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.
We learned this week that Warner Music Group‘s long-awaited superfan app is moving closer to reality, with Ed Sheeran lining up as its first featured artist.
Meanwhile, $1 billion-valued Create Music Group announced this week that it’s acquiring !K7, the Germany-headquartered music company founded by Horst Weidenmüller, who passed away in February at the age of 60.
Elsewhere, music production company Epidemic Sound released its 2024 earnings this week, showing an impressive 29% YoY jump in revenue and an even more impressive 150% YoY gain in adjusted EBITDA.
Plus, Bill Ackman, a major Universal Music Group shareholder, voiced concerns about Donald Trump’s trade war, joining many others in the world of high finance calling for a “time out” on tariffs.
Also this week, a bipartisan bill aiming to crack down on unauthorized deepfakes was reintroduced in the US Congress…
Warner Music Group‘s long-promised superfan app is moving closer to reality, with a more sophisticated version now being tested by a select group of users, according to a new Wall Street Journal report.
The app, which features Ed Sheeran as its first featured artist, has progressed from its earlier beta version that was first made available to some employees for testing in spring.
Sheeran is now “actively posting” on an in-development version of the app, according to the WSJ interview with Atlantic Records CEO Elliot Grainge.
Sources tell MBW that Warner is still experimenting, so the exact look of the app and its launch date remain up in the air…
After raising $165 million in an investment round last year, valuing it at $1 billion, Create Music Group is continuing its acquisition spree, this time buying Berlin-headquartered independent music company !K7.
Financial terms of the deal were not disclosed. The independent music company said the acquisition is aimed at preserving the legacy of !K7 founder Horst Weidenmüller, who passed away in February at the age of 60.
Weidenmüller was a German music executive who founded !K7 in 1985 in Berlin. He also served on the boards of IMPALA and Merlin.
“Though Horst Weidenmüller, the founder of !K7, is no longer with us, his words and vision continue to resonate,” said !K7 CEO Tom Nieuweboer…
Sweden-headquartered music production company Epidemic Sound has published its annual report for 2024.
Financial highlights from the report include a 29% YoY jump in revenues, to 1.921 billion Swedish kronor, or USD $181.62 million at the average exchange rate for 2024.
Epidemic’s adjusted EBITDA, meanwhile, soared 150% YoY to SEK 147 million ($13.9 million), while unadjusted EBITDA increased 24-fold to SEK 107 million ($10.13 million).
According to Epidemic Sound’s annual report, the company boasts more than 50,000 music tracks and 200,000 “Hollywood-grade” sound effects…
Billionaire investor and major Universal Music Group (UMG) shareholder Bill Ackman issued a warning about US President Donald Trump’s global tariffs, describing them as potentially triggering an “economic nuclear winter” if implemented as planned.
The assessment comes from a notable Trump supporter, who has been campaigning to relocate UMG’s financial headquarters and stock listing to the US from Amsterdam.
In July last year, Ackman endorsed Trump for president, shortly after an assassination attempt that saw Trump get shot in the ear at a campaign rally. Four months later, Ackman requested that UMG move its domicile and listing to the US, which he said would offer “highly material benefits.”
Ackman, via Pershing Square Holdings, controls 7.48% of UMG’s stock…
A bipartisan bill aiming to crack down on unauthorized deepfakes has been reintroduced in the US Congress, with the support of the music industry and other creative sectors, joined this time by some major tech companies.
The Nurture Originals, Foster Art, and Keep Entertainment Safe (NO FAKES) Act was originally tabled in the Senate in July 2024, but failed to make it out of Senate and House committees before the end of last year’s session, due to a busy schedule that included budget negotiations… (MBW)
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
