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This week noticed calendar Q1 earnings reported for 1) SONY GENERATED $1.99BN FROM RECORDED MUSIC AND MUSIC PUBLISHING IN CALENDAR Q1, UP 13.5% YOY
Sony’s world music rights operation – throughout recorded music and music publishing – generated USD $1.988 billion within the three months to finish of March 2022. That’s in line with MBW’s calculations primarily based on Sony Group Corp’s fiscal This fall (calendar Q1) outcomes, as introduced by the Japanese agency earlier this week. The $1.988 billion determine was up 13.5% year-on-year (vs. calendar Q1 2021) at US dollar-converted fixed forex…. 2) WARNER MUSIC GROUP POSTS $1.38BN IN CALENDAR Q1 REVENUE, UP 13.2% YOY
Warner Music Group generated USD $1.376 billion within the first three months of 2022. That determine was up 13.2% year-on-year at fixed forex, the agency advised buyers this week. Warner revealed these numbers as a part of its fiscal Q2 (calendar Q1) monetary outcomes. These outcomes additionally revealed just a few different attention-grabbing figures throughout each WMG’s recorded music and music publishing operations… We discovered earlier this week that Pink Floyd is contemplating promoting their recorded music catalog for lots of of tens of millions of {dollars}. Bloomberg sources advised that representatives for the enduring British band have reached out to potential patrons within the music enterprise. Right now (Could 13), one other report, this time from the Monetary Instances, means that Warner Music Group and KKR-backed BMG are among the many corporations competing for that deal – and that bids are flying in above the half-billion-dollar mark… The Snapchat story has, by most accounts, been a rosy one for the music enterprise in latest occasions. The Snap Inc.-owned platform has struck licensing agreements with the likes of Warner Music Group, Final week, we requested if TikTok was slowly turning right into a file firm. The catalyst for that article, apart from the launch of TikTok’s distribution and artist incubator platform SoundOn in March, was a job advert posted by guardian firm ByteDance for an A&R govt in Jakarta. Based on that advert, one of many tasks listed for the function is “discovering and signing new music expertise”. That acquired us pondering. With TikTok performing capabilities for artists like advertising and marketing, distribution, discovery and improvement, is the platform on its approach to turning into a file label? This week introduced a brand new layer to this story: ByteDance and TikTok seem to have gone world of their seek for each skilled A&Rs and new artists, with job advertisements for A&R Managers popping up in London, Los Angeles and Sao Paulo (Brazil)… Music Enterprise Worldwide
