The music streaming service made its stock market debut in its home country of France on the Euronext Paris this morning (Tuesday July 5), after combining its business with I2PO, a Special Purpose Acquisition Company (SPAC) based in France. The company’s public listing comes seven years after the plug was pulled on its previous attempt at an IPO.
Source: Deezer goes public: Spotify rival makes stock market debut on Euronext Paris
The company says the backing has come from a group of investors including Shiv Prakash (former VP of Investment, Hipgnosis Song Fund), Aligned Ventures, Kristina Tunkrans (former Chief of Music, Epidemic Sound), Marcus Konstantino (Partner, HDR Partners), Gustav Nordlindh (Founder and CEO at Royal Streaming), Kim Fai Kok and Dara Gill (Framtid).
The company has today (June 30) announced in a very short statement that it has “confidentially submitted” a draft S-1 filing with the SEC in the states “relating to the proposed public listing of [Triller’s] Class A common stock.” Other details are thin on the ground (hence the “confidential” submission), but Triller adds: “The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.”
Source: TikTok rival Triller files to go public on Nasdaq via ‘the largest creator IPO in history’
UMG has acquired Frank Zappa’s recordings, publishing catalog, film archive, and the complete contents of The Vault, the storage facility that houses the late Zappa’s life’s work. The acquisition also includes Frank Zappa’s name and likeness. With the acquisition, UMG says that its global catalog company Universal Music Enterprises (UMe) and Universal Music Publishing Group (UMPG) will now “build on the company’s already successful track record of working with the Zappa Trust to amplify Frank Zappa’s career”.
A tough first half of the year for U.S. media stocks has come to a merciless end. Stock sell-offs and analyst downgrades have been a regular feature of the year to date for media and entertainment giants. And Netflix’s surprise first-quarter subscriber decline has only raised questions about whether broader Hollywood’s streaming pivot will pay off over time.
Source: Many Hollywood Stocks Underperform Broader Market in First Half of Year
US-based physical goods distributor and wholesaler Alliance Entertainment is going to list on the New York Stock Exchange – via a merger with a SPAC (Special Purpose Acquisition Company). Alliance has signed a definitive business combination agreement with Adara Acquisition Corp for the flotation.
Source: Music distributor Alliance Entertainment is going public via $480m-valued SPAC merger
The deal includes IAG’s purchase of a controlling interest in Stills’ intellectual property, including his music publishing catalog of 1,000-plus songs from his stints in Buffalo Springfield; Crosby, Stills, Nash & Young (CSNY); Crosby, Stills & Nash (CSN); Manassas; The Rides and The Stills-Young Band, as well as his solo career.
Source: Stephen Stills Sells Catalog to Irving Azoff’s Iconic Artists Group in Expansive Deal
Warner Music Group has joined a strategic funding round for San Francisco-based Authentic Artists, a music platform that claims to power “metaverse-native virtual artists, digital collectibles and interactive music experiences”. Authentic Artists says that its music platform uses “cutting edge deep learning, game engine and blockchain technologies”.
According to Reservoir founder and CEO, Golnar Khosrowshahi, Reservoir’s upcoming pipeline of potential deals “remains robust”. Khosrowshahi added that her company expects to “deploy over $100 million in new capital in fiscal 2023 that will help us broaden and further diversify our portfolio”.
The National Music Publishers’ Association has claimed that the major labels took in a staggering 58.6 percent of 2021’s $9.8 billion in total streaming royalties – while continuing to tout its close ties with the Big Three, thereby raising renewed questions about the precise extent of their pull. This and other interesting datapoints came to light during NMPA head David Israelite’s recent speech in New York City, delivered as part of his organization’s annual meeting.
Source: Major Labels Took In 58.6% of Streaming Royalties In 2021, NMPA Says