Overnight news from around the world: Tuesday, May 31

Overnight news from around the world: Tuesday, May 31

Here's all the headlines you might have missed overnight:

Warner/Chappell Music expands Times Music deal

Warner/Chappell Music has expanded its existing licensing deal with Times Music, one of the leading music labels and publishers in India, to now cover additional South Asian countries. The agreement will see Times Music exclusively represent Warner/Chappell’s catalogue in Bangladesh, Nepal, Pakistan and Sri Lanka for the first time, as well as renew their existing partnership in India. Times Music will manage the rights to Warner/Chappell’s repertoire in South Asia and drive publishing and synch deals on behalf of its wide array of legendary songwriters. “Warner/Chappell songwriters’ music knows no boundaries and Times Music has been a fantastic partner in helping us extend their reach,” says Stephen Clark, SVP global administration, Warner/Chappell Music. “The expansion of our partnership allows us to tap into new and vibrant markets with enormous growth potential, and we look forward to further exploring South Asia with the continued help of Times Music.” Works by leading songwriters that will be looked after by Times Music include Barry Gibb, Beyoncé, Bruno Mars, Eric Clapton, Fun, Kendrick Lamar, Led Zeppelin, Madonna, Muse, Red Hot Chilli Peppers, Stephen Sondheim, Chris Stapleton and Tove Lo, among many others.  

Mint Group terminates management agreement with Koko

Live venue operator Mint Group has announced the termination of the company’s agreement to manage London’s Koko. Notice of termination of the transitional services arrangement under which the venue was managed was served by Mint on January 21, 2016, with a termination date of May 21, 2016. Mint has operated Koko since its launch in 2004. The company also owned the venue until it was demerged in November 2012. The venue’s turnover in the years ended March 31, 2015 and March 31, 2016 was up 5.4% and 2.4% respectively, against 2014.  Site EBITDA (before management charges and non-recurring expenditure) for the years 2015 and 2016 increased by 2.3% and 7.2% respectively. Koko’s management will in future report to Mint and Koko founder, Oliver Bengough, who has a 50% personal interest in the venue. The remaining shares are held by outside investors. Mint will continue to operate its bar, restaurant, live venue/nightclub businesses, with plans to expand its interests in these sectors, in particular its newest Latin American-Japanese fusion restaurant brand, Mommi, in Clapham, south-west London. The company is looking forward to growing its business both organically and by acquisition when suitable opportunities arise.

HMV to celebrate vinyl week

HMV will be celebrating vinyl week in its stores between June 13-19, following the success of last year’s campaign and the continued rise in vinyl sales. Fans of the format will have access to a range of exclusives and discounted lines, with the first batch including Manic Street Preachers’ Everything Must Go (1,000 copies on blue vinyl), In Rock by Deep Purple (1,000 copies on marbled vinyl), John Martyn’s Solid Air (500 copies on green vinyl) and The Sun Records Collection (1,000 copies on black vinyl). More will be announced this Friday, with the full list of exclusives to be revealed next week. The retail brand will also be expanding its turntable and speakers range. It's estimated that one million LPs will be sold in HMV stores in 2016.

MTV International partners with LiveXLive

MTV International has entered into a strategic marketing and distribution agreement with LiveXLive, an emerging mobile and digital platform for live music content. MTV International will carry LiveXLive’s live broadcast of the closing night of Rock In Rio, one of the world’s biggest music festivals, online at RockInRio.MTV.com with full performances by Ariana Grande, Avicii and Charlie Puth. MTV International also created various live segments and editorial features leading up to the weekend broadcast, driving its substantial TV and online audiences to LiveXLive’s online stream of Rock In Rio. Additionally, LiveXLive has granted MTV International exclusive access to its festival content, allowing it to be shared on MTV’s international platforms.

Is Pandora up for sale?

Internet radio service Pandora is at the centre of acquisition rumours, as rumours saw its shares rise 2% last Friday (May 27), and 32% in the last three. Despite this, shares were still 39% last week than they were a year ago. The company turned over $297 million in revenue last quarter, but lost $57m. Some investors are reportedly calling for a sale of the company, with SiriusXM named as a potential suitor. Pandora will have it annual stockholders meeting tomorrow (Wednesday, June 1). (Billboard)

Universal Music Group acquires Fame House

Universal Music Group (UMG) has acquired Fame House, an award-winning digital marketing agency whose clients include artists, brands and festivals including Eminem, Pearl Jam, Mitchell & Ness and Electric Zoo. Fame House will remain based in Philadelphia and continue to provide and expand on its services as an agency for Universal Music as well as third-party clients. Mike Fiebach, CEO and founder, and Eric Hahn, chief strategy and marketing officer, will continue to lead the agency. Fiebach and Hahn will report to Boyd Muir, executive vice president and chief financial officer, and Michele Anthony, executive vice president of UMG. The acquisition of Fame House is intended to advance UMG’s strategy to create unique commercial opportunities for its artists and labels through social media, consumer engagement, direct-to-consumer and direct-to-fan initiatives, as well as activations for brands, sponsors and live events.

New issue of Music Week out now

The new issue of Music Week is out now, with the industry’s response to the Waterson report on secondary ticketing on the front page. Inside, we have the full analysis of Q1 2016’s RAJAR figures and a special report on the label services sector. The Big Interview this week is Craig David manager Colin Lester

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