welcome to global music business‘s weekly roundup – we be sure you catch the 5 largest tales that made our headlines over the previous seven days. MBW’s evaluate is supported by China Travel Serviceserving to greater than 500 of the world’s best-selling artists maximize their earnings and scale back touring prices.
The information this week is dominated by the closure of two unbiased music platforms. The primary one is Tik Tokof subscription music streaming apps, tiktok musicthe social media service revealed that it’ll shut down on the finish of November.
The second is Warner Music GroupEnter the sphere of DIY distribution. MBW It was confirmed this week that WMG could be shutting down Stage musicit’s Tuning Rivals, the platform has stopped accepting new submissions subsequent yr.
Elsewhere within the music business, main gamers are planning for the longer term by way of restructuring and mergers and acquisitions. Living proof: WMG unveiled its new management crew and company construction this week atlantic music group Beneath the management of incoming C.E.O. Elliot Grange.
Vital modifications have additionally occurred universal music groupand declare Deacon Steiner Will function Chairman and Chief Govt Officer Universal Music UKfollowing information earlier this week david joseph Will depart the corporate.
On the similar time, UMG additionally accomplished a go to to Thailand RS Group for US$65-70 millionsuggesting that extra M&A transactions are underway on the horizon.
Tik TokThis week’s announcement that it was discontinuing its premium music streaming app despatched shockwaves by way of the music business.
as first reported undergo MBW, tiktok music It’s going to shut on the finish of November in Indonesia, Brazil, Australia, Singapore and Mexico (the 5 markets the place the app is offered).
TikTok mentioned the technique behind the choice was to focus its sources on “Add to music app” function that permits TikTok customers to save lots of songs they uncover on the platform to the streaming service’s playlist, e.g. Spotify, Amazon Musicand apple music.
Spotify, particularly, is predicted to learn from TikTok Music’s exit. That is in response to a brand new analysis report Deutsche Financial institutioncalling TikTok Music’s closure “a transparent constructive for Spotify”…
tiktok music It isn’t the one music business platform to announce closures this week.
MBW Confirmed Warner Music Group Closing Stage musicits digital distribution platform for self-publishing artists.
horizontal music, a Tuning A competitor launched by WMG in 2018, it gives distribution to main streaming providers similar to Spotify and apple music and social media platforms similar to Tik Tok and Instagram.
In an e mail despatched to Stage Music customers on Thursday (September 26), MBWthe platform confirmed that “it has made the troublesome determination to shut Stage in 2025.” The e-mail states that Stage will now not settle for new content material submissions for distribution or edits to present variations, efficient at this time…
Warner Music Group Already revealed atlantic music group (AMG) New management crew and broader company construction beneath incoming AMG CEO Elliot Grange.
Grainge takes over as chief government following his departure on October 1 Julie Greenwald (Atlantic Music Group Chairman) later this month.
Warner mentioned in a press launch on Monday (September 23) that Atlantic Music Group will “mix the strengths of key features of AMG Information” atlantic records, 300and Elektracreating “a central suite of artist improvement providers”.
These features on the group degree embrace artistic, authorized and business affairs, promotions, press and media technique, digital advertising and marketing and analytics, gross sales and streaming, A&R analysis, A&R administration and advertising and marketing operations…
common music group Chairman and Chief Govt Officer Sir Lucian Grange introduced this week Deacon Steiner Appointed Chairman and Chief Govt Officer Common Music UK. Steiner succeeded david josephHis resignation was confirmed on Monday (September 23).
In his new function, Steiner is accountable for the general administration and strategic course of Common Music UK.
Departments embrace island EMI Label Group, Polydor Label Group, deka recordsnot too long ago established Viewers and Media Divisionadditionally Abbey Street Studioswill report back to him.
For the previous 10 years, Steiner served as president and CEO of Common Music Group (UMG) World Classics and Jazz division, splitting his time between London and New York…
final yr, common music group Obtained 70% A stake within the catalog of recorded music by a Thai document firm RS Group About $45 million (Plus a possible bonus of about $5 million). then, MBW Inform you “Common Music Group is predicted to hold out extra M&A actions in Asia.”
Properly, that is not the boldest prediction we have made. However, properly, we’re not mistaken.
UMG has now confirmed that it not too long ago accomplished the remaining acquisitions 30% RS Group’s catalog, totally owned recording portfolio.
In different phrases, UMG has simply accomplished the acquisition of Thailand’s second largest document catalog for a complete sum of approx. US$65-70 million.
Attention-grabbing. However the larger story is what occurs subsequent…
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