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.
last week, TikTok The shutdown of subscription music streaming services made headlines.
This week, the ByteDance-owned app made headlines when it broke off relicensing talks with indie representative Merlin.
Other big news this week: pink floyd It agreed to sell its catalog of recorded music to Sony Music in a deal worth approx. 400 million dollarsAccording to sources.
Meanwhile, in Los Angeles, talent giant Creative Artists Agency (CAA) filed a lawsuit against the agency. various media partners, They accused the company of ‘stealing’ confidential information and being an ‘unlicensed entertainment agency.’
Elsewhere this week we reported that Sony Music GSA has undergone a major restructuring under a new CEO. Christoph Bemwhile Spotify We are starting to notify our Canadian subscribers that prices are rising in the market.
Here’s what happened this week…
Credit: Shutterstock
1) TIKTOK: Stopped negotiations with Merlin due to concerns about streaming fraud.
It’s true: MBW confirmed that TikTok recently broke off sublicensing discussions with Merlin, even though the indie group’s current deal with the ByteDance platform expires on October 31.
Instead of agreeing to a blanket deal with Merlin, TikTok will invite individual Merlin members to negotiate licensing agreements directly with the team.
Merlin Members claim to represent 15% Worldwide recorded music consumption by market share. So why is that so? TikTok Are you telling me to step away from the negotiating table?
The reason is somewhat shocking. As the industry conversation about streaming scams grows louder, TikTok The legitimacy of music being delivered on certain platforms has been questioned. Merlin member.
2) Sony signs agreement to acquire Pink Floyd catalog for $400 million
The transaction is complete. Pink Floyd agreed this week to sell its recorded music catalog to Sony Music in a deal worth about $400 million, according to sources.
The deal is understood to include Floyd’s recording catalog, as well as neighboring and ‘name and likeness’ rights. Publishing rights are not included.
The news was first reported by the Financial Times on Tuesday (October 1).
Photo credit: Daniel J. Macy/Shutterstock
3) TALENT GIANT CAA sued various media partners for allegedly stealing confidential information.
A blockbuster legal dispute is taking place in Hollywood.
Talent giant Creative Artists Agency (CAA) filed a lawsuit this week against management company Range Media Partners, accusing it of “stealing confidential information” ahead of the company’s launch in 2020.
The lawsuit, filed Monday (September 30) in Los Angeles Superior Court, states that Range is “an unlicensed entertainment agency built on deception…. “It is claimed.
4) SONY MUSIC GSA restructuring under new CEO CHRISTOPH BEHM
Sony Music GSA recently experienced a leadership shake-up when the company’s former president, Patrick Mushatsi-Kareba, left the business and was replaced by Christoph Behm.
Now, just a month into his new role, Behm has made major changes to the business. This allowed Sony Music’s GSA label to join the Ariola Label Group, Columbia Label Group, and RCA Label Group.
Additionally, Sony Music GSA will now be overseen by a newly formed GSA management team.
Source: TT News Agency / Alamy
5) SPOTIFY raises prices in Canada amid debate over proposed streaming tax
Spotify has notified Canadian customers that it will be increasing subscription prices in its markets.
The news comes amid a debate in the market over proposed taxes on the domestic revenue of non-Canadian streaming companies.
Last June, Canada’s communications regulator, the CRTC, announced that starting this fall, non-Canadian streaming services will have to pay a 5% tax on their Canadian revenue, which will be put into various funds supporting Canadian music creators. And the broadcasting company…
