Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure that 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.
MBW’s most-read tales this week centered on the authorized dispute between Drake and Common Music Group over Kendrick Lamar‘s diss monitor Not Like Us.
The fallout took a dramatic flip this week when Drake filed a defamationlawsuit towards the corporate, with UMG outright rejecting the declare.
In different UMG information, the agency introduced that Pershing Sq. Holdings, led by billionaire investor Invoice Ackman, has requested a secondary itemizing of the music firm on a US inventory change. Pershing Sq. Holdings should promote $500 million of UMG inventory to make the US itemizing occur.
Elsewhere this week, the Supreme Courtroom upheld the legislation requiring TikTok to promote its US operations or shut down within the US. Experiences point out President-elect Donald Trump is contemplating an govt order to delay the legislation’s implementation.
Plus, MBW reported on the rising whispers that $500 million-valued Tempo Music would be the subsequent main acquisition within the enterprise.
The music trade’s consideration and sympathy continued to be directed to Los Angeles this week within the wake of the devastating wildfires. The FireAid profit live performance – produced by Shelli & Irving Azoff and the Azoff household, together with Stay Nation and AEG Presents – has confirmed a variety of performers for the January 30 charity occasion.
Three years in the past, MBW informed you that Tempo Music, the music rights fund launched by non-public fairness large Windfall, was seeking to promote its catalog at a valuation of round $500 million.
The sale didn’t occur. As rates of interest started to rise steeply in markets together with the UK and US, blockbuster acquisitive exercise in music famously cooled.
Final 12 months, although, with rates of interest declining and/or wanting extra steady in main territories, chatter started to select again up about Tempo.
Now we’re listening to more and more loud whispers that we’re weeks away from the conclusion to this story: a sale of Tempo’s portfolio at a valuation of round half a billion {dollars}…
Common Music Group has responded to a defamation lawsuit filed by Drake on Wednesday (January 15).
Throughout the lawsuit, the celebrity artist accuses UMG of selling a “false and malicious narrative” about him by way of the content material of the lyrics, single paintings, and music video for the Kendrick Lamar diss monitor Not Like Us.
In response to the defamation lawsuit, a spokesperson for Common Music Group informed MBW that “not solely are these claims unfaithful, however the notion that we might search to hurt the fame of any artist — not to mention Drake — is illogical.”
UMG’s spokesperson added the corporate “will vigorously defend this litigation to guard our folks and our fame…”
The clock is formally ticking for TikTok in the US.
Final Friday (January 10), legal professionals for the social media app tried to persuade US Supreme Courtroom Justices to both scrap or quickly block a legislation that would see TikTok banned available in the market if its Chinese language proprietor ByteDance doesn’t promote the app within the US by January 19.
As we speak (January 17), the Supreme Courtroom introduced its resolution: The legislation will likely be upheld, which implies TikTok’s US operations should be divested to keep away from being shut down available in the market – the place it counts over 170 million customers…
Common Music Group (UMG) introduced Wednesday (January 15) that Pershing Sq. Holdings, led by billionaire investor Invoice Ackman, has requested a secondary itemizing of the music firm on a US inventory change.
Underneath a beforehand disclosed settlement, UMG will facilitate an underwritten providing for Pershing Sq. to promote a portion of its shares by September 15, 2025.
The deal requires Pershing to promote a minimum of $500 million price of its UMG holdings as a part of the itemizing course of…
Shelli and Irving Azoff, and the Azoff household, have teamed up with Stay Nation and AEG Presents to host two profit concert events to lift funds for communities devastated by the continuing wildfires in Southern California.
Among the many headliners for the FireAid concert events are Billie Eilish and Finneas, Earth, Wind & Hearth, Gracie Abrams, Inexperienced Day, Gwen Stefani, Jelly Roll, Joni Mitchell, Katy Perry, Woman Gaga, Lil Child, P!nk, Pink Scorching Chili Peppers, Rod Stewart, Sting, Stephen Stills, Stevie Nicks, and Tate McRae. Moreover, Dave Matthews and John Mayer will carry out collectively for the primary time.
Each concert events will happen the identical night time – Thursday, January 30 – on the Intuit Dome and the Kia Discussion board, each in Inglewood, L.A….
MBW’s Weekly Spherical-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.Music Enterprise Worldwide
