music-business3.16 min read
Queen's $1 Billion Music Catalog Sale to Sony in the Works
1 year ago•Source: BBC.com
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3.58 min•1 year ago
"Universal Music Strengthening Ties with Spotify Amid TikTok Dispute"
Universal Music Group has expanded its strategic relationship with Spotify, allowing for new promotional and social tools for UMG artists on the platform, as well as the distribution of music videos in the US through a new agreement with Universal Music Publishing Group. This comes after Universal's licensing dispute with TikTok, which led to the loss of UMG's catalog on the app. The new deal with Spotify aims to enhance engagement and monetization opportunities for artists and songwriters, with features such as teasers for upcoming music releases and plans for additional tools to drive fan interaction and discoverability.
1.605 min•1 year ago
Sony Music Acquires Half of Michael Jackson's Catalog for $600M
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Universal Music Group Issues Ultimatum to TikTok Over Song Licensing
Hollywood Reporter•1 year ago
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Coldplay Fires Back: Countersuing Ex-Manager Dave Holmes for $17M
Originally Published 2 years ago — by Stereogum
Coldplay is countersuing their former manager, Dave Holmes, for $17 million, claiming that he mismanaged their Music Of The Spheres Tour, resulting in financial issues. The band alleges that Holmes spent $10 million on unusable bespoke stage pylons and an oversized video screen. They also accuse him of borrowing $20 million from tour promoter Live Nation for a property development project in Canada. Holmes maintains that Coldplay is refusing to honor their contract and owes him unpaid commission.
Nelly Sells Half of His Music Catalog for $50 Million
Originally Published 2 years ago — by TMZ
Rapper Nelly has secured a $50 million deal with HarbourView Equity Partners, selling 50% ownership of his music catalog, which includes his biggest hits and Grammy-winning songs like "Ride Wit Me," "Dilemma," and "Hot in Herre." The deal marks a significant financial gain for Nelly, who is also thriving in other business ventures and continuing to make music.
Beyonce's Impact on Music Tourism and Inflation in Sweden.
Originally Published 2 years ago — by Billboard
Beyoncé's Stockholm concert contributed to Sweden's inflation rate in May, causing a "Beyoncé blip" due to fans buying up hotel rooms and spending money in restaurants. The combination of relatively cheap tickets and a strong U.S. dollar made Sweden an attractive alternative for Beyoncé fans priced out of concerts closer to home. This presents an opportunity for music tourism, as medical tourism is a long-standing tradition. Live music companies are already looking to capture a share of music fans' travel budgets, with promoters increasingly interested in grabbing a share of the hotel and hospitality spending when fans travel for concerts and festivals.
HYBE's Chairman Talks K-pop's Future, BTS, AI and More
Originally Published 2 years ago — by Billboard
Bang Si-hyuk, the founding chairman of HYBE, discusses the future of K-pop, his vision for global expansion, and the recent acquisition of Quality Control. Despite declining K-pop exports, Bang remains optimistic and plans to strengthen K-pop's future by acquiring foreign companies, consistently producing superstars, and expanding platforms to monetize fan-artist interaction. HYBE is also looking to acquire top labels in each genre, prioritize attractive intellectual property in the gaming business, and acquire hidden champions in technology for metaverse and platform businesses. Bang believes that HYBE can repeat its remarkable results with the help of talented artists and accumulated expertise in managing and producing acts that consist of multiple members.
Metallica's Bold Move: Buys Vinyl Plant Amidst Format Resurgence
Originally Published 2 years ago — by The A.V. Club
Metallica has purchased Virginia-based plant Furnace Record Pressing, which has worked to keep the band within the top 10 best-selling acts on vinyl for a decade. The band remains committed to providing high-quality products to their fans and their partnership with Furnace benefits the industry as a whole. Metallica pressed almost 100 thousand pieces of vinyl for over 620 thousand packages last year, roughly half of which were sold in the U.S.