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Creative Industries

Concord raises $1.8 billion with the issuance of senior notes secured by catalogue assets

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Independent music company Concord has priced $1.8 billion of senior notes using "a significant portion" of its catalogue of sound recordings and songs as collateral. The operation was carried by asset management company Apollo, through its Capital Solutions business. Apollo structured the ABS transaction and formed an investor syndicate led by Apollo-managed funds.

In addition, JP Morgan served as a co-structuring agent of the transaction. The companies said it was "the largest asset-backed...

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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

Sound Pollution Songs sells catalogue to Sony Music Publishing Scandinavia

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Sony Music Publishing Scandinavia has acquired the rights to Sound Pollution Songs' existing catalogue of approximately 5,000 works. Terms of the transaction were not disclosed. In addition, Additionally, SMP and Sound Pollution Songs have entered into a long-term administration agreement covering future works. The Sound Pollution Songs catalogue includes works performed by artists such as Bonafide, Elaine, Foredoom, Srexoria, Sabaton, Twilight Force, and Wormwood, among others. SMP said the dea...

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Creative Industries

Coalition of artists, songwriters and managers calls for clear and transparent rules in licensing deals with AI companies

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A global coalition of artists, songwriters and music managers have put on notice the world’s record labels and publishers about the misuse of their rights in AI deals in an open letter coordinated by the European Music Managers Alliance (EMMA) with support from organisations around the world. "We are increasingly concerned that artists and songwriters in existing recording and publishing agreements are receiving letters from major labels and publishers informing them that they will be opted in ...

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Copyright & Regulation

French creative sector does not give up on the bill introducing a presumption of using creative content to train AI models

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On the occasion of Music Day on June 21, four French music industry organisation — ADAMI (neighbouring rights society representing performers), SCPP (neighbouring rights society representing owners of sound recordings), SNEP (record labels) and SACEM (authors and publishers) — have called on policy-makers to "to stop allowing platforms to exploit with impunity what our authors and artists have sometimes spent years creating." In an open letter, the organisations claim that "behind every song are...

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