Welcome to Music Business Worldwide’s weekly round-up – the place we be sure 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 scale back their touring prices.
These long-promised hazy, lazy summer time months are right here! Worry not: MBW will carry on sniffing out all of the music biz headlines you could see.
Previously week, main information tales from across the trade have included BMG‘s acquisition of Paul Simon’s artist royalty stream – and neighboring rights – for his recordings with Simon & Garfunkel.
Elsewhere, by way of Hits and Selection, we’ve discovered that negotiations over the acquisition of the Warner Bros movie and TV music publishing catalog (which have been first reported on in January) are reaching extra superior phases.
The newest: Warner Bros Discovery is now apparently negotiating to promote round half of the catalog for about $500 million (with the total catalog due to this fact clearly being valued at round $1 billion). Sony is reportedly in pole place to amass the stake.
Different huge information tales this week included MBW’s additional revelations in regards to the negotiations that came about between Taylor Swift (and her crew at 13 Administration) and Scooter Braun’s Ithaca three years in the past.
The newest: Braun really wished to promote Swift her masters again, in response to emails we’ve seen.
Swift’s crew stated they objected to a “gagging order” in an NDA supplied by Braun/Ithaca (which Swift then infamously spoke publicly about). Nevertheless, MBW has obtained that full NDA and, in our view, the outline of “gagging order” is… pushing it, to say the least.
Right here’s what occurred this week…
From Selection: “Warner Bros. Discovery is negotiating to promote round half of the storied Warner studio’s movie and TV music-publishing belongings for about $500 million, three sources verify to Selection. The information was first reported by Hits.
Whereas it’s unclear precisely which belongings are on the desk, one supply says that the rights to “barely lower than half” of the catalog, with a worth of round $500 million, are more likely to go to a serious label, with Sony stated to be within the lead… (Selection)
Final week, MBW obtained a signed five-page NDA from November 2019 between Scooter Braun’s Ithaca Holdings and Taylor Swift’s administration crew – 13 Administration – which contained no point out of reputational protections for Scooter Braun.
This was complicated, as in November 2020, Taylor Swift publicly alleged: “Scooter’s crew wished me to signal an ironclad NDA stating I might by no means say one other phrase about Scooter Braun until it was constructive, earlier than we may even take a look at the monetary information of BMLG.”
Now, MBW has obtained extra startling proof on this saga.
It reveals simply how shut Scooter Braun and Ithaca got here to promoting Swift the rights to her first six albums – and the way a possible deal fell aside… (MBW)
One of many world’s greatest ever music catalog acquisition offers came about two years in the past, when legendary songwriter Paul Simon offered his music publishing catalog to Sony for a worth believed to be within the area of USD $250 million-plus.
Now, we be taught that Simon has offered different beneficial belongings associated to his catalog to BMG, for an undisclosed sum.
BMG has acquired Simon’s artist royalty revenue stream – along with his neighboring rights revenue stream – from Simon & Garfunkel recordings (not together with Simon’s solo work).
In different phrases: BMG will likely be paid Simon’s artist royalty share at any time when Simon & Garfunkel’s basic recordings – which proceed to be owned by Columbia/Sony Music – are streamed or bought. (MBW)
Taylor was beforehand CEO of the BPI – the London-based UK commerce physique that represents the pursuits of the foremost file corporations, along with some unbiased labels. (MBW)
Final Wednesday (June 14), the US commerce physique, led by President and CEO, David Israelite, held its Annual Assembly for 2023 in New York, the place it introduced an abundance of fascinating data (such because the beneath slides) to its music writer members.
Mentioned data included one enormous stat for the music enterprise: The general commerce income of US-based music publishers in calendar 2022 stood at USD $5.605 billion, up 19.25% YoY.
The place this will get very fascinating is if you examine that quantity to the equal determine from the file trade… (MBW)