Home Topics Business MBW's weekly roundup: Epidemic Sound, Songtradr, IFPI, TuneCore, NFTs

MBW’s weekly roundup: Epidemic Sound, Songtradr, IFPI, TuneCore, NFTs

Welcome to Music Business Worldwide’s weekly recap we make sure you got the top five stories of the past seven days in our headlines. MBW Roundup is backed by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their tour costs.

This week, Swedish music company Epidemic Sound closed a $ 450 million financing round, giving the much-discussed company a valuation of $ 1.4 billion.

Meanwhile, Songtradr’s B2B music licensing market has acquired Sydney-based award-winning music and sound design company Song Zu in a “multi-million dollar transaction.”

Elsewhere, globally recorded music association IFPI named BTS the world’s best-selling recording artist last year, but for the first time ever, no UK acts made the top 10.

In addition, Believe-powered DIY distribution platform TuneCore, led by Bruno Duque, has commenced operations across Latin America, while music-related NFT sales exceeded $ 25 million last month.

1) EPIDEMIC SOUND WORTH US $ 1.4 BILLION WHEN BLACKSTONE JOINS USD 450 MILLION INVESTMENT ROUND IN SWEDISH COMPANY

The much-discussed Swedish music company Epidemic Sound has just closed a $ 450 million financing round – including money from investment giant Blackstone.

Through the investment, Blackstone Growth (BXG) is partnering with EQT Growth, giving Epidemic Sound a valuation of $ 1.4 billion.

Epidemic Sound’s existing investors to date have included Creandum and EQT Mid-Market as well as Atwater Capital.

Epidemic Sound, which was founded in 2009, said the new investment “would be used to further accelerate [our] Acquire customers and invest even more aggressively in [our] Core User Experience “….

2) SONGTRADR TAKES ON MUSIC AND SOUND DESIGN COMPANY SONG TO OFFER IN MORE THAN MILLION DOLLARS

The B2B music licensing market, Songtradr, has acquired award-winning Sydney-based music and sound design company Song Zu, which operates in the Australia and Asia Pacific region and has studios in Sydney and Singapore.

The deal, known as a “multi-million dollar deal,” is Songtradr’s second major acquisition since the Series C financing round closed in July 2020, in which the company raised $ 30 million.

Los Angeles-based Songtradr acquired the UK-based boutique dubbing cue song licensing company in November.

Song Zu will be part of Songtradr’s recently launched Vinyl by Songtradr platform, along with the acquired companies Big Sync Music (acquired by Songtradr in February 2019) and Cue Songs …

3) BTS were the top selling recording artist in the world last year. BUT FOR THE FIRST TIME, NO UK ACTIVITIES HAVE MADE THE TOP 10.

Every year the globally recorded music association IFPI publishes a top 10 list of artists, reflecting the top-selling acts of all formats in the 12 months of the previous calendar.

The 2020 list was published by the IFPI last week and is historic for several reasons. First, it is being directed for the first time by an artist outside of the US or the UK, with BTS bringing Taylor Swift and Drake to the fore.

Second, artists whose recorded music is / was affiliated with Universal Music Group occupy no less than nine spots in the overall top 10.

(Technically, that’s nine points when you include BTS: Most of the K-pop stars’ music is released in key international territories through Big Hit / Sony Music, but their Japanese-language recordings are released through Big Hit / Universal Music Japan .) …

4) TuneCore begins operations in Latin America under the direction of Bruno Duque

Believe owned DIY distribution platform TuneCore has started operations across Latin America.

TuneCore LATAM will support artists in Mexico, Colombia, Argentina, Peru, Chile, Brazil, the Dominican Republic, Puerto Rico and Spain.

The move follows the company’s launch of operations in Africa last month.

TuneCore LATAM is led by Bruno Duque, who began his career at Sony Music in Los Angeles in the Latin Music Division before moving to other areas of the industry …

5) MUSIC-RELATED NFT SALES RECEIVED $ 25M IN THE LAST MONTH

The jury isn’t sure whether non-fungible tokens (NFTs) are a music industry fad – or a transformative harbinger of the company’s future. In any case, it is booming.

Last month it was reported that the digital collectibles had sales of over $ 100 million in just 30 days across various entertainment formats.

Now, NFTs are gaining traction in the music industry, as evidenced by the numerous messages from superstar artists in the past few weeks selling millions of dollars’ worth of digital assets to their fans.

Additionally, MBW just reported today that video game brand Atari is getting into the NFT business on a massive scale, partnering with Bondly, an e-commerce platform for digital assets, to bring NFTs to play, music, and more.

Here’s a round-up of just a few of the most recent NFT music (and musician) sales, adding up to total sales of at least $ 25 million in the last month alone …

Welcome to Music Business Worldwide’s weekly recap we make sure you got the top five stories of the past seven days in our headlines. MBW Roundup is backed by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their tour costs.

Music business worldwide

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