Music publishers have just as big an impact on the music world as labels. Let’s take a look at five of Billboard’s latest top 10 publishers in figures and see how they’re making news:
10.3%: The percentage Sony/ATV Music Publishing, a UK division of Sony/ATV, grew last fiscal year with revenue of $66.4 million. The company is run by MD Guy Moot, who also runs SM Publishing. Together, the two companies had $72.3m in revenue and profit was $4.6m, a 12.6% increase. In Europe, downloads were 32% of digital revenue in 2016. Source: Music Business Worldwide
$520m: The amount ole, a Canadian indie music rights management company, said in September it spent on new acquisitions. An additional $500m in credit was secured for future acquisitions. The company’s latest partnership is with American Music Rights Association (AMRA), owned by Kobalt Music Group. By signing the deal, AMRA will have licensing agreements in place with more than 20 digital music services, although the deal does not include North America and some individual countries. AMRA believes the streaming market will mature in about seven years. Source: Music Ally
$2m: The amount The Carpenters are suing Universal Music Group over digital royalties. The lawsuit also applies to A&M Records. Richard Carpenter, suing on his behalf and the behalf of his sister’s estate, says his accountant discovered errors during an audit. In a statement, Carpenter said his family’s music, “continues to contribute a substantial amount to UMG/A&M’s annual bottom line.” The $2m is for breach of contract as well as breach of the implied covenant of good faith and fair dealing. Source: Rolling Stone and Variety
$100,000: The amount Cox Communications is seeking in legal fees from Round Hill Music. In 2016, Round Hill joined BMG to sue Cox, claiming the cable company didn’t do enough to prevent its customers from pirating music. Round Hill later dropped its lawsuit after it was revealed Cox didn’t have the rights to many of the songs named in the lawsuit. BMG was awarded $25 million in damages over 1.8 million instances of copyright infringement. Cox appealed in August, but the appeal was denied. Source: Fierce Cable
$650m: The amount for which Imagem Production Music was sold in 2014. There were no buyers. However, recently Imagem sold itself to ole for an undisclosed amount and was renamed Cavendish Music. Cavendish will continue to operate as a independent company under ole. The purchase adds 240,000 songs to ole’s library. In 2007, Imagem paid $150m for music assets and $240m for classical music publisher Boosey & Hawkes. The following year, it paid $225m to purchase music publisher Rodgers & Hammerstein. Source: Music Business World.
The world’s biggest publishers will be at Midem 2017. Find out more here…
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