According to Cooper, as a result of WMG’s “digital first strategy”, the company’s revenue from emerging platforms, including Facebook, video app TikTok and fitness platform Peloton “is now running at roughly $235 million on an annualized basis”. Cooper also confirmed that this figure is “just from recorded music”.
Finance
Former-Uni vice chair Ron Meyer Inks Deal to Rep Qatar as It Eyes Hollywood Investments
Meyer will serve as an adviser to the Doha Film Institute. The precise scope of his mission is not clear but sources say he will offer counsel on investment in content as well as potentially building stages to attract production. Qatar’s aim to become a bigger investment player in Hollywood is said to be a major foray spearheaded by Hassan Al-Thawadi, the architect behind the country’s 2022 FIFA World Cup event.
Source: Ron Meyer Inks Rich Deal to Rep Qatar as It Eyes Hollywood Investments
How future proof is the current evaluation of music copyrights?
Evaluation of music rights based on past income and future income according to the old income splits needs re-evaluation. New rights owners have new relationships. They will need them to maximise the potential revenue in the Metaverse and capitalize on what NFTs have to offer.
Source: How future proof is the current evaluation of music copyrights?
Eminem, Sony Music Invest in NFT Marketplace Startup MakersPlace
The gold rush surrounding non-fungible token (NFT) digital collectibles continues: MakersPlace, a marketplace for buying and selling digital artwork and other creations, has raised $30 million in funding from investors including rapper Eminem and Sony Music Entertainment.
Commentary: How copyright violations can crash your NFT party
As more and more institutional money is invested into NFTs, issues that may have been ignored in a niche industry are suddenly becoming important in a multibillion-dollar industry. In the NFT sphere, one previously ignored issue is intellectual property (“IP”) law. Even in the decentralized world of NFTs, copyright laws apply, and investors should understand their importance prior to investing.
Source: Commentary: How copyright violations can crash your NFT party
Sony’s recorded music revenues jumped by $451m YoY in calendar Q2, as streaming revenues rose 50.2%
Sony Music’s quarterly recorded music revenues rose by 48.2% year-on-year in calendar Q2 2021 (the three months to end of June). In fact, they were up by a massive USD $451 million versus the same period in 2020. This increase came off the back of an uncharacteristically soft quarter for Sony in calendar Q2 2020, when – hit by the effects of the pandemic – it turned over $936 million from recorded music.
Source: Sony’s recorded music revenues jumped by $451m YoY in calendar Q2, as streaming revenues rose 50.2%
Warner Music Posts Strong Quarter as Streaming and Vinyl Soar
Warner Music Group posted $1.34 billion in revenue for its fiscal third quarter ended June 30, the company announced on Tuesday, with a 32.7% year-over-year revenue boost and a 33% jump in streaming. And vinyl and other physical product sales were up to such a degree — 155%! — that it actually cut into digital’s percentage of recorded-music venues.
Source: Warner Music Posts Strong Quarter as Streaming and Vinyl Soar
Music licensing startup Slip.stream raises $3.25m
Slip.stream, described as a “creator safe music platform” was launched by entrepreneurs by David Carson (Fuse, Heavy.com, New Stand founder), Dan Demole (Jingle Punks founder) and Jesse Korwin (Jingle Punks CMO). The platform offers a copyright strike safe library of over 50,000 tracks and 40,000 sound effects, filled with what it says is “real music from real artists”.
Music technology company VNUE to acquire livestream platform Stageit
Music technology company VNUE, Inc. is acquiring online concert platform StageIt. The deal will add over $9 million in revenue and “hundreds of thousands” of live music fans and complementary technology to VNUE’s portfolio, according to a statement from VNUE.
Source: Music technology company VNUE to acquire livestream platform Stageit
Reservoir is now a public company, as it successfully floats on Nasdaq via SPAC merger
The acquisitive music rights company confirmed the closing of its previously announced business combination with Roth CH Acquisition II Co. (ROCC), a publicly traded special purpose acquisition company (SPAC) formed by Roth Capital Partners and Craig-Hallum Capital Group. That combined company’s name is Reservoir Media Inc., and it continues to be led by Reservoir’s founder and Chief Executive Officer, Golnar Khosrowshahi.
Source: Reservoir is now a public company, as it successfully floats on Nasdaq via SPAC merger