Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.
It’s been a minute since a major deal took place in the global merchandise business, but that all changed this week.
On Wednesday (January 19), Sony Music Entertainment announced that it hqw made a “strategic investment” in Ceremony Of Roses, and is consequently re-organizing its entire global merchandise operation under the Ceremony Of Roses brand.
Founded in 2016, Ceremony of Roses already works with superstars including Adele (who sadly postponed her Vegas residency this week), plus Olivia Rodrigo, A$AP Rocky, and more.
That wasn’t the only big news to arrive from Sony Music Group this week. We also learned that the major has snapped up a remaining stake in famed dance label, Ultra Records.
The move means that Sony Music now fully owns Ultra Records, following its earlier acquisition of a stake in the label in 2013.
Elsewhere this week, Hipgnosis Song Management acquired 80% of Kenny Chesney’s recorded music royalties, covering the country superstar’s discography from his 1994 debut In My Wildest Dreams through 2017’s Live in No Shoes Nation.
The acquisition is the first to come from Hipgnosis’s mega-money partnership deal with investment titan Blackstone, which saw the latter firm commit to pouring a billion dollars (and likely more) into music rights acquisitions.
Also this week, New York-headquartered Massarsky Consulting, one of the biggest names in the world of music asset valuations, was acquired by professional services firm Citrin Cooperman, while Swiss music company Utopia snapped up UK-based distributor Proper Music Group.
Remember when the major music companies were on an acquisition spree in the world of merchandise?
The Covid pandemic – and the consequent global cessation of touring – largely put a stop to that over the past two years.
Now, though, these wheels are very much in motion again: Today (January 19), Sony Music Entertainment has confirmed that it’s made a strategic investment in Ceremony of Roses (CoR), a “boutique” merchandising company founded by music and fashion entrepreneur Brad Scoffern.
Three months ago, MBW revealed that Merck Mercuriadis‘s Hipgnosis had struck a mega-money partnership deal with investment titan Blackstone.
That deal saw Blackstone commit to pumping a billion dollars (and likely more) into music rights acquisitions struck by Mercuriadis’ own investment management firm, Hipgnosis Song Management.
Today (January 19), the first of those acquisitions has been confirmed: Hipgnosis Song Management has acquired 80% of Kenny Chesney’s recorded music royalties, covering his discography from his 1994 debut In My Wildest Dreams through 2017’s Live in No Shoes Nation…
In addition, Massarsky has become well known in industry circles as the ongoing valuer of Hipgnosis Songs Fund‘s NAV [net asset value].
Now – just when the music rights M&A market couldn’t get any hotter – Massarsky has been acquired by professional services firm Citrin Cooperman for an undisclosed fee….
Switzerland-headquartered fintech company Utopia Music is expanding into physical and digital music distribution.
The fast-growing firm has acquired UK-based distributor Proper Music Group.
Proper says that it handles over 1 million titles at any one time and provides distribution services for over 1,000 independent labels and service companies…
