From BTS renewing their HYBE contracts to Deezer elevating its costs once more… it’s MBW’s Weekly Spherical-Up – Music Enterprise Worldwide
Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain 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 revenue and scale back their touring prices.
On Wednesday (September 20), MBW predicted that new music streaming worth rises can be with us by the top of the yr.
Lower than 24 hours after we issued that forecast, it got here true.
The next day (September 21), Paris-headquartered Spotify rival Deezer quietly introduced that its costs have been growing but once more…
Elsewhere this week, on Monday (September 18), Katy Perry offered a bundle of music rights to $500 million-backed Litmus Music. Litmus’ cope with Katy Perry, which trade sources counsel was price round $225 million, marks this yr’s largest catalog cope with a single artist.
On Wednesday we discovered that every one seven members of megastar Ok-pop group BTS are renewing their contracts with South Korea-based leisure large HYBE and its Massive Hit Music subsidiary.
Plus, BMG is taking its digital/streaming distribution enterprise in-house, whereas recorded music trade revenues hit $8.4 billion within the US in H1.
Right here’s what occurred this week…
Credit score: Diego Thomazini/Shutterstock
1) DEEZER RAISES PRICES FOR SECOND TIME IN 12 MONTHS: INDIVIDUAL SUBSCRIPTION NOW €11.99 PER MONTH IN FRANCE, SPAIN, AS FAMILY PLAN BALLOONS TO £19.99 PER MONTH IN UK
On Wednesday (September 20), MBW predicted that new worth rises on the planet of music streaming can be with us by the top of 2023. It took lower than 24 hours for that forecast to return true.
Yesterday (September 21), Deezer, the Paris-headquartered rival to the likes of Spotify and Apple Music, quietly introduced that its costs are growing but once more.
In a brief assertion posted on its web site, Deezer wrote: “From September twenty first, 2023, costs are adjusted for all new premium and/or household subscriptions in France, UK, Spain, Italy and the Netherlands. For our present premium and household subscribers in these international locations, the modifications in pricing will change into efficient on the earliest on the primary billing interval after October twenty fourth, 2023.”
Photograph Credit score: Joe Seer/Shutterstock
2) KATY PERRY SELLS MUSIC RIGHTS TO LITMUS MUSIC IN $220M+ DEAL
Katy Perry has offered a bundle of music rights to $500 million-backed Litmus Music. The deal spans Perry’s 5 studio albums recorded for Capitol Data, together with the Grammy-nominated Teenage Dream.
Litmus now owns the artist’s stake in her grasp royalty revenue and her publishing rights to the albums One of many Boys, Teenage Dream, PRISM, Witness and Smile – all launched between 2008 and 2020.
Common Music Group continues to personal and/or management the grasp rights to the Capitol albums…
3) THOMAS COESFELD’S FIRST BIG MOVE AS BMG BOSS: A MAJOR DISTRIBUTION SHAKE-UP
Simply two months after taking cost of BMG as its worldwide CEO, Thomas Coesfeld’s first main transfer as the top of the music firm is sort of upon us.
Two well-placed trade sources have indicated to MBW that BMG’s seven-year recorded music distribution relationship with Warner Music Group / ADA is coming to an finish.
Subsequently, we’re informed, BMG is taking its digital/streaming distribution enterprise in-house…
Credit score: Silvia Elizabeth Pangaro/Shutterstock
4) BTS RENEW CONTRACTS WITH Ok-POP GIANT HYBE
Massive information from BTS and HYBE: All seven members of the megastar Ok-pop group have renewed their contracts with the South Korea-based leisure large and its Massive Hit Music subsidiary.
HYBE revealed the information in a regulatory submitting on Wednesday (September 20), through which it acknowledged: “Our firm has accomplished the Board of Administrators’ decision to resume the unique contracts of seven BTS members”.
The corporate added within the submitting that “this truth was judged to be a administration matter that might have an effect on the corporate’s monetary standing and investor decision-making, and was due to this fact disclosed…”
Credit score: John Shearer/Press
5) Recorded music trade revenues hit $8.4bn within the US in H1 – however paid streaming account progress slowed once more
The US recorded music trade generated USD $8.4 billion in gross revenues within the first six months of 2023.
That’s the headline stat from the Recording Business Affiliation of America’s (RIAA) Mid-Yr 2023 Report, which, printed Monday (September 18), reveals that on a retail foundation, recorded music revenues within the US (cash spent on streaming subscriptions, in addition to bodily and digital music), grew 9.3% YoY.
On a wholesale foundation – i.e. the cash that makes its method again to document labels, distributors and in the end artists – the whole US recorded music trade generated $5.3 billion in H1 2023.
In accordance with the RIAA knowledge, that was up by 8.3% YoY…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and scale back their touring prices.Music Enterprise Worldwide
