Welcome to music business worldwide‘s weekly roundup – in which we make sure you catch the five biggest stories to hit our headlines in the last seven days. The summary of MBW is supported by centtriphelping over 500 of the world’s best-selling artists maximize their income and reduce touring costs.
Universal music group had a hell of a good 2021.
The company trading on the Amsterdam Euronextsaw his total annual earnings from publications, records and merch hit 8.50 billion euros ($10.03 billion) last year, beating the USD 10 billion dollars brand for the first time in history.
That’s according to UMG’s newly released financial results for the fourth quarter and fiscal year last year, which also show that the music giant’s annual revenues are up in 2021 €6.82 billion ($8.06 billion)currency adjusted, up 16.9% year-on-year.
To put this recorded music revenue figure into context – alongside another big story coming to our sites this week – UMGs Global earnings from recorded music in 2021 were about four times higher than earnings for the entire record industry in Germany in the same 12 months.
Arguably this week’s biggest music biz story, however, came from the gaming giant Epic Games and the acquisition of D2C music platform Bandcamp.
While Fourteen days manufacturer epos has hardly gotten used to the music industry in recent years everyone in business could have guessed that the company would acquire a prominent online record store and direct-to-fan platform.
Epic says Bandcamp will play an “important role” in its “vision to build a marketplace ecosystem for creators across content, technology, games, art, music and more.”
Elsewhere this week, Neil Diamond sold his entire catalog of songs and the rights to the master recording to Universal Music Group, while Dua Lipa was sued for alleged copyright infringement over their hit song Hover.
Here’s what has made MBW headlines over the past five days…
In 2021, Universal Music Group recorded annual combined sales of more than $10 billion for the first time in history.
That’s according to calculations by MBW based on the music rights giant’s newly released financial results for the fourth quarter and fiscal year last year.
Universal, which is traded on Euronext in Amsterdam, announced its results in euros yesterday (3 March).
These results show that UMG’s total worldwide revenue for the year — across releases, records and merchandise — was €8.50 billion ($10.03 billion).
That figure was up 17.0% year over year on a constant currency basis…
Epic Games, maker of the hit video games Fortnite and Unreal Engine, has acquired online music store and direct-to-fan platform Bandcamp.
In a statement released by Epic, the company says Bandcamp will play an “important role” in its “vision to build a marketplace ecosystem for creators across content, technology, games, arts, music and more.”
In a blog post published today, Bandcamp’s co-founder and CEO writes that Bandcamp will continue to operate as a standalone marketplace and music community and will continue to lead its team…
2022 is shaping up to be a blockbuster year for catalog purchases.
On Monday (February 28) we learned that Universal Music Group has acquired legendary artist and songwriter Neil Diamond’s entire catalog of songs (through Universal Music Publishing Group) as well as the rights to all recordings from his career.
The deal includes hits like Sweet Caroline, Red Red Wine, Solitary Man, Cracklin’ Rosie, Song Sung Blue, Love on the Rocks and America, and the catalog also includes 110 unreleased tracks, an unreleased album and archived long-form videos…
British pop star Dua Lipa has been hit with a lawsuit for allegedly ripping off a track by a band called Artikal Sound System to create her hit single “Levitating”.
Filed in a California court on Tuesday (March 1), members of Artikal Sound System allege that Levitating is “materially similar” to their own song Live Your Life…
Germany’s record business revenues surpassed $2 billion (on a retail basis) for the second straight year in 2021.
This is the result of new figures published by the Association of the German Music Industry (BVMI) yesterday (March 3).
The BVMI reports that the revenues of the German market from physical music sales and streaming total 1.96 billion euros (approx.
https://www.musicbusinessworldwide.com/from-universals-10bn-revenues-to-epic-games-bandcamp-buyout-its-mbws-weekly-round-up/ From Universal’s $10 billion in earnings to Epic Games’ Bandcamp buyout, it’s MBW’s weekly roundup