iHeartMedia has entered into an agreement with The E.W. Scripps Company to acquire Triton Digital for $230 million. Operating in more than 50 countries, Triton Digital is an Advertising Technology SaaS platform for audio streaming, podcasting and metrics that enables publishers to monetize their audiences.
Source: Another giant podcast buy: iHeartMedia acquires Triton Digital for $230m
Disney alums Kevin Mayer and Tom Staggs are in the early stages of shopping for content companies to roll up into a larger operating company with backing from private equity giant Blackstone. High on the pair’s wish list is Scooter Braun’s media and management firm SB Projects.
Source: Kevin Mayer, Tom Staggs Eye Rollup of Content Firms Including Scooter Braun’s SB Projects
The Mechanical Licensing Collective (MLC) has officially received $424 million worth of unpaid royalties from digital platforms including Spotify, YouTube, and Apple Music. A total of 20 digital service providers (DSPs) have transferred unclaimed payments to the MLC “to seek the MMA’s [Music Modernization Act’s] limitation on liability for past infringement,” the organization said.
Source: Mechanical Licensing Collective Receives $424 Million in Unpaid Royalties
Pex states that the new investment will help it to scale its Attribution Engine (AE), which the company describes as “the licensing infrastructure for a better Internet”. According to a press statement: “AE creates a single marketplace for digital content, transforming how creators, rightsholders and platforms do business together by enabling fair compensation and increased access to copyrighted content”.
Source: Licensing platform Pex secures $57m investment from Tencent, Tencent Music Entertainment and others
Lawyers for a potential class of e-book consumers have asked a federal judge to consolidate four cases alleging an e-book price-fixing conspiracy among Amazon and the Big Five publishers. In a letter and proposed order filed with the court late last week, attorneys for the proposed consolidated consumer class asked judge Gregory H. Woods to join the cases and to set a new schedule.
Source: Amazon E-book Case Sprawls, Lawyers Propose Consolidation
UMG parent Vivendi has confirmed it is examining a proposal to spin 60% of the music company out from the French company’s corporate ownership, and for UMG to start trading on the Euronext Amsterdam stock exchange by the end of 2021.
Source: Confirmed: Universal Music Group set to go public on Euronext Amsterdam stock exchange this year
The Federation of European Screen Directors (FERA), an association of European film and TV directors, has called on global streaming companies to share viewership figures and properly compensate filmmakers for success on their platforms.
Source: European Directors Call on Streamers to Commit to “Fair” Compensation
The current “pro rata” streaming payment system was established at a time when this format was fairly marginal; it was based on subscribers (mainly young people) who listened consistently throughout the day to songs formatted over an average duration of around 3 minutes 30 minutes. Today, streaming is practised by people aged 7 to 99, across all genres, from 3 minute songs to classical symphonies.
Source: Music streaming must switch to a fair and logical payout model. There is no time to lose.
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Universal Music Group (UMG) and K-pop giant YG Entertainment have invested an undisclosed sum in an up-and-coming global digital live-streaming platform established by BTS backer Big Hit Entertainment and cloud video tech firm Kiswe, the companies announced Tuesday.
Source: Universal Music, YG Entertainment Invest in Big Hit Entertainment’s Live-Streaming Venture