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Creative Industries

Hipgnosis Songs Fund initiates the sale of 29 catalogues for a value of $440m — and the buyer is Hipgnosis Songs Capital

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The board of directors of UK-listed Hipgnosis Songs Fund has given the green light for the sale of 29 catalogues it currently owns to fund a share buy back programme and reduce debt. The buyer would be Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management (HSM) and funds managed and/or advised by private equity firm Blackstone.

The company said the transaction was part of strategic proposals designed "to narrow the discount and re-rate the Company's share price." The Boar...

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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

Backbeat Solutions launches a royalty management system for production music

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London-based music royalty software provider Backbeat Solutions has launched a new royalty management system dedicate to production music that is expected to streamline global copyright registration.

The Global Rights And Royalty Exchange (G-RREX) will see metadata uploaded to the Backbeat database automatically pushed to sub-publishers around the world and then further to local performance rights societies in each territory.

“G-RREX is a pioneering system that will enable production mu...

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Creative Industries

Metallica receive SoundExchange Hall of Fame Award rewarding one of USA’s most streamed acts of the past 20 years

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US metal band Metallica has been awarded the SoundExchange Hall of Fame Award to reward them as one of the most streamed acts in the music rights organisation’s 20-year history.

“Metallica is considered one of the greatest rock bands of all time, and for good reason,” said Michael Huppe, President and CEO of SoundExchange. “They have built and rebuilt themselves, continually honing their epic sound with each album and constantly expanding their appeal without abandoning their roots. M...

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Creative Industries

Consumers feel artist’s music or vocals should not be used or ingested by AI without permission — IFPI survey

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A vast majority of consumers feel human creativity remains essential to the creation of music and that an artist’s music or vocals should not be used or ingested by AI without permission, according to the forthcoming Engaging with Music 2023, produced by global record labels' organisation IFPI.

The report is based on a survey of more than 43,000 people across 26 countries, and for the first time contains findings on consumers' attitudes regarding music and artificial intelligence.

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