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.
last week, Tik Tok made headlines for shutting down its subscription music streaming service.
The Bytedance-owned app made headlines this week for terminating relicensing talks with independent representative Merlin.
In other big news this week, pink floyd Agreed to sell its catalog of recorded music to Sony Music in an agreement valued at approx. $400 millionsources revealed.
Meanwhile, in Los Angeles, talent giant Creative Artists Agency (CAA) filed a lawsuit against the management company Scope Media Partners, It accused the company of “stealing” confidential information and being an “unlicensed talent agency.”
Elsewhere this week, we reported on Sony Music GSA undergoing major restructure under new CEO Christoph Behmalthough Spotify Started notifying subscribers in Canada that their market prices were increasing.
Here’s what happened this week…
1) TikTok: We terminate MERLIN negotiations due to concerns about streaming fraud
It’s true: MBW has confirmed that TikTok recently canceled relicensing discussions with Merlin, even though the independent organization’s current agreement with the Bytedance platform is set to expire on October 31.
TikTok did not reach a blanket agreement with Merlin, but instead invited individual Merlin members to negotiate direct licensing agreements with its team.
Merlin claims that its members represent 15% Market share of global recorded music consumption. Then why? Tik Tok Leave the negotiating table?
The reason is a bit shocking: As the conversation about streaming scams grows in the industry, Tik Tok Questions have been raised about the legality of music provided by some to its platform Merlin member.
2) Sources say Sony reached an agreement to acquire Pink FLOYD CATALOG for US$400 million
The deal is done: Pink Floyd agreed this week to sell its recorded music catalog to Sony Music in a deal worth about $400 million, sources said.
It is understood that the deal includes Floyd’s catalog of recordings, neighboring rights and “name and likeness rights.” It does not include publication rights.
The news was first reported by the Financial Times on Tuesday (October 1)…
3) Range Media partners sued by talent giant CAA for allegedly stealing confidential information
A blockbuster legal battle is brewing in Hollywood.
Artist giant CAA (Creative Artist Agency) filed a lawsuit this week against management company Range Media Partners, accusing it of “stealing confidential information” before the latter was established in 2020.
The lawsuit, filed in Los Angeles Superior Court on Monday (September 30), also claims that Range is “an unlicensed talent management company built on deception…”
4) Sony Music GSA reorganization under new CEO Christoph BEHM
Sony Music GSA recently underwent a leadership shake-up, with former boss Patrick Mushatsi-Kareba leaving the company and being replaced by Christoph Behm.
Now, just a month into his new role, Bem is enacting sweeping changes to the business that will see Sony Music’s GSA Records join three new “premier A-list label groups,” including Ariola Records, Columbia Records and RCA label group.
Additionally, Sony Music GSA will now be overseen by a newly formed GSA management team…
5) Spotify raises prices in Canada amid controversy over streaming tax proposal
Spotify has informed Canadian customers that it will be increasing subscription prices on its marketplace.
The news comes amid market debate over proposals to tax non-Canadian streaming companies on their domestic income.
In June, the Canadian telecommunications regulator CRTC announced that starting this fall, non-Canadian streaming services will need to pay a 5% tax on their Canadian income, which will be invested in several different funds and broadcasters that support Canadian music creators … …
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