Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure 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.
This week MBW noticed an information level that additional reinforces the remark that indie music firms are on the rise: totally 60% of the highest 10 songs globally on TikTok this summer time had been independently distributed.
In the meantime, Blackstone‘s takeover of Hipgnosis from its public shareholders continues to be a intently watched occasion within the music biz. Some had anticipated Blackstone to trim down Hipgnosis Music Administration within the wake of Merck Mercuriadis‘ departure, however that’s proving to not be the case: HSM is on a hiring spree.
Elsewhere within the business this week, Sony Music introduced a brand new CEO for its Germany, Switzerland and Austria (GSA) division, with Christoph Behm taking the helm of Sony Music GSA from Patrick Mushatsi-Kareba, efficient September 1.
Talking of latest bosses, a lot has been stated about Warner Music Group‘s appointment of the comparatively younger Elliot Grainge to CEO of Atlantic Music Group. In a brand new evaluation, MBW notes that, for all his youth, Grainge has a formidable observe report as a hitmaker.
Lastly, Edgar Bronfman Jr., identified within the music business for his stint on the head of Warner, launched a bid this week for management of Paramount International, throwing a spanner into the deliberate merger between the studio and Skydance. Paramount has prolonged its deadline for the Skydance bid to guage Bronfman’s bid.
The onward march of the ‘center class’ of indie artists has been one of many music business’s largest speaking factors this 12 months.
This development was highlighted in current months by Luminate stats displaying that indies are nibbling into the majors’ streaming market share.
We additionally advised you about Okay-Pop big HYBE’s plans to launch an artist providers enterprise in the US, citing “rising demand for change within the conventional enterprise construction within the US market attributable to its fragmentation”.
Now we’ve found that greater than half (60%) of the High 10 songs globally on social media big TikTok this summer time had been independently distributed…
It felt like the top of the story. Blackstone formally acquired Hipgnosis Songs Fund from its public shareholders final month for USD $1.584 billion.
The post-acquisition plan was apparent: Blackstone would mix HSF’s 40,000 songs with Blackstone’s privately held Hipgnosis Songs Capital, residence to copyrights related to Leonard Cohen, Justin Timberlake, Justin Bieber, Nelly Furtado, and Kenny Chesney.
What was maybe much less clear within the wake of the Blackstone/HSF deal was what would occur to Hipgnosis Music Administration (HSM) – the funding adviser to each Hipgnosis’ personal fund and the (beforehand) public entity of Hipgnosis Songs Fund.
Merck Mercuriadis’ exit led some to imagine that Blackstone may slim down HSM, because the monetary big appeared to take a quieter position in music enterprise rights possession. That assumption is now trying questionable – as a result of Hipgnosis Music Administration is on a hiring spree…
Patrick Mushatsi-Kareba, Sony Music‘s CEO in Germany, Switzerland, and Austria (GSA), is departing the corporate on the finish of August.
Sony Music introduced the exec’s departure on Monday (August 19).
Mushatsi-Kareba will probably be changed by Christoph Behm, who has been promoted to CEO of Sony Music GSA, efficient September 1, 2024.
Reporting to Daniel Lieberberg, President, Sony Music Continental Europe and Africa, Christoph Behm will proceed to be based mostly in Berlin and can now oversee the GSA area’s technique and operations…
Edgar Bronfman Jr. has submitted a $4.3 billion supply to amass Paramount International, aiming to derail the corporate’s impending merger with Skydance.
That’s in accordance with a number of information retailers, together with The Wall Avenue Journal, which first reported on the bid on Monday (August 19).
Bronfman’s proposal features a $2.4 billion fee to Shari Redstone’s Nationwide Amusements, which controls Paramount International, and a $1.5 billion injection into the corporate’s stability sheet to cut back debt and preserve investment-grade standing, Deadline reported.
Moreover, a $400 million breakup payment could be paid to Skydance, the report stated…
Elliot Grainge’s youth is clearly no impediment to the religion put in him by Warner Music Group CEO Robert Kyncl and WMG’s board, who introduced the opposite week that he’ll turn out to be CEO of Atlantic Music Group in October.
A 30-year-old boss of AMG dramatically reduces the classic of US main label heads. Grainge is half the age of a few of his opponents.
Sure, there’s a nepo-baby dialogue available. Then once more, Grainge has bona fides: on the time WMG invested in Grainge’s 10K Tasks in September 2023, his unbiased label had racked up over 30 platinum-certified hits – from artists like XXXTentacion, Ice Spice, Iann Dior, and Trippie Redd.
10K has since delivered successes at WMG like Artemas (present Spotify month-to-month listeners: 33.2 million) and Forrest Frank (5.9m)…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and cut back their touring prices.Music Enterprise Worldwide
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