RG Ingersoll's Hotrax Music Tips and Services - Sad News: Bobby Caldwell, Singer of ‘What You Won’t Do For Love,’ Passes Away Aged 71

 

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The Daily Snapshot. March 16th, 2023 Your Source for the Latest Music Industry News and Developments

Snapshot Sponsors The most advanced digital rights management and global sync opportunities for catalogs.   Real-world public performance data, at scale. We are revolutionising through accuracy.   Catalogs, playlists, contacts, contracts, accounting, analytics: all your business in one place. Try Reprtoir for free today!   Exactuals, your end-to-end royalty solution. Metadata. Calculations. Payments.   We make it easy for artists to press vinyl, so fans can keep pieces of the music they love. Schedule a demo with us here.   Forget the middle man! Fair and transparent ticketing is here! Easy to use features to increase your earnings and simplify your workflow.   Music Made Easy.   Viberate: Get premium music data analytics at an unbeatable price.   Chartmetric Artist Plan FREE for 6 months, then just $10/mo! Unlock your data to grow your audience across social and streaming channels.   Connecting record labels, promoters, and artists to radio programmers, curators, media, music supervisors, and more - on a global scale.   David Libert shares tales from the Inner circle of the music industry. A witty exploration into a career in music that spans over 50-years.   How much are you losing to adblock? Digital Music News readers get free adblock analytics & more at getadmiral.com.   Universal Music Group and Deezer Officially Confirm Artist-Centric Streaming Collaboration: ‘Music Is Extremely Undervalued Today’ About two weeks ago, during his company’s Q4 2022 earnings call, Universal Music Group (UMG) head Lucian Grainge disclosed a streaming-reform partnership with Deezer. Now, the major label and the Access Industries-owned platform have formally announced their tie-up. The Story Continues Here. Sponsor   Bobby Caldwell, Singer of ‘What You Won’t Do For Love,’ Passes Away Aged 71 Bobby Caldwell, singer-songwriter of the 1978 hit “What You Won’t Do For Love,” has passed away at age 71. The Story Continues Here.   Jack ‘Wildchild’ Brown and Miles Brown: Funk, Family, and Creative Excellence Growing up in a creative family has its advantages. Just ask today’s guests, Jack “Wildchild” Brown and his son, actor Miles Brown, who you may recognize from his breakout role on ABC’s hit show Black-ish. The Story Continues Here.   Universal Music Group Acquires Hyperion Records Ahead of Apple Music Classical Rollout, Touts Itself ‘As the Definitive Home for Classical Music Globally’ About two weeks ago, during his company’s Q4 2022 earnings call, Universal Music Group (UMG) head Lucian Grainge disclosed a streaming-reform partnership with Deezer. Now, the major label and the Access Industries-owned platform have formally announced their tie-up. The Story Continues Here.   Believe Posts 32% 2022 Revenue Jump As Asia-Pacific and Africa Income Cracks $200 Million About five weeks after touting roughly €1.1 billion in annual “digital music sales,” Believe has revealed that it achieved nearly 32 percent year-over-year (YoY) revenue growth last year. The Story Continues Here.     Billy McFarland Earns $19,000 for ‘Business Insights’ Speech Following Prison Stint Now that he’s out of prison, Billy McFarland is collecting speaking fees from would-be entrepreneurs. The Story Continues Here.   When Is BTS Getting Back Together? Here’s the Latest From HYBE When is BTS getting back together? HYBE has previously said that the group would reconvene in 2025 following the mandatory military service of all seven members. Here’s the latest. The Story Continues Here.   IFPI, Pro-Música Brasil Take Down 1,720 Infringing Domains and Apps in ‘Operation 404’ IFPI and Pro-Música Brasil take down 1,720 infringing domains and music apps in Brazil’s ongoing ‘Operation 404.’ The Story Continues Here.   A Look At Post-Oscars Streaming Boosts for Performers at 2023 Ceremony Several performers at the 2023 Academy Awards ceremony saw a boost in their streaming numbers. Lady Gaga also gave a surprise performance after producers said she wouldn’t be performing at the Oscars. The Story Continues Here.         PizzaExpress to Launch Brand New Record Label PizzaExpress will launch a new record label, releasing albums from new and established artists alongside a selection of previously unreleased music from its live music arm, PizzaExpress Live. The Story Continues Here.   Most Read: Metallica Purchases Entire 70,000-Square-Foot Record Pressing Plant Amid Vinyl Resurgence After reaching a substantial number of new fans with a Stranger Things placement last year – and as vinyl’s nearly two-decade-long commercial resurgence continues – Metallica has officially purchased an entire record pressing plant. The Story Continues Here.   Jobs The latest positions and posts! Check out the full list here, and email noah@digitalmusicnews.com for details on how to post. VerseOne Distribution  Publishing & Sync Coordinator Location:  Remote Warner Music Nashville Streaming Manager Location:  Nashville, TN (Hybrid)

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RG Ingersoll's Hotrax Music Tips - Why is Spotify copying TikTok? To cling on to power.

 

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Music Business Worldwide: Newsletter

Believe generated $800m in annual revenues in 2022, up 31.8% YoY Paris-headquartered music company Believe generated annual revenues of €760.8 million in 2022. That annual revenue figure converts to USD $800 million (at average annual exchange rates as per the IRS). The company's full-year financial results (its second set of full-year results since floating on the Paris Euronext in 2021) were published on Wednesday (March 15). According to Believe, its annual revenues grew €183.6 million, from €577.2 million in 2021, reflecting an increase of 31.8% YoY. Believe's performance in 2022 marked an acceleration in growth versus the prior year, when the company grew its revenues by €135.8 million (30.7%) YoY, from €441.4 million in 2020....  (MBW)

MBW Newsletter Sponsors Primary Wave: The Home of Legends. The world's leading independent publisher of iconic music CMS, CRM, Playlists, Royalty Accounting, Analytics: your music business all in one place The next generation label transforming viral moments into long term music careers.  Centtrip: The award-winning account for music payments, royalties, foreign exchange and touring expenses Viberate: Get premium music data analytics at an unbeatable price. BandLab: Home to 60M creators making and sharing music without limits Voly Music The Bespoke Financial Management Platform for the Music Industry Rights & Royalties Done Right. Drive more revenue with Vistex Music Cloud. Technology + Infrastructure + Methodology ➡️ Execution = Results Want your brand here? Contact Rebecca through this link...   Why is Spotify copying TikTok? To cling on to power. Why is Spotify pursuing a new design that borrows heavily from time-sucking short-form video services like TikTok? That’s the question on the mind of Music Business Worldwide founder, Tim Ingham, on MBW’s latest Talking Trends podcast. As Ingham explains, Spotify’s motivations for its much-debated new home feed (as well as its new AI-powered DJ) aren’t likely to lie solely in its aid of artists. Instead, he suggests, Spotify has made the move because it knows the power of its key USP in the view of investors – algorithmic recommendation – has been deteriorating in recent years... (Talking Trends supported by Voly Music) Eric Levin, long-time Warner Music Group CFO, to retire later this year Eric Levin, EVP and Chief Financial Officer, Warner Music Group, has confirmed he will retire from the company by the end of 2023. Levin joined WMG in 2014, having held a number of senior executive posts in the US and Greater China. Levin was hired at Warner by former WMG CEO, Steve Cooper, three years after Access Industries acquired the major music company for $3.3 billion...  (MBW) SESAC Music Group acquires distribution and content delivery platform AudioSalad SESAC, the Nashville-headquartered music licensing/collection society, has acquired New York-based content management, analytics, delivery and distribution tech provider AudioSalad. AudioSalad will remain headquartered in New York under the leadership of CEO Iain Catling and CTO Deane Thomas and will continue to function as a standalone business within the SESAC Music Group... (MBW)

MBW'S QUOTE OF THE DAY “Deezer has long advocated for a re-evaluation of subscription’s economic model. We’re thrilled Jeronimo and his team are partnering with us to explore how we can evolve streaming for the benefit of the entire ecosystem of artists, labels, platforms and fans. Such collaboration is critical to the success of the Artist-Centric initiative. While there won’t be one uniform quick fix — subscriber acquisition and retention dynamics and metrics vary by platform — our partnership with Deezer will help accelerate this entire enterprise."   Michael Nash (pictured), Universal Music Group's EVP, Chief Digital Officer, comments on the news that UMG has confirmed an initiative with France-born music service Deezer to "investigate potential new economic models for music streaming". According to a press release, through this collaboration, "UMG and Deezer aim to develop new methods that holistically reward recording artists and songwriters for the value they creat". In January, UMG also announced an alliance with music streaming service TIDAL that will see the two companies work together to explore what they call “an innovative new economic model for music streaming that might better reward the value provided by artists...” (MBW)

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Don't miss: HYBE's not the only K-pop giant eyeing the US: SM Entertainment plans $150m Stateside acquisition to speed up global expansion Mark our words: Money from the South Korean music business is going to have a major impact on the US industry in 2023. Even more so than it already has. Over the weekend, you may have read the news that HYBE (the giant behind BTS) had pulled out of its attempt to buy a 40% stake in rival K-pop firm, SM Entertainment (see below for details). There will be knock-on effects from this outcome. The first obvious one: HYBE, keen to diversify its portfolio beyond K-pop in the wake of BTS being called up to the Korean military, will very possibly now spend more big checks buying music companies in the States Having already acquired Scooter Braun's Ithaca Holdings for over $1 billion in 2021, HYBE America (now run by Braun) announced last month it was buying Atlanta-born Quality Control for a sum worth approximately $300 million. What will HYBE buy next? Its Chairman, Bang Si-Hyuk, told CNN the other week: "Globally, [K-Pop] is not occupying much of the market. On the other hand, Latin music and afrobeats is very rapidly growing... I'm taking over labels and management companies in America to be able to build [our] infrastructure." This story won't all be about HYBE, though. SM Entertainment, whose management just fought off HYBE's takeover moves, has its own plans to globalize via acquisition. Those plans, according to SM investor documents shared by MBW this week, include a USD ≈$150 million spend on buying one or multiple foreign music companies – with North America its priority market...  (MBW) Don't miss: Spotify's mission statement is preposterous. Its latest announcements prove it. “Our mission is to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it.” It’s been Spotify‘s mission statement, published in its annual financials, for the past five years. I’ve pointed out previously that it amounts to nothing more than a daft fantasy. But Spotify’s latest proclamations really hammer the point home... (MBW Reacts)

JOB OF THE WEEK Believe is hiring for a Retail Partnership Lead in London and Paris. Must have around 5 to 10 years' experience in Strategic Partnerships and a proven track record of negotiating and executing Partnership opportunities... [Click here to find out more]

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