Welcome to Music Business Worldwide’s weekly roundup – where we make sure you’ve caught the five biggest stories that made the headlines in the past seven days. MBW’s roundup is supported by Centtrip, which helps over 500 of the world’s top-selling artists maximize revenue and reduce touring costs.
There is less than a month left in 2021 and the rights acquisition market shows no signs of slowing down.
On Tuesday, November 30, just weeks after snagging a bundle of rights from Tina Turner, BMG revealed that it had acquired the entire catalog of recordings from MÃ¶tley CrÃ¼e, as part of a deal according to our sources. worth about $ 90 million.
This week also saw buyer Primary Wave Music close a multi-million dollar deal for a stake in the revenue stream from publishing, main recording, and R&B legend Teddy’s name and likeness. Pendergrass.
Paris-headquartered music company Believe itself announced a few big deals this week, acquiring stakes in not one, but two companies.
Announced Monday, November 29, the first involved a 76% stake in South India-based Think Music for 13 million euros (about 14.6 million dollars at current exchange rates).
Yesterday (December 2), Believe revealed that it also bought a 15% stake in Philippines-based Viva Music and Artists Group (VMAG), one of Southeast Asia’s biggest labels, for $ 23million. ‘euros ($ 26 million).
Meanwhile in the UK a bill that would have affected record company profits in the market was rejected today (December 3) by the UK government.
Moved by Labor MP Kevin Brennan, the main suggestion of the ‘Brennan Bill’ was the introduction of ‘fair pay’ into UK law, which would have seen a proportion of artists’ streaming income paid directly to performers. or performers.
Elsewhere this week, Chinese tech giant NetEase’s music streaming service is officially listed on the Hong Kong Stock Exchange, and Bad Bunny was named the world’s most-streamed artist on Spotify for the second year in a row.
Here’s what happened this week …
1) BMG PURCHASES MÃTLEY CRÃE RECORDINGS CATALOG FOR APPROXIMATELY $ 90 MILLION
BMG is raising the temperature in the already fierce market for catalog acquisitions.
After acquiring a series of rights from Tina Turner last month, the company announced on Tuesday (November 30th) that it had acquired the entire catalog of recordings from MÃ¶tley CrÃ¼e.
BMG did not set a price on the latest deal, but the Bertelsmann-owned company says the MÃ¶tley CrÃ¼e takeover is its “largest single catalog acquisition” since its inception in 2008.
2) BELIEVE ACQUIRES A 15% STAKE IN THE VIVA MUSIC ET ARTISTES DES PHILIPPINES GROUP FOR $ 26M
Paris-based music company Believe has acquired a stake in Philippines-based Viva Music and Artists Group (VMAG), one of Southeast Asia’s largest labels.
Believe purchases 15% of the total share capital of the company for 23 million euros (approximately $ 26 million at current exchange rates).
The news follows Believe’s acquisition this week of a 76% stake in South India-based Think Music for 13 million euros (about $ 14.6 million at current exchange rates).
3) A BILL THAT REACHED RECORD CORPORATE PROFITS IN THE UNITED KINGDOM REJECTED BY THE BRITISH PARLIAMENT
He proposed a set of laws that could have taken substantial amounts of annual revenue away from UK record companies each year – but today (December 3) the so-called ‘Brennan Bill’ has not passed. in a chamber of the British Parliament.
The bill contained a number of proposals that would have essentially benefited artists and performers financially to the detriment of the record companies with which these artists had signed contracts.
Moved by Labor MP Kevin Brennan, the main suggestion of the ‘Brennan Bill’ was the introduction of ‘fair pay’ into UK law.
4) NETEASE MUSIC SERVICE LISTS ON THE HONG KONG STOCK EXCHANGE
Cloud Village, a subsidiary of Chinese tech giant NetEase, which operates music streaming service NetEase Cloud Music, was officially listed on the Hong Kong Stock Exchange yesterday (December 2).
Cloud Village raised HK $ 3.28 billion (around US $ 421 million at current exchange rates) on its IPO, with its share price pegged at HK $ 205 (around 26, US $ 3 million), which was the midpoint of the indicative offering price range set in the company’s pre-IPO prospectus.
Shares of Cloud Village fell 2.5% to close at HK $ 199.90 (US $ 25.6) at the end of the company’s first trading day on Thursday.
5) BAD BUNNY IS THE WORLD’S MOST DIFFERED ARTIST ON SPOTIFY IN 2021â¦ AND HE HASN’T EVEN RELEASED A NEW ALBUM
Puerto Rican Reggaeton star Bad Bunny has been named World’s Most Listened Artist on Spotify for the second year in a row.
That’s according to Spotify’s annual Wrapped campaign, which, released on Wednesday, December 1, highlights the platform’s top artists, songs and albums around the world.
Bad Bunny has received over 9.1 billion streams so far in 2021, hitting that tally without even releasing an album this year.
MBW’s Weekly Round-Up is supported by Centtrip, which helps more than 500 of the world’s top-selling artists maximize their income and lower their touring costs.
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