This week, the AT&T/Time Warner era will officially come to a close. As Discovery combines with Warner Bros., it will mark an end to one of the most disastrous mergers in media history, perhaps second only to the AOL/Time Warner union in 2000.
Source: AT&T’s WarnerMedia Era Ends: How Culture Clashes, Massive Debt and Donald Trump Doomed the Merger
Since 2020, more than a few companies have fronted nosebleed sums for song rights, with wild multiples and billions thrown around. But now, following deals with some of the biggest names in music, the catalog sales boom could be cooling.
Source: Is the Catalog Sales Rush Ending? Reports Point to Possible Slowdown
Steven Soderbergh has long been unafraid to experiment with new technologies. So when he first talked to Roman Coppola about supporting emerging filmmakers through Coppola’s blockchain-based nonprofit Decentralized Pictures, Soderbergh was similarly eager to see for himself if blockchain’s promise of revolutionary problem-solving could extend into entertainment.
Volta is described as a “free, self-service XR creation platform” that allows creators to construct and broadcast “metaverse-reaching” immersive experiences. The company says that it allows live streaming artists to use any audio source to automate various visual effects in sync with their music in real time. Volta claims that this is the first ever initiative of its kind.
Source: Immersive live-streaming tech company Volta raises $3m from Deadmau5, Robb McDaniels and more
Perhaps the billion-dollar question is this: can artists that have gone viral — on TikTok or elsewhere — transition into becoming long-term superstar acts? Last month in Nashville during CRS, Big Machine Label Group chief Scott Borchetta offered a bleak assessment on a frenzy of TikTok signings. “Not any of those [TikTok artists] that got signed to big deals have worked,” Borchetta stated soberly.
Source: Is the Music Industry Wasting Money on TikTok and Viral Artists?
Sony spent approximately USD $911 million on music catalog acquisitions in the 10 months leading up to February, 2022. The stat was recently revealed by Sony Corp‘s Executive Deputy President and CFO, Hiroki Totoki, on an investor presentation. Somewhere around half of that $911 million figure would have gone on Sony’s double-acquisition of Bruce Springsteen’s publishing catalog and his recorded music catalog.
Source: Sony spent an average of $91m on music catalog acquisitions every month over the past 10 months
Amazon has closed its $8.5 billion acquisition of MGM, the company announced on Thursday. The completion of the transaction will see more than 4,000 films and 17,000 TV shows become a part of Prime Video, the online retailer’s streaming service.
Kobalt is going to continue to buy heritage copyrights amid the current music catalog gold-rush, it’s been revealed. Only this time, it’s not using outside-investor money… it’s using its own, including a hunk of debt. According to Bloomberg, Kobalt Music Group has successfully raised $550 million in debt financing from JPMorgan Chase & Co. and HPS Investment Partners.
Source: Kobalt just raised $550 million in debt to buy music catalog rights
Downtown Music Holdings has established a new multi-million dollar fund to support independent artists and entrepreneurial business owners. The fund will be supported by a new credit facility with Bank of America, and will see Downtown invest over $200 million.
Source: Downtown launches $200m fund to invest in independent artists and entrepreneurs
As any studio or streamer knows, spending guarantees nothing. The real trick is spending on what people want to watch while producing the volume necessary to keep them hooked. That’s a constant and evolving balancing act in its own right, but the more money means more attempts for success.
Source: From Disney to Peacock: Here’s What the Top 7 Streamers Will Spend on Content in 2022