Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make sure that you caught the 5 greatest 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 revenue and scale back their touring prices.
The main document firms – Sony, Common, and Warner – are taking on US telecom big Verizon over its alleged enabling of widespread music piracy on its networks. Given the dimensions of the alleged illicit file-sharing, the corporate may very well be on the hook for as much as $2.6 billion in damages.
This week noticed a slew of recent and ongoing acquisitions, probably the most vital of which can be Warner Music Brazil taking a minority stake in Sua Música Group, which claims to personal the most important leisure platform targeted on regional music in Brazil.
In the meantime, L.A.-based Shamrock Capital has acquired a portfolio of music rights from Vine Various Investments Group. The deal consists of 450 songs, 550 function movies and 2,000 hours of TV from Vine.
In the meantime, Sony‘s acquisition of the recording and publishing catalog of legendary rock band Queen is getting ever nearer to turning into official, with regulatory filings within the UK exhibiting the band’s surviving members are not administrators of Queen Productions Restricted.
Lastly, dramatic information out of South Korea, the place prosecutors have filed a request for the arrest of Kim Beom-su, the billionaire founding father of Kakao Corp., alleging that Kim was a part of a plot to inflate the inventory worth of SM Leisure, in an effort to push HYBE out of a bidding battle for the Okay-pop company final 12 months.
A number of document firms have sued US-based web service supplier Verizon for alleged “huge copyright infringement dedicated by tens of 1000’s of its subscribers”.
The events named as plaintiffs within the lawsuit embody all three main document firms, Sony Music, Common Music Group, and Warner Music Group, plus ABKCO MUSIC. The lawsuit was filed on Friday (July 12) in New York.
Verizon is among the largest web service suppliers within the US. The corporate generated $134 billion in 2023, and as of March 31, counted 114.8 million subscribers.
The labels are suing Verizon for contributory and vicarious copyright infringement…
Sony Music’s landmark Queen catalog acquisition is getting nearer and nearer to turning into ‘official’.
Based on reviews over the previous few weeks, Sony Music Group has agreed to amass the catalog of the legendary rock band in a deal reportedly price roughly GBP £1 billion (USD $1.27 billion at present alternate charges).
On the £1 billion price ticket, the transaction will grow to be the greatest artist catalog deal in music historical past.
Sony Music hasn’t confirmed the reviews, however we will now present you the clearest proof but that Sony Music is within the strategy of taking management of Queen’s belongings.
Based on filings publicly out there on the UK’s Corporations Home, and reviewed by MBW, Queen’s surviving ‘Basic’ band members Brian Could, Roger Taylor, and John Deacon are not administrators of Queen Productions Restricted…
Warner Music Brazil has invested in Sua Música Group, which claims to personal the most important leisure platform targeted on regional music in Brazil.
Based on a press launch, this funding will see Warner Music accomplice with Sua Música and “mix [e] their efforts to develop regional artists and songwriters.”
The worth of the funding has not been disclosed, however MBW understands that Warner Music has acquired a minority stake within the firm.
In 2021, Sua Música was reported to be elevating R$50 million (approx USD $9m) at a R$200 million ($36m) valuation in an effort to scale the corporate…
Los Angeles-based funding agency Shamrock Capital has acquired a portfolio of movie, tv, and music rights from Vine Various Investments Group.
Lengthy-time MBW readers will bear in mind Vine as the corporate that acquired a catalog of greater than 150 songs from Grammy award-winning and multi-platinum-selling producer, songwriter, and DJ Calvin Harris in 2020. MBW sources have instructed that Vine paid within the area of $105 million for Harris’s music portfolio.
In whole, the portfolio of rights acquired by Shamrock from Vine – together with that Calvin Harris catalog – delivers Shamrock possession curiosity in additional than 550 function movies, over 2,000 hours of tv programming and over 450 songs…
Final 12 months’s bitter, high-profile battle between Okay-pop big HYBE and South Korean telecom Kakao Corp. over management of SM Leisure has led to fallout that few may have seen coming on the time.
Within the saga’s newest chapter, the Seoul Southern District Prosecutors Workplace filed a request on Wednesday for an arrest warrant for Kim Beom-su, the billionaire founding father of Kakao Corp., whose leisure division now controls SM Leisure.
Prosecutors assert that Kim violated South Korea’s Monetary Funding Providers and Capital Markets Act by means of his purported involvement in a plot to illegally manipulate the inventory worth of SM Leisure, in an effort to push HYBE out of the bidding for the Okay-pop company…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and scale back their touring prices.Music Enterprise Worldwide
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