welcome to The music trade world wideWeekly Recap – the place we be sure to’ve caught the 5 largest tales which have made headlines up to now seven days. The MBW Roundup is supported by Centtripwhich helps over 500 of the world’s best-selling artists maximize their earnings and decrease their touring prices.
Youtube had some massive information for the music trade this week.
On Tuesday, September 13, the platform’s world head of music, Lyor Cohen, introduced that YouTube was paying music rights holders on USD $6 billion inside 12 months to the tip of June 2022.
Cohen additionally confirmed this week that roughly 30% of that greater than US$6 billion that YouTube delivered to music rights holders within the yr via the tip of June got here particularly from UGC (content material generated by the consumer).
Or to place it in easier phrases: YouTube now pays music rights holders someplace close to $2 billion yearly in promoting income generated by UGC.
Additionally this week, the Goldman Sachs Communacopia + Expertise convention organized individually Questions and solutions classes with Common Music Group President and CEO Sir Lucian Graingeand Warner Music Group CEO, Steve Cooper.
In the course of the interview with Sir Lucian Grainge, he commented on the prospects for development in music streaming within the face of financial uncertainty and the price of residing disaster, and on the facility relationship between labels and DSPs.
Steve Cooper, in the meantime, defined that Warner Music was turning into much less financially depending on famous person artists – and wished to see “regular” will increase in streaming costs.
Elsewhere this week, Common acquired mtheory’s label division, with JT Myers and Nat Pastor appointed to steer UMG’s world artist companies enterprise, whereas Tencent Music confirmed it should go public in Hong Kong. with out elevating new funds.
This is what occurred this week…
YouTube says it nonetheless intends to high Spotify as the largest companion within the music rights trade by 2025 – though proper now the 2 corporations appear to be just about retaining tempo with one another.
On Tuesday, September 13, YouTube’s world head of music, Lyor Cohen, introduced that YouTube had paid music rights holders greater than US$6 billion within the 12 months ending June 2022.
This determine is important for a lot of causes, together with that it is a $2 billion enhance from the $4 billion contribution to music rights holders that YouTube mentioned it paid over the course of the yr. of the interval of the earlier yr (the 12 months till the tip of June 2021).
It is also double the cash YouTube mentioned it paid out to the music trade in calendar yr 2019 ($3 billion)…
Sir Lucian Grainge does not do many interviews, so when he speaks publicly, it is value paying shut consideration to the person on the helm of the world’s largest music rights firm.
Grainge, the chairman and CEO of Common Music Group, took half in a Q&A session on Monday (September 12) on the Goldman Sachs Communacopia + Expertise Convention in San Francisco.
In the course of the interview, Grainge was requested about his views on the expansion potential of premium music streaming and the corporate’s method to catalog investments.
He argued that UMG has made “only a few offers,” however that the offers the corporate has made are for works which have “outlined a historical past or a tradition.”
Are you aware the very best time to interview a senior government at a serious music firm? Whereas they’ve already introduced their departure.
This manner they could be a little much less discreet. Rather less involved with retaining the peace. Somewhat extra ‘mic drop’.
That actually utilized to Warner Music Group CEO Steve Cooper talking on the Goldman Sachs Communacopia + Expertise convention in San Francisco on Monday, September 12.
Cooper, in fact, confirmed earlier this yr that he was to depart Warner in 2023 and is at present main the foremost because it searches for his successor.
The chief was typically thought-about throughout his Q&A session with Goldman – however he additionally did not miss the possibility to handle a lot of trade speaking factors head-on and with shocking candor. …
Common Music Group has simply made a big announcement encompassing a number of components that individually are every enormous tales in their very own proper.
The primary massive information is that Common has acquired mtheory Artist Partnerships, the label division of American music firm mtheory, based in 2010 by extremely revered executives JT Myers and Nat Pastor.
Among the many many causes UMG’s cope with mtheory is especially attention-grabbing is that UMG hasn’t made a big company acquisition for a while.
The deal additionally successfully serves as an “acquisition,” with mtheory founders being named co-CEOs of a brand new world division known as Virgin Music Group that consolidates UMG’s artist companies enterprise…
5) CONFIRMED: TENCENT MUSIC GOES PUBLIC IN HONG KONG WITHOUT RAISING NEW FUNDS
Tencent Music Leisure has confirmed that it’s launching a secondary itemizing in Hong Kong as an IPO, which implies the corporate won’t elevate new funds or difficulty new shares in contrast to conventional IPOs.
The Chinese language music streaming large, which operates QQ Music, Kugou and Kuwo, has confirmed that it’ll checklist its Class A bizarre shares by the use of IPO on the principle board of the Hong Kong inventory change, in accordance with a press launch issued. Wednesday, September 14.
The disclosure confirms a Bloomberg report on Wednesday September 14 about TME’s plans to go public in Hong Kong…
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