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.
Create a music group The company has been one to keep an eye on for years, especially after a funding round earlier this year that saw it achieve unicorn status: a valuation of $1 billion. Create continues to make acquisitions and investments this week, 50% Holds a stake in London-based EDM record label and publisher Enhanced.
Also this week, MBW reported sony music Boomplay has withdrawn its entire catalog from Africa-focused streaming service Boomplay, including music released by The Orchard and AWAL. Other rights holders also appear concerned about the platform’s late payment of royalties.
Meanwhile, the saga of the U.S. vs. Tik Tok This week, the social media platform filed an emergency motion to postpone the January 19 deadline by which the app must be divested from Chinese parent company ByteDance. The government responded to the filing by urging the court to deny TikTok’s motion.
Also this week, MBW published an interview with the founder and CEO of UnitedMasters Steve Stout, Following last week’s news Gatta onlySongs released independently through UnitedMasters were the most popular songs globally on TikTok this year. Half of the top 10 biggest tracks globally on TikTok in 2024 will be through independent (i.e. non-primary) releases, while 4 of the top 5 biggest tracks on the platform this year will be through independent releases.
Finally, the founder of MBW Tim Ingham Deep dive into Drake’s legal action against Universal Music Group (UMG) over Kendrick Lamar’s diss song Not like us.
Here’s what happened this week…
Picture: Lucy Moyle/Enhanced Edition
1) Create MUSIC GROUP, worth US$1 billion, acquires 50% stake in British record label and publisher
It’s been a busy year for California-based companies Create a music group.
In June, it closed a $165 million An investment round led by private equity firms Ford Flexpointwhere the valuation of Create is US$1 billion.
Shortly thereafter, it announced the acquisition of a Manchester, UK-based record label and publisher Austereo.
Now the company is making another investment in a British record label and publisher, 50% Holds shares headquartered in London Enhanced…
2) Sony Music pulls catalog from Africa-focused music streaming service BOOMPLAY
It has long been hailed as one of Africa’s most exciting music streaming platforms – with over 98 million As of the end of 2023, the number of monthly active users will show a steep growth trend.
But now sensationRelations with major music rights holders around the world look rocky.
MBW Confirmed sony music Its entire catalog was withdrawn from the service this week, including by orchard and start.
At the same time, sources revealed MBW Other rights holders are increasingly concerned about the platform’s overdue royalty payments…
Image source: Ascannio/Shutterstock
3) The U.S. government asks the court to reject TikTok’s motion to delay legislation that could result in its apps being banned from the market
The U.S. government has asked a court to deny TikTok’s emergency request to delay a law that could ban the app in the United States unless its Chinese owner sells the platform by January 19.
On Friday (December 6), a federal appeals court dismissed TikTok’s lawsuit challenging the law. TikTok said it would appeal the Supreme Court ruling.
TikTok and its parent company ByteDance filed an emergency motion on Monday (December 9) asking for a temporary injunction to delay the implementation of the law, arguing that “the Supreme Court, as the only court with appellate jurisdiction over this lawsuit, should Have the opportunity to make a decision”. Should we review this extremely important case…”
4) Steve Stoute talks indie, emerging markets and how UnitedMasters artist FloydyMenor is creating the biggest song for TikTok in 2024
The encroachment of independent distribution into the market share of major mainstream streaming media is one of the most compelling topics in the modern industry.
The success of FloyyMenor and Cris Mj’s Gata Only is a prime example of how the balance of power is shifting.
TikTok confirmed last week that a hit song from Chile, released through independent distribution company UnitedMasters, was the most popular song globally on its platform this year…(MBW)
5) Turn on…Drake, Disgust, and Discovery modes.
Image: Sam Kovac/Alami
Well, I am disgust.
Seven years ago, I uploaded my musical masterpiece, pink tintto the streaming site.
You may have assumed pink tint Just a cheap news stunt; a tool global music business Prove how simple it is Buy streaming exist Spotify.
If so, shame on you. pink tint actually mine bohemian rhapsody.
However except 10,000 streams I bought it (easy!) and Spotify users completely ignored it.
No one listened. No one cares…
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