The proportion of concert box office is reduced by 7%, SM Entertainment is no longer exclusive, and Spotify users are expected to reach 1 billion in 2030
Organizer | Li Ying Editor | Fan Zhihui
06.06-06.12
big company
>> Chief Keef partners with RBC Records/BMG to launch new label 43B
· On June 6, American rapper Chief Keef launched a new label 43B in collaboration with the record label RBC Records/BMG [Forget Everyone]and announced his first artist signing – Atlanta-based rapper Lil Gnar.
Chief Keef has released multiple albums on RBC Records since 2014, including “Sorry 4 The Weight”, “Thot Breaker” and “Mansion Musick”.
43B [Forget Everyone]Ability to provide distribution and marketing services to musicians and producers, as well as the resources, guidance and infrastructure needed to grow the industry. The label will be helmed by Chief Keef’s longtime manager, Idris Dykes, as co-CEO.
>> Universal Music launches Virgin Music Label & Artist Services in Africa
· On June 7, Universal Music Group (UMG) launched Virgin Music Label & Artist Services in Africa, a label and artist services division, which will focus on supporting the new generation of independent musicians, labels, influencers, music players in the region company etc.
Launched in Africa, the new division serves over 15,000 songs from over 50 labels in 25 countries, including: Kesi Publishing (Panaf), Blue Diamond (Benin), Hope Music Groupe (CMR), Hitlab (Panaf) Hiquest (SNG), Yaye Boye (Fr).
UMG claims that the division “will combine support for African independent musicians and labels to digitally release age-old and near-out-of-print African music for the first time”.
>> TuneCore adjusts pricing structure, launches unlimited distribution plan
· On June 7, Believe’s DIY music publisher TuneCore overhauled its pricing structure for independent musicians and will launch a new “Unlimited Release Pricing Plans”.
For the first time in its 16-year history, TuneCore has given musicians and labels the ability to release an unlimited amount of music each year to services like Spotify and Apple Music for a single package year, bringing its pricing structure closer to rivals like DistroKid.
TuneCore’s new unlimited distribution pricing service covers four different annual packages including the “New Artist” plan, the “Rising Artist” plan, the “Breakout Artist” plan, and the “Professional” plan.
>> Tencent Music officially announced the renewal of in-depth strategic cooperation with SM Entertainment
· On June 7, Tencent Music Entertainment Group (TME) and South Korea’s SM Entertainment (SM Entertainment) jointly announced that they have renewed the copyright licensing strategic cooperation agreement based on their long-term and continuous close partnership.
In the next year, the two parties will continue to deepen their cooperative relationship. TME’s QQ Music, Kugou Music, Kuwo Music, and National K Song will be the only music platforms in China for the first 30 days. , SUPER JUNIOR, Girls’ Generation, EXO, NCT, aespa and other popular singers’ excellent music works.
>> Spotify expects to reach 1 billion users by 2030
On June 8, Spotify held its first investor day since 2018 in New York. Daniel Ek, CEO, Alex Norström, Chief Freemium Officer, Paul Vogel, Executive Vice President/CFO, and others gave live presentations.
Among them, chief freemium commercial officer Alexander Nordstrom said that in addition to music, podcasts and audiobooks, Spotify also plans to enter new types of content in the next 10 years, which will increase its average revenue per user. He said Spotify is on track to reach its goal of 1 billion users by 2030.
Daniel Ek said he “believes that Spotify will be a $100 billion-a-year revenue-generating company over the next decade” and promises high-margin returns from its podcast and audiobook expansion.
Dawn Ostroff, Spotify’s chief content officer, said the company has spent more than $1 billion on podcasts and expects podcast revenue this year to rise sharply from last year’s $215 million (200 million euros). She said the company is still in investment mode, but it sees podcasting as a $20 billion opportunity.
Ek expects podcasting to be in the 40% to 50% range and audiobooks to more than 40%, but he didn’t specify how long it would take the company to hit that target.
>> Universal Music and AI-driven music app Vera have reached an exclusive partnership
On June 9, Universal Music Group entered into an exclusive partnership with Vera, an AI-driven music app designed to serve people with dementia.
Vera was developed and launched by Music Health, a music health technology company. Through this partnership, Vera App users will have access to Universal Music Group’s entire music library.
Vera is currently available for download through the AppStore in Australia, Canada, New Zealand, the UK and the US.
>> NetEase Cloud Music announced that it has officially reached a cooperation agreement with South Korea’s SM Entertainment
On June 10, NetEase Cloud Music announced that it had officially reached a cooperation agreement with South Korean SM Entertainment.
NetEase Cloud Music has obtained a full amount of music copyright authorization under SM Entertainment, including works of many well-known artists such as An Qixuan, BoA, TVXQ, SUPER JUNIOR, Girls’ Generation, SHINee, EXO, Red Velvet, NCT, aespa and so on. In the future, both parties will give full play to their respective advantages and provide more high-quality music content for Chinese music lovers.
>> Siba Media transforms into an interactive social metaverse, reorganizes and changes its name to Meita Holdings
On June 10th, Shanghai Siba Culture Media Group officially announced the reorganization of its core business and corporate structure, and its holding company will be renamed META48 Holdings Ltd.
The core business of the group will be transformed into an immersive and interactive social metaverse oriented to the WEB3.0 and XR Internet era – META Metaverse, and will create and co-build an open metaverse world with users under the consensus of idol cultivation. , to provide a growth platform for real idols, digital virtual idols and idol groups to integrate virtual and real, and further develop it into a comprehensive metaverse immersive interactive social platform including entertainment, fashion, life and consumption.
At the same time, the original business segments of the group will be divided into Metaverse Fan Entertainment (SNH48 GROUP Yuan Universe Youth Girls Group and fans private domain traffic operation), Metaverse Visual Entertainment (creation of entertainment content such as film and television dramas, movies and variety shows), Yuan Universe The new consumption of the universe brand (fast-moving consumer goods and beauty trend brands) is the functional area, which continues to realize the integration of the three major sectors, and forms a multi-dimensional supporting and two-way embedding with the core business of the Cosmos universe.
capital market
>> Songtradr announces acquisition of AI metadata and music search company Musicube
· On June 7, B2B music licensing company Songtradr announced the acquisition of Musicube, an AI metadata and music search company.
Musicube’s database is located in Hamburg, Germany, including more than 50 million song titles, and more than 500 keywords (such as mood, musical characteristics, lyric content, etc.), which can provide so-called “large-scale original metadata”. Songtradr said Musicube uses neural networks and proprietary artificial intelligence technology to help match music to content and brand target audiences.
Songtradr has a team of over 350 people with offices in 12 countries around the world. In addition to Musicube, Songtradr’s music companies include Massive Music (acquired in June 2021), Big Sync Music (acquired in February 2019) and Song Zu (acquired in March 2021).
>> IndieFlow announces $4 million investment
On June 7, music tech startup IndieFlow announced a $4 million investment, which it bills as “an operating system for independent music creators.”
The round was led by State of Mind Ventures, with participation from Oryzn Capital, Or Perry (co-founder of StreamElements), 5 Eyes Venture, TechStars and Moshe Gaon.
Founded in 2020 as an all-in-one operating system for the music industry, IndieFlow claims “thousands of musicians” have signed up to use its platform.
IndieFlow claims to be the “Shopify for musicians” and it “centralizes all the business aspects a musician needs to handle”, covering distribution to streaming platforms, payment and royalty aggregation, data tracking, scheduling, promotions, project management, venue bookings and team collaboration.
>> Anotherblock completes a new round of financing of 2.5 million US dollars
· On June 8, Web3 music platform Anotherblock announced the completion of a new round of financing of $ 2.5 million.
The round was led by Nordic venture capital firm Inventure, with participation from Centrifuge.io founder Maex Ament, Dune.xyz’s Fredrik Haga and blockchain research and investment firm StableNode. In addition, a group of producers and artists, including Grammy-winning producer DannyBoyStyles, also participated in this round of financing, as well as copyright owners and record companies that participated in the previous round of financing.
Founded in 2021, Anotherblock is a web3 platform for fans to invest in music by buying NFTs, aiming to make “investing in music easier and easier”. By linking music rights with NFTs to create a smooth and secure way to trade music rights, the company plans to offer its first NFT later this year.
>> Songistry raises $5 million in funding
Songistry, a Los Angeles-based AI music technology company, has raised $5 million on June 9, valuing the company at $20 million.
The company, which primarily licenses TV/movie, commercials and games to music creators, claims its “workflow allows licensees to use proprietary AI to accurately identify music”. Songistry says it currently holds more than 100,000 licensable copyrights.
Songistry said the financing will further advance its growth strategy to “become one of the leading forces in the music simultaneous licensing industry.”
data control
>> In 2021, the box office of the performance market will increase by 83.11% year-on-year, and the proportion of the concert box office will decrease by 7%
On June 6, the Lighthouse Professional Edition released the “2021 China Performance Industry Data Insight Report” (hereinafter referred to as the “Report”), showing that the national performance market will usher in a rebound in 2021, with a year-on-year increase of 83.11% at the box office, and the average box office in 2021. It was 74,000/game, a decrease from 115,000/game in 2019.
The “Report” pointed out that professional theater performances have become the main force of the market rebound. Judging from the box office revenue data of sub-categories, indoor professional theater performances such as dramas and operas will recover well in 2021, and the children’s drama category will even increase by 5% compared with 2019. Affected by the epidemic, concerts and music festivals have been hit hard, and the box office share has been reduced from 21% in 2019 to 14% in 2021.
In the overall performance market, first-tier cities occupied the first place with 58% of box office revenue, especially in the category of professional theater performances. With the development of various tier cities and changes in the performance market, the box office of second- and third-tier cities in sub-categories such as concerts and music festivals has surpassed that of first-tier cities.
Looking at the national performance market, the top five cities in terms of overall performance revenue are Shanghai, Beijing, Suzhou, Guangzhou and Hangzhou. Among the top five cities, Beijing, Shanghai, and Suzhou have obvious consumer preferences in terms of market demand. Shanghai is in the leading position in music festivals, livehouses and theater categories, while Suzhou has become the largest “ticket warehouse” city for new concerts.
Artist dynamics
>> Primary Wave acquires all rights to Julian Casablancas, frontman of rock band Strokes
· On June 6, the music rights agency Primary Wave Music acquired all the rights to Julian Casablancas, the lead singer of the rock band Strokes.
In what is said to be a “multi-million dollar deal”, the company said it would acquire Julian Casablancas’s “share of the music and lyrics of all works, as well as the mastering rights”.
The deal includes some of Julian Casablancas’ biggest hits, including “Last Night,” “Reptilia,” “Someda,” and “Hard to Explain.”
>> Zara Larsson buys back the recording rights and sets up her own label
On June 6, Swedish pop star Zara Larsson bought back the rights to her entire recording.
According to a statement, the artist entered into a so-called “unique deal” with TEN Music Group CEO Ola Håkansson and now “has control over the rights to her entire recording.” Larsson signed with the Swedish indie label in 2011, and her library has been played more than 9 billion times.
At the same time, she also announced that she will launch her own label, Sommer House. The label will be licensed through Epic USA, with Sony Music Sweden responsible for all of Zara Larsson’s upcoming releases.
live entertainment
· On June 6th, the official lineup of the Galaxy Ark Online Music Festival: Chen Li, Man Shuke, Yu Jiayun, Deadwood Fengchun, Captain, Shen Yicheng, DP Longzhu, Deng Dian Music Festival will be shaking from June 11th to 12th sound broadcast.
· On June 9, Wang Jiaer officially announced that he would be the opening performance guest to attend the 2022 Bangkok Century Cup Liverpool-Manchester United game held in Bangkok, Thailand on July 12 this year, bringing the opening show.
· On June 10, Hainan Strawberry Music Festival officially announced that the music festival will be held in Wanning Riyue Bay Scenic Area, Hainan from July 2 to 3. The specific lineup will be announced.
Recommended this week
· On June 6, Mao Buyi released a new single “The Farthest Place to See”. The single was written by Yao Ruolong and composed by Chen Xiaoxia, and was released by Galaxy Ark.
· On June 6, Jin Zhiwen released a new single “My Favorite Person”. The single was written and composed by Jintian Peter King and released by Warner Records.
· On June 6, Da Zhangwei released a new single “To Heart”, which was written and composed by Da Zhangwei and released independently.
· On June 9, Xue Zhiqian and Zhang Jingying jointly released a new single “Ke”. The single was written and composed by Xue Zhiqian and released by Chaoshi Music.
· On June 9, Kafe.Hu released a new album “46A” with a total of 11 songs, which was released by Modern Sky.
· On June 9, Halsey released a new single “So Good”, which was written and composed by Ashley Frangipane, Sarah Aarons, Sammy Witte and released by Capitol Records.
· On June 10th, Yu Gengyin released a new EP “Dream Primarch”. The EP has a total of 3 songs and was released by Hangzhou Lexin Culture.
· On June 10, Sun Shengxi and KIRE released a new single “jagi”. The single was written and composed by Sun Shengxi and KIRE, and was released by Rolling Stone Records.
· On June 10, BTS (Bulletproof Youth League) released a new album “Proof” with a total of 35 songs, released by BIGHIT MUSIC.
· On June 10, The Chainsmokers, Ship Wrek released a new single “The Fall”, the single was written and composed by Alex Pall, Andrew Taggart, Ian Kirkpatrick, Tillis Churchill III, Collin Maguire, Emily Warren, and released by Sony Music.
· On June 10, Hard Candy Girl 303 released a new single “Follow Me”, the single was written by Fan Fan, Hard Candy Girl 303 Zheng Naixin, Josefin Glenmark, Peg Parnevik, Michael Fatkin, Josefin Glenmark, Peg Parnevik, Michael Composed by Fatkin, published by Tencent.
· On June 10th, XXXTENTACION released a new album “LOOK AT ME: THE AlBUM.”, with a total of 25 songs, released by Sony Music.
Typography | Anlin
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