They pitch music into massive radio conglomerates and streaming platforms that control how music is consumed, and they collect an ever-growing share of industry revenue. Theres also no record holder for the titles of the fasted time to visit every location on the UK Monopoly board by bicycle. Among those concerns are that the majors violated the antitrust laws. This interview is from our series Econ Extra Credit with David Brancaccio: Documentary Studies, a conversation about the economics lessons we can learn from documentary films. The ultimate authority on record-breaking achievements is Guinness World Records. A psychology experiment using a rigged Monopoly game reveals how inequality replicates itself. Antitrust agencies cleared both mergers unconditionally. Were just such great people. By comparison, Big Tech's earnings would make it the #18 largest country by GDP, ahead of Saudi Arabia and just behind the Netherlands. This was a 60 MINUTE FACTORY GAME, and I believe I obtained more gold than previous wo. Payola is fundamentally a threat to both. As the head of Made in Memphis Entertainment, Tony Alexander does a little of everything. Experts and listeners on this months film, Capital in the Twenty-First Century, David Brancaccios thoughts on Capital in the Twenty-First Century, Two-thirds of people in advanced economies are poorer than their parents, Inside the NFL cheerleaders fight for fair pay, Your donation today powers the independent journalism that you rely on. What makes a Guinness World Records title? Time and again, critics who opposed the myriad mergers that created the modern, top-heavy music industry told Congress, regulatory agencies, and the public that the deals gave too much power to a few companies, in violation of the antitrust laws. Through increased growth and adoption of software, cloud computing, and ad proliferation, those billions should continue to increase. This new technology offers an opportunity to free animals from exploitation. Charted: Teslas Unrivaled Profit Margins, Ranked: The Top Online Music Services in the U.S. by Monthly Users, Super-Sized Bets for Footballs Big Game (2013-2022). The collection was officially verified on 5 September 2018 and was filmed as part of the BBCs Bargain Hunt TV show. It announced on Tuesday that it had shipped 430 million doses to 91 countries or territories. Brancaccio:I was thinking maybe your test subjects in the Irvine, California, area were just especially entitled twits, but youve tested this elsewhere. It did, however, involve the deadly team of Waller and McDonald once more as they teamed up to win the Melbourne Cup on the incredible mare Verry Elleegant , taking her earnings tally . Theres a lot happening in the world. Largest Collection Of Unique Monopoly Boards Neil Scallan. Spotify and streaming in general was always meant to be a better deal for music fans, an experience tailored entirely to their tastes. Records such as the longest Monopoly game on record are not possible to officially record as record attempts must be planned in advance. The most people playing Monopoly at once, 6. And taxpayer-funded research aided both companies: The National Institutes of Health patented technology that helped make Pfizers and Modernas so-called messenger RNA vaccines possible. Not a world record, but here is mine. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. Revenue from online sales and third-party seller services increased by almost $30 billion, while Amazon Web Services and Amazon Prime saw increased revenues of $15 billion combined. A presumption of dominance for companies with a 30 percent share of any one market would touch many of the industrys corporate titans, exposing them to further monopoly scrutiny. WIRED Opinion publishes articles by outside contributors representing a wide range of viewpoints. Artificially low royalty rates disproportionately hurt musicians whose songs aren't built for mass scale and whose music speaks to specific community needs and values and isnt really playlistable, he says. Through it all, Marketplace is here for you. Over the past 18 months, Spotify has introduced multiple ways to grow the cut it takes from labels and bands. Despite all the talk about Covax, they have been far more interested in bilateral deals, because thats where they make their money, said Richard Kozul-Wright, director of the division on globalization and development strategies at the United Nations Conference on Trade and Development in Geneva. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you. The financial figures that Pfizer reported on Tuesday understate how much money the vaccine is generating. What the industry has done here has been so dramatic and so tremendous, said John LaMattina, a senior partner at the biotech firm PureTech Health who previously spent 30 years at Pfizer, including as head of research and development. The vaccine was, far and away, Pfizers biggest source of revenue. David Brancaccio:So here are these players, one of them doing well because of a flip of a coin, the other one not doing well. Pfizer has kept the profitability of its vaccine sales opaque. But weve got to remember though that life isnt completely a randomized game of Monopoly. Monopoly World Records . WHAT MAKES A GUINNESS WORLD RECORDS TITLE? For more than two decades, Live Nation has been the lynchpin for the vast and now nearly complete consolidation of the live music industry. If youd like to attempt these records in Atlantic City or London, you should contact Guinness World Records. The company has strict standards and policies governing what makes a world record. In the pre-streaming world, a record label would typically get 70 percent of every album sale, while the rest went to pay all of the labor-intensive services required to make, distribute, and sell a record. The companys power to steer business away from rivals is not theoretical. Moderna, which has never made a profit and has no other products on the market, decided to sell its vaccine at a profit. The top seven artists on Spotify each earn around half a million dollars per year from streaming on the service, while Spotify royalties pay the bottom 99 percent of artists an average of $25 annually. This is because he prefers to keep his sets sealed. Hi! Streaming today accounts for 80 percent of all industry income. Suggested read: How Long Should Monopoly Take? He didnt specifically mention the three major labelsUniversal, Sony, and Warner Musicbut his logic would suggest that there was something inherently anticompetitive about them. Donaldson and the other highest-paid YouTubers secured an estimated $211 million in total earnings from June 1 . What makes a Guinness World Records title? Our twin antitrust agencies, the Justice Department and the Federal Trade Commission, reviewed every deal and investigated conduct over and over. To him its no different than elsewhere in an increasingly monopolized economy, and no different than a century ago, when monopolies in railroads, oil, steel, and other essential goods controlled American commerce. Read more about the feat here. Guinness World Records Kids (opens in a new window), GWR Merchandise Store (opens in a new window), Corporate Social Responsibility activities & fundraising ideas, Community engagement & tourism marketing activities. It could just be an incentive for companies to come forward and collaborate, Mustaqeem De Gama, councilor at the South African mission to the W.T.O. The majors continued, unchecked pop music dominance is partially the product of the time-tested blockbuster strategy of overinvesting in a handful of extremely profitable artists and albums. But the majors are now more flush with cash than ever, and theyve used those resources to buy a staggering number of new acts, an average of two a day. Concerts, a crucial space where independent venues and artists have largely sidestepped corporate gatekeepers, are increasingly threatened by Covid shutdowns and the prospect that Live Nation and other Wall Streetbacked giants will either buy them out or put them out of business. 00:39. It turns out that having more money doesnt necessarily make a person more inclined to share their money with others in fact, research suggests the opposite is true. Independent venue owners also worry that Live Nation will begin throwing its cash around. If enacted and successful, the proposed changes would rebalance the music industry away from corporate bigness and toward musics vibrant, crucial middle class. They start banging the table louder with their pieces as they move around. Its final cost will be, View this record Most expensive man-made object, The world's first cash dispenser was installed at Barclays Bank, Enfield, Middlesex, UK, on 27 June, The highest altitude bank branch is a Banco de la Nacin (Peru) office located at 4,387 m (14,393, View this record Highest altitude bank branch, The most expensive glove sold at auction was sold for $420,000 (267,879) and was bought by Ponte 16, View this record Most expensive glove sold at auction, The record for the most expensive bottle is $225,000 (120,000). Some poor countries were initially not hit hard by the virus, and so their governments had less urgency to place orders for the Pfizer vaccine, to the extent that they could afford to pay for the shots. Lets see which countries have the highest proportion of citizens invested in crypto: Topping the list is Slovenia, considered by some the most crypto-friendly nation in the world. Competition and consumer advocates stridently opposed every corporate tie-up along the way; my organization was part of a coalition that argued against the Liberty/iHeart deal last year. But the companys vaccine is disproportionately reaching the worlds rich an outcome, so far at least, at odds with its chief executives pledge to ensure that poorer countries have the same access as the rest of the world to a vaccine that is highly effective at preventing Covid-19. And even if a label pushes a song into the program, Lamb says, listeners will ultimately decide which songs succeed. Beginning at Old Kent Road and finishing at The Angel Islington, the journey took 1 hour, 45 minutes and 35 seconds. In different contexts that weve run this experiment, or versions of this experiment where people just become sort of randomly privileged or randomly disadvantaged, you find very similar differences where, if you have it play out, all of a sudden people that have benefited from a coin flip, start to think that they deserved to win. The shot, which must be stored and transported at very low temperatures, is less practical for hard-to-reach parts of the world than other shots, like those from AstraZeneca and Johnson & Johnson, that can simply be refrigerated. Antitrust enforcers took no action to stop the deal. Though less of their investors seem to engage in crypto trading, countries like France and Germany might have more comparable levels of crypto investment on a pure dollar-basis. In wealthy countries, roughly one in four people has received a vaccine. Per-stream revenues are often microscopic among all streaming services. Created by jeweller Sidney Mobell in San Francisco, USA, the board, houses and hotels are made from 23-carat gold and are decorated with rubies and sapphires. Live music revenue fell 85 percent. Despite their similarities, each of the five technology companies (Amazon, Apple, Facebook, Microsoft, and Alphabet) have very different cashflow breakdowns and growth trajectories. In an early pandemic survey, 90 percent of independent venue owners said they would likely close if the pandemic ended live music for more than six months and no federal support came. It would also make clear that the law applies to companies that abuse their power as buyers of goods, services, and creative output, significant for corporations that control the industrys most important input: the music itself. The year 2017 will be remembered as the year of the ICO. Spotify boasts 150 million subscribers, more than twice that of Apple, and its stock value has doubled during the pandemic. I: The Phantom Menace. The proverbial band was back together, antitrust concerns and all. All rights reserved. Not everyone was interested in the vaccine or prepared to take steps; thus, conversations continue, including working with Covax beyond their initial order of 40 million doses, said Ms. Castillo, the Pfizer spokeswoman. the longest game ever took 70 days, the shortest time is 21 seconds and requires 4 turns, 9 rolls and 21 seconds. The broad middle class of independent artists, record labels, venues, and other small businesses must now rely onand increasingly paymonopolists for access to bands and fans. A good high kick and some practice could crown a new record holder in this strangely specific world record. Check out some of the coolest and quirkiest money world records and videos. The algorithm, tinted by payola, will keep you out of the discovery stream.

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