From Concord buying Phil Collins + Genesis bandmates catalogs to Pop House’s Avicci rights deal… it’s MBW’s Weekly Round-Up
Welcome to Worldwide music businessweekly recap – where we’re sure you’ve caught the top five stories that will make our headlines over the past seven days. MBW’s round-up is powered by Centtriphelping more than 500 of the world’s best-selling artists maximize their income and reduce their touring expenses.
It’s been an eventful week in the global rights acquisition space.
On Thursday (September 29), we learned that Concord acquired the publishing and recording of music catalogs by Phil Collins and his Genesis bandmates Tony Banks and Mike Rutherford.
Citing source, The The Wall Street Journal report ‘megadeal’ is valued at over $300 million.
Recent Post-Concord Deal buy, lean on, cling to property of HitCo Entertainment and it buy back eight figures by Australian-based music publisher Native Tongue.
In another development, Stockholm-based Pop House Entertainment announced a deal with the family and assets of Avicii (Tim Bergling) to buy 75% ownership of the late superstar’s recordings and publishing. .
The Bergling family will continue to be closely tied to Avicii’s music as a minority owner with a 25% stake, in addition to forming a joint venture with Pop House.
This week also brought news of a new Singapore-based fund set up to buy portfolios in Asia with an initial raise of $100 million.
Managed by Prime Asia Asset Management and headquartered in Singapore, the fund is headed by Chee Meng Tan (Group founder and CEO).
The leadership team of the new company also includes Garand Wu (President, Greater China), former CEO of Popular music (China).
Also this week, Apple pulled Russian VK apps from its app store, while BMG reserve one of Berlin’s most popular theaters nightly until the end of 2024.
Here’s what happened…
Concord acquired.
This time, the company has begun publishing and cataloging the music of Tony Banks, Phil Collins and Mike Rutherford, as well as publishing and recording music from their years in the band Genesis.
Citing ‘people familiar with the transaction’, The Wall Street Journal reports that the ‘megadeal’ is ‘valued at over $300 million…’
2) BUY POPHOUSE ENTERTAINMENT 75% of AVICII MASTER RECORDS AND PUBLICATIONS
Pophouse Entertainment, a Swedish entertainment company run by Popular music Swedish CEO Per Sundin, already has a 75% interest in Avicii’s masters and publishing portfolio.
The deal follows the launch of the Avicii Experience interactive tribute museum in Stockholm in February, formed from a partnership between the family and property of Avicii (Tim Bergling) and its CEO. Pophouse Sundin, who first signed with Avicii as CEO of Universal Sweden in 2010.
Pophouse revealed the latest deal in a joint release with the Tim Bergling Foundation on Wednesday (September 28), without disclosing the financial terms of the transaction…
By far, the biggest players of the global music acquisition space are mainly based in the United States and Europe.
But in Asia, new big money funds have started to make some serious noise in the past few months.
In June, for example, Seoul-based Beyond Music, which claims to be Asia’s largest single music IP asset manager, laid out a plan to “conquer the global music IP market.” bridge”. The company said it expects to have 1 trillion won ($800 million) worth of assets under management by the end of the year.
Now, MBW can reveal that a new Asia-focused fund has just entered the space and it was launched with an initial raise of US$100 million…
Apps operated by Russia-based tech giant VK have been removed from Apple’s app stores globally, including VKontakte, Russia’s answer to Facebook.
In addition to VKontakte, The Verge reports that the VK-owned music app VK Music has also been revoked by Apple, along with the VK Mail.ru apps and Youla classifieds site.
Citing an Apple spokesperson, The Verge reports that the apps were removed in response to new UK sanctions on Russian-owned companies…
5) BMG ORDER ONLY ONE OF GERMANY’S MOST PRESTIGE DOCTORS EVERY NIGHT TO THE END OF 2024
This is interesting: BMG has just taken another big step towards becoming a serious company in the field of live entertainment in Germany.
On Thursday (September 29), BertelsmannThe -owned company has announced that it has reservations for one of Berlin’s most popular theatres, the Theater des Westens (TdW), 1,600 seats, per night until the end of 2024.
BMG says it was done so to “provide a home for its growing live events business”.
In particular, the music company says it will use the theater to host both its “growing list of theatrical musicals” along with the artists’ Vegas/Broadway-style residences. (à la Springsteen on Broadway)…
Worldwide music business
