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.
beef between Drake and Kendrick Lamar In a serious turn of events this week, Drake filed multiple legal petitions alleging universal music group and Spotify Artificially inflating Lamar’s hits unlike us Through “robots” and “payola”. UMG categorically denies the allegations.
Incredibly, this isn’t even the most high-profile artist vs. label battle of the week. At a hastily held press conference in Seoul, K-pop group new jeans announced that they were leaving their label, moveowned i like it. HYBE responded by saying NewJeans had no reason to leave and their contract remained “fully valid.”
Elsewhere in HYBE, the Korean entertainment giant’s shareholders and board approve appointments Shen Xuanzheng To its first-line brand president big musichome base station and x together tomorrow.
Elsewhere in the promotion, Warner Music Group declare Dan RosenPresident Warner Music Australiawill now also lead the region’s publishers division Warner Chappellunifying the recording and publishing sides of the business under one leader.
at last, MBW Dive into regulatory filings to discover key management personnel Spotify Already cashed around $1.1 billion The company’s stock value this year, including $283 million Sold by CEO Daniel Ek Alone.
Here’s what happened this week…
1) DRAKE files legal petition again against ‘Not Like Us’; accuses Universal of ‘improper business practices’ including ‘PAYOLA’ program that made Kendrick Lamar’s diss song a hit. Read the full document.
Jacob Jampa/Shutterstock
This is turning into a heated debate.
Monday (November 25), Drakethrough his company FROZEN MOMENTS LIMITED.filed a legal petition in New York alleging universal music group and Spotify Artificially inflated streaming numbers for Kendrick Lamar’s hit song unlike us – A diss song about Drake.
Universal Music Group responded: “The suggestion that Universal Music Group will stop at nothing to undermine any of its artists is offensive and untrue. We use the highest ethical practices in our marketing and promotions. In this pre-litigation filing, regardless of No amount of contrived, ridiculous legal arguments can hide the fact that fans choose the music they want to hear.
Drake’s lawyers also filed a second Legal petitions filed against UMG on Monday, this time in Texas…
2) NEWJEANS just held a press conference to announce that they have left HYBE’s love interest… but the K-pop giant says their deal is still “fully valid”
Provided by Adore
if you think so Drakelegal action universal music group It’s this week’s artist vs. label battle, think again.
In Korea, the future moveprivate label i like it K-pop girl group plunged into uncertainty after new jeansThe brand’s main source of revenue announced on Thursday (November 28) that it was terminating its contract with ADOR.
However, ADOR said NewJeans had no reason to terminate their exclusive contract and remains “completely valid”.
During a hastily announced press conference on Thursday night (November 28), panellists Hanny Says ADOR “has neither the ability nor the will to protect” NewJeans…
3) Key Spotify executives have cashed out more than $1 billion in stock this year…including $283 million from DANIEL EK.
Shipping to USA/Alami
Spotify Co-Founder and CEO Daniel Ek Did it again.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ek sold 75,000 shares of Spotify stock for USD on Wednesday, November 20 $34.8 millionplus 75,000 shares $36.1 million November 26th.
SEC filings show that so far in 2024, Ek has sold 875,000 shares of Spotify stock, totaling $283 millionthe company’s top executives and former top executives offloaded huge sums of money $1.1 billion The value of Spotify stock since the beginning of the year.
This is almost the same as US$1.16 billion Spotify pays Warner Music Group 12 months to end of September…
4) Seon Jeong Shin promoted to President of HYBE’s BIGHIT MUSIC, the brand home of BTS and Tomorrow X Together
Provided by BIGHIT/HYBE
South Korea-based entertainment giant move Major leadership changes announced big musicus Shen Xuanzheng as the brand’s new president.
BIGHIT MUSIC is the flagship record label of HYBE (formerly known as Big Hit Entertainment) and the label of K-Pop superstars base station and x together tomorrow.
Seon Jeong Shin served as the brand’s general manager (GM). On November 26, the shareholders’ meeting and the board of directors approved the promotion of the senior executive.
executor replacement Shin Young JaePresident of BIGHIT MUSIC since 2020…
5) DAN ROSEN appointed President of Warner Music Group Australia’s Recording and Publishing Division
Warner Music Group announced Dan Rosencurrent president Warner Music Australiawill expand his role to include Warner Chappell Music.
The move unites the leadership of Australia and New Zealand’s recorded music and publishing businesses.
Rosen will report to both parties Guy MutterCo-Chairman and CEO of Warner Chappell Music, and Simon RobsonPresident of Recorded Music for WMG Europe, the Middle East and Africa, is also currently responsible for recorded music operations in Asia Pacific.
WMG said the move underscores its commitment to “creating a new, all-encompassing home for Australia’s artists and songwriters, while retaining each division’s unique identity”…
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