Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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 earnings and cut back their touring prices.
Final week, TikTok made headlines for shutting down its subscription music streaming service.
This week, the ByteDance-owned app made headlines for shutting down its re-licensing negotiations with indie rep Merlin.
In different massive information this week, Pink Floyd agreed to promote their recorded music catalog to Sony Music in an settlement value roughly USD $400 million, in line with sources.
In the meantime, in Los Angeles, expertise big Artistic Artists Company (CAA) filed a lawsuit in opposition to administration agency Vary Media Companions, accusing the corporate of “stealing” confidential information and of being “an unlicensed expertise company”.
Elsewhere this week, we reported that Sony Music GSA has undergone a serious restructuring below new CEO Christoph Behm, whereas Spotify began notifying subscribers in Canada that its costs are going up available in the market.
It’s true: MBW has confirmed that TikTok not too long ago scrapped re-licensing discussions with Merlin, regardless of the indie group’s present take care of the ByteDance platform expiring on October 31.
As a substitute of agreeing a blanket take care of Merlin, TikTok is as an alternative inviting particular person Merlin members to barter direct licensing offers with its workforce.
Merlin claims that its members symbolize 15% of worldwide recorded music consumption by market share. So why would TikTok stroll away from the negotiating desk?
The reason being one thing of a shock: as trade dialogue over streaming fraud grows ever-louder, TikTok has referred to as into query the legitimacy of music delivered to its platform by sure Merlin members.
The deal is finished: Pink Floyd has this week agreed to promote their recorded music catalog to Sony Music in an settlement value roughly USD $400 million, in line with sources.
The transaction is known to incorporate Floyd’s recordings catalog, plus neighboring rights, plus ‘identify and likeness’ rights. It doesn’t embody publishing rights.
The information was first reported on Tuesday (October 1) by the Monetary Occasions…
Photograph Credit score: Daniel J. Macy/Shutterstock
A blockbuster authorized dispute is brewing in Hollywood.
Expertise big CAA (Artistic Artists Company) has filed a lawsuit in opposition to administration agency Vary Media Companions this week, accusing it of “stealing confidential data” forward of the latter firm’s launch in 2020.
The lawsuit, filed in Los Angeles’ Superior Court docket on Monday (September 30), additionally claims that Vary is “an unlicensed expertise company constructed on deceit…”
Sony Music GSA not too long ago skilled a management shakeup, with the corporate’s now-former boss Patrick Mushatsi-Kareba leaving the enterprise and changed by Christoph Behm.
Now, only a month into the brand new function, Behm has made sweeping modifications on the enterprise, which is able to see Sony Music’s GSA labels sit inside three new “overarching frontline label teams”, together with the Ariola Label Group, the Columbia Label Group, and the RCA Label Group.
Moreover, Sony Music GSA will now be overseen by a newly structured GSA administration workforce…
Spotify has notified clients in Canada that it will likely be growing its subscription costs available in the market.
The information arrives amid a debate available in the market over a proposed tax on non-Canadian streaming firms’ home revenues.
In June, Canada’s telecom regulator, the CRTC, introduced that beginning this fall, non-Canadian streaming companies can be required to pay a 5% tax on their Canadian revenues, which can be put into numerous completely different funds that assist Canadian music creators and broadcasters…
