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 big news this week, of course, was the end to a months-long licensing dispute. universal music group (UMG) and tick tockUMG's recording and publishing catalog has disappeared from the short video platform.
In a memo to staff, UMG Chairman and CEO Sir Lucien Grainge He said the new deal with TikTok means more money for artists and songwriters.
But the disagreement between TikTok and the music industry is far from over. This week, National Association of Music Publishers (NMPA) and TikTok's contract has expired.
This means that music from independent publishers represented by NMPA is currently Not allowed for use on TikTokUnless those publishers have their own unilateral deals with the platform.
Meanwhile, another battle is brewing between the music industry and the big platforms, and this one is over. spotify's decision to classify premium subscriptions as music/audiobooksbundle” which means the service will mechanically pay lower royalties to U.S. songwriters and publishers.
And the giant of K-Pop Hibe is embroiled in its own disagreements, including Min Hee JinSublabel HYBE CEO Who is Adore? He is said to have planned to separate ADOR from its parent company.
Finally, the competition between concorde and black stone obtain the portfolio of Hypnosis Song Foundation This week takes a different turn, with Blackstone $1.57 billion bid.
Thursday's big news: universal music group and tick tockconfirmed in a joint statement that UMG had signed a new licensing agreement three months after removing its recording catalog from the service.
What does this new deal mean for UMG and its artists and songwriters? Standout headings: more money.
This fact was confirmed and further elaborated on in an internal memo by the UMG Chairman and CEO. Sir Lucian Graingeissued to Universal employees on May 2 and obtained by MBW.
Grainge wrote in the memo: „Under the new agreement, artist and songwriter compensation will be greater than under the previous TikTok deal, and the total amount UMG artists and songwriters will earn from this partnership. will more closely align with other platforms in the social music category. „
News of the deal was announced just before UMG Announcing first quarter 2024 earningsrepresents the total revenue of Euro 2,594 million euro (2,816 million USD), Up 7.9% compared to previous year In a fixed currency. EBITDA increased 95.2% compared to previous year in fixed currency 490 million euros ($532 million)…
of National Music Publishers Association (NMPA) license agreement tick tock – representing the music publishing rights of multiple independent music publishers – officially expired on Tuesday (April 30).
The US trade body told its members last month that it had no plans to extend the agreement and that they would need to „engage directly“ with the platform if they wanted to continue licensing music to TikTok beyond the April 30 deadline. I told you.
NMPA President and CEO david israel When I checked with MBW this week, NMPA He said he was „not involved in the contract extension.“
This means that as of May 1, music managed by indie publishers represented by industry groups that have not unilaterally agreed to new direct contracts with TikTok will no longer be allowed on the platform. means…
black stone They are putting their money where their mouth is.
last week, concorde – Partially funded Apollo Global Management – launched 1,511 million USD cash bid on the portfolio of Hypnosis Song Foundation.it was equivalent to US $1.25 per share.
On Monday (April 29), the boards of Blackstone and HSF jointly announced a new offer from Blackstone worth approximately 10 million yen. $60 million That's more than Concord's latest bid.
blackstone bid 1,572 million USD – $1.30 per share – In cash 100% Part of HSF's share capital.
The Hipgnosis Songs Fund Board of Directors is currently Recommend Blackstone Offers rescinds previous recommendation to shareholders of Concord's $1.25 per share offer…
K-Pop giant 1 week ago HibeReport disappointing financial results (Reduction in income 12% compared to previous year Net income will decrease in the first quarter of 2024 87.5%), stories have surfaced about conflicts between the company. Min Hee JinSublabel HYBE CEO Adore.
There have been disputes between record companies and their executives before, but this one may be convenient given the bizarre details of the allegations that have been reported in recent weeks.
South Korea's music scene has been rocked many times by a series of claims and rumors regarding Min's allegations. Tried to disconnect ADOR from majority owner HYBE. And that the latter company „copied“ ADOR's Star Girls group. new jeansabout that new girl group Irit; What Mr. Min allowed an outside religious “shaman” to do Influence business decisions; and these days, HYBE is somehow linked. Alleged yoga cult It's called Darn World…
About the latest world music business Podcast, MBW Founder Tim Ingham is participating david israelPresident and Chief Executive Officer (CEO). National Music Publishers Association.
You probably don't need to ask them to guess the specific controversial topic they're discussing.
Early this month, spotify announced that it is Change how mechanical royalty payments are calculated For American songwriters and publishers.
Spotify has reclassified its premium subscription tier in the United States as „.bundleThis allows lower mechanical royalties to be paid to songwriters than if the premium tier were classified as a pure music service.
As David Israelite explains in this podcast, the NMPA currently Considering legal action Spotify is trying to reinstate the service's newly lowered „bundle“ mechanical royalty rate…