Overnight news from around the world: Monday, July 25

Overnight news from around the world: Monday, July 25

Kobalt investment fund KMC acquires Nettwerk catalogue

An investment fund advised and managed by Kobalt has acquired a significant portion of the Nettwerk Music Group publishing catalogue including more than 18,000 songs developed and acquired by Nettwerk over the last 30 years. As a subsequent component of the acquisition, Kobalt has also entered an exclusive administration agreement to administer Nettwerk’s retained publishing titles and all future publishing signings. The respective agreements include all territories under the songwriter agreements acquired by KMC. Willard Ahdritz, Kobalt founder and CEO, stated: “I am excited that Kobalt will be servicing KMC's new acquisitions of Nettwerk copyrights with so many great writers and works in their catalogue. Terry has built a great company and I’m thrilled to welcome him and his team into the Kobalt family.”

SFX isn't selling Beatport

EDM promoter SFX declared bankruptcy in February this year and began to sell off assets. It then terminated its bankruptcy agreement in June and it has now come to light that one of its assets, Beatport, will no longer be sold.  Mixmag received the following statement from SFX: “Our renewed focus on the Beatport Store, following our announcement of platform changes in May, 2016, has been well-received and successful. The changes we implemented have laid a strong foundation for Beatport that have dramatically improved its profitability. As a result of these improving trends, SFX has determined that retaining ownership of Beatport is in the best interest of the Company and has withdrawn its motion to sell Beatport through the Chapter 11 process."

Social enterprise Eazl Arts launches Art in a Corner project with rare paintings from leading artists

Social enterprise Eazl Arts has brought together a range of partners to launch its Art In A Corner charity fundraising project featuring new paintings from leading bands and musicians, commemorating the fiftieth anniversary of The Beatles only collaborative painting ‘Images of a Woman’. With the project endorsed by Sir Paul McCartney, some of the world’s top musicians and bands from across the globe includingElvis Costello, Brian Wilson, Imagine Dragons, Years & Years, The Libertines, Florence and the Machine have been busy painting their own original Images of….. artworks to be auctioned later in the year to support the work being undertaken by national charities Youth Music and Children & the Arts.

Ash to receive Legend Award in NI

Northern Irish rock band, Ash, will receive a special Legend Award at Belfast's Mandela Hall on November 11 2016 bringing to a close the city's annual Sound of Belfast programme. Ash will be the latest recipients of the Legend Award - presented and awarded by Belfast's Oh Yeah Music Centre named after the band's hit single - which recognises the exceptional contribution of a musician or a music industry figure from Northern Ireland.   After receiving the Legend Award, Ash will perform the entirety of their platinum-selling debut album 1977, released 20 years ago in 1996. Formed at Downpatrick High School in 1992, they have secured two No.1 albums in the UK, charted with 18 Top 40 singles and have sold more than eight million records worldwide.  Front man Tim Wheeler won the Ivor Novello Award for Best Contemporary Pop Song in 2001 for Shining Light whilst their music has featured on countless film soundtracks and video games.

Ole signs exclusive administration deal with country singer-songwriter JJ Lawhorn

Ole and New Kid on the Block Entertainment LLC have signed a deal that gives ole exclusive administration rights to singer/songwriter JJ Lawhorn. Hailing from Hanover County, Virginia, JJ Lawhorn is an American country music singer/songwriter discovered online by Ole songwriter and record producer Jeremy Stover when he posted a YouTube video singing a Justin Moore cover song. Stover produced Lawhorn's 2013 debut album, Original Good Ol' Boy, which sold 4,000 copies in its first week of release, debuting at #20 on the Billboard Top Country Albums chart and #91 on the Billboard 200.

New issue of Music Week out now

This week's issue of Music Week si now available, in which we look at the influence of streaming playlists and radio airplay on the charts as Radio 1’s Chris Price suggests a chart revamp. Facebook also talks us through how Facebook Live can help the music business while Eventbrite’s Julia Hartz takes on the Big Interview. And we investigate the death of the download — and what it means for the music industry. Subscribe here


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