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 music industry has added another piece of copyright litigation against artificial intelligence developers. The latest salvo comes from the German collection agency echowhich uses the ChatGPT maker Open artificial intelligence A lawsuit was filed against the tech company over alleged unauthorized use of copyrighted lyrics.
Meanwhile, billionaires Bill Ackermanmajor shareholder universal music grouphoping to see the Amsterdam-listed company move to the New York Stock Exchange. UMG is fighting the idea.
elsewhere, black stoneowned Hipgnosis Song Fund Completed one US$1.47 billion Bond issuance backed by Hipgnosis 45,000-Powerful music mix. It is the latest in a growing number of asset-backed deals involving music rights.
In addition, in living nation Investor Day Speech This Week, CEO Michaelrapino Part of Live Nation and Ticketmaster’s job is to “hold accountability for artists” when tickets are expensive or disputes arise when shows are sold out, the company said.
Finally, MBW pointed out this week that TikTok’s SoundOn service and the “established” record industry are quietly competing on global charts.
Here’s what happened this week…
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1) CHATGPT Maker OPENAI, valued at US$157 billion, was sued by GEMA in Germany for using song lyrics without permission
Open artificial intelligencethis $157 billion– American AI giant behind ChatGPT sued by German collection association and licensing agency echo.
GEMA claims that OpenAI “copied[es] Protecting the lyrics of German authors without obtaining permission or paying fees to the authors involved”.
According to the organization, the lawsuit seeks to “demonstrate that OpenAI systematically used GEMA’s skills to train its systems.”
GEMA stands for surrounding copyright 95,000 German members (composers, lyricists, music publishers) and more 2 million Global rights holders…
Shipping to USA/Alamy
2) Bill Ackman wants to move Universal Music Group’s financial headquarters from Amsterdam to the United States. Universal warned that might not be possible.
billionaire Bill Ackerman He is one of the most powerful behind-the-scenes players in the modern financialized music copyright industry.
according to universal music group2023 Annual Report, Ackman, from pershing square holdings inc.control 10.25% of company shares, making him the second largest individual shareholder of Universal Group Vincent Bollore.
Now Ackermann is calling for the Universal Music Group home to be structurally demolished and listed publicly in Amsterdam. Ackerman wants both to move to the United States.
UMG says at least some of these requirements may not be possible…
black stoneof Hipnos Completed successfully US$1.47 billion Music copyright assets support securities transactions (i.e. bond issuances).
ABS trading, abbreviation Lyra 24-2investment giant Blackstone raised $1.47 billion in debt financing through royalties 45,000-song Hipgnosis Songs Fund Portfolio acquired in July.
Blackstone acquired the assets of Hipgnosis Songs Fund from HSF’s then-public shareholders in a transaction valued at US$1.584 billion.
According to the announcement confirming the completion of the ABS transaction on Monday (November 11), the proceeds from the issuance will be mainly used to “repay existing debt in full and support future acquisitions”…
4) TIKTOK’S SOUNDON is signing artists…and competing with labels on the charts.
Tik Tok Recently canceled with Merlinblaming “Merlin’s operational challenges in the past, as the music delivered was not subject to copyright quality control.”
Their deal officially expired last month (October 31), with a number of prominent independent distribution companies including United Masters and Ditto musicSign transactions directly Byte bounce.
But there’s another, quieter battle going on in the global charts: TikTok’s Voice control Comparison of the service industry and the “old” record industry.
Just the other week, SoundOn A&R executive Josh Martial Highlights various recent achievements of SoundOn artists. One of the achievements is: recently in SpotifyGlobal daily virality chart Charlie Geer single her eyes…
5) LIVE NATION’S JOB IS TO “PUNCH FOR ARTISTS”… AND 3 OTHER THINGS WE LEARNED FROM MICHAEL RAPINO AT THE COMPANY INVESTOR PRESENTATION
In today’s popular narrative, live countryof Ticket Master is a villain, squeezing every last penny out of concertgoers who just want to see a show.
But this statement is misleading because – in the view of Live Nation CEO Michael Rapinoe – It misunderstands what Ticketmaster and Live Nation more broadly is really about.
“We are a B2B company,” Rapinoe said at the company’s 2024 investor briefing on Wednesday (November 13).
“We have two B2B [business-to-business] Clients, Ticketmaster venues and artists in the concert department”…
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
