DEALS
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Kobalt has announced new financing that will bring its funds to implement growth strategies to more than $1 billion. It has secured $266.5 million on more than 5000 works in its catalogue, and announced a new $450 million revolving credit facility. This is in addition to a previously announced joint venture with Morgan Stanley. “This refinancing will fuel our growth initiatives and allow us to further fortify our position as an industry trailblazer”, says CFO Catrin Drabble.
✏️
Bella Figura Music has acquired the writer’s share of Human League co-founder Adrian Wright’s song rights catalogue. The catalogue will continue to be managed by his existing publisher BMG. “Although our ambition is to acquire catalogues we can control and manage, given we are a full-service publisher and record label, there will always be exceptions, particularly when the music is so culturally significant”, says CEO Alexi Cory-Smith. “Adrian and The Human League definitely fall into that category. So, with that in mind we took a view, turned the deal around quickly and had the whole thing signed, agreed and sealed within a couple of months”.
APPOINTMENTS
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Music licensing agency Low Profile has launched a new publishing division led by Gareth Smith, formerly of Sub Pop Publishing.
🥭
Booking agency Midnight Mango has hired agent Sarah Thereze Nelsey, who brings with her a roster including Sham 69, Drum Machine, Jack Francis, The Smyths and more. “I love the bands I represent and look forward to booking shows for them around the world”, she says. “My strong relationships with my venues, promoters and my artists, alongside the fantastic reputation of the company, means that the future is bright, the future is Mango!”
MUSIC RIGHTS
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The UK’s Intellectual Property Office has launched an expanded version of its Get Paid Guide, which educates artists and songwriters about music metadata, and the codes and information they need to be on top of in order to get paid when their music is played. The first version of the guide focused on song data, while the new version also covers recording and performer data. You can access the guide here.
DIGITAL
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TikTok has hit $16 billion in sales in the US according to sources that have spoken to the FT. It reports that “three people with knowledge of its finances said the app achieved record revenues in the US in 2023”, which would make it really rather annoying for owner Bytedance if TikTok got banned there. Proposals to force China-based Bytedance to sell the app or face a ban got speedily passed by the US House Of Representatives earlier this month, although could yet be blocked on free speech grounds in the Senate or courts. The FT also reports that “ByteDance as a whole is on track to overtake Facebook owner Meta as the world’s largest social media company by sales”.
LIVE BUSINESS
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In response to concerns raised about police and council licensing decisions in London, Black Lives In Music has been commissioned by the Greater London Authority, Mayor’s Office For Policing And Crime and The Musicians’ Union to research the impact of policies and interactions with the police, councils, venues and promoters on black, Asian and ethnically diverse music events.
GIGS & FESTIVALS
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Yungblud has announced his very own festival, Bludfest, set to take place at the Milton Keynes Bowl on 11 Aug. Among those set to perform (in addition of Yungblud himself) are Lil Yachty, Soft Play, The Damned, Nessa Barrett and Lola Young. Tickets go on sale on Friday.
🇬🇧
Having just announced a three night residency at Manchester’s Aviva Studios in July, Janelle Monáe has now confirmed a London date at Brixton Academy on 29 Jun. Tickets go on general sale on Thursday.
RELEASES
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Marc Almond will release new album ‘I’m Not Anyone’ on 12 Jul. Out now is new single ‘Elusive Butterfly’. He’s also announced UK tour dates in September, including a night at the London Coliseum on 9 Sep.
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Cat Burns has announced that she will release her debut album ‘Early Twenties’ on 12 Jul. Her latest single ’Alone’ is out now.
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John Grant will release new album ‘The Art Of The Lie’ on 14 Jun. Out now is new single ‘It’s A Bitch’. UK tour dates are set for October and November, kicking off at St John at Hackney Church on 17 Oct.
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RiTchie has released new single ‘Loop’. His debut solo album ‘Triple Digits [112]’ is out on 5 Apr, and he will be in the UK for live shows at the beginning of October, including a London date at The Lower Third on 5 Oct.
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Mui Zyu has released new single ‘Sparky’ featuring Lei, E (formerly Emmy The Great). Her new album ‘Nothing Or Something To Die For’ is out on 23 May.
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Two Shell have teamed up with FKA Twigs for new single ‘Talk To Me’.