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 scale 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 could possibly be bought 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 could possibly be accomplished by the top of this summer season.
Additionally this week, South Korean leisure big HYBE was reported to be seeking to elevate round 500 billion Korean received (approx USD $380m) to fund acquisitions within the US.
The information was first reported by Bloomberg, which, citing folks conversant in the matter, reviews that HYBE, the music firm behind Okay-pop superstars BTS and rising stars New Denims, “is in talks with traders to safe fairness financing”.
In the meantime, Slicing Edge Media Music, a distinguished purchaser of movie and TV music rights, stepped into the world of pop music this week, putting a take care of pop songwriter and producer Jamie Hartman. MBW understands that the deal tipped into the eight-figure realm.
Plus, MBW grilled TikTok’s International music boss Ole Obermann, whereas Ezekiel Lewis was promoted to President of Epic Data.
Two years in the past, MBW ran a well-liked 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 trade sources, is a powerful sure.
We’re instructed 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 could possibly be accomplished by the top of this summer season.
Main music firms together with Common Music Group have been in discussions concerning a possible acquisition, we’re instructed, along with gamers from the world of personal fairness….
HYBE, the music firm behind Okay-pop superstars BTS and rising stars New Denims, is seeking to elevate round 500 billion Korean received (approx USD $380m) to fund acquisitions within the US.
That’s in keeping with Bloomberg, which, citing folks conversant in the matter, reviews that the South Korean leisure big “is in talks with traders to safe fairness financing”.
The report provides, citing those self same folks, that HYBE “is open to having each strategic and monetary companions…”
“A few of the short-form video suppliers are comparatively new… it doesn’t take a scientist to understand that we’re being underpaid by [them]” – Rob Stringer, Sony Music Group Chairman.
“By way of the place we’re at the moment 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 won’t 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 International Head of Music Enterprise Improvement (and due to this fact TikTok’s de facto international head of music), Ole Obermann.
Obermann spent 13 years at main report firms – a decade at Sony Music/BMG after which three years at Warner Music Group – earlier than becoming a member of ByteDance in 2019.
Right this moment, he’s principally liable for TikTok’s licensing relationship with music rightsholders each massive (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 plenty of gnarly questions his method – most of them knowledgeable by grumbles-over-a-drink we’ve heard in Document 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 just a few molecules of hyperbole into proceedings.
For Obermann, this Q&A isn’t solely an opportunity to set the music trade straight on (as he sees it) misplaced gripes over the dimensions 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 advertisements by manufacturers on TikTok, and by way of real-time e-commerce…
Slicing Edge Media Music is entering into the world of pop music, putting a take care of distinguished songwriter and producer Jamie Hartman, who’s written or co-written quite a few hits for artists reminiscent of 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”, revealed by way of his take care of 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 reminiscent of 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 revealed by Reservoir…
He’ll proceed to report back to Sylvia Rhone, Epic Data’ 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….
