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Creative Industries

Key figures — Week 39, 2024

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$157 billion That’s the value of generative Ai company OpenAI, following the most recent funding round of $6.6 billion, led by Josh Kushner's venture capital firm Thrive Capital, alongside Microsoft, Nvidia and SoftBank. $3.3 billion That’s the estimated value of Global Music Rights (GMR), the rights management company set up in 2013 by Irving Azoff and Randy Grimmett, following the acquisition of a majority stake in the Los Angeles-based PRO by private equity firm Hellman & Friedman, accord...

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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).

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Creative Industries

Creative Europe-backed Artistic Futures launches to help rights holders detect unclaimed royalties

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Seven companies from six European countries active in the music sector have joined forces to launch Artistic Futures, a new initiative designed to create an "AI-powered platform to help independent songwriters, labels and publishers detect unclaimed royalties, fix broken metadata, and take control of their rights across borders and collection societies." The promoters of the project have the ambition to tackle what they consider as "one of the music industry’s most persistent problems: the hundr...

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Creative Industries

Notting Hill Music signs drum & bass artist Sota to a global publishing deal

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British independent music publishing company Notting Hill Music has signed Tom Southon, the up-and-coming drum & bass artist known as Sota, to a global publishing agreement that covers his catalogue and future works worldwide. Notting Hill Music said the new deal will see the company focus on "developing Sota’s catalogue globally, expanding songwriting opportunities and supporting the continued growth of the project as it enters its next phase." Notting Hill Music will work closely with Sot...

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Symphonic expands by offering tailored financial solutions and access to capital to artists, managers, labels and rights holders

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Independent distribution and services company Symphonic has launched Symphonic NEXT, a new initiative to provide clients with tailored financial solutions, including flexible royalty advances, partial or full catalogue sales, strategic partnerships, and long-term distribution support. As part of the initiative, Tampa, Florida-based Symphonic will work closely with artists, managers, labels, and other rights holders "to evaluate their catalogues, identify opportunities to enhance value, and dete...

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