Welcome to Music Enterprise Worldwide’s weekly round-up – the place we ensure that you caught the 5 largest 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.
The information this week was dominated by the shutdown of two separate music platforms. The primary was TikTok‘s subscription music streaming app, TikTok Music, which the social media service revealed will probably be shutting down on the finish of November.
The second was Warner Music Group‘s foray into DIY distribution. MBW confirmed this week that WMG will probably be shutting down Degree Music, its TuneCore rival, subsequent 12 months, and the platform has already stopped accepting new submissions.
Elsewhere within the music world, the majors are planning for the long run by way of reorgs and M&A. One instance: WMG revealed this week the brand new management workforce and firm construction for Atlantic Music Group below incoming CEO Elliot Grainge.
There have been additionally notable adjustments at Common Music Group, with the announcement that Dickon Stainer will probably be moving into the position of Chairman and CEO of Common Music UK, following information earlier within the week that David Joseph will probably be leaving the corporate.
UMG, in the meantime, additionally accomplished its acquisition of Thailand’s RS Group for USD $65-70 million, hinting that extra M&A offers are on the horizon.
TikTok’s announcement this week that it’s discontinuing its premium music streaming app despatched shockwaves by way of the music business.
As first reported by MBW, TikTok Music will shut on the finish of November in Indonesia, Brazil, Australia, Singapore, and Mexico — the 5 markets the place the app is obtainable.
TikTok says the technique behind the choice is to focus its sources on the ‘Add To Music App’ characteristic, which lets TikTok customers save songs they uncover on the platform to playlists on streaming companies like Spotify, Amazon Music, and Apple Music.
Spotify, specifically, is predicted to learn from TikTok Music’s exit. That’s in accordance with a brand new analysis be aware from Deutsche Financial institution, which calls TikTok Music’s closure “a transparent constructive for Spotify”…
TikTok Music wasn’t the one music business platform to announce its closure this week.
MBW has confirmed that Warner Music Group is shutting down Degree Music, its digital distribution platform for self-releasing artists.
Degree Music, a TuneCore rival launched by WMG in 2018, affords distribution to main streaming companies like Spotify and Apple Music and social media platforms like TikTok and Instagram.
In an e mail despatched out to Degree Music customers on Thursday (September 26), seen by MBW, the platform confirms that it has “made the tough resolution to close down Degree in 2025”. The e-mail states that Degree will not settle for new content material submissions for distribution or edits to present releases, efficient as we speak…
Warner Music Group has unveiled Atlantic Music Group (AMG)’s new management workforce and broader firm construction below incoming AMG CEO Elliot Grainge.
Grainge assumes the CEO position beginning October 1, following the departure of Julie Greenwald (Chairman, Atlantic Music Group) later this month.
Warner stated in a press launch Monday (September 23) that Atlantic Music Group will “mix the strengths of key capabilities” at AMG labels Atlantic Information, 300, and Elektra, to create “one central set of artist growth companies”.
These capabilities on the group degree embody Artistic, Authorized & Enterprise Affairs, Promotion, Press & Media Technique, Digital Advertising & Analytics, Gross sales & Streaming, A&R Analysis, A&R Administration, and Advertising Operations…
Common Music Group Chairman & CEO Sir Lucian Grainge introduced this week that Dickon Stainer has been appointed Chairman & CEO of Common Music UK. Stainer succeeds David Joseph, whose departure was confirmed on Monday (September 23).
In his new position, Stainer is chargeable for the general administration and strategic course of Common Music UK.
Divisions together with Island EMI Label Group, Polydor Label Group, Decca Information, the not too long ago fashioned Viewers and Media Division, in addition to Abbey Street Studios, will report back to him.
For the final 10 years, Stainer served as President & CEO of Common Music Group’s (UMG) World Classics and Jazz division, splitting his time between London and New York…
Final 12 months, Common Music Group acquired a 70% stake within the recorded music catalog of Thailand’s RS Group for round USD $45 million (plus a possible ~$5m in bonus funds). On the time, MBW advised you to “count on extra M&A exercise from UMG in Asia to comply with”.
Okay, that wasn’t the boldest prediction we’ll ever make. However, effectively, we weren’t fallacious.
UMG has now confirmed that it not too long ago accomplished the acquisition of the remaining 30% of RS Group’s catalog, taking full possession of the recordings portfolio.
In different phrases, UMG simply accomplished the acquisition of Thailand’s second-largest recordings catalog for a complete sum of roughly USD $65-$70 million.
Fascinating. However the greater story here’s what’s going to return subsequent…
