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.
One in five paying music subscribers is willing to pay for a “super premium” subscription, according to research cited by Universal Music Group’s leadership team.
that insight into thinking Monetizing Super Fans That’s just one of the things we gleaned from the company’s latest earnings call, which generated buzz after UMG announced a new licensing deal with the company Tik Tok.
This week we also learned harmony Exiting bidding war black stone to own Hipgnosis Song Fundasset.
at the same time, Warner Music Group Fiscal second quarter (calendar first quarter) earnings were announced this week, with total revenue of US$1.494 billion for this season.
On the same day WMG released its financial report, downtown music Announced that additional US$500 million credit capacity comes from Bank of Americathe company plans to pay advances to independent artists.
at last, Tik Tok Sued the U.S. government, asking a federal appeals court in Washington to review the constitutionality of a recently passed law mandating parent companies Byte bounce The sale of TikTok’s U.S. business may be faced National ban.
Here’s what happened this week…
Photo Interview/Alami
1) Universal Music Group expects one in five streamers to pay for “super premium” tiers in the future (and 3 other things we learned from UMG’s Q1 earnings call)
it’s not surprising Tik Tok is a key topic of discussion universal music groupA first-quarter earnings conference call will be held on Thursday (May 2).
Just hours before Universal Music Group (UMG) announced a revenue increase Annual growth of 7.9% Calculated at fixed exchange rate $2.8 billion In the first quarter, the two companies ended a three-month licensing dispute with a shiny new deal.
But that’s not all Universal Music Group’s leadership has in mind. Monetize your super fans remains an important priority.
When answering questions from analysts, UMG Chairman and CEO Sir Lucian Grange Said: “We know we can better monetize high-value customers, and research shows that one in five paying music subscribers is willing to pay a premium fee. It’s tempting…”
2) CONCORD withdraws from HIPGNOSIS bidding war, saying its $1.51 billion offer is “final and will not be increased”
Race to acquire British listed companies Hipgnosis Song Fund It’s turn on Thursday (May 9) harmony Announces no increase in latest offer – leaves global investment firm black stone as the frontrunner in the ongoing takeover battle.
Concord’s latest announcement means it is out of the race, leaving Blackstone in a strong position.
“Concord Bidco confirms its offer $1.25 Each Hipgnosis share is final and will not increase,” the company said in a statement. MBW.
Hipgnosis Songs Fund’s board earlier recommended Blackstone’s offer to its shareholders while withdrawing its previous recommendation for Concord $1.25 per share supply…
Photo credit: Emmy USA
3) Warner Music Group’s first-quarter revenue was US$1.49 billion; subscription streaming revenue increased 13.5% year-on-year
Warner Music Group Financial results have been released for the three months ended March 31, 2024 (calendar first quarter – the company’s second fiscal quarter).
Based on the company’s results, WMG’s quarterly global corporate revenue reached US$1.494 billion (across recorded music, music publishing and other activities).
Warner Music Group recorded music revenue grows Annual increase of 4.3% Calculated at fixed exchange rate US$1.189 billion.
According to WMG, this growth was driven by growth in digital and licensing revenue and was “partially offset by reductions in physical and artist services and expanded rights revenue”…
4) DOWNTOWN secures $500 million credit agreement from Bank of America to promote independent artists
downtown musica department downtown music holdingsjust got another US$500 million credit capacity comes from Bank of America Expand services to independent artists and labels.
Downtown said it initially partnered with Bank of America in 2022 US$200 million A credit facility that provides artists and rights holders with an advance payment in exchange for a “short-term share of future royalties.”
The company has now increased its credit line with Bank of America by an additional $500 million to bolster its capabilities Pay advances to independent artists.
As Bloomberg reported on Thursday (May 9), the upfront payments offered by the city center “rang from tens of thousands of dollars to millions of dollars.”
Today, in its business, Downtown Music Holdings claims to be The world’s largest independent service provider…
Image source: Ascannio/Shutterstock
5) TikTok sues the U.S. government for “unconstitutional” divestment or ban laws, calling a ByteDance sale “impossible”
Tik Tok and parent company Byte bounce A lawsuit has been filed against the U.S. government over a recently passed law that requires ByteDance to sell the platform’s U.S. operations or face a nationwide ban.
TikTok said it filed a complaint with the U.S. Court of Appeals for the District of Columbia on Tuesday (May 7) calling the law “unconstitutional.”
“Congress took the unprecedented step of clearly singling out and banning TikTok: a vibrant online forum designed to protect speech and expression, 170 million Americans create, share and watch videos online,” the complaint states.
“For the first time in history, Congress has enacted a law imposing a permanent, nationwide ban on a single, designated speech platform and barring every American from participating in a unique online community with more than 1 billion People all over the world…”
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
