Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make sure that you caught the 5 largest 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 earnings and cut back their touring prices.
In a submission to the UK authorities’s session on AI and copyright legislation, Sony Music revealed that it has already requested the removing of greater than 75,000 AI-generated deepfakes of its artists’ content material, illustrating simply how quickly this downside has exploded.
Additionally this week, Blackstone, which acquired Hipgnosis Songs Fund final 12 months for $1.58 billion, introduced that it’s rebranding Hipgnosis belongings as Recognition Music Group. Nevertheless, MBW‘s sources say the Hipgnosis identify might stay on, as Merck Mercuriadis has apparently retained the rights to it, and should use it because the identify of his new firm.
In the meantime, MBW broke the information this week that Harmony may be very shut to creating one other vital acquisition. This time, the goal is Stem, a Los Angeles-headquartered music distribution and funds platform, in what our sources inform us is a excessive eight-figure deal.
Whereas Harmony is shopping for, Pershing Sq. is promoting. Invoice Ackman‘s funding agency is planning to promote a 2.7% stake in Common Music Group for $1.4 billion, in line with a Bloomberg report.
Lastly, Consider launched its 2024 annual report, exhibiting income development of 11.5% YoY on an natural foundation to EUR €988.8 million (USD $1.070 billion).
Sony Music has challenged the UK authorities’s proposed copyright reforms, revealing it has already requested the removing of greater than 75,000 AI-generated deepfakes of its artists’ content material.
The music large warned that proposed modifications to copyright legal guidelines can be “rushed, unbalanced and irreversible” and will considerably hurt the British artistic economic system.
In a submission to the federal government’s session on AI and copyright legislation, obtained by the Monetary Instances and The Sunday Instances, Sony described the proposals as a menace to an business that contributes £7.6 billion (USD $8.23 billion) yearly to the UK economic system.
The session, which closed on February 25, facilities on plans to introduce a “textual content and knowledge mining” exemption that might enable AI firms to make use of copyrighted supplies for coaching functions with out permission until creators particularly choose out…
Blackstone has introduced that it’s going to not be utilizing the Hipgnosis identify.
As an alternative, it’s bringing collectively its 45,000 songs and the workforce charged with maximizing their earnings beneath a brand new model: Recognition Music Group.
As a part of this refresh, Blackstone hints that additional acquisitions could also be on the best way, noting in a press launch: “Constructing on its relationship with songwriters and artists and as a extremely succesful enterprise for buying and managing catalogues, Recognition is effectively positioned for future development and to ship superior returns to its buyers.”
Trade whisperers inform MBW that, simply as Storm Thorgerson wished all these years in the past, Merck Mercuriadis has retained his rights to the Hipgnosis identify and firm identification.
In actual fact, one supply means that Mercuriadis is probably going to make use of the Hipgnosis identify for the brand new firm he’s constructing, which is about to be unveiled later this 12 months…
MBW hears that Harmony may be very shut to creating one other vital acquisition.
Our sources inform us that the corporate is within the last levels of buying Stem, a Los Angeles-headquartered music distribution and funds platform, in a excessive eight-figure deal, above $50 million.
The deal isn’t fairly completed but, in line with our sources. We additionally hear that The Raine Group is in the midst of it.
This information arrives round 4 months after Harmony efficiently closed an asset-backed securities (ABS) transaction, which noticed the corporate elevate $850 million in debt financing by means of a non-public securitization backed by its catalog of music rights…
Invoice Ackman’s Pershing Sq. is about to boost $1.4 billion from the sale of “a few 2.7% stake” in Common Music Group.
That’s in line with Bloomberg, which reported this afternoon (March 13) that it has seen phrases of a deal that present “Pershing Sq. Holdings Ltd., Pershing Sq. LP and Pershing Sq. Worldwide Ltd. are poised to cost an providing of about 50 million Common Music shares at €26.60 every”.
Bloomberg additionally reported that Morgan Stanley is engaged on the share sale.
In a press release revealed on X on Thursday, Ackman stated: “We determined to promote a portion of our UMG place immediately”…
Paris-headquartered music firm Consider has revealed its monetary outcomes for FY 2024 (the 12 months ending December 31).
In line with Consider’s submitting, the corporate generated revenues of EUR €988.8 million (USD $1.070 billion) in 2024 throughout its whole enterprise.
The corporate’s FY revenues grew by €108.5 million ($117.42m), from €880.3 million in 2023, reflecting a rise of 12.3% YoY.
On an natural foundation (at a like-for-like perimeter and fixed trade fee), Consider’s revenues grew 11.5% YoY….
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.Music Enterprise Worldwide
