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Canada’s indie group CIMA elects 2021-24 Board as new bylaws come into effect

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CIMA, the Canadian Independent Music Association, has elected its new Board of Directors during the organisations' Annual General Meeting (AGM), held with MusicOntario. It was CIMA's first AGM since the Toronto-based advocacy organisation made changes to its statutes.

Last year, CIMA members approved bylaw changes that will see the Board of Directors transition to three-year terms for Directors over the next three years. The Board will now comprise 15 elected Directors.

In addition, new ...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Utopia Music-owned Sentric Music Group expands its A&R team in the US

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Royalty management services company Sentric Music Group, part of Swiss-based Utopia Music, has hired four new executives to strengthen its A&R team in the United States — Matt DuFour, Carlos Escalona Cruz, Kebu Commissiong and Lou Plaia.

Sentric said the hires follow the company’s move into North America and its strategy to establish a presence in all the major markets within the territory. All four will report directly to Simon Perry, President of Sentric North America.

Sentric's Ca...

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J.P. Morgan believes Hipgnosis is offering ‘compelling value’ to investors

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Investment bank J.P. Morgan believes that Hipgnosis Songs Fund, the music assets company set up by Merck Mercuriadis, offers "compelling value" for investors.

The assessment of Hipgnosis, identified as SONG by J.P. Morgan, was made through a note to investors following the company's announcement of a dividend for the quarter to 30/6/22. As of July 31, 2022, Hipgnosis owned owns 146 catalogues representing 65,413 songs, with an aggregate value of $2.69 billion, according to the company's late...

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Robert Kyncl’s Warner Music Group CEO job comes with a $2m annual salary, a yearly target bonus of $3m, plus $10m in shares

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Warner Music Group's incoming Chief Executive Officer Robert Kyncl will have a base salary of $2,000,000 and a target annual cash bonus of $3,000,000, among other financial incentives, according to a WMG filing with the Securities and Exchange Commission (SEC).

Kyncl was appointed on September 21 as the new CEO of WMG, taking over from Stephen Cooper, who has been in the position since 2011. Kyncl and Cooper will serve as Co-CEOs of the Company from January 1, 2023 through January 31, 2023....

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