Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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.
Dwell Nation‘s acquisition of LA-based expertise administration agency Timeline has highlighted the truth that the live performance and ticketing big can also be a significant participant in expertise administration. And Timeline’s involvement with on-line influencers probably opens a brand new avenue for Dwell Nation to advertise its exhibits and artist administration shoppers…
On the opposite aspect of the Pacific, HYBE-owned label ADOR filed a lawsuit in opposition to Ok-pop group NewJeans. The lawsuit adopted the group’s announcement every week earlier that it plans to go away ADOR. The label argues that NewJeans don’t have the flexibility to cancel their contract unilaterally.
Elsewhere, Craig Peters, the CEO of Getty Photographs, penned an op-ed for Fortune this week criticizing AI builders’ copyright thievery.
Additionally this week, TikTok revealed its lists of the largest musical tracks and artists on the platform this yr. The corporate stated that 13 of the 16 tracks that hit No. 1 on the US Billboard Sizzling 100 have been linked to traits on TikTok.
Lastly, MBW regarded again at this yr’s largest music offers. The yr was dominated by non-public fairness investments and huge issuances of securities backed by music property. On the catalog acquisition aspect, Sony Music dominated with various blockbuster offers.
Dwell Nation is a dwell music promotion and ticketing big, however it additionally runs a powerhouse expertise administration enterprise.
Certainly, the Michael Rapino-led firm claimed in its 2023 annual report back to be “one of many world’s main artist administration firms based mostly on the variety of artists represented.”
On Tuesday (December 3), Dwell Nation revealed the most recent addition to its expertise administration operation: It’s acquired a majority stake in Timeline – described by LN as certainly one of Los Angeles’ “premier expertise administration companies.”
Timeline focuses on “younger Hollywood and influencer expertise.” The acquisition of a majority stake in Timeline is a major improvement for Dwell Nation, given the rise and energy of influencer advertising on social media platforms…
ADOR, a subsidiary of Ok-pop powerhouse HYBE, has filed a lawsuit to stop woman group NewJeans from terminating their unique contract, escalating a high-stakes dispute within the South Korean music business.
The lawsuit, filed Tuesday (December 3) with the Seoul Central District Courtroom, challenges the group’s current try to go away the label, with ADOR asserting that the prevailing contract stays legally binding and can’t be unilaterally terminated.
“Though we didn’t want to search authorized intervention with the artist, we determined that it was essential to make clear to each the artist and all related stakeholders that our unique contract can’t be unilaterally terminated based mostly solely on the claims of 1 aspect,” ADOR stated in an announcement despatched to MBW.
The lawsuit follows a press convention held by NewJeans on November 28, the place the group publicly introduced their intention to exit ADOR. Group member Hanni claimed the label “has neither the flexibility nor the desire to guard” the members, citing psychological misery and a “breach of belief…”
TikTok has lengthy promoted itself as a significant driver of music discovery, and its 12 months-Finish Music Report for 2024 reiterates this theme.
Based on TikTok, 13 of the 16 tracks that reached No.1 on the US Billboard Sizzling 100 have been indirectly linked to a development on the platform.
Moreover, 10 of the 11 tracks to hit No.1 on the UK’s Official Singles Chart have been boosted by TikTok reputation, the report instructed.
“In 2024 TikTok actually turned the music business’s major launchpad for music, artists and creativity,” Ole Obermann, TikTok’s International Head of Music Improvement, stated in an announcement…
In a scathing op-ed revealed by Fortune this week, the CEO of pictures company Getty Photographs, Craig Peters, criticized the argument that utilizing copyrighted content material accessible on the web to coach AI with out permission is ‘honest use’ underneath copyright legislation.
He advocates as an alternative for a nuanced method to assessing honest use, supporting AI’s potential for societal good with out undermining the inventive industries – together with music.
Peters’ piece concludes with the argument that there “is a good path that rewards creativity and delivers the guarantees of AI”.
He provides: “Let’s cease the rhetoric that every one un-permissioned AI coaching is authorized and that any requirement to respect the rights of creators is on the expense of AI as a expertise…”
As the worth of music firms and copyrights continues to develop, so do the offers being made within the business – and the involvement in non-public fairness in these transactions.
In financial phrases, the largest deal of 2024 (to this point, anyway) got here courtesy of PE agency Hellman & Friedman, which struck a ten-figure settlement to accumulate a stake in Irving Azoff’s US-based PRO International Rights Administration (GRM).
One other facet of the music business that’s grown quickly in 2024 is the securitization of music property. This yr noticed various main asset-backed securitizations from music copyright holders, together with Hipgnosis Songs Fund, Harmony, and Kobalt.
On the catalog offers aspect, Sony Music dominated 2024, shopping for all or components of the catalogs of Queen, Pink Floyd, and Michael Jackson…
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
