Welcome to Music Enterprise Worldwide’s weekly round-up – the place we make certain you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their revenue and scale back their touring prices.
This week, we realized that Merck Mercuriadis, the maverick founding father of Hipgnosis Songs Fund, is launching a brand new funding agency concentrating on artist administration corporations and music catalogs. His new firm will even be referred to as Hipgnosis.
Elsewhere, South Korea’s monetary regulator is reportedly making ready to refer HYBE Chairman Bang Si-hyukto prosecutors over allegations associated to the corporate’s IPO.
In the meantime, Paul Sinclair, who most not too long ago served as Basic Supervisor and Govt Vice President of Warner’s Atlantic Data, has joined AI music platform Suno as Chief Music Officer.
Lastly, Michael Nash, EVP and Chief Digital Officer at Common Music Group, delivered a keynote presentation on the UN’s AI for Good summit in Geneva on Tuesday (July 8).
Merck Mercuriadis, the maverick founding father of Hipgnosis Songs Fund, is launching a brand new funding agency concentrating on artist administration corporations and music catalogs by a partnership construction that provides acts and their representatives possession stakes.
The Monetary Instances reported on Saturday (July 5) that Mercuriadis’ new enterprise has already secured commitments within the “tons of of hundreds of thousands” of {dollars}, citing folks conversant in the matter.
The FT quoted Mercuriadis as saying: “I’m going to amass 5 or 6 actually necessary administration corporations, all of which have famous person artists and famous person managers that go along with them.
“It’s all about them having management and all about them making nearly all of the cash [rather than labels]…”
HYBE has pledged to cooperate totally with authorities as South Korea’s monetary regulator reportedly prepares to refer the Okay-pop large’s founder and Chairman, Bang Si-hyuk, to prosecutors over allegations associated to the corporate’s 2020 IPO.
That’s in keeping with The Korea Herald, Korea Instances and different native information retailers, which report that The Securities and Futures Fee’s capital market investigation crew voted on Monday (July 7) to refer Chairman Bang to prosecutors, with the fee set to formally contemplate the advice at its July 16 assembly.
Over200 workers of indie corporations have signed an open letter, distributed by IMPALA, addressed to Europe’s competitors watchdog.
It urges the EC to conduct a “deep investigation” into Common Music Group’s proposed acquisition of Downtown Music Holdings.
The letter’s signatories embrace important illustration from two main indie music corporations: UK-headquartered Beggars Group and US-headquartered Secretly Group.
They embrace 12 executives working for corporations owned or co-owned by Beggars/XL, together with 4AD, Eternal Data, Matador, Popstock, Tough Commerce, and Younger, plus XL Recordings and Beggars Group…
A outstanding report label government is becoming a member of the management crew of Suno, the AI music-making platform that – together with rival Udio – is going through a copyright infringement lawsuit by the majors.
Paul Sinclair, who spent over twenty years at Warner Music Group (WMG) in numerous roles, is taking over the publish of Suno’s Chief Music Officer, a job wherein he’ll “information how Suno’s AI-powered instruments are built-in into the method of songmaking,” Suno stated.
Sinclair spent the final a number of months advising Suno, the Boston-headquartered firm stated in a press release on Monday (July 7)…
Michael Nash, EVP and Chief Digital Officer at Common Music Group, delivered a keynote presentation on the UN’s AI for Good summit in Geneva on Tuesday (July 8).
This summit, which counts over 13,000 registered delegates, gathers UN resolution makers, politicians, ambassadors, and different stakeholders to debate AI within the context of the UN Sustainable Improvement Objectives.
Throughout his speech, Nash provided insights into how the world’s largest music rights firm is approaching synthetic intelligence, and why he believes “market-based options are the reply” to AI’s challenges in music.
Listed below are 4 issues that stood out from Nash’s presentation…
