Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.
This week, MBW revealed that BMG and investment giant KKR have jointly committed to spending over $1bn on music copyrights (for starters) via a new deal-hunting partnership.
Meanwhile, speaking of investment funds, Andre de Raaff‘s Netherlands-based CTM has formed a new venture with Dallas-based Outlander Fund with the ambition to invest $1 billion in copyrights over the next five years.
Elsewhere, Republic Records and parent company Universal Music Group have launched Universal Arabic Music in partnership with The Weeknd’s manager Wassim “SAL” Slaiby.
“The fact is, with more and more artists in control of their rights these days, the old music industry ways are no longer an option.”
BMG boss Hartwig Masuch would like to make it clear that his company’s new industry-shaking pact with investment giant KKR – under which both sides will co-own acquired assets – has much more going for it than its spending power.
Even so, after a sustained hiatus from buying music assets, BMG has its check-book out once again… and it’s ready to write down some colossal numbers.
Sources close to the BMG/KKR alliance tell MBW that both sides (BMG via Bertelsmann; KKR via, well, KKR) have initially committed circa $500 million each to their new deal-hunting partnership, with more cash to come when that’s been spent up.
When MBW catches up with Nat Zilkha, a partner at KKR, he confirms that BMG/KKR’s initial joint spending capacity “is measured in the $1 billion-plus category”, and that beyond this, “there’s no upper limit on the capital”…
Earlier this week, MBW revealed that BMG and investment giant KKR have jointly committed to spending over $1bn on music copyrights (for starters) via a new deal-hunting partnership.
Yesterday (April 8), another US-based investment firm unveiled plans to pour ten figures of fresh money into the music business, as Dallas-based Outlander Fund and Netherlands-based CTM BV announce a strategic alliance to acquire music publishing and master rights.
CTM Co-Founder and CEO André de Raaff is well known for having co-founded the successful music company Imagem, which launched in 2007 as a co-venture with Dutch pension fund APG. In June 2017, Imagem was bought by Concord Bicycle Music for circa $550 million.
Now, de Raaff’s new venture with Outlander, CTM Outlander Music LP, says that its ambition is to invest $1 billion in copyrights over the next five years….
Republic Records and parent company Universal Music Group (UMG) have launched Universal Arabic Music (UAM) in partnership with successful music manager and entrepreneur, Wassim “SAL” Slaiby.
UAM, which UMG says “will create new opportunities to advance Arabic music and culture with global partners, platforms and brands”, was unveiled this week by Sir Lucian Grainge, Chairman and CEO of UMG, Republic Records Founder and CEO Monte Lipman and Wassim “SAL” Slaiby, Founder and CEO of SALXCO and XO RECORDS.
Slaiby will serve as Founder and CEO of Universal Arabic Music, effective immediately….
Following Wednesday’s news that widely respected Warner Music Group veteran Eliah Seton was exiting his role at the major, industry sources told MBW that he was about to join SoundCloud in a senior position.
Now it’s official: SoundCloud has confirmed that Seton has been hired as President of SoundCloud, effective May 1, 2021.
He will report directly to Michael Weissman, Chief Executive Officer, SoundCloud.
In this new role, New York-based Seton will manage SoundCloud’s business strategy, oversee content partnerships and business development, lead mergers and acquisitions, and be responsible for the company’s distribution and artist services businesses, Repost by SoundCloud and Repost Select…
Australia’s Mushroom Group has announced that Matt Gudinski will assume the role of CEO of the Mushroom Group, effective immediately.
Matt moves into the role following the sudden passing of his father, Michael Gudinski, on March 2 this year.
Matt most recently held the role of Executive Director, Mushroom Group from 2013.
In the eight years following, Matt and Michael worked side by side at the helm of Australia’s most powerful independent entertainment group, overseeing over 250 employees and two dozen companies…
