Welcome to Music Business World’s weekly roundup – where we make sure you catch the 5 biggest stories that have made our headlines over the past seven days. MBW’s review is supported by China Travel Servicehelping more than 500 of the world’s best-selling artists maximize their income and reduce touring costs.
Major record companies—— sony, commonand Warner – is taking on U.S. telecom giants Verizon Suspected of condoning widespread music piracy on its network. Given the scale of the alleged illegal file sharing, the company could face up to $2.6 billion In damages.
This week saw a slew of new and ongoing acquisitions, the most significant of which may be Warner Music Brazil hold a minority stake your music groupwhich claims to have Brazil’s largest entertainment platform focused on regional music.
Meanwhile, Los Angeles Clover Capital A series of music copyrights have been obtained Vine Alternative Investment Group. The transaction includes 450 songs, 550 features movies and 2,000 hours of TV time From the vine.
at the same time, sonyAcquisition of legendary rock band’s recording and publishing catalog Queen Getting closer to their official launch, UK regulatory filings reveal surviving members of the band are cease to be a director of Queen Productions Ltd..
Finally, dramatic news from South Korea, prosecutors have filed an arrest request Kim Bum-soobillionaire founder kaco co., ltd.accusing Kim of participating in a conspiracy to inflate stock prices SM Entertainmentin order to promote move Ending last year’s bidding war among K-pop agencies.
Here’s what happened this week…
Image source: Billion Photos/Shutterstock
1) Record labels have sent “hundreds of thousands” of copyright infringement notices to VERIZON. Now they’re suing Internet providers for more than $2 billion
Record labels sue U.S. Internet service providers Verizon For the so-called “Large-scale copyright infringement The promise of tens of thousands of subscribers”.
Parties named as plaintiffs in the lawsuit include the three major record companies; sony music, universal music groupand Warner Music Groupplus ABKCOMusic. The lawsuit was filed in New York on Friday (July 12).
Verizon is one of the largest Internet service providers in the United States. company generation $134 billion In 2023, as of March 31, statistics 114.8 million subscriber.
Record labels are suing Verizon for copyright infringement…
Image source: lev radin/Shutterstock
2) Sony Music is taking over QUEEN’s UK company
sony musiclandmarks Queen Catalog acquisition is getting closer and closer to “official”.
According to reports over the past few weeks, Sony Music Group has agreed to acquire the legendary rock band’s recordings, in a deal said to be worth approx. £1bn (US$1.27 billion at current exchange rates).
exist £1 billion price tag, the deal will be The largest artist catalog deal in music history.
Sony Music has yet to confirm these reports, but we can now show you the clearest evidence yet that Sony Music is taking control of Queen’s assets.
According to documents released publicly by Companies House and compiled by MBWQueen’s surviving “classic” band members Brian May, Roger Taylorand John Deacon yes cease to be a director of Queen Productions Ltd.…
3) Warner acquires a minority stake in Brazilian UGC music platform and publisher SUA MÚSICA
Warner Music Brazil has invested in your music groupwhich claims to have Brazil’s largest entertainment platform focused on regional music.
According to a press release, Warner Music will collaborate with Sua Musica and “combine [e] Their efforts to develop regional artists and songwriters.
The value of the investment has not been disclosed, but MBW It is understood that Warner Music has Acquiring a minority stake in the company.
Sua Música reportedly to raise funds in 2021 50 million reais (about $9 million)in a 200 million reais ($36 million) Valuation to expand company size…
Photo credit: Fred Duvall/Shutterstock
4) Shamrock purchases rights portfolio from VINE Alternative Investments – including over 150 CALVIN HARRIS songs
Los Angeles-based investment firm Clover Capital Acquired a range of film, television and music rights Vine Alternative Investment Group.
long time MBW Readers will remember Vine as the company that has sourced more than 150 songs from Grammy-winning, multi-platinum selling producers, songwriters and DJs Calvin Harris 2020. MBW Sources say Vine paid in: $105 million Harris’ song mix.
Overall, the combination of rights Shamrock acquired from Vine, including the Calvin Harris catalog, gives Shamrock more than 550 feature filmsExceed 2,000 hours TV programs and above 450 songs…
Image source: Monticello/Shutterstock
5) KAKAO billionaire founder arrested for allegedly manipulating SM Entertainment stock price
Last year’s fierce and high-profile battle between K-pop giants move and Korea Telecom kaco co., ltd. Over control SM Entertainment It led to consequences that few could have foreseen at the time.
In the latest chapter in the saga, the Seoul Southern District Prosecutor’s Office filed a request for an arrest warrant on Wednesday. Kim Bum-sooThe billionaire founder of Kakao Corp., whose entertainment arm now controls SM Entertainment.
Prosecutors say Kim Jong Un violated South Korean law Financial Investment Services and Capital Markets Law through the conspiracy in which he was allegedly involved Illegal stock price manipulation SM Entertainment, in order to exclude HYBE from the K-pop agency bidding…
MBW’s weekly roundup is powered by Centtrip, a company that helps more than 500 of the world’s best-selling artists maximize their earnings and reduce touring costs.global music business
