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From Stay Nation’s $416m acquisition to Spotify’s comedy battle: It’s MBW’s Weekly Spherical-Up

Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be certain that you caught the 5 largest 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 maximise their earnings and cut back their touring prices.

The reside music trade isn’t having fun with information of the unfold of the brand new Omicron variant of Covid-19 – and tightening of restrictions in sure markets consequently. However there was not less than one very optimistic signal for the resurgent well being of this section of the live shows enterprise this week.

Stay Nation introduced on Monday (December 6) that it had lastly closed its long-awaited acquisition of 51% of Mexico-headquartered OCESA Entretenimiento.

A number one pressure within the Latin American touring world, OCESA Entretenimiento is the third larger live performance promoter on the earth, based on Stay Nation.

The deal seemed prefer it was going to go forward in 2019, however was scrapped final yr amid the uncertainty of the pandemic and associated lockdowns (and the influence on Stay Nation’s money circulation).

Earlier this yr, a brand new settlement was pulled collectively… and now it’s a accomplished deal.

Elsewhere this week, Major Wave wnapped up one more catalog acquisition deal – this time, MBW’s sources inform us, for round $20 million.

The corporate says it’s acquired a bundle of rights from Jim Peterik, the co-writer and co-producer of Eye Of The Tiger. Major Wave says it’s nabbed the “majority stake within the royalties from the Grammy winner’s total music publishing catalog, and rights to a lot of its legendary songs”.

The previous few days has additionally introduced information {that a} evaluate of the Australian music trade – specifically of “sexual harassment and systemic discrimination” within the nation – has launched with the backing of entities together with Warner Music.

Plus we realized why a brand new rights battle for Spotify, involving the takedown of comedy albums from the service, might feasibly finish in big-money lawsuits coming Daniel Ek‘s approach.

Listed here are a few of the largest tales from this week…

1) Stay Nation buys OCESA for $416 million

It was a mega-money deal that was final yr thrown off beam by the pandemic, and the uncertainty surrounding reside music live shows generally.

However Stay Nation has now lastly closed the acquisition of a 51% stake in Mexico-headquartered OCESA Entretenimiento.

Stay Nation says OCESA is the world’s third largest live performance promoter.

2) Major Wave’s scorching streak continues with newest $20 million deal

Major Wave is making it rain.

After elevating a $375 million funding from Oaktree Capital in June, based on MBW calculations, the acquisitive writer has already spent greater than half of that sum on music rights in lower than six months.

MBW revealed this week that the fim has struck one more massive deal, this time with Jim Peterik – a band member of Survivor, The Ides of March, and 38 Particular, and the co-writer/producer of Eye Of The Tiger.

MBW sources counsel that the transaction was value roughly $20 million.

3) Australian music trade underneath evaluate for ‘sexual harassment and systemic discrimination’

The Australian music trade is present process a six-month evaluate by two consultants trying into incidences of “sexual hurt, sexual harassment and systemic discrimination”.

The Nationwide Music Business Evaluate is being led by two consultants, Alexandra Shehadie and Sam Turner, who will begin the preliminary phases of the investigation this month, and plan to finish their work in June 2022.

Suggestions will then be made to corporations within the Australian trade, designed to “guarantee [the] music trade has a protected, respectful and inclusive tradition”.

4) May Spotify face $100m-plus lawsuits for its comedy fake pas?

This week on Speaking Tendencies, MBW founder, Tim Ingham, explains why Spotify deleted a vary of comedy albums from its service over the Thanksgiving weekend – and why it is likely to be on the mercy of big-money lawsuits within the weeks and months forward.

Ingham explains that two distinguished corporations now working on the earth of comedy royalty assortment and administration – Phrase Collections and Spoken Giants – are every respectively run by two music trade veterans who’re consultants within the intricacies of licensing within the US: Jeff Value (Phrase Collections), the founding father of Audiam and TuneCore; and Jim King (Spoken Giants), a former senior determine at US assortment society BMI.

5) Common to develop ‘digital identities’ and NFTs for artists by way of tie-up with Genies

Common is entering into NFTs in a giant approach.

UMG has inked an expansive international partnership with “avatar expertise firm” Genies to develop avatars and digital wearables for UMG’s  artist roster, constructing on what it says are the “corporations’ early collaborations to convey recording artists into the metaverse”.

The deal marks Genies second main label partnership this yr, following its deal with Warner Music Group in April.

MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and cut back their touring prices.Music Enterprise Worldwide

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