Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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.
This week, Common Music UK introduced that it’s altering its firm construction from October 1. This can embody the merger of two famend London-based frontline labels: Island Information UK and EMI.
In the meantime, on the opposite facet of the pond, songwriter teams hailed the US Copyright Workplace‘s ruling that songwriters are entitled to gather mechanical royalties from streaming platforms like Spotify after their termination rights have been invoked, that’s, after they reclaim their rights from one other occasion, normally a writer.
We additionally received phrase this week that longtime HYBE exec Lenzo Yoon can be leaving the corporate on the finish of this 12 months. Yoon most not too long ago held the title of Co-CEO of HYBE America, a job he shared with Scooter Braun.
Again in Europe, France-headquartered Imagine introduced it had taken a 25% stake in Romania-born International Information, which describes itself as the largest indie music firm in Central and Japanese Europe.
Talking of investments: Having received its bidding battle in opposition to Harmony, Blackstone cleared the final hurdle this week in its acquisition of Hipgnosis Songs Fund, as HSF shareholders accredited its takeover bid with 99.97% of voting shares saying sure to the deal.
Common Music UK is altering its firm construction from October 1. This can embody the merger of two famend London-based frontline labels: Island Information UK and EMI.
Louis Bloom would be the president of the newly-named Island EMI Label Group; Bloom will transfer into the function from his present place as President of Island Information UK.
The Island EMI Label Group will type considered one of two “powerhouse frontline label teams”, Common Music UK’s Chairman/CEO, David Joseph, introduced in an inner memo on July 9.
The opposite can be Polydor Label Group, led by Ben Mortimer as President…
Numerous organizations representing artists and songwriters in the US have applauded the US Copyright Workplace’s ruling reaffirming termination rights underneath the Music Modernization Act (MMA).
The rule clarifies that songwriters are entitled to gather mechanical royalties generated from streaming platforms like Spotify, Apple, and Amazon after their termination rights have been invoked (i.e., after they reclaim their rights from one other occasion, on this case, a music writer).
Within the US, songwriters have the precise ‘to terminate the unique or nonexclusive grant of a switch or license’ after 35 years for works written after 1978 (or 56 years for works written/copyrights granted previous to 1978).
The ruling, which was printed on July 9, confirms that the so-called “by-product works exception” doesn’t apply to the blanket license underneath Part 115 of the Copyright Act…
Lenzo Yoon is leaving South Korea-headquartered leisure big HYBE on the finish of 2024.
That’s in response to a report printed in South Korea’s Maeil Kyungjae enterprise paper, which studies that the exec’s contract incorporates a non-compete clause that expires on the finish of 2024. The report provides that Yoon will depart the corporate ‘instantly thereafter’.
The exec most not too long ago held the title of Co-CEO of HYBE America, a job he shared with Scooter Braun till January 2023, when the latter exec grew to become sole CEO of HYBE America.
Lenzo Yoon has been a key exec at HYBE since he joined the corporate in 2010 as Head of Strategic Planning, and when it was often called Huge Hit Leisure…
Imagine has signed a strategic partnership with Romania-born International Information, which is claimed to be the largest unbiased music firm in Central and Japanese Europe.
As a part of the deal, Imagine has acquired a 25% stake in Bucharest-headquartered International Information, which has places of work in Romania, Germany and the US.
Imagine mentioned on Monday (July 8) that this strategic partnership “falls in line” with its “blueprint technique to give attention to music genres the place artist improvement and music consumption are digital”…
It’s official: Blackstone is about to develop into the brand new proprietor of Hipgnosis Songs Fund.
Blackstone’s USD $1.584 billion bid for the UK-listed music firm received overwhelming approval amongst HSF shareholders who voted at a Courtroom Assembly and Basic Assembly on July 8.
The method noticed 99.97% of the Scheme Shares voted by HSF shareholders approve the Blackstone deal.
Blackstone wanted at the least 75% of voting shares to get the deal over the road…
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
