Welcome to Music Business Global’s weekly roundup – where we make sure you catch the five 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 news this week is dominated by the closure of two independent music platforms. The first one is Tik Tokof subscription music streaming apps, tiktok musicthe social media service revealed that it will shut down at the end of November.
The second one is Warner Music GroupEntering the field of DIY distribution. MBW It was confirmed this week that WMG would be shutting down Level musicit is Tuning Competitors, the platform has stopped accepting new submissions next year.
Elsewhere in the music industry, major players are planning for the future through restructuring and mergers and acquisitions. One example: WMG unveiled its new leadership team and corporate structure this week atlantic music group Under the leadership of incoming C.E.O. Elliot Grange.
Significant changes have also occurred universal music groupand declare Deacon Steiner Will serve as Chairman and Chief Executive Officer Universal Music UKfollowing news earlier this week david joseph Will leave the company.
At the same time, UMG also completed a visit to Thailand RS Group for US$65-70 millionsuggesting that more M&A transactions are underway on the horizon.
Here’s what happened this week…
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1) Deutsche Bank says TikTok music shutdown is a win for Spotify
Tik TokThis week’s announcement that it was discontinuing its premium music streaming app sent shockwaves through the music industry.
As first reported MBW, tiktok music It will close at the end of November in Indonesia, Brazil, Australia, Singapore and Mexico (the five markets where the app is available).
TikTok said the strategy behind the decision was to focus its resources on “Add to music app” feature that allows TikTok users to save songs they discover on the platform to the streaming service’s playlist, e.g. Spotify, Amazon Musicand apple music.
Spotify, in particular, is expected to benefit from TikTok Music’s exit. That’s according to a new research report Deutsche Bankcalling TikTok Music’s closure “a clear positive for Spotify”…
2) Warner Music Group is shutting down its TUNECORE competitor LEVEL MUSIC
tiktok music It’s not the only music industry platform to announce closures this week.
MBW Confirmed Warner Music Group Closing Level musicits digital distribution platform for self-publishing artists.
horizontal music, a Tuning A competitor launched by WMG in 2018, it provides distribution to major streaming services such as Spotify and apple music and social media platforms such as Tik Tok and Instagram.
In an email sent to Level Music users on Thursday (September 26), MBWthe platform confirmed that it “has made the difficult decision to close Level in 2025.” The email states that Level will no longer accept new content submissions for distribution or edits to existing versions, effective today…
Photo: Logan Mock
3) Revealed: Atlantic Music Group’s new leadership structure under new CEO ELLIOT GRAINGE
Warner Music Group Already revealed atlantic music group (AMG) New leadership team and broader corporate structure under incoming AMG CEO Elliot Grange.
Grainge takes over as chief executive following his departure on October 1 Julie Greenwald (Atlantic Music Group Chairman) later this month.
Warner said in a press release on Monday (September 23) that Atlantic Music Group will “combine the strengths of key functions of AMG Records” atlantic records, 300and Elektracreating “a central set of artist development services.”
These functions at the group level include creative, legal and commercial affairs, promotions, press and media strategy, digital marketing and analytics, sales and streaming, A&R research, A&R management and marketing operations…
4) DICKON STAINER appointed chairman and CEO of Universal Music UK
universal music group Chairman and Chief Executive Officer Sir Lucian Grange announced this week Deacon Steiner Has been appointed Chairman and Chief Executive Officer Universal Music UK. Steiner succeeded david josephHis resignation was confirmed on Monday (September 23).
In his new role, Steiner is responsible for the overall management and strategic direction of Universal Music UK.
Departments include Island EMI Label Group, Polydor Label Group, deka recordsrecently established Audience and Media Departmentalso Abbey Road Studioswill report to him.
For the past 10 years, Steiner served as president and CEO of Universal Music Group (UMG) Global Classics and Jazz department, splitting his time between London and New York…
5) Universal Music Group just completed a $70 million acquisition of Thailand’s second-largest recorded music catalog…while hinting that more M&A deals in “high-potential” markets are on the way.
last year, universal music group Got 70% Shares in the catalog of recorded music by Thai record companies RS Group About $45 million (Plus a potential bonus of about $5 million). then, MBW Tell you “Universal Music Group is expected to carry out more M&A activities in Asia.”
Well, that’s not the boldest prediction we’ve made. But, well, we’re not wrong.
UMG has now confirmed that it recently completed the remaining acquisitions 30% RS Group’s catalog, fully owned recording portfolio.
In other words, UMG has just completed the acquisition of Thailand’s second largest record catalog for a total sum of approx. US$65-70 million.
Interesting. But the bigger story is what happens next…
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