Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be 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 earnings and cut back their touring prices.
This week, we realized that Warner Music Group (WMG) has signed a brand new take care of Spotify that overrides the “bundling” cost construction Spotify enacted final 12 months, following an identical deal final month between Spotify and Common Music Group.
Talking of WMG, the corporate confirmed this week that it has acquired a majority stake in Tempo Music, which MBW understands valued Tempo at north of $450 million.
Warner additionally reported its calendar This fall (fiscal Q1) outcomes this week, posting company-wide revenues of USD $1.67 billion. WMG CEO Robert Kyncl additionally confirmed on the corporate’s earnings name that Warner has a brand new take care of Amazon Music.
Additionally this week, the Nationwide Music Publishers Affiliation (NMPA) introduced it had launched an “in depth” takedown motion towards Spotify, alleging it has detected 2,500 violations of copyright on the platform’s podcasts. The information got here as Spotify reported its first-ever full 12 months of revenue, driving its inventory worth to all-time highs.
In the meantime, MBW obtained Sir Lucian Grainge‘s new-year memo to Common Music Group workers, wherein UMG’s Chairman and CEO laid out his imaginative and prescient for 2025, together with the trade’s shift to what UMG has termed ‘Streaming 2.0‘.
Elsewhere at UMG this week, the corporate promoted Julie Adam to President and CEO of Common Music Canada (UMC), whereas Jeffrey Remedios, who has led UMC as Chairman and CEO for a decade, was appointed President, Strategic Growth, for UMG’s REPUBLIC Collective.
We additionally obtained phrase this week that Cindy Mabe has exited her position as CEO of UMG Nashville.Mike Harris has been appointed as UMGN’s new CEO, and Grammy-winning producer Dave Cobb named Chief Artistic Officer.
Warner Music Group and Spotify have signed a brand new multi-year licensing deal.
And earlier than you ask… sure, sources have confirmed that it supersedes the ‘bundling’ cost construction that final 12 months noticed Spotify dramatically minimize the speed of mechanical royalties being paid to publishers and songwriters within the US.
Warner’s new settlement with SPOT follows an announcement from Common Music Group final month, which additionally included a brand new royalty settlement that overrode the prior mechanical royalties scenario within the States.
On the corporate’s newest earnings name, CEO Robert Kynclconfirmed the corporate additionally has a brand new take care of Amazon…
The Nationwide Music Publishers Affiliation (NMPA) has launched what it says is an “in depth” takedown motion towards Spotify.
The NMPA accuses the music streaming service of ignoring widespread violations of music copyrights on the podcasts it hosts.
The trade group for music publishers within the US stated on Tuesday (February 4) that its first wave of takedown requests entails greater than 2,500 “detected” infringements.
Information of the NMPA‘s motion got here as Spotify reported its 2024 earnings, displaying the corporate swinging to its first-ever full-year revenue, information that despatched the corporate’s inventory to file highs…
Warner Music Group confirmed on Thursday (February 6) that it has acquired a controlling stake in Tempo Music Investments aka Tempo Music.
Tempo’s earlier proprietor, Windfall Fairness Companions, holds on to a minority stake in Tempo as a part of the deal. MBW first reported on the Warner acquisition final month.
The ultimate deal is known to have valued Tempo at north of $450 million.
Tempo’s catalog of rights and earnings streams contains pursuits in songs recorded by the likes of Twenty One Pilots’ Tyler Joseph, multi-platinum-selling recording artist Wiz Khalifa, and nation duo Florida Georgia Line, amongst others…
Extra large information about Common Music Group‘s management groups in North America:
UMG has promoted Julie Adam to President and CEO of Common Music Canada (UMC).
Jeffrey Remedios, who has led Common Music Canada as Chairman and CEO for a decade, has been appointed to the position of President, Strategic Growth, for UMG’s REPUBLIC Collective (which incorporates Island Data, Def Jam Recordings, Mercury Data, and Republic Data).
Common Music Group Chairman and CEO Sir Lucian Grainge has issued his annual New 12 months be aware to UMG workers.
The wide-ranging letter, despatched on Monday (February 3) and obtained by MBW, covers UMG’s successes in 2024 and ultimately week’s Grammys, the corporate’s advocacy for the accountable use of AI, UMG’s varied charitable, environmental, well being, and training efforts; and the progress made on the corporate’s artist-centric technique.
Grainge additionally confirms the arrival of what he calls “the Streaming 2.0 period” – a phrase launched at UMG’s Capital Markets Day in September…
