Welcome to Music Business Worldwide’s weekly digest. Here are the five biggest stories that made headlines over the past seven days. Rounding in MBW is supported in: cent tripHelping over 500 of the world’s best-selling artists maximize their earnings and reduce travel costs.
Beef in the meantime drake and kendrick lamar Things got serious this week when Drake filed several legal petitions. universal music group and Spotify Artificially inflating Lamar’s hits different from us Through “bots” and “payola”. UMG flatly denied these claims.
Surprisingly, that wasn’t even the most dramatic artist-label dispute of the week. At a press conference hurriedly held by the K-pop group in Seoul, new jeans announced that he was leaving the agency, hive-possession Ador. HYBE responded that NewJeans had no grounds to leave and that the contract was still “fully valid.”
HYBE Elsewhere in the world, shareholders and the board of directors of a South Korean entertainment giant have approved HYBE’s appointment. Sinseonjeong To the president of the forefront label Big Hit Musichouse BTS and Tomorrow × Together.
And elsewhere in the promotional world, warner music group announced. Dan Rosenpresident Warner Music AustraliaHe will now lead the region’s publishing division. Warner ChapelConsolidates recording and publishing business units under a single leader.
finally, MBW By examining regulatory filings, we discovered key executives. Spotify I spent my money around $1.1 billion The value of the company’s stock this year is: $283 million CEO sells Daniel Eck Alone.
Here’s what happened this week…
1) DRAKE filed another legal petition, different from ours. KENDRICK LAMAR accuses Universal of ‘improper business practices’ including ‘PAYOLA’ scheme to turn diss track into mega hit. Read the full document.
Jacob Giampa/Shutterstock
This is turning into a huge debate.
On Monday (November 25th) drakethrough his company Frozen Moments LLCFile a legal petition in New York universal music group and Spotify Artificially inflating streaming numbers for Kendrick Lamar’s mega hits. different from us – This is a diss track about Drake.
UMG responded: “The suggestion that UMG would do anything to undermine its artists is offensive and untrue. We adopt the highest ethical practices in our marketing and promotional campaigns. “No amount of artificial or absurd legal claims in this preliminary work submission can obscure the fact that fans choose the music they want to hear.”
Drake’s attorney also filed a lawsuit. second On Monday, a legal petition against UMG was filed, this time in Texas…
2) NEWJEANS just held a press conference and announced that they have left HYBE’s love… But the K-pop giant says their deal is still ‘in full effect’.
Provided by ADOR
If you thought so drakelegal action against universal music group This was the artist vs. record label debate of the week, but think again.
The future of Korea hiveproprietary label Ador After the K-pop girl group, we were engulfed in uncertainty. new jeansThe agency announced on Thursday, November 28 that it would terminate its contract with ADOR.
However, ADOR said that there was no basis for New Jeans to terminate the exclusive contract and that “take full effect.”
At a hastily announced press conference on Thursday evening (November 28), group members said: hani ADOR said it was “neither able nor willing” to protect NewJeans…
3) Key SPOTIFY executives cashed out more than $1 billion in inventory this year. This also includes $283 million from DANIEL EK.
Sipa USA/Alamy
Spotify Co-founder and CEO Daniel Eck We did it again!
According to a recent filing with the Securities and Exchange Commission (SEC), Ek sold 75,000 shares of Spotify stock for USD on Wednesday, November 20th. $34.8 millionAnd it holds an additional 75,000 shares. $36.1 million November 26th.
As of 2024, Ek has held a total of 875,000 shares of Spotify stock, according to SEC filings. $283 millionAnd the company’s executives and former executives took down huge sums. $1.1 billion The value of Spotify stock since the beginning of this year.
That’s almost the same amount of money. $1.16 billion Spotify pays warner music group For 12 months until the end of September…
4) Seon Seon-shin promoted to president of Hive Big Hit Music, the label home of BTS and Tomorrow by Together
Provided by Big Hit/HYBE
A huge entertainment company based in Korea hive Announced major leadership changes. Big Hit Musicdenomination Shin Seon-jeong As the label’s new president.
BIGHIT MUSIC is HYBE’s flagship record label (HYBE’s former name was Big Hit Entertainment) and home to K-Pop superstars. BTS and Tomorrow × Together.
Seon Seon-shin previously served as the label’s general manager (GM). This executive’s promotion was approved through a general shareholders’ meeting and board of directors’ resolution on November 26.
Officer replaces. Youngjae ShinServing as CEO of Big Hit Music since 2020…
5) DAN ROSEN APPOINTS PRESIDENT OF AUSTRALIAN RECORDING AND PUBLISHING, WARNER MUSIC GROUP
warner music group announced that Dan Rosencurrent chairman Warner Music AustraliaIt is planned to expand its role. warner chapel music.
The move unites the leadership of recorded music and publishing businesses across Australia and New Zealand.
Rosen will report to both. Guy MuttCo-Chairman and CEO of Warner Chappell Music Simon RobsonHe is President of EMEA, Recorded Music, WMG and currently also oversees the recorded music business in APAC.
WMG said the move underlines WMG’s commitment to creating “a new, inclusive home for Australia’s artists and songwriters while retaining each division’s unique identity”.
