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Creative Industries

Key figures — Week 11, 2023

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$220 billion That's the market value of TikTok parent company ByteDance, following the acquisition of shares in the company by Abu Dhabi's firm G42, according to Bloomberg. $40 billion That's how much Spotify claims to have paid rights holders since its creation in 2006. The music streaming service made the disclosure during the company's 'Stream On' conference. Spotify also said it has paid out more than $3 billion to music publishers, PROs and collection societies in the last two years. $...

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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

Primary Wave Music acquires Kobalt

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Independent publisher and music assets management company Primary Wave Music has disclosed that it has reached a definitive agreement to acquire Kobalt, the independent music publishing and music technology platform launched 25 years ago by Swedish entrepreneur Willard Ahdritz. The deal encompasses Kobalt’s worldwide operations, its catalogue of owned copyrights, and its digital collection operation amra.

The transaction, the financial details of which have not been disclosed, is subject to ...

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Creative Industries

FM Entertainment and Warner Music Mexico join forces to sign Raúl Hernández Jr. to a global recording and live deal

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Warner Music Mexico and artist management and live music company FM Entertainment founded in 2007 by Manuel Palomino, have signed a deal with Música Mexicana artist Raúl Hernández Jr. that integrates both recording and live touring operations. "The signing marks a deepening strategic alliance between Warner Music and FM Entertainment, designed to co-develop the careers of both existing stars and the next generation of Música Mexicana talent," said the two companies in a statement.

Hernández, ...

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Creative Industries

Warner Music Group and Netflix form creative partnership to produce films and series on WMG’s artists and songwriters

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Warner Music Group (WMG) and Netflix have formed a creative partnership under an exclusive multi-year deal that will give the streaming platform a first-look to make documentary series and films based on the lives, music and legacies of WMG’s artists and songwriters. "The combination of Warner Music Group’s IP with Netflix’s global reach is an incredible opportunity to introduce new fans to our artists and songwriters all around the world," said WMG CEO Robert Kyncl.

Unigram, the company lau...

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