Finance

Spotify overtakes Deezer’s subscriber base in France but Deezer still leads in payouts

According to data revealed in local trade body’s SNEP’s half-year report, Deezer paid out 37.5% of all money generated by streaming in France for the three major record labels in the first six months of 2019. (Total streaming revenues for the French record industry in this period stood at €138.1m.)

Source: Spotify overtakes Deezer’s subscriber base in France – but, says Deezer, SPOT can’t match its payouts

#BandTogether Musicians Reach Tentative Deal with Film and TV Studios

Negotiations between the American Federation of Musicians (AFM) and the studios lasted over two years, but while the former did receive significant improvements in their contract with the latter, their members still will not be getting residuals for TV shows and movies that are streamed online.

Source: #BandTogether Musicians Reach Tentative Deal with Film and TV Studios

Merck Mercuriadis’ Hipgnosis Songs Fund is already worth over $850m

The acquisitive company – which started trading on the London Stock Exchange (LSE) in July 2018 – is committed to undertaking a semi-annual valuation of its song portfolio, conducted by an independent valuer. According to that independent valuer, Hipgnosis’ unaudited Operative Net Asset Value (‘Operative NAV’) was 108.46 pence per Ordinary Share on September 30, 2019.

Source: Merck Mercuriadis’ Hipgnosis Songs Fund is already worth over $850m

Spotify faces lawsuit from indie music company claiming mistreatment

Sosa Entertainment claims that it has not been paid full royalties associated with over 550 million streams on Spotify. The tracks associated with these streams, says the company, were removed by SPOT in a process which began “in or about” May 2017, and were chopped from the service “without advance notice [and] without ever telling [Sosa and PMR] why their songs were removed”.

Source: Spotify faces lawsuit from indie music company claiming mistreatment

Indie Label Collective Impala to Oppose Tencent-Universal Music Deal

Impala, the European trade collective that represents both independent labels and publishers, announced today that it is “gearing up” to oppose Tencent’s buyout of a 10% stake of Universal Music Group, with an option to add a further 10%. The organization is also concerned about “who might buy the additional UMG stakes that are up for grabs.”

Source: Indie Label Collective Impala to Oppose Tencent-Universal Music Deal

PledgeMusic’s Former CEO, Primary Wave Deny Allegations of Financial Misconduct

The former CEO of PledgeMusic — the direct-to-fan music marketplace that filed for liquidation earlier this year, leaving thousands of musicians unpaid — has been accused of improper financial conduct by a member of the band Failure, one of the artists who are owed money by the company. The executive has denied the allegations and says he is exploring legal action.

Source: PledgeMusic’s Former CEO, Primary Wave Deny Allegations of Financial Misconduct

Mythical Games raises $19 million for blockchain-based games with ‘player-owned economies’

Los Angeles-based Mythical Games is using the decentralized digital ledger technology of blockchain to build games where players can be verified as owners of a piece of a game. The company calls these digital ecosystems built around player-owned economies. The company is developing its first game.

Source: Mythical Games raises $19 million for blockchain-based games with ‘player-owned economies’

Spotify Needs To Make A Decision About Its Future

According to its latest earnings report, Spotify made 90% of its revenue and 94% of its gross profit in Q3 2019 from paid subscriptions, with the minority remainder going to advertising. In fact, subscriptions are now taking up even larger pieces of Spotify’s revenue and gross-profit pies compared to the same quarter last year, suggesting that the company’s income sources are even less diversified than before.

Source: Spotify Needs To Make A Decision About Its Future, Based On Whether It Actually Believes Its Own Mission Statement

Elizabeth Warren Weighs In on Taylor Swift’s Dispute With Big Machine: ‘It’s Time to Rein In Private Equity Firms’

Democratic presidential candidate Elizabeth Warren has joined a number of public figures and celebrities taking to social media to comment on Taylor Swift’s battle with Scott Borchetta, head of Big Machine Label Group, and Scooter Braun, the company’s new owner.

Source: Elizabeth Warren Weighs In on Taylor Swift’s Dispute With Big Machine: ‘It’s Time to Rein In Private Equity Firms’

London Stock Exchange admits Hipgnosis Songs Fund to Premium Segment of Official List

The Merck Mercuriadis-founded company visited the LSE on Friday (November 15) with Nile Rogers – a board member the company’s investment adviser The Family (Music) Limited – to celebrate its admission to the Premium Segment, and its completion of four equity fundraises since its launch in June 2018.

Source: London Stock Exchange admits Hipgnosis Songs Fund to Premium Segment of Official List

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