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Tuesday, April 16, 2024

From Queen’s $1bn catalog to HYBE raising $380m for acquisitions in the US… it’s MBW’s Weekly Round-Up

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Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure you caught the 5 greatest 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.


Are we simply months away from music’s first billion-dollar catalog deal?

This previous week, MBW broke the information that Queen’s catalog might be offered this yr for over $1 billion.

Our sources inform us that the preliminary phases of a sale course of for the band’s catalog is underway, and {that a} full acquisition might be accomplished by the top of this summer season.

Additionally this week, South Korean leisure large  HYBE was reported to be seeking to elevate round 500 billion Korean gained (approx USD $380m) to fund acquisitions within the US.

The information was first reported by Bloomberg, which, citing individuals aware of the matter, reviews that HYBE, the music firm behind Ok-pop superstars BTS and rising stars New Denims, “is in talks with traders to safe fairness financing”.

In the meantime, Chopping Edge Media Music, a outstanding purchaser of movie and TV music rights, stepped into the world of pop music this week, putting a cope with pop songwriter and producer Jamie Hartman. MBW understands that the deal tipped into the eight-figure realm.

Plus, MBW grilled TikTok’s World music boss Ole Obermann, whereas Ezekiel Lewis was promoted to President of Epic Information.

Right here’s what occurred this week…


1) QUEEN MUSIC CATALOG COULD BE SOLD THIS YEAR FOR OVER $1 BILLION, SAY MBW SOURCES

Two years in the past, MBW ran a preferred story with an attention-grabbing headline: “Queen’s music is making loopy cash. Might or not it’s value over a billion {dollars}?”

The reply to the query, we now hear from a number of high-level music business sources, is a powerful sure.

We’re informed that the preliminary phases of a sale course of for the band’s catalog – combining each music publishing and recorded music rights – is underway, and {that a} full acquisition might be accomplished by the top of this summer season.

Main music corporations together with Common Music Group have been in discussions concerning a possible acquisition, we’re informed, along with gamers from the world of personal fairness….


2) HYBE IS RAISING $380M TO FUND MORE MUSIC ACQUISITIONS IN THE US (REPORT)

HYBE, the music firm behind Ok-pop superstars BTS and rising stars New Denims, is seeking to elevate round 500 billion Korean gained (approx USD $380m) to fund acquisitions within the US.

That’s in keeping with Bloomberg, which, citing individuals aware of the matter, reviews that the South Korean leisure large “is in talks with traders to safe fairness financing”.

The report provides, citing those self same individuals, that HYBE “is open to having each strategic and monetary companions…”


Credit score: ByteDance

3) TIKTOK IS UNDER FIRE FROM SOME OF MUSIC’S MOST POWERFUL PLAYERS. ITS GLOBAL MUSIC BOSS SAYS THE FUTURE’S BRIGHT – AND ANSWERS SOME TOUGH QUESTIONS.

“A number of the short-form video suppliers are comparatively new… it doesn’t take a scientist to appreciate that we’re being underpaid by [them]” – Rob Stringer, Sony Music Group Chairman.

“By way of the place we’re at present located… we’re going to be working laborious to enhance the economics for our artists and labels transferring ahead” – Michael Nash, EVP and Chief Digital Officer, Common Music Group.

“I’ve seen this film earlier than. I do know the ending” – Sir Lucian Grainge, CEO & Chairman, Common Music Group.

The untrained eye may not discover that these latest feedback from main music firm leaders (and extra like them) are particularly laser-targeted towards TikTok.

TikTok doesn’t even get a direct point out in any of them. However those that know, know.

One particular person who understands exactly what these music execs are saying-without-saying is ByteDance‘s World Head of Music Enterprise Growth (and subsequently TikTok’s de facto world head of music), Ole Obermann.

Obermann spent 13 years at main file corporations – a decade at Sony Music/BMG after which three years at Warner Music Group – earlier than becoming a member of ByteDance in 2019.

At this time, he’s principally chargeable for TikTok’s licensing relationship with music rightsholders each giant (main labels) and small (indie artists).

Earlier than sitting down with MBW for this interview, Obermann is pre-warned that we’re going to fireside various gnarly questions his method – most of them knowledgeable by grumbles-over-a-drink we’ve heard in Report Label Land.

He’s relaxed about that concept. Certain sufficient, he smiles as the warmth will get turned up throughout our questioning – even chuckling on the events we spritz a number of molecules of hyperbole into proceedings.

For Obermann, this Q&A isn’t solely an opportunity to set the music business straight on (as he sees it) misplaced gripes over the scale of the checks being paid by TikTok to labels and publishers. It’s additionally a chance to amplify his view that TikTok will delivery profitable new areas of enterprise for music rightsholders – cumulatively value billions of {dollars} – by way of ‘sync’ licensing for adverts by manufacturers on TikTok, and by way of real-time e-commerce…


4) CUTTING EDGE STRIKES EIGHT-FIGURE DEAL WITH POP SONGWRITER AND PRODUCER JAMIE HARTMAN

Chopping Edge Media Music is entering into the world of pop music, putting a cope with outstanding songwriter and producer Jamie Hartman, who’s written or co-written quite a few hits for artists comparable to Lewis Capaldi, Celeste, Calvin Harris, Rag’n’Bone Man and the Backstreet Boys, amongst many others.

CEMM says it “will buy the vast majority of Hartman’s again catalog royalties”, printed by means of his cope with Reservoir Media, which incorporates tons of of songs he’s written and collaborated on with artists together with Rag ‘n’ Bone Man, Calvin Harris, Kygo and Lewis Capaldi in addition to songs for commercials, TV and movie written with artists comparable to Carole King, Jennifer Hudson and Christina Aguilera.

MBW understands that CEMM has purchased the vast majority of Hartman’s writers’ share. Hartman continues to be printed by Reservoir…


5) EZEKIEL LEWIS PROMOTED TO PRESIDENT OF EPIC RECORDS

Ezekiel Lewis has been promoted to President of Epic Information.

He’ll proceed to report back to Sylvia Rhone, Epic Information’ Chairwoman and CEO, and to guide the A&R division whereas serving to run the day-to-day operations of the Sony Music-owned label.

Lewis has served as the corporate’s Govt Vice President and Head of A&R since 2020….


MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.Music Enterprise Worldwide

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