Welcome to Music Business Worldwide’s weekly round-up – the place we make certain 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 maximise their revenue and cut back their touring prices.
The catalog acquisition market is on hearth – and legendary songwriters (and their estates) are cashing in on what’s being described by many as a gold rush for music rights.
Iconic music makers from Neil Young to Bob Dylan and Lindsey Buckingham have bought their catalogs previously yr, with hypothesis swirling in music enterprise circles about which megastar artist might be subsequent to strike a mega-bucks catalog deal. Sting, Springsteen, Bowie are within the rumor mill.
One celebrity artist who undoubtedly gained’t be becoming a member of this listing nonetheless, is Sir Elton John.
That’s in accordance to Rocket Entertainment CEO David Furnish, John’s supervisor for the previous six years (in addition to his long-term companion and husband).
Asked if Elton John may ever think about selling his tune catalog, Furnish instructed MBW: “At this stage, it’s unthinkable. The thought of giving up that control in connection with your art… no.”.
One catalog that would probably be underneath new possession quickly nonetheless, is that of David Bowie, whose tune rights are reportedly on the block for roughly $200 million.
The current information of negotiations between Bowie’s property and a possible purchaser comes simply as Warner Music Group pronounces this week that it’s elevating $535 million so as to part-fund three new potential acquisitions.
This week on Music Business Worldwide‘s Talking Trends podcast, MBW founder Tim Ingham suggests that WMG could be in line to buy David Bowie’s catalog, and explains why the deal would make good sense for the foremost.
Meanwhile, following SoundCloud‘s industry-first move back in March to launch “fan-powered royalties”, this week saw TIDAL become the latest music streaming service to adopt a user-centric payment model.
Starting in 2022, TIDAL will introduce ‘Fan-centered royalties’ for its new $19.99 HiFi Plus membership possibility, which is able to see royalties attributed to HiFi Plus subscribers paid to artists primarily based on subscribers’ particular person streaming exercise.
Elsewhere this week, Universal Music Group introduced its intention to goal ‘name and likeness’ acquisitions by way of a brand new partnership with Authentic Brands Group, and DistroKid has change into one of many newest corporations to enter the NFT market.
Here’s the massive music biz information from this week…
David Furnish, CEO of Rocket Entertainment, in addition to Sir Elton John’s long-term companion husband, and supervisor for the previous six years, sat down for an unique interview with Music Business Worldwide – which might be printed within the upcoming This autumn concern of our sister publication, Music Business UK.
Amongst many questions posed about Furnish and John’s working relationship, Furnish was requested if Elton may ever be tempted to promote his tune catalog within the present local weather.
“At this stage, it’s unthinkable,” mentioned Furnish, with out hesitation. “The thought of giving up that control in connection with your art… no.”…
This week on our Talking Trends podcast, host Louise Porter asks MBW founder Tim Ingham in regards to the information that Warner Music Group is elevating $535 million so as to part-fund three new potential acquisitions.
Ingham means that one acquisition that makes good sense for Warner is David Bowie’s songwriting catalog, which is reportedly on the block for round $200 million.
He factors out that Warner’s Max Lousada has already introduced an necessary take care of the Bowie property this yr – with Warner licensing Bowie’s total post-1968 recordings catalog from 2023 onwards.
This could have “opened an ongoing line of negotiation” between WMG and the Bowie property.
Warner including the legendary artist’s songwriting catalog to its management of his recorded rights could possibly be the proper complement…
Universal Music Group has confirmed it’s launching a strategic alliance with Authentic Brands Group (ABG) to purchase and actively handle artist manufacturers.
ABG is a world model proprietor whose portfolio already consists of iconic superstar manufacturers akin to Marilyn Monroe, Muhammad Ali, and Elvis Presley.
According to a press launch, ABG makes use of these rights to create “memorable brand experiences that come to life across key consumer touchpoints, platforms and emerging media”…
TIDAL, acquired by Jack Dorsey’s fintech fim Square earlier this yr for over $300 million, is planning to launch a user-centric royalties system for a brand new $19.99 HiFi Plus membership possibility.
Starting in 2022, the music streaming service is planning to undertake what it calls a ‘Fan-centered royalties’ method for its new HiFi Plus members, and it says that it has the help from the “vast majority of its record label and distributor partners”.
Speaking to MBW, TIDAL COO Lior Tibon says that there are greater than 100 companions on board…
Another day passes, one other music firm dips its toes into the possibly profitable world of NFTs.
BTS and Timbaland have already jumped on the NFT prepare, and NFTs that started life as artworks of cartoon apes are actually forming ‘metaverse’ bands.
NFT platforms are elevating critical money too, and this week, NFT platform Opulous introduced that Mark Gillespie, the founder and CEO of Three Six Zero, had joined the corporate as a Senior Advisor.
Now, the $1.3 billion valued DistroKid is collaborating with 10,000 unbiased musicians to mint 10,000 distinctive and collectible NFTs that commemorate the music of every artist….
Music Business Worldwide