Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure 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 revenue and scale back their touring prices.
This week, Common Music UK introduced that it’s altering its firm construction from October 1. It will embody the merger of two famend London-based frontline labels: Island Data UK and EMI.
In the meantime, on the opposite aspect of the pond, songwriter teams hailed the US Copyright Workplace‘s ruling that songwriters are entitled to gather mechanical royalties from streaming platforms like Spotify after their termination rights have been invoked, that’s, after they reclaim their rights from one other occasion, normally a writer.
We additionally acquired phrase this week that longtime HYBE exec Lenzo Yoon might be leaving the corporate on the finish of this yr. Yoon most not too long ago held the title of Co-CEO of HYBE America, a job he shared with Scooter Braun.
Again in Europe, France-headquartered Imagine introduced it had taken a 25% stake in Romania-born World Data, which describes itself as the most important indie music firm in Central and Japanese Europe.
Talking of investments: Having received its bidding warfare in opposition to Harmony, Blackstone cleared the final hurdle this week in its acquisition of Hipgnosis Songs Fund, as HSF shareholders authorised its takeover bid with 99.97% of voting shares saying sure to the deal.
Common Music UK is altering its firm construction from October 1. It will embody the merger of two famend London-based frontline labels: Island Data UK and EMI.
Louis Bloom would be the president of the newly-named Island EMI Label Group; Bloom will transfer into the position from his present place as President of Island Data UK.
The Island EMI Label Group will kind considered one of two “powerhouse frontline label teams”, Common Music UK’s Chairman/CEO, David Joseph, introduced in an inside memo on July 9.
The opposite might be Polydor Label Group, led by Ben Mortimer as President…
A lot of organizations representing artists and songwriters in the USA have applauded the US Copyright Workplace’s ruling reaffirming termination rights underneath the Music Modernization Act (MMA).
The rule clarifies that songwriters are entitled to gather mechanical royalties generated from streaming platforms like Spotify, Apple, and Amazon after their termination rights have been invoked (i.e., after they reclaim their rights from one other occasion, on this case, a music writer).
Within the US, songwriters have the precise ‘to terminate the unique or nonexclusive grant of a switch or license’ after 35 years for works written after 1978 (or 56 years for works written/copyrights granted previous to 1978).
The ruling, which was printed on July 9, confirms that the so-called “by-product works exception” doesn’t apply to the blanket license underneath Part 115 of the Copyright Act…
Lenzo Yoon is leaving South Korea-headquartered leisure big HYBE on the finish of 2024.
That’s in line with a report printed in South Korea’s Maeil Kyungjae enterprise paper, which studies that the exec’s contract comprises a non-compete clause that expires on the finish of 2024. The report provides that Yoon will go away the corporate ‘instantly thereafter’.
The exec most not too long ago held the title of Co-CEO of HYBE America, a job he shared with Scooter Braun till January 2023, when the latter exec turned sole CEO of HYBE America.
Lenzo Yoon has been a key exec at HYBE since he joined the corporate in 2010 as Head of Strategic Planning, and when it was often known as Huge Hit Leisure…
Imagine has signed a strategic partnership with Romania-born World Data, which is claimed to be the most important impartial music firm in Central and Japanese Europe.
As a part of the deal, Imagine has acquired a 25% stake in Bucharest-headquartered World Data, which has workplaces in Romania, Germany and the US.
Imagine stated on Monday (July 8) that this strategic partnership “falls in line” with its “blueprint technique to give attention to music genres the place artist growth and music consumption are digital”…
It’s official: Blackstone is about to develop into the brand new proprietor of Hipgnosis Songs Fund.
Blackstone’s USD $1.584 billion bid for the UK-listed music firm received overwhelming approval amongst HSF shareholders who voted at a Court docket Assembly and Common Assembly on July 8.
The method noticed 99.97% of the Scheme Shares voted by HSF shareholders approve the Blackstone deal.
Blackstone wanted at the very least 75% of voting shares to get the deal over the road…
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
