US-based music and media company Create Music Group has acquired Mumbai-based Nirvana Digital, described as one of the largest YouTube Enterprise partners in India. While terms of the deal were not disclosed, Create says that this is the first of a planned $50 million investment the company is making in India and the broader region in Asia over the next several years.
Source: Create Music Group acquires India-based distribution and rights management firm Nirvana Digital
Splash, which arrived on the scene as PopGun in 2017 and launched on Roblox last year, is “developing new ways for people to create, perform and interact with live performances using AI-powered tools and video games,” the company said. Splash enables players to create music, stages, venues, and perform live, with north of 128 million plays to its credit thus far.
Source: Roblox Music-Tech Company Splash Announces $20 Million Series A
The Justice Department has filed an anti-trust lawsuit against to block ViacomCBS’ sale of publisher Simon & Schuster to Penguin Random House, asserting that it would give the enlarged company too much power over the book business.
Source: Justice Department Sues to Block ViacomCBS’ Sale of Simon & Schuster to Penguin Random House
According to John Wolpert, co-founder of TreeTrunk.io and Group Executive of Enterprise Mainnet at Consensys Mesh, the NFT community must find more permanent ways for all artists – not just the famous ones – to make more money. Given this, Wolpert believes in a structure based on a multilevel-marketing approach that will ensure a constant stream of revenue for NFT artists globally.
Source: Beyond the NFT hype: Creating lasting business models for artists
In separate motions filed last month, Amazon and the Big Five publishers argued that a lawsuit accusing them of a conspiracy to fix e-book prices was “illogical” and should be dismissed. But in a lengthy opposition brief filed this week, lawyers for a potential consumer class portrayed their case as the second act of the Apple e-books case, and insisted there is more than enough evidence for the case to proceed.
Source: Lawyers Argue that E-book Price-Fixing Case Against Amazon, Big Five Publishers Should Proceed
According to the Financial Times, the estate of David Bowie is negotiating the sale of the legendary artist’s songwriting catalog. Citing ‘people familiar with the matter’, the FT reports further that negotiations ‘are at an advanced stage’ and that the catalog has ‘attracted bids of around $200 million’.
Source: David Bowie estate in talks to sell catalog for $200m (report)
Utopia, with offices in Zug, London, Helsinki and Stockholm, says it’s on a mission to revolutionize the monitoring of music consumption – and consequent royalty payments to rights-holders – worldwide. The company claims to be building a technology platform that “brings a completely new approach to serving all music industry needs and to enable accounting, transparency and efficiency, repairing the fragmented industry along the way”.
Source: Utopia Music acquires Lyric Financial, expands into the US
Endeavor, run by super-agent Ari Emanuel, is selling 80% of its studio division as part of an agreement with the Writers Guild of America that forced agencies to sell majority stakes in their content divisions. Earlier this year, CAA sold a majority stake in Wiip, the producer of HBO’s “Mare of Easttown,” to Korean company JTBC Studios.
In the US and UK media sectors, news publishers including News Corp, the New York Times, Reach and Gannett were among the worst hit by the pandemic. Just over 18 months on, and Press Gazette analysis today shows how Britain and America’s largest listed consumer publishers have staged a full comeback on the stock market – and are now worth more than they were at the end of 2019.
Source: Media company share prices: News giants recover from Covid-19 slumps
Universal Music Group reported double-digit revenue growth in Q3 2021, enjoying major boosts in publishing, streaming, and physical sales. Predictably, and in keeping with UMG’s Q1 and Q2 2021 income breakdowns – as well as those of Warner Music, Sony Music, and the broader music industry – “subscription and streaming” accounted for the lion’s share of revenue, at €1.13 billion ($1.32 billion at the present exchange rate).
Source: Universal Music Group Reports Double-Digit Revenue Growth In Q3 2021