Welcome to Music Business World’s weekly roundup – where we make sure you catch the 5 biggest stories that have made our headlines over the past seven days. MBW’s review is supported by China Travel Servicehelping more than 500 of the world’s best-selling artists maximize their income and reduce touring costs.
The biggest news in the industry this week is universal music groupAcquisition of European independent giants [PIAS]. The label services arm of what is now a former independent record label will be working with Virgin Music Groupand its label business will remain an “autonomous, independent” entity run by its co-founders kenny gates.
In the meantime, we need to talk slowly.
It’s one of the biggest global hits of all time and, by some measures, the biggest Latin music hit of all time.
in, Luis Fonsi and daddy yankee Tell the object of their wish that they wish to “sign the walls of your labyrinth” (“firmar las paredes de tu laberinto”). Ahem.
recent weeks yankeesreal name Ramon Rodriguezhas been using his autographs for less salacious purposes: signing a deal to sell Concord parts from his back catalog in a deal worth an astonishing amount $217 million.
(Today – October 18 – it was revealed – yankees is a mysterious Latin artist with whom Concord comes to terms $217.3 million-dollar deal, as revealed in a recent Kroll report.
Meanwhile, K-pop giant move After a dramatic week, record label reportedly unhappy with HYBE Weavers Fan platform plan occupation 60% Proceeds from its new paid subscription membership.
HYBE is also scrambling to refinance this week. US$300 million The company fell into debt trouble after creditors demanded early repayment of a series of convertible bonds.
Elsewhere, TikTok’s feud with Merlin continues… MBW published some well-publicized observations about the feud and the factors behind it.
at last, litmus music Announced its latest major deal, acquiring the recorded music and publishing rights to the following songs Randy Newman.
Here’s what happened this week…
1) Kenny Gates [PIAS] Sales: We have a great future…fuck those haters.
[PIAS]The European independent music giant with a history of 42 years has been fully acquired universal music group.
With the deal, UMG now has 100% of [PIAS] groupinitially obtained 49% Co-founder of the company, kenny gates and Michael Lambert2022.
after sale, [PIAS]label services department, [Integral]to merge with Universal Pictures Virgin Music Groupsignificantly strengthening VMG’s presence, supply chain and customer base in the EU, UK and beyond.
Gates will join VMG’s board of directors.
at the same time, [PIAS]Owned and associated label operations, [PIAS] tag group (PLG), will also be owned by UMG – but importantly, it will operate as a “fully autonomous, independent company” with Gates as CEO…
2) Who sold CONCORD’s $217 million product catalog? Daddy Yankee.
Earlier this week, global music business Concord has spent $217.3 million to buy the mysterious catalog of a Latin music artist and songwriter, it has been revealed.
This is no longer a mystery. The relevant artists are daddy yankeepuerto rican superstar The final Tour of Spain world tour produced an estimated $198 million 2022.
harmony has acquired the rights to parts of the reggae star’s music publishing and recorded music catalog, including his own hits, including Rest time, gas, and calmly, plus his featured artist role Slowly.
In addition, the acquisition also covers certain name, image and likeness (NIL) rights.
Image source: Shutterstock
3) On…TikTok, Merlin, and the indie sector’s awkward arranged marriages
Behind the scenes for the past two years, Tik Tok Already warned Merlin on multiple occasions Hundreds of active tracks The group’s tracks (that is, tracks uploaded by its members) have been flagged for copyright infringement.
Learn how this is possible with Merlin— As a proud participant in the fight against streaming scams – some key background information first.
Merlin has more than double scale over the past 16 years. However, questions remain about the costs of such expansion. Merlin’s cohesion As a membership organization.
Kathy Hutchins/Shutterstock
4) HYBE’s WEVERSE will launch a new super fan subscription level… and keep up to 60% of your funds
K-pop giant moveSuper fan platform Weavers A series of new, higher-priced membership tiers will be rolled out to users on December 1.
However, HYBE’s music rights holders have a problem.
According to a source korea heraldHYBE has informed partner record labels using Weverse that it will 30% and 60% Earnings from new membership programs, depending on level.
This news comes in the same week that HYBE is almost busy refinancing US$300 million The debt crisis was triggered by a fall in the company’s share price after existing bondholders demanded early repayment of a series of convertible bonds…
Pamela Steen
5) Carlyle-backed Litmus Music acquires Randy Newman’s publishing and recorded music rights
litmus music Been very busy.
Since the end of 2022, the company is supported by Carlisleof Global Credit Platform – Catalog has been obtained from: benny blanco, Keith Urbanand Katy Perry.
Earlier this year, news broke that Litmus had spent nine figures to acquire workincluding rights to the music catalog juice world, Ozuna, Maluma and Alejandro.
On Thursday (October 17), Litmus announced its latest major transaction: acquisition Randy NewmanHis share of recorded music and published…
MBW’s weekly roundup is powered by Centtrip, a company that helps more than 500 of the world’s best-selling artists maximize their earnings and reduce touring costs.global music business
