Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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.
These long-promised hazy, lazy summer season months are right here! Concern not: MBW will carry on sniffing out all of the music biz headlines you might want to see.
Up to now week, main information tales from across the business have included BMG‘s acquisition of Paul Simon’s artist royalty stream – and neighboring rights – for his recordings with Simon & Garfunkel.
Elsewhere, through Hits and Selection, we’ve discovered that negotiations over the acquisition of the Warner Bros movie and TV music publishing catalog (which have been first reported on in January) are reaching extra superior phases.
The newest: Warner Bros Discovery is now apparently negotiating to promote round half of the catalog for roughly $500 million (with the complete catalog due to this fact clearly being valued at round $1 billion). Sony is reportedly in pole place to accumulate the stake.
Different large information tales this week included MBW’s additional revelations in regards to the negotiations that occurred between Taylor Swift (and her workforce at 13 Administration) and Scooter Braun’s Ithaca three years in the past.
The newest: Braun truly needed to promote Swift her masters again, in response to emails we’ve seen.
Swift’s workforce mentioned they objected to a “gagging order” in an NDA provided by Braun/Ithaca (which Swift then infamously spoke publicly about). Nevertheless, MBW has obtained that full NDA and, in our view, the outline of “gagging order” is… pushing it, to say the least.
Right this moment (June 23) introduced its personal large information: Former BPI Chief Govt, Geoff Taylor, has been named EVP of Synthetic Intelligence at Sony Music Leisure.
Right here’s what occurred this week…
From Selection: “Warner Bros. Discovery is negotiating to promote round half of the storied Warner studio’s movie and TV music-publishing property for roughly $500 million, three sources verify to Selection. The information was first reported by Hits.
Whereas it’s unclear precisely which property are on the desk, one supply says that the rights to “barely lower than half” of the catalog, with a worth of round $500 million, are prone to go to a serious label, with Sony mentioned to be within the lead… (Selection)
2) Unique: Scooter Braun needed to promote Taylor Swift her masters. What occurred?
Final week, MBW obtained a signed five-page NDA from November 2019 between Scooter Braun’s Ithaca Holdings and Taylor Swift’s administration workforce – 13 Administration – which contained no point out of reputational protections for Scooter Braun.
This was complicated, as in November 2020, Taylor Swift publicly alleged: “Scooter’s workforce needed me to signal an ironclad NDA stating I’d by no means say one other phrase about Scooter Braun except it was optimistic, earlier than we might even have a look at the monetary data of BMLG.”
Now, MBW has obtained extra startling proof on this saga.
It exhibits simply how shut Scooter Braun and Ithaca got here to promoting Swift the rights to her first six albums – and the way a possible deal fell aside… (MBW)
3) BMG acquires Paul Simon royalty streams for Simon & Garfunkel classics
One of many world’s largest ever music catalog acquisition offers occurred two years in the past, when legendary songwriter Paul Simon bought his music publishing catalog to Sony for a worth believed to be within the area of USD $250 million-plus.
Now, we be taught that Simon has bought different invaluable property associated to his catalog to BMG, for an undisclosed sum.
BMG has acquired Simon’s artist royalty earnings stream – along with his neighboring rights earnings stream – from Simon & Garfunkel recordings (not together with Simon’s solo work).
In different phrases: BMG will likely be paid Simon’s artist royalty share each time Simon & Garfunkel’s basic recordings – which proceed to be owned by Columbia/Sony Music – are streamed or bought. (MBW)
4) Geoff Taylor joins Sony Music as EVP, Synthetic Intelligence
Sony Music Leisure (SME) has employed Geoff Taylor MBE as its first ever Govt Vice President, Synthetic Intelligence.
Taylor was beforehand CEO of the BPI – the London-based UK commerce physique that represents the pursuits of the main file corporations, along with some impartial labels. (MBW)
5) The US recorded music business grew by $500m on a wholesale foundation final 12 months. The music publishing enterprise grew by $900m.
Final Wednesday (June 14), the US commerce physique, led by President and CEO, David Israelite, held its Annual Assembly for 2023 in New York, the place it offered an abundance of attention-grabbing info (such because the beneath slides) to its music writer members.
Mentioned info included one big stat for the music enterprise: The general commerce income of US-based music publishers in calendar 2022 stood at USD $5.605 billion, up 19.25% YoY.
The place this will get very attention-grabbing is if you examine that quantity to the equal determine from the file business… (MBW)