Welcome to Music Business Worldwide’s weekly round-up – the place we be 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 maximize their revenue and cut back their touring prices.
When the world’s greatest music rightsholder spends an eight-figure sum on an acquisition, it’s time to sit down up and take discover.
That’s what occurred over the previous week, as Universal Music Group confirmed its acquisition of a majority stake in Thailand’s RS Group.
The price?
As revealed by a public submitting in Thailand, UMG is spending an preliminary USD $45.5 million on the purchase – which is anticipated to shut in Q3 – adopted by a possible further $4.9 million.
Elsewhere this week, TikTok confirmed that its new Spotify-rivalling subscription music app – TikTok Music – is launching in Brazil and Indonesia.
It can successfully change ByteDance‘s Resso in each territories, which is being phased out in every market over the approaching months.
Different headlines we lined this week concerned the likes of Queen (nonetheless making a number of cash), Taylor Swift (maybe making much more than she’d anticipated), and Raine Group (who’ve raised a heck of some huge cash).
Listed here are 5 tales you should find out about from the previous 5 days…
That is all fascinating context to contemplate following the information that Common Music Group has simply dedicated USD$45.5 million to acquire a majority stake in RS Group in Thailand.
That $45.5 million price-tag might rise by an extra $4.9 milion in future, in response to filings, whereas the deal is anticipated to shut in Q3 2023.
Thailand is turning into a strong market in Asia for the recorded music business, with 20% YoY income development in 2022. The territory surpassed $100 million in wholesale market income for the primary time final 12 months.
Following months of hypothesis and evaluation about TikTok’s plans to launch a standalone music streaming service, on Thursday (July 6), ‘TikTok Music’, a streaming app and critical new Spotify rival, formally arrived.
Based on Ole Obermann, International Head of Music Enterprise Improvement at TikTok, the app is “a brand new form of service that mixes the ability of music discovery on TikTok with a best-in-class streaming service”.
TikTok Music has launched as a premium-only music subscription service in Indonesia and Brazil, and it’s licensed by, and contains the catalogs of all three main report corporations: Common Music Group, Warner Music Group and Sony Music….
Over the previous few weeks, Music Enterprise Worldwide has been rooting out new particulars about one of many music enterprise’s most argued-over sagas: the sale of the grasp rights to Taylor Swift’s first six albums, initially recorded for Big Machine.
In our newest chapter of this investigation, we obtained – and revealed parts from – an unsigned June 2020 NDA mutually drafted between Swift’s crew at 13 Administration and Scooter Braun’s Ithaca Holdings.
This NDA was created to advance talks between the events over the potential sale to Swift of her ‘Massive Machine’ masters from Ithaca. It contained what seemed to be a reasonably boilerplate clause stopping both sides from talking publicly about confidential deal negotiations
All of that, although, is now firmly up to now.
Whether or not or not there have been some parts of Swift and her crew ‘negotiating in public’ with Braun through accusations in regards to the aforementioned NDA, historical past will present that, ultimately, a deal wasn’t agreed between 13 Administration and Ithaca.
Braun would ultimately ink a sale for the grasp rights to Swift’s first six albums to Shamrock Capital for a complete of USD $405 million in October 2020.
So what occurred subsequent? That’s the main target of this text – the place we reveal simply how profitable Taylor Swift’s ‘Taylor’s Model’ re-records of her Massive Machine albums have been to this point, forward of the discharge of Converse Now (Taylor’s Model) this Friday (July 7)…
British rockers Queen noticed a critical spike of their earnings lately, owing in no small half to the success of the Oscar-winning 2018 biopic Bohemian Rhapsody.
Almost half a decade down the highway from that film’s launch, one would suppose the band’s earnings could be dropping again down once more. Not so.
The most recent annual report from Queen Productions Ltd. – the UK-based firm that collects the band’s turnover – reveals that within the fiscal 12 months ending September 30, 2022, the band took in £40.89 million (USD $50.41m at common annual change charges as per the IRS).
That’s a rise of 4.3% from FY 2021, when turnover got here in at £39.19 million. (In US greenback phrases, that involves $53.9 million, because the British pound was stronger in opposition to the greenback that 12 months.)…
The Raine Group, a world strategic advisory and funding agency, has closed its latest fund, Raine Companions IV.
The full measurement of the fund is over $760 million, bringing The Raine Group’s complete Property Below Administration to just about $4 billion.
Raine Group is an current investor in music corporations equivalent to SoundCloud, C3 Presents, and Amuse. It is usually the first backer behind Firebird Music Holdings.
As an advisor, Raine Group has been concerned in main latest transactions within the music business together with HYBE’s ~$300 million acquisition of Quality Control…
