WEDNESDAY 12 DECEMBER 2018 COMPLETEMUSICUPDATE.COM
TODAY'S TOP STORY: Tencent Music has priced its shares at the bottom end of the expected $13-$15 price range as the music division of Chinese web giant Tencent arrives on the New York Stock Exchange today... [READ MORE]
Available to premium subscribers, CMU Trends digs deeper into the inner workings of the music business, explaining how things work and reviewing all the recent trends.
   
CMU TRENDS GUIDE TO MUSIC MARKETING
This five part guide provides an overview of how new artists go about building a fanbase and the basics of label-led album marketing campaigns. Keep track of the sections published so far online and look out for additional chapters going live very soon. [READ MORE]
   
CMU TRENDS GUIDE TO MUSIC RIGHTS
This three part CMU Trends guide provides a beginner's guide to music copyright and the music rights business. In it, we cover ownership, controls and licensing, and review key trends in streaming, physical, sync and public performance. [READ MORE]
TOP STORIES Tencent Music IPOs at bottom end of expected price bracket
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LIVE BUSINESS Neil Young claims Barclaycard has been dropped as sponsor of his London show
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ARTIST NEWS Tegan & Sara announce high school memoir
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RELEASES Amanda Palmer announces new album, There Will Be No Intermission
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GIGS & FESTIVALS Cher announces first UK tour since 2004
Maverick Sabre announces new album and tour dates
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ONE LINERS Fyre Festival, MJ Cole, Suede, more
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AND FINALLY... Dean Martin's daughter says Baby, It's Cold Outside controversy is "outrageous"
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CMU Insights is our training and consultancy business providing training courses, conference sessions and research reports for music companies.
   
KEY DEVELOPMENTS IN MUSIC RIGHTS MASTERCLASS
Wednesday 12 Dec 2018, 2.00-5.30pm
This half day masterclass provides a concise and user-friendly overview of all the key developments that have occured in music copyright in the last twelve months. [READ MORE]
   
DISSECTING THE DIGITAL DOLLAR MASTERCLASS
Wednesday 16 Jan 2018, 2.00-5.30pm
This half day masterclass provides a comprehensive overview of the streaming business, how digital services are licensed, and the key issues with the current model. [READ MORE]
Check out all the latest job opportunities with CMU Jobs. To advertise your job opportunities here email advertising@unlimitedmedia.co.uk or call 020 7099 9060.
   
ROYAL ALBERT HALL - HEAD OF PROGRAMMING (LONDON)
The Royal Albert Hall is seeking an experienced and motivated Head Of Programming to strategically develop and produce the diverse range of programming at the Hall.

For more information and to apply click here.
   
JUNO - MUSIC BUYER & PRODUCT RESEARCHER (LONDON)
Juno is one of the world's largest online music and equipment stores. We are looking for a music buyer and product researcher to develop our vinyl range, and identify new business opportunities.

For more information and to apply click here.
   
OUTPOST - MUSIC PR ACCOUNT DIRECTOR (LONDON)
Outpost is looking for an exceptional Music PR Account Director with a minimum of three years music PR experience. This role will position you at a senior level at Outpost and give you the opportunity to contribute to the overall business in a significant way.

For more information and to apply click here.
   
NINJA TUNE - BUSINESS AFFAIRS ASSISTANT (LONDON)
Ninja Tune are hiring for a full-time business affairs administration position within the record label and publishing company, based in its London office.

For more information and to apply click here.
   
KOBALT MUSIC GROUP - DIGITAL MARKETING MANAGER (LONDON)
Kobalt is looking for a Digital Marketing Manager to join its recordings division AWAL and work with its growing roster of emerging and already established talent from all over the world.

For more information and to apply click here.
   
BOUTIQUE MUSIC PUBLISHING COMPANY - NEW BUSINESS ROLE (LONDON)
This boutique music publishing company is looking for a motivated and energetic new business person to join on a two/three day a week basis.

For more information and to apply click here.
   
PHILHARMONIA ORCHESTRA - DIGITAL MARKETING MANAGER (LONDON)
The Philharmonia Orchestra is looking to appoint a Digital Marketing Manager. This is a new role, designed to drive ticket sales and audience growth across the Orchestra’s exciting live programme, utilising digital channels.

For more information and to apply click here.
   
PHILHARMONIA ORCHESTRA - CONTENT PRODUCER, EDUCATION & ENGAGEMENT (LONDON)
The Philharmonia is looking to develop its online learning profile and offer for young people, students and teachers, building on its significant reputation and existing catalogue in this field. As such, we are recruiting a new role to work across the Digital and Education teams to research, develop and produce content.

For more information and to apply click here.
   
DREAMLAND - EVENTS MARKETING MANAGER (MARGATE)
The role of Events Marketing Manager is a pivotal and crucial role to the success of Dreamland Margate. This is a really exciting opportunity for an event marketer to join a growing business.

For more information and to apply click here.
   
BELIEVE - DIGITAL CONTENT INTERN (LONDON)
Believe has an exciting new opportunity for an eager creative to join as the Digital Content Intern to work across the digital marketing and video team. The candidate will be creating assets to support Believe's artist and label campaigns and also its YouTube channel clients.

For more information and to apply click here.
   
INGROOVES MUSIC GROUP - MANAGER, DIGITAL ACCOUNTS (LONDON)
The position of Manager, Digital Accounts at INgrooves is responsible for generating revenue growth at key accounts in the digital music industry outside of the Americas. You will work closely with label representatives, marketing information and various data sources to ensure maximum visibility for our key projects.

For more information and to apply click here.
   
SENTRIC MUSIC - SYNCHRONISATION EXECUTIVE (LIVERPOOL)
Sentric Music is looking for a Synchronisation Executive to join its Music Services Team. Based in the creative area of the Baltic Triangle in Liverpool, the Synchronisation Executive will be part of our growing Sync Team consisting of fifteen creatives in the UK and US.

For more information and to apply click here.
   
NINJA TUNE - SENIOR PRODUCT MANAGER (LONDON)
Ninja Tune is looking for an experienced product manager working across our main imprints Ninja Tune and Counter Records. You will manage record release campaigns from beginning to end working closely with the A&R, production, marketing, digital, social media and international teams.

For more information and to apply click here.

Tencent Music IPOs at bottom end of expected price bracket
Tencent Music has priced its shares at the bottom end of the expected $13-$15 price range as the music division of Chinese web giant Tencent arrives on the New York Stock Exchange today.

That means the company will raise about $1.1 billion from the initial public offering and will arrive on the NYSE with a market cap valuation of about $21.3 billion. Although still a significant stock exchange debut, the money raised and accompanying valuation is considerably lower than what had been predicted earlier this year.

Tencent confirmed in July that it would spin-off its music division as a standalone business via an IPO in the US. But the listing was subsequently delayed as most publicly-listed tech firms saw their share prices dip and the trade war between the US and China escalated.

There was talk of the IPO being pushed back into 2019, but Tencent announced the listing was going ahead after the stock market responded positively to talks between the US and China at the recent meeting of G20 countries in Buenos Aires.

A further hitch then occurred after it emerged an early investor in a company that subsequently merged with Tencent Music was suing over allegations he'd been tricked into selling his shares in 2013.

Tencent Music, of course, owns China's market-leading streaming service QQ Music, and has a number of other digital, distribution and label operations too. The firm's IPO has been frequently compared to the direct listing earlier this year of Spotify, with which Tencent has a formal alliance.

Spotify arrived on the New York Stock Exchange with a market cap valuation of about $30 billion, considerably more than Tencent. However, Spotify's share price has since taken a hammering, so that its market cap today is just over $23.2 billion, so not that much more than its Chinese ally.

Although there are lots of parallels between Spotify and Tencent Music - other than them both now being listed on the New York Stock Exchange - there is one big difference that has been frequently noted in recent weeks. Whereas Spotify listed while still incurring significant monthly losses, Tencent Music is already profitable.

That's despite the vast, vast majority of QQ Music's users being on its free service, whereas Spotify has impressive premium subscriber figures.

Tencent has achieved profitability partly by having other revenue streams than just ads and subscription sales. And partly by having made lower financial commitments to the global music industry, which was much more flexible when it came to negotiating streaming deals in an emerging market that traditionally brought in very little income at all for the Western record companies and music publishers.

With both Spotify and Tencent now listed on the New York Stock Exchange and therefore obliged to publish quarterly financial reports, the music industry will have regular opportunities to check-in on how two major players in streaming are performing, and to see how growth in the Chinese market compares with the rest of the world.

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Neil Young claims Barclaycard has been dropped as sponsor of his London show
Neil Young has said that his London show with Bob Dylan next summer - part of AEG's British Summer Time programme in Hyde Park - will now be "sponsored by nobody". Although confirming he had been booked to play the show, he had reacted angrily to various things about it, not least that - like all the BST concerts - the event was to be sponsored by Barclaycard.

The musician's Neil Young Archives website announced yesterday: "NYA is happy to announce that the Hyde Park show will proceed without Barclays as a sponsor. We are overjoyed, so happy to be playing the show!"

After the concert was originally announced last week, Young hit out, saying that he had not been told the show would be made public at this time. With tickets being put on sale without his knowledge, he said, a promise to fans that they would always get pre-sale access to his shows via his official website had been broken.

"I learned that the show had a sponsor, Barclays Bank, a fossil fuel funding entity", he also said. "That doesn't work for me ... At the moment, we are trying to rectify the situation and will soon update you on the status of the Hyde Park show. We have been talking about requiring a different sponsor as one option".

Young previously played a British Summer Time show in 2014, which did go ahead with Barclaycard sponsorship in place. This was seemingly not objected to by the musician at the time.

AEG has not yet confirmed that Barclaycard has indeed been dropped as the show's sponsor. Currently the credit card brand's logo remains firmly on the artwork for the gig and in the blurb about it on the BST website.

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Approved: Farai
Vocalist Farai Bukowski-Bouquet and producer Tone have just released their debut album as Farai - 'Rebirth' - a late contender for one of the year's most incendiary LPs.

The record veers between inviting warmth and unfiltered anger, Bukowski-Bouquet's thoughts often seeming to just pour out of her in the moment. In the case of one of the album's singles, 'National Gangsters', this isn't so far from the truth.

Tone recalls needing to nail the track in two takes due to the "paper thin walls" of the flat where they recorded it, not wanting to annoy the neighbours too much as Bukowski-Bouquet's lyrically attacks the pervasive and often hidden presence of heroin in London.

'This Is England', meanwhile, boasts an ominous tone set in motion by Tone's stripped down synth drones and drum beats, which he says are designed to reflect how "run down council estates crumble in the shadows of multi-million - or could be billion - pound private developments". Over this, Bukowski-Bouquet delivers an impassioned tirade direct to Theresa May.

The album is not just wall-to-wall anger though. It's a multi-layered endeavour, with Tone switching sounds to whatever best matches his musical partner's mood. The results are well worth checking out.

Listen to 'National Gangster's here.

Stay up to date with all of the artists featured in the CMU Approved column by subscribing to our Spotify playlist.

Tegan & Sara announce high school memoir
Tegan & Sara have announced plans to publish a memoir titled 'High School'. The book covers, as the title suggests, their formative years in high school in the 1990s and the foundations of their musical career.

They say of the book: "How did you start your band? When did you know that you were gay? What were you like before Tegan and Sara? We have spent twenty years answering those complicated questions with simple answers. Writing 'High School' gives us the opportunity to tell the intricate stories that shaped our relationship as sisters, musicians and queer girls".

Set to be published by Virago in the UK, it is scheduled to hit book shop shelves in autumn next year.

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Amanda Palmer announces new album, There Will Be No Intermission
Amanda Palmer has announced her third solo album, 'There Will Be No Intermission', which she says is her most personal to date.

"I've never been nervous about releasing a record before, but this one is different", she says. "The rise of global fascism alongside the spreading fire of #MeToo has forged a louder megaphone for all women, and we're all seeing that radical truth is infectious. I feel more urgency than ever to share the naked truth of my experiences".

"The kind of stories that I'm sharing on this record - abortion, miscarriage, cancer, grief, the darker sides of parenthood - have been therapeutic and frightening to write", she admits "But every time I play them for my friends and fans, the nodding heads of empathy have lit a fire under my ass to record and release them".

"Most of these songs were exercises in survival", she goes on. "This isn't really the record that I was planning to make. But loss and death kept happening in real-time, and these songs became my therapeutic arsenal of tools for making sense of it all".

The first single, 'Drowning In The Sound', is out now, written using comments from fans posted on her blog. Listen to the song here.

'There Will Be No Intermission' is set for release on 8 Mar.

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Cher announces first UK tour since 2004
Cher has announced her first UK tour for a decade and a half next October, performing tracks from her own back catalogue, as well as some Abba songs, as heard on her 'Dancing Queen' album.

"I'm very excited to bring this show to the UK", she says. "It was the first country to embrace Sonny & Cher, and its where we created and had our first success with 'Believe'. It's really my second home".

Here are the dates:

20 Oct: London, O2 Arena
24 Oct: Manchester Arena
26 Oct: Birmingham, Resorts World Arena
28 Oct: Glasgow, Hydro
30 Oct: Leeds, First Direct Arena

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Maverick Sabre announces new album and tour dates
Maverick Sabre has announced that he will release his third album, 'When I Wake Up', next spring. Ahead of that, he's put out new single 'Her Grace' and announced UK and Ireland tour dates for March and April.

Featuring Chronixx, Maverick Sabre says that the new single is "about the unspoken unheard struggles of women that go unnoticed in society".

Watch the video here. And here are the tour dates:

29 Mar: Cork, Cyprus Avenue
20 Mar: Dublin, Academy
1 Apr: Nottingham, Rescue Rooms
2 Apr: Norwich, Epic Studios
4 Apr: Leeds, The Wardrobe
5 Apr: Manchester, Club Academy
6 Apr: Liverpool Arts Club
8 Apr: Brighton, Concorde 2
10 Apr: Birmingham, The Institution
11 Apr: London, Electric Brixton
12 Apr: Exeter, Phoenix
13 Apr: Bristol, The Trinity Centre

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Fyre Festival, MJ Cole, Suede, more

Other notable announcements and developments today...

Here's the first trailer for upcoming Fyre Festival documentary 'Fyre', which will appear on Netflix on 18 Jan.

• MJ Cole has teamed up with Freya Ridings for new track 'Waking Up'. A new EP with the same title is due out early next year.

• Aidan Moffatt and RM Hubbert have released another track from their festive album, 'Ghost Stories For Christmas'. Here's their sombre rendition of Mud's 'Lonely This Christmas'.

• She Drew The Gun have released the video for 'Something For The Pain', from their latest album, 'Revolution Of The Mind'.

• Cass McCombs has released new single 'Estrella'. It's taken from his new album 'Tip Of The Sphere', out on 8 Feb.

• The reunited original line-up of the Meat Puppets will release a new album, 'Dusty Notes', on 8 Mar. From it, this is 'Warranty'.

• Suede have announced tour dates in April next year. Tickets on sale this Friday.

• Frankie Cosmos have announced that they will play EartH in London on 1 Apr.

• Check out our weekly Spotify playlist of new music featured in the CMU Daily - updated every Friday.

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Dean Martin's daughter says Baby, It's Cold Outside controversy is "outrageous"
This is turning out to be quite a controversial Christmas when it comes to your favourite festive songs, isn't it? Recently Shane MacGowan responded to complaints about a certain word in The Pogues' 'Fairytale Of New York'. Now the daughter of late singer Dean Martin has said that her father "would be going insane right now" if he were alive to see the controversy over 'Baby, It's Cold Outside', a version of which he recorded in 1959.

Many have recently argued that the call and response song between a woman who says she needs to go home and a man demanding that she stay with him isn't particularly appropriate Christmas listening in the wake of #MeToo. The controversy has become a talking point after various US radio stations banned the song - detractors highlighting one line in particular, where the female character sings "Hey, what's in this drink?"

Appearing on 'Fox & Friends' on Fox News, Deana Martin responded to the controversy, saying: "[The female character in the song] is sweet, she's playing along with him. It's flirting, it's sexy, it's sweet, there's nothing bad about that song, and it just breaks my heart".

As for what Martin Senior would have thought about it all, she added: "I know my dad would be going insane right now. He would say, 'What's the matter with you? Get over it, it's just a fun song'. Cos he was so sweet anyway, he would never say anything bad like that. He was a great guy, a fun guy, nice, and he wouldn't want to do anything offensive, that wasn't Dean Martin".

Asked if she would accept the most controversial line in the song - about the drink - being censored, she adds: "I don't wanna change the lyrics where she says, 'Hey, what's in this drink?'. I don't think she's talking about some pill being put in that drink. I think she's saying, like, 'What's in this drink? Is it punch, is it vodka?' It's nice, it just breaks my heart that people are turning that around ... People have to have a sense of humour about themselves. I understand the #MeToo movement and everything, I'm all for that, but we've gotta relax and have fun again".

Although Dean Martin is particularly known for performing the song, 'Baby, It's Cold Outside' was originally written in 1944 by Frank Loesser. It then featured in 1949 movie 'Neptune's Daughter', going on to win an Oscar. In the original score, the man is named as 'Wolf' and the woman as 'Mouse', which may also be taken as a black mark against it. However, others say that shifts in language over the last 75 years have changed how we view the song and the status of the woman in it.

"I'm so tired of this", tweeted comedian Jen Kirkman earlier this month. She then argued that the song is not about the male character "coercing sex", but rather it's about a woman who "knows her reputation will ruined if she stays". As for 'Say, what's in this drink?', it's "an old movie line from the 30s that means 'I'm telling the truth'".

"She wanted to get down and stay over [and] he is offering her an excuse she can use", she goes on. "She's explaining to him that excuse doesn't work when you're a woman who has to deal with what the neighbours think. The song has a lot to teach us about how society views women's sexuality. But the lesson of this song is NOT that it's about forcing a woman into sex".

She concludes: "If you want to be outraged, be outraged about what the song is actually about - the double standard in regards to sex that women face and how nothing much has changed. And then enjoy the song. It's a delight. The song ends with her joining him in the chorus of 'Baby, It's Cold Outside'. She's staying over. She will deal with her Maiden Aunt tomorrow".

So, anyway, there's something you can argue about over Christmas lunch when you're tired of debating your uncle's views on Brexit.

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ANDY MALT | Editor
Andy heads up the team, overseeing the CMU bulletins and website, coordinating features and interviews, reporting on artist and business stories, and contributing to the CMU Approved column.
Email andy@unlimitedmedia.co.uk (except press releases, see below)
   
CHRIS COOKE | MD & Business Editor
Chris provides music business coverage and analysis. Chris also leads the CMU Insights training and consultancy business and education programme CMU:DIY, and heads up CMU publisher 3CM UnLimited.
Email chris@unlimitedmedia.co.uk (except press releases, see below)
   
SAM TAYLOR | Commercial Manager & Insights Associate
Sam oversees the commercial side of the CMU media, leading on sales and sponsorship, and advising on CMU Insights training courses and events.
Email sam@unlimitedmedia.co.uk or call 020 7099 9060
   
CARO MOSES | Co-Publisher
Caro helps oversee the CMU media, while as a Director of 3CM UnLimited she heads up the company's other two titles ThisWeek London and ThreeWeeks Edinburgh, and supports other parts of the business.
Email caro@unlimitedmedia.co.uk
 
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