Hollywood production workers pushing for better pay and working conditions voted nearly unanimously to authorize a strike, a scenario that could hobble the entertainment industry as companies race to keep up with a surge in on-demand films and TV shows. The union represents more than 60,000 set builders, costume designers, video engineers and other behind-the-scenes workers.
Source: Hollywood production workers authorize strike, setting up industry showdown over streaming profits
Round Hill’s publicly-traded UK fund has published its first set of interim financial results, for the period ended June 30, 2021. As of that date, Round Hill Music Royalty Fund Limited (RHM) had invested approximately USD $342 million. That money went on the acquisition of 38 catalogs, plus the purchase of a 29.1% stake in RH Carlin Holdings LLC.
Source: Round Hill’s UK Fund has spent $342m on acquisitions – and is buying catalogs at a multiple of 16.2x
The Music Fund enables artists who earn $5,000 or more from streaming annually to sell a percentage (which artists select) of their master-royalty income for a two-year period. TMF then fronts a lump-sum payment – not a loan or an advance, with no obligation on the recipient’s end – and the song rights revert to the creator at the end of the agreed-upon window.
Source: HIFI Acquires The Music Fund, Outlines Plans to Integrate AI Technology
Blockchain-based music distributor Blarecast Systems has announced the completion of a funding round led by Ayre Ventures. Like the majority of recent announcement messages concerning startups’ raises (and sales), the text doesn’t disclose the transaction’s financial specifics. However, a Blarecast Systems exec said that the round involved “’multi-million £ funding.”
Source: Blockchain-Based Blarecast Systems Completes ‘Multi-Million’ Dollar Raise
Voly – which has already seen success in the super-yachting sector with its FX services and accounting solutions – says that it has been working with a number of music industry companies and executives in recent months to develop its platform.
Source: UK-based Voly launches new financial management software and payment platform for the music industry
The catalog comprises 532 original recordings, including hits such as Love Train, Use Ta Be My Girl, Cry Together, Back Stabbers, For The Love of Money, Forever Mine, Put Your Hands Together, Stairway To Heaven and I Love Music. The catalog acquired includes 100% of The O’Jays master royalty income.
Source: Round Hill Royalty Fund buys The O’Jays recordings catalog
UK firm Lickd is one of the startups trying to make it easier for YouTubers and other online creators to license commercial music to use in their videos. Now it has raised £5.1m of funding from some very interesting investors: Warner Music Group, Fortnite publisher (and Apple nemesis) Epic Games, and the investment firm of Pink Floyd’s Nick Mason, which led the round.
Source: WMG and Epic Games invest in music licensing startup Lickd
Speaking during an interview at the Goldman Sachs‘ Communacopia event this afternoon, Cooper confirmed that Warner Music Group’s recorded music operation has a present run-rate of $235 million per year in revenue from “alternative offerings that create new use cases for music”.
Amortized spending on movies and TV shows by Netflix will rise 26% to $13.6 billion in 2021 and will reach $18.92 billion by 2025, according to predictions published Thursday by S&P Global Market Intelligence’s Kagan media research division. Of that $13.6 billion in amortized spending, $5.21 billion is earmarked for original productions, Kagan said.
Source: Netflix Content Spending Predicted to Rise 26% in 2021
