From $26.2 billion to TikTok defending itself… it’s MBW’s Weekly Round-Up

Welcome to Global Music Businessour weekly roundup – where we make sure you’ve captured our five biggest headlines over the past seven days. MBW rounding is supported by Centtriphelping more than 500 of the world’s best-selling artists maximize their income and reduce their touring expenses.

Global recorded music business created 26.2 billion USD Commercial revenue in 2022 increased 9.0% annually.

Those are the headline stats from IFPI‘S Global Music Report this week. But how does that compare to Goldman book‘ predictions for the industry?

It’s very complicated. MBW explained how and why this week, in our most read story of the past five days.

Elsewhere this week, TikTok is being criticized in the US – as its global CEO steps forward to take the lead and deliverByteDance debate.

He did so in the face of concerns about whether TikTok shared data with the Chinese government on its more than 2 billion users worldwide.

Meanwhile, a new player in the song catalog collection space has launched, with 100 million USD in its pocket, in Song AMR.

In addition, MBW reported – through light data – that almost a quarter of all tracks on global music streaming services received no streams last year. Zero. Drama.

Here are the biggest music headlines of the week…

1) GOLDMAN SACHS PROSPECTS THE WORLDWIDE RECORDED MUSIC BIZ WILL CREATE $27.9 BILLION IN 2022. NO. THIS IS WHY.

Spring/summer 2022 is an exciting time for the global recorded music business.

The industry’s trade body, IFPI, has just released its Annual Global Music Report (GMR) showing record-breaking worldwide wholesale sales in 2021 increased by US$4 billion year-on-year. last.

Then, in June 2022, Goldman Sachs came out, with an update to their own paper (and arguably the most influential book on music business investments): music in the air.

Following IFPI’s good news for 2021, Goldman has upgraded its forecast for the future prosperity of the global recorded music industry.

MBW’s headline at the time captured a celebratory atmosphere: ‘Goldman Sachs: The Global Music Industry Will Be Worth More Than We Thought.’

Goldman predicts in its updated report that the worldwide recorded music business will generate $27.9 billion in annual commercial revenue by 2022.

However, IFPI confirmed yesterday (March 21) that the actual global recorded music industry revenue figure for 2022 is $1.7 billion lower than this forecast. by Goldman, at $26.2 billion.

Happily, the reality isn’t nearly as bleak as that comparison suggests.

It’s just a little complicated…

2) TIKTOK CEO: ‘Nearly half’ of the US population uses the APP, AND a BANNING WILL ‘DAMAGE’ THE COUNTRY’S ECONOMY

TikTok currently has 150 million users in the US, up from 100 million announced in 2020.

The short-form video app, owned by China’s ByteDance, revealed the numbers on Tuesday (March 21) as the company faces growing calls from lawmakers demanding a ban. This app is in the US due to national security concerns.

“This milestone coincides with an important one for TikTok. Some politicians have expressed concern about the possibility of banning our platform, which will directly affect all 150 million Americans already using TikTok,” the company said.

In a video posted to the app, TikTok CEO Shou Chew said that the number of users in the US is equivalent to “nearly half of the US population coming to TikTok”….

3) THE COMPANY RIGHT TO GET $100M BACK BACK OF AMR SONGS, GET INTERESTED IN LOVIN’ SPOONFUL’S JOHN SEBASTIAN’S CATA

A well-funded new player is already well known in the US music business.

AMR Songs (AMR), described as a “music publishing, rights management and catalog marketing company,” launched this week with backing from private funding.

The Los Angeles and New York-based company said it will use the funds to acquire portfolio and frontline operations, including artist and musician development, label distribution, film licensing and television, digital marketing, etc.

Sources told MBW that AMR Songs has raised $100 million in funding from institutional investors.

MBW has also learned from sources that AMR Songs is conducting a second round of funding…

4) MULTIFUNCTIONAL MUSIC INCREASE 100 MILLION DOLLARS, GET EMMY SEAN CALLERY WINNING COMPOSITOR’S CATEGORIES

Multimedia Music has received a $100 million investment from a group of investors and lenders (Metropolitan Partners Group, Bardin Hill, Pinnacle Bank and Regions Bank).

The new investment means the company’s total raised to date increases from $100 million to $200 million.

Led by industry veterans Phil Hope and James Gibb, Multimedia Music launched in early 2022 with an initial $100 million funding from Metropolitan Partners Group, Pinnacle Bank and the Bank. Area to purchase catalogs of film and television music rights from production companies, composers and other rights holders….

5) 38 million tracks on music streaming services were played NO times by 2022.

First of all, check this out: Yes 67.1 million won tracks are available on streaming services, in calendar year 2022 each attracting 10 or less global streams.

That thing 67.1 million won the number represents just under half (42%) of the entire catalog of tracks available on music streaming services worldwide as you read this (based on ISRC).

Prepare yourself for the next statistical year: Nearly a quarter (24%) Later 158 million won tracks on music streaming services overseen by Luminate in 2022 attracted NO plays that year.

That’s about 38 million tracks. 38 million! Do not play!

MBW’s weekly summaries are powered by Centtrip, helping over 500 of the world’s best-selling artists maximize their earnings and reduce their touring expenses.Global Music Business