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.
It’s been a week of structural change for the global music industry.
First and most importantly Warner Music Groupundertook a major shake-up of its recorded music business and long-time CEO of recorded music, Max Lusada, preparing to leave the company. at the same time, 10K projects founder Elliot Grange Becoming CEO atlantic music group (AMG). Working with Grainge on WMG’s newly formed Atlantic Music Group Julie Greenwaldwas appointed Chairman of AMG under the new structure…
On the other side of the Pacific, K-pop giant move News broke a week ago that the CEO announced details of the “HYBE 2.0” reorganization Park Ji-won is resigning from this role, led by Jason Jaesang Lee.
Also this week, Kobart Music Group announces its global creative head, Alison Donaldwill leave the company to “pursue other careers.”
In other news, artist groups and major music labels welcome proposal No Counterfeits Act In the U.S. Senate, this bill would create federal property rights with a voice and image of its own for the first time.
at last, MBW founder Tim Ingham Just look at the growing market share of independent music companies…
Here’s what happened this week…
1) Warner Music Group reorganization: MAX LOUSADA exits; Elliot Grainge is appointed CEO of Atlantic Music Group, JULIE GREENWALD becomes chairman
Warner Music GroupThe practice of recording music is changing.
The major music company has confirmed its global CEO of recorded music, Max Lusadawill leave WMG.
Lusada, who has been in the role for eight years and with Warner Group for 20 years, will resign from Warner at the end of the company’s current fiscal year (September 30). Lousada will continue to serve as a consultant to WMG until January 31, 2025.
In a global reorganization of Warner’s corporate structure, Elliot Grange,founder 10K projectson his way to becoming CEO atlantic music groupgo home atlantic records and 300 Erica Entertainment. The change will take effect on October 1.
Working with Grainge on WMG’s newly formed Atlantic Music Group (AMG) Julie Greenwaldwas appointed Chairman of AMG under the new structure…
Image source: Piotr Swat/Shutterstock
2) BTS home HYBE reorganizes global business as part of new “HYBE 2.0” strategy
move announced a major restructuring of its global operations.
Last week, the South Korea-based entertainment giant announced Park Ji-wonHYBE CEO for the past three years has resigned from the company.
Jason Jaesang LeeThe company’s chief strategy officer has been appointed as its new CEO.
At the time, the company said that the leadership transition had been part of HYBE’s “continuing leadership plan” since early 2024, positioning Lee as its so-called “core figure.”HYBE 2.0 strategy launched“.
On Thursday (August 1), the company released a detailed description of HYBE 2.0, calling it its new “strategic direction and business plan”…
3) Artists and major music companies welcome the introduction of the “landmark” anti-counterfeiting bill in the U.S. Senate
Many groups representing artists and rights holders support new “landmark” legislation aimed at combating the proliferation of artificial intelligence deepfakes, including music deepfakes, in the United States.
this Fostering originality, promoting the arts and ensuring entertainment safety (No fakes) Behavior will create for the first time a federal property rights In his own voice and likeness.
The bill was introduced in the U.S. Senate on Wednesday (July 31) by two Democratic senators – Senator Chris Coons Delaware and Senator Amy Klobuchar Minnesota – and two Republicans, Senator Marsha Blackburn Tennessee and Senator Thom Tillis North Carolina.
The bill has the support of many prominent figures in the music industry, including Warner Music Group CEO Robert Kinkelwho appeared before the Senate Judiciary Committee in April to support the legislation…
4) Kobalt global creative director Alison Donald exits the company
Alison Donald, cobalt’s global creative head announced that she will be leaving the company at the end of this month to “pursue other ventures.”
According to Kobart, the executive has been a “key driver of culture” during his seven-year tenure at the company, signing such Sam Fender, Smoking after sex, coffee, Gabriel, jungle, Cruambin, Rage against the machine, last supper and Tom Odell.
Donald joined Kobalt in 2017 and is responsible for A&R and creative across the UK and Europe kobalt music publishing house and startof UK and European creative teams.
Just over a year ago, Donald was promoted to global creative director, splitting her time between London and Los Angeles…
5) Independent games are eating into the market share of major mainstream media. How will Warner Music Group respond after “Believe in the Legend”?
Six months ago, in this column, I laid out why I believed we were likely to see large-scale (possibly over US$1 billion) acquisitions this year in the independent distribution and services space.
After this column was published, Warner Start sniffing around believeThink potential US$1.8 billion bid for the French company before ultimately giving up. Believe isn’t considered an ideal M&A target for Warners, but I still think we’ll see WMG make one or more acquisitions in this space in the coming months.
In addition to the fact that WMG C.E.O., there are several key reasons Robert Kinkel It has previously expressed a desire to accelerate Warner’s position among “middle class” independent artists.
First, Warner will be keen to close the scale gap with its two biggest rivals, sony and common.
Another key driver of Warner Music Group’s acquisition interest in the modern independent distribution space? The changing face of the music industry…
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