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 revenue and cut back their touring prices.
These long-promised hazy, lazy summer time months are right here! Worry not: MBW will carry on sniffing out all of the music biz headlines you might want to see.
Prior to now week, main information tales from across the trade 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 realized 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 most recent: Warner Bros Discovery is now apparently negotiating to promote round half of the catalog for roughly $500 million (with the total 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 concerning the negotiations that befell between Taylor Swift (and her crew at 13 Administration) and Scooter Braun’s Ithaca three years in the past.
The most recent: Braun really wished to promote Swift her masters again, in line with emails we’ve seen.
Swift’s crew mentioned they objected to a “gagging order” in an NDA provided by Braun/Ithaca (which Swift then infamously spoke publicly about). Nonetheless, MBW has obtained that full NDA and, in our view, the outline of “gagging order” is… pushing it, to say the least.
In the present day (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…
1) Warner Bros Discovery negotiating $500m deal for TV and movie music catalog
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 value of round $500 million, are more likely to go to a serious label, with Sony mentioned to be within the lead… (Selection)
2) Unique: Scooter Braun wished 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 crew – 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 crew wished me to signal an ironclad NDA stating I might by no means say one other phrase about Scooter Braun until it was optimistic, earlier than we might even take 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)
Credit score: Jake Edwards / Paul Simon Music
3) BMG acquires Paul Simon royalty streams for Simon & Garfunkel classics
One of many world’s greatest ever music catalog acquisition offers befell two years in the past, when legendary songwriter Paul Simon bought his music publishing catalog to Sony for a value believed to be within the area of USD $250 million-plus.
Now, we study that Simon has bought different useful property associated to his catalog to BMG, for an undisclosed sum.
BMG has acquired Simon’s artist royalty revenue stream – along with his neighboring rights revenue stream – from Simon & Garfunkel recordings (not together with Simon’s solo work).
In different phrases: BMG will probably be paid Simon’s artist royalty share at any time when 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 key file firms, along with some unbiased labels. (MBW)
5) The US recorded music trade 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 introduced an abundance of attention-grabbing data (such because the under slides) to its music writer members.
Mentioned data included one enormous 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 trade… (MBW)
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
