Publishing Catch-Up: New Settlement Proposes 32% Increase in Mechanical Royalty Rate, PRS for Music Revenues Up 22.4% in 2021 & More

We catch up on the latest music publishing news, from key deals and signings to new hires, legislation and more.

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Deals & Acquisitions

BMG Acquires Primal Scream Song Rights (Synchblog)

BMG has acquired a 50% stake in the song interests of Bobby Gillespie, Andrew Innes and the late Robert Young of legendary Scottish rock band Primal Scream, together with their neighbouring rights.

UMPG inks global admin deal with Spanish-language TV network Univision (MBW)

Universal Music Publishing Group (UMPG) has signed an exclusive, global publishing administration agreement with Univision to represent the network's music catalog.

Primary Wave Music Announces Stake in Songwriter David Malloy's Publishing Catalog (Digital Music News)

Terms of the deal will give David Malloy access to the Primary Wave marketing, digital, and branding teams. That includes access to the publishing infrastructure with licensing and sync opportunities on the table for Malloy's hits.

Signings

The Weeknd signs publishing pact with Universal - and he�s thrown new recordings and merch into the package too (MBW)

UMG says that as part of the agreement, Universal Music Publishing Group (UMPG) will administer The Weeknd's songwriting catalog and all his future works, "in a new long-term deal, upon expiration of his existing commitment".

$NOT Inks $1.97M Publishing Administration Deal With Kobalt (Billboard)

Rapper, singer and songwriter $NOT has secured a three year publishing administration deal with Kobalt for the tune of $1.97 million. The agreement includes his back catalog as well creations made going forward.

Mike Caren's Artist Publishing Group inks deal with Chrishan in partnership with Warner Chappell (MBW)

Warner Chappell is extending its publishing deal with Grammy-nominated hitmaker Chrishan, via a new agreement with Los Angeles-based Artist Publishing Group.

Reservoir signs Dan The Automator to expanded deal (Music Week) The new deal includes the Grammy-nominated producer and songwriter's catalogue and future works. It expands the scope of an existing publishing relationship between Reservoir and Nakamura, first established in 2012.

Hipgnosis Songs signs Normani to global publishing deal (Music Week)

A new deal with Normani underlines Hipgnosis' growing ambitions as a frontline music publishing company (following the acquisition of Big Deal Music Group a couple of years ago).

Royalties & CMOs

Copyright Royalty Board Asked to Approve 32% Increase on Mechanical Royalties for Physical Products, Downloads (Variety)

As often goes in Washington, sometimes the best solution is to meet in the middle. That appears to be the takeaway from today's motion to the Copyright Royalty Board (CRB) to increase mechanical royalties by 32% immediately.

PRS for Music reveals that revenues grew by 22.4% in 2021 (Music Ally) The highlight in 2021 was online music royalties, with those collections up 45.6% year-on-year to £267.8m - including £225.5m from streaming services.

MCPS delivers biggest royalty distribution in over a decade (Music Week) Total distributions for the year ended December 31, 2021 are L181.7m, a 15% increase of L23.8m over 2020. GEMA revenues grew by 8.4% in 2021 despite Covid-19 impact (Music Ally)

"The corona pandemic has accelerated the transition to digital. However, the growth in the online sector can only partially compensate for the losses caused by the pandemic," said CEO Dr Harald Heker.

Finance & Investment

Providence seeks to exit music market with $600mn song sale (Financial Times)

Providence Equity is trying to sell its Tempo song catalogue for a price of as much as $600mn - a key test for the strength of the music market as interest rates rise.

Where Do Music Catalog Valuations Go From Here (Leveling Up) How rising interest rates may impact the music IP M&A market.

Could the Music Catalog Rights Boom Generate Windfalls for Non-Superstars? (MBW)

Can smaller artists cash out, too? Can investors apply the same equation, and capture equally dependable returns, from the little guys?

People

Sony Music Publishing Promotes Nick Bral to Vice President, Creative (Synchblog)

Bral will be responsible for managing songwriter relations and fostering creative collaboration on behalf of the company's U.S. roster.

The MLC Seeking Suggestions for Board of Directors and Advisory Committees Candidates (Synchblog)

The Mechanical Licensing Collective (The MLC) is accepting suggestions of Publisher candidates for its Board of Directors and Unclaimed Royalties Oversight, Dispute Resolution and Operations Advisory committees.

Interesting Reads

Blokur CEO Phil Barry on Building a Bridge Between Rights Owners and Music Users (Synchblog)

Blokur Founder and CEO Phil Barry discusses improving music rights infrastructures to capitalise on an "era of golden opportunity" for the industry.

With Elon Musk In Charge, Will Twitter Finally License Music? (Billboard)

The social media platform has resisted putting deals in place in the past, but there's no telling how the new owner will run things.

The attention recession has hit Spotify too (MIDiA Research)

The attention recession is the combined impact of: 1) the end of the Covid entertainment boom (consumers have less time and money as pre-pandemic behaviours resurface); 2) economic headwinds (rising inflation and interest rates), and 3) the geo-political situation (the Russo-Ukrainian war).

Here's how Web3 is transforming the music industry (The Drum)

The age of streaming and Covid-19 has made it difficult for many musicians to earn a living and develop deep connections with fans. Web3 is poised to change that.