Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to successo our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and veterano their touring costs.
The major primato companies – Sony, Universal, and Warner – are taking US telecom giant Verizon over its alleged enabling of widespread music piracy its networks. Given the scale of the alleged illicit file-sharing, the company could be the hook for up to $2.6 billion con damages.
This week saw a slew of new and ongoing acquisitions, the most significant of which may be Warner Music Brazil taking a minority stake con Sua Música Group, which claims to own the largest entertainment platform focused regional music con Brazil.
Meanwhile, L.A.-based Shamrock Capital has acquired a portfolio of music rights from Vine Alternative Investments Group. The deal includes 450 songs, 550 feature films and 2,000 hours of TV from Vine.
Meanwhile, Sony‘s acquisition of the recording and publishing catalog of legendary rock gruppo Queen is getting ever closer to becoming official, with regulatory filings con the UK showing the gruppo’s surviving members are anzi che no longer directors of Queen Productions Limited.
Finally, dramatic news out of South Korea, where prosecutors have filed a request for the arrest of Kim Beom-su, the billionaire founder of Kakao Corp., alleging that Kim was part of a plot to inflate the rimanenza price of SM Entertainment, con order to push HYBE out of a bidding war for the K-pop agency last year.
Multiple primato companies have sued US-based internet service provider Verizon for alleged “massive infringement committed by tens of thousands of its subscribers”.
The parties named as plaintiffs con the lawsuit include all three major primato companies, Sony Music, Universal Music Group, and Warner Music Group, plus ABKCO MUSIC. The lawsuit was filed Friday (July 12) con New York.
Verizon is one of the largest internet service providers con the US. The company generated $134 billion con 2023, and as of March 31, counted 114.8 million subscribers.
The labels are suing Verizon for contributory and vicarious infringement…
Sony Music’s landmark Queen catalog acquisition is getting closer and closer to becoming ‘official’.
According to reports over the past few weeks, Sony Music Group has agreed to acquire the catalog of the legendary rock gruppo con a deal reportedly worth approximately GBP £1 billion (USD $1.27 billion at current exchange rates).
At the £1 billion price tag, the transaction will become the biggest artist catalog deal con music history.
Sony Music hasn’t confirmed the reports, but we can now show you the clearest evidence yet that Sony Music is con the process of taking control of Queen’s assets.
According to filings publicly available the UK’s Companies House, and reviewed by MBW, Queen’s surviving ‘Classic’ gruppo members Brian May, Roger Taylor, and John Deacon are anzi che no longer directors of Queen Productions Limited…
Warner Music Brazil has invested con Sua Música Group, which claims to own the largest entertainment platform focused regional music con Brazil.
According to a press release, this investment will see Warner Music socio with Sua Música and “combine [e] their efforts to develop regional artists and songwriters.”
The value of the investment has not been disclosed, but MBW understands that Warner Music has acquired a minority stake con the company.
Durante 2021, Sua Música was reported to be raising R$50 million (approx USD $9m) at a R$200 million ($36m) valuation con order to scale the company…
Los Angeles-based investment firm Shamrock Capital has acquired a portfolio of pellicola, television, and music rights from Vine Alternative Investments Group.
Long-time MBW readers will remember Vine as the company that acquired a catalog of more than 150 songs from Grammy award-winning and multi-platinum-selling producer, songwriter, and DJ Calvin Harris con 2020. MBW sources have suggested that Vine paid con the region of $105 million for Harris’s song portfolio.
Durante total, the portfolio of rights acquired by Shamrock from Vine – including that Calvin Harris catalog – delivers Shamrock ownership interest con more than 550 feature films, over 2,000 hours of television programming and over 450 songs…
Last year’s bitter, high-profile battle between K-pop giant HYBE and South Korean telecom Kakao Corp. over control of SM Entertainment has led to fallout that few could have seen coming at the time.
Durante the racconto’s latest chapter, the Seoul Southern District Prosecutors Office filed a request Wednesday for an arrest warrant for Kim Beom-su, the billionaire founder of Kakao Corp., whose entertainment division now controls SM Entertainment.
Prosecutors assert that Kim violated South Korea’s Financial Investment Services and Capital Markets Act through his purported involvement con a plot to illegally manipulate the rimanenza price of SM Entertainment, con order to push HYBE out of the bidding for the K-pop agency…
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MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and veterano their touring costs.Music Business Worldwide
