Category: IMI updates and news

Exceleration Music Acquires Chicago-based Label Bloodshot Records

This article was published on October 25, 2021 Independent music company Exceleration Music has struck an agreement with Bloodshot Records founders Rob Miller and Nan Warshaw to acquire the label. Exceleration is the music venture founded by indie sector executives Glen Barros, John Burk, Charles Caldas, Amy Dietz, and Dave Hansen in January. The venture’s founders said at the time that its aim is to enhance “the future of independent labels and artists”. To read the entire article click the given link – https://www.musicbusinessworldwide.com/karen-kwak-named-executive-vice-president-head-of-ar-at-warner-records/

Kobalt Is Selling A Music Catalog For $1 Billion – And KKR Is In Prime Position To Buy It

This article was published on October 10, 2021 A new report from Billboard correctly suggests that Kobalt is looking to sell its Kobalt Music Royalty Fund II for a price-tag in the region of $1 billion… and that the firm is in the final stages of a negotiation with a group of investors that includes KKR. Kobalt Capital has managed two funds down the years. The first and smaller of these two Kobalt funds owned a collection of copyrights that were sold to Hipgnosis Songs Fund for $323 million in November last year. The second and larger of these funds, Kobalt Music Royalty Fund II, was established in 2017 with $600 million to spend, backed by the likes of UK pension scheme Railpen, along with other institutional investors. Kobalt Music Royalty Fund II went on to buy the catalog of Matt Pincus’ SONGS Music Publishing for around $160 million in late 2017. The acquired SONGS’ catalog included chart-topping hits by the likes of The Weeknd, Lorde, and Major Lazer. To read the entire article click here: https://www.musicbusinessworldwide.com/kobalt-is-selling-a-music-catalog-for-1-billion-and-kkr-is-in-prime-position-to-buy-it/

Tiktok Names Six Certified Sound Partners Including Songtradr, Massivemusic, UnitedMasters And Epidemic Sound

This article was published on October 07, 2021 TikTok has revealed six ‘certified Sound Partners’, which the platform says “will make it even easier for brands of all sizes to tap into music and sound on TikTok.” The partnerships with the six music companies form part of an expansion to the TikTok Marketing Partners program, which launched in September 2020. Source: https://www.musicbusinessworldwide.com/tiktok-names-six-certified-sound-partners-including-songtradr-massivemusic-and-unitedmasters/

Nepal-based Producer Sagun Launches Lo-fi Label Arden Records In Collaboration With Platoon

This article was published on October 7, 2021 Nepal-based Producer Sagun Launches Lo-fi Label Arden Records In Collaboration With Platoon Nepal-based producer Sagun has launched lo-fi label Arden Records in collaboration with artist services, A&R, and music distribution company Platoon, which was acquired by Apple in 2018. To read more click the link below: Source: Music Business Worldwide

Warner Music Strikes Partnership With $90m-backed Influencer Text-messaging Platform Community

[kc_row use_container=”yes” force=”no” column_align=”middle” video_mute=”no” _id=”762652″][kc_column width=”12/12″ video_mute=”no” _id=”428740″][kc_column_text] This article was published on October 04, 2021 Warner Music Strikes Partnership With $90m-backed Influencer Text-messaging Platform Community Source: https://www.musicbusinessworldwide.com/warner-music-strikes-partnership-with-90m-backed-influencer-messaging-platform-community/ [/kc_column_text][/kc_column][/kc_row]

YouTube Music will launch free background listening starting in Canada

This article was published on October 4, 2021 YouTube Music is lifting one of its most annoying limitations — but only in Canada. Today, YouTube announced that beginning November 3rd, customers in Canada will be able to continue listening to their music in the background while doing other tasks on their phone or when the screen is off. Background listening will support both the standard ad-supported, personalized radio mixes and any uploaded content you’ve added to your account. This is the first time that YouTube Music has offered the feature without requiring that customers step up to a Premium subscription to get it. As for when listeners in other countries can expect to get the same convenience, for now, YouTube is only saying to “stay tuned for additional information and expansion plans.” Source: https://www.theverge.com/2021/10/4/22708688/youtube-music-free-background-listening-date