Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs.
There was a big shakeup at TikTok parent ByteDancethis week. MBW broke the news that Ole Obermann is departing as the company’s Global Head of Music Business Development after more than five years. Tracy Gardner will take over the role at the end of March. Our sources tell us that Obermann is headed to Apple Music.
Meanwhile, Warner Records inked a partnership with hip-hop and R&B executive Tim Hinshaw to launch a new label, Free Lunch Records.
Also this week, Sony Music Entertainment asked the court to dismiss a copyright lawsuit filed by Patrick Moxey’s independent publisher, Ultra International Music Publishing.
Meanwhile, Spotify CEO Daniel Ek cashed out another $31.5 million in company shares this week, bringing his total cash-out to $666 million over the past year and a half. Spotify stock hit another fresh record high on February 13, at $648.32 per share.
Speaking of Spotify, we got a glimpse this week into its long-awaited “super-premium” tier, which apparently will be branded ‘Music Pro‘ and will cost an additional $5.99 per month in the US. Among the potential perks: concert tickets, AI-powered remix tools, and high-fidelity audio.
There has been a gigantic leadership shakeup in TikTok/ByteDance‘s music team.
After five and a half years as Global Head of Music Business Development at ByteDance, Ole Obermann will be leaving the company next month for a new opportunity, still in music.
Following Obermann’s departure at the end of March, Tracy Gardner will be the new Global Head of Music Business Development at ByteDance.
TikTok has declined to comment, but our sources tell us that Obermann has lined up a big role at Apple Music, which likely has a business development element to it…
Warner Records has entered into a strategic partnership with prominent hip-hop and R&B executive Tim Hinshaw.
The deal marks the expansion of Hinshaw’s Free Lunch Agency — a creative and touring company — into the label space with the launch of Free Lunch Records.
According to an official announcement Wednesday (February 19), the collaboration allows Warner Records artists to leverage Free Lunch’s “extensive creative, touring, and sync services while establishing a new home for emerging talent.”
As part of this expansion, respected A&R executive Ericka Coulter has been named General Manager of Free Lunch Records in addition to her role as SVP, A&R at Warner Records…
Sony Music Entertainment has asked a court in New York to dismiss a lawsuit filed at the end of 2024 by Patrick Moxey’s independent publisher, Ultra International Music Publishing.
The lawsuit, filed in November on behalf of Ultra International Music Publishing LLC (UIMP) and Ultra Music Publishing Europe AG, accused SME of copyright infringement over Sony and its affiliates’ alleged use of Ultra’s compositions without a license.
A number of Sony‘s subsidiaries, including Ultra Records and AWAL, were named as defendants.
In a legal document filed by Sony Music‘s lawyers, the music company called the copyright action “an ill-conceived effort” to “retaliate against” Sony Music “for pursuing claims based on Moxey’s unauthorized use of the ULTRA trademark after SME bought Moxey’s share of Ultra Records from him in 2021…”
Spotify CEO and co-founder Daniel Ek continues to sell off portions of his stake in the streaming giant, capitalizing on the company’s soaring stock price.
Ek sold another 50,000 shares on Wednesday (February 19) for USD $31.5 million, or $630.56 apiece, based on the company’s closing price on Tuesday.
The sale, disclosed in an SEC filing, came just days after Spotify’s stock hit a new all-time high of $648.32 on February 13.
The latest sale marks Ek’s 14th since July 2023, and brings his total earnings from share sales to $666.1 million, with $376 million of that coming in 2024 alone…
Spotify‘s long-touted superfan tier appears to be taking shape – and could be launched this year.
Citing sources, Bloomberg reported last weekend that the streaming company is considering charging up to $5.99 more per month on top of a Premium subscription for access to a so-called ‘Music Pro’ tier, which would include various ‘superfan‘ perks.
An individual Premium subscription is currently priced at $11.99 in the US, following the most recent price rise in June 2024. This would bring the combined cost of a Premium subscription plus the Super Pro add-on to around $18 per month.
That price range correlates with what Spotify CEO Daniel Ek told analysts in July last year when he confirmed that the company was working on a pricier tier…
MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.Music Business Worldwide
