Welcome to Song Trade International’s weekly round-up – the place we be sure you stuck the 5 largest tales to hit our headlines during the last seven days. MBW’s round-up is supported through Centtrip, which is helping over 500 of the arena’s best-selling artists maximize their source of revenue and cut back their traveling prices.
This week noticed Warner Song Staff record record-high revenues for the overall calendar quarter of 2023. The corporate reported USD $1.748 billion in international revenues in calendar This autumn, up 10.6% YoY on a normalized, consistent forex foundation.
That information got here in the similar 24 hours that WMG introduced it’s to chop round 10% of its body of workers – affecting 600 workers – through the top of September this 12 months.
Plus, personal fairness company New Mountain Capital finished its acquisition of appearing rights org BMI, having received shareholder and regulatory approval.
In the meantime, after closing week’s earth-shaking information that Common Song Staff‘s recordings are disappearing from TikTok because of the 2 firms being not able to achieve a licensing settlement, it emerged that a number of entities within the song trade are backing UMG within the ongoing spat.
The likes of Number one Wave, Downtown, Hipgnosis, and the Nationwide Song Publishers Affiliation have all publicly voiced their reinforce for UMG’s refusal to re-license TikTok for the phrases on be offering. UMG has additionally earned reinforce from A2IM, the United States industry frame that represents over 600 impartial recorded song firms.
In other places this week, Spotify introduced that it paid out USD $9 billion to song rightsholders closing 12 months – and has paid out over $48 billion for the reason that platform introduced in 2008.
Right here’s what took place this week…
1) As Warner Song Staff posts its largest ever quarter… WMG boss Robert Kyncl says he’s ‘assured’ that Common and TikTok will get to the bottom of their spat
Relating to the dispute between Common Song Staff and TikTok over royalty bills – the controversy of the song trade during the last few weeks – Warner Song Staff CEO Robert Kyncl is providing some cautionary recommendation: “No matter you learn within the press, don’t imagine it.”
Kyncl made the touch upon WMG’s income name on Thursday (February 8), wherein analysts infrequently gave the impression as serious about speaking concerning the UMG-TikTok scenario as they have been in WMG’s (quite spectacular) fiscal Q1 numbers.
Kyncl famous that, in his prior function as Leader Trade Officer at YouTube, he had himself skilled most of these rightsholder-vs.-platform conflicts, “so I do know precisely what Lucian and Shou are feeling,” he stated, relating to UMG Chairman and CEO Sir Lucian Grainge and TikTok CEO Shou Zi Bite.
Common’s recorded song catalog (about 3 million tracks) and its publishing catalog (just about 4 million songs) have began to vanish from TikTok, after TikTok’s licensing settlement with UMG expired on January 31, and not using a new settlement in position…
“At this time the CEO of TikTok is almost certainly sitting at house observing this display, consuming an ice-cream, crying, seeing all of his exes in a single room. And you realize what, TikTok? Disgrace on you. Disgrace on you for ripping off all of those artists. How dare you do this? [Pause] That’s Spotify’s activity.”
Daniel Ek almost certainly loved Trevor Noah’s TikTok-focused opening monologue at The Grammys on Sunday greater than maximum… till Spotify turned into the punchline.
In what we’re certain is a coincidental announcement, Spotify showed on Thursday (February 8) the amount of cash it paid out to song rightsholders in 2023 – and it’s a whopper.
The corporate says it delivered USD $9 billion closing 12 months to recipients throughout listing firms and song publishers, plus impartial vendors, efficiency rights organizations, and gathering societies…
Final week, as in case you wanted reminding, Common Song Staff introduced that it had now not reached a care for TikTok to re-license its catalog at the video carrier. Because of this, UMG’s huge portfolio of song is now coming down from TikTok.
Over a 3rd of the present Most sensible 50 TikTok tracks in the United States have – on account of the UMG scenario – already transform unavailable in TikTok’s public song library.
In fresh days, the likes of Number one Wave, Downtown, Hipgnosis, and the Nationwide Song Publishers Affiliation have all publicly sponsored UMG’s refusal to re-license TikTok for the phrases on be offering – phrases that Common says don’t constitute honest price for its song catalog.
Now, UMG has earned some other supporter on this struggle: A2IM, the United States industry frame that represents over 600 impartial recorded song firms.
Right here, A2IM’s President & CEO, Dr. Richard James Burgess MBE, explains why A2IM is backing UMG’s motion in its standoff with TikTok, and why he believes that “in an trade that systemically underpays artists and labels, TikTok’s fee method is uniquely disadvantageous“..
Tom March has been appointed Chairman & CEO of Capitol Song Staff (CMG).
The inside track used to be introduced on Wednesday (February 7) through Interscope Geffen A&M Data (IGA) Chairman & CEO John Janick, to whom March experiences.
In his new place, March is answerable for the total control and course of the corporate, which encompasses Capitol Data, Blue Observe Data, Motown Data, Astralwerks, Harvest Data and Capitol Christian Song Staff.
March’s appointment to the function of Chairman & CEO of CMG follows the prior day’s information that Michelle Jubelirer had stepped down from her function as Chair & CEO of the Common Song Staff-owned corporate.
Jubelirer served as Chair & CEO of Capitol Song Staff since 2021, having prior to now served as President, COO, and EVP at CMG…
It’s professional: New Mountain Capital has finished its acquisition of US appearing rights group Broadcast Song, Inc. (BMI).
NMC, which has over USD $45 billion in belongings beneath control, showed in November that it’s going to “lead a shareholder crew” to obtain a majority stake in BMI.
The NMC transaction used to be matter to approval through BMI shareholders and common regulatory approvals, and used to be anticipated to near through the top of this quarter (Q1 2024).
In line with an replace issued on Thursday (February 8), the deal has now won the vital shareholder and regulatory approvals required for final…
MBW’s Weekly Spherical-Up is supported through Centtrip, which is helping over 500 of the arena’s best-selling artists maximise their source of revenue and cut back their traveling prices.Song Trade International