From Ed Sheeran’s copyright appeal victory to the asset-backed securities boom… This is MBW’s weekly recap.

Welcome to Music Business Worldwide’s weekly digest. Here are five top 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.

boom Music asset-backed securities Here’s some news that caught our attention this week: agreement The music company closed its latest ABS deal that saw a raise. $850 million.

We also learned this week: duet high 80 million dollars Through the ABS transaction, which the company describes as the first securitization based on indie music rights.

When it comes to investing in music, the new Kroll Bond Rating Agency The report assessed the value Hipgnosis Song Fund catalog $2.36 billionapproximately 150 million dollars than HSF’s corporate value. black stone Acquired it.

It’s been a busy week elsewhere in the industry. universal music groupIt reported its third quarter results on Thursday. US$3.15 billionconsolation 4.9% compared to the previous year announced EVP, CFO and President of Operations (at certain calls). boyd muir Promoted to the newly created position of Chief Operating Officer (COO).

UMG also announces strategic partnership with AI music startup clayand its virgin music group The division grew rapidly through another large international acquisition. industryArtist and record label services and rights management business focused on China and India.

finally, Reuters report The U.S. Court of Appeals ruled on Friday, November 1, that Ed Sheeran’s hit single think out loud No illegal copying of Marvin Gaye’s work. Let’s get started, Upholding a lower court judge’s preliminary dismissal of plaintiff’s structured asset sale lawsuit.

Here’s what happened this week…

1) The HIPGNOSIS Songs fund catalog was just valued at $2.36 billion. This is approximately $150 million more than HSF’s enterprise value when BLACKSTONE acquired it.

Last July, a large investment company black stone acquisition Hipgnosis Song Fundassets obtained from HSF’s then-current public shareholders that have transaction value; $1.584 billion.

According to MBWAccording to its analysis, the transaction would add to HSF’s portfolio, given HSF’s debt. 45,000 Approximate corporate value of the song US$2.2 billion.

Same portfolio (originally amassed between 2018 and 2021 by my former boss at Hipgnosis) Merck MercuriadisThe price has been reassessed following a new report from ). Kroll Bond Rating Agency.

And guess what? Not only does this suggest a significant increase in the value of the songs Mercuriadis acquired from HSF, but it also means that Blackstone received a small discount when he purchased them.

2) CONCORD closes $850 million asset-backed securities transaction to ‘catalyze strategic growth and acquisitions’

agreement The asset-backed securities (ABS) transaction was successfully completed. $850 million Debt is raised through private securitization based on a list of music rights.

The company said on Monday (October 28) that the deal “will fuel strategic growth and acquisitions.”[s]” and highlights “our ongoing efforts to strategically grow and monetize our music assets and position the company as a significant force in the music industry.”

Concord’s ABS transactions are securitized as royalties from its catalog. 1 million Related assets, including compositions, master recordings, and recorded works the beatles, carrie underwood, cheap tricks, creed, Genesis, kiss, Mike + The Mechanics, otis redding, phil collins, plain white t, rem, REO Speed ​​Wagonand rolling stones…

3) Universal Music generated $3.15 billion in the third quarter. Subscription streaming revenue increased 8.2% year over year.

universal music group Financial performance for the three months until the end of September was announced.

Headline numbers from the world’s largest music rights company’s third quarter results: UMG generated revenue: EUR 2.87 billion (US$3.15 billion) for the quarter across all segments (including music, publishing, etc.). Third quarter sales figures increased 4.9% compared to the previous year With a certain currency.

Among UMG’s other Q3 highlights: 8.2% compared to the previous year The company’s subscription streaming revenue soars.

In the company’s quarterly earnings report, the Chairman and CEO said: Sir Lucian Grange announced. boyd muirUMG’s EVP, CFO and President of Operations have been promoted to the newly created role of Chief Operating Officer (COO).

4) UNIVERSAL’s VIRGIN MUSIC GROUP expands its presence in China and India through industrial acquisitions.

virgin music group, universal music grouphas reacquired its global independent artist and label services division.

This time VMG swooped in. industryIt’s an artist and label services and rights management business focused on China, India and other “high-potential markets.”

The deal marks the latest global M&A move following Universal’s acquisition of Virgin Music Group. Saban Music Latin In January.

As part of this transaction, Outdustry founders Ed Peto He has been appointed Senior Vice President of International Strategy for Virgin Music Group, while continuing to serve as CEO of Outdustry.

5) ED SHEERAN wins copyright appeal for ‘Thinking Out Loud’

like reported by ReutersA U.S. appeals court ruled Friday, November 1, that Ed Sheeran’s hit single Thinking Out Loud was not a pirated copy of Marvin Gaye’s song. Let’s get started, Upholding a lower court judge’s preliminary dismissal of plaintiff’s structured asset sale lawsuit.

In May 2023, U.S. District Judge Louis Stanton dismissed the case brought by Structured Asset Sales LLC, overturning his original ruling that the suit was eligible to be heard by a jury.

Judge Louis Stanton is the same judge who presided over a separate case involving the same track for Sheeran and Gaye. In that case, the jury found in Sheeran’s favor over the estate of Marvin Gaye’s co-writer Ed Townsend. Let’s get started.

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