Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain you caught the 5 greatest 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 earnings and cut back their touring prices.
These long-promised hazy, lazy summer time months are right here! Worry not: MBW will carry on sniffing out all of the music biz headlines it is advisable to see.
Up to now week, main information tales from across the business have included BMG‘s acquisition of Paul Simon’s artist royalty stream – and neighboring rights – for his recordings with Simon & Garfunkel.
Elsewhere, through Hits and Selection, we’ve realized that negotiations over the acquisition of the Warner Bros movie and TV music publishing catalog (which had been first reported on in January) are reaching extra superior phases.
The most recent: Warner Bros Discovery is now apparently negotiating to promote round half of the catalog for about $500 million (with the total catalog due to this fact clearly being valued at round $1 billion). Sony is reportedly in pole place to accumulate the stake.
Different huge information tales this week included MBW’s additional revelations concerning the negotiations that occurred between Taylor Swift (and her group at 13 Administration) and Scooter Braun’s Ithaca three years in the past.
The most recent: Braun truly needed to promote Swift her masters again, in keeping with emails we’ve seen.
Swift’s group stated they objected to a “gagging order” in an NDA provided by Braun/Ithaca (which Swift then infamously spoke publicly about). Nonetheless, MBW has obtained that full NDA and, in our view, the outline of “gagging order” is… pushing it, to say the least.
At this time (June 23) introduced its personal huge information: Former BPI Chief Govt, Geoff Taylor, has been named EVP of Synthetic Intelligence at Sony Music Leisure.
From Selection: “Warner Bros. Discovery is negotiating to promote round half of the storied Warner studio’s movie and TV music-publishing property for about $500 million, three sources verify to Selection. The information was first reported by Hits.
Whereas it’s unclear precisely which property are on the desk, one supply says that the rights to “barely lower than half” of the catalog, with a worth of round $500 million, are prone to go to a serious label, with Sony stated to be within the lead… (Selection)
Final week, MBW obtained a signed five-page NDA from November 2019 between Scooter Braun’s Ithaca Holdings and Taylor Swift’s administration group – 13 Administration – which contained no point out of reputational protections for Scooter Braun.
This was complicated, as in November 2020, Taylor Swift publicly alleged: “Scooter’s group needed me to signal an ironclad NDA stating I’d by no means say one other phrase about Scooter Braun until it was optimistic, earlier than we may even take a look at the monetary information of BMLG.”
Now, MBW has obtained extra startling proof on this saga.
It exhibits simply how shut Scooter Braun and Ithaca got here to promoting Swift the rights to her first six albums – and the way a possible deal fell aside… (MBW)
One of many world’s greatest ever music catalog acquisition offers occurred two years in the past, when legendary songwriter Paul Simon offered his music publishing catalog to Sony for a worth believed to be within the area of USD $250 million-plus.
Now, we be taught that Simon has offered different precious property associated to his catalog to BMG, for an undisclosed sum.
BMG has acquired Simon’s artist royalty earnings stream – along with his neighboring rights earnings stream – from Simon & Garfunkel recordings (not together with Simon’s solo work).
In different phrases: BMG will likely be paid Simon’s artist royalty share every time Simon & Garfunkel’s traditional recordings – which proceed to be owned by Columbia/Sony Music – are streamed or bought. (MBW)
Taylor was beforehand CEO of the BPI – the London-based UK commerce physique that represents the pursuits of the most important document corporations, along with some unbiased labels. (MBW)
Final Wednesday (June 14), the US commerce physique, led by President and CEO, David Israelite, held its Annual Assembly for 2023 in New York, the place it offered an abundance of attention-grabbing data (such because the under slides) to its music writer members.
Stated data included one enormous stat for the music enterprise: The general commerce income of US-based music publishers in calendar 2022 stood at USD $5.605 billion, up 19.25% YoY.
The place this will get very attention-grabbing is whenever you evaluate that quantity to the equal determine from the document business… (MBW)
