Finance

Who Really Owns Spotify?

According to a flurry of new SEC filings, financial giants have acquired big chunks of the streaming service. SEC documents show that exactly 65 percent of Spotify was owned by just six parties: the firm’s co-founders, Daniel Ek and Martin Lorentzon (30.6 percent of ordinary shares between them); Tencent Holdings Ltd. (9.1 percent); and a run of three asset-management specialists: Baillie Gifford (11.8 percent), Morgan Stanley (7.3 percent), and T.Rowe Price Associates (6.2 percent).

Source: Who Really Owns Spotify?

Music licensing startup SyncFloor secures $200,000 investment

Seattle-based music licensing startup SyncFloor, co-founded by 20 year Microsoft veteran Kirt Debique (pictured) and veteran IP attorney Cestjon McFarland has been accepted as part of Betaworks Audiocamp program. Betaworks is a New York-based startup studio and seed stage venture capital company.

Source: Music licensing startup SyncFloor, co-founded by 20 year Microsoft veteran, secures $200,000 investment

Distribution company Beatroot Music to administer ‘thousands in unpaid royalties’ of former Dart Music

Beatroot Music, a distribution company based in Memphis, has announced that it is administering the unpaid royalties of former Dart Music, which filed for bankruptcy in 2017 with debts totaling $2.57 million. According to Beatroot, agreeing to administer these funds allows the company to fulfill pending royalty payments to hundreds of rightsholders who distributed their works through Dart’s services.

Source: Distribution company Beatroot Music to administer ‘thousands in unpaid royalties’ of former Dart Music

‘Walking Dead’ Profits Trial Finds Fox TV Boss On Hot Seat Over AMC Backend Payouts

Long referenced in the nearly three-year-old suit filed by EPs Robert Kirkman, Gale Anne Hurd, David Alpert and others alleging that a skimming of big bucks through low license fees, self-dealing and more creative accounting, former AMC top dogs Marci Wiseman and Charlie Collier were finally under direct scrutiny.

Source: ‘Walking Dead’ Profits Trial Finds Fox TV Boss Charlie Collier In Zombie Hot Seat Over AMC Backend Payouts

Primary Wave Acquires 70% Stake in Air Supply’s Royalty Income Stream

The publisher acquired the stake directly from Air Supply members Graham Russell and Russell Hitchcock. Under the agreement, Primary Wave will work with the pair to market their catalog while also pitching licensing and sync opportunities, though it does not include publishing administration rights, which remain with Universal Music Publishing Group and Warner Chappell.

Source: Primary Wave Acquires 70% Stake in Air Supply’s Royalty Income Stream

Universal Music Publishing Group launches new royalty portal that offers no-fee advances

The portal is available via an app downloadable on both iOS and Android and, according to UMPG, is based on “the latest in cloud-indexing technology.” It allows clients to view earnings by work title, accounting periods, territory, digital service provider, income source, income group, income type, local/international and more.

Source: Universal Music Publishing Group launches new royalty portal that offers no-fee advances

Patreon will now give creators cash advances on their subscription money

Patreon has started a program called Patreon Capital, which grants micro-loans to creators. It’s essentially a cash advance: you get money now in exchange for some of your future earnings plus a small premium. It’s different from Patreon’s usual business but it will diversify the company’s revenue, which should make Patreon a more sustainable business.

Source: Patreon will now give creators cash advances on their subscription money

Meet the Man Who Holds Hollywood and Silicon Valley’s Future in His Hands

As showbiz scales up to battle Big Tech, Makan Delrahim, the nation’s top antitrust regulator (and a former movie producer), is becoming as influential as any mogul over Netflix, Megamergers, the Writers Guild and maybe the entire future of the entertainment business.

Source: Trump’s Enforcer: Meet the Man Who Holds Hollywood and Silicon Valley’s Future in His Hands

In 2021 Budget Proposal, Trump Once Again Seeks to End Federal Library Funding

For the fourth straight year, the Trump Administration has proposed cuts to the federal Institute of Museum and Library Services, and with it virtually all federal funding for libraries. Also for the fourth straight year, the Trump administration has proposed the elimination the National Endowment for the Arts and the National Endowment for the Humanities.

Source: In 2021 Budget Proposal, Trump Once Again Seeks to End Federal Library Funding

FTC to examine decade worth of acquisitions by Alphabet, Amazon, Apple, Facebook and Microsoft

Companies like Apple, Amazon and Google do not always disclose every acquisition they make, especially when the companies in question are little fish in the tech big pond, but in aggregate, all that M&A could pose bigger questions about how they are using their financial power and market influence in anticompetitive ways.

Source: FTC to examine every acquisition by Alphabet, Amazon, Apple, Facebook and Microsoft in 2010-2019 over antitrust issues – TechCrunch

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