We catch up on the latest music publishing news, from key deals and signings to new hires, legislation and more.
Deals & Acquisitions
Joni Mitchell Strikes Global Admin Deal With Reservoir Media (Variety)
Fast-rising independent music company Reservoir Media has announced a deal with legendary singer-songwriter and eight-time Grammy winner Joni Mitchell that will see the company becoming the worldwide administrator of her publishing catalog.
Round Hill Music Royalty Fund buys catalog from British producer and songwriter Tim Palmer (MBW)
The catalog includes 30 songs covering tracks from the Pearl Jam album Ten, and producer and publishing royalties for Ozzy Osbourne’s album Down to Earth.
Gin Blossoms Take Root at Primary Wave (Hits Daily Double)
Primary Wave assembled a string of deals with the estate of Doug Hopkins, the principal songwriter on many of the band’s early hits, and the estate of former producer John Hampton, plus current members Robin Wilson, Bill Leen, Jesse Valenzuela and Scotty Johnson and former drummer Phil Rhodes.
Vivendi sells additional 2.9% of Universal Music Group to Pershing Square for $1.15bn (MBW)
Today’s news follows Pershing Square’s acquisition of 7.1% of Universal Music Group for $2.8 billion (USD) earlier this month, and brings Pershing Square’s ownership to a total of 10% of UMG’s share capital.
Header photo credit: Joel Bernstein
Signings
Sony Music Publishing UK extends deal with James Vincent McMorrow (Music Week)
James Vincent McMorrow said: “Sony Music Publishing has been my home since I was literally a kid on Myspace uploading songs, the first people to believe in my songwriting.”
Relative Music Group & Sony Music Publishing Sign Nick Donley (Music Row)
Originally from Ohio, Donley began writing songs in college and started his career writing commercials for radio. He moved to Nashville in 2006 to pursue his career as a professional songwriter.
Facts & Figures
The €296 million haul – up 5.2% on a reported basis – represented a €14 million jump on the €282 million that BMG generated in the same six-month period of 2020.
Royalties & CMOs
BMI reveals $1.34bn of distributions in its fiscal 2021 (Music Ally)
Digital played its part in the strong figures: BMI’s digital licensing revenues grew by 47% year-on-year to $448m. Ad-supported TV, subscription video services like Disney+ and Netflix, and direct-to-streaming film premieres on the platforms of Apple, Amazon and YouTube contributed to that growth.
Split Decisions: Olivia Rodrigo Has Given Up Millions in Publishing Royalties (Billboard)
Here’s what it costs the “good 4 u” singer to share credits with Taylor Swift, Hayley Williams and others.
SESAC acquires royalty collection platform Audiam from SOCAN (MBW)
The acquisition of Audiam by SESAC brings the former company into the same stable as the Harry Fox Agency, the rights licensing platform that was acquired by SESAC from the National Music Publishers’ Association in 2015.
Brazil’s SOCINPRO partners with Unison for Pan-European collection (MBW)
This collaboration agreement mandates Unison to collect digital publishing rights, both mechanical and public performance, on behalf of SOCINPRO for these territories.
Music publishers and labels urge Croatian government to change its proposed copyright bill introducing extended collective licensing (Creative Industries News)
The signatories of the letter argued that, as such, the proposed text would “seriously harm the development of the Croatian music market and Croatian and European music performers.”
Finance & Investment
UMG’s Valuation Is Rising Fast Ahead of Public Listing — Here’s Why (Billboard)
Since Tencent agreed in late 2019 to buy 20% of Universal Music Group at a $33 billion valuation, estimates of the company’s worth keep rising. The latest? JP Morgan’s $62 billion.
Why This Is the Right Time to Sell Your Catalog (Billboard)
The window may be closing soon for musicians hoping to maximize their returns on what’s likely their most precious asset.
Bill Ackman: Universal and Warner are both under-valued… but UMG’s the right bet for us (MBW)
What does Ackman think about UMG and WMG? In short, he thinks they’re both under-valued – but that, out of the two, UMG’s the better bet.
BMG’s Ben Katovsky on the DCMS Streaming Inquiry and the Future of Music Publishing (Synchblog)
BMG COO Ben Katovsky on the streaming economy, where growth lies for music publishers, and why we’re seeing an “arms race of fairness” among the industry’s biggest players.
NMPA Chief: Merck Mercuriadis Is ‘Dead Wrong’ About Big Publishers (Guest Op-Ed) (Billboard)
“Dividing publishers with antagonistic accusations, when we must work in tandem to grow songwriters’ status, is counterproductive,” says NMPA president and CEO David Israelite.
Music’s Next Big Challenge: Licensing for the New Wave of Social Platforms (Synchblog)
Nick Bennett analyses the historic limitations of music licensing and what it might take for the music industry to get the most from the new wave of social platforms.
NFTs and Music Royalty Streams: 5 Legal Issues To Be Aware Of (MBW)
Selling NFTs without proper due diligence and planning can quickly land artists and other royaltors in hot water legally, resulting in hefty fines, or even jail time.
‘No Shelf Life Now’: The Big Business of Interpolating Old Songs for New Hits (Rolling Stone)
Interpolation-loving artists like Olivia Rodrigo, Ava Max, and Doja Cat are leading a radical shift in the way the music industry thinks about catalog usage. How far can the trend go?
Music Copyright in the Age of Forgetting (The Ringer)
In the post–“Blurred Lines” legal landscape, artists like Lorde are treading extra carefully when their music ends up sounding similar to someone else’s. But our brains can’t be trusted to notice when we steal an idea—and the problem is likely getting worse.
Music Publishing 101 with Symphonic’s Randall Foster (Hypebot)
Randall Foster, VP of Business Development and GM of the Nashville office of Symphonic Distribution, joins Micahel and jay on the Music Biz Weekly podcast to discuss music publishing 101.
People
Santiago Menéndez-Pidal promoted to President, Southern Europe, at Warner Chappell Music (MBW)
Santiago Menéndez-Pidal has been promoted to the role of President, Southern Europe, at Warner Chappell Music. He will continue to be based in Madrid and report to Guy Moot, Co-Chair and CEO of Warner Chappell Music.
SESAC President Kelli Turner Exits Amid Leadership Shakeup (Billboard)
SESAC Performing Rights announced an executive shake-up today (Sept. 8), as president and COO Kelli Turner departs the company and several executives are promoted.
Music Publishing Jobs
Senior Legal Advisor – ICMP (Brussels)
The successful applicant will have the opportunity to work in a dynamic, fast paced and global trade body which works across many international institutions and companies.
Music Royalty Manager – Catch Point Rights Partners (New York)
This position manages our music royalty administration, revenue assurance and analysis functions, working across the team and with our outside administrators.
Hipgnosis Songs Fund – Finance Specialist (London)
Hipgnosis Songs Fund is looking for several driven finance people with a background in the music space to join the fastest growing and most transformational business in the song management industry.
Head here for more similar job listings. Want to list a position on our jobs board? Get in touch to place a free listing.
Panel Spotlight
Building a Better Payment Pipeline for Royalties and Residuals (RightsTech Summit)
The path from a user clicking ‘play’ to a rights owner, creator or investor getting paid can be long and winding, and often difficult to retrace. Check out the following panel recording from the RightsTech 2021 Summit where Synchtank CEO Rory Bernard discusses royalties, payments, and technology with Exactuals’ Mike Hurst, MetaComet’s David Marlin, The Ivors Academy’s Helienne Lindvall, and moderator Paul Sweeting.
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Header photo credit: Joel Bernstein
