From Universal Music and YouTube’s AI collaboration to BMI’s equity sale … it’s MBW’s Weekly Round-up
Invite to Music Business Worldwide [292 articles]href=”https://www.musicbusinessworldwide.com/companies/music-business-worldwide-2/”> Music Business Worldwide’s weekly round-up– where we ensure you captured the 5 greatest stories to strike our headings over the previous 7 days. MBW’s round-up is supported by Centtripwhich assists over 500 of the world’s very popular artists increase their earnings and minimize their touring expenses.
Some more of ’em abundant guys north of Richmond are headed for the music market.
That’s what business has actually been whispering in MBW’s ear today, anyhow– with strong reports that NYC-based personal equity company, New Mountain Capitalremains in innovative speak with possibly obtain the (now for-profit) Broadcast Music, Inc (BMI) [278 articles]href=”https://www.musicbusinessworldwide.com/companies/broadcast-music-inc-bmi/”> BMI (Broadcast Music Rights Inc)
New Mountain Capital presently has more than $40 billion in possessions under management, consisting of a financial investment in Citrin Cooperman, house to the group formerly called Massarsky Consulting– a leading valuer of music rights.
Somewhere else today, YouTube [1,580 articles]href=”https://www.musicbusinessworldwide.com/companies/youtube/”> YouTube and Universal Music Group collectively revealed that they’re collaborating to develop AI tools for the music market that do not screw over artists and rightsholders.
Plus, 2 recognized entrepreneurs/investors in the modern-day music biz– SONGS creator Matt Pincusplus Kobalt Music Group [653 articles]href=”https://www.musicbusinessworldwide.com/companies/kobalt-music-group/”> Kobalt creator Willard Ahdritz — both signed up with a $65 million financial investment round into live music biz disruptor, DICE [28 articles]href=”https://www.musicbusinessworldwide.com/companies/dice/”> DICE.
All of this and more pinged around the pages of MBW today. Here are our 5 most significant stories of the previous 5 days …
1) YOUTUBE AND UNIVERSAL MUSIC GROUP PARTNER TO DEVELOP AI MUSIC TOOLS– COMPLETE WITH ‘PROTECTIONS’ FOR ARTISTS AND RIGHTSHOLDERS
Are you stressed over the sort of generative AI tools that Alphabet/ Google [807 articles]href=”https://www.musicbusinessworldwide.com/companies/google/”> Google/YouTube might be able to produce in the years ahead?
Do you fear a future where a bazillion tracks from ‘phony Drakes’, constructed on Google innovation, are submitted to streaming services daily– with no payment going to the musicians/music rightsholders whose work ‘motivated’ this AI output?
If so, Monday (August 21) brought some news that may simply provide you a more peaceful night’s sleep: YouTube and Universal Music Group [3,124 articles]href=”https://www.musicbusinessworldwide.com/companies/universal-music-group/”> Universal Music Group have actually formed an alliance that they state will collectively establish AI tools that use “safe, accountable and lucrative” chances to music rightsholders.
Other music market gamers are being welcomed to get included.
2) SONGWRITERS ARE WORRIED ABOUT BMI’S PRIVATE EQUITY SALE– AND IF IT WILL HURT THEIR ROYALTIES. WHAT HAPPENS NOW?
The on-again, off-again sale of US-headquartered carrying out rights company BMI seems on once again, and this time around, songwriters are asking pointed concerns about what BMI’s sale might indicate for their royalties.
BMI, among the 2 primary music rights collection companies in the United States, has actually put itself up for sale for the 2nd time in less than a year, and simply 10 months after it revealed it was changing from running as a non-profit to being a for-profit company.
MBW has actually heard reports from senior music biz figures that BMI has actually checked out talks with a variety of possible backers/suitors, with the current name on the lips of business being New Mountain Capital, an NYC-headquartered personal equity company with aggregate properties under management of over USD $40 billion.
One senior music publishing source informed MBW that New Mountain Capital had actually just recently started a due diligence procedure on BMI. (MBW has actually called spokespeople for both NMC and BMI for remark.)
Sources recommend that New Mountain and BMI have actually concurred a deal in concept for the previous business to get the latter for around USD $1.7 billion. Other sources recommend, nevertheless, it’s not yet a done offer.
3) DICE RAISES $65M FROM INVESTORS INCLUDING MATT PINCUS, WILLARD AHDRITZ AND MORE
UK-born mobile ticketing platform DICE has actually raised $65 million in a brand-new financing round led by MUSIC, the investment firm co-founded by Matt Pincus and LionTree.
Pincus, MUSIC’s CEO, will likewise sign up with the DICE Board of Directors.
Other financiers in this brand-new financing round consist of Structural Capital and Ahdritz Holding LLC, the financial investment automobile for Willard Ahdritz, creator and chairman of Kobalt Music; with follow on financial investments from Exor Ventures and Mirabaud Lifestyle Fund.
4) ASHLEY GORLEY’S TAPE ROOM MUSIC TO SELL OVER 350 SONGS TO RED LIGHT VENTURES AND FIREBIRD MUSIC UNDER NEW PARTNERSHIP
Nashville-based Tape Room Music will offer “over 350 made use of tunes” from its brochure to Red Light Ventures and Firebird Music as part of a brand-new tactical collaboration.
Tape Room Music, a publishing and artist advancement business, was developed by songwriter Ashley Gorley.
The tunes consist of Sam Hunt’s Body Like A Backroad, Luke Bryan’s Sunrise, Sunburn, Sunset, Do I Make Ya Wan na by Billy Currington, Lee Brice’s One Of Them Girls, Thinking ‘Bout You by Dustin Lynch and MacKenzie Porter, and more.
5) ANGHAMI WELCOMES $5M INVESTMENT FROM SRMG VENTURES
In November in 2015, reports started reporting that MENA-based streaming service Anghami [71 articles]href=”https://www.musicbusinessworldwide.com/companies/anghami/”> Anghami might possibly be gotten by Spotify [3,375 articles]href=”https://www.musicbusinessworldwide.com/companies/spotify/”> Spotify.
That concept never ever came true. In the exact same month, Anghami decreased its worldwide headcount by 22% due to the “effect of difficult macroeconomic conditions”.
Today brought another chapter in Anghami’s continuous story– with an effective brand-new financier coming on board at the business.
SRMG Ventures has actually made its 3rd financial investment with a USD $5 million financial investment in Anghami.
MBW’s Weekly Round-Up is supported by Centtrip, which assists over 500 of the world’s very popular artists increase their earnings and minimize their touring expenses.
Music Business Worldwide