Welcome to Music Enterprise Worldwide’s weekly round-up – the place we ensure that 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 revenue and cut back their touring prices.
When the world’s greatest music rightsholder spends an eight-figure sum on an acquisition, it’s time to sit down up and take discover.
That’s what occurred over the previous week, as Common Music Group confirmed its acquisition of a majority stake in Thailand’s RS Group.
As revealed by a public submitting in Thailand, UMG is spending an preliminary USD $45.5 million on the purchase – which is predicted to shut in Q3 – adopted by a possible extra $4.9 million.
Elsewhere this week, TikTok confirmed that its new Spotify-rivalling subscription music app – TikTok Music – is launching in Brazil and Indonesia.
It should successfully substitute ByteDance‘s Resso in each territories, which is being phased out in every market over the approaching months.
Different headlines we lined this week concerned the likes of Queen (nonetheless making a lot of cash), Taylor Swift (maybe making much more than she’d anticipated), and Raine Group (who’ve raised a heck of some huge cash).
Listed here are 5 tales it is advisable to learn about from the previous 5 days…
That is all attention-grabbing context to contemplate following the information that Common Music Group has simply dedicated USD $45.5 million to purchase a majority stake in RS Group in Thailand.
That $45.5 million price-tag might rise by an extra $4.9 milion in future, in keeping with filings, whereas the deal is predicted to shut in Q3 2023.
Thailand is turning into a strong market in Asia for the recorded music business, with 20% YoY income progress in 2022. The territory surpassed $100 million in wholesale market income for the primary time final 12 months.
Following months of hypothesis and evaluation about TikTok’s plans to launch a standalone music streaming service, on Thursday (July 6), ‘TikTok Music’, a streaming app and severe new Spotify rival, formally arrived.
In response to Ole Obermann, World Head of Music Enterprise Improvement at TikTok, the app is “a brand new sort of service that mixes the facility of music discovery on TikTok with a best-in-class streaming service”.
TikTok Music has launched as a premium-only music subscription service in Indonesia and Brazil, and it’s licensed by, and contains the catalogs of all three main file firms: Common Music Group, Warner Music Group and Sony Music….
Over the previous few weeks, Music Enterprise Worldwide has been rooting out new particulars about one of many music enterprise’s most argued-over sagas: the sale of the grasp rights to Taylor Swift’s first six albums, initially recorded for Large Machine.
In our newest chapter of this investigation, we obtained – and revealed components from – an unsigned June 2020 NDA mutually drafted between Swift’s workforce at 13 Administration and Scooter Braun’s Ithaca Holdings.
This NDA was created to advance talks between the events over the potential sale to Swift of her ‘Large Machine’ masters from Ithaca. It contained what seemed to be a reasonably boilerplate clause stopping both sides from talking publicly about confidential deal negotiations
All of that, although, is now firmly previously.
Whether or not or not there have been some components of Swift and her workforce ‘negotiating in public’ with Braun by way of accusations in regards to the aforementioned NDA, historical past will present that, ultimately, a deal wasn’t agreed between 13 Administration and Ithaca.
Braun would finally ink a sale for the grasp rights to Swift’s first six albums to Shamrock Capital for a complete of USD $405 million in October 2020.
So what occurred subsequent? That’s the main focus of this text – the place we reveal simply how profitable Taylor Swift’s ‘Taylor’s Model’ re-records of her Large Machine albums have been up to now, forward of the discharge of Communicate Now (Taylor’s Model) this Friday (July 7)…
British rockers Queen noticed a severe spike of their earnings in recent times, owing in no small half to the success of the Oscar-winning 2018 biopic Bohemian Rhapsody.
Practically half a decade down the highway from that film’s launch, one would assume the band’s earnings could be dropping again down once more. Not so.
The newest annual report from Queen Productions Ltd. – the UK-based firm that collects the band’s turnover – exhibits that within the fiscal 12 months ending September 30, 2022, the band took in £40.89 million (USD $50.41m at common annual trade charges as per the IRS).
That’s a rise of 4.3% from FY 2021, when turnover got here in at £39.19 million. (In US greenback phrases, that involves $53.9 million, because the British pound was stronger in opposition to the greenback that 12 months.)…
The Raine Group, a worldwide strategic advisory and funding agency, has closed its latest fund, Raine Companions IV.
The entire measurement of the fund is over $760 million, bringing The Raine Group’s complete Property Beneath Administration to almost $4 billion.
As an advisor, Raine Group has been concerned in main latest transactions within the music business together with HYBE’s ~$300 million acquisition of High quality Management…