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Creative Industries

Hipgnosis and Blackstone set up new partnership to invest $1 billion in the acquisition of music assets

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Investment fund Blackstone and music assets company Hipgnosis Song Management (HSM) have set up a new partnership through which Blackstone will invest about $1 billion to acquire music rights and manage catalogues, via Hipgnosis Song Management.

Hipgnosis Song Management is the company founded by Merck Mercuriadis and was formerly known as The Family (Music). It acts as an advisory firms focused on music assets and is the investment advisor to Hipgnosis Songs Fund, known as SONG, the largest...

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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

DSPs file their Phonorecords IV rates proposals for mechanical rights with the Copyright Royalty Board

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Rights holders and digital service providers have started the process that will lead to the determination of rates and terms for making and distributing Phonorecords, known as Phonorecords IV or CRB IV, by the US Copyright Royalty Board (CRB).

The proceeding will determine the mechanical rates paid by digital services and record labels for the rights to reproduce and distribute musical works for the period 2023-27.

For the first time, the Judges are setting mechanical-royalty rates for in...

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Collective Management Organisations

CISAC global collections were down 9.9% in 2020 to €9.32 billion as rights societies around the world continued to feel the impact of Covid

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Rights societies around the world have been hit in 2020 "by a seismic drop in revenues due to the crisis," according to Marcelo Castello Branco, Chair of the Board of the International Confederation of Societies of Authors and Composers (CISAC), which has reported that global collections were down 9.9% in 2020 compared to the previous year, dropping from €10.35 billion in 2019 to €9.32bn.

A billion euros in revenues — even more considering the growth rate of the rights market prior to Covid ...

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Creative Industries

BMG partners with KARO to develop a presence in the festival business

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BMG — and its live partner company Undercover — have sealed a partnership with Volker Hirsch that will see the Bertelsmann-owned music company acquire a majority stake in Hirsch's concert production firm KARO Konzert-Agentur Rothenburg GmbH, organiser of Taubertal-Festival, a mid-size boutique rock and pop festival, founded in 1996.

The deal comes one year after BMG announced its partnership with German live music promoter Undercover which forms the basis of BMG’s live music and entertainmen...

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