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Industry Insight Alert! Universal Music Group (UMG) has just acquired a majority stake in Mavin Global, a powerhouse in Afrobeats. This move highlights the growing global recognition and potential of the African music industry, specifically Afrobeats. What can Kenyan entrepreneurs learn from this? ☑ Identify your unique identity Mavin Global's success stems from its focus on authentically African music (Afrobeats). Similarly, Kenyan businesses can leverage their unique cultural heritage and local insights to stand out in a global market. ☑ Think global, act local While aiming for international recognition, it's crucial to understand and cater to the needs of your local market. Mavin Global, despite UMG's involvement, is expected to maintain its local focus. ☑ Seek strategic partnerships Mavin Global's collaboration with UMG demonstrates the power of strategic partnerships in amplifying reach and resources. Kenyan businesses can explore partnerships with local or international companies to achieve similar growth. The success of Mavin Global serves as an inspiration for Kenyan entrepreneurs, demonstrating the potential of African businesses to thrive on the global stage. https://lnkd.in/geBXEPV2

Good start to 2024

“Sony Music Entertainment is set to acquire the catalog of legendary rock band Queen in a landmark deal worth GBP £1 billion (USD $1.27 billion at current exchange rates). That’s according to Hits, which reported on Wednesday (June 19), citing sources, that Sony Music has emerged as the winning buyer for Queen’s recording and publishing rights, as well as royalties from previous deals with Disney Music Group and Universal Music Group. Disney owns the band’s recorded music catalog in North America, while UMG has a global distribution agreement with Disney. Separately, Queen band members Brian May, Roger Taylor, and John Deacon – plus the Freddie Mercury estate – each own equal shares in the company Queen Productions Ltd, which owns the group’s recording catalog outside the US and Canada, Music Business Worldwide noted in a report last year. UMG, as Disney’s distributor, will reportedly retain distribution rights in North America, although Sony will receive the royalties. UMG’s worldwide distribution rights will then transfer to Sony in 2026 or 2027, making Sony Music the sole distributor and owner of all Queen content globally, Hits explained. The deal also reportedly includes name and likeness rights, opening doors for merchandise and other ventures. Meanwhile, Queen’s founding members, May and Taylor, who continue to tour with vocalist Adam Lambert, will reportedly retain control of revenue from live performances.” Read the full article for more: #Queen #SonyMusic #UMG #DisneyMusicGroup #UniversalMusicGroup #Music #MusicBusiness #Musica #MusicIndustry #Musique #Musik #MusicBiz #Creators #Artists

As the industry moves towards contributing significantly to the entertainment sector’s projected $15 billion outlook by 2025, the influence of record label CEOs becomes increasingly pivotal. In no particular order here are 10 record label CEOs driving the Nigerian music industry forward by enabling talents and scouting diamonds in the rough. https://lnkd.in/dJxertUs

https://lnkd.in/gd987Szu Few things illustrate that music is always political as effectively as this article does. Read Cherie Hu discussing the evolving landscape of finance & power in music rights and ownership.

Exciting times ahead for #Afrobeats and ultimately multiple genres of African music as Universal Music Group makes a strategic bet on Mavin Records 🌍 🎶. Best of all, by keeping the brilliant minds and business savvy of Don Jazzy and Tega Oghenejobo at the helm, the deal rewards and recognizes local leadership and the unique entrepreneurial talent and spirit that catapulted Mavin to success. It’s a true win-win. In addition to capital, Marvin gains access to UMG's vast distribution network, industry expertise, and partnerships. UMG gains major first-mover advantage, including direct access to more of the best of Africa's original, vibrant, and electrifying music – arguably the freshest and most exciting music on the global stage today, and likely for some time to come. The strategic alliance is also set to supercharge Mavin’s growth, with the potential to be a major hub for African music. With initiatives like the Mavin Artist Academy and the executive leadership program, we're not just talking one-off hits; we're talking about the potential for building an ecosystem that nurtures talent, promotes collaboration, and innovates for a growing and increasingly diverse global market for African music. From Afrobeats to Amapiano, this move is about amplifying African music, creating more opportunities for artists, and bringing the magic of African music to platforms and venues across #Africa and worldwide. Even more exciting times are ahead for African music. Where UMG and Mavin are leading, others are sure to follow! Here's to making history, breaking barriers, and building bridges. Let's go! 🚀 💫 #UniteInAfrica #AfricanMusicToTheWorld

🎶 Big news in the music world! Sony Music is set to acquire the legendary Queen music catalog, along with several other rights, for a staggering £1 billion (around $1.27 billion), sources confirm to Variety. This monumental deal, first reported by Hits, excludes revenue from live performances, which founding members Brian May and Roger Taylor will retain as they continue to tour with singer Adam Lambert. What do you think of this significant acquisition? Is investing in iconic music catalogs a wise move? Share your thoughts below! #Queen #MusicCatalog #SonyMusic #MusicIndustry #InvestmentOpportunity #IconicBands #MusicRights #BrianMay #RogerTaylor #AdamLambert #EntertainmentNews

The below is a guest post by Annabella Coldrick, Chief Executive, MMF (Music Managers Forum). The phrase “Government-led working group” will probably send your average Music Ally subscriber running to the hills, but tomorrow morning (April 18th) a crucial meeting takes place that should be of interest to everyone working in recorded music. It will mark the first time that UK music representatives have formally come together with the Government to discuss constructive reforms of how streaming revenues are distributed to artists, songwriters and other music makers, as well as other structural changes to industry practices. But will the voices of music makers actually be heard, or will the status quo be protected by corporate interests? The fact we’re sitting down at all is thanks to the UK Parliament’s Culture Committee and their response to the Fix Streaming campaign. The Committee’s landmark 2021 report brought wider attention to many of the fundamental inequities in the current label-centric model of music streaming, and recommended a “complete reset”of how that model operated. As a result, in September 2021 the UK Government committed to bring the industry together, to formalise a process of discussion and deliver results (or in their words “drive action”) on key issues, including equitable remuneration, contract transparency and platform liability. Two-and-a-half years later, and here we are. Progress has been slow. Read The Full Story Here: https://lnkd.in/eppmrzvF #MMF #MusicManagers #musically #musicnews #readmore

When Private Equity Came for the Music Industry: Private equity is cannibalizing the music industry by buying up old hits and pushing them back into our cultural consciousness. https://lnkd.in/epEE_cWH

UK Music Makes It Official, Appoints Tom Kiehl to Chief Executive of British Trade Body https://ift.tt/YlQ5uRn LONDON — Tom Kiehl has been announced as the new chief executive of UK Music, succeeding Jamie Njoku-Goodwin, who left the British industry trade body last year to work for Prime Minister Rishi Sunak. Kiehl has held the role of interim chief executive at UK Music since Njoku-Goodwin’s sudden exit in September. He has worked at the London-based umbrella organization, which represents all sectors of the United Kingdom’s music industry, since 2012 – initially working as director of public affairs before being promoted to deputy CEO in 2018. In a statement announcing Kiehl’s appointment, UK Music said it had received more than 130 applications for the role and had carried out an “extensive recruitment process” to find its new CEO.    “We are entering a critical new era of change for the music industry when the political landscape is also rapidly changing. At this important time, I’m confident Tom is the right person for the job,” said Tom Watson, UK Music Chair, in a statement. Related UK Music Returns Nearly $5 Billion to British Economy — But Competition Is Heating Up 11/07/2023 Watson went on to say that Kiehl “will be a tireless advocate for our members and our sector – using his wide range of talents to drive UK Music to even greater heights.” Kiehl’s promotion to the head of UK Music comes less than two weeks before the U.K. general election on July 4 when the country goes to the polls to elect a new government. Last month, Kiehl called on the leaders of all the main British political parties to support the U.K. music industry’s role as a “key national asset” that is facing intense global competition. To help grow the British music industry, which generated £6.7 billion ($8.2 billion) for the country’s economy in 2022 and supports 210,000 jobs, according to research commissioned by UK Music, the trade group wants policy makers to protect creators’ rights from being exploited by AI developers, as well as secure a cultural touring agreement with the EU to address many of the lasting issues caused by Brexit. UK Music also wants the next government to introduce a new tax credit to increase U.K.-based music production and establish tighter regulations for secondary ticketing platforms.     Related What the U.K. General Election Could Mean for the Music Business, Ticketing, AI and Big Tech 05/24/2024 Kiehl’s extensive experience of working with politicians and government officials means that he is well placed to try and achieve those aims. Prior to joining UK Music, the widely respected music executive worked in the Houses of Parliament for 11 years as a senior advisor and researcher for the Liberal Democrat party. More recently, Kiehl led a successful campaign to change planning laws to better protect grassroots music venues.  “It’s an immense privilege and great responsibi...