Home Topics Business From Believe's $ 600 million IPO to Hipgnosis and Influence Media's catalog...

From Believe’s $ 600 million IPO to Hipgnosis and Influence Media’s catalog offerings, it’s MBW’s weekly roundup

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.

The biggest story in the global music law industry this year, if all goes well, will be Universal Music Group’s entry into the public market in Amsterdam.

However, UMG is likely to be listed on the European stock exchange by Believe – the Paris-based indie artist and label service company.

As MBW announced on Monday (May 10th), Believe has officially pressed the trigger for an IPO process. The aim is to float on the Paris Euronext and raise 500 million euros (around 608 million US dollars).

There was also news this week of two high-profile copyright acquisition deals where the Hipgnosis Songs Fund bought a catalog of songs from Grammy-winning producer, mixer and engineer Andy Wallace and New York-based music and entertainment investment firm Influence Media Partners Copyright from the catalog of Grammy-nominated songwriter Julia Michaels.

We have also learned over the past five days that Darcus Beese is about to set up a joint venture label with a major record company and that Iain Watt, the well-respected UK artist manager, will be leaving the YMU Group three years after it was acquired Companies.

Here is a recap of what happened …

1) TUNECORE OWNERS BELIEVE TO INCREASE TARGETS WHEN IT BEGINS THE IPO PROCESS IN FRANCE

Believe, headquartered in Paris, has taken the first official step to float in its homeland.

Like Universal Music Group, Believe has chosen Europa for its arrival on the stock exchange: the French company has just published its registration document on Paris Euronext, approved by the French Autorité des Marchés Financiers (AMF).

As part of the planned IPO, Believe, a label and artist services company and owner of TuneCore, intends to raise around 500 million euros to finance its growth strategy.

2) HIPGNOSE PURCHASES CATALOG FROM GRAMMY-WINNING PRODUCER ANDY WALLACE

The Hipgnosis Songs Fund has acquired a catalog of 17,242 songs from Grammy Award winning producer, mixer and engineer Andy Wallace, including 100% of its producer, mixer and performance royalties.

Hipgnosis hasn’t disclosed what it paid for Wallace’s songs, but in a notice to investors received from MBW, the company disclosed the catalog’s annual revenue for the past three years.

Filing also shows that in 2020, 75% of Wallace catalog revenue was generated through streaming, while 9% came from performance royalties. The catalog contains 78 No. 1 and 339 Top 10.

3) INFLUENCE MEDIA PARTNERS PURCHASES CATALOG FROM GRAMMY NOMINATED SONGWRITER JULIA MICHAELS

New York-based music and entertainment investment firm Influence Media Partners has acquired a portfolio of copyrights from the catalog of Grammy-nominated singer / songwriter Julia Michaels.

This acquisition follows last month’s news of the company’s purchase agreement from Grammy-nominated multi-platinum songwriter Ali Tamposi.

Influence Media Partners launched a $ 100 million fund in March to invest in what they call “award-winning catalogs of some of the most influential female music creators.”

4) Darcus Beese has signed a joint venture agreement with a major record company. But which one?

According to MBW, Darcus Beese is about to form a joint venture label outside of Universal Music Group.

The British A&R specialist stepped down as President of Island Records in New York earlier this year and has now moved to her hometown of London.

According to sources speaking to MBW at the BRIT Awards this week, Beese has signed a deal with a major record company to start a UK-based JV label – and that’s not UMG.

Alex Davison / MBW5) IAIN WATT LEAVES YMU THREE YEARS AFTER ACQUISITION OF HIS MACHINE MANAGEMENT

Iain Watt, the well-respected British artist manager, will leave the YMU Group three years after taking over his own company.

Well-placed sources tell MBW that Watt refused to renew his contract with YMU as his current contract officially expires later this year.

Watt is the managing director of YMU Music in the UK and works with artists / writers such as Clean Bandit, MNEK, Years & Years and James Arthur, as well as producer Mark Ralph (Jess Glynne, Years & Years, Jax Jones).

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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