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For the first time ever, YouTube’s subscription and advertising revenues have surpassed $50 billion over four quarters. Sundar Pichai, CEO of YouTube parent companies Alphabet and Google, revealed the number on the company’s Q3 2024 earnings call on Tuesday (October 29). “Together, YouTube TV, NFL Sunday Ticket, and YouTube Music Premium are driving subscription growth […]
Sony Music Publishing has signed a deal with producer Mike Dean and several members of his producer collective M.W.A., including Sean Solymar, Tommy Rush and Sage Skolfield. The company has also launched a strategic partnership with M.W.A. to foster the creative development of its new talent. Grammy-Award winner Mike Dean is known for his work […]
Warner Chappell Music Korea has appointed Sophia Hong as Managing Director, effective immediately. She will be based in Seoul and will report to Arica Ng, President of Warner Chappell Music APAC. In this role, Hong will oversee the company’s music publishing business in South Korea, concentrating on “enhancing” its market presence and driving overall business […]
Duetti, a music investment company focused on indie music rights, has announced it has secured $114 million in new funding for the further acquisition of music catalogs. That includes $34 million in new equity financing, led by PE firm Flexpoint Ford, with participation from existing investors Nyca Partners and Viola Ventures. It also includes $80 […]
In July, investment giant Blackstone acquired Hipgnosis Songs Fund‘s assets from HSF’s then-public shareholders in a transaction worth USD $1.584 billion. According to MBW’s analysis, that transaction – when you factor in HSF’s debt – gave HSF’s portfolio of 45,000 songs an approximate enterprise value of USD $2.20 billion. That same portfolio (originally accumulated between 2018 and […]
Concord has successfully closed its latest Asset-Backed Securities (ABS) transaction, which sees the company raise $850 million in debt financing through a private securitization backed by its catalog of music rights. The company said on Monday (October 28) that the transaction would “fuel strategic growth and acquisition[s]” and that it underscores its “ongoing effort to strategically […]
This is becoming a running story. MBW reported yesterday (October 24) that UnitedMasters, one of the largest distribution and services platforms for indie artists, had signed a new direct licensing deal with TikTok. That deal, say sources, will supersede UM’s previous TikTok licensing agreement, which went through Merlin. Now another major global indie distribution platform […]
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 maximize their income and reduce their touring costs. One unexpected news item this week was the announcement […]
Primary Wave Music has revealed its latest acquisition. The company announced on Friday (October 25) that it has struck a deal with the estate of the legendary country and folk singer-songwriter, Jerry Jeff Walker. According to a press release, terms of the deal will see the publishing company partner with the estate on Walker’s music […]
Over the summer, Universal Music Group struck a strategic partnership with AI tech company SoundLabs focused on ‘ethically’ trained tools for music creators. The plan was for SoundLab, founded by Grammy-nominated producer, composer, software developer, and electronic artist BT, to equip UMG’s artists and producers with AI technology through its ‘MicDrop’ AI vocal plug-in. The first AI-driven release […]