Symphonic – which hired former SoundExchange higher-up Ali Lieberman as VP of product last month – intends to put the $37 million tranche towards accelerating “technology development,” increasing the size of its team, expanding into new markets, and executing “acquisitions across the music and technology sectors,” higher-ups said.
Source: Symphonic Distribution Completes 37M Series B as Distributor Valuation Growth Continues
The U.S. recorded music industry is projected to exceed a 48-year revenue record set in 1999, according to RAIN’s examination of reports from the RIAA. The historical revenue high point was set in 1999 at $14.6-billion in recorded music revenue.
BlockbusterDAO has just launched with the goal of buying the defunct video retail chain. “Our mission is to liberate Blockbuster,” declares a pinned tweet from the DAO’s official account (which already had to warn followers about impostors). The group aims to “turn Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products.”
Source: BlockbusterDAO Wants to Raise $5 Million in NFT Sales to Buy the Defunct Video Brand – Decrypt
In the wake of global box office roaring back with Sony/Marvel’s Spider-Man: No Way Home, studios executives would be financially foolish to put this year’s rich slate of event movies theatrical day-and-date on their streaming services. But as older adults remain slow to return to cinemas during the pandemic, the question becomes whether more of these types of movies, often Oscar-bait ones, will be released day-and-date or on a truncated theatrical window.
Brands like Muzak have made a big business out of building catalogues of licensed audio content for commercial venues — the infamous “elevator music” — and today a company that’s aiming to do the same for video has picked up a big round of funding as its business continues to see strong momentum, despite the many dampeners brought on public life from the Covid pandemic.
The worldwide consolidation of independent producers looks likely to continue in 2022 as the global streaming boom pushes up both demand and budgets for film and TV series. Around the world, independent television and film companies are linking up, or being bought out, as the streaming revolution transforms the business.
Source: Why Production Companies in 2022 Will Need to Get Big or Go Home
After months of negotiations, David Bowie’s estate has sold the singer’s formidable publishing catalog to Warner Chappell Music for a price upwards of $250 million, sources confirm to Variety. The catalog spans six decades and includes such songs as “Heroes,” “Changes,” “Space Oddity,” “Fame,” “Let’s Dance,” “Rebel Rebel,” “Golden Years,” “Ziggy Stardust,” “All the Young Dudes,” his 1981 collaboration with Queen “Under Pressure” and hundreds more.
Source: David Bowie’s Estate Sells His Publishing Catalog to Warner Chappell (EXCLUSIVE)
BMG and KKR have put their recently announced partnership to work, acquiring the “entire music interests” of long-running American rock band ZZ Top for a sum sources place at around $50 million. The agreement includes a buyout of the band’s publishing catalogue and their income from recorded royalties and performance royalties. Previously, BMG served as co-publisher and administrator of ZZ Top’s publishing catalog.
Source: ZZ Top Sells Catalog to BMG and KKR for Around $50 Million
Streaming services led by Netflix are helping to push total global content spend past $220 billion in 2021, up 14% year over year, according to Ampere Analysis. | Streaming services led by Netflix are helping to push total global content spend past $220 billion in 2021, up 14% year over year, according to Ampere Analysis.
Source: Streaming services help push content spending past $220B in 2021
If you’re confounded by the numerous stories floating around the web regarding the matter of musicians offering NFTs to fans, you’re not the only one. It turns out Brian Eno isn’t too thrilled about the new craze either. Speaking to The Crypto Syllabus, Eno has explained his belief that NFTs are merely a way for artists to become “little capitalist assholes”.
Source: Brian Eno weighs in on NFT craze: “Now artists can become capitalist a**holes as well”