NetEase Cloud Music
NetEase Cloud Music struck a licensing agreement with South Korean music company Kakao Entertainment that will allow NetEase to distribute Kakao’s catalog in China. Both companies will work together to jointly promote Korean music in the Chinese market. Kakao artists include Jay Park, Chungha, FTISLAND and CNBLUE. According to a press release, Kakao had 2016 million monthly active users and more than 44 million paying subscribers in 2023.
Rapper Lil Durk partnered with AWAL to re-launch his label venture, OTF. Under the deal, OTF will identify and develop artists with the help of AWAL’s global infrastructure and artist development expertise. Durk will act as CEO while OTF’s COO, Cedrick “SB” Earsery, will work alongside AWAL CEO Lonny Olinick, president Pete Giberg and senior vp/head of urban music Norva Denton to foster the OTF roster. The first release under the deal, “GTA” by DJ Bandz featuring Rob 49, Skilla Baby and Fivio Foreign, is dropping Friday (May 17).
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Music Venue Trust announced the second acquisition by its own Music Venue Properties via the U.K. charity’s Own Our Venues scheme: The Ferret in Preston, a 200-capacity venue that has hosted artists including Ed Sheeran, IDLES, Alt-J and Royal Blood. With the purchase, the venue will be placed in permanent protected status via a “cultural lease” — an agreement designed by Music Venue Properties to guarantee that, as long as The Ferret operates as a space for grassroots live music for the local community, they can use the building. Own Our Venues has raised nearly 2.6 million pounds to date from more than 1,200 individual investors. In October 2023, Music Venue Properties made its first purchase when it acquired The Snug in Atherton, Greater Manchester. An additional seven venues across the country have been identified for purchase in this initial phase.
AI solutions company Veritone signed a deal to power theCAAvault, a synthetic media vault created by Creative Artists Agency (CAA) to store the intellectual property of CAA clients, including AI clones and voice recordings. The hope is to ensure the proper compensation of CAA talent for any use of their name, image and likeness.
ASM Global invested in Boston-based EDGE Sports Group, marking a significant move by the company to become a market leader in providing advisory, development and venue management services to clients and partners in the domestic youth sports and sports tourism industry. Following the close of the transaction, EDGE will operate under the moniker EDGE Sports Global. EDGE brings a portfolio of more than a dozen sports venues in the New England region and is expanding with development projects in Florida, Arizona and more; it also owns or manages youth sports clubs, academies and camps totaling more than 350 teams and 8,000 athletes. EDGE Sports Group founder/president Brian DeVellis will continue serving as president of EDGE Sports Global.
Music licensing hub Broma16 signed an international agreement with YouTube and partnerships with three collecting societies from the Commonwealth of Independent States (CIS) region. The YouTube deal will see Broma16 collecting music royalties from the platform in territories including Africa, Asia, the Middle East, Europe and the CIS and distributing them to its members. The company’s new collecting society partners are ANCO (Moldavia), SIIP (Uzbekistan) and KAZAK (Kazakhstan). SIIP and ANCO will use Broma16’s online licensing services to collect royalties for their songwriter and publisher members. KAZAK has granted Broma16 the right to collect royalties from YouTube.
Chinese music streaming service provider NetEase Cloud Music entered a licensing agreement with K-pop label JYP Entertainment, granting it the right to digitally distribute JYP’s catalog in China. JYP artists include J.Y. Park, TWICE, Stray Kids, BOY STORY, ITZY, Yao Chen and NMIXX.
TikTok announced a partnership with European ticketing provider CTS Eventim through which artists can now promote their live dates in their TikTok videos and sell tickets via the CTS Eventim platform. The feature is available to any certified artist on TikTok in Germany, with additional markets to follow.
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Warner Music South East Europe launched Balkan Electro, a new EDM-focused label, in collaboration with Ensis Records. Through the deal, Ensis artists can be distributed, upstreamed and marketed through the new label. Warner Music Poland will also collaborate to sign new local talent to Balkan Electro, which will additionally team with Amsterdam-based Spinnin’ Records and the dance-focused teams at Warner Music Central Europe and Warner Music France. The first releases on Balkan Electo are Prisko and TBX’s “Back to 95” (April 19), Melli’s “Losing My Mind” (April 26) and Kevin’s Palacios and Jordan’s Grace’s “Bright As You” (May 10).
The City of El Paso has approved a $30.9 million performance-based incentive agreement to support the creation of Notes Live‘s new $80 million, 12,500-capacity open-air amphitheater in El Paso, Tex., to be named the Sunset Amphitheater. According to a press release, the project will support more than 2,000 direct and indirect jobs with the potential to generate a $5.4 billion impact for the El Paso community. Construction is slated to begin in late 2024 with an opening set for early 2026.
Concert discovery app Songkick teamed up with Black music and culture ticketing and marketing company Shoobs in a deal that will see Songkick list and promote Shoobs events to its 155 million users via its app, website and eCRM. The partnership is designed to boost the visibility of Black culture events and performers including Afro Nation Portugal, Burna Boy and Piano People in the Park.
Ticketing company AXS acquired a majority stake in WRSTBND, a provider of access control, credentialing and point-of-sale solutions for live events and venues. WRSTBND will use the investment to grow its capabilities and offerings to clients while integrating AXS’ Mobile ID technology with WRSTBND’s ecosystem. “[WRSTBND’s] hardware and software technology combined with the scale of AXS’ premier festivals and live event clients, including Coachella, New Orleans Jazz & Heritage Fest, and Hyde Park BST will create the most seamless and cutting-edge access and payment solutions available anywhere,” said AXS chief strategy officer Marc Ruxin in a statement.
Celebrity Coaches, which provides transportation and logistics for live events, acquired Nashville-based entertainment coach leasing company Moonstruck Leasing. The acquisition will add several luxury Prevost motorcoaches to Celebrity’s existing fleet. Terms of the deal were not disclosed.
The Irish Music Rights Organisation (IMRO), an international performing rights organization, partnered with music recognition technology company Audoo to implement its Audoo Audio Meter in select public spaces and retail locations in urban areas across Ireland, with plans to expand it to all business types in the country. The partnership is designed to help promote a more accurate and transparent breakdown of royalty distributions to music creators by recognizing background music being played via Audoo Audio Meteres and reporting the data back to IMRO. Business owners in Ireland can request an Audoo Audio Meter free of charge.
Private equity firm PAI Partners acquired a majority stake in Audiotonix, which designs, engineers and manufactures professional audio mixing consoles, production software and ancillary products. Investment house Ardian (which acquired Audiotonix in March 2020) will retain a minority stake alongside Audiotonix management. The U.K.-headquartered Audiotonix specializes in designing, engineering and manufacturing products that help enable high sound quality for several formats, including concerts, theater shows and sporting events. Its products have been used on tours by artists including Coldplay and U2 as well as at the Super Bowl and Sphere in Las Vegas.
RoEx, a tech startup driving intelligent audio production tools, was awarded a 250,000 pound ($313,000) grant by national innovation agency Innovate UK as part of a funding competition called Creative Catalyst: AI in the Music Industry. The grant will support the research and development of RoEx’s new model, ProStyle, which will provide a platform for mix engineers to partner with RoEx to train a machine learning model that captures their individual mixing style, thereby allowing them to monetize their sonic identity. Through this, the goal is for musicians and creators to have the ability to mix tracks in the engineer’s style using ProStyle.
Full-service entertainment marketing company FlyteVu and Club CMO, a community of more than 1,500 chief marketing officers across 30 cities globally, struck a partnership through which FlyteVu will offer Club CMO members “backstage” access — both in-person and virtually — to FlyteVu-marketed sports, music and pop culture events. Through the partnership, Club CMO members will be offered a closer look at FlyteVu’s industry expertise and knowledge, which they can then take back to their own organizations.
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