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.
This week, Universal Music Group parent Vivendi confirmed it is examining a proposal to spin 60% of the music company out from the French company’s corporate ownership, and for UMG to start trading on the Euronext Amsterdam stock exchange by the end of 2021.
Meanwhile, Irving Azoff‘s Iconic Artists Group has acquired a controlling stake in The Beach Boys’ intellectual property in what looks likely to be a $100m-plus deal.
Elsewhere, UMG and Korea’s Big Hit Entertainment announced details of a “history making project” that will see the two companies jointly assemble and debut a new K-pop boy band.
Also, Warner Music Group (WMG) has made an investment in Saudi Arabia’s Rotana Group-owned Rotana Music – claimed to be the largest record label in the Middle East – in a deal believed to be an eight-figure acquisition for a minority stake.
And, a total of 20 DSPs, including Spotify, Apple and Amazon have transferred a combined $424.38 million in accrued historical unmatched royalties to The Mechanical Licensing Collective (MLC).
Looks like Universal Music Group is going public this year – in Amsterdam.
UMG parent Vivendi has confirmed it is examining a proposal to spin 60% of the music company out from the French company’s corporate ownership, and for UMG to start trading on the Euronext Amsterdam stock exchange by the end of 2021.
Arnaud de Puyfontaine and Yannick Bolloré (Vivendi’s CEO and the Chairman of its Supervisory Board, respectively), informed their colleagues of the news on Saturday morning (February 13).
A new Vivendi investor release reveals further details, noting that following the recent sale of UMG equity to a Tencent-led consortium for a €30 billion enterprise value, Vivendi has seen “interests expressed by other investors at potentially higher prices” for stakes in Universal.
Vivendi confirms that its management board is now considering “a distribution of 60% of UMG’s share capital to Vivendi shareholders” via a “special dividend”…
Irving Azoff’s Iconic Artists Group has acquired a controlling stake in The Beach Boys’ intellectual property, including the band’s sound recordings, brand, select musical compositions, and memorabilia.
According to a press release, The Beach Boys and their heirs will retain an interest in their assets “to participate in the upside Iconic expects to create by actively marketing and promoting” the band.
However, much of the band’s evergreen 1960s-era catalog remains owned by Universal Music Group, which acquired Beach Boys recordings via the $1.9bn buyout of EMI Music in 2012.
Universal’s Bruce Resnikoff told Rolling Stone: “We have the original recordings, and we have the publishing, but our ability to do the most with this band relies on the ability to work with the band. Iconic will represent the band in a way that will only enhance, I think, the value for everybody…
Universal Music Group and Korea’s Big Hit Entertainment have announced details of a “history making project” that will see the two companies jointly assemble and debut a new K-pop boy band.
The as-yet-undiscovered group’s music will be released under a new Los Angeles-based joint venture record label created by Big Hit in partnership with UMG and the latter company’s Geffen Records.
UMG boss Sir Lucian Grainge says the project will “further accelerate K-pop as a global cultural phenomenon”.
Members of the K-pop group will be selected through a global audition program which, according to Universal and Big Hit, is on track to begin in 2022 and will be launched in conjunction with a major US media partner…
Warner Music Group (WMG) has made an investment in Saudi Arabia’s Rotana Group-owned Rotana Music, which is claimed to be the largest record label in the Middle East.
The deal – believed to be an eight-figure acquisition for a minority stake – will expand WMG’s presence in the Middle East and North African (MENA) region.
Last month, citing people familiar with the matter, the Wall Street Journal reported that WMG was close to sealing a deal for a minority stake in Rotana Music that would value the Saudi company “at close to $200 million”…
A total of 20 DSPs have transferred a combined $424.38 million in accrued historical unmatched royalties to The Mechanical Licensing Collective (MLC) as required in order for them to seek the Music Modernization Act’s (MMA) limitation on liability for past infringement.
Those DSPs, including Spotify, Apple Music, Amazon, SoundCloud and others, also delivered more than 1,800 data files, which contain in excess of 1.3 terabytes and nine billion lines of data.
Of that $424.38m, $163.3m was received from Apple, $152.2m from Spotify, while Amazon and Google transferred $42.7m and $32.8m, respectively…
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.Music Business Worldwide
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