Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make 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 revenue and cut back their touring prices.
A information report launched this week means that Sony Music, together with an unnamed associate, is in talks to purchase Queen‘s catalog (presumably each recorded and publishing rights) for an epic sum of $1 billion.
Talking of Sony, in a presentation on the firm’s annual Enterprise Phase Assembly, Sony Music Group Chairman Rob Stringer unveiled an fascinating proposal: He’s urging music streaming providers to begin charging a “modest price” for his or her ad-supported subscription tiers.
Elsewhere within the music enterprise, we obtained phrase this week that Okay-pop large HYBE bought a $50 million stake in rival firm SM Leisure. That’s noteworthy, given {that a} yr in the past HYBE misplaced a hard-fought battle towards Kakao Corp. for management of SM.
The information that the US Division of Justice has filed a lawsuit to interrupt aside Reside Nation and Ticketmaster continues to reverberate. In a brand new evaluation, MBW asks: May Reside Nation win this battle? The quick reply is: sure, they may.
Lastly, MBW took a glance this week at who’s bankrolling Suno, the uncannily good AI music generator now reported to be price $500 million. It seems Suno’s buyers are predominantly from tech, and few have a music background.
Sony Music is reportedly in talks to amass the catalog of iconic British rock act Queen.
That’s in accordance with Bloomberg, which printed an article on Wednesday (Might 29) citing sources as saying that Sony is presently “working with one other investor” on a transaction that “may probably complete $1 billion”.
Information of Sony’s reported talks to amass Queen’s catalog arrives a yr after Music Enterprise Worldwide broke the information (in Might 2023) that discussions have been taking place between Queen’s representatives and sure firms over a possible $1 billion-plus catalog sale.
That catalog, we reported, mixed each publishing and recorded music rights, all collectively and equally owned by the band’s surviving ‘basic’ line-up (Brian Might, Roger Taylor, John Deacon) plus the property of Freddie Mercury…
Sony Music Group Chairman Rob Stringer is setting his sights on a brand new monetization aim: Getting the music streaming providers to begin charging for his or her ad-supported subscription tiers.
Throughout his presentation at Sony Group’s annual Enterprise Phase Assembly on Thursday (Might 30), Stringer steered that DSPs begin charging a “modest price” on their free subscription tiers.
“Whereas free tiers appeal to billions of month-to-month customers, their poor contribution to streaming monetization means their major goal is to transform customers into paying subscribers,” Stringer mentioned.
“At Sony Music, we predict everyone seems to be prepared to pay one thing for entry to nearly the complete universe of music,” he added…
South Korea-headquartered leisure large HYBE has bought $50 million price of its shares in fellow Okay-pop firm SM Leisure.
That’s in accordance with a regulatory submitting printed by HYBE on Tuesday (Might 28), which signifies that the corporate has bought 755,522 shares of SM Leisure for 90,531 South Korean gained per share.
HYBE’s shareholding in SM Leisure has been diminished to 2.21 million shares on account of the transaction.
Based on the Korea JoongAng Each day, the shares bought by HYBE equates to a 3.2% stake in SM Leisure, lowering HYBE’s stake in SM to 9.38%…
After an 18-month investigation, the US Division of Justice has filed a civil antitrust lawsuit towards Reside Nation, proprietor of Ticketmaster, for what it says is “monopolization and different illegal conduct that thwarts competitors in markets throughout the reside leisure trade.”
The DoJ went for the jugular, asking the US District Courtroom for the Southern District of New York to order the break-up of the corporate, in order that Reside Nation and Ticketmaster would as soon as once more be two separate entities after spending 14 years beneath one company roof.
Authorized analysts say the truth that the DoJ, beneath then-President Obama, permitted the merger within the first place in 2010, and got here to a different settlement over alleged monopolistic practices in 2019, means it may have a tough time convincing the court docket right this moment that breaking apart Reside Nation/Ticketmaster is a mandatory treatment to the issues it alleges.
But the political surroundings of our period is notably totally different from the Obama period. Reside Nation argues that the antitrust case towards it’s the results of the US authorities succumbing to a “populist urge” within the physique politic, and certainly we live via a populist period…
Information broke final week that AI music generator Suno has raised USD $125 million in a Sequence B funding spherical.
Based on sources cited by The Info, that offers the corporate an implied worth of $500 million. Not dangerous for a startup born simply two years in the past.
Suno is among the most outstanding AI music technology platforms, able to creating full tracks that sound so convincingly like human-made music that it has reportedly unnerved even a few of its personal builders.
Beneath, we check out Suno’s buyers, their philosophies, and the opposite companies they’ve put cash behind. One factor jumps out: They’re predominantly from tech, and never from the music trade…
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
