Welcome to Music Business Worldwide’s weekly roundup. Here you can be sure to catch his 5 biggest stories that have made headlines in the past 7 days. MBW Roundup is supported by: Centriphelps over 500 of the world’s best-selling artists maximize income and reduce touring costs.
Following last week’s confirmation, BMIsale to a private equity firm new mountain capital (with alphabet-Owned Capital G), this week we learned that the US radio giant. iheartmedia is set to get $One hundred million From sales.
Performance rights organization BMI has been owned by a consortium of radio and television broadcasters since its inception, and the coming weeks and months will reveal how much other broadcasters stand to gain from the sale. I’m going to do it.
Although BMI did not provide a specific price for acquiring NMC in its confirmation letter last week, sources familiar with the matter have previously put the proposed acquisition price for NMC at around 20 million yen. 1.7 billion dollars.
Somewhere in the world of music, warner music group-Owned ADA around the world Signed global sales agreement with generative AI music startup boomya so-called “first of its kind” partnership that will see hand-picked Boomy artists distributed across a number of DSPs and social media platforms.
When it comes to AI-generated music, MBW National Music Publishers Association (NMPA)His submission to the U.S. Copyright Office’s inquiry into AI and copyright found that the trade group had pulled no punches, saying, “In hindsight, generative AI does not represent the creative class of humans.” It is no exaggeration to say that this poses the greatest risk to Japan.” ever existed. ”
MBW also interviewed JT Myers and Nat Pastor about their next plans. virgin music groupand analyzed the speech given in Washington, DC. Dennis Cukor of Sony Music Entertainment About AI and copyright law.
Here’s what happened this week…
1) IHEARTMEDIA will receive $100 million from BMI sales
1) IHEARTMEDIA will receive $100 million from BMI sales
American radio giant iheartmedia are lined up in 100 million dollars Windfall profit from sale to shareholder group leading BMI New Mountain Capital (NMC).
On Monday (Nov. 27), iHeart will receive “approximately” $100 million in proceeds related to its BMI stake after the sale, “subject to approval of the transaction by BMI stockholders and customary regulatory approvals.” He said it was planned.
The US broadcaster added that it planned to use the proceeds for “general corporate purposes, including debt repayment.”
Last week, we learned that private equity firm NMC plans to “lead a group of shareholders” to acquire a majority stake in BMI.
We are a private equity firm that $45 billion Assets under management had been in talks to acquire BMI, and the news was confirmed last Tuesday (November 21)…
2) Warner’s ADA distributes songs by selected artists from generative AI platform Boomy in “first deal”
2) Warner’s ADA distributes songs by selected artists from generative AI platform Boomy in “first deal”
Generating AI Music Startup boomy signed a worldwide sales agreement with warner music group-Owned Indie Label Distributor ADA around the worldwhat the company calls a “first-of-its-kind” partnership.
ADA, Warner’s independent distribution and label services arm, which distributes music to numerous independent labels, will now also distribute music from Boomy, a platform that allows artists to create music using AI. It turns out. The platform also acts as a label and music distributor.
According to California-based Boomy’s website, artists on the platform, which launched in 2019, have created more than just that. 18.1 million The trajectory so far.
Under the agreement with ADA, Boomy’s A&R team will “bring exclusively curated music to ADA from top artists and Boomy’s roster,” the companies said in a statement Wednesday (Nov. 29).
3) Don’t call it distribution.
3) Don’t call it distribution.
Why the leap?
It’s a question that sometimes comes up in this industry whenever a successful or famous entrepreneur takes a job at a major music company.
universal music groupOf course, there’s a rich history in this space, and over the past year, this story arc has played out again at UMG, but with a twist.
By mid-2022, JT Myers and pastor nut An advanced way of thinking has been established. theory – A multi-faceted service and advice engine for fellow independent music entrepreneurs. Their success to date has included collaborations with artists such as: tove lo and tom odellsimilarly major lazer‘s lean onbecoming the first completely independent track to reach No. 1 on the U.S. Top 40 radio chart.
after that Sir Lucian Grainge It was called. Universal’s president pitched to Myers and Pastor the concept of integrating and operating UMG’s independent label/artist services divisions with global power, perhaps in order for Universal to take on Sony’s challenge. This is probably the first time that it has truly gone global. orchard.
“To be honest, I was a little confused by the whole conversation at first,” Myers laughs. “But as we looked into it further, Lucien explained that he saw the whole thing. [record] Business changes – and our ears really hurt. ”
4) NMPA: Generative AI is “the greatest risk to the creative class of humanity that has ever existed.”
4) NMPA: Generative AI is “the greatest risk to the creative class of humanity that has ever existed.”
Lawmakers and regulators around the world are grappling with how to address the many issues that have emerged since AI technology went “mainstream” about a year ago.
A number of companies involved in AI and those with substantial copyrights have submitted comments on this issue to the U.S. Copyright Office. To get the clearest idea of the direction the music industry wants to take things, it may be helpful to read the following:Submissions from National Music Publishers Association (NMPA).
NMPA’s submission dated October 30, 2023 is of no effect. The group begins by emphasizing that its members, major U.S. music publishers and independent music publishers, are not opposed to AI.
But then a problem arises. “However, the evolution of the generative AI market has been characterized by breathtaking speed, scale, and complexity. In hindsight, generative AI may prove to be no exaggeration. The greatest risk to the creative class of humans that has ever existed.“…
5) Sony Music issued nearly 10,000 deepfake takedowns…and what else we learned from Dennis Cooker’s speech on AI
5) Sony Music issued nearly 10,000 deepfake takedowns…and what else we learned from Dennis Cooker’s speech on AI
Top politicians in Washington are increasingly concerned about how AI will affect the law.
Wednesday (November 29), U.S. Senate Majority Leader Chuck Schumer We held an Artificial Intelligence (AI) Insights Forum to discuss the importance and role of creative copyright and intellectual property in the development of AI.
Dennis Cooker, sony music entertainmentPresident of Global Digital Business and U.S. Sales spoke at the forum and outlined the leading music company’s position on AI and copyright law.
In his speech, Kukor directly commented on the flurry of applications filed by the tech industry with the USCO in late October.
I might have nodded Google“Based on recent Copyright Office filings, the technology industry and speculative financial investors want the government to believe a very distorted view of copyright,” Kukor told senators. It’s clear,” he told senators.
MBW’s Weekly Round-Up is supported by Centtrip and helps over 500 of the world’s best-selling artists maximize their income and reduce touring costs.
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