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.
Create a music group It’s been a company to watch for a few years now, even more so after a funding round earlier this year that gave it unicorn status (at a $1 billion valuation). Create an ongoing streak of acquisitions and investments this week. 50% A stake in Enhanced, a London-based EDM label and publisher.
Also this week, MBW reported: sony music The entire catalog has been pulled from African-focused streaming service Boomplay, including music distributed by The Orchard and AWAL. Other rights holders also appear to be concerned about delays in royalties payments from the platform.
Meanwhile, a confrontation with the United States is taking place. TikTok It continued this week, with the social media platform filing an emergency motion to delay the January 19 deadline for the app to be sold off by Chinese parent company ByteDance. In response to the application, the government urged the court to dismiss TikTok’s application.
Also this week, MBW published an interview with the founder and CEO of UnitedMasters. steve Stout, Following last week’s news Katamanreleased independently through UnitedMasters, was the most popular track globally on TikTok this year. Half of the top 10 biggest tracks globally on TikTok in 2024 were handled by independent (i.e. non-major) distribution, and four of the five biggest tracks on the platform this year were independently distributed.
Lastly, MBW founder Tim Ingham Find out about Drake’s legal action against Universal Music Group (UMG) over Kendrick Lamar’s diss track. Not like us.
Here’s what happened this week…
Photo: Lucy Moir/Enhanced
1) CREATE MUSIC GROUP, worth $1 billion, acquires a 50% stake in British record label and publisher Enhanced
The California-based company has had a busy year this year. Create a music group.
One location was closed in June. US$165 million Investment round led by private equity funds flexpoint podThe value of creation is: 1 billion dollars.
Shortly thereafter, they announced the acquisition of a label and publishing company based in Manchester, England. stereo.
Now the company is making another investment in a British label and publishing company. 50% London headquarters share improved…
2) Sony Music pulls catalog from African-focused music streaming service BOOMPLAY
It has long been known as one of the most exciting music streaming platforms in Africa. 98 million As of the end of 2023, the number of monthly active users is showing a steep growth trajectory.
But now boom playRelations with music’s leading global rights holders appear precarious.
MBW confirmed that sony music This week we pulled our entire catalog from the service, including titles distributed by: orchard and AWAL.
Meanwhile, the source said MBW There are growing concerns from other rights holders about delays in royalties payments from the platform…
Credit: Ascannio/Shutterstock
3) The U.S. government has asked the court to deny TIKTOK’s application to delay legislation that could have banned the app from the market.
The U.S. government has asked a court to deny TikTok’s emergency request to delay legislation that could ban the app in the U.S. unless TikTok’s China-based owner sells the platform by January 19.
A federal appeals court on Friday (December 6) dismissed TikTok’s lawsuit challenging the law. TikTok said it would appeal the decision to the Supreme Court.
On Monday (December 9), TikTok and its parent company ByteDance filed a motion for a temporary restraining order to delay the law, arguing that “the Supreme Court, as the only court with appellate jurisdiction over this lawsuit, should have the opportunity to decide.” An emergency application has been submitted. Whether or not to review this very important case…
4) Steve Stoute talks about how independent, emerging markets, and UnitedMasters artist FloyyMenor scored TikTok’s biggest song of 2024.
Indie distributions eating into major streaming market share are one of the biggest conversation starters in the modern industry.
The success of FloyyMenor and Cris Mj’s Gata Only is a prime example of how the balance of power is shifting.
TikTok has confirmed that the Chilean viral hit, released last week through independent distributor UnitedMasters, is the most popular track globally on its platform this year… (MBW)
5) ON… Drake, disgust, discovery mode.
Photo: Sam Kovac/Alamy
Well, I venomous.
7 years ago, I uploaded my musical masterpiece, pinky shadesOn streaming sites.
you probably pinky shades It was just a cheap journalistic stunt. tools for worldwide music business To prove how simple it is Buy Stream to Spotify.
If so, it would be a shame. pinky shades Actually it was mine Bohemian Rhapsody.
Other than that 10,000 streams I bought it (easy!) and Spotify users completely ignored it.
