Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain that 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 cut back their touring prices.
Music’s subsequent massive cash acquisition could possibly be simply across the nook.
This week, MBW reported that Qanawat Music, which operates as a music distributor throughout the Center East and North Africa, is up on the market.
Our sources counsel that the asking value for the corporate is a considerable eight-figure sum, and that a number of large-scale music firms have kicked the tires on a possible acquisition.
We’re informed that Warner Music Group is the present favourite to accumulate Qanawat Music from its present proprietor, cellular tech agency Qanawat.
Talking of huge cash offers within the music enterprise, MBW additionally reported this week that Tempo Music, the music rights-acquiring fund launched by personal fairness large Windfall, is promoting its music catalog.
Our sources inform us that Tempo’s portfolio is claimed to have an annual NPS (Internet Writer Share, i.e. gross revenue) of “$30 million-plus”. This enabled MBW to take an informed guess as to the catalog’s potential future sale value, and that guess got here out at round $500 million or above.
Elsewhere, Paris-headquartered Consider revealed its monetary outcomes for 2021 yesterday (March 17) – its first full-year outcomes since floating on the Paris Euronext final summer season, the place it at present instructions a market cap valuation of €1.21 billion ($1.43bn).
Consider grew its revenues by €135.8 million (30.7%) year-over-year, from €441.4 million in 2020, to €577.2 million (USD $682m) final 12 months.
Additionally this week, Common’s Virgin Music struck a worldwide partnership with Australia’s largest indie – Mushroom Group – whereas TikTok confirmed that TuneCore has been picked because the distribution accomplice for its new SoundOn service.
Tempo Music, the music rights-acquiring fund launched by personal fairness large Windfall, is promoting its music catalog.
MBW has been knowledgeable by three senior business sources that US-based Tempo’s rights portfolio is now on the block. A deck containing details about the sale has been distributed to potential acquirers throughout the enterprise.
Because it launched in 2019, Tempo Music has acquired a catalog of rights / earnings streams from stars together with Wiz Khalifa, Twenty One Pilots (through Tyler Joseph), Korn, Florida Georgia Line, and hit songwriter/producer Philip Lawrence…
The music business has seen its fair proportion of large-scale worldwide acquisitions up to now few years – not least Sony Music‘s $255 million buyout of Brazil’s Som Livre.
MBW initially tipped our readers off on that Som Livre sale early, again in March 2021; Sony Music then confirmed it had agreed an acquisition the next month.
On Wednesday (March 16), we introduced you information of the subsequent big-money acquisition of a global music firm: Qanawat Music, which operates as a music distributor throughout the Center East and North Africa.
Paris-headquartered Consider revealed its monetary outcomes for 2021 yesterday (March 17).
The corporate stories that it grew its revenues by €135.8 million (30.7%) year-over-year, from €441.4 million in 2020, to €577.2 million (USD $682m) final 12 months.
These outcomes mark the corporate’s first full 12 months outcomes since floating on the Paris Euronext final summer season, the place it at present instructions a market cap valuation of €1.21 billion ($1.43bn).
Common Music Group‘s Virgin Music Label & Artist Companies (VLMAS) division has entered into a worldwide partnership with Australia’s largest impartial label group, Mushroom, to help and distribute Mushroom artists’ releases worldwide, outdoors of Australia and New Zealand.
The Mushroom label division stays 100% independently owned and its established ANZ operations will stay unchanged on account of the partnership.
Mushroom will proceed to digitally distribute itself in ANZ, as Merlin members, and continues its lengthy standing bodily distribution partnership with Common Music Australia.
TikTok has now confirmed to MBW that Consider-owned digital distribution platform TuneCore has been picked as its distribution accomplice for SoundOn.
In brief, because of this artists who add their music to TikTok SoundOn will then have that music distributed to different platforms (Spotify, Apple Music and so forth.) through TuneCore.
TuneCore has been the service’s distribution accomplice, we’re informed, since SoundOn quietly launched in beta in September final 12 months.
