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Creative Industries

Main stories — Week 34, 2022

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These are the main stories published this week by Creative Industries News:.

LEAD STORIES
GEMA study shows music creators receive about 22% of streaming net revenues
The UK’s CMA plans to launch an in-depth probe into Microsoft’s $69 billion acquisition of Activision Blizzard
Delhi High Court orders Telegram to disclose details about online infringers
IMPEL seals a strategic partnership with SoundExchange’s SX Works and CMRRA
> SCPP sets up a scheme to help labels pay guaranteed minimum advances to artists
New chapter opens for Kobalt as Francisco Partners takes a controlling stake
> Italy’s recorded music sales were up 18.3% to €153m in the first half of the year
Tencent Holdings becomes Ubisoft Entertainment’s largest shareholder
Mozaic launches a pre-Series A funding round with the goal to raise $5.5 million

BRIEF NEWS
– Japan’s Agency for Cultural Affairs sets up portal to inform creators on online piracy
– MPLC joins the Copyright Society
– Dreame launches campaign to fight digital piracy and copyright infringement
– Apple settles lawsuit with the heirs of songwriters Harold Arlen, Harry Warren and Ray Henderson
– Pokémon Company sues Chinese video games publishers for infringement
– California court dismisses lawsuit filed by Spencer Helden who was featured on the cover of Nirvana’s album ‘Nevermind’
– Kuaishou inks ‘dynamic’ licensing agreement with Warner Chappell Music
– Strange Fruits re-brands as Fruits Music
– TikTok’s parent ByteDance is shelving plans to go public — report
– CT Investments launches the KPOP and Korean Entertainment exchange-traded fund (ETF)

DEALS
– South Korea’s broadcaster MBC signs partnership with metaverse gaming platform The Sandbox
– Lauren Spencer-Smith signs her first global publishing deal with Warner Chappell Music
– Warner Music Mexico and ADA Latin sign Mexican duo Efecto Elegante to an exclusive deal

IN THE NEWS
– Michelle Donelan appointed Culture Secretary in the new UK government
– SABAM names Maud Van de Velde Head of AV, performing & visual arts and literature
– Soundstripe promotes Sourav Nayak to CFO
– lan Willick has joined rights management firm Catch Point Rights Partners as Investment Associate
Damian Christian has been named Chair of the BRIT Committee
– Hélène Larrouturou, has been appointed Managing Director of MEWEM (Mentoring Program for Women Entrepreneurs in Music Industry) France

INTERVIEWS
In case you missed it, Creative Industries News published recent Q&As with:
– Bruno Guez (Revelator)
Andrea C Martin (PRS for Music)
Cécile Rap-Veber (SACEM)
Molly Neuman (Songtrust)
Jordi Puy (Unison)
Olivier Chastan (Iconoclast)
Ken Umezaki (Verifi)
– Paul Pacifico (AIM)
Spek (PopArabia)
– Merk Mercuriadis (Hipgnosis) (Part 1)
– Merk Mercuriadis (Hipgnosis) (Part 2)

OPINION
In case you missed it, Creative Industries News published recent opinion pieces from:
– Susan Cotchin (Good Neighbour Rights): ‘Australia’s decision to limit the application of Art. 15 of WIPO’s WPPT has impacted Australian artists in a big way’
– Helen Smith (IMPALA): ‘We don’t believe equitable remuneration is equitable at all’
– Jonathan Reichman and Jeremy King (Hunton Andrews Kurth): ‘Warhol Foundation v. Goldsmith is an opportunity for US Supreme Court to clarify fair use’
– Kevin Casini: ‘Stakeholders need to take a long-term view with the Copyright Royalty Board’s rate-setting proceedings’
– Barry Scannell (IMRO): ‘Royalty-based NFTs have limited fungibility’

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).

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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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