From Queen’s $1bn brochure to HYBE raising $380m for acquisitions in the United States … it’s MBW’s Weekly Round-Up
Welcome to Music Organization Worldwide‘s weekly round-up– where we make certain you captured the 5 greatest stories to strike our headings over the previous 7 days. MBW’s round-up is supported by Centtrip, which assists over 500 of the world’s very popular artists optimize their earnings and lower their touring expenses.
Are we simply months far from music’s very first billion-dollar brochure offer?
This previous week, MBW broke the news that Queen’s brochure might be offered this year for over $1 billion.
Our sources inform us that the preliminary phases of a sale procedure for the band’s brochure is underway, which a complete acquisition might be finished by the end of this summer season.
Likewise today, South Korean home entertainment huge HYBE was reported to be seeking to raise around 500 billion Korean won (approx USD $380m) to money acquisitions in the United States.
The news was initially reported by Bloomberg, which, mentioning individuals knowledgeable about the matter, reports that HYBE, the music business behind K-pop super stars BTS and increasing stars New Denim, “remains in talks with financiers to protect equity funding”.
On The Other Hand, Cutting Edge Media Music, a popular purchaser of movie and television music rights, entered the world of popular song today, striking a handle pop songwriter and manufacturer Jamie Hartman. MBW comprehends that the offer tipped into the eight-figure world.
Plus, MBW grilled TikTok’s Worldwide music manager Ole Obermann, while Ezekiel Lewis was promoted to President of Legendary Records
2 years back, MBW ran a popular story with an eye-catching heading: “Queen’s music is making insane cash. Could it deserve over a billion dollars?”
The response to the concern, we now speak with numerous top-level music market sources, is a definite yes.
We’re informed that the preliminary phases of a sale procedure for the band’s brochure– integrating both music publishing and taped music rights– is in progress, which a complete acquisition might be finished by the end of this summer season.
Significant music business consisting of Universal Music Group have actually remained in conversations relating to a possible acquisition, we’re informed, in addition to gamers from the world of personal equity …
HYBE, the music business behind K-pop super stars BTS and increasing stars New Denim, is seeking to raise around 500 billion Korean won (approx USD $380m) to money acquisitions in the United States.
That’s according to Bloomberg, which, mentioning individuals knowledgeable about the matter, reports that the South Korean home entertainment giant “remains in talks with financiers to protect equity funding”.
The report includes, mentioning those very same individuals, that HYBE “is open to having both tactical and monetary partners …”
” A few of the short-form video suppliers are fairly brand-new … it does not take a researcher to understand that we are being underpaid by [them]”– Rob Stringer, Sony Music Group Chairman.
” In regards to where we’re presently located … we’re going to be striving to enhance the economics for our artists and labels moving on”– Michael Nash, EVP and Chief Digital Officer, Universal Music Group.
” I have actually seen this motion picture prior to. I understand the ending”– Sir Lucian Grainge, CEO & & Chairman, Universal Music Group.
The inexperienced eye may not discover that these current remarks from significant music business leaders (and more like them) are particularly laser-targeted towards TikTok.
TikTok does not even get a direct reference in any of them. However those who understand, understand.
One person who comprehends specifically what these music officers are saying-without-saying is ByteDance‘s Worldwide Head of Music Organization Advancement (and for that reason TikTok’s de facto international head of music), Ole Obermann.
Obermann invested 13 years at significant record business– a years at Sony Music/ BMG and after that 3 years at Warner Music Group— prior to signing up with ByteDance in 2019.
Today, he is mainly accountable for TikTok’s licensing relationship with music rightsholders both big (significant labels) and little (indie artists).
Prior to taking a seat with MBW for this interview, Obermann is pre-warned that we’re going to fire a variety of gnarly concerns his method– the majority of them notified by grumbles-over-a-drink we have actually heard in Record Label Land.
He is unwinded about that concept. Sure enough, he smiles as the heat gets shown up throughout our questioning– even laughing on the celebrations we spritz a couple of particles of embellishment into procedures.
For Obermann, this Q&A isn’t just a possibility to set the music market directly on (as he sees it) lost gripes over the size of the checks being paid by TikTok to labels and publishers. It’s likewise a chance to magnify his view that TikTok will birth financially rewarding brand-new locations of service for music rightsholders– cumulatively worth billions of dollars– through ‘sync’ licensing for advertisements by brand names on TikTok, and through real-time e-commerce …
Cutting Edge Media Music is entering the world of popular song, striking a handle popular songwriter and manufacturer Jamie Hartman, who’s composed or co-written various hits for artists such as Lewis Capaldi, Celeste, Calvin Harris, Rag ‘n’ Bone Guy and the Backstreet Boys, amongst numerous others.
CEMM states it “will acquire most of Hartman’s back brochure royalties”, released through his handle Tank Media, that includes numerous tunes he’s composed and worked together on with artists consisting of Rag ‘n’ Bone Guy, Calvin Harris, Kygo and Lewis Capaldi in addition to tunes for commercials, television and movie composed with artists such as Carole King, Jennifer Hudson and Christina Aguilera.
MBW comprehends that CEMM has actually purchased most of Hartman’s authors’ share. Hartman continues to be released by Tank …
Ezekiel Lewis has actually been promoted to President of Legendary Records.
He will continue to report to Sylvia Rhone, Legendary Records’ Chairwoman and CEO, and to lead the A&R department while assisting run the daily operations of the Sony Music-owned label.
Lewis has actually worked as the business’s Executive Vice President and Head of A&R given that 2020 …
