Welcome to Music Enterprise Worldwide’s weekly round-up – the place we ensure 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.
This week, Common Music UK introduced that it’s altering its firm construction from October 1. It will embody the merger of two famend London-based frontline labels: Island Data UK and EMI.
In the meantime, on the opposite facet of the pond, songwriter teams hailed the US Copyright Workplace‘s ruling that songwriters are entitled to gather mechanical royalties from streaming platforms like Spotify after their termination rights have been invoked, that’s, once they reclaim their rights from one other celebration, often a writer.
We additionally bought phrase this week that longtime HYBE exec Lenzo Yoon might be leaving the corporate on the finish of this yr. Yoon most lately held the title of Co-CEO of HYBE America, a task he shared with Scooter Braun.
Again in Europe, France-headquartered Consider introduced it had taken a 25% stake in Romania-born International Data, which describes itself as the largest indie music firm in Central and Jap Europe.
Talking of investments: Having gained its bidding warfare in opposition to Harmony, Blackstone cleared the final hurdle this week in its acquisition of Hipgnosis Songs Fund, as HSF shareholders accredited its takeover bid with 99.97% of voting shares saying sure to the deal.
Common Music UK is altering its firm construction from October 1. It will embody the merger of two famend London-based frontline labels: Island Data UK and EMI.
Louis Bloom would be the president of the newly-named Island EMI Label Group; Bloom will transfer into the function from his present place as President of Island Data UK.
The Island EMI Label Group will type certainly one of two “powerhouse frontline label teams”, Common Music UK’s Chairman/CEO, David Joseph, introduced in an inside memo on July 9.
The opposite might be Polydor Label Group, led by Ben Mortimer as President…
Plenty of organizations representing artists and songwriters in america have applauded the US Copyright Workplace’s ruling reaffirming termination rights underneath the Music Modernization Act (MMA).
The rule clarifies that songwriters are entitled to gather mechanical royalties generated from streaming platforms like Spotify, Apple, and Amazon after their termination rights have been invoked (i.e., once they reclaim their rights from one other celebration, on this case, a music writer).
Within the US, songwriters have the precise ‘to terminate the unique or nonexclusive grant of a switch or license’ after 35 years for works written after 1978 (or 56 years for works written/copyrights granted previous to 1978).
The ruling, which was printed on July 9, confirms that the so-called “spinoff works exception” doesn’t apply to the blanket license underneath Part 115 of the Copyright Act…
Lenzo Yoon is leaving South Korea-headquartered leisure big HYBE on the finish of 2024.
That’s in line with a report printed in South Korea’s Maeil Kyungjae enterprise paper, which reviews that the exec’s contract incorporates a non-compete clause that expires on the finish of 2024. The report provides that Yoon will depart the corporate ‘instantly thereafter’.
The exec most lately held the title of Co-CEO of HYBE America, a task he shared with Scooter Braun till January 2023, when the latter exec turned sole CEO of HYBE America.
Lenzo Yoon has been a key exec at HYBE since he joined the corporate in 2010 as Head of Strategic Planning, and when it was often known as Large Hit Leisure…
Consider has signed a strategic partnership with Romania-born International Data, which is claimed to be the largest unbiased music firm in Central and Jap Europe.
As a part of the deal, Consider has acquired a 25% stake in Bucharest-headquartered International Data, which has places of work in Romania, Germany and the US.
Consider mentioned on Monday (July 8) that this strategic partnership “falls in line” with its “blueprint technique to concentrate on music genres the place artist improvement and music consumption are digital”…
It’s official: Blackstone is about to develop into the brand new proprietor of Hipgnosis Songs Fund.
Blackstone’s USD $1.584 billion bid for the UK-listed music firm gained overwhelming approval amongst HSF shareholders who voted at a Courtroom Assembly and Basic Assembly on July 8.
The method noticed 99.97% of the Scheme Shares voted by HSF shareholders approve the Blackstone deal.
Blackstone wanted not less than 75% of voting shares to get the deal over the road…
