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.
A news report published this week sony musicPurchase discussions are ongoing with unnamed partners QueenThe epic sum of the catalog (presumably recording rights and publishing rights) US$1 billion.
Sony Music Group chairman talks about Sony in speech at company’s annual business unit meeting Rob Stringer Announced an interesting proposal: He urges music streaming services to start charging “Moderate fees” for their ad-supported subscription tier.
Elsewhere in the music industry, we got news this week that K-pop giant move sold one US$50 million equity in a competitor company SM Entertainment. This is noteworthy because a year ago HYBE lost a match vs. kaco co., ltd. Used to control SM.
News that the U.S. Department of Justice filed a lawsuit seeking to dismantle live country and Ticketmaster Continue to echo. In a new analysis, MBW asks: Can Live Nation win this fight? The short answer is: yes, they can.
Finally, MBW looks at who’s funding this week sunthis awesome artificial intelligence music generator is now reportedly worth US$500 million. As it turns out, Suno’s investors come primarily from the tech world, with few having music backgrounds.
Here’s what happened this week…
Image source: Shutterstock
1) Sony Music in talks to acquire QUEEN CATALOG in potential $1 billion deal (Report)
sony music Reportedly in talks to buy iconic British rock band’s catalog Queen.
According to Bloomberg, the company published an article on Wednesday (May 29), citing sources as saying that Sony is currently “working with another investor” on a deal that “could total US$1 billion“.
News of Sony reportedly being in talks to acquire Queen’s records comes a year after Music Business Worldwide broke the news that Queen representatives were in talks with certain companies over a potential $1 billion-plus record deal Sales to be discussed (May 2023).
As we report, the catalog combines Rights to publish and record musicall jointly and equally owned by the band’s surviving “classic” lineup (Brian May, Roger Taylor, John Deacon) plus inheritance Freddie Mercury…
2) Sony Music Group boss Rob Stringer talks acquisitions, artificial intelligence and how music streaming services should start charging free users
Sony Music Group President Rob Stringer He has his sights set on a new monetization goal: getting music streaming services to start charging for their ad-supported subscription tiers.
Speaking at Sony Group’s annual business unit meeting on Thursday (May 30), Stringer suggested that DSPs start charging “Moderate fees” on their free subscription level.
“While free tiers attract billions of users each month, they contribute poorly to streaming monetization, meaning their primary purpose is to convert users into paying subscribers,” Stringer said.
“At Sony Music, we believe Everyone is willing to pay something Almost the entire musical world is accessible,” he added…
Image source: Press
3) HYBE sells US$50 million worth of SM Entertainment shares
South Korea-based entertainment giant move Sold US$50 million Value of its stake in K-pop company SM Entertainment.
This is according to a regulatory filing released by HYBE on Tuesday (May 28), which indicated that the company has sold 755,522 shares SM Entertainment’s stock price is 90,531 won per share.
HYBE’s shareholding in SM Entertainment has been reduced to 2.21 million shares As a result of the transaction.
According to Korea JoongAng Ilbo, HYBE sold shares equivalent to 3.2% equity Holding shares in SM Entertainment, reducing HYBE’s shares in SM to 9.38%…
Image source: T. Schneider/Shutterstock
4) The Justice Department is suing to break up Live Nation. What exactly is this lawsuit trying to accomplish–can the concert giant win?
After an 18-month investigation, the U.S. Department of Justice filed a civil antitrust lawsuit against the company live countrythe owner of Ticket Masterbecause what it says is “monopoly and other illegal behavior that hinders market competition in the entire live entertainment industry.”
The U.S. Department of Justice got right to the point, asking the U.S. District Court for the Southern District of New York to order the company to be broken up so that Live Nation and Ticketmaster could undo it again. two separate entities After spending 14 years with the same company.
Legal analysts say the Justice Department first approved the merger in 2010 under then-President Obama and reached another agreement in 2019 over alleged monopoly practices, meaning It may be difficult to convince the court Today, disbanding Live Nation/Ticketmaster is a necessary remedy for its alleged problems.
However, the political environment of our time is markedly different from that of the Obama era. Live Nation argued that the antitrust case against it was a result of the U.S. government giving in to “populist impulse“In the body politic, we are indeed living in an age of populism…
Image source: Phonlamai Photo/Shutterstock
5) SUNO may be sued by the record company. Who’s backing it with $125 million?
Last week there was news that artificial intelligence music generator sun Already proposed $125 million in Series B financing.
According to sources cited by The Information, this gives the company an implied value of US$500 million. Not bad for a two-year-old startup.
Suno, one of the most well-known AI music generation platforms, is capable of creating entire tracks that sound so much like artificial music that it reportedly even upset some of its own developers.
Below, we take a look at Suno’s investors, their philosophy, and other businesses they’ve invested in. One thing is clear: they come primarily from the tech world, not the music industry…
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