Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure that 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 maximise their earnings and cut back their touring prices.
Anybody following SoundCloud‘s upward trajectory over the previous 12 months will pay attention to how vital that rise has been.
From the launch of the corporate’s “fan-powered royalties” (FPR) mannequin, to the current information that it’s launching a brand new service that can see it present artistic and monetary assets for choose indie artists (with some receiving significant ranges of monetary advances and advertising and marketing assist) – SoundCloud has been carving out a singular place for itself within the business.
Its 2020 monetary outcomes weren’t dangerous both. This week, MBW bought our fingers on the FY 2020 fiscal report for SoundCloud Holdings GmbH, Berlin – now the umbrella firm for SoundCloud and its subsidiaries worldwide.
The report reveals that SoundCloud posted revenues of EUR €193.5 million (USD $218.7m) in calendar 2020, up 31% year-on-year.
The corporate’s gross revenue in that very same 12 months elevated by 53% to €61.1 million ($69m), whereas its working losses considerably narrowed by 41% YoY to €15.4m ($17.4m).
Additionally this week, following a string of current catalog acquisitions accomplished by BMG, the corporate revealed on Wednesday (February 16) that it’s struck a take care of the property of American blues legend John Lee Hooker.
The settlement consists of Hooker’s total publishing catalog co-acquired with BMG’s longstanding accomplice Fujipacific Music, his total recorded and efficiency royalty earnings, in addition to a number of his recorded catalog spanning Alone, Vol. 1 (1980) via Black Evening Is Falling (2020), acquired solely by BMG.
Talking of music rights investments, we additionally realized this week that Swedish leisure firm Pophouse, led by former Common Music Sweden boss Per Sundin, and co-founded by ABBA’s Björn Ulvaeus, is now making strikes on this area.
In response to a press launch saying the addition of Airbnb and EQT executives to its board, the corporate – arrange in 2014 as a option to create distinctive stay occasions that promote the ABBA model – is “transferring into IP investments, significantly music rights, via a number of strategic acquisitions and growth initiatives”.
Elsewhere, Sony Music Publishing has employed Walter Jones as its new Govt Vice President, Head of A&R, whereas Snoop Dogg bought tens of hundreds of thousands of {dollars} price of NFTs in underneath per week.
SoundCloud posted revenues of EUR €193.5 million (USD $218.7m) in calendar 2020, up 31% year-on-year.
The corporate’s gross revenue in that very same 12 months elevated by 53% to €61.1 million ($69m), whereas its working losses considerably narrowed by 41% YoY to €15.4m ($17.4m).
We all know all of this as a result of MBW has gotten our fingers on the FY 2020 fiscal report for SoundCloud Holdings GmbH, Berlin – now the umbrella firm for SoundCloud and its subsidiaries worldwide….
BMG has acquired the music pursuits of iconic American blues singer-songwriter and guitarist John Lee Hooker from his property.
The settlement consists of his total publishing catalog (Growth Growth, One Bourbon, One Scotch, One Beer, Boogie Chillen, amongst others), co-acquired with BMG’s longstanding accomplice Fujipacific Music.
The deal additionally consists of John Lee Hooker’s total recorded and efficiency royalty earnings, in addition to a number of Hooker’s recorded catalog spanning Alone, Vol. 1 (1980) via Black Evening Is Falling (2020), acquired solely by BMG… (MBW)
Pophouse, the Swedish leisure firm led by former Common Music Sweden boss Per Sundin, has added some spectacular names to its Board of Administrators – and says it’s beginning to make investments in music rights.
Pophouse was co-founded by ABBA’s Björn Ulvaeus in 2014, principally as a option to create distinctive stay occasions that encapsulate and promote the ABBA model.
It’s since construct on these beginnings to construct a portfolio of properties that embody the world’s largest gaming and digital tradition hub, Area, in Stockholm, along with the Avicii Expertise, in addition to ABBA The Museum – a Stockholm-based tribute to the record-breaking Swedish band.
Maybe Pophouse’s most formidable mission up to now is London’s ABBA Stadium, which is able to home a year-round ABBA Voyage live performance from Could this 12 months…”
Sony Music Publishing (SMP) has employed Walter Jones as Govt Vice President, Head of A&R.
Jones’ appointment is efficient February 22. He shall be based mostly out of SMP’s Los Angeles workplace and report back to Sony Music Publishing Chairman and CEO, Jon Platt.
In his new position, Jones will oversee Sony Music Publishing’s US A&R efforts, and work intently with the agency’s Stateside artistic workforce to assist each rising and established songwriters…
Together with the discharge of his new album B.O.D.R (Bacc On Demise Row) on Friday (February 11), Snoop Dogg additionally launched the album on the blockchain via a partnership with blockchain gaming platform Gala Video games, by way of “Stash Field” NFTs, bought on Gala’s new Gala Music retailer.
Snoop Dogg’s NFTs are restricted to 25,000 and every ‘field’ prices $5,000. On the time of writing (11:30 AM PT, on Tuesday, February 15), there have been 16,137 NFTs remaining, which implies that if the opposite 8,863 have been bought on the asking value – then the NFT sale generated at the very least $44.3 million because it went stay on Friday…
