**DEALS**
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HarbourView Equity Partners has successfully secured a $500 million debt financing deal, with KKR leading the investment and partially secured against its music rights catalogue. This achievement comes on the heels of KKR’s recent success in the music industry, with a $240 million payout from Universal Music for its 25.8% stake in Chord Music Partners, another music rights acquiring entity. Sherrese Clarke Soares, CEO of HarbourView, expressed gratitude towards KKR for their collaboration in delivering a flexible and innovative financing structure to support the expansion of HarbourView’s reach. The capital injection will further their mission of investing in assets and companies fueled by premium intellectual property, all while ensuring fair compensation for creators.
Beggars Music has announced the acquisition of Hyperdub’s publishing catalogue, including the full songs catalog of artist Burial. Head Of Creative at Beggars Music, Molly O’Brien, expressed excitement about the partnership, stating that Hyperdub is a significant and influential electronic music label known for nurturing unique and groundbreaking talent. The addition of Hyperdub writers to the Beggars Music roster is expected to complement existing talent while carving out a distinct space in the industry.
In a strategic move, KMJ Entertainment owner DEAG has acquired a majority stake in UK promoter ShowPlanr. Stuart Galbraith, CEO of KMJ, highlighted ShowPlanr’s established presence in the UK entertainment market and expressed anticipation towards developing new formats and exploring additional locations together in the future. This partnership aims to continue offering top-notch entertainment experiences to visitors while expanding their collaborative ventures.
The University Of Wolverhampton has secured naming rights for The Halls venue complex in the city, resulting in its renaming as “University Of Wolverhampton At The Halls”. Will Dowdy of venue operator AEG Europe expressed delight in bringing together two prominent community entities through this partnership and looks forward to the evolution of opportunities arising from this collaboration in the years ahead.
**APPOINTMENTS**
Deezer has named Stu Bergen as its interim CEO, stepping in for the departing Jeronimo Folgueira until a permanent replacement is found. Bergen, a former Warner executive and member of the Deezer board since February last year, expressed honor in accepting the interim CEO role during this crucial period for the company. He is committed to upholding the company’s values and driving its growth trajectory, leveraging the dedicated team and clear objectives already in place to steer Deezer towards a future brimming with possibilities.
**LEGAL**
The US Copyright Office and US Patent And Trademark Office have jointly released a report on the intellectual property implications of NFTs, concluding that current applications of NFT technology do not necessitate alterations to existing intellectual property laws. The report, commissioned in 2022 amidst heightened interest in NFTs, serves as a guide for navigating the intersection of NFT technology and intellectual property regulations.
**LABELS**
The UK recorded music sector experienced an 8.1% revenue growth, reaching £1.43 billion last year. Streaming revenues surged by 8.4%, totaling £962 million and constituting 67.4% of total income. Notably, revenues from vinyl sales increased by 18.6% to £141.6 million, while CD sales also saw a rise of 5.4% to £97.2 million. The latest report from record industry trade group BPI sheds light on the industry’s financial landscape, with similar updates from key markets across Europe anticipated ahead of the IFPI’s ‘Global Music Report’ release.
**DIGITAL**
Spotify has initiated a beta test involving the incorporation of music videos within its app. Users in eleven territories now have access to this feature, which aims to enhance the platform’s user experience and immerse audiences in the visual elements of music. Charlie Hellman, Head Of Music Product at Spotify, emphasized the importance of music videos in converting listeners into fans and positioned this integration as a natural progression within the platform’s music-centric environment.
**EDUCATION**
Music charity Restore The Music has allocated £180,000 in grants to the music departments of eleven state schools in London, Newcastle, Manchester, and Birmingham. CEO Polly Moore underscored the transformative power of music in shaping children’s futures and safeguarding the creative economy by investing in school-based music programs. The collaborative effort involving music partners like Sony Music UK aims to broaden access to music education and nurture emerging talent at the grassroots level.
**AWARDS**
Nile Rodgers and Esa-Pekka Salonen have been announced as the recipients of the Polar Music Prize this year. Recognized for their indelible contributions to music, Rodgers and Salonen will be honored at a prestigious ceremony in Stockholm, where they will receive the esteemed award and £75,000 prize money.
James MacMillan is set to receive the Academy Fellowship from The Ivors Academy, acknowledging his significant impact on music and creativity. MacMillan expressed gratitude for this recognition and reaffirmed his dedication to the transformative power of music in touching lives. The award presentation will coincide with the UK premiere of MacMillan’s latest work ‘Fiat Lux’ at the Barbican.
**ARTIST NEWS**
Neneh Cherry is gearing up to release her memoir ‘A Thousand Threads’ on 3rd October, offering readers a glimpse into her life and artistic journey.
**GIGS & FESTIVALS**
Coldplay, Dua Lipa, and SZA will headline this year’s Glastonbury Festival, joined by a diverse lineup of performers including Shania Twain, LCD Soundsystem, Burna Boy, and more. The festival promises an electrifying showcase of musical talents across various genres for attendees to enjoy.
Lee Gamble and Marina Herlop are scheduled to perform at London’s Barbican on 31st May, where Gamble will present his latest album ‘Models’ in collaboration with choreographer Candela Capitán, promising a captivating audio-visual experience for the audience.
**RELEASES**
Dua Lipa has announced the release of her new album ‘Radical Optimism’ on 3rd May, drawing inspiration from the concept of embracing chaos gracefully and infusing her music with a spirit of confidence and positivity. The album is poised to offer a dynamic blend of genres influenced by psychedelia, trip hop, and Britpop.
The Lemon Twigs have unveiled their new single ‘A Dream Is All I Know’, paving the way for the release of their upcoming album ‘A Dream Is All We Know’ on 3rd May.
The KVB has released the single ‘Overload’ in anticipation of their album ‘Tremors’, slated to drop on 5th April, promising a melodic journey through their distinctive soundscapes.