Business

  • Coalition Talent, the live booking and entertainment agency, has announced a wide-ranging joint venture agreement with Ministry of Sound. (RotD) The MoS events team are relocating to Coalition’s central London offices and will develop and implement a range of new live events and brand partnerships.
  • Goldenvoice parts ways with FYF Fest founder Sean Carlson. (RA) He has since been accused of multiple accounts of sexual assault. (Mixmag)
  • New dance music label, Teamwrk Records, launched by Lucky Entertainment, has announced a partnership with Universal Music Australia for exclusive global digital and physical distribution, as well as promotions and marketing services. (TheMusic)
  • Patrick Moxey, the founder of dance and electronic label Ultra Music, is relaunching classic hip-hop label Payday Records. (Billboard)
  • SoundCloud CFO Holly Lim moves to TuneIn. (Billboard)
  • Dance-music veterans Justin Kleinfeld and Lawrence Lui have announced the formation of Bampire, which they describe as a full-service marketing, project management and artist services company. (Variety)
  • Robb McDaniels has been appointed CEO of Beatport. (Variety, Billboard) He has previously been CEO of INgrooves.
  • German venture capital firm EMH Partners has invested $50m in an expansion round for Berlin-based Native Instruments. (Unquote)
  • EDM Magazine has been acquired by EDMtv Network founder and record label executive Matt Bolton for $2.5m. (RotD)
  • Mixcloud, which specialises in long-form audio, has struck a licensing agreement with Warner Music and is in negotiations with Universal and Sony. (FT) It plans to offer subscriptions to specific radio personalities or programmes, who will also earn a cut of the sales.
  • San Franciso-based Gigwell, a management platform for booking agencies, has announced the acquisition of Jamplify’s Ticket Counts Pro and Live Intel products. (Billboard)
  • Split Music, a London-based publishing agency for experimental electronic music, is starting a label called Research. (RA)
  • The Prodigy are returning in early 2018 with a new album via their label Take Me To The Hospital. It will be their first through a new deal with BMG. (Billboard)
  • New Order has announced a full and final settlement has been reached in the long running disputes with their former bassist Peter Hook. (RotD, Guardian)
  • San Franciso-based Gigwell, a management platform for booking agencies, has announced the acquisition of Jamplify’s Ticket Counts Pro and Live Intel products. (Billboard)
  • XL Recordings owners Richard Russell and Martin Mills shared a £20m dividend in 2016, in part thanks to Adele’s 25 breaking sales records. (Mail on Sunday) It was the biggest selling album for two consecutive years in the UK, US, Canada and Australia. Accounts show pre-tax profits dipped from £29.2m to £22m for the year ending December 31, 2016, as turnover fell from £76m to £58m.
  • Amsterdam-based record label Armada Music has opened an office in London. (RotD) The branch will focus mainly on local A&R and promotion. The dance label was founded in 2003 by Armin van Buuren, Maykel Piron and David Lewis.
  • Warner Music Group (WMG) has acquired Dutch independent electronic music company Spinnin’ Records, along with its music publishing and artist management divisions. One co-founder, Roger de Graaf, will be CEO, while another, Eelko van Kooten, is leaving. (RotD, Billboard) Financial terms of the acquisition were not disclosed, but a figure of $100m+ has been speculated.
  • Gary Richards, founder of Hard Events, has joined LiveStyle, a resuscitated version of the bankrupt promoter SFX Entertainment, as president of LiveStyle North America. (LATimes)
  • Warner Music Group has officially acquired Spinnin’ Records. (RotD) The deal is said to be worth more than $100m. (MBW)
  • Sony has become the first major to allow its music to be monetised through unofficial mixes thanks to a deal with rights clearance startup Dubset. (TechCrunch, Billboard, WSJ) It will use MixBANK, Dubset's rights management tool, for the licensing, distribution and monetisation of DJ sets and remixes that use its music.
  • Since January of 2016, SoundCloud’s overall traffic has dipped by roughly 25%, according to tracking data shared by SimilarWeb. (DMN)
  • Following SoundCloud’s $169.5m investment round from Temasek, Singapore’s state investment company, and Raine Group, the boutique investment bank (FT), Kerry Trainor, formerly of Vimeo, has been named as the new CEO as founder and outgoing CEO Alex Ljung takes the position of Chairman. (Billboard, Venturebeat
  • Leading Scandinavian online mastering platform CloudBounce is moving to secure new partners following the recent announcement that rival platform LANDR, has launched a digital distribution service. (DT)
  • Merchant bank The Raine Group and Singapore state investment company Temasek Holdings will reportedly each acquire stakes in SoundCloud imminently, valuing the company at $300m in total. (MBW)
  • Existing SoundCloud shareholders are to vote to accept or reject a reorganisation proposal today that will decide the fate of the company. If rejected, CEO Alexander Ljung suggests the company would not be able "to continue as a going concern”. (AxiosTechCrunchKerry Trainor, who stepped down as CEO of Vimeo last summer, may be named as the new SoundCloud CEO. (Recode)
  • Live Nation has launched an electronic music division named Live Nation Electronic Asia. (LNEPollstar)
  • Gary Richards will depart HARD and move to Tomorrowland and Electric Zoo promoter Livestyle. (Mixmag)
  • To stave off financial ruin, SoundCloud is said to be selling stakes in the company to two private equity firms - combined, the stakes make up majority ownership of the streaming service. (BloombergHypebot)
  • Pretty Lights Music expands from a record label to ‘multi-media resource’. (Billboard)
  • SoundCloud has closed its Sydney office. (AdNews) It will continue to be available in Australia, but its dealings with advertisers and the industry will be made through its US office.
  • Wynn Nightlife appoints Kevin Clark as Executive Director of Talent and Programming. (Billboard)
  • Amy Wheatley has been appointed General Manager of Ministry of Sound Recordings. (RotD) She was previously Head of UK Marketing at Three Six Zero.
  • Further to a Facebook post from producer Kenny Hayes, which said he was leaving All Around The World after 19 years as "Universal have taken over and closed down the studios", RotD understands UMG has exercised its option to pick up the 50% share from founders Matt Cadman and Cris Nutall and now wholly own AATW. The pair remain as consultants for now. Their Blackburn office continues, although other staff are said to be leaving. The TV channels (Now 80s, Chilled 90s, AKA and Clubland) continue unaffected for the present.
  • Soundcloud co-founder Alex Ljung has given his first major public interview since the announcement of layoffs. (TechCrunch) He claimed Soundcloud was on its way to “taking back control” of its destiny. The company has also responded to “extensive inaccuracies” in a TechCrunch article which claims it is almost out of money. (Variety)
  • SoundCloud announces 173 staff lay-offs and the consolidation of its offices in a blog post by co-found Alex Ljung. (SoundCloud) Earlier in the week it was reported that the company is being “eyed by a host of players”, including Deezer who are said to be the most interested, other streaming services and a number of private equity companies, according to NYPost.
  • Everfest, a global festival search engine and calendar, has raised $3.6m in a funding round co-led by Live Nation Entertainment and ATX Seed Ventures. (HypebotIQ)
  • Stephen Bryan is joining YouTube as Head Of Label Relations. (Hypebot) He was previously SoundCloud’s Chief Content Officer.
  • SoundCloud's Chief Content Officer, Stephen Bryan, a key player in its shift from user-generated audio platform to full-service music streaming service, is leaving the company later this summer. (Billboard)
  • Dubspot CEO resigns amid reports of fraud, provides statement. (DA)
  • Ultra Music Festival is embroiled in a legal battle with a Croatian promoter, which licenses the brand for the annual event in Split. Adria MM accuse Ultra of making outrageous demands and blocking them from social media, while Ultra claim the Croatian promoter breached its contract and more. (MNT)
  • Amazon is now running and promoting its own gigs exclusively for Amazon Prime customers in UK. (Times) Prime members will be able to buy tickets to exclusive London performances and shows will also be filmed and made available later globally on Prime Video. To combat touts, Amazon is limiting tickets to two per customer and no physical tickets will be sent out. Photo ID will be required as proof of identity to gain entry and tickets won’t be transferable or refundable, but can be purchased as a gift for someone else.
  • LiveStyle, the company formerly known as SFX Entertainment, has named former label exec Chris Monaco as Chief Revenue Officer, Brand Partnerships, and Sponsorships. (IQ)
  • New York City hedge fund manager David Moradi has been awarded $160.5m in a lawsuit against Marquee Las Vegas after he was attacked by a manager and security officers. (Magenticmag)
  • X-ray Touring agency has entered an equal joint partnership with Paradigm and Ron Burkle’s Yucaipa in the US. (RotD)
  • Mixmag Media, which has reinvented Mixmag in recent years by expanding online and in digital video has acquired Kerrang! from Bauer and will turn it from a print weekly to a monthly in the UK and focus on building its global, digital audience. (CampaignLive) The company will also revive The Face, which closed in 2004, as a digital brand.
  • Geffen Records is to relaunch with A&R executive Neil Jacobson as President. (Billboard) The label’s initial roster includes Avicii and DJ Snake.
  • SoundCloud Go and Go+ have launched in the Netherlands. (Hypebot)
  • SoundCloud VP of Community, David Noël, is leaving the company after eight years. (BusinessInsider)
  • SoundCloud has received $70m in debt to fund growth plans. (Bloomberg, Billboard) The company said it would be used for developing technology and hiring "while building a financially sustainable platform”.
  • Native Instruments has announced the acquisition of MetaPop, a start-up that specialises in monetising unofficial remixes. (Fact)
  • SoundCloud has taken over Pinterest's office in Berlin. (BusinessInsider)
  • Discogs is expanding into the world of second-hand music production gear with the marketplace launch of its new Gearogs site next month. (Fact)
  • LA-based Deckstar, which represents Steve Aoki amongst others, is to come under the wing of the global sports, music and entertainment management company James Grant Group (JGG) as part of a multi-million dollar merger. (Billboard)
  • SBE Entertainment Group is rumoured to be talking about combining efforts with Hakkasan Group in an effort to expand their current markets beyond their respective geographies. (MagenticMag)
  • Global Entertainment has acquired majority stakes in several festivals including Hideout in Croatia. (IQ)
  • SoundCloud has received $70m in debt to fund growth plans. (BloombergBillboard) The company said it would be used for developing technology and hiring "while building a financially sustainable platform”.
  • SoundCloud has responded to a story reporting that it may consider bids for just the amount it had raised to date, saying “we are actively speaking with a variety of potential investors” and that “we expect to see 2.5x year-over-year revenue growth in 2017, driven in part by SoundCloud Go”. (Billboard)
  • SoundCloud has launched a mid-priced subscription plan, SoundCloud Go, offering an offline, ad-free service for £5.99 per month. The existing premium £9.99 service has been renamed SoundCloud Go+. (SoundCloud, SoundCloud, Verge)
  • Dubset Media has completed a $4m round of Series A funding. Dubset's MixBANK technology identifies musical recordings used in mixes and remixes, determining the appropriate rights holders, and simultaneously clearing the mix or remix across all rights holders. (Billboard, TechCrunch)
  • Marc Strigel, SoundCloud’s Chief Operating Officer, and its finance director Markus Harder have both left the company. (FT, Hypebot) “SoundCloud is begging for money, but I wouldn’t give them any right now” a German financier said. SoundCloud hit back at the FT report; calling much of the account "inaccurate”, "disappointing" and not up to the usual journalistic standards. (Hypebot)
  • SoundCloud has appointed Merritt Farren as its new General Counsel, based in Berlin. (PRNewswire)
  • SoundCloud has struck a deal with Rubicon Project to automate its audio and video ad inventory as it looks to bolster its programmatic offering to better monetise its content. (Drum)
  • Madison Square Garden buys majority stake in nightlife company TAO Group. (Billboard)
  • James Barton, founder of Creamfields festival and the former President of Electronic Music at Live Nation Entertainment, is heading a new as yet unnamed LA company with UK-based financial consultancy Edition Capital, and US investor Providence Equity Partners. The venture aims to launch up to 10 festivals across Europe, starting with the acquisition of Sziget in Hungary. (Audience)
  • Pacha Group, including the hugely successful Pacha Ibiza, has been sold for a reported €350m to private equity firm Trilantic Capital Partners. (DiariodeIbiza) Trilantic has said it plans to significantly increase the workforce.
  • Following a statement (FT) in SoundCloud's Annual Report warning it may run out of cash this year, after incurring a €51m loss in 2015, with the directors and auditors saying it may not be possible to continue as a going concern, the company has now expanded on the statement claiming its on a “very positive positive path to building a financially sustainable platform”. (Hypebot)
  • SoundCloud co-founder Eric Wahlforss is stepping away from the role of CTO at the platform and taking a new position as Chief Product Officer. New hire Artem Fishman, previously Vice President Of Engineering at Yahoo, is taking up the CTO position. (TechCrunch)
  • The UK industry has recorded a 1.5% increase in Album Equivalent Sales (AES) on 2015 as 123m albums or their equivalent were either streamed, purchased on physical format, or downloaded by UK music consumers in 2016, according to figures released by the Official Charts Company and the BPI. Audio streams recorded a 68% rise on 2015, totalling 45bn - not including video streaming. (RotD) 1bn audio streams now take place in the UK each week, with the milestone figure being achieved within one week last month (December) following three years of massive growth for the format. (OCCSales of CDs declined by over a tenth in 2016 (-11.7%) while downloaded albums and singles now account for just 22.6% of music consumption volume. Sales of vinyl reached a 25-year high with over 3.2m LPs sold – a 53% rise on last year. (BBC)
  • Google is reportedly “very interested” in purchasing SoundCloud for $500 million. (Fact)
  • SoundCloud is rumoured to run out of funding this year after posting €51M in losses. (Pulse)
  • Spotify has abandoned plans to acquire SoundCloud. (FT, TechCrunch) The deal is said to have fallen through because Spotify did not want to slow its path towards a flotation with the costs and licensing agreements needed to buy SoundCloud.
  • Hits states Ministry of Sound was acquired by Sony Music for $55m.
  • At RCA UK, Colin Barlow is said to be exiting and Dave Dollimore, who joined Sony with the Ministry of Sound deal, expected to be the new head. (Hits) Dipesh Parmar is believed to be lined-up to replace Dollimore as day-to-day head of MoS, which will become a new frontline label within the Sony structure. (MBW)
  • East21, one of China’s biggest club and music festival operators, has struck a deal with DJ Mag for the rights to its monthly dance music and DJ magazine in China, including Hong Kong and Macau. (Standard) The five-year licence agreement is worth in excess of £1m to the 25-year-old publication and gives East21 the rights to host events under DJ Mag’s coveted Top 100 DJs banner.
  • Live Nation Entertainment has bought a 51% controlling stake in Secret Sounds, the Australian music festival group who produce Splendour in the Grass and Falls Music & Arts Festival. (FT, PRNewswire) The deal values Secret Sounds at about $60m.
  • SFX Entertainment has emerged from bankruptcy ahead of schedule. (IQ) New CEO Randy Phillips says he plans to apply the AEG Live model to debt-free LiveStyle, saying: “We’re going to be a music company that specialises in electronic music”. (WSJ)
  • Vivendi has rebranded Flavorus, the ticketing company it acquired from then-bankrupt SFX Entertainment for S$4m in June, as See Tickets, bringing it into line with its US ticketing operation. (IQ)
  • Music streaming and hardware company Electric Jukebox, founded by entrepreneur Rob Lewis, will raise £8m when it reverses into an AIM-listed company this week. It has secured licensing agreements with the majors, which will also become shareholders. (SundayTimes)
  • Fan-to-fan ticket resale platform Twickets has opened on equity crowdfunding platform Seedrs to give the public an opportunity to invest.  The company aims to raise £700,000. (RotD)
  • Ticketmaster sold more than $1bn of secondary tickets in the first nine months of 2016, according to the latest financial results of its parent company Live Nation. (MusicAlly)
  • Artist services firm ReverbNation has acquired music-related consumer research company AudioKite, to provide artists the tools to test their new musical offerings before investing further capital in them. (Forbes)
  • Nine months after filing for bankruptcy, SFX Entertainment has been given the go-ahead to emerge from administration. (IQ)
  • Former AEG Live Chief Executive Randy Phillips has been confirmed as the new CEO and President of the re-organised SFX Entertainment. (Billboard)
  • The Intellectual Property Office is fielding views from across the music, publishing and entertainment industry on the European Commission's draft legislation to modernize the European copyright framework. (Billboard)
  • Russia's economic downturn spells controversy for smaller industries - like royalty collection. (Billboard)
  • Sony Music Entertainment has signed a deal with US publishers which resolves issues over proposed new statutory mechanical royalty rates from 2018-2022. (MBW)
  • More than a year after the European Commission began accusing Google of anti-trust violations related to several pillars of its business, the American search giant appears ready to respond. (Billboard)
  • In the US, following what many perceived as meddling in the Copyright Royalty Board's rate-setting process by Sony, the major has now agreed to the same terms that Warner and Universal acceded to, negotiated between them and the National Music Publishers Association (NMPA) and the Nashville Songwriters Association International (NSAI). (Billboard)
  • Pan-European licensing body ICE has clinched a new multi-territory licensing deal with SoundCloud for GEMA, STIM and PRS For Music repertoire. (MusicWeek)
  • YouTube has reached a landmark agreement with the Germany-based music rights organisation GEMA. (FT)
  • YPlan, the events discover and booking platform, has been acquired by Time Out Group for an initial price of £1.6m — significantly less than the approximately £31m that the London startup had raised. (TechCrunch)
  • Russian social network vKontakte has brokered a licensing agreement with indie label global digital rights agency Merlin covering audio and video content from Merlin's members. (MusicAlly)
  • Sony Music Entertainment has invested a six-figure sum in ‘Europe’s largest live booking platform’ – startup gigmit, based in Berlin. (MBW)
  • In Australia, Jaddan Comerford and Matt Emsell have launched their new venture, 1825 Records, with the aim of launching the careers of local acts overseas. (TMN)
  • Fabric has issued a statement saying: “We have unfortunately had to allow most of our staff to take redundancy and revert to a small manageable team”. The club will begin its appeal against Islington Council's decision to revoke its licence on November 28.
  • SFX and MasterCard, supposedly in a "multi-year global partnership" since August 2014, have fallen out, with each accusing the other of breaching their original agreement. (IQMagnetic Mag)
  • Pacha Group has reportedly been sold for €350m. (Mixmag)
  • Ministry of Sound has appointed See Tickets as its primary ticket agency for all events, including those at its flagship London superclub. (IQ)
  • Pacha Group plans to open 25 hotels and spa resorts around the world, modelled on its own brand which is symbolised by its cherry logo. (Times)
  • As previously reported, Spotify and SoundCloud in talks to create ‘superpower’. (FT)
  • According to Digital Music News and data collected by PrivCo, SoundCloud amassed a gross revenue of $28m in 2016 - a 43% increase from year’s past. (Mixmag)
  • Global has expanded its UK festival footprint to a total of 11 events with the acquisition of South West Four, Field Day, Boardmasters, Rewind, Y Not and Truck festivals, and purchased a further stake in Snowbombing/Festival No.6 promoter Broadwick Live. (IQ)
  • The Deltic Group, the UK’s largest operator of premium late night bars and clubs, has appointed a new Head of Entertainment, Charlotte Purdy. (RotD)
  • Traxsource has appointed Steve Mill as Deep House A&R Manager, Ysanne Reid as Marketing Manager and Mimmo Falcone as Afro House A&R Manager. (RotD)
  • Lyor Cohen has been named Global Head of Music at YouTube. (Billboard, NYTimes) Cohen will continue as CEO of 300 until December 5 of this year, after which that company's management "will transition Lyor’s day-to-day responsibilities to the leadership team within the company."
  • Spotify is said to be in advanced talks to acquire SoundCloud. (FT, Billboard)
  • The RIAA has reported the US music industry to have experienced an 8.1% growth in overall revenue during the first half of this year, totalling $3.43bn. (Billboard, Musically, Bloomberg, AdAge) Digital revenue overall totalled 77.5% of total revenue ($2.66bn), with streaming revenue growing 57.4% overall ($1.61bn). Digital download sales were down 17.1% ($1.012bn). Physical sales were 19.6% of the total, down from 24.7% last year ($671.9m).
  • International nightclub brand Pacha is reportedly up for sale after 49 years. Pacha, associated venues including Destino and Lio, as well as its international franchises reportedly have a price tag of €500m. (Billboard)
  • Warner Music UK has announced the launch of new imprint 2TE Records. (RotD) Headed by Shaurav D’Silva, previously of 3Beat, the urban and dance music label will be part of Warner Bros. Records UK, under the leadership of Phil Christie.
  • Ministry of Sound founder Lord Palumbo is to step down as chairman, but will retain his majority stake. He will be succeeded by Lohan Presencer, Chief Executive, who in turn will make way for Jonathan Bevan, formerly of Clear Channel, where he was president of Europe and Australia/NZ. (Times)
  • Fabric, one of the UK's most well known nightclubs, is to close permanently after its licence was revoked by London local council Islington, due to what it described as a "culture of drugs" at the venue. (BBC) However, Fabric will appeal the decision and will be backed by the Night Time Industries Association's Fund For Fabric campaign, which will seek to raise up to £500,000 to help with the club's legal fees. (MixmagSee News and Comment for reactions.
  • This week's INDUSTRY INSIDER is unsurprisingly dominated by the name FABRIC. In a quite shocking week for global electronic music, our entire industry has been rocked by the news that the iconic London club has been closed by Islington Council. The story will unfold in many ways but do be sure to click to the lead story in Comment, Opinion and Analysis by the UK's Independent newspaper. We have had messages from colleagues from all over the planet, shocked by the decision, and perhaps this one article will go some way to explain the complexities and agendas going on behind the scenes. Fabric's Keith Riley and Cameron Leslie have done a great job defending their club and culture, but now the next stage of the battle really begins. IMS, Mixmag and Pete Tong are fully behind the attempts to re-instate Fabric but also to ensure that the genre's reputation isn't one again damaged by outside forces failing to understand the efforts by reputable promoters to educate whilst they entertain. #SAVEFABRIC #SAVENIGHTLIFE. Ben Turner (IMS Co-Founder)
  • Revelator, a platform for distributing, selling and licensing music online, has raised $2.5m, having raised $3m already. (TechCrunch)
  • Dice has added $6m in funding to expand its app which facilitates hassle free music discovery and fee-free ticketing. The new funds will be used to expand beyond London worldwide. (TechCrunch)
  • MBW reports Spotify has been directly paying producers to create tracks with specific musical guidelines. These producers receive a flat fee for their work, in addition to studio and musician expenses – but Spotify holds on to the master copyright. The tracks appear on some of its relaxing first-party playlists.
  • Proper Music Group has signed Hospital Records to manage its physical distribution for the UK & Ireland and shipping to Europe. (RotD)
  • Music licensing and digital distribution company DubsetMediaHoldings has inked a direct deal with Sony/ATV Music Publishing. (Billboard)
  • Ministry of Sound MD Dave Dollimore may play an expanded, significant role as MoS and Sony Music realign themselves. (Hits)
  • Black Rock City, LLC, the organisation that owns Burning Man, bought seven parcels of land in Gerlach, NV. (Mixmag)
  • Former business partners SFX and Viagogo will lock legal horns this month as secondary ticketer Viagogo seeks $1.6m+ for alleged breach of contract. (IQ)
  • Ministry Of Sound’s General Counsel and General Secretary, Marcel Apfel, has become a director of the company. (MBW)
  • Sony Music Entertainment UK has announced that it has completed the acquisition of Ministry of Sound Recordings. (RotD) It has acquired the label outright, including its artists, back catalogue and compilations business.
  • Crowdmix, the London music streaming and social network startup that went into administration in July, has been sold to Nick Candy, the billionaire property tycoon who was also its main investor. (Business Insider)
  • A group of financial managers and music industry players, including Windish Agency, artist-management group Tmwrk and music management consultancy Mtheory, are starting The Unison Fund, an investment fund geared to financing tours, album production, videos and other ventures for emerging artists. (WSJ) The group has secured $25m in commitments from investors for its initial fund and is said to be considering acquiring music festivals such as those owned by SFX Entertainment.
  • Crowdmix, the failed social network app, has confirmed the appointment of administrators for its three companies. (TheGazette)
  • Event technology platform Eventbrite has announced three prominent hires from the dance and nightlife industry in the US: Senthil Chidambaram, Founder and CEO of Dancing Astronaut; Barak Schurr, Founder of Wantickets.com and Nightclub Hall of Fame inductee and Diego Carlin, CEO of Wantickets.com in the US. (RotD)
  • Reports suggest Randy Phillips, who was CEO of AEG Live for 13 years, will take over as Chief Executive of SFX Entertainment when it announces a new restructuring plan.(IQ)
  • SoundCloud is up for sale to prospective buyers with a billion dollar price tag (Bloomberg, Billboard) The service boasts 175m users, many of which come from the dance music and DJ communities.
  • SFX has announced that Beatport will no longer be sold and will continue to operate as a marketplace, revealing that changes made to the company have “dramatically improved its profitability”. (Mixmag)
  • Warner Music distribution and marketing arm WEA has shut down the accounts of a number of record stores doing less than $10,000 in business annually with them. (Pitchfork)
  • SFX would appear to be running out of options in its efforts to exit bankruptcy and has now withdrawn a proposed Beatport sale. (Hypebot)
  • Social music startup Crowdmix goes into administration. (Billboard)
  • SFX has announced that it has terminated its pre-Chapter 11 Restructuring Agreement and entered into direct talks with bondholders and creditors. (Hypebot)
  • SFX has received a $4m bid for ticketing wing Flavorus from Vivendi Ticketing after an auction. (Billboard) SFX acquired Flavorus in early 2014 for $17m. (Hypebot)
  • Former SFX CEO Robert Sillerman speaks out for the first time about his company's implosion: 'I don't begrudge them their anger'. (Billboard)
  • BE-AT.TV signs new distribution deal with Music Choice. (All Access)
  • Universal Music acquires music marketing company Fame House (with clients including Tiësto) from SFX for $1m. (Hypebot)
  • Live Nation has acquired YouTube rights-management company and multi-channel network (MCN) InDMusic as it continues to seek new opportunities in video. (IQ)
  • The US's largest secondary ticketing site StubHub, owned by eBay, has become the world's largest with the buy-out of its main Latin American rival Ticketbis. (IQ, VentureBeat)
  • Revenues at Spotify surged 80% last year to nearly €2bn (£1.5bn) but losses widened as it invested heavily amid tough competition. (Guardian)
  • UK club venue operator chain Deltic Group is preparing to appoint advisers to consider strategic options, including an initial public offering or private equity sale, over the next 12 to 18 months. (Times)
  • !K7 is expanding its management division [Brandt Brauer Frick, DJ Tennis, Tricky] with additional staff and new clients, and also rebranding from !K7 Records to !K7 Music. (RotD)
  • AEI Media has rebranded “to a name that’s more appropriate to their multi-platform operations across the music industry’s live, physical and online realms” - AEI Group. (RotD)
  • Warner Music Group has become the first major record company to report that streaming has become its largest source of revenue, surpassing sales of physical formats. (FT, Billboard) Total recorded music revenue grew 10% to $610m in the first three months of the year. Overall digital revenue increased 20% to $328m. Streaming revenues surged 59%.
  • Alda Events, SFX Entertainment’s single largest unsecured creditor, has filed a lawsuit in the Netherlands against its bankrupt parent company, citing non-payment of monies owed from its partial acquisition by SFX in 2014. (IQ)
  • Just Isn’t Music, Ninja Tune’s publishing company, is expanding into North America, with creative director David O’Bryan, moving to LA to head up the company’s sync business. (RotD) JIM has signed The Prodigy’s Maxim, for publishing, co-writing and synch representation.
  • The winning bidder for Beatport will have to wait until 26 May to find out if they have won the auction to acquire the store from SFX. (Billboard)
  • Universe, a Live Nation Entertainment company that specialises in self service ticketing software and social event management, is opening its first European office in London. (RotD)
  • Pandora has generated more than $2bn in all-time royalties for artists and songwriters, nine months after hitting its $1.5bn royalties milestone. (BusinessWire)
  • Crowdmix is said to have laid off around 12 of its 160 staff. The music social network is due to launch in May. (BusinessInsider)
  • Live Nation-Gaiety Holdings has acquired a majority share in The Warehouse Project and the Parklife Festival. (MusicWeek)
  • AEG Live is in final negotiations to acquire New York-based independent promoter Bowery Presents. (BillboardDancing Astronaut)
  • SFX is set to continue its fire sale of assets with ticketing service Flavorus put up for auction by the bankrupt events company. (Mixmag) Dutch promoters ID&T, QDance, and B2S will also be auctioned soon. (DeephouseAmsterdam)
  • New figures from the Australian Recording Industry Association (ARIA) show a 5% increase in the value of the recorded music industry in 2015, the first upwards trend the industry's had in its wholesale figures since 2012. (ABC) Streaming now accounts for 62% of the overall market. Digital downloads went down by almost 13%, while CD sales fell 4%.
  • The Eclectic Bar Group, owners of Lola Lo and Dirty Blonde nightclubs, has announced the acquisition of The Brighton Marine Palace and Pier Company, which owns and operates the Grade II-listed, structure for £18m. (FTBBCGuardian)
  • Former Beatport CEO Matthew Adell has launched Metapop, a tool to help artists earn money from fan remixes. (Pulse, Mixmag)
  • SFX Entertainment’s remaining 36 employees in New York will made redundant in July but shows will go on as it hopes to emerge from bankruptcy. (NYPost)
  • Kobalt’s revenues increased by 26% in 2015 to $245.1m. The company also recorded an operating loss of $24.5m and a loss after tax of $27.3m, up from $18.5m the previous year. (MBWMusicAlly) It finished the 2015 financial year with $90m turnover in the three months to end of June. Publishing revenues stood at $194.18m last year, up 16.5%, whilst its neighbouring rights division turned a profit for the first time, recording $935,000 on revenues of $20.86m (+27%).
  • SFX Entertainment will lay off about 50 employees in New York in July. (Billboard)
  • 7digital Group posted an operating loss of £3.1m for the year to the end of December - down from £4.5m the prior year. Net loss increased from £2.6m to £7.9m. Revenues of £10.4m were up from £10.2m in 2014 and gross profits increased to £7.1m from £6.0m. Content sales of digital downloads were down 44% to £2m in 2015. (II, 7Digital)
  • Spotify has raised $1bn in convertible debt from investors, a deal that extends its runway but comes with some strict guarantees, sources said. (WSJ, Billboard, TechCrunch) Spotify indicated to new investors it plans to go public in the next two years. WSJ claims Spotify has $600m in the bank.
  • SoundCloud, with 175m registered users, is launching its long-planned subscription service, but for now the $9.99-a-month service will only be available in the US. SoundCloud Go will have a catalogue of more than 125m tracks. (GuardianBillboardTechCrunch)
  • A row over the future of music streaming service Pandora has led to the departure of its CEO Brian McAndrews and the return of the company's founder Tim Westergren to the position. (Pandora, Register, Billboard)
  • SoundCloud has confirmed last week’s story that it has signed a licensing deal with Sony Music. (NYTimes)  Sony's affiliated labels, including independents distributed by The Orchard and RED Distribution, are included in the deal. SME labels and artists will gain access to SoundCloud's promotional tools, analysis and data. (RotD)
  • Spotify hires Microsoft general counsel Horacio Gutierrez as its top lawyer. (Geekwire)
  • Digital music distribution service Tunecore has revealed a 47% increase in publishing revenue last year, fuelled by a 57% jump in sync revenues. (DMN)
  • PledgeMusic is to acquire US–based NoiseTrade and Set.fm. (RotD) NoiseTrade connects artists and labels with fans through the exchange of free music for data and Set.fm allows musicians to capture and instantly sell live performance recordings.
  • Robert Sillerman has asked a judge in SFX’s bankruptcy proceedings to pause an ongoing lawsuit against him while SFX’s chapter 11 process concludes. (Billboard)
  • In addition to unloading Beatport, a beleaguered SFX Entertainment is hoping to sell other non-core assets, including respected digital music marketer Fame House. (Hypebot, Billboard)
  • A motion filed in a US Bankruptcy Court suggests SFX will sell Beatport. “While the Beatport Assets are valuable to the SFX enterprise, given SFX’s current financial condition, SFX cannot afford to make additional investments in Beatport as may be needed in the future, and therefore, has decided to sell the Beatport Asset”. (KCC)
  • Magna Entertainment, a division of the investment firm Magna, has taken a “major position” in PledgeMusic. (PRNewswire) The size of its investment remains undisclosed.
  • Universal Music Group’s revenues were €5.11bn in 2015, up 2.7% at constant currency. Revenue was up 12.1% as reported by Vivendi. Subscription and ad-supported streaming revenues grew 43% to €954m. Recorded music revenues were up 2.4% to €4.11bn. Music publishing revenues rose 3% to €756m. Streaming and subscription services accounted for 24% of UMG's total recorded music revenues in the second half of the year, double its share in the first half of 2015. (Billboard)
  • Imagem Production Music is rebranding to Cavendish Music following Cavendish Music’s acquisition by ole. (BusinessWire)
  • SFX’s bankruptcy filing provides detailed finance information, showing a company falling short. (Billboard) Predicted revenues of $500m in 2015 were actually $337m, which meant predicted profit of $60m-$70m became a loss of $18m. Beatport saw revenue fall from $46.5m in 2014 to $39.1m in 2015, turning a $7.1m profit to a $5.5m loss.
  • Warner Music Group reveals it will share with artists any proceeds from the sale of its equity stake in music streaming companies. (Billboard, Bloomberg, MBW) Sony Music has followed with a similar statement.
  • Nocturnal Tour Management and Rooted Touring have merged to produce Nocturnal Touring and Rooted Productions (NTRP). They are the biggest combined Electronic music touring and production company in the UK.
  • Many of SFX Entertainment’s largest creditors are SFX-owned promoters awaiting deferred purchase price payments, according to a 476-page creditor matrix seen by IQ.
  • SFX has been granted access to $80m of $115m debtor-in-possession financing, a form of financing during a bankruptcy that has seniority over other debt. (Billboard)
  • SoundCloud, which has 175m monthly listeners, has reported that in the year to the end of December 2014 it made a loss of €39.1m on revenues, which rose 54%, of €17.4m. (FT, Billboard, MusicAlly) The auditor said that the need for additional funding represented “a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern”.
  • BMG has invested in Ram Records, with the aim to help the drum & bass label grow in the UK and internationally. (RotD)
  • Faction Entertainment, a new music management business founded by former INgrooves principle Robb McDaniels, has launched with six founding manager clients. (Billboard)
  • Streaming company Guvera lost AU$81m (£39.4m) last year on revenue of AU$1m, but claims a AU$1bn (£487m) valuation. (AFR)
  • SFX has filed for Chapter 11 reorganisation in order to restructure its debt. Robert Sillerman will be replaced as CEO but will remain chairman of the bankrupt company. (Billboard, iQ, NYTimes) Subsidiary Beatport is assuring partners and consumers of a ‘business as usual’ approach.
  • Ninja Tune has announced expansion of its international department with new staff in Germany and France. (RotD)
  • SFX Entertainment has settled a lawsuit which alleged that chairman and CEO Robert Sillerman stole three early partners' ideas for the consolidated EDM promoter that became SFX. (Billboard)
  • SFX Entertainment’s share price fell by 13.71% on the New York Stock Exchange on Wednesday (Jan 27). (MBW)
  • Raoul Chatterjee has joined SoundCloud as Director of Content Partnerships. (RotD) He was previously SVP of Music at 7digital Group.
  • Spotify has acquired two companies. (RotD) Firstly, Cord Project, which designs and build products exploring audio on connected devices. Secondly, Soundwave, which focuses on developing innovative technology and products to aid music discovery.
  • Prolifica Management has added a writer/DJ/producer division and new staff members. (RotD)
  • SFX Entertainment has raised $20m "for itself and certain of its operating subsidiaries, obtaining capital for its working and general corporate purposes". (Billboard)
  • Sydney-based dance label Hussle Recordings has announced a new ‘strategic partnership’ with Universal Music Sweden. (MBW)
  • SFX Entertainment -20.7%, receives default notice. (Seeking Alpha)
  • SoundCloud has confirmed that the company secured a line of credit, which a Swedish news outlet reports at $32m, with an option for another payment double that of the original. (BillboardTechCrunch) SoundCloud CEO Alexander Ljung said the agreement will "expand revenue opportunities, improve the accuracy of royalty distributions, and launch new services for our 175m monthly active listeners."
  • SoundCloud has signed a multi-territory licensing agreement with Universal, covering the company's recorded-music division and its publishing group, in preparation for the platform's subscription model roll-out later this year. (RotDSony is the only major label not to have signed a licensing agreement with the platform.
  • SFX Entertainment has announced a settlement with Spotify, the result of a breach of a $10m recoupable advance and licensing agreement caused at least in part by CEO Robert Sillerman’s own failure to fund a $15m investment in SFX. (Pollstar)
  • AudioBoom, which allows users to share online sound clips from music and audiobooks by embedding them into their own websites, had just £50,000 in sales in the first half of the year, sending the AIM share price down 24%. (FT) The company expects to become profitable in 2017 based on current user growth.
  • Songkick has raised a further $10m in funding from previous backer Access Industries. (TechCrunch, Billboard, Songkick)
  • It has been reported that James Barton of Live Nation will be moving to American events company SFX Entertainment in a “senior role”. (Mixmag)
  • Jukedeck, a music composition system, has raised £2m in venture capital funding to accelerate its growth. The company aims to cater for online video makers by providing an original, royalty-free soundtrack, which is sold at £5 per track. (FT, TechCrunch)
  • Booking agency Elastic Artists remains on the verge of administration, with some artists unpaid for four weeks and many agents leaving the company. (ResidentAdvisor)
  • !K7 has announced a new global services and neighbouring rights management partnership with Anja Schneider and Berlin-based electronic music imprint Mobilee Records. (RotD)
  • EDM promoter SFX has hired an investment bank to explore options for selling non-core assets and reducing debt load. (Billboard)
  • Dance music booking agency Elastic Artists has held back payments from its artists after hitting what it describes as "financial difficulties." (HBF) Manchester collective Levelz have hijacked the Facebook and Instagram pages of the company in apparent retaliation. (Fact)
  • Dutch mogul John de Mol, revered in the Netherlands for producing reality television shows such as Big Brother, Fear Factor, and The Voice of Holland, is currently in talks to purchase ID&T from its parent company, SFX. (Dancing Astronaut)
  • Australia's record industry is on track to return to growth for the first time since 2012 with digital revenues accounting for more than two-thirds of sales and the contribution from streaming services doubling for the second year running. (SMH)
  • Raoul Chatterjee, 7digital’s SVP Music, is said to have been appointed to cover European industry relations at SoundCloud, based in London. (MBW)
  • UK booking agency Elastic Artists, home to Danny L HarleDixon and Leon Vynehall, is reportedly set for administration. (Fact)
  • TuneCore's Q3 results show sales and streams rose by 90% year-on-year, though payouts to artists only rose by 6.1% to $34.7m. (IBT)
  • Crowdmix, the soon-to-be-launched music-focused social networking app, has appointed Dick Wingate as President, Artist & Entertainment Services for North America. (RotD)
  • Discogs has hit $43m worth of sales this year, with vinyl accounting for 79% of sales on the online retailer. (Mixmag)
  • SFX Entertainment is apparently nearing bankruptcy after a poor third quarter. (Dancing Astronaut)
  • Robert FX Sillerman has withdrawn his latest offer to buy back the remaining pieces of his concert promotion company SFX Entertainment, according to a filing with the SEC. (Billboard)
  • Pandora and Sony/ATV Music Publishing have announced a multi-year licensing agreement for Sony/ATV’s catalogue of musical works. (BusinessWire, Billboard)
  • For the first nine months of the year, SFX's revenue grew 18.6% to $306.5m, or 34% at constant currency. Net loss increased to $144m from $86.4m. Event attendance during the nine-month period increased 34.8% to 4.08m. (Billboard) Third quarter revenues declined $111.2m, down from $114.7m in 2014.
  • The Music Business Association has partnered with the Association for Electronic Music (AFEM) to launch the Electronic Music Workgroup. (MBA) It plans to give representatives from throughout the electronic music sphere a place to "gather and discuss ways to streamline commerce for DJs, producers, and rights-holders for DJ mixes, remixes, mashups, and original tracks for both live and online content."
  • James Sealy, the former Chief Operating Officer of Three Six Zero Group, has joined Bkstg to launch an artist-to-fan mobile app in late fourth quarter. (Billboard)
  • Deadmau5 has filed a lawsuit claiming tens of millions of dollars in damages over unauthorized remixes and mashups that he asserts have violated among other things, his moral rights. (Billboard)
  • Barclays Center in Brooklyn has inked a name-in-title sponsorship deal with subscription streaming service Tidal that will see the arena’s theater configuration operate as the Tidal Theatre. (Billboard)
  • SFX has received indications of interest from multiple parties that are exploring a potential buyout of the company. (Hypebot)
  • eMusic, one of the Internet's first digital music stores, has been sold to cloud media startup TriPlay. (Billboard)
  • Australia’s copyright collecting society, APRA AMCOS, has reported a record figure for music royalty collections – A$300m – and noted a 26% increase in royalties received from foreign sources for Australasian music. (RotD)
  • Pitchfork Media has been acquired by publisher Condé Nast for an undisclosed amount. (Fact)
  • Sony Corporation is taking steps to sell off its half of music publishing unit Sony/ATV Publishing. (Dancing Astronaut)
  • SFX Entertainment saw its stock soar almost 11% after an analyst said shares of the electronic dance music promoter are way undervalued relative to peers. (NYPost)
  • Robert F. X. Sillerman has submitted a new proposal to take SFX Entertainment private again. (Billboard) Sillerman, who is chairman and CEO of the company, would buy out remaining stockholders for up to $3.25 per share in cash.
  • SFX Entertainment has extended a deadline for offers to buy all or parts of the company to 14 October. (NYTimes, Mixmag)
  • SFX Entertainment is considering selling off some assets at fire sale prices. Assets being considered for include online music store Beatport, ticketing company Flavorus and a number of international festival producers. (BillboardFact)

  • Australian independent label Future Classic (home to Flume and Chet Faker amongst others) has partnered with Caroline International for the distribution of its catalogue. (RotD)
  • SoundCloud’s rumoured imminent deal with Universal Music Group is now on ice, according to sources. (DMN)
  • SFX Entertainment has received $90m in financing this week. (Mixmag)
  • Universal Music has taken a 50% stake in the Enchanted Valley Carnival in India. (BusinessStandard)
  • Ministry of Sound CEO Lohan Presencer has called for Apple Music to create a business model for third-party playlist creators, while warning fellow independent labels to beware of majors’ attempts to “manipulate” the system. (MusicAlly)
  • SFX Entertainment has raised $90m in new financing from new and existing investors. (Billboard) An unnamed institution investor purchased $30m of senior preferred stock. Sillerman Investment Partners III LLC purchased $15m and has an obligation to purchase an addition $15m over the next 30 days. $30m comes from the company's revolving credit facility from GoldenTree Asset Management.
  • SFX’s share price dropped by another 7.96% to $0.46 per share at the end of trading on Friday (September 4). (MBW) That equated to an SFX market cap of $44.94m – less than half the valuation it attracted a month prior.
  • In its latest filing for 2014, Shazam had revenue of £36m with an operating loss of £13.8m and a net loss of £14.8m. Revenue increased 113%, but total expenses grew 126% and net loss increased 158%. (Billboard)
  • Sillerman’s failed bid, debts and growing losses test SFX investors’ patience. (NYTimes)
  • SoundCloud is apparently on the verge of agreeing a licensing deal with Universal Music Group, according to reports. (Fact)
  • The stock price of SFX Entertainment continues to fall, on August 20 it was down 24% to $0.79. Wall Street's Seeking Alpha suggested that SFX was running out of cash and likely headed to bankruptcy.
  • Digital distributor EPM will cover payments in the interim until Beatport releases the royalties in a few weeks’ time. (Mixmag)
  • Revenue generated through ad-based music streaming is set to exceed US$1bn by 2017, up from US$782m in 2015. (Reseller, CNet)
  • SFX's Q2 revenue grew 48% to $121m from 29 festivals and 238 other events. Net loss in the quarter grew 36% to $48m. Net loss in the six-month period ending June 30 improved 2% to $89.6m. Festival attendance grew 38% to 1.1m. The 13 festivals also owned by SFX in the previous second quarter experienced attendance growth of only 3%. . (BillboardBusiness WireForbes)
  • SFX shares drop to an all time low of $2.03 as CEO Robert F.X Sillerman misses deadline to prove that he could finance his promise to take the company private again. (Hypebot)
  • SoundCloud has hired DeJuan Wilson as Vice President Of Global Marketing And Brand. (MusicWeek)
  • Rumours suggest that more senior staff at Tidal, including SVP Label and Artist Relations Zena Burns, have quit. (Hits)
  • Robert Sillerman’s SFX is facing a potential $100 million lawsuit from former business partner Paolo Moreno. (Dancing Astronaut)
  • A judge denied Robert Sillerman's request for summary judgment in the lawsuit filed last year by three men claiming Sillerman took their idea and work toward building SFX Entertainment before cutting them out. (Billboard)
  • Labels and artists who sell their work through Beatport received a letter telling them their money is "trapped" within the corporate structure of SFX, the parent company. Creators were told they would be paid "in the next few weeks" by the service. (BillboardMBW) Reports suggest it has paid 'trapped' royalties to majors, but indies left high and dry. (Music Week) Small labels have raised cash flow concerns, as the payment covers April-June payment. Anyone who uploads to Beatport's UGC streaming platform only receives 5% of income, or 10% on the Beatport Mixes platform.
  • Alibaba, the Chinese web commerce giant, has announced the formation of a division to focus on the music industry. (Billboard)
  • Recent reports are suggesting that SoundCloud could completely run out of money by the end of the year. (Fact)
  • The proposed sale of EDM promoter SFX has failed to attract any competing offers, putting the $490 million sale to its CEO one step closer to closing. (Billboard)
  • Azealia Banks has announced that she has split with her management company Prospect Park Management after less than a year together. (Billboard)
  • Flipagram, the photo, video and music sharing app, has closed a $70m funding round and announced global licensing deals with top record companies, distributors and music publishers, giving users access to millions of short music clips to use. (Hypebot)
  • SFX Entertainment has promoted Greg Consiglio to president and CEO of Beatport. (SeekingAlpha) SFX is also "pushing more of our operations to the local and regional levels around the world."
  • Facebook claims it has "no plans to go into music streaming", despite previous reports stating otherwise. (Billboard)
  • HMV has agreed a deal to open 15 shops across the Middle East and is also in talks about separate deals to expand into Australia, China, and India. (Sunday Telegraph)
  • LANDR has secured $6.2 million in a new round of funding, with investors including Warner Music Group, Pete Tong and Tiga. (Billboard)
  • Doppler Labs, who launched the Dubs mechanical ear plug and the Here Active Listening system, has announced a $17m round of funding, with investors including Live Nation, Universal and Warner. (TechCrunch)
  • David Guetta is facing a $6 million lawsuit for alleged copyright infringement. (Dancing Astronaut)
  • Apple Music has now signed publishing deals with both Merlin and Beggars Group. (Dancing Astronaut)
  • Kilimanjaro Live and Deutsche Entertainment are to launch MyTicket.co.uk which will be a purchase hub for all of their events in the UK with ties to the German arm of the DEAG group. (RotD)
  • Ministry of Sound and global entertainment and media service provider arvato Replication have signed an exclusive and longterm contract to produce discs for the global market. (RotD)
  • GiggedIn, Australia’s only crowdfunding platform devoted to live music, has secured $500k in a seed-funding round ahead of its global expansion. (TMN) It will be launching GiggedIn Infinite, which will allow subscribers to gain unlimited access to participating shows if they take out a $25 monthly subscription.
  • Apple Music have reversed their royalty policy, now agreeing to pay royalties to artists during the free trial period following heavy criticism from the industry. (XLR8R)
  • Following a successful 12-month trial in Ireland, HMV will once again be selling vinyl and CDs online. (FACT)
  • Nielsen unveiled heaps of data on the dance music industry at EDMBiz. (Dancing Astronaut)
  • Events guide and ticket agent Skiddle aims to improve the cash flow of up to 50,000 event promoters and organisers with a new direct payment service. (IndustryInsider)
  • It was rumoured that EDMbiz Startup Contest winner Clone Technologies, who have created software that automates live event streaming, had raised $1 million in funding, but this has since been proven to be untrue. (Digital Music News)
  • Live video streaming platform BE-AT.TV has announced the acquisition of non-commercial Ibiza radio station Ibiza Sonica, a leading online and FM radio station based upon the White Isle. (DataTransmission)
  • Tidal lost yet another CEO this week and continued to lose ground on its streaming rivals. (Dancing Astronaut)
  • EDM promoter SFX Entertainment (which also owns Beatport), is selling $15 million worth of stock to a separate company and another entity related to its founder, Robert Sillerman. (Billboard)
  • Annheuser-Busch, 7UP and T-Mobile are EDM’s biggest-backers, spending millions investing in DJs, festivals and more. (Dancing Astronaut)
  • The US music publishing industry experienced a drop in revenue to $2.14bn in 2014, a loss of 2.5%. (Billboard)
  • Independent label groups have slammed the Apple Music contract. (FACT)
  • PRS for MusicSTIM and GEMA, have been granted clearance from the European Commission to establish a pan-European online music rights licensing and processing hub. (Billboard) The one-stop service will enable faster and simplified rights negotiations for digital music services operating in Europe and will result in faster and more precise payments of royalties to rights holders, say the societies.
  • UK Music's economic study Wish You Were Here 2015 shows music tourism numbers in the UK increased by 34% between 2011 and 2014, with 9.5m people travelling to music events in 2014. These music tourists, attending live concerts and festivals in the UK, helped generate £3.1bn in direct and indirect spend. (RotDBBC)
  • Apple is now facing the prospect of a ‘massive withdrawal’ from a ‘very large group of indie’ artists and labels from Apple Music. (DMN)
  • Global Release Date will be begin on July 10 backed by a newly-created New Music Fridays brand. (RotDRotD)
  • Music-minded entrepreneurs have launched two new pressing plants in the US – Cascade Record Pressing in Oregon and Burlington Record Plant in Vermont. (Resident Advisor)
  • Moog Music owner and CEO Mike Adams has unveiled an employee ownership plan to gradually transfer the ownership of the company to staff. (FactNY Times)
  • new report by the IFPI and Music Canada has named London, Montreal, New York, Berlin, Austin, and Melboure as the best cities to adopt a vibrant music economy. (The Music)
  • Two of the technology startups trying to shake up the live music and ticketing market – Songkick and CrowdSurge – are merging. The new company will keep the Songkick brand, with the merger accompanied by a $16m funding round from three venture capital firms. (FTBillboardGuardianTechCrunch)
  • Nettwerk Music Group has acquired New York independent house label Maxi Records [artists on the roster include Sagat, Danny Tenaglia, Armand Van Helden, Roger Sanchez]. (MBW)
  • Smart Bar starts record label, Northside '82. (Resident Advisor)
  • Big Group has announced a partnership with Dancestar Ventures to develop the Dancestar Electronic Music Awards identity in global markets. (RotD)
  • A recent Forbes report has estimated that the top 100 clubs in America raked in $1.36bn in 2014. (Mixmag)
  • According ING Economists, the Dutch dance music industry is expected to hit a value upwards of €200m in 2015. (Deep House Amsterdam)
  • The contract SoundCloud is about to sign with US music publishers has been leaked. (DMN) Publishers are awarded a share of the greater of 10.5% of revenues from its free service or 22% of the cost of payments made for sound recording payments. DMN comments that advances in the contract "create some sticky potential issues with songwriters, including the possibility of not getting paid".
  • PRS for Music has extended the consultation period for Tariff LP which is applied to ticketed live popular music events. (RotD)
  • Duke Dumont has signed a management deal with Three Six Zero. (Music Business Worldwide)
  • SFX Entertainment is one step closer to going private, as chairman and CEO Robert Sillerman agrees to offer for the outstanding stock he does not already own. (BillboardLATimes)
  • Universal Music Publishing Scandinavia has extended its exclusive global publishing agreements with Axwell and Sebastian Ingrosso. (RotD)
  • Amsterdam club night Les Enfantes Terrible have launched their own label. (Fact)
  • The International Music Summit, currently being held in Ibiza, has published its annual report on the Electronic Music Industry.  (IMS - pdf) The worldwide industry is estimated to have grown 12% year-on-year to $6.9bn.
  • Kaskade and Los Angeles management company Little Empire Music announced they had obtained a minority ownership stake in Miami management firm Super Music Group. (Billboard)

About Mixmag

Founded in 1983 as a monthly newsletter for the nascent DJ scene in the UK, Mixmag has grown to become the world's leading dance music and club culture media brand, including the market leading magazine, YouTube original dance music content provider Mixmag TV, global digital hub Mixmag.net and the Mixmag Media Network.

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About IMS

IMS is an educational and motivational thought-leadership platform dedicated to electronic music primarily through the presentation of three global summits. IMS Ibiza takes place this week at the Hard Rock Hotel, Ibiza IMS Asia-Pacific takes place on December 10-11 at the W Hotel Sentosa-Cove, Singapore IMS Engage takes place on April 13 at the W Hollywood, Los Angeles

About RotD

Record of the Day has produced a subscription-based daily publication for the music industry for over 12 years, featuring all the best news and comment, along with an editorially-chosen future hit. Sign up for a free trial here.

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