welcome to The music business around the globeWeekly Recap – the place we ensure you’ve caught the 5 greatest tales which have made headlines previously seven days. The MBW Roundup is supported by Centtripwhich helps over 500 of the world’s best-selling artists maximize their revenue and decrease their touring prices.
It has been an eventful week within the international rights acquisition house.
On Thursday (September 29), we discovered that Concorde acquired the publishing and recorded music catalogs of Phil Collins and fellow Genesis bandmates Tony Banks and Mike Rutherford.
Citing sources, The the wall avenue journal reported the “megadeal” might be valued at over $300 million.
The settlement follows the current settlement of Harmony buy property of HitCo leisure and its eight-digit acquisition from Australian music writer Native Tongue.
Elsewhere, Stockholm-based Pophouse Leisure has introduced a take care of Avicii’s (Tim Bergling) household and property to purchase 75% possession of the late celebrity’s grasp recordings and version.
The Bergling household will proceed to be intently concerned in Avicii’s music as a minority proprietor of a 25% stake, along with forming a JV with Pophouse.
This week additionally introduced information of a brand new Singapore-based fund that was launched to purchase catalogs in Asia with an preliminary increase of $100 million.
Managed by Prime Asia Asset Administration and primarily based in Singapore, the fund is led by extremely revered music business veteran Chee Meng Tan (founder and CEO of the group).
The brand new firm’s administration staff additionally contains Garand Wu (Chairman, Larger China), the previous Managing Director of Common music (China).
Additionally this week, Apple eliminated Russian VK apps from its app retailer, whereas GMB booked each night time till the top of 2024 in one in every of Berlin’s most famed theaters.
Here’s what occurred…
1) PHIL COLLINS, MIKE RUTHERFORD AND TONY BANKS OF GENESIS SELL RIGHTS TO CONCORD IN $300M DEAL
Harmony once more acquired.
This time, the corporate picked up the publishing and recorded music catalogs of Tony Banks, Phil Collins and Mike Rutherford, in addition to the publishing and recorded music catalog from their years within the band Genesis.
Citing “folks accustomed to the transaction”, the Wall Avenue Journal reviews that the “megadeal” is “valued at greater than $300 million…”
2) POPHOUSE ENTERTAINMENT ACQUIRES 75% OF AVICII’S MASTER RECORDINGS AND EDITION
Pophouse Leisure, the Swedish leisure firm run by former Common music Sweden’s managing director, Per Sundin, has acquired a 75% stake in Avicii’s masters and publishing catalog.
The deal follows the launch of the Avicii Expertise interactive tribute museum in Stockholm in February, born of a partnership between the household and property of Avicii (Tim Bergling) and Pophouse CEO Sundin, who first signed Avicii as CEO of Common Sweden in 2010.
Pophouse disclosed the most recent deal in a joint assertion with the Tim Bergling Basis on Wednesday, September 28, with out revealing the monetary phrases of the transaction…
Up to now, the main gamers within the international music rights acquisition house are based totally in the US and Europe.
However in Asia, new funds with giant capitals have began to make noise in current months.
In June, for instance, Seoul-based Past Music, which claims to be Asia’s largest music IP asset administration firm, outlined plans “to faucet into the worldwide music IP market”. The corporate mentioned it expects to have 1 trillion South Korean gained ($800 million) in property beneath administration by the top of this 12 months.
Now MBW can reveal {that a} new Asia-focused fund has simply entered the house and is launching with an preliminary increase of US$100 million…
Apps operated by Russian tech big VK have been faraway from Apple’s App Retailer globally, together with VKontakte, Russia’s reply to Fb.
Along with VKontakte, The Verge reviews that VK-owned music app VK Music has additionally been taken down by Apple, together with VK apps Mail.ru and Youla classifieds.
Quoting an Apple spokesperson, The Verge reviews that the apps have been taken down in response to new UK sanctions in opposition to Russian corporations…
5) BMG HAS JUST BOOKED ONE OF GERMANY’S MOST PRESTIGIOUS THEATERS EVERY NIGHT UNTIL THE END OF 2024
It is attention-grabbing: BMG has simply taken one other huge step in the direction of turning into a critical participant in reside leisure in Germany.
Thursday (September 29), the Bertelsmannintroduced that it had booked one in every of Berlin’s most famed theaters, the 1,600-seat Theater des Westens (TdW), each night time till the top of 2024.
BMG says it did this to “present a house for its rising reside occasions enterprise”.
Particularly, the music firm says it’ll use the theater to host each its “rising listing of musicals” and Vegas/Broadway-style artist residencies (a la Springsteen on Broadway)…
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