DEALS
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Endeavor Group Holdings, which owns talent agency WME, is becoming a private company again, having listed on the New York Stock Exchange in 2021. In a deal led by private equity firm Silver Lake Capital, which already has a 71% voting stake in the business, other shareholders will receive $27.50 in cash for each share, a 9% premium over Monday’s closing price. It’s the latest music related company to take itself private recently, with Sweden’s Linkfire making the move at the end of 2023, and more recently French artist and label services business Believe indicating it will do the same - though that is not yet a done deal. What is interesting about all of these is the relatively short lived nature of their public listings, and the apparent increased private equity interest in music.
🥷
DJ, producer and multi-instrumentalist Carlita has signed to Ninja Tune imprint Counter Records and released new single 'Time'. On the new record deal, Carlita says, “Ninja Tune is such an iconic label for me. I grew up listening to Coldcut, Amon Tobin and Bonobo. I love the diversity of sounds, the crossover and futuristic approach, and I feel so honoured to be part of such an amazing artist roster”.
🇮🇳
Warner Music India has signed a global record deal with Bollywood actor and singer Ayushmann Khurrana. Confirming the deal, he says, "I want to take my music to a global audience and I'm confident that with Warner Music India by my side, I will make some significant strides in this realm".
🖊️
Radical22, the management company launched by Dua Lipa's father and manager Dugi Lipa, has signed a music publishing admin deal with Warner Chappell. It follows the deal last year that saw Dua Lipa acquire back the rights in her songs from the publishing division of her former management representatives, TaP Music. She says, “It’s been a long road, but I am very happy to finally own my publishing thanks in large part to the dedication of my manager Dugi’s work over the past two years. My music is my life’s work, and it’s important for me to be the person who decides what happens with it".
🏷️
Opus Music Group has put the portfolio of music rights it owns up for sale, which includes rights in music by Juice WRLD, Rauw Alejandro and Maluma. According to Billboard, advisors at investment firm Raine Group have been sounding out possible buyers, with Opus - which launched in 2021 - seeking around $200 million for its catalogue.
APPOINTMENTS
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Resident Advisor has appointed a new Editor and Deputy Editor, Gabriel Szatan and Rachel Grace Almeida respectively. Carlos Hawthorn has also been promoted to Managing Editor and Nyshka Chandran becomes Futures Editor. Says RA's Chief Creative & Brand Officer Kazim Rashid: “I’m extremely excited to welcome both Gabriel and Rachel to the RA team. I’ve been a fan of both of their work for some years now and had both of them on my mental shortlist back when this process was in its inception. It’s great to see it come full circle".
DIGITAL
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Spotify confirmed that its new royalty payment threshold went into effect on Monday meaning tracks now need to get 1000 streams from a minimum number of users in any one year in order to qualify for any payments. The somewhat controversial change to the streaming service's track allocation process was announced last year. Changes affecting functional audio on the platform - which include each play of such content counting for a fraction of a play - went into effect back in February.
🤖
Vocalist AI has unveiled a public beta version of its platform which, it says, "leverages state-of-the-art algorithms and high-performance GPU processing to transform vocal inputs into world-class singers and rappers". It uses AI models developed with an assortment of performers who earn royalties when their voices are used. Says co-founder Andrew Frampton, “There is a growing sense within the creator economy that the future will belong to those who supplement their songwriting and production with AI tools and the possibilities they bring. We approached Vocalist.ai completely from the perspective of giving professionals a tool that addresses the real challenges they face in the music production landscape". Access the service at vocalist.ai.
🎞️
Members of the American Federation Of Musicians have ratified the newly negotiated agreement with US movie and TV studios which includes new residual payments from the streaming of films and programmes, plus protections around AI. The union announced it had negotiated a new deal with the Alliance Of Motion Picture And Television Producers in February. Says AFM International President Tino Gagliardi, “This agreement is a monumental victory for musicians who have long been under-compensated for their work in the digital age".
GIGS & FESTIVALS
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Spain is the lead country at this year's Great Escape showcase festival in Brighton in May, and the eight Spanish artists set to play under the banner The Spanish Wave have been announced: Depresión Sonora, Eva Ruiz, Lala Hayden, Ona Mafalda, Mavica, Mujeres, Sila Lua and The Gulps. This year's Great Escape takes place from 15-18 May.
RELEASES
🔥
Killer Mike has posted a video for 'EXIT 9', the Blxst featuring track from his album 'Michael'. Accompanying what is an "unabashed Atlanta anthem", the video, we are told, "depicts Blxst and Mike breaking bread with the mayor and making the rounds to notable ATL landmarks from the Cascade roller rink to the Blue Flame".
🐎
James Vincent McMorrow has posted new single 'Give Up', taken from his new album 'Wide Open, Horses', which will be released on 14 Jun.
🍑
Peaches has only gone and remixed Romy’s 'Did I'. Says Romy, “Peaches is an absolute icon and has inspired me in so many ways over the years. Peaches was one of the first gigs I ever went to and I’ve never forgotten her energy onstage, her lyrics, production and how she continuously pushes boundaries for the better. With this project I wanted to celebrate queer dance music and I couldn’t think of an artist who embodies this more than Peaches, I’m honoured that she has not only remixed 'Did I' but added a verse too!”
🏓
Mike Lindsay and Anna B Savage have collaborated on new single 'Table', which will appear on Lindsay's debut solo album 'Supershapes Volume 1' when it is released on 14 Jun.