We catch up on this week’s music publishing news, from key deals and signings to new hires, legislation and more.
Deals & Acquisitions
Hipgnosis Songs Fund buys huge catalog from Kobalt in $322.9m acquisition (MBW)
The deal includes catalogs from hit writers such as Lindsey Buckingham, Steve Winwood, the B-52s, 50 Cent, Savan Kotecha, Skrillex, Nelly, Bonnie McKee, George Benson, Christina Perri, and Walter Afanasieff (including Afanasieff’s cut on Mariah Carey’s All I Want For Christmas Is You).
Tencent Music Entertainment Group and peermusic strike exclusive digital licensing deal in China (MBW)
Tencent Music Entertainment Group (TME) and peermusic have signed an exclusive digital licensing deal to promote and distribute peermusic’s publishing catalog in China.
Signings
Warner Chappell Music renews deal with Chinese superstar David Tao (MBW)
‘His evergreen songs have been very influential to the development of Asian music,’ says Monica Lee, President, Warner Chappell Asia Pacific.
Former Syco A&R boss Anya Jones signs songwriting deal with Spirit Music Group (Music Week)
Jones is well known for her career as a label exec, including 12 years at Syco, where she was ultimately head of A&R.
Sony/ATV Signs Producer-Songwriter Johnny Goldstein to Co-Publishing Deal (Variety)
Sony/ATV Music Publishing has announced the signing of producer and songwriter Johnny Goldstein to a new co-publishing deal, in partnership with Artist Publishing Group (APG).
BDi Music signs singer-songwriter AJ Wander (Music Week)
BDi Music owner and MD Sarah Liversedge said: “It’s like finding a rare gem when a demo submission jumps out at you as AJ Wander’s did to me during lockdown earlier this year.”
Steve Dorff Heads To Demolition Music Publishing (Music Row)
Songwriter Steve Dorff has inked an exclusive deal with Demolition Music Publishing. Previously based in Los Angeles, Dorff was inducted into the Songwriters Hall of Fame in 2018 and has earned more than 40 BMI honors during his career.
Facts & Figures
Why the Major Music Companies’ Profits Are Soaring in the Year of Chaos (Rolling Stone)
Universal, Sony and Warner appear to have curbed their spending in 2020 while boosting profits. But what happens when record labels need to ramp expenditure back up next year?
The State of the Music Industry in 2020 (Toptal)
The music industry has experienced a dramatic turnaround over the past five years. Technological advances driven by streaming have ushered in a period of growth.
Finance & Investment
Money Moves – Round Hill CEO Josh Gruss Talks Doubling Down on Country and Rock, and the Growing Music Royalties Investment Market (Synchblog)
In the next instalment of Money Moves, Josh Gruss discusses Round Hill’s key interest in country and rock and the development of the music royalties investment market.
The growth of the Hipgnosis fund comes as it faces competition from a new rival in Round Hill Music Royalty fund, an investment company deriving an uncorrelated income stream from music royalties that is set to list this month.
Music Investors Don’t Stop Believin’ in Streaming (WSJ)
Investors backing musical heavy hitters such as Adele, Bon Jovi and Journey are profiting this year as homebound listeners tune in to music-streaming services, boosting the value of song catalogs and the royalty payments they generate.
Hirings & Promotions
Warner Chappell France boss Caroline Molko to exit, succeeded as MD by Matthieu Tessier (MBW)
Caroline Molko is set to move on after 18 successful years as the company’s Managing Director. She will be succeeded by respected executive Matthieu Tessier, who has served as Warner Chappell’s Head of A&R in France for the last five years.
Robert Bennett Joins SOCAN as Chief Financial Officer (SOCAN Magazine)
“Robert Bennett’s more than 20 years of financial expertise will serve SOCAN well,” said SOCAN Interim CEO Jennifer Brown. “His impressive financial management, revenue reporting, and strategic financial planning experience make him an excellent addition to the executive team.”
Royalties & CMOs
Canada’s SOCAN Reports Growth In 2019, Distributions Shrink Due to Tech Rollout (Billboard)
SOCAN, the Canadian performance right organization, reports that in 2019 its total collections grew 8.2% to C$405.6 million ($308 million) from C$375 million ($285 million), citing 37.6% growth in digital royalties to C$86.1 million ($65 million) from C$62.6 million ($47 million).
Collecting society Apra reveals Covid-19 impact on royalties (Music Ally)
Australian collecting society Apra is the latest PRO to quantify the effect that the Covid-19 pandemic has had on its collections, and thus on its payouts to songwriters and publishers.
Music Publishers Ask CRB to Set Interim Rates, Saying Further Delay May Lead to ‘Free-for All’ (Billboard)
The motion asks the Copyright Royalty Board to take steps to “avoid significant confusion and disruption in the mechanical licensing market.”
ONErpm partners with Unison for pan-European and pan-African collection (MBW)
Global distribution, label services, and rights management company ONErpm has partnered with Barcelona-based Independent Management Entity (IME) organization Unison for pan-European and pan-African collection of publishing copyrights.
PRS for Music publishes Gender Pay Gap Report 2019 and 2020 (PRS for Music)
PRS for Music has made progress since its first gender pay gap report in 2017 and is committed to doing more to close the gap and to champion diversity and inclusion at every level of the organisation.
Spotify is letting record labels influence personalized recommendations… so long as they pay for it in royalties (MBW)
“Labels or rights holders agree to be paid a promotional recording royalty rate for streams in personalized listening sessions where we provided this service.”
Interesting Reads
Discovery Mode: Understanding how Spotify thinks (MIDiA Research)
Spotify’s Discovery Mode announcement looked at the very best a poorly timed announcement, coming at a time when artists and songwriters are more concerned about their income than at any other since the music business returned to growth more than half a decade ago.
Music’s crucial role in the 2020 US elections – despite the pandemic (MUSIC x CORONA)
Video games, virtual concerts and campaigning, music venues repurposed for polling, and the nightlife shutdown as a campaign topic.
A No Deal Brexit will be “catastrophic” for British touring artists, music industry warns (NME)
Figures from the UK music industry have warned of the potentially “catastrophic” impact of a No Deal Brexit, leaving thousands of British artists unable to afford to Europe next year.
Artists Who Don’t Repurpose Their Music Are Leaving Money on the Table (Rolling Stone)
As streaming becomes a superstar’s game, a film and television composer explains how the average musician can build a single song into 20 different revenue streams — or more.
“The Artist Is Still Getting F–ked”: Why the Music Industry Is Still So Hard on Women (Vanity Fair)
In this excerpt from her new book, Nobody Ever Asked Me About the Girls, Vanity Fair contributor Lisa Robinson details the many built-in challenges of the music industry—and talks to the women, like Adele and Lorde, who have managed to break through it.
‘He’s our Satan’: Mega music manager Irving Azoff, still feared, still fighting (LA Times)
Music industry mogul Irving Azoff is a 2020 inductee into the Rock and Roll Hall of Fame: “I don’t think there’s that many smart people in our business.”
Does TikTok Have More ‘Dreams’ Up Its Sleeves? (Billboard)
TikTok is “the most exciting thing happening in the catalog business in years and years, because of the ability and the opportunity to reach young people,” says Bruce Resnikoff, president/CEO of Universal Music Enterprises.
‘I didn’t expect a fuss’: How a composer with dementia got to No 1 (The Guardian)
Not many 80-year-olds have a hit single. Paul Harvey has managed to write one while living with dementia.
Music Publishing Job Spotlight
Copyright Assistant – Kobalt Music (London)
Kobalt Music’s Publishing Operations department is looking for a self-motivated and proactive administrator with excellent communication and great interpersonal skills to join their London Copyright team.
Systems & Asset Administrator – Warner Music Group (Los Angeles)
This is a fantastic opportunity to join the innovative and highly sought-after IT team at Warner Chappell Production Music.
Director of Music Catalog Analysis – Vezt (Los Angeles)
Qualified candidates should have a music publishing or PRO/finance background with experience in valuing music catalogs internationally, across all income streams.
Check out more available positions here or get in touch to post a free job listing.
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