Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make sure that you caught the 5 largest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their revenue and cut back their touring prices.
Are we simply months away from music’s first billion-dollar catalog deal?
This previous week, MBW broke the information that Queen’s catalog could possibly be bought this 12 months for over $1 billion.
Our sources inform us that the preliminary phases of a sale course of for the band’s catalog is underway, and {that a} full acquisition could possibly be accomplished by the tip of this summer time.
Additionally this week, South Korean leisure big HYBE was reported to be seeking to increase round 500 billion Korean received (approx USD $380m) to fund acquisitions within the US.
The information was first reported by Bloomberg, which, citing individuals acquainted with the matter, experiences that HYBE, the music firm behind Ok-pop superstars BTS and rising stars New Denims, “is in talks with buyers to safe fairness financing”.
In the meantime, Slicing Edge Media Music, a distinguished purchaser of movie and TV music rights, stepped into the world of pop music this week, putting a take care of pop songwriter and producer Jamie Hartman. MBW understands that the deal tipped into the eight-figure realm.
Plus, MBW grilled TikTok’s World music boss Ole Obermann, whereas Ezekiel Lewis was promoted to President of Epic Information.
Right here’s what occurred this week…
1) QUEEN MUSIC CATALOG COULD BE SOLD THIS YEAR FOR OVER $1 BILLION, SAY MBW SOURCES
Two years in the past, MBW ran a preferred story with an attention-grabbing headline: “Queen’s music is making loopy cash. Might it’s value over a billion {dollars}?”
The reply to the query, we now hear from a number of high-level music trade sources, is a powerful sure.
We’re advised that the preliminary phases of a sale course of for the band’s catalog – combining each music publishing and recorded music rights – is underway, and {that a} full acquisition could possibly be accomplished by the tip of this summer time.
Main music firms together with Common Music Group have been in discussions concerning a possible acquisition, we’re advised, along with gamers from the world of personal fairness….
2) HYBE IS RAISING $380M TO FUND MORE MUSIC ACQUISITIONS IN THE US (REPORT)
HYBE, the music firm behind Ok-pop superstars BTS and rising stars New Denims, is seeking to increase round 500 billion Korean received (approx USD $380m) to fund acquisitions within the US.
That’s in accordance with Bloomberg, which, citing individuals acquainted with the matter, experiences that the South Korean leisure big “is in talks with buyers to safe fairness financing”.
The report provides, citing those self same individuals, that HYBE “is open to having each strategic and monetary companions…”
Credit score: ByteDance
3) TIKTOK IS UNDER FIRE FROM SOME OF MUSIC’S MOST POWERFUL PLAYERS. ITS GLOBAL MUSIC BOSS SAYS THE FUTURE’S BRIGHT – AND ANSWERS SOME TOUGH QUESTIONS.
“A number of the short-form video suppliers are comparatively new… it doesn’t take a scientist to appreciate that we’re being underpaid by [them]” – Rob Stringer, Sony Music Group Chairman.
“By way of the place we’re presently located… we’re going to be working arduous to enhance the economics for our artists and labels transferring ahead” – Michael Nash, EVP and Chief Digital Officer, Common Music Group.
“I’ve seen this film earlier than. I do know the ending” – Sir Lucian Grainge, CEO & Chairman, Common Music Group.
The untrained eye won’t discover that these current feedback from main music firm leaders (and extra like them) are particularly laser-targeted towards TikTok.
TikTok doesn’t even get a direct point out in any of them. However those that know, know.
One particular person who understands exactly what these music execs are saying-without-saying is ByteDance‘s World Head of Music Enterprise Growth (and due to this fact TikTok’s de facto world head of music), Ole Obermann.
Obermann spent 13 years at main file firms – a decade at Sony Music/BMG after which three years at Warner Music Group – earlier than becoming a member of ByteDance in 2019.
Right now, he’s principally chargeable for TikTok’s licensing relationship with music rightsholders each massive (main labels) and small (indie artists).
Earlier than sitting down with MBW for this interview, Obermann is pre-warned that we’re going to fireplace quite a few gnarly questions his approach – most of them knowledgeable by grumbles-over-a-drink we’ve heard in File Label Land.
He’s relaxed about that concept. Certain sufficient, he smiles as the warmth will get turned up throughout our questioning – even chuckling on the events we spritz a number of molecules of hyperbole into proceedings.
For Obermann, this Q&A isn’t solely an opportunity to set the music trade straight on (as he sees it) misplaced gripes over the scale of the checks being paid by TikTok to labels and publishers. It’s additionally a possibility to amplify his view that TikTok will beginning profitable new areas of enterprise for music rightsholders – cumulatively value billions of {dollars} – through ‘sync’ licensing for advertisements by manufacturers on TikTok, and through real-time e-commerce…
4) CUTTING EDGE STRIKES EIGHT-FIGURE DEAL WITH POP SONGWRITER AND PRODUCER JAMIE HARTMAN
Slicing Edge Media Music is getting into the world of pop music, putting a take care of distinguished songwriter and producer Jamie Hartman, who’s written or co-written quite a few hits for artists equivalent to Lewis Capaldi, Celeste, Calvin Harris, Rag’n’Bone Man and the Backstreet Boys, amongst many others.
CEMM says it “will buy the vast majority of Hartman’s again catalog royalties”, printed by way of his take care of Reservoir Media, which incorporates a whole lot of songs he’s written and collaborated on with artists together with Rag ‘n’ Bone Man, Calvin Harris, Kygo and Lewis Capaldi in addition to songs for commercials, TV and movie written with artists equivalent to Carole King, Jennifer Hudson and Christina Aguilera.
MBW understands that CEMM has purchased the vast majority of Hartman’s writers’ share. Hartman continues to be printed by Reservoir…
5) EZEKIEL LEWIS PROMOTED TO PRESIDENT OF EPIC RECORDS
Ezekiel Lewis has been promoted to President of Epic Information.
He’ll proceed to report back to Sylvia Rhone, Epic Information’ Chairwoman and CEO, and to steer the A&R division whereas serving to run the day-to-day operations of the Sony Music-owned label.
Lewis has served as the corporate’s Govt Vice President and Head of A&R since 2020….
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and cut back their touring prices.Music Enterprise Worldwide