welcome to world music businessweekly roundup – guaranteed to catch up on the 5 biggest stories making headlines over the past 7 days. MBW Roundup is supported by: Centriphelps over 500 of the world’s best-selling artists maximize income and reduce touring costs.
The first week of a new year tends to be quiet in the music business world, but the first week of 2024 is proving to be a busy week for the music industry. universal music groupat least in terms of its publication.
The world’s largest music rights holder announced three major deals earlier this year. And each of them, in some way, Ongoing globalization Musical talent, genres, and consumption trends.
First, UMG confirmed that it has entered into new multi-year license agreements with: tencent music entertainmentis the largest owner of music streaming platforms in the rapidly growing Chinese market.Under the agreement, a streaming platform owned by TME. QQ Music, kugo music, Kuwo Music and we sing will continue to have access to UMG’s music catalog.
Later that week, news came that UMG was purchasing a portion of the recording catalog and music rights. oriental star agency (OSA) is a label headquartered in Birmingham that played a key role in its development. british bangla It launched the careers of many British and South Asian artists, including some legendary artists. Nusrat Fateh Ali Khan.
Finally, UMG’s Global Indie Artist and Label Services division virgin music groupto acquire the Los Angeles-based company. Saban latin music. Under the agreement, VMG will acquire his Saban Music Latin catalog and the selected Saban artists will release future albums.
In other news, the annual MBW Entrepreneur of the Year An award has been launched in connection with goldman sachs. The first winners for 2023/2024 are: Meng Lu KuokFounder and CEO of Singapore Caldecott Music Group. The owner of Caldecott is band lab A music production platform that is a true disruptor in the music space. 60 million With registered users 17 million New tracks are created every month.
in Q&A At MBW, Meng declared that she hoped that would happen. 1 billion music creators It’s expected to be available worldwide by 2030, but „it could be even sooner.“ However, he predicted, „Just as the definition of „photographer“ changed with the advent of smartphones, the definition of „music creator“ and „musician“ will also change.“
In other news from late last month (in case you missed it), Germany-based BMG Continued as CEO thomas kosfeldBMG’s announcement that it is divesting its two live music companies fulfills its mission to refocus the company on music copyrights and recordings. undercover and Karoreturn to minority shareholders.
universal music group 2024 kicked off with a big deal announcement. The world’s largest music rights holder has confirmed it has signed a new multi-year licensing agreement with the US. tencent music entertainment (TME).
Under the agreement, TME will continue to have access to UMG’s music catalog. QQ Music, kugo music, Kuwo Music and we sing. This broad partnership includes music streaming in Dolby Atmos and high-definition (HD) formats.
Tencent Music Entertainment is the owner of China’s largest music streaming platform. As of the end of September 2023, the company’s online music service is 103 million Users who are paying.
TME is majority owned. tencent holdingsthen lead a consortium (Concerto Partners LLC) own 19.92% Universal Music Group stock…
universal music group (UMG) takes another step in its ambitious expansion into South Asian and South Asian-influenced music.
The world’s largest music rights holder announced on Thursday (January 4) that it is acquiring the entire catalog of a UK-based South Asian music label. oriental star agency (OSA Co., Ltd.) This agreement includes all of the label’s recordings and „retained“ publishing rights.
OSA operated from its headquarters in Birmingham for approximately 50 years, after which the headquarters were sold. High Tech Music Co., Ltd.. In 2017.
Includes some catalogs 18,000 With its songs, concerts and video recordings, the label played a key role in the development of the British Bhangra genre, launching the careers of numerous British and South Asian artists.
OSA was founded in 1966. Muhammad Ayyub His brothers emigrated from Pakistan to the West Midlands in England in 1961. The business started by importing records from India and Pakistan to the Birmingham area.
“There is a lot of room for growth in Latin America and we have made great progress. We like our prospects there.”
it is, JT Myersco-CEO of virgin music group (VMG), in an interview with MBW published late last year.
This week, we got some news that shows just how committed Myers and his co-CEOs are at VMG. pastor nutabout Latin music and its artists.
VMG, the global indie artist and label services division of Universal Music Group, has announced an acquisition. saban music latin.
Under the terms of the transaction (fees not disclosed), Virgin Music Group will acquire Saban Music Latin’s catalog and also release future albums by select Saban Music Latin artists.
VMG currently operates divisions in several Latin markets, including Mexico, the Andean region, Chile, Argentina, Brazil, Spain and Portugal. In the US, we also operate a Latin division…
MBW Entrepreneur of the Year The 2023/2024 award (sponsored by Goldman Sachs) is Meng Lu KuokFounder and CEO based in Singapore caldecott music grouphome of music technology companies band lab technologies – and its flagship music production platform, band lab.
MBW explained in January 2023 how disruptive BandLab is becoming. 60 million Registered users on the platform, cumulatively approx. 17 million New tracks added every month.
According to Meng, this is just scratching the surface of a future where the number of music „creators“ in the world is equal to the number of music „consumers“ and these two terms are to some extent interchangeable. That’s what it means.
Meng explains in the Q&A below: Billion Music creators could be there by 2030 or even sooner.
“However, please note that just as the advent of smartphones has changed the definition of ‘photographer,’ I believe that the definition of ‘music creator’ and ‘musician’ will also change…”
BMG We have agreed on terms that will allow the two companies to continue. undercover and Karotransferred to minority shareholders.
This news follows a recent announcement by BMG CEO. thomas kosfeld BMG plans to focus on two core service areas: music publishing and recording.
Korsfeld announced a new global strategy to be „more efficient and effective“ at BMG in October.
The CEO’s plans already see changes, including the closure of New York-based BMG’s theatrical production program. BMG is not currently actively commissioning new films.
Additionally, BMG has integrated new services. Recorded music based in York and Canada We are moving our operations to our Los Angeles office.
And BMG has eliminated its centralized international marketing department for recordings, previously led by the company’s EVP Global Repertoire. Fred Casimir… (MBW)