Category: IMI updates and news

South Africa’s Gallo Music Investments Acquires 45% Stake In Distributor Content Connect Africa (CCA)

[kc_row use_container=”yes” force=”no” column_align=”middle” video_mute=”no” _id=”147179″][kc_column width=”12/12″ video_mute=”no” _id=”210080″][kc_column_text] This article was published on September 06, 2021 Article link: https://www.musicbusinessworldwide.com/south-africas-gallo-music-investments-acquires-45-stake-in-distributor-content-connect-africa-cca/ [/kc_column_text][/kc_column][/kc_row]

Reservoir Generated $16.7m in Calendar Q2 – and Paid Out $6m in Songwriter Royalties and Publishing Costs

New York-headquartered Reservoir Media has this week confirmed its latest fiscal results, revealing that its total revenues in the year to end of March 2021 stood at $81.1 million – up 28% year-on-year. In calendar Q2 (the three months to end of June), Reservoir generated $16.7 million, up 23% year-on-year. Source: https://www.musicbusinessworldwide.com/reservoir-generated-16-7m-in-calendar-q2-and-paid-out-6m-in-songwriter-royalties-and-publishing-costs/

Roblox Q2 revenues grew by 127% year-on-year to $454.1m

Games firm Roblox has reported its latest financial results, with its revenues up 127% to $454.1m in the second quarter of this year. Bookings – a metric covering how much money Roblox users spent on the company’s Robux currency, although they’re not all recognised as revenues until the players spend that currency – grew by 35% to $665.5m. To read more: https://musically.com/2021/08/17/roblox-q2-revenues-2021/

Hipgnosis buys catalog from Fleetwood Mac’s Christine McVie

Hipgnosis Songs Fund has acquired a catalog consisting of 115 songs from Christine McVie, best known as one of the principal writers and vocalists of Fleetwood Mac. This new deal follows Hipgnosis’ acquisition in January of 100% of Lindsey Buckingham’s publishing rights, including both his publishing and writer’s share, across 161 songs. Combined with its acquisition from Buckingham, Hipgnosis now owns the song copyrights and writers share for seven of 11 songs on Fleetwood Mac, eight of 11 songs on Rumours, 15 of 20 songs on Tusk, 9 of 12 songs on Mirage, nine of 12 songs on Tango In The Night, 11 of 16 songs on Greatest Hits, and 12 of 17 songs on The Dance. Source: https://www.musicbusinessworldwide.com/hipgnosis-buys-catalog-from-fleetwood-macs-christine-mcvie/

Warner Boss Steve Cooper Talks Tiktok and Peloton Revenues, the Rise of Virtual Artists, and the Value of Record Labels

It’s been just over a year since Warner Music Group floated on the Nasdaq on June 3 2020, following a delay to its IPO caused by uncertainty over the Coronavirus pandemic. According to Warner Music Group CEO Steve Cooper, speaking on the company’s fiscal Q3 (but calendar Q2) earnings call this week, WMG’s “first year as a publicly traded company, despite home confinement, has been one of the most satisfying in my career”. Source: https://www.musicbusinessworldwide.com/warner-boss-steve-cooper-talks-tiktok-and-peloton-revenues-the-rise-of-virtual-artists-and-the-value-of-record-labels/

Universal Music Group signs global deal with Indian superstar Badshah

Universal Music Group (UMG) has announced an exclusive global agreement with Indian music artist and entrepreneur Badshah. The multi-year deal will see Badshah partner exclusively with UMG across all elements of his career, including future recordings, music publishing rights for non-film compositions, brand licensing and partnerships. To read more click here: https://www.musicweek.com/labels/read/universal-music-group-signs-global-deal-with-indian-superstar-badshah/083832