Music Industry Deals
Several significant deals have been announced in the music industry. Sentric has formed a joint venture with Cooking Vinyl Publishing, allowing Cooking Vinyl’s clients to access Sentric’s royalties infrastructure. This partnership aims to strengthen both companies’ operations and support their roster of writers. Gamma, founded by Larry Jackson, has formed strategic partnerships with various African and Middle Eastern music entities to connect regional artists to global audiences. Believe has acquired Doğan Music Company, and BandLab has collaborated with Strongroom Studios to create exclusive royalty-free sample packs. Additionally, Universal Music has partnered with ProRata.ai to compensate content owners when generative AI uses their work, and IPOA has been established as a new collecting society for performance rights in Georgia.
How to Earn 100$ per Day?
Executive Appointments in the Music Industry
Several notable appointments have been made in the music industry. Jessica Roffe has joined SoundExchange as Associate Director. Julie Greenwald has announced her departure from Warner Music’s Atlantic Music Group, and Paquin Entertainment Group has appointed Andrew Akman as Chief Operating Officer. ASM Global has appointed Ralph Marchetta as Regional Vice President of Live Entertainment.
Labels, Publishing & Distribution Updates
Sony Music reported a strong fiscal quarter with significant revenue growth in recorded music and publishing. Warner Music’s fiscal third quarter results showed growth in subscription streaming revenues but declines in other areas. HYBE reported record quarterly revenue despite a drop in net profit. Warner Chappell Music signed singer-songwriter Hueston to a publishing deal.
Legal News in the Music Industry
Rammstein’s Till Lindemann has filed a criminal complaint against Der Spiegel over its reporting of sexual misconduct allegations. Space Ibiza has rebranded its residency as “NOSPACE” following a trademark dispute. Former US President Donald Trump has commented on rapper Young Thug’s trial, and BTS member SUGA faced legal consequences for riding an electric scooter while intoxicated.
Live Music Updates
Journey cancelled their UK and Ireland tour due to internal issues. The Australian government launched the Revive Live Program to support live music venues and festivals. Lauryn Hill and The Fugees cancelled their US tour, and Pitbull secured naming rights for Florida International University’s football stadium.
Other Industry News & Events
Taylor Swift leads the nominations for the 2024 MTV Video Music Awards. Various artists have released new singles and albums, including Toro y Moi, Fontaines D.C., and Rex Orange County. Additionally, Fleet Foxes’ frontman Robin Pecknold announced a solo US tour.