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 revenue and cut back their touring prices.
There was an enormous shakeup at TikTok mum or dad ByteDancethis week. MBW broke the information that Ole Obermann is departing as the corporate’s International Head of Music Enterprise Growth after greater than 5 years. Tracy Gardner will take over the position on the finish of March. Our sources inform us that Obermann is headed to Apple Music.
In the meantime, Warner Data inked a partnership with hip-hop and R&B government Tim Hinshaw to launch a brand new label, Free Lunch Data.
Additionally this week, Sony Music Leisure requested the court docket to dismiss a copyright lawsuit filed by Patrick Moxey’s impartial writer, Extremely Worldwide Music Publishing.
In the meantime, Spotify CEO Daniel Ek cashed out one other $31.5 million in firm shares this week, bringing his whole cash-out to $666 million over the previous 12 months and a half. Spotify inventory hit one other contemporary report excessive on February 13, at $648.32 per share.
Talking of Spotify, we received a glimpse this week into its long-awaited “super-premium” tier, which apparently will probably be branded ‘Music Professional‘ and can price an extra $5.99 per 30 days within the US. Among the many potential perks: live performance tickets, AI-powered remix instruments, and high-fidelity audio.
There was a huge management shakeup in TikTok/ByteDance‘s music workforce.
After 5 and a half years as International Head of Music Enterprise Growth at ByteDance, Ole Obermann will probably be leaving the corporate subsequent month for a brand new alternative, nonetheless in music.
Following Obermann’s departure on the finish of March, Tracy Gardner would be the new International Head of Music Enterprise Growth at ByteDance.
TikTok has declined to remark, however our sources inform us that Obermann has lined up an enormous position at Apple Music, which doubtless has a enterprise improvement ingredient to it…
Warner Data has entered right into a strategic partnership with outstanding hip-hop and R&B government Tim Hinshaw.
The deal marks the enlargement of Hinshaw’s Free Lunch Company — a artistic and touring firm — into the label area with the launch of Free Lunch Data.
Based on an official announcement Wednesday (February 19), the collaboration permits Warner Data artists to leverage Free Lunch’s “in depth artistic, touring, and sync companies whereas establishing a brand new dwelling for rising expertise.”
As a part of this enlargement, revered A&R government Ericka Coulter has been named Normal Supervisor of Free Lunch Data along with her position as SVP, A&R at Warner Data…
Sony Music Leisure has requested a court docket in New York to dismiss a lawsuit filed on the finish of 2024 by Patrick Moxey’s impartial writer, Extremely Worldwide Music Publishing.
The lawsuit, filed in November on behalf of Extremely Worldwide Music Publishing LLC (UIMP) and Extremely Music Publishing Europe AG, accused SME of copyright infringement over Sony and its associates’ alleged use of Extremely’s compositions with no license.
A lot of Sony‘s subsidiaries, together with Extremely Data and AWAL, have been named as defendants.
In a authorized doc filed by Sony Music‘s legal professionals, the music firm referred to as the copyright motion “an ill-conceived effort” to “retaliate in opposition to” Sony Music “for pursuing claims based mostly on Moxey’s unauthorized use of the ULTRA trademark after SME purchased Moxey’s share of Extremely Data from him in 2021…”
Spotify CEO and co-founder Daniel Ek continues to dump parts of his stake within the streaming large, capitalizing on the corporate’s hovering inventory worth.
Ek offered one other 50,000 shares on Wednesday (February 19) for USD $31.5 million, or $630.56 apiece, based mostly on the corporate’s closing worth on Tuesday.
The sale, disclosed in an SEC submitting, got here simply days after Spotify’s inventory hit a brand new all-time excessive of $648.32 on February 13.
The newest sale marks Ek’s 14th since July 2023, and brings his whole earnings from share gross sales to $666.1 million, with $376 million of that coming in 2024 alone…
Spotify‘s long-touted superfan tier seems to be taking form – and might be launched this 12 months.
Citing sources, Bloomberg reported final weekend that the streaming firm is contemplating charging as much as $5.99 extra per 30 days on high of a Premium subscription for entry to a so-called ‘Music Professional’ tier, which would come with numerous ‘superfan‘ perks.
A person Premium subscription is presently priced at $11.99 within the US, following the newest worth rise in June 2024. This could deliver the mixed price of a Premium subscription plus the Tremendous Professional add-on to round $18 per 30 days.
That worth vary correlates with what Spotify CEO Daniel Ek instructed analysts in July final 12 months when he confirmed that the corporate was engaged on a pricier tier…
