The music trade 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.
At present (March 16), we are able to convey 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.
Our sources inform us that the corporate is on the block for a considerable eight-figure sum, and that a number of large-scale music firms have kicked the tires on a possible acquisition.
Qanawat Music claims to be “the main unbiased music distributor within the MENA area, with the biggest Arabic Music Catalog worldwide”.
As issues stand, we’re advised, Warner Music Group is favourite to amass Qanawat Music from its present proprietor, cellular tech agency Qanawat. One other main music firm can be stated to have made inquiries.
One different firm who might have proven curiosity in Qanawat Music is Imagine, which final 12 months earmarked a €100 million annual price range with which to make worldwide acquisitions in music.
If Warner does make the Qanawat Music deal, it is going to be the corporate’s second main transfer within the fast-growing MENA area throughout the previous 18 months.
In February 2021, Warner acquired a minority stake in Saudi Arabia’s Rotana Music, which is claimed to be the largest report label within the Center East.
In response to Qanawat’s web site, it at present delivers content material for over 700 artists, performers and influencers – with over 80,000 digital music tracks in its distributed catalog.
When contacted by MBW, Warner Music Group declined to remark.Music Enterprise Worldwide
