Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs.
This has been a week of structural changes in the global music industry.
First and foremost was Warner Music Group‘s major shake-up of its recorded music operations, with longtime CEO of Recorded Music, Max Lousada, set to depart the company. Meanwhile, 10K Projects founder Elliot Grainge is becoming CEO of Atlantic Music Group (AMG). Working alongside Grainge in the new Atlantic Music Group setup at WMG will be Julie Greenwald, who has been named Chairman of AMG under the new structure…
On the other side of the Pacific, K-pop giant HYBE announced the details of its ‘HYBE 2.0’ restructuring, following news a week earlier that CEO Jiwon Park is stepping down from the role, to be succeeded by Jason Jaesang Lee.
Also this week, Kobalt Music Group announced that its Head of Global Creative, Alison Donald, will be leaving the company to “pursue other endeavors.”
In other news, artists’ groups and major music companies applauded the tabling of the NO FAKES Act in the US Senate, a bill that would, for the first time, create a federal property right in one’s own voice and likeness.
Finally, MBW founder Tim Ingham took a look at the growing market share of indie music companies…
Here’s what happened this week…
1) WARNER MUSIC GROUP SHAKE-UP: MAX LOUSADA TO EXIT; ELLIOT GRAINGE NAMED CEO OF ATLANTIC MUSIC GROUP, WITH JULIE GREENWALD AS CHAIRMAN
Warner Music Group‘s recorded music operation is changing.
The major music company has confirmed that its global CEO of Recorded Music, Max Lousada, will be leaving WMG.
Lousada will step down from Warner at the end of the firm’s fiscal year (September 30), after eight successful years in the role, and 20 years at WMG. Lousada will remain as an advisor to WMG through January 31, 2025.
Elsewhere in a global shake-up of Warner’s structure, Elliot Grainge, the founder of 10K Projects, is becoming CEO of Atlantic Music Group, home to Atlantic Records and 300 Elektra Entertainment. That change will take effect from October 1.
Working alongside Grainge in the new Atlantic Music Group (AMG) setup at WMG will be Julie Greenwald, who has been named Chairman of AMG under the new structure…
Credit: Piotr Swat/Shutterstock
2) HYBE, THE HOME OF BTS, RESTRUCTURES GLOBAL BUSINESS AS PART NEW ‘HYBE 2.0’ STRATEGY
HYBE has unveiled a significant reorganization of its global business.
Last week, the South Korea headquartered entertainment giant announced that Jiwon Park, who has served as HYBE’s CEO for the past three years, had stepped down from his role at the company.
Jason Jaesang Lee, the company’s Chief Strategy Officer, was appointed as its new Chief Exec.
At the time, the company said that the leadership transition had all been part of HYBE’s “ongoing leadership initiative” since the start of 2024, positioning Lee as “the central figure” for its so-called “HYBE 2.0 strategy rollout”.
On Thursday (August 1 ), the company published a detailed explanation of HYBE 2.0, which it calls its new “strategic direction and business plan”…
3) ARTISTS AND MAJOR MUSIC COMPANIES APPLAUD INTRODUCTION OF ‘LANDMARK’ NO FAKES ACT IN US SENATE
Numerous groups representing artists and rights holders have backed new ‘landmark’ legislation designed to fight the proliferation of AI deepfakes – including musical deepfakes – in the US.
The Nurture Originals, Foster Art, and Keep Entertainment Safe (NO FAKES) Act would establish, for the first time, a federal property right in one’s own voice and likeness.
The bill was introduced in the US Senate on Wednesday (July 31) by two Democratic senators – Sen. Chris Coons of Delaware and Sen. Amy Klobuchar of Minnesota – and two Republicans, Sen. Marsha Blackburn of Tennessee and Sen. Thom Tillis of North Carolina.
The bill has received backing from many prominent members of the music industry, including Warner Music Group CEO Robert Kyncl, who appeared before the Senate Judiciary Committee in April in support of the legislation…
4) ALISON DONALD, KOBALT’S HEAD OF GLOBAL CREATIVE, TO EXIT COMPANY
Alison Donald, Kobalt’s Head of Global Creative, has announced she will leave the company at the end of the month to “pursue other endeavors.”
According to Kobalt, the exec has been a “key driver of culture” during her seven-year tenure at the company, signing talent such as Sam Fender, Cigarettes After Sex, Koffee, Gabriels, Jungle, Khruangbin, Rage Against the Machine, The Last Dinner Party and Tom Odell.
Donald joined Kobalt in 2017, overseeing A&R and creative in the UK and Europe for both Kobalt Music Publishing and AWAL’s UK and Europe creative teams.
Donald was promoted to Head of Global Creative just over a year ago, dividing her time between London and Los Angeles…
5) INDIES ARE NIBBLING INTO THE MAJORS’ STREAMING MARKET SHARE. AFTER BELIEVE SAGA, HOW MIGHT WARNER MUSIC GROUP RESPOND?
Six months ago in this column, I laid out why I believed we were odds-on to see a large-scale (likely $1bn+) acquisition in the independent distribution and services space this year.
Subsequent to that column being published, Warner began sniffing around Believe, mulling a potential USD $1.8 billion bid for the French company before ultimately walking away. Believe was not deemed the ideal M&A target for Warner – but I still reckon we’ll see one or multiple acquisitions from WMG in this field in the months ahead.
There are a few key reasons why, beyond the fact that WMG CEO Robert Kyncl has previously expressed his desire to accelerate Warner’s presence amongst “middle-class” indie artists.
Firstly, Warner will be keen to close the gap, size-wise, on its two biggest rivals, Sony and Universal.
Another key driver for Warner Music Group’s acquisitive interest in the modern indie distribution sector? The changing face of the music biz…
MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.Music Business Worldwide
