Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain you caught the 5 largest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and scale back their touring prices.
This week, Fortnite maker Epic Video games raised $2 billion from Sony Group Company (Sony Music‘s dad or mum) and KIRKBI, the holding firm behind The LEGO Group.
Epic Video games says this newest settlement offers it a $31.5 billion post-investment fairness valuation.
Sony’s contribution to the funding spherical was $1 billion, that means that its funding has purchased it a further stake value roughly 3.2% of Epic.
Throughout Sony’s three investments in Epic over the previous three years ($250m in 2020; $200m in 2021; $1bn in 2022), the corporate has spent a grand whole of $1.45 billion.
In consequence, immediately Sony owns roughly 5.4% within the interactive leisure agency.
Additionally this week, new knowledge launched in a report from the RIAA reveals that Latin music generated $886.1 million on a retail foundation within the US in 2021.
That $886.1 million haul was up by greater than a 3rd (+35.4%) on Latin music’s revenues within the US within the prior yr.
MBW forecasts that revenues generated by the report music marketplace for Latin artists within the US will prime a billion {dollars} throughout the 12 months of 2022.
Elsewhere, music streaming service Deezer is reportedly nearing a deal to go public through a merger with a Paris-based SPAC known as I2PO – which has round $325 million in capital at its disposal.
The Wall Road Journalreviews that Deezer and I2PO are getting near agreeing a deal to take Deezer public.
Plus, Common Music Publishing Group struck an unique world deal to signify Elvis Presley’s music catalog, whereas MBW walked our readers via a mechanical royalty price battle now raging within the US.
Sony’s relationship with Epic Video games is getting even nearer.
Final yr Sony Group Company – dad or mum firm of Sony Music Group – spent USD $200 million to amass a 0.7% stake within the Fortnite-making (now BandCamp-owning) video games firm.
That funding adopted a heftier stake acquisition in 2020, when Sony spent $250 million to amass fairness in Epic value round 1.5% of its enterprise.
Now some extra massive information: As we speak (April 11), Epic Video games has confirmed that Sony has agreed to spend $1 billion to amass a further stake in its firm….
It’s a course of awash with legalese – to the purpose of tedium.
However there’s a vital debate happening within the US over sure kinds of mechanical royalty charges paid to songwriters proper now, and it’s worthwhile to find out about it.
That’s partly as a result of it’s fairly fascinating stuff, and partly as a result of it prods at some tender areas of the facility steadiness dominating the trendy music trade.
Worry not: You gained’t must wade via all of the paperwork; MBW has finished that for you. (So. A lot. Paperwork.)
However belief us, there are some startling nuggets on this story….
We’re gonna name this one early: MBW immediately predicts that the report music marketplace for Latin artists in the US will generate greater than a billion {dollars} in income throughout the 12 months of 2022.
We’re feeling assured on this forecast due to new knowledge launched immediately (April 12) in a report from the RIAA, which reveals that Latin music generated $886.1 million on a retail foundation within the US in 2021.
That $886.1 million haul was up by greater than a 3rd (+35.4%) on Latin music’s revenues within the US within the prior yr.
Based on Wall Road Journal sources, Deezer is at present nearing a deal to go public through a merger with a Particular Objective Acquisition Firm (SPAC).
Who’s that SPAC? They are going to definitely be acquainted to MBW readers.
Final summer time, we informed you a couple of new Paris-based SPAC – I2PO – which had round $325 million in capital at its disposal, and was backed by the billionaire Pinault household’s holding firm..
5) Common to signify Elvis Presley publishing catalog, through world take care of Genuine Manufacturers Group
Common Music Publishing Group (UMPG) has struck an unique world take care of Genuine Manufacturers Group, proprietor of Elvis Presley Enterprises, to signify Elvis Presley’s historic music catalog.
The settlement builds upon Common Music’s present relationship with ABG.
In November 2021, Common Music Group, and ABG inked a strategic initiative to amass and actively handle artist manufacturers…
