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Executive Turntable: UK Music Appoints New Chair, BMGPM Names Sony/ATV Vet as Co-Head

UK Music, the umbrella organization representing the interests of the UK’s commercial music industry, has appointed former Shadow Culture secretary and Labour Party deputy leader Tom Watson as its new chair, it was announced Monday (March 30). He succeeds outgoing chair Andy Heath. “UK Music speaks with a powerful voice for the whole of the...

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Mike Smith Stands Down As Warner Chappell UK Managing Director

LONDON — Mike Smith is standing down as managing director of Warner Chappell U.K. with immediate effect. The widely-respected exec said “family reasons” were behind his surprise exit from the publisher. “My time at Warner Chappell has been hugely rewarding and I want to thank all of my colleagues around the world, and the amazing...

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TikTok Now Has Short-Term Licensing Deals With the Major Labels

The popular app now has agreements with Universal, Sony and Warner, but some publishers are discussing a lawsuit. TikTok has struck short-term licensing deals with Universal Music Group, Sony Music and Warner Music Group, multiple sources tell Billboard, as the rapidly growing video-making app continues to establish itself in the music industry. But it still...

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Kobalt Revenue Up 35% Even as Losses Widened in 2019

The company says it’s “aiming for future growth and profitability” and has enough capital to invest in its staff and clients during the coronavirus crisis The Kobalt Music Group lost $56.78 million on revenues of $543.44 million for the year ended June 30, 2019. While that performance represented a widening of losses from the prior...

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Universal Music Group Announces Coronavirus Support Initiative

As the coronavirus pandemic continues to shut down thousands of businesses around the country and keep millions of people confined to their homes around the globe, the Universal Music Group today (March 30) announced a multi-million dollar initiative intended to support its artists, songwriters and employees over the next several months. On a base level...

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UK Managers & Artists Call for ‘Recoupment Holidays’ From Major Labels During Coronavirus Shutdown

LONDON — Major record companies and publishers are facing increasing pressure to do more to support musicians and songwriters who have seen their livelihoods wiped out by the coronavirus pandemic. Leading the call in the United Kingdom are trade organizations Music Managers Forum (MMF) and Featured Artists Coalition (FAC), who are asking labels and publishers...

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TuneCore CEO Scott Ackerman Announces Departure

Indie distributor TuneCore announced today that longtime CEO Scott Ackerman has decided to step down, effective April 15. He’ll stay on in an advisory role reporting to Denis Ladegaillerie, CEO of owner Believe Group, the company said. A search for a new CEO is underway. Ackerman joined TuneCore in 2010 as COO and has run the...

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How Music Companies Are Giving Back During the Coronavirus Pandemic (Updating)

Now that the coronavirus pandemic has forced a virtual shutdown of cities across the U.S., people nationwide are taking a massive financial and emotional hit from the growing outbreak. The music industry is no exception, with venues shuttered, artist tours derailed and major festivals postponed or cancelled altogether. With desperation increasing by the day, agencies,...

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Coronavirus Causes Dip in Streaming, But Catalog & Kids’ Videos Are Bright Spots

Overall music streaming was down by 1% last week. Music industry executives hoped that the coronavirus quarantines might buoy music streaming activity with so much of the population isolated indoors. So far, the opposite has occurred. The industry saw a dip in music streaming — down by 1% to 25.3 billion streams from 25.55 billion...

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BMG Revenues Grow By 10% as Owner Bertelsmann Says It’s ‘Well Prepared’ to Survive Coronavirus Crisis

Digital sources made up 56% of the label and publisher’s revenues, up from 52% in 2018. LONDON – BMG parent company Bertelsmann says it is “well prepared to emerge safely” from the current coronavirus crisis with group revenues rising to €18 billion ($19.3 billion) in 2019. BMG contributed €600 million ($645 million) to that total,...

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