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.
of prosperity music asset-backed securities In the spotlight this week, there is news that harmony Completes latest ABS deal, music company raises funding US$850 million.
This week we also learned duet bulge $80 million Through the ABS deal, the company describes it as the first securitization backed by independent music rights.
When it comes to music investing, a new Kroll Bond Rating Agency Report attention Hipgnosis Song Fund directory in US$2.36 billionAbout US$150 million When exceeding HSF’s enterprise value black stone Got it.
Elsewhere in the industry, it’s been a busy week universal music groupwhich reported third-quarter earnings on Thursday (revenue was US$3.15 billionup Annual increase of 4.9% on a constant currency basis) and announced Executive Vice President, Chief Financial Officer and President of Operations Boyd Muir Has been promoted to the newly created position of Chief Operating Officer.
UMG also announced a strategic partnership with an AI music startup Clay,and Virgin Music Group The unit makes another major international acquisition, snapping up industryIt is an artist and record company services and copyright management business focusing on China and India.
at last, Reuters reports A U.S. appeals court ruled on Friday (November 1) that Ed Sheeran’s hit single think out loud No illegal copying of Marvin Gaye’s Let’s get started, Upholding the lower court judge’s previous decision dismissing the plaintiffs’ structured asset sale lawsuit.
Here’s what happened this week…
1) HIPGNOSIS SONGS FUND CATALOG is valued at just $2.36 billion…about $150 million higher than HSF’s enterprise value at the time of Blackstone’s acquisition
In July, investment giants black stone obtained Hipgnosis Song FundIn a transaction, the value of assets received by HSF’s public shareholders at the time US$1.584 billion.
according to MBW‘s analysis shows that the transaction (when you consider HSF’s debt) adds 45,000 The enterprise value of the song is approx. $2.2 billion.
The same portfolio (originally accumulated by the former Hipgnosis boss between 2018 and 2021) Merck) has just been revalued, courtesy of a new report Kroll Bond Rating Agency.
Guess what? Not only does this indicate a significant increase in the value of the songs Mercuriadis acquired at HSF, it also suggests that Blackstone got some bargains when buying them…
Elena/Shutterstock
2) CONCORD completes $850 million asset-backed securities transaction to “drive strategic growth and acquisitions”
harmony Latest asset-backed securities (ABS) deal successfully completed, company raises capital US$850 million Debt financing through private securitization backed by its catalog of music rights.
The company said on Monday (October 28) that the transaction will “drive strategic growth and acquisitions[s]” and emphasized its “continued efforts to strategically develop and monetize its music assets and position the company as an important force in the music industry.”
Concord’s ABS transactions securitized through royalties from its catalog 1 million Works, master recordings and related assets, including works recorded by The Beatles, Carrie Underwood, trick, creed, Genesis, kiss, Mike + Mechanic, Otis Redding, Phil Collins, Pure white T-shirt, rapid eye movement sleep, REO high-speed station wagonand rolling stones…
universal music group Published financial results for the three months to the end of September.
The top numbers from the world’s largest music rights company’s third-quarter results: Universal Music Group (UMG) revenue was 2.87 billion euros ($3.15 billion) in all departments (including recorded music, publishing, etc.) this season. Revenue figures rose in the third quarter Annual increase of 4.9% Calculated at a fixed exchange rate.
Other highlights from UMG Season 3 include Annual increase of 8.2% The company’s subscription streaming revenue has grown significantly.
During the company’s quarterly earnings call, Chairman and CEO Sir Lucian Grange declare Boyd MuirUMG’s executive vice president, chief financial officer and president of operations has been promoted to the newly created position of chief operating officer…
Abraham Joff
4) Universal’s Virgin Music Group acquires industries to expand its business in China and India
Virgin Music Group, universal music group’s global independent artist and label services division has been acquired again.
This time, VMG swooped in industryIt is a company focusing on artist and record company services and copyright management business in China, India and other “high potential markets”.
The deal marks the latest global M&A move by Universal’s Virgin Music Group and follows the acquisition Saban Music Latin January.
As part of the deal, Outdustry founder Ed Chester Appointed Senior Vice President of International Strategy at Virgin Music Group, while continuing as CEO of Outdustry…
Image source: yakub88/Shutterstock
5) ED Sheeran defeats “Thinking Out Loud” copyright appeal
It is reported ReutersThe U.S. Court of Appeals ruled on Friday (November 1) that Ed Sheeran’s hit single “Thinking Out Loud” did not illegally plagiarize Marvin Gaye’s song Let’s get started, Upholding the lower court judge’s previous decision dismissing the plaintiffs’ structured asset sale lawsuit.
In May 2023, U.S. District Judge Louis Stanton dismissed the case brought by Structured Asset Sales LLC, overturning the original ruling that the lawsuit should have been tried by a jury.
Judge Louis Stanton had heard a separate case involving Sheeran and Gaye’s identical tracks. The jury in the case ruled in favor of Sheeran and against the estate of Ed Townsend, who co-authored Marvin Gaye’s book. Let’s get started.
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