Warner Music Group’s Post

New Post: Spain’s Recorded Music Market Continues to Boom With 12.3% Revenue Growth in 2023 - https://lnkd.in/g9MzbE9P - Promusicae has released the third edition of its annual report on the state of the recorded music industry in Spain. The report reveals that revenue from recorded music in Spain saw a significant increase of 12.33% in 2023, earning 520 million euros (about $567 million) and surpassing the average growth rate seen in neighboring countries. This increase was driven primarily by streaming, which accounted for nearly 77% of the sector’s total revenue. “The positive figures of 2023 should not distract us from the significant challenges we face, including improvements in gender equity and support for local production,” said Antonio Guisasola, president of Promusicae, in a press release. “It’s crucial to capitalize on the boom in Spanish music to properly position our music on a global scale.” Carried out in collaboration with the Department of Audiovisual Diversity of the Universidad Carlos III de Madrid, an exhaustive analysis is made using the data published by the Spanish recording industry through Promusicae and the International Federation of the Phonographic Industry (IFPI). Other key data from the Spanish market includes: 19 million Spaniards use audio streaming services, with 6 million subscribed to premium accounts. The average music consumption is 22.1 hours per week per person, above the global average of 20.7 hours. Recorded music exports contributed 41 million euros (about $45 million) in 2023, growing 17.2% compared to 2022, and accumulated 154% compared to 2018. For Guisasola, it is key to “take advantage of the good moment of Spanish music to position our music in the place it deserves through all the possibilities it has per se or together with other forms of entertainment.” The report also highlights the need to enhance the profitability of music consumption in Spain and emphasizes the importance of a sustainable streaming consumption model that promotes premium usage. Additionally, it underscores the necessity of public and institutional support to encourage the production, marketing and development of Spanish musical talent both domestically and internationally. The presentation was given by Guisasola, Nacho Gallego (professor of the Department of Audiovisual Communication and Director of the Master’s Degree in Music Industry and Sound Studies at Charles III University of Madrid), and managing director of Promusicae Soco Collado who explained the main data and conclusions of this report. The president of Promusicae concluded by adding that “from the sector and the organization we represent, we maintain the maximum disposition to defend the interests of all the Spanish record companies that are developing so much talent.” The complete report

New Post: Executive Turntable: UTA and UMG Veteran Erika Savage Joins King, Holmes, Paterno & Soriano - https://lnkd.in/g54qGz6A - Welcome to another edition of Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music. While you’re here, check out Billboard’s fresh list of top R&B and Hip-Hop executives leading the genres forward, plus our weekly interview series spotlighting a single executive and a regularly updated gallery honoring many of the industry figures we’ve lost throughout the year. Erika Savage has joined the entertainment department of top music law firm King, Holmes, Paterno & Soriano, Billboard can announce. A multi–year honoree in our annual list of influential women in music, Savage was most recently senior vp of global music operations at United Talent Agency, where she oversaw all operational elements of UTA’s global touring division. The bulk of Savage’s roughly 25-year career, however, was spent at Universal Music Group, where she rose to senior vp of strategic development at Interscope Records, developing integrated artist brand strategies across music, brand partnerships, merchandise and touring. “We are delighted to supplement our deep bench of entertainment attorneys with someone at the top of her game,” said managing partner Howard King. Here, Savage expands on her big move from agency life to KHPS: Why join private practice at this point in your career? The idea of artist advocacy. Being an artist lawyer in the music industry is the greatest privilege because you are entrusted to protect your client’s rights and to bring value as a strategic advisor. After many incredible experiences gained working within a major label, building brands, and in global touring, I finally feel like I’m doing what I was meant to do – directly advocating for artists. I’m particularly inspired by the fact that more women artists, producers and songwriters are looking for women to be part of their team as lawyers, managers, agents and business managers. It’s exciting that our shared experiences as women in music will allow us to find ways to be entrepreneurial together. What issue concerns you the most in music? When I started in business affairs at UMG, the major label deal was largely considered the path to superstar artist status. Now, while it’s great that there are fewer gate keepers and far more access points for artists to distribute their music, the legal landscape is far more complicated for developing artists. Navigating all these distributors and platforms can be really overwhelming for an artist just trying to break through. Being a TikTok artist is an incredible catalyst but career longevity requires a strategy beyond achieving 24 hours on the top of a For You page. We represent some in

New Post: Universal Music Group and DGMC Want to Build a ‘Music City’ in the UAE - https://lnkd.in/g9VUxdr6 - Universal Music Group is poised to open its first Capitol Studios outside of Hollywood, plus live performance spaces, music education academies and a new record label, as part of a collaboration with DGMC in the burgeoning music hub of the United Arab Emirates. UMG and DGMC, a UAE-based music organization, will work together to build what’s described as a “Music City” that will serve as a regional hub for both local and global recording artists and songwriters in the fast-growing Middle East and North Africa (MENA) region. The planned studios will include all the latest accoutrement, including a Dolby Atmos mixing room, state-of-the-art recording equipment and rehearsal rooms for artists and writers. The label will be a joint venture between the two companies and will work to turn local artists into global stars. “At its heart, the UMG-DGMC partnership’s aim is to support and nurture talented artists and songwriters in the region and help them reach their full creative and commercial potential,” the companies said in a joint announcement on Monday (Feb. 12). The tie-up follows on the heels of UMG’s acquisition of UAE-based music company Chabaka late last summer to become part of Virgin Music Group. An increasingly attractive region for music mergers and acquisitions, MENA had the highest growth rate of any global region in 2021 and the third-fastest growth — 23.8% — in 2022, according to the IFPI. “We have long recognized the potential in the Middle East, and are incredibly proud to be working with world-class partners like DGMC,” said Adam Granite, executive vp of market development for UMG. “We share their excitement and vision to harness this potential and nurture the next generation of recording artists and songwriters. Our partnership will create a powerful platform for the incredible talent in the region and accelerate their careers at home and abroad.” - #news #business #world -------------------------------------------------- Download: Stupid Simple CMS - https://lnkd.in/g4y9XFgR -------------------------------------------------- or download at SourceForge - https://lnkd.in/gNqB7dnp

Ah, it seems there has been another development in this intriguing saga. The ongoing bidding war for Hipgnosis sheds light on the growing recognition of music rights as valuable assets (not that its value needed attention because anyone in the industry knows it as a hugely valuable asset!). While this attention isn't entirely new, it underscores the ongoing interest from investors in the music industry's financial potential. As we witness the buzz around the bidding war for Hipgnosis, it's clear that the music rights landscape is gaining attention for its potential financial rewards. Nevertheless, let's remember the importance of preserving diversity and competition in the industry, ensuring that artists remain at the forefront of our considerations. This bidding war serves as a reminder of the evolving dynamics within the music industry and the increasing importance of understanding the intricate balance between financial interests and artist rights. #MusicIndustry #ArtistRights

Exciting news for those attending #MusicBiz this year Our very own Michael Pelczynski will be speaking across #three panels at Music Business Association's quintessential event in Nashville. Here's a quick synopsis of each session for those interested: Session #1: Experienced music startup advisors will offer insights into avoiding common pitfalls when launching a startup in the music industry. They'll offer practical advice on navigating the complexities of startup preparation and market entry, emphasizing the importance of understanding the needs and strategies of rights holders. Featuring Aileen Crowley 🌎 Elizabeth Moody Michael Pelczynski and Cliff Fluet Session #2: Larry Mills, Monica Corton, Michael Pelczynski and Tomas Ericsson will address the shift from black boxes to market share payments as a solution to attribution issues in the music industry. They'll explore the fairness of market share payments and discuss the challenges in identification and attribution, while examining the roles of various stakeholders in resolving the black box problem. Session #3: The panel will discuss the evolving debate in the music industry regarding 'artist-centric' streaming remuneration models, driven by the influx of tracks on digital service platforms and concerns over fraudulent activities. Despite growing support for reform, issues such as tiered thresholds disadvantaging grassroots artists and ineffective penalties for fraud within major labels remain unresolved. The panel aims to identify necessary measures and collaborative efforts to establish streaming models that prioritize the interests of artists and rightsholders across all tiers of the industry. Featuring Thomas Sharp Maxwell Michael Pelczynski David Atkinson Matt Brinkworth Fran Mills Don't miss out on this opportunity to gain valuable insights from industry experts and join the conversation on these important topics. See you soon in Nashville! #MusicBusiness #IndustryInsights #StartupAdvice #StreamingModels #RightsHolders #IndustryDebate

On the music side or the sport and entertainment industry, Green Sports Alliance is so excited to welcome some wonderful folks to our stage. Welcome Michael Ilves, Director of Festivals, Goldenvoice, Towalame Austin, EVP, Global Philanthropy and Social Impact, Sony Music Entertainment, Jaime Nack, President, Three Squares Inc., and Meghan Tierney, Senior Manager, Live Events, Sustainability, AEG. This group delineates how they use environmental strategies at music events.  - Implementing trial and error, and the importance of not giving up. - How they scale products and designs all the way up from their smaller events to Coachella, Stagecoach, etc.  - Listening to the increasing demands for sustainability from audiences and artists who curate the venues in which they operate. - We all share the same struggles and barriers to entry for sustainability, so let's collaborate on solutions. #FasterFurther #24GSASummit

New Post: Sphere Entertainment Stock Gets Analyst Downgrade for ‘Potentially Underwhelming Profitability Outlook’ - https://lnkd.in/g_mP2Cdv - The year-old Sphere venue quickly became a must-see attraction in Las Vegas, but some analysts don’t believe the eye-grabbing, multi-purpose venue has a viable business model. Benchmark downgraded Sphere Entertainment Co. to a “sell” rating on Tuesday (Sept. 3) with a $40 price target, sending the stock down 4.4% to $44.55.  Benchmark downgraded the stock over concerns about the company’s “scalability, high production costs, and a potentially underwhelming profitability outlook,” wrote Benchmark analyst Mike Hickey in an investor note. “A weakening consumer environment may negatively impact their Las Vegas non-gaming entertainment business, while MSG Networks faces significant debt maturity challenges.” The MSG Networks division of Sphere Entertainment Co. operates regional sports networks and the MSG+ streaming platform.  The Sphere Entertainment downgrade arrived on a rough day for stocks in general. A handful of music companies had similar losses on Tuesday: Reservoir Media and SiriusXM each fell 5.2%, Spotify dropped 4.2%, Madison Square Garden Entertainment slipped 4.0% and iHeartRadio lost 3.9%. The tech-heavy Nasdaq composite lost 3.3% and the S&P 500 was down 2.1%.   Sphere Entertainment posted a $201 million net loss on revenue of $1.03 billion in the fiscal year ended June 30. Hosting residencies by U2, Phish and Dead & Company, the venue itself generated revenue of $489.4 million in its first three full quarters of operation, with the film Postcards from Earth earning more than $300 million in “high margin” revenue since opening in October 2023. Sphere has also expanded to corporate and sporting events by hosting Hewlett Packard Enterprise and the NHL Draft. The stunning $2.3 billion venue has “the potential to change the entertainment landscape for artists, guests and partners,” CEO James Dolan said during the company’s Aug. 14 earnings call. “Fully realizing that vision will take time, but we are learning every day how to optimize Sphere’s operating model.” Dolan emphasized how the company is learning to increase the venue’s utilization to hold different types of events and multiple events on a single day. Following Tuesday’s decline, Sphere Entertainment’s share price is up 31.1% year to date.  - #news #business #world -------------------------------------------------- #MagicTheGathering #macos #mac #tradingcardgame - SellingIt(.)org ---> https://sellingit.org

Taylor Swift's Music: Boosting NFL Players and Revenue! #NFLplayers #TaylorSwift #TaylorSwiftsconcertsandNFLrevenue #TaylorSwiftseffectonNFL #TaylorSwiftsimpactonNFL #TaylorSwiftsinfluenceonNFL #TaylorSwiftsmusicandNFL

Taylor Swift's Music: Boosting NFL Players and Revenue! #NFLplayers #TaylorSwift #TaylorSwiftsconcertsandNFLrevenue #TaylorSwiftseffectonNFL #TaylorSwiftsimpactonNFL #TaylorSwiftsinfluenceonNFL #TaylorSwiftsmusicandNFL

The music industry has a big impact on culture and society, so it’s essential to ensure it’s inclusive and representative of all voices. Unfortunately, certain groups have historically dominated the industry, making it less diverse, authentic, visible, innovative, and equitable. This has resulted in underrepresented communities facing systemic barriers to entry, making it difficult for them to succeed. #diversityequityinclusion #musicindustry https://lnkd.in/gxFG2NBc