Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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 maximise their earnings and cut back their touring prices.
This week, MBW calculated that the three ‘majors’ (Sony Music Group, Common Music Group and Warner Music Group), throughout recorded music, publishing, and different earnings streams – collectively generated USD $12.99 billion within the first six months of 2023.
This determine was a billion {dollars} bigger than the $11.99 billion that the ‘Massive Three’ generated in revenues in the identical interval of 2022.
It additionally implies that the three majors mixed generated a median of roughly $72 million per day within the first half of this 12 months… or roughly $3 million per hour.
We have been in a position to crunch these numbers as a result of this week noticed two main music firms – Warner and Sony – publish their calendar Q2 income/profitability figures for traders. (Sony did so on Wednesday by way of its Japanese mum or dad, Sony Group Corp.)
WMG and SMG’s outcomes adopted the equal calendar Q2 numbers from publicly-traded UMG, which reported its revenues late final month.
Additionally this week, we discovered that South Korea-headquartered leisure big HYBE is taking full management of BeLift Lab, the label house of Okay-pop stars Enhypen, whereas Tom Becci has been employed as Chief Government at Harmony Label Group.
See under for 5 of the largest headlines on MBW this week…
1) The three main music firms generated $1bn extra within the first half of 2023 vs. the primary half of 2022
Music Enterprise Worldwide has been crunching a veritable mountain o’ numbers this week.
That’s as a result of this week has seen two main music firms – Warner Music Group (WMG) and Sony Music Group (SMG) – publish their calendar Q2 income/profitability figures for traders. (Sony did so on Wednesday by way of its Japanese mum or dad, Sony Group Corp.)
These outcomes adopted the equal calendar Q2 numbers from publicly-traded Common Music Group (UMG), the world’s greatest music rightsholder, which it reported to the Amsterdam Euronext late final month.
All of because of this – mixed with previously-reported calendar Q1 figures from UMG, Sony, and WMG – we’ve been in a position to apply MBW’s microscope to how the ‘majors’ carried out throughout the primary six months of 2023.
What have we found?
Properly, for starters, there’s that headline above: The three ‘majors’ – throughout recorded music, publishing, and different earnings streams – collectively generated USD $12.99 billion within the first six months of 2023…
2) WARNER EXPECTS ‘MORE REGULAR’ STREAMING PRICE HIKES AHEAD, AND 3 OTHER THINGS WE LEARNED ON WMG’S LATEST EARNINGS CALL
Though music rightsholders are definitely pleased with the value hikes seen at streaming providers of late, it’s no secret that recording firms and publishers need to see extra – and Warner Music Group (WMG) is relying on it.
Through the firm’s newest earnings name, held on Tuesday (August 8), CEO Robert Kyncl stated he was “happy” to see that each one the main music streaming providers – together with, most just lately, Spotify – have raised costs on their particular person subscription plans, calling it “the fiscally accountable factor to do.”
But Kyncl made it clear that he expects to see streaming value hikes develop into an everyday a part of the music panorama going ahead…
3) SONY GENERATED $2.28BN FROM RECORDED MUSIC AND PUBLISHING IN CALENDAR Q2, UP 12.5% YOY
Sony’s international music rights operation – throughout recorded music and music publishing – generated USD $2.284 billion within the three months to finish of June 2023.
That’s based on MBW’s calculations based mostly on Sony Group Corp’s calendar Q2 2023 (fiscal Q1 2023) outcomes, as introduced by the Japanese agency on Wednesday (August 9).
The $2.284 billion determine was up 12.5% year-on-year (vs. calendar Q2 2022) at US dollar-converted fixed foreign money…
4) HYBE TO FULLY ACQUIRE ENHYPEN LABEL BELIFT LAB IN $100M+ DEAL (REPORT)
South Korea-headquartered leisure big HYBE is taking full management of BeLift Lab, the label that’s house to Okay-pop stars Enhypen.
BeLift began out as a three way partnership between HYBE and CJ ENM, proprietor of South Korean pay-TV music channel Mnet.
In a press launch shared with MBW, HYBE says that it’s buying a 51.5% stake within the label from CJ ENM, which means that it’ll now personal 100% of BeLift.
In keeping with native reviews, HYBE is shopping for CJ ENM’s 51.5% stake in BeLift for 150 billion South Korea Gained (approx. USD $113.8m)…
5) TOM BECCI HIRED AS CHIEF EXECUTIVE OF CONCORD LABEL GROUP
US-headquartered Harmony is setting its sights on increasing its presence within the recorded music enterprise.
To that finish, this previous June it introduced the launch of a joint-venture label with PULSE Music Group, to be dubbed Pulse Information.
The most recent step on this enlargement, introduced on Wednesday (August 9), is the creation of a brand new Chief Government place at Harmony Label Group, to supervise the corporate’s complete recorded music division, together with international frontline label and catalog operations.
Into that function shall be stepping Tom Becci, a music trade veteran with three many years of expertise, together with a seven-plus-year stint at Crimson Gentle Administration, the world’s largest unbiased music administration company…
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