Universal Music’s stock spinoff shows that equity markets like the sound of music companies — and its stock’s performance so far raises the odds that more companies will join the growing gang of public firms that now includes WMG and three publishing companies. Here’s an informed but speculative guide to which companies are likely candidates, how the market might receive them and what issues they would face.
Source: Who’s Next: Five Music Companies That Could Follow UMG and Go Public
As negotiations between the International Alliance of Theatrical Stage Employees (IATSE) and the Alliance of Motion Picture and Television Producers (AMPTP) resume this week, crews across the pond will be watching closely. Because while a film and high-end TV production boom in Britain has seen rates and opportunities blossom, it has also resulted in longer working hours, pressurized working conditions and an acute skills shortage.
Source: As IATSE Threatens Action in the U.S., Are U.K. Crews Ready to Do the Same?
As expected, Blackstone and Hipgnosis Song Management have launched a $1 billion partnership to invest in songs, recorded music, music IP and royalties, the companies announced Tuesday morning. The news comes amid a flurry of activity by major finance players in the music space, with KKR reportedly in negotiations to buy a $1 billion catalog from Kobalt Capital and Apollo Global Management is investing up to $1 billion in the new music rights firm HarbourView.
Source: Blackstone and Hipgnosis Song Management Launch $1 Billion Partnership
Primary Wave has acquired a stake in the assets owned by HLC Properties Ltd, the company owned by the estate of the legendary Bing Crosby. This includes the Bing Crosby Archives, featuring thousands of recordings by Bing Crosby and other artists, many of which have never been released.
Source: Another $50m+ music deal, as Primary Wave buys stake in Bing Crosby estate
Kobalt Music has been shopping its Kobalt Music Royalty Fund II, sources say, and is now involved in final negotiations or may have already closed the deal — which sources say is the $1 billion ball park — possibly with a group of investors that includes private equity firm KKR.
Source: Kobalt Seeking $1B Buyer for Catalog Believed to Include Lorde, The Weeknd Hits
UMG’s spinoff makes it obvious that the industry has entered a new phase, which looks like a boom for the kinds of acts that do well on streaming and the labels and distributors that work with them. It could further drive up the value of recording and publishing catalogs, which have already risen to unprecedented multiples, plus inspire other companies to go public.
Source: How Universal Music Going Public Ushers in a New Era for Music
The Blackstone Group is in serious discussions to inject more than $1 billion into a dedicated music copyright investment fund — with Hipgnosis Songs Fund founder Merck Mercuriadis potentially running the show. Here’s what we know so far. Neither Blackstone nor Mercuriadis are officially commenting at this stage, though the deal is understood to involve a fund separate from Hipgnosis Songs Fund.
Source: Blackstone Is About to Drop $1 Billion on Music Copyrights
BMG has acquired what it calls “an extensive portfolio of rights” related to the music and image of Tina Turner. The deal sees BMG acquire the artist’s share of her recordings, plus her music publishing writer’s share and neighboring rights, plus her name, image, and likeness. Warner Music remains the record company for Turner’s catalog.
Source: BMG buys bundle of Tina Turner rights in music’s latest big-money deal
Through the offering of Security NFTs (S-NFTs), a term coined by Republic to describe a non-fungible digital asset, offered and sold as a “security” (as defined by the Securities Act of 1933 and the Exchange Act of 1934), users will be able to invest directly in artists’ music “for as little as $100”.
Source: Opulous teams up with Lil Pump and EDM star KSHMR to let fans invest in their music
UK-born ticketing, livestream and music discovery platform DICE has acquired U-based electronic music live streaming platform, Boiler Room. The acquisition of Boiler Room comes just a week after DICE announced that it has raised $122 million in Series C funding.
Source: After raising $122m, DICE buys livestreaming platform Boiler Room