Sony Pictures’ newly created Gemstone Studios leading the charge.  A boutique label dedicated to premium independent production in a creative and efficient way, the plan is to co-produce with Fox Entertainment.  Veteran Sony Pictures Entertainment creative exec Marie Jacobson, tapped to lead Gemstone last year, along with venerable Writer-Producers Liz Craft and Sarah Fain will lead the creative effort.

While it hasn’t appeared in IMDB Pro as of this writing, I’m certain Jacobson, Craft, and Fain are neck deep in script development.  To all my TV writer friends, perhaps this is your opportunity to pitch an episode! 

As for the rest of us, what is your fantasy for 2021?  Remember creativity will drive ROI and the sky is the limit.  Good luck!

My Personal ROI – what’s yours?

Folks ask me what I mean by my “personal ROI” – where do I get my energy that fuels pursuit of my dreams and goals.

I start my day centered on my passions, as that’s my best shot for achieving meaningful ROI.  At 6:30am I begin with gentle stretching, then launch into my stomach-crunch and pushups circuit.  Thank you to the Infiniti Elite team for that!

I walk into the living room and greet Alexa, initiating my “Cynthia Morning” routine on my Amazon Echo.  Alexa tells me my calendar for the day, followed by the Wall Street Journal (WSJ) morning briefing.  My energy soars as Guns N’ Roses “November Rain” plays.

Gymnastics, finance, and Rock&Roll.  I’m ready to start my day!

Tuesday morning I was struck by two stories in the WSJ brief, “Dow Falls but Holds on for Best Month in Over Three Decades” and “Coronavirus Stimulus Talks Restart as Centrists Unveil Plan.”

I’m proud and hopeful on the stimulus discussion, as I’ve been involved for ten years with the bipartisan group of lawmakers from No Labels, who are rolling out a $908 billion aid proposal, a compromise seeking middle ground between Democratic and Republican leaders.  I firmly believe all goals are possible, simply a question of how or when.

As to record stock market levels, I appreciate that not all may share my glee. The global pandemic has upended many industries and lives.  But I also know that with determination and creativity, opportunities present when the ground is shifting and the stakes are high.  Focus on product and service you know well, and find the best people to grow that business, while also managing the P&L.  That’s how you achieve the best possible ROI!

I’ve been managing P&Ls my whole career, across capital markets, technology, and music.  I firmly believe in metrics-driven decision making.  You need passionate and determined finance people with the ability to discern keen analytics to drive enduring revenue growth and sustainable cost management.

Managing the P&L can take many forms.  Executives are under extraordinary pressure to manage the quarterly earnings report.  While investment in product and service is essential to long term value and customer satisfaction, the executive team is faced with the dilemma of explaining the path to meaningful shareholder wealth, amid quarterly net P&L swings.

How do you plan to achieve your best ROI?

Let’s Get This Plane Airborne Again!

As my aviation expert brother says when he’s conquered a difficult challenge, and he’s conquered many, “I flew the airplane out of the hangar!”  I pray that you and your family are healthy, that you’re washing your hands often, and that you’re practicing social distancing.  If you need anything, prayers or otherwise, please let me know.  We are all in this together.  And yes we are in unprecedented times.  The novel Coronavirus COVID-19 pandemic has grounded planet Earth.  Let’s do what we can to get this plane airborne again!

Where do we begin?

  1. Improve communication and engage in collaborative thinking.
  2. Think big!
  3. Innovate in manufacturing and supply chain management.
  4. Ramp up testing and delivery of existing possible therapies such as remdesivir.
  5. Create effective public or private sector management of health resource allocation.
  6. Encourage bold economic support to infuse massive liquidity to individual Americans, medical centers, regional governments, and small and big business.
  7. Initiate a call to action for Bi-partisan problem solving.  Yes I’m serious. Problem Solver Caucus Health Crisis Economic Revival Package

Above all, my money is on the remarkable resiliency and creativity of the American people.  Yes it’s a mind numbing situation.  But when the ground is shifting and the stakes are high, new opportunities present.  In this week’s post, my goal is to frame the magnitude of this complex situation and offer insight into the evolving game plan.  Knowledge is power and understanding the scope will make it more manageable.  Many things need to happen to right the ship.  Figure out how you can help.  If you see an opportunity, jump on it!  Volunteer and connect with new people.  Always operate from a place of integrity.  Have fun!  Let’s do this!

Thank you to all the incredible healthcare and scientific professionals across the United States and our world, working tirelessly on our behalf, in particular those at University of Nebraska Medical Center and Mount Sinai HospitalYou are our angels!

While the health of the $22 trillion U.S. economy hangs in the balance, I’m grateful for the extraordinary leadership of the U.S. Federal Reserve.  I worship the ground upon which U.S. Treasury Secretary Steve Mnuchin walks.  I pray for our elected and appointed officials in Washington and thank them for working incredibly long hours to deliver medical and economic solutions to this global pandemic.  Thank you to  California Governor Gavin Newsom, San Francisco Mayor London Breed, and Los Angeles Mayor Eric Garcetti for taking bold action and leading the country by issuing the first stay-at-home orders.  This is our best chance to flatten the curve, minimize loss of life, and guide our economy to a soft landing.  Check your Social Distancing score.

Numbers tell the truth.  Numbers inform us.  And the line in the sand keeps moving.  All figures and information reported were as of Thursday March 26, 2020 at 2:30pm PST, except as noted.  The disease figures were sourced by Microsoft COVID-19 Tracker Globally there were 509,427 reported cases of COVID-19, with a fatality rate of 4.5% or 23,004 souls.  In the U.S. there were 81,996 reported cases, the most of any country in the world, surpassing China with 81,285 cases and Italy with 80,589.   The U.S. fatality rate was 1.4% or 1,177 souls.  Trends in China and Italy demonstrate that the virus is killing more men than women.  Story here.

The epicenter in the United States is New York,  with 37,258 cases and a fatality rate of 1.0% or 385 souls.  The rate of acceleration, currently doubling every three days, is expected to grow exponentially in the coming weeks.  New York City is under siege as the supply of necessary equipment has not yet met demand, with ventilators the chokepoint. Governor Cuomo advised that New York City needed 15,000 ventilators on March 25, 2020.  When the rate of acceleration shifts to another state, he has committed to ship them accordingly.   Projected hospital bed demand has increased from 110,000 to 140,000, from a current inventory of 53,000.

California reported 2,617 cases with a fatality rate of 2.1%, more than double New York’s fatality rate of 1.0%.  Both states’ rates have been fairly consistent, but there may be timing differences in reporting.  L.A. County Director of Public Health Dr. Barbara Ferrer reported that 18% of cases were currently hospitalized and 51% of cases fall within the 18 – 49 year age bracket.  The pace of new cases in L.A. County essentially quadrupled overnight, bringing the total to 1,216 confirmed cases.

Louisiana’s virus rate is currently growing the fastest in the world, driven on the recent Mardi Gras celebrations. Louisiana on lockdown.  San Francisco start up Kinsa Health, that records and shares temperature readings from their newly developed thermometer, suggests that Florida will be the next hot spot.  More on smart thermometer.

In the long run, initial estimates were that 70% of the United States’ 320 million citizens are projected to contract the Coronavirus through the year 2022.  It’s important to note that a vaccine is expected to be available in 2021 and 2022.  In the first year though, it’s projected that a minimum of 25%, or 80 million Americans will contract the virus.  At an expected 3% mortality rate, that’s 2 million American souls projected to lose their life to COVID-19 in the first year.  If we lower the projected mortality rate to 1%, then we’re looking at 800,000 souls.  The U.S. government’s foremost infection disease expert Dr. Anthony Fauci issued a new projection Sunday morning March 29, putting the figure at between 100,000 – 200,000 souls, but adding, “I don’t want to be held to that”.

And now we move to the economic picture, equally sobering, although with some encouraging news as the street appears to have embraced the pending $2.2 trillion stimulus plan, expected to pass in the U.S. House of Representatives Friday.  Of course, volatility will continue.  We are in uncharted waters.

The week began with the Dow Jones industrial average closing at a record low of 18,213.65 on Monday March 23, down (11,354.92) points (38.4%) from a record high of 29,568.57 only 27 trading days earlier.  About 3.4 million Americans filed new unemployment claims the week ending March 20, 2020.  EPI’s Aaron Sojourner on unemployment.  That figure is projected to reach 14 million by the summer.

Also on Monday March 23, the New York Stock Exchange took the unprecedented action of closing the trading floors temporarily, and initiating fully electronic trading.  This was done to ensure the safety and health of floor employees, as well as the ongoing functioning of the U.S. equity markets.  This was the first time in the NYSE’s 228-year history that the floors to the exchange were closed while markets were open.  NYSE Announces All Electronic Trading  NYSE Floor Closure FAQ

As Capitol Hill continued to struggle amidst deep partisan mistrust and ideological divide, tasked with putting into motion the largest economic legislation in U.S. history, totaling an estimated $2 trillion, the U.S. Federal Reserve in bold and unprecedented fashion, committed to an additional $4 trillion cash infusion.  This brought the total cost of U.S. economic relief to $6 trillion, to weather the storm caused by the necessary temporary shutdown of the $22 trillion U.S. economy, at the hands of the COVID-19 virus.

Following signs that Capitol Hill was indeed close to passing the stimulus plan, the DJIA surged 2,113 points or 11.4% on Tuesday, the largest one day gain since 1933.  The climb continued on Wednesday and Thursday, up more than 20% from its recent low, a move that starts a new bull market.  This defined the shortest bear market in the index’s history.  The DJIA closed  at 22,552.17 Thursday, up 23.8% to the recent low of 18,213.65 just four days earlier. The S&P 500 closed at 2,630.07, up 20% from the low on Monday.

Gains on Thursday were broad, with all 11 sectors of the S&P 500 up for the day.  DJIA heavyweight Boeing continued its surge Thursday, rebounding 75% in in just five days to close at 180.55.  Similarly, airlines and aerospace have rallied somewhat, expecting to be major beneficiaries of the stimulus package.  Energy stocks, one of the worst-hit groups in the sell-off last week, have also risen from their lows, in anticipation of increased demand when people return to their usual way of life.  Global Stock Market Update March 26, 2020

The corporate bond market, sent reeling over concerns of a liquidity crunch, has improved for blue chip corporates on the extraordinary interventions by the U.S. Federal Reserve.  Story here.

Yields on the safest, short term Treasuries closed in negative territory for the first time in more than four years.  Negative yields on Bonds in Europe and Japan have become commonplace, where central banks use negative policy rates to spur growth.  The U.S. Federal Reserve has all but ruled out that practice.  Story here.

J.P. Morgan has issued a new 2020 GDP forecast.   U.S.: -4% Q1, -14% Q2, +8% Q3, +4% Q4; Euro area: -15% Q1, -22% Q2, +45% Q3, +3.5% Q4.   J.P. Morgan Global Research Coronavirus

Late Wednesday evening, at ten minutes to midnight in the nation’s capital, the United States Senate passed the 880 page $2.2 trillion U.S. Senate Act H.R. 748 Coronavirus Aid, Relief, and Economic Security Act, or simply CARES Act, by a vote of 96-0, with four U.S. Senators in self-quarantine.  House Majority Leader Steny Hoyer announced a “voice vote” to approve it in the U.S. House of Representatives Friday morning.  Story here.

How long will stimulus be needed and how long can the U.S. Treasury float the $22 trillion U.S. economy?  The total current commitment of $6.2 trillion suggests Mnuchin is forecasting a minimum of three months.  As the U.S. Treasury has already begun putting the wheels in motion for efficient distribution of funds, and with the expected passage of H.R. 748 in the House Friday, the only remaining hurdle should be how quickly the U.S. can contain the spread of COVID-19.  If we struggle in that regard, then we should be prepared to issue more stimulus.  Why $2 trillion could just be the start.  As to the latter question, the economists are running the models now to determine that answer.

So what did the American taxpayer get for all this money?  Please note summary highlights of the three bills passed to date.

In order to expand the U.S. society’s ability to respond to the epidemic, Congress passed an $8.3 billion emergency funding bill (Public Law 116-123), which was signed into law by the President on March 6, 2020.  This law includes funding to develop and test coronavirus vaccines, support state and local health departments and hospitals, and better equip health care workers on the front lines of this pandemic.

Congress also passed a $100 billion Families First Coronavirus Response Act (Public Law 116-127), developed by House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin, which was signed into law by the President on March 18, 2020.  Among other benefits, this law provides paid sick leave during public health emergencies, additional funding for unemployment benefits, meals for vulnerable Americans, and free coronavirus testing for everyone in America.

Key Provisions in the U.S. Senate Act H.R. 748  $2.2 trillion CARES Act: 

  1. The $2.2 trillion stimulus will dwarf the $700 billion “TARP” legislation enacted near the height of the 2008 economic collapse.
  2. Direct cash payments to all Americans with Treasury Secretary Mnuchin committing to a three week delivery time from March 25, 2020. Most individuals will receive a $1,200 check plus $500 for each dependent child.  The amounts are less for people who made more than $75,000 in 2019, and are zero for those earning $99,000 and above. Washington Post Stimulus Check Calculator
  3. Expanded unemployment benefits for those who qualify, with an extra $600 a week for up to four months. Significant expansion to include self-employed workers who file a Schedule C.
  4. $367 billion small business loans (<500 employees), including Not For Profit entities, with loan forgiveness for businesses that keep employees on payroll.
  5. $500 billion to large businesses, cities, and states. Required to offer collateral.  C suite will not be permitted to buy back stock, and there will be incentives to keep employees on payroll.
  6. $425 billion “Slush Fund”, to be distributed to businesses at discretion of U.S. Treasury. A new entity within the U.S. Treasury will be created, with a required special reporting mechanism for transparency and accountability.
  7. $130 billion to hospitals who have lost revenue on elective surgeries.
  8. $75 billion supplemental funding for the National Endowment for the Arts, which will provide employment for creatives.
  9. Retirement Accounts: Waiver of the 10% penalty on early withdrawal retirement savings up to $100,000. Loan amounts permitted on 401k doubled to $100,000.
  10. Increased short term food support (SNAP), child care, and aid to farmers.
  11. No funds to Trump businesses.
  12. Alternative Minimum Tax (AMT) credits to offer liquidity and Net Operating Loss provisions.

There may be some minor changes before the House votes on this bill Friday, but all of the major provisions detailed above will likely stand.

Well that was a mouthful.  Now how exactly will you and I get the plane airborne again for America broadly, and for each of us individually?  First and foremost, please continue to practice social distancing, wash your hands often, and take care of your health.  Please review the key provisions spelled out directly above.  If you have any questions, please reach out.  This will be the first in a series intended to inform and collaborate.

I really want to encourage you to learn more about No Labels and the Problem Solver Caucus in the U.S. House of Representatives.  Comprising 48 members the caucus is equally divided between Democrats and Republicans, committed to forging bipartisan cooperation on key issues.  The caucus is co-chaired by Congressman Josh Gottheimer (D-NJ) and Congressman Tom Reed (R-NY).  Problem Solver Caucus Health Crisis Economic Revival Package

As I reflect on all that has transpired over the past eight weeks, and particularly as an analyst who runs forecast models for a living, it’s clear that I underestimated the power of geo-political risk in a nation where un-truths and venom are spewed back and forth with such velocity, across deep ideological divides, that it’s now costing lives and financial savings.  Let’s do something about that please.  Let’s be role models for open, constructive, truthful debate!  Let’s cheer each other on and deliver the America we aspire to be!

2019 was a good year for me.  I hope and expect the same was true for you.   I’m looking to build on my success and wish the same for you!  While the next quarter will certainly be rough, all the forecasts suggest we can rebound in the third quarter.  Be safe.  Be well.  Let’s make it happen!

Always true to my brand, and forever bullish on the incredible healing power of music, I’d like to lead you out with not one, but two musical pieces. Enjoy!

Famous Album Covers Promoting Social Distancing

John Lennon’s Imagine

 

 

 

Addendum of Coronavirus helpful links and resources:

Los Angeles COVID-19 Testing Qualification

L.A. Small Business Coronavirus Relief Package

LinkedIn Who’s Hiring Now

Songwriters of North America Emergency Resources

Grammy Recording Academy Musicares Relief Fund

Fender Free Guitar Lessons

 

Guns N’ Roses in Hong Kong and South Africa!

2018 was definitely a bucket list year!  On May 21 Guns N’ Roses announced their Fall 2018 Asian tour.  Two weeks later, they added South Africa. Initially, I was only thinking about going to Hong Kong. In addition to the obvious allure of such an exotic and beautiful location, my finance brain was eager to take advantage of the very favorable foreign exchange rate for Hong Kong Dollar to USD.  I then looked at GN’R’s tour schedule.  Following two performances in Hong Kong, they were scheduled to go to Abu Dhabi and then conclude in Johannesburg.  I’ve always wanted to go to South Africa.  It’s a long journey from either New York or Los Angeles, but not quite so far from Hong Kong!  And the foreign exchange rate for South African Rand to USD is twice as favorable as HKG to USD!  This would be Guns N’ Roses very first concert appearance in South Africa, and it was being held at a world cup soccer stadium! I was able to get a non-stop flight from Hong Kong to Johannesburg on South African Airways.  By skipping Abu Dhabi, this gave me plenty of tourist time in both Hong Kong and South Africa.  The final selling point was a non-stop flight from Johannesburg to JFK, with a four hour layover in New York, before a non-stop flight back to Los Angeles! How could you pass that up?  Everything about this trip made sense.  I treated myself to flatbed business class for the 13 hour flight from HKG to Johannesburg, and the 17 hour flight from Johannesburg to JFK.  It was still a great deal because of the exchange rate. You have to seize opportunity when it presents!

And as luck would have it, in the 15 ½ hour flight from LAX to Hong Kong on Cathay Pacific, for which I purchased a premium economy ticket, I was upgraded to flatbed business!  I should note this was my very first time flying on Cathay Pacific, a member of the One World Alliance, as is American Airlines.  I have been an American Airlines Advantage Member for many years.  Recently, American added a non-stop route LAX to HKG, competing with Cathay Pacific.  I can tell you that in all the years I have flown with American, never once was I upgraded to first or business class, and certainly not for an overseas flight in a flatbed pod.  About the most I can expect from American Airlines these days is a miserable travel experience with delays, missed connections, and rude unprofessional behavior. Some travelers will put up with that for dirt cheap airfares, with an airline that has the most travel routes in the world.  I will not. Cathay Pacific has certainly had their share of challenges recently, but where they distinguish themselves, is in their ability to provide far superior service!

If you have an opportunity to visit Hong Kong, I highly recommend visiting the Island of Lantau, where most of my time was spent.  The airport is located there, in close proximity to the concert venue, the Asia World Expo, and the conveniently connected Hong Kong Sky City Marriott. After flying 15 ½ hours to a destination 17 hours ahead in time, it was great to stay at a very nice hotel close by, and all right on the shore of the South China Sea!  The island of Lantau is far less crowded than the main Hong Kong island, and is home to some pretty amazing tourist attractions.

I hit the ground running and met a few members of GN’R’s tour management at the hotel bar that first night and scored a couple of Slash picks!  The next day was the first of two performances at this intimate arena, with very organized and disciplined security that made the process of lining up and getting into the pit area stress free.  This is no small feat let me tell you.  I should note that the crowd in the pit was very young, primarily college age students.  I met one group of fans, all college students from mainland China, who traveled seven hours by train and boat to reach the Asia World Expo.  Streaming music is big in China, and these young kids, who weren’t even born when GN’R’s debut album “Appetite for Destruction” was released, were turned on to this iconic 80’s Rock&Roll Band by Tencent Music, which is the equivalent of Spotify in China.

Guns N’ Roses powered through all the classics, and the energy in the arena was electric! The second night was even better.  Axl Rose is the consummate Rock&Roll frontman!  At 56 years of age, his three hour + performances, running back and forth across a very large stage, would be challenging for most.  Slash is the ultimate shredder, with rivers of sweat pouring down his arms, hands, and fingers, never missing a beat.  I should note that at the Johannesburg performance, one of his guitar strings broke during the Rocket Queen solo.  With top hat and sunglasses in place, and masses of curly hair all around his face, he made it through this incredibly long solo in brilliant fashion, before a final required guitar change.  The members of Guns N’ Roses have a work ethic second to none!  The final point I’d like to make, is that traveling to faraway places to see Guns N’ Roses, is a wonderful network of friends, highly devoted to this band, and always encouraging, strategic, and adventurous!

It was then on to a magnificent day of sightseeing that began with a ride on the  Tung Chung Cable Car up to the Po Lin Monastery and the Giant Buddha.  Yes I like action vacations and opportunities to overcome my incredible fear of heights!  Perhaps next visit I will choose the cable car with the glass bottom, but for now I’ll give myself some credit for being able to stand up hands free in the regular cable car. We had lunch at the Po Lin Monastery and then scaled 286 steps to the Giant Buddha!  We then traveled down the other side of the hill to the Tai O Fishing Village where we embarked on a boat ride into the harbor and out into the South China Sea! 

The adventure continued the following night, leaving Hong Kong International Airport at 9:45PM and arriving early Saturday morning to O.R. Tambo International Airport in Johannesburg, South Africa.  My driver from the Protea Marriott Hotel was there to meet me and we actually stopped at a local Shop Rite to fetch my Golden Circle Early Entry ticket for the concert, before arriving at the hotel.  This was very efficient, which I most appreciated!

I settled in over the weekend and relaxed at the rooftop pool on the 24thfloor.  I struck up a conversation with a woman who divides her time between San Diego and Washington DC, who works for an NGO that is filming a documentary about the Rising Star Cave System, part of the Cradle of Humankind World Heritage Site.  In 2013, a historic fossil discovery of Homo naledi, one of the largest hominin finds in history, was made in the Dinaledi Chamber within the Rising Star Cave. This discovery has challenged scientists to reconsider what it means to be human! And yes this was on my tourist schedule for the upcoming week!

Before we get to that adventure, my week began at 5:45AM on Monday when a tour van picked me up at my hotel to bring a small group of us to the Pilanesberg National Park, the fourth largest game reserve in South Africa, about a 2 ½ hour drive from Johannesburg. If you’re looking for the best one day safari adventure centered around Johannesburg, this is it! It should be noted that all the animals in this reserve, which include the Big Five, live free with no human intervention, other than patrols to safeguard animals from poachers.  This strategy is clearly working as we saw many species of animals with both adults and babies.  As an animal lover it was a delightful expedition!  We went out in the morning on a three hour ride in an open air vehicle. After lunch by the Hippo pool, we went out again in the open air vehicle for about two and half hours.  I hope you enjoy the many photos below.  We stopped at a market and did some shopping in our return to Johannesburg, returning to the hotel around 7PM.  It was a long day but well worth it!

The next day we traveled to the Sterkfontein Caves and the Cradle of Humankind, which thankfully started with the tour van picking me up at 9:30AM. Sleep is highly overrated when you’re a person of action and adventure!  The Sterkfontein Caves, loaded with limestone and other precious minerals, are home to some highly acclaimed fossils, including Mrs. Ples and Little Foot, the lat­ter being an almost com­plete Aus­tralo­p­ithe­cus skele­ton dat­ing back more than three mil­lion years!  The tour took us deep into the cave, which requires you to wear a hard hat.  I was a little worried about being claustrophobic, but I can assure you it was fine.  Next it was on to the Cradle of Humankind, a very interesting museum where we learned all about Homo naledi and the significance South Africa plays in the evolution of our history.  I highly recommend taking this tour and please check out the photos below!

On my final day of sightseeing, we made a number of stops, beginning at the 50 story Carlton Centre, which is the tallest building on the African continent!  Next it was on to Constitution Hill, home to the Constitutional Court of South Africa, the highest court in the land, and the prison where Nelson Mandela began his 27 year sentence for being a political activist.  The court chamber was designed with windows that allow you to see the former prison, now a museum, with the guiding principle that transparency will be a prevailing force within their justice system.  Next we went to the Apartheid Museum in Gold Reef City, which does not permit photos.  When we entered and tickets were distributed, I received one that read “NIE-BLANKES, NON-WHITES”.  The creators of this museum try to replicate, as best as possible, what it was like to live under Apartheid rule.  We concluded the day in Soweto, at the home Nelson Mandela lived in before and after he was sent to prison.  We then walked down Orlando West street, where merchants are eager to sell you their handmade fare, and where you will find the Tutu House, home to 87 year old Archbishop Desmond Tutu and his wife Leah.  What an incredible day!

Later that evening, I organized a Guns N’ Roses fan meet up on the rooftop bar at my hotel.  My friend Toshie, an avid world traveler and highly devoted GN’R fan from Tokyo, had arrived on Tuesday from the Abu Dhabi performance. Joining us were Rabea, Nadine, and Rabea’s husband, who were staying at a hotel down the block.  I first met Rabea and Nadine, who hail from Frankfurt, Germany, at a horror movie screening with Slash in February 2016 at the iconic London Hotel in West Hollywood! The world is a small place when you’re a Guns N’ Roses fan and you make smart use of social media to stay connected. We had a terrific time, and the bar piped Guns N’ Roses music through their speakers, connected through WIFI from my iPhone!

Now we were all set for the big day, Thursday November 29!  Our golden circle early entry ticket instructions advised that VIP check in would begin at 4PM.  We had arranged through the hotel to be dropped off around 1PM, nervous that there would be a long line of VIP people arriving early, and determined to be in the first row, “on the rail”.  This is what it’s like to be a devoted Guns N’ Roses fan.  It’s not for the faint of heart, let me tell you! Security at the FNB Stadium was outstanding, even better than in Hong Kong.  They had an army of large security men walk all of the VIP ticketholders slowly and calmly into the pit and we basically walked to the rail. Outstanding!

And there I was, with some terrific friends old and new, hailing from Germany, Japan, Australia, Argentina, and South Africa, in a world cup soccer stadium, half way around the world, “on the rail” to see one of the greatest Rock&Roll bands of all time!  I don’t think it gets much better than that!  And our beloved rockers of course delivered once again.  I should note that Axl Rose apparently suffered with food poisoning in Abu Dhabi and had to cut that concert performance short at two hours, which is laughable to say the least, as most bands that age don’t even play that long. Guns N’ Roses performs for a minimum of three hours, and once was on the stage four hours! Yes the band has come a long way since the early days of their meteoric rise to fame in the late 1980’s, characterized by well noted debauchery, mayhem, and tardiness.  The musical brilliance that arises from such personality and behavior is still there thank goodness, and combined with a mature and very responsible work ethic today, is the formula for success that made this #NotInThisLifetime tour one for the record books!  Thank you Axl, Slash, Duff, Richard, Dizzy, Frank, and Melissa!

Let’s see, what should I take you out with?  You can’t argue with tradition!  Paradise City

Elias surprised me at LAX, on the same flight to Hong Kong!

Elias surprised me at LAX, on the same flight to Hong Kong!

Lining up GA Pit Hong Kong Night 1 with Guilherme in the middle, a member of GN'R's management team!

The core fan group lining up for the GA Pit Hong Kong Night 1 with Guilherme in the middle, a member of GN’R’s management team!

A group of college students from mainland China, who joined us "on the rail"!

A group of college students from mainland China, who traveled 7 hours by train and boat to see Guns N’ Roses in Hong Kong

Slash Hong Kong Night 1

Slash Hong Kong Night 1

Hong Kong Night 2 on the rail with Erin, Charles, and Jenn!

Hong Kong Night 2 on the rail with Erin, Charles, and Jenn!

Night view from the Sky City Marriott overlooking the South China Sea on the Island of Lantau!

Sunrise from the Sky City Marriott overlooking the South China Sea on the Island of Lantau!

 

Beginning the cable car ride up to the Giant Bhudda!

Beginning the cable car ride up to the Giant Bhudda!

Some people choose to walk the steps, instead of taking the 20 minute cable car ride to the top!

Some people choose to walk the steps, instead of taking the 20 minute cable car ride to the top!

The Hong Kong Zhuhai Macau Bridge, a 34 mile bridge, tunnel system, the longest sea crossing in the world. The Bridge to nowhere!

The Hong Kong Zhuhai Macau Bridge, a 34 mile bridge, tunnel system, the longest sea crossing in the world. The Bridge to nowhere!

The Giant Buddha!

The Giant Buddha!

268 steps to the Big Buddha!

268 steps to the Big Buddha!

Tai O Fishing Village

Tai O Fishing Village boat ride with Margott and a new GN’R friend from Germany

South China Sea just outside the Tai O Fishing Village Harbor

South China Sea just outside the Tai O Fishing Village Harbor

Tai O Fishing Village

Tai O Fishing Village

Thanksgiving dinner with friends at The Crystal Lotus at Disneyworld Hong Kong! t

Thanksgiving dinner with friends at The Crystal Lotus at Disneyworld Hong Kong!

 

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Getting ready to descend into the Sterkfontein Cave outside Johannesburg, South Africa!

Getting ready to descend into the Sterkfontein Cave outside Johannesburg, South Africa!

Entrance to the Sterkfontein Cave.

Entrance to the Sterkfontein Cave.

At the bottom of the Sterkfontein Cave!

At the bottom of the Sterkfontein Cave!

Limestone inside Sterkfontein Cave

Limestone inside Sterkfontein Cave

 

 

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Ascending from the Sterkfontein Cave Tour!

Ascending from the Sterkfontein Cave Tour!

The Cradle of Humankind Museum South Africa

The Cradle of Humankind Museum South Africa

View of Johannesburg from the 50th floor of the Carleton Centre.

View of Johannesburg from the 50th floor of the Carleton Centre.

The Nelson Mandela Home in Soweto, South Africa

The Nelson Mandela Home in Soweto, South Africa

At Nelson Mandel's former home in Soweto, South Africa!

At Nelson Mandel’s home in Soweto, South Africa!

Bedroom in the Nelson Mandela Home

Bedroom in the Nelson Mandela Home

Portrait of Nelson Mandela in his home in Soweto

Portrait of Nelson Mandela in his home in Soweto

Nelson Mandela just before he left for prison.

Nelson Mandela just before he left for prison.

Nelson Mandela when he returned home from prison.

Nelson Mandela when he returned home from prison.

Hotel Protea Marriott Johannesburg, South Africa. Guns N' Roses fan meetup at the 24th floor rooftop bar with Nadine, Rabea's husband, and Rabea from Germany and Toshie from Japan!

Hotel Protea Marriott Johannesburg, South Africa. Guns N’ Roses fan meetup at the 24th floor rooftop bar with Nadine, Rabea’s husband, and Rabea from Germany and Toshie from Japan!

Concert day with Toshie, Riki, and Jaye!

Concert day with Toshie, Riki, and Jaye!

On the rail with Toshie at PNB Stadium Johannesburg, South Africa!

On the rail with Toshie at PNB Stadium Johannesburg, South Africa!

On the rail with Toshie at FNB Stadium Johannesburg, South Africa!

On the rail with Toshie at FNB Stadium Johannesburg, South Africa!

On the rail with Toshie, Rabea & her husband, and Nadine!

On the rail with Toshie, Rabea & her husband, and Nadine!

Slash!

Slash right above me!

Slash!

Slash!

Duff McKagan Johannesburg, South Africa!

Duff McKagan Johannesburg, South Africa!

Axl!

Axl!

Axl!

Axl!

Axl Rose right above me Johannesburg, South Africa! Drummer Frank Ferrer on the big screen in the background!

Axl Rose right above me Johannesburg, South Africa! Drummer Frank Ferrer on the big screen in the background!

Axl and Slash!

Axl and Slash!

Slash Johannesburg, South Africa!

Slash Johannesburg, South Africa!

Slash Johannesburg, South Africa!

Slash Johannesburg, South Africa!

Guns N’ Roses in Iceland!

Prior to August 2015, the furthest distance I traveled to see a live musical event, or to meet a musical legend, was about 300 miles.  With a group of friends, we drove from the Long Island suburb of Huntington to the Carrier Dome in upstate Syracuse, to see the Rolling Stones in concert on November 27, 1981.  I was in high school and my friend’s older boyfriend drove.  As we drove north, it began to snow.  I remember this vividly because one of the people in our group was from Australia and he had never seen snow before.  It was quite the adventure and I must say we had pretty good seats! It was the 80’s and iconic bands sold out quickly, so we were only able to get tickets in Syracuse!

I should note that I did consider traveling to London’s Wembley Stadium a few years later to see Robert Plant and Jimmy Page perform.  My nana was going to give me the money for the trip, but none of my friends could come up with the money needed, so the trip was scrapped.

Fast forward to 2015. I decided to travel to Seattle, Washington for a free concert on the roof at The Pike Place Market, followed by a private fundraising party with some Rock&Roll legends including Guns N’ Roses Bass Player Duff McKagan.  Since then, I traveled three times from New York to Los Angeles in 2016 to attend a horror movie screening with Slash, the lead guitarist in Guns N’ Roses.  In 2016 and 2017, I saw GN’R ten times in concert venues across the Unites States, including major stadiums in New Jersey and Seattle, Washington, many arenas including the debut arena reunion performance at the T Mobile Arena in Las Vegas, Nevada, to the breathtakingly beautiful amphitheater The Gorge, just over the mountains from Seattle, considered one of the most scenic concert locations in the world!

In 2018, I took this to the next level and decided to travel to Laugardalsvollur football stadium in Reykjavik, Iceland at the end of July to see my beloved GN’R Rockers.  It was the final tour performance of the 2018 European leg and was the largest concert to date to ever be held in Iceland!  I had many friends in the U.S. and U.K. who were attending, and I actually kept it secret until I arrived at the departure gate at the airport.  The only person who knew was a good friend in the U.K., also attending.  Yes I will create adventure any way I can!  I took a photo of the screen with the flight information and posted it on Facebook, tagging all my friends who were already there, “Surprise see you all soon!”

Although it was a very short trip, I had a great time!  I arrived on a Monday morning and booked the full day Golden Circle Classic Tour, which first brought us to Pingvellir National Park, where the tectonic plates of North America and Europe meet!  Next, we stopped in Blaskogabyggo to feed some Iceland horses.  Did you know that Iceland horses are a rare breed?   They have a special gait, called the 4thgait tolt, which is a very smooth gait.  You can ride this horse and carry buckets filled with water and you will never have to worry about spilling them.  When an Iceland horse leaves Iceland, it is not allowed to return.  No horses are permitted to enter Iceland as the people of Iceland wish to safeguard this breed.  As we traveled throughout the country side, we saw many fields of wild Iceland horses.  Next we went to the Gullfoss waterfalls, a simply breathtaking sight, where we were able to walk on the rocks, alongside the edge of the falls.  Our final visit was to the Geysir region where multiple hot springs erupt regularly.  Check out the photos below.  There was an opportunity for the adventurous ones in the group to climb to the highest elevation of a rocky hill that rivals my Runyan Canyon Friday morning hikes! If there is one thing I have learned in life, exercise is the key to staying young and fit!

Later that evening it was on to the Hard Rock Café in downtown Reykjavik to meet up with my friends who hail from the U.S., Finland, Japan, and the U.K.!  The Guns N’ Roses fan contingent is global!  For the single fan, this makes building adventurous vacations around global tour dates ideal!  For most GN’R trips, I typically make some new friendships and strengthen existing ones.  Huge thank you to my friend Julia from London who kept my secret about the trip!  It was great to get to know you and Lyn a lot better!  I also met new friends Natalia and Daniel from Helsinki, Finland.  The nicest couple you ever want to meet!  The next morning we arrived to the stadium early to line up for the GA pit.  This is an experience unto itself that builds the camaraderie of this devoted fan group.  Our goal of course, is to be on the rail at the stage.  A major Iceland news organization interviewed us, fascinated with our early arrival and queuing strategy.  Guns N’ Roses at Laugardalsvollur Stadium  The photo of the person on the right wearing a leather jacket with the Guns N Roses logo on the back is yours truly! If any of you are fluent in Icelandic, I would love a translation of this article.

We made it to the rail and our band of wildly talented Rock&Roll musicians powered through 33 timeless classics before the night was over, over 3 hours of epic musical masterpiece by legends in their mid 50’s!  The set list included Velvet Revolver’s “Slither”, the first time I heard a reunited GN’R perform a song by Slash’s band Velvet Revolver.  Why is this significant?  Slash formed Velvet Revolver after he left Guns N’ Roses in the mid 1990’s.  It was a bad breakup that lasted 23 years with Axl Rose and Slash not speaking with each other until late 2015.  Another favorite of mine, recently added to the setlist, is “Madagascar” from the 2008 Chinese Democracy album release.

Remember life is short and precious.  Make the most of it! Go see Guns N’ Roses!

Cover Photo Credits: Cynthia Drew at the Geysir in Reykjavik, Iceland

Guns N' Roses early arrival fans Reykjavik, Iceland July 24, 2018

Guns N’ Roses early arrival fans Reykjavik, Iceland July 24, 2018.

 

Baggage Claim Reykjavik Inernational Airport

Baggage Claim Reykjavik International Airport. Hi Slash!

 

View from my Hilton hotel room in Reykjavik.

View from my Hilton hotel room in Reykjavik!

 

Pingvellir National Park

Pingvellir National Park

 

Pingvellir National Park

Pingvellir National Park

 

Pingvellir National Park

Pingvellir National Park

 

Pingvellir National Park

Pingvellir National Park

 

Feeding an Iceland horse!

Feeding an Iceland horse!

 

Iceland countryside!

Iceland countryside!

 

Gullfoss Waterfalls

Gullfoss Waterfalls

 

At the edge of the Gullfoss Waterfalls !

At the edge of the Gullfoss Waterfalls !

 

Gullfoss Waterfalls

Gullfoss Waterfalls

 

Gullfoss Waterfalls

Gullfoss Waterfalls

 

Iceland countryside

Iceland countryside

 

Iceland countryside, legend says this is two trolls kissing!

Iceland countryside, legend says this is two trolls kissing!

 

This geyser erupts every seven minutes!

This geyser erupts every seven minutes!

 

Ssshhh! Don't tell anyone I climbed to the top of that rocky hill as seen in the feature image!

Ssshhh! Don’t tell anyone I climbed to the top of that rocky hill as seen in the feature image!

 

Guns N' Roses Fan Meetup Hard Rock Cafe Reykjavik!

Guns N’ Roses Fan Meetup Hard Rock Cafe Reykjavik!

 

Bottle opener for cousin Pam!

Bottle opener for cousin Pam!

 

And the party continues at another bar in downtown Reykjavik where members of the band crew were hanging out earlier in the night!

And the party continues at another bar in downtown Reykjavik where members of the band crew were hanging out earlier in the night!

 

And there we are! Crazy fools lining up earlier in the morning for an evening performance!

And there we are! Crazy fools lining up earlier in the morning for an evening performance!

 

Slash tattoo

Slash tattoo

 

Cynthia and Carla at the rail!

Cynthia and Carla at the rail!

Artist Spotlight Big Hit Buda

Music fills my soul!  So does gymnastics!  This is how I met the incredible musical talent of Brad Turner, better known by his artist name Big Hit Buda.  In 2012, I attended the London Olympics where the USA Gymnastics Women’s Team brought home the Gold Medal, a worthy accomplishment by team members Gabrielle Douglas, Ali Raisman, McKayla Maroney, Jordyn Wieber, and Kyla Ross.  The USA Women earned a total of five medals, three Gold (All Around Gabrielle Douglas, Floor Exercise Ali Raisman, and Team), one Silver (Vault McKayla Maroney), and one Bronze (Balance Beam Ali Raisman).  For the USA Men, Danielle Leyva brought home the Bronze in the All Around.  My favorite USA Gymnast from the Men’s team, the incredibly talented John Orozco who hails from the South Bronx in New York, finished 8th in the All-Around. It was incredibly inspiring and I was honored and grateful to be there.

Of course I posted about all of this on Twitter.  I joined Twitter in October 2009 and immediately started following my favorite gymnasts and musical legends.  If you’re paying attention to my tweets, my passion is clear on these two subjects.  During the London Olympics, Brad was paying attention and invited me to watch his new music video, “Heart of A Champion”, dedicated to the USA Women’s Gymnastics Team.  The power of social media!  I can tell you this medium brought me back into the musical fold, and this particular song captured my heart! I should note that many musical Artists have reached out to me on Twitter, in the hopes that I will like their music.  Big Hit Buda stands tall against the competition!

Over the past nine years, I have come to appreciate just how difficult it is to create epic musical masterpiece that lifts your soul and gives you the inspiration to take on the world. I grew up loving a wide variety of music, with Classic Rock my mainstay.  I think it’s the grit and edge of anthemic melodies sitting squarely on top of electric guitar riffs that simply put, makes everything right in my world!

Big Hit Buda has a rare musical talent, rapping with a Rock&Roll and Soul infused sound, nothing short of WOW! His music takes on timely and relevant societal subject matter, and brings a message of hope and inspiration.  His newest project, just released on YouTube,  I Matter, confronts the struggles we currently face in our world on matters of equality.  The song has purpose and edge, and the lyrics are thoughtful and bold!

What inspires me the most though, and prompted me to feature Brad in this Artist Spotlight post, was the following.  Big Hit Buda was born with an abnormal blood vessel in his brain, a venous malformation.  A few years ago this condition required surgery, and unfortunately he suffered a complication and developed seizures.  He had one while driving his car, which caused him to get in an accident.  He was seriously injured and endured a lengthy period of recuperation, including three months in a body cast.  I hadn’t heard from him in a while and began to wonder what was going on with his music. I reached out and learned about the accident.  He said he wasn’t creating any music at the time, that he was focused on medical treatment. I was naturally upset and prayed for his recovery.  Knowing Brad as a person of integrity with a terrific attitude, I was very hopeful.

While we stay connected on Facebook and Messenger, we didn’t speak for a few years.  Then one day in September 2018, Brad reached out, with a link to his new video for “I Matter”!  He said his health was good and he was once again creating music.  I was thrilled and it really got me thinking!  I have tremendous faith in God and firmly believe that circumstances alone will never be able to stop someone from putting their gifts out into the world!  This is what motivates me every day to never give up!  Brad, you are a light in the world and your musical genius will never be silenced!

“I Matter”is a song of hope and inspiration and Big Hit Buda is an amazing Artist!  Please check out the video on YouTube here. and I’m sure you will be inspired to subscribe to his YouTube channel.

Big Hit Buda is currently working on his album “Victorious Underdog” so stay tuned for updates on this!  The sky is the limit!

Big Hit Buda Website

I Matter iTunes

Big Hit Buda on Spotify

The Music Modernization Act Breaks Triumphant Ground!

On Thursday October 11, 2018, President Trump signed into law The Music Modernization Act (MMA), a 184 page bill, groundbreaking as the most important piece of U.S. Copyright legislation in a generation, and groundbreaking in the manner it all came together, with unanimous bipartisan support on Capitol Hill.

The MMA will ensure that songwriters earn a more meaningful share of the U.S. digital streaming revenue pot,  $5.7 billion in 2017, and projected to rise to $34 billion by 2030.   Why is this important?  Without songwriters, there is no music!  In the United States, revenues from digital streaming music made up 75% of total recorded music revenue in the first half of 2018.  Pre MMA, the U.S. songwriter has struggled to survive in the digital streaming era where the recording artist (the face of the music you know), earned 13 times more in royalties on digital streaming, than did the songwriters who wrote the songs.   That model was not sustainable and put the $18 billion U.S. Music Industry ($10 billion live + $8 billion recorded) at risk. Songwriter royalties are heavily regulated by the U.S. government and U.S. Copyright Law had not kept pace with the digital revolution in music delivery.  The wheels are now in motion.  At the 2017 Copyright rate hearings, the U.S. Copyright Royalty Board (CRB) instituted a 43% rate increase, for the streaming mechanical royalty from 10.5% to 15%, to be phased in over a five year period, and eliminated the total content cost (TCC) cap.

What exactly does the MMA provide?  Broadly, the MMA updates the music licensing process for digital streaming music, that will result in greater compensation for songwriters, a more efficient and lower cost rights clearance process for Digital Service Providers (DSPs) like Spotify and Apple Music, a defined royalty for producers and engineers, and a royalty to artists and record labels for pre-1972 sound recordings played on digital and satellite radio.  Specifically, please note the following negotiated provisions.

  • No more NOIs. Today DSPs are permitted to send an unlimited number of  Notice of Intents (NOIs) to the U.S. Copyright Office, for any song they wish to play, in which they do not have complete and accurate songwriter information. This means the songwriter does not get paid.  And yes those royalties have accumulated in the bank accounts of the DSPs and is estimated to total around $1 billion.  There will be a mechanism for songwriters to claim these monies.
  • Performance Rights Organizations (PROs) ASCAP and BMI will no longer be limited to the same two rate court judges to determine royalties. The MMA provides that these rate hearings will be assigned randomly to any federal judge, thereby eliminating the opportunity for DSPs and other licensees to “game the system”.
  • Rate courts will now be able to consider all market evidence, including sound recording royalties, when setting rates for public performances of musical works.
  • The MMA creates an independent licensing collective, which will have the power to make sure royalties are distributed fairly and timely. Further, songwriters are obligated under the law to receive at least 50% of all royalties for unmatched works.
  • The MMA officially provides for a streaming mechanical royalty, in addition to a public performance royalty to songwriters for music played by the DSPs. Recently the DSPs were taking the position in litigation, that they are not required to pay a streaming mechanical royalty.  This is now the law and the DSPs will never be able to argue that point again.
  • The MMA provides for the very first time, an Audit right. The new licensing entity will have the right to audit the DSPs to ensure proper reporting and payment of royalties.  Copyright owners will have the right to audit the licensing entity.
  • Mechanical royalty rates, currently set using an outdated four-part formula (801(b), resulting in below market rates, will now be based on a willing buyer / willing seller approach.
  • All costs for the licensing entity will be paid by the DSPs, eliminating commissions and resulting in higher payments to songwriters. In return, DSPs that obtain a blanket license from the Mechanical Licensing Collective (MLC), and comply with licensing requirements, will be exempt from liability of statutory damages for copyright infringement.
  • Songwriters will have positions on the three Boards governing the operation of the licensing entity.
  • Self-published songwriters will have 4 out of 14 seats on the Board of Directors of the MLC.
  • Songwriters will have 5 of 10 seats of an Advisory Committee overseeing the unclaimed royalties process.
  • Songwriters will have 3 of 6 seats of a Dispute Resolution Committee to resolve disputes of musical works ownership and royalty distribution.

The United States music market is the largest in the world, representing 33% of the global music market in 2016.  Further, according to U.S. Economist Stephen Siwek, the music industry contributed $143 billion annually in value to the U.S. economy in 2016, at a compound annual growth rate (CAGR) of 10.2% between 2012 and 2016, compared to a 3.6% CAGR for total U.S. GDP.

The stakes were high. The music industry professionals that brought the MMA to fruition understood this, including veteran music industry attorney Dina LaPolt CEO LaPolt Law and Counsel to Songwriters of North America (SONA), SONA members and founding Board Directors Michelle Lewis, Kay Hanley, and Shelly Peiken, National Music Publishers Association (NMPA) Legal Counsel Danielle Aguirre, Covington & Burling Counsel and former General Counsel U.S. Copyright Office Jacqueline Charlesworth, Co-President Azoff MSG Entertainment Susan Genco, Nashville Songwriters Association International (NSAI), The Writer Is, and many more including music industry professionals, songwriters, recording stars, music activists, and music advocacy organizations. I am proud to report that women were at the forefront of this legislation. Billboard Women in Music Executives Of The year 2018

In addition to the favorable economic impact this legislation will have, this bill illustrates the power of collective individual action, creativity, determination, and compromise. It sets the stage for a new way of governing and problem solving in business in America!  Business School programs should be taking note and adding this case study to their curriculums.  The money flows affected by the Music Modernization Act touch multiple parties with competing interests, songwriters and publishers, Performance Rights Organizations (PROs) ASCAP, BMI, SESAC, and GMR, DSPs like Spotify and Apple Music, The Digital Medial Association (DIMA), and Mechanical Licensing firms like The Harry Fox Agency (HFA), and satellite radio provider Sirius XM.  In the past three years, there were many meetings with each of these industry stakeholders to negotiate a solution to which each party would agree. To be clear, each party had to give something away to get something that benefited them.  All of this work was done before drafting the legislation.  In this manner, the legislators would be more inclined to begin the legislation process, with all parties in agreement.

The Music Modernization Act opened in the U.S. House of Representatives on December 21, 2017. The bill sailed through the U.S. House in April 2018, then moved on to the U.S. Senate, passing unanimously in the Senate Judiciary Committee in June 2018.  This is when it encountered two major challenges that threatened to derail the passing of this much needed and landmark legislation.  The first challenge came in July, from private equity firm The Blackstone Group, owner of PRO SESAC, who is the owner of mechanical licensing firm HFA.  Prior to the MMA being passed, HFA administered most of the streaming mechanical royalties in the U.S.  The original premise of the MMA was to have one mechanical licensing collective to administer all applicable royalties.  Blackstone wanted HFA to compete with the collective. The songwriting community held its ground and organized an army of activists, from little known supporters to major players in the industry.  Once again, determination, imagination, and compromise prevailed!  It was agreed that the mechanical licensing collective would administer the blanket compulsory mechanical license, and can compete with firms like HFA to administer any direct deals for synch, performance, and lyric licensing.  This works because the spirit of the MMA is to protect the most vulnerable, which is the songwriter under the compulsory mechanical royalty.  More on the compromise reached here.

The second challenge came in September 2018 from Liberty Media who owns Sirius XM satellite radio. Under current copyright law, satellite radio and digital webcast providers do not have to pay a sound recording royalty for pre-1972 sound recordings.  Under the MMA, they will be required to do so.  The music community once again rose up!   Ultimately a compromise was reached, wherein the royalty rates Sirius XM must pay, currently 15.5% for post 1972 recordings, are frozen until 2027. Additionally, Sirius will pay pre-1972 royalties equally (50/50) to recording artists and labels.

The success of these two major challenges that threatened the passage of this bill, is a testament to the collective power of the little guy taking on powerful corporate interest!  More on the negotiations reached here.

The process of creating the Mechanical Licensing Collective and seating the Board and committee members is now under way.  If you’re a songwriter, or a supporter of songwriters, and you’re not yet a member of SONA, I encourage you to join! SONA Membership It’s a formidable organization!

Onward and upward !!  There’s no stopping us now!

L.A. Music Scene Spring 2018

Time flies when you’re swaying to and fro in the best damn Rock&Roll scene on the planet! Two words.  Chuck Wright’s Ultimate Jam Night (UJN).  The world famous Whisky A Go Go.  Oh all right, twelve very fine words to be exact.  And what is it exactly that channels such pure unbridled Rock&Roll passion?  Could it be extraordinary musical talent?  Could it be super cool committed fans? Could it be an unparalleled level of service that discerning fans demand?  Perhaps it’s the raw edge that Rock&Roll delivers that inspires us to take on the world!  Whatever it is, it’s here!

Simply put, the Ultimate Jam Night (UJN) rocks! It all begins with the very talented UJN House Band, featuring our Captain and UJN founder, legendary Bass player Chuck Wright, from Quiet Riot and Alice Cooper.  Then we have the Emcee of Emcees, Lead Singer and multi instrumentalist Paulie Z. from The Sweet and Rubix Cube, who sets the enthusiasm bar so high, we could all fly to the moon!  On lead guitar we have the legendary and very talented Mitch Perry from The Edgar Winter Band, who has performed with a long list of greats including Aerosmith and the Michael Shenker Group to name a few.  The man who keeps it all together, I give you the amazing Joe Travers on Drums from Billy Idol and Duran Duran.  To round out this amazing ensemble, we have the extremely versatile Walter Ino, multi-instrumentalist and vocalist from Survivor.

Let me explain how this works.  Every week there is a very specific theme, with a well thought out list of songs representing.  Roughly 50+ very talented musicians are each given a specific assignment. They practice at home and meet their fellow performers on stage and perform live, completely unrehearsed!  I have to tell you, the level of talent and energy on this stage will completely blow you away!  Of course there are mistakes, but generally, even tough music critics will applaud the high level of technical execution.  And did I mention, there is often a brass or string section added, and sometimes a flute! The list of invited talent is deep and wide, spanning the generations.  To round out this well crafted and highly professional operation, perched high above the stage on the second floor, is a trio of backup singers Paulie Z. refers to as “the secret sauce”.  Now that you have the complete picture of talent, please note some of the wildly creative themes we have enjoyed this Spring!

  • Mar 20: Power Trio – Songs from bands with only three members, including Rush and Zebra.
  • Mar 27: Paul McCartney
  • Apr 3: Heaven and Hell – Songs with these words in the title, including Knockin’ On Heaven’s Door and Hells Bells.
  • Apr 10: Art of Instrumentals
  • Apr 17: 80’s Hair Bands – From the legendary Whisky that gave birth to this incredible era! Once again Paulie Z sets the bar high in full Axl Rose hair and bandana.
  • Apr 24: Rolling Stones
  • May 1: Rock&Roll Hall of Fame – Songs from this year’s inductees.
  • May 8: Pop Goes Rock – Taking very traditional “Pop” songs and adding a “Rock” flair to them. Brilliant fun!
  • May 22: Ladies of the 80’s – Including Pat Benatar, Cyndi Lauper, and Madonna.
  • Jun 5: Pride Night – Songs by artists and bands with LGBTQ members. This also served as a fundraiser for the Trevor Project which supports at risk LGBTQ teenagers.  Musical highlights included a brilliant rendition of Queen’s Bohemian Rhapsody that brought us all to our knees.
  • Jun 19: Southern Rock
  • Jun 26: Funk, Rock & Soul
  • Jul 10: Honoring the Life of David Z., brother to UJN Emcee & Lead Singer Paulie Z., who lost his young life in a terrible automobile accident while on tour just a year ago. Performing all of David’s favorite songs and raising money to fund a music scholarship in his name at Brooklyn College, highlights included Michael Jackson’s epic “Billie Jean”, Aerosmith’s “Dream On”, and a delightful romp of “Hey Mickey” with full dress cheerleaders on stage. The night concluded with an all ensemble vocal performance of Journey’s Don’t Stop Believin’ with full audience participation!

The Whisky A Go Go is my home away from home and since my last update in March, I’ve attended so many great performances including Norwegian duo Ask Carol  opening the night on April 20.  You need to check them out!  On May 10, Adler’s Appetite performed GN’R hits to a very enamored and sold out crowd before embarking on a tour to Australia. Featuring Constantine Maroulis of American Idol fame on vocals, UJN regular Sean McNabb on Bass, and original Guns N’ Roses drummer Steven Adler, energy ran high!  Direct support band honors were masterfully handled by up and coming local rock band “Classless Act”, founded by best friends London Hudson on Drums and Nico Tsangaris on Lead Guitar.  You might recognize the last name Hudson.  London is the eldest son of rock legend Saul Hudson, AKA Slash of Gun’s N’ Roses!  A very young and extremely talented band, the amazing Derek Day, also a UJN regular, is lead vocalist.  I highly recommend you check them out!  Headlining Saturday night May 19 was a solo performance by Steven Pearcy of RATT, with an impressive opening by Tommy Delaney and The Angel City Rockers!

Another staple for the Rock&Roll gymnast is the terrific Hunnypot Live show every other Monday night at The Mint!  On May 14, a young up and coming female talent known as The Songery brought out the crowds, as well as the band jackiO, comprised of legendary talent from Oingo Boingo.  I also really loved Old_Support on May 28, a folk rock grunge band with veteran talent who have performed multiple headlining shows on both coasts this year.

On Sunday April 8, I made a terrific little jaunt up to Ventura with some friends for the TRIBOO Classic Rock festival, featuring some very impressive cover bands including Led Zepplica and Hollywood Stones.  On April 22, it was on to the bi-annual Party in the Parking Lot at the world famous Rainbow Lounge Bar & Grill on the Sunset Strip, featuring Faster Pussycat and Lynch Mob! Just an awesome day of music and fun!  Mark your calendars for Sunday September 2 for the Labor Day weekend bash!

On May 4, I caught  Kids On Bridges at The Viper Room all the way from Liverpool, UK. A young up and coming band, they describe themselves as “Dirty Filthy RDM, Pop Art Terrorists”.  They’re very talented and will hopefully be returning to America later this year.  I’ll keep you posted!

On May 6, supporting his first ever solo project “The Year Of The Tiger”, the incredibly talented Myles Kennedy of Alter Bridge and Slash featuring Myles Kennedy and the Conspirators fame, brought down the house to a sold out crowd at Doug Weston’s The Troubadour.

On May 9, it was back to the iconic Hotel Cafe for a terrific evening with Nashville based Americana artist Szlachetka in support of his new album “Heart of My Hometown” by Grammy winning producer David Bianco.  Rolling Stone magazine hails this artist as one of the 10 new country artists you need to know.

On May 15, 2018, for the first time since May 1981, when I stood on the grass just in front of the stage at the annual Mayfest party at SUNY Albany, I had the incredible honor to see one of my all time favorite bands, U2!  Words can’t do justice to describe the incredible talent of this 4 person original member cast, Bono, The Edge, Adam Clayton, and Larry Mullen Jr.!  Outspoken political activists with a rich repertoire of important music, they performed many favorites to span the decades from the very emotional “Sunday Bloody Sunday” to one of my newer favorites “Cedarwood Road”.  U2 is also raising awareness for a new movement #WOMENOFTHEWORLDTAKEOVER .  It’s a very important global effort and you should learn more.

On May 21, I experienced my first School Night at Bardot in Hollywood, with UK based  female trio Wildwood Kin. An indie alternative band, they just won the 2017 Bob Harris Emerging Artist of the Year Award, as well as earning two BBC Young Folk Award nominations.  They released their first album “Turning Tides” in August 2017.

On Sunday June 24, I drove over to Pasadena for my first big southern California music festival Arroyo Seco, on the vast grounds of the Rose Bowl.  I kicked off the afternoon at the Sycamore Stage with The Bangles performing all their classic hits, then on to the main stage for the incredibly talented Alanis Morissette.  Gary Clarke Jr, whose music I did not know prior to this festival, provided riveting direct support to headliner Robert Plant, touring to support his new album, performing title cut “Carry Fire” and “The May Queen”.  I hope he will add “Dance With You Tonight” and “Bluebirds Over the Mountain” to the live set.  Still with incredible vocal ability, presence, and charm, Plant brought down the house with Led Zeppelin classics “Going to California”, “Babe, I’m Gonna Leave You”, and “What Is and What Should Never Be”!

On Monday night June 25, it was on to my first Hollywood Bowl concert with the legendary Rod Stewart, now 73 years of age, who I first saw in concert on June 5, 1979 at Madison Square Garden.  Also performing with Stewart was the legendary Cyndi Lauper, now 67.   I salute both of these veteran artists, in awe of such passionate, energetic and brilliant vocal performances!

To close out the month, I returned to the Hotel Cafe Tuesday evening June 26, to see newly formed all female band Kitty Hawk. Nashville based, this terrific ensemble features Annie Bosko, Megan Mullins, and Annie Clements.  Sitting at the table next to us, and invited up to the stage to perform a song with the ladies, was American actress, singer, and producer Rita Wilson, long time wife of two time Oscar Winner Tom Hanks!

Musical immersion!  Let’s keep the light burning!

So I think it’s only fitting to lead you out with this stunning performance by two musical legends, in tribute to yet another, the one and only Freddie Mercury.  Enjoy!

Queen, Elton John & Axl Rose Bohemian Rhapsody

Cover Photo Credits: Ultimate Jam Night Features “80’s Hair Bands” at The Whisky A Go Go April 17, 2018 with UJN Emcee & House Band Lead Singer Paulie Z. in full Axl Rose attire!

Please note all photos below are of amateur quality intended to capture the essence of the moment, not excellence in digital photography.  Please feel free to reach out with any questions as to specifics and background story for each photo.  Enjoy!

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Tom Keifer “The Way Life Goes” !

I knew pretty quickly that moving to the land of music and sunshine was one of the best decisions I had ever made.  This thought was further cemented when I learned that the legendary Tom Keifer, lead singer and multi instrumentalist  of 80’s rock band Cinderella was scheduled to perform on my birthday, Saturday night April 14, at the world famous Whisky A Go Go, my new home away from home!  Most of you know how passionate I am about this wonderful genre we call Rock&Roll. Well, what you don’t know, and let me be the first to tell you, is that Tom Keifer now joins the coveted ranks of Guns N’ Roses, Aerosmith, Led Zeppelin, and the Rolling Stones to comprise the Rock&Roll Gymnast’s Top Five!

As I scanned the November 29, 2017 email newsletter from the ‘Whisky’, my eyes stopped dead in their tracks as I read “APR 14 Cinderella’s Tom Keifer”.  How could that not catch your attention?  I instantly bought a ticket and started to think about all those epic classics from the 80’s like “Nobody’s Fool”, “Don’t Know What You Got”, “Gypsy Road” and so many others.  The list of hits is long! And if you pay close attention, you will see that of the forty-three tracks Cinderella released across four albums (two of which earned 3X platinum certification and one platinum), you will see that not only is Tom Keifer the sole songwriter for all the single hit tracks, but he is the sole songwriter for all but four of all forty-three tracks, and for those four, he is a co-writer.  Do you have any idea how incredible that is?  It’s one thing to have presence on stage and extraordinary musical ability. It’s quite another to also have the gift of creating lyric and song to fill a person’s soul!  Of course this trend marches on in his new solo project release, where he is a writer or co-writer on all fourteen tracks.  

Following my concert ticket purchase, I immediately started following Tom Keifer on Twitter and set out to learn his new solo material from the “The Way Life Goes” album.  I went into iTunes and started listening to a few tracks. I immediately downloaded the entire album and proceeded to TomKeifer.comwhere I purchased the Deluxe Edition “The Way Life Goes” fanpack.   Yes it was that great out of the gate, and of course devoted Rock&Roll fans simply cherish fanpacks!  In addition to the CD loaded with some riveting new material we’ll get to in a minute, there is a bonus DVD with a 30 minute documentary that brings you into the studio for an up close view of the actual production of the bonus tracks, produced by 3 time Grammy Award winning producer Vance Powell!  This includes a masterful cover performance of the Beatles’ “With A Little Help From My Friends”.  And then to really knock it out of the park, Tom Keifer, in his infinite wisdom, brings in the incredibly talented Lzzy Hale of Halestorm, whose main musical influence is Keifer, to perform a simply epic duet of “Nobody’s Fool” that will bring you to your knees!

Now I was at a fever pitch and couldn’t wait for my birthday night to arrive!  Huge thank you to the Whisky owner for the lovely VIP booth and for all my friends who came to celebrate and watch this Rock&Roll legend, still rockin’ the stage at a very fit and young 57 years of age!  We were treated to a terrific mix of Cinderella classics including back to back “Don’t Know What You Got” right into “Nobody’s Fool”, with tears streaming down my face; to new releases “Solid Ground”, “It’s Not Enough”, and title cut “The Way Life Goes”. It was a full on rock explosion to a “packed to the rafters” sold out Whisky A Go Go!  I hope as Tom Keifer and his band continue to tour, we will be treated to live performances of the many more hit tracks on this epic new release, including “Ain’t That a Bitch”, “Ask Me Yesterday”, “Fool’s Paradise”, and “The Flower Song”.   “Yes of all the pretty flowers, baby I picked you!”

So there is one more point of “incredible” I need to share.  How many times have I used that word now?  I’m sure not enough!  In the lead up to this concert, I was trying to figure out how I had lost track of this multi platinum selling artist.  I did a little research and learned that in the early 90’s, Tom Keifer lost his voice. He went to many doctors over multiple years and finally learned that he had a vocal cord paresis, in layman’s terms, a partially paralyzed vocal cord.  This is a neurological condition for which there is no cure and he was told he would never sing again.  Determined to prove them wrong, he forged on in relentless pursuit of better options.  His determination paid off, thank goodness, and to this day, Tom Keifer has to do lengthy vocal exercises daily to train this partially paralyzed chord.  This is in addition to practicing piano and many different versions of guitars, writing songs, and raising a teenage son with musician wife and bandmate Savannah Snow!

Now you get a clear picture of  why Tom Keifer had made my “Top Five”.  Further, you should know that his performance Saturday night April 14 at the Whisky A Go Go was damn impressive!  And if that wasn’t enough, the performance this past Friday night, July 13 at the Pacific Amphitheatre was even better, accentuating with brilliant clarity, all those fine vocal curves he crafted back in the day.  There is no force on this planet that will tame the beast that lies inside of the incredible musical talent of Mr. Tom Keifer.  Bring it on baby and don’t ever look back !

I’ll leave you with this epic masterpiece.  Enjoy!

Tom Keifer Lzzy Hale Duet Nobody’s Fool

Cover Photo Credits: Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer VIP Meet&Greet and Soundcheck The Rose, Pasadena April 13, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Whisky A Go Go April 14, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

Tom Keifer Pacific Amphitheatre July 13, 2018

 

The Musical Artist P&L in Today’s Digital Streaming World – 2017 Update

The Rock&Roll gymnast is pleased to pen my 4th annual update of “The Musical Artist P&L in Today’s Digital Streaming World”. In the evolving recorded music marketplace, 2017 global revenue totaled $17.3 billion, up 8.1%1.  Just last year, growth of 5.99% was noted for being the fastest rate of growth since The International Federation of the Phonographic Industry (IFPI) began tracking the market in 1997.

In the United States, 2017 U.S. Record Industry sales revenue totaled $8.7 billion2 on 778 million units sold, at a total average unit price of $8.13.  Please refer to footnote below which explains key adjustments and calculations3. In comparison to 2016, sales revenue increased a record 17%, annual growth not seen since 1994.  The average unit price increased 45% on strong growth in digital streaming subscriptions.

Ironically, the digital music format that sent the global recorded music industry plummeting by more than half between 1999 and 2014, is now leading the revival.  35.3 million U.S. consumers paid for interactive digital streaming subscriptions in 2017, nearly 6 times more than the 6.2 million who paid in 2013. Associated revenues hit $3.5 billion in 2017, up from just $350 million in 2013. For the same period, the digital streaming services have been successful at maintaining an annual average paid subscription rate of about $100.

In 2017 total U.S. streaming revenue reached $5.7 billion, up significantly from $1.5 billion in 2013. Globally, total streaming revenue reached $6.6 billion in 2017, up from $1.4 billion in 2013.  Growth is expected to continue through 2030, but at a slower rate, as evidenced by initial slowing in 2017.  Analyst Lisa Yang’s team at Goldman Sachs is forecasting global streaming revenue to reach $34 billion by the year 2030, comprised of $28 billion paid subscription, $6 billion ad supported.  Goldman projects the music industry will hit $40 billion by 2030.

This brings me to the crux of my update this year, ad supported revenue by Google’s YouTube.  Below you will find multiple graphs that tell the story of important trends in the U.S. recorded music industry.  This year, please focus your attention immediately below on the U.S. Digital Streaming Revenue Trend graph, in particular the red colored slice “On Demand Ad Supported Streaming (Primarily YouTube).

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Total On Demand Ad Supported Streaming revenue, which is primarily YouTube, totaled $659 million in the U.S. in 2017, compared to paid subscription streaming revenue of $3.5 billion. YouTube currently has three times the number of users as Spotify, Pandora, and SoundCloud combined4. It takes 1,449 streams on YouTube to generate a $1.00 to content creators, compared to 230 streams for Spotify paid, and 133 streams for Apple Music4.  You should also know that, as to the claim of music discovery, 81% of YouTube users listen to music they already know4.  Google’s YouTube, which has formidable political capital in the United States, takes advantage of the Safe Harbor Provision in the 1998 Digital Millennium Copyright Act, a law enacted before user content upload platforms even existed. Google earned pre tax income of $27.2 billion in 2017, despite the fact that a $2.7 billion fine was levied by the European Commission because Google’s display and ranking of shopping search results and ads infringed European competition law.  A key determinant in Google’s P&L success is “paid clicks”, which improved 32% net in 2017, as reported in their current annual report, with ‘growth in YouTube engagement ads as a noted driver in improved paid click margins.’  Google has maintained impressive gross profit margins around 60% since at least 2013. Google 2017 Annual Report.

From an economic perspective, since 1999 the recorded music industry has experienced a significant transfer of wealth to the digital technology industry.  While the balance is beginning to shift back to recorded music, this shift will never be complete until the issue of YouTube ad supported revenue is properly addressed. Why does this matter?  First, music is created and performed by individuals we call songwriters and artists, small businesses who used to make a good living, and today are struggling to survive.  The foundation of the U.S. economy is the middle class, whose wealth is continually eroding. Gen X and young baby boomers are on track to be the first generation to retire worse off financially than earlier generations.  More on retirement here. This trend in the long run is not sustainable for the U.S. economy. World Economic Forum on income disparity.

It should also be noted that Trump’s tax plan will do nothing for these small business owners.  No one will be watching more YouTube videos because they have more disposable income.  And if they do, under the current scenario, Google will reap the lion share of those profits, not content creators.  Further, Google has consistently enjoyed a 19% effective corporate tax rate since at least 2013, so there will be no new goodies to pass on to the minions.

Second, without songwriters there is no music. It will not happen tomorrow, but in the long run this will also affect the live music industry, a $10 billion industry in the U.S. in 2017. Eventually it will also affect the streaming services, as the well of new inventory will dry up.

To wrap it up on a positive note, landmark legislation recently introduced “The Music Modernization Act”, which will improve the bottom line for everyone from little songwriters to the mighty streaming services, is well on it’s way to becoming the law of the land. It has already passed unanimously in the U.S. House of Representatives, and is currently open in the U.S. Senate after passing unanimously by the Senate Judiciary committee.  This is all due to the strategic and creative behind the scenes negotiations by tireless music creator advocates, including some exceptional women, all founding Board members of Songwriters of North America (SONA), the little engine that could!  I give you  Dina LaPolt Esq., President LaPolt Law and SONA Legal Counsel; Michelle Lewis SONA Executive Director and ASCAP Board Director; Kay Hanley, multi talented recording artist, songwriter, and composer; and Shelley Peiken, platinum selling songwriter and two time Grammy nominee.  Bravo ladies and thank you!

Google, you’re next!

To lead us out, in celebration of the profound ability that music has to generate peace in our world, I’l leave you with this epic 80’s rock ballad performed live at the Moscow Music Peace Festival in 1989.  Enjoy!

Cinderella – Nobody’s Fool Live from Moscow

Cover photo credits: Slash, taken by Cynthia Drew of her favorite photo from the 2018 Limited Edition Appetite For Destruction Locked and Loaded box set.

1 All Global data is sourced by the IFPI 2018 Global Music Report.

2 All U.S. data is sourced by the Recording Industry Association of America database, with all $ figures expressed in inflation adjusted dollars, and with minor historical adjustments made each year to reflect final sales figures and any accounting adjustments. RIAA Sales Database.

32017 U.S. total units sold of 778 million includes 35.3 million paid subscription streaming. Also note that certain forms of revenue cannot be quantified in units sold and are therefore excluded in the average price calculations.  This includes Limited Tier Paid Subscription, On-Demand Streaming (Ad-Supported), Sound Exchange Distributions, Other Ad-Supported Streaming, and Synchronization revenue.

4YouTube stats courtesy Dina LaPolt Esq. President LaPolt Law and Instructor UCLA Extension course “Legal and Practical Aspects of the Music Business”.

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