Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain you caught the 5 greatest 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 maximize their earnings and cut back their touring prices.
There was an enormous shakeup at TikTok mother or father ByteDancethis week. MBW broke the information that Ole Obermann is departing as the corporate’s International Head of Music Enterprise Growth after greater than 5 years. Tracy Gardner will take over the function on the finish of March. Our sources inform us that Obermann is headed to Apple Music.
In the meantime, Warner Information inked a partnership with hip-hop and R&B govt Tim Hinshaw to launch a brand new label, Free Lunch Information.
Additionally this week, Sony Music Leisure requested the courtroom to dismiss a copyright lawsuit filed by Patrick Moxey’s unbiased writer, Extremely Worldwide Music Publishing.
In the meantime, Spotify CEO Daniel Ek cashed out one other $31.5 million in firm shares this week, bringing his whole cash-out to $666 million over the previous yr and a half. Spotify inventory hit one other contemporary report excessive on February 13, at $648.32 per share.
Talking of Spotify, we obtained a glimpse this week into its long-awaited “super-premium” tier, which apparently can be branded ‘Music Professional‘ and can value an extra $5.99 per thirty days within the US. Among the many potential perks: live performance tickets, AI-powered remix instruments, and high-fidelity audio.
There was a big management shakeup in TikTok/ByteDance‘s music staff.
After 5 and a half years as International Head of Music Enterprise Growth at ByteDance, Ole Obermann can be leaving the corporate subsequent month for a brand new alternative, nonetheless in music.
Following Obermann’s departure on the finish of March, Tracy Gardner would be the new International Head of Music Enterprise Growth at ByteDance.
TikTok has declined to remark, however our sources inform us that Obermann has lined up an enormous function at Apple Music, which doubtless has a enterprise improvement aspect to it…
Warner Information has entered right into a strategic partnership with outstanding hip-hop and R&B govt Tim Hinshaw.
The deal marks the growth of Hinshaw’s Free Lunch Company — a artistic and touring firm — into the label area with the launch of Free Lunch Information.
In keeping with an official announcement Wednesday (February 19), the collaboration permits Warner Information artists to leverage Free Lunch’s “in depth artistic, touring, and sync companies whereas establishing a brand new dwelling for rising expertise.”
As a part of this growth, revered A&R govt Ericka Coulter has been named Basic Supervisor of Free Lunch Information along with her function as SVP, A&R at Warner Information…
Sony Music Leisure has requested a courtroom in New York to dismiss a lawsuit filed on the finish of 2024 by Patrick Moxey’s unbiased writer, Extremely Worldwide Music Publishing.
The lawsuit, filed in November on behalf of Extremely Worldwide Music Publishing LLC (UIMP) and Extremely Music Publishing Europe AG, accused SME of copyright infringement over Sony and its associates’ alleged use of Extremely’s compositions with no license.
Quite a few Sony‘s subsidiaries, together with Extremely Information and AWAL, had been named as defendants.
In a authorized doc filed by Sony Music‘s attorneys, the music firm known as the copyright motion “an ill-conceived effort” to “retaliate towards” Sony Music “for pursuing claims based mostly on Moxey’s unauthorized use of the ULTRA trademark after SME purchased Moxey’s share of Extremely Information from him in 2021…”
Spotify CEO and co-founder Daniel Ek continues to unload parts of his stake within the streaming large, capitalizing on the corporate’s hovering inventory value.
Ek offered one other 50,000 shares on Wednesday (February 19) for USD $31.5 million, or $630.56 apiece, based mostly on the corporate’s closing value on Tuesday.
The sale, disclosed in an SEC submitting, got here simply days after Spotify’s inventory hit a brand new all-time excessive of $648.32 on February 13.
The most recent sale marks Ek’s 14th since July 2023, and brings his whole earnings from share gross sales to $666.1 million, with $376 million of that coming in 2024 alone…
Spotify‘s long-touted superfan tier seems to be taking form – and might be launched this yr.
Citing sources, Bloomberg reported final weekend that the streaming firm is contemplating charging as much as $5.99 extra per thirty days on prime of a Premium subscription for entry to a so-called ‘Music Professional’ tier, which would come with numerous ‘superfan‘ perks.
A person Premium subscription is at present priced at $11.99 within the US, following the latest value rise in June 2024. This might deliver the mixed value of a Premium subscription plus the Tremendous Professional add-on to round $18 per thirty days.
That value vary correlates with what Spotify CEO Daniel Ek instructed analysts in July final yr when he confirmed that the corporate was engaged on a pricier tier…
MBW’s Weekly Spherical-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 Enterprise Worldwide
