News-Wire.com » Free Press Releases » From BTS’ new label partner to Kobalt’s $1.1bn catalog sale to KKR: It’s MBW’s Weekly Round-up
From BTS’ new label partner to Kobalt’s $1.1bn catalog sale to KKR: It’s MBW’s Weekly Round-up
Welcome to Music Business Worldwide [157 articles]”>Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.
The catalog contains over 62,000 copyrights across multiple genres, and KKR [47 articles]”>KKR is teaming with co-investment partner Dundee Partners – the investment office of the Hendel family – for the transaction, which has been completed by Chord Music Partners, a platform established by KKR and Dundee.
That wasn’t the only billion dollar story to hit our headlines this week.
It might not be all smooth sailing in major label land in the coming months, though.
That’s because over in the UK, the Competition and Markets Authority (CMA) is launching a new study into music streaming, following the UK government’s response to a major label-bashing report from an inquiry about the economics of streaming in the country.
Within that report, it was recommended that the CMA should conduct a new market study into streaming, and the power of the major record companies.
On Tuesday (October 19), Andrea Coscelli, Chief Executive of the CMA, announced that it would be doing just that.
Kobalt Music Group [530 articles]”>Kobalt Capital confirmed on Tuesday (October 19) that investment giant KKR has acquired the KMR Music Royalties II portfolio for approximately $1.1 billion.
KKR is teaming with co-investment partner Dundee Partners – the investment office of the Hendel family – to acquire the catalog, which contains over 62,000 copyrights across multiple genres.
The transaction has been completed by Chord Music Partners, a platform established by KKR with Dundee Partners….
Yesterday (October 21), Warner Music Group finished the trading day with a share price of $48.06, the highest point since WMG floated a portion of its company on the NASDAQ in June 2020.
According to yCharts, WMG’s share price yesterday translated to an Enterprise Value (EV) for WMG of $27.66 billion…
The surge in Warner’s value since Universal floated in Amsterdam has been something to behold, with WMG’s EV growing by a full $4 billion in the past month alone (see above).
In the past 12 months, Warner’s EV has shot up by over $10 billion, accelerated by Universal Music Group’s own floatation (and Warner’s comparative valuation vs. UMG).
The UK’s Competition and Markets Authority (CMA) has announced its firm intention to move ahead with a market study into music streaming.
The CMA defines its market studies as a “key tool to identify – and, if appropriate, to consider how best to tackle – any competition and consumer issues”.
It says that these studies can lead to a number of outcomes, including: (i) making recommendations to the UK government to change regulations or public policy; (ii) encouraging businesses in the market to self-regulate; (iii) taking consumer or competition law enforcement action against firms; (iv) making a reference for a more in-depth (“phase 2”) market investigation; or (v) giving a “clean bill of health”.
Obviously enough, the majors (and others) in the music industry will be particularly keen on avoiding (iii) and (iv)….
K-pop superstars BTS have signed a new deal with Universal Music Group/Interscope for distribution and marketing in the United States and other regions.
The new deal means that the band, signed to HYBE-owned label BigHit Music in Korea, are exiting their deal with Sony Music’s Columbia Records and distribution partner The Orchard [172 articles]”>The Orchard.
In an official statement provided to MBW today (October 22), a HYBE spokesperson said that the deal forms part of a “continued effort to expand the strategic partnership” with Universal Music Group, which was announced in February….
Colorado-based media and entertainment company Liberty Media has sold off its entire stake in US radio giant iHeartMedia.
An SEC filing from publicly-traded iHeart reveals that Liberty sold 5,941,248 class A shares on October 5 at $25.25 per share.
Founded by Chairman John Malone in 1991 and led by CEO & President Greg Maffei since 2006, Liberty still owns a 33% stake in Live Nation [373 articles]”>Live Nation Entertainment…..
In March this year, the UK Government Department for Business, Energy and Industrial Strategy, published an Industrial Decarbonisation Strategy. Of the approximately 370 megatonnes (Mt) CO2e (‘e’ is a suffix indicating CO2 equivalence) produced by the UK, about 70 Mt CO2e ( about one fifth) is a result of industrial activity. By 2030 these emissions…
A woman walks past an Apple logo in front of an Apple store in Saint-Herblain near Nantes, France, on Sept. 16, 2021. (Stephane Mahe/Reuters) SAN FRANCISCO—Apple’s global battery development chief, Ahn Soonho, has moved to Volkswagen to lead the automaker’s development of electric vehicle batteries, according to his Linkedin profile. This is the second time…
Michael Gove is chairing a new weekly cabinet committee on levelling up, to bang heads together across Whitehall, as the government battles to repair the political damage of the past three weeks and show it is serious about tackling economic inequalities.After a tumultuous period that culminated in the prime minister’s fumbled speech to the CBI…
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After its launch in 2009, Bitcoin ushered in a new era of blockchain technology and digital currencies. Given all the talk about Bitcoin, you’d think it would be everywhere. Is that really true? How much is Bitcoin worth? Perhaps more importantly, how much of the world’s money is in bitcoins? With the price of BTC…
