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.
MBW’s most-read stories this week centered on the legal dispute between Drake and Universal Music Group over Kendrick Lamar‘s diss track Not Like Us.
The fallout took a dramatic turn this week when Drake filed a defamationlawsuit against the company, with UMG outright rejecting the claim.
In other UMG news, the firm announced that Pershing Square Holdings, led by billionaire investor Bill Ackman, has requested a secondary listing of the music company on a US stock exchange. Pershing Square Holdings will have to sell $500 million of UMG stock to make the US listing happen.
Elsewhere this week, the Supreme Court upheld the law requiring TikTok to sell its US operations or shut down in the US. Reports indicate President-elect Donald Trump is considering an executive order to delay the law’s implementation.
Plus, MBW reported on the growing whispers that $500 million-valued Tempo Music will be the next major acquisition in the business.
The music industry’s attention and sympathy continued to be directed to Los Angeles this week in the wake of the devastating wildfires. The FireAid benefit concert – produced by Shelli & Irving Azoff and the Azoff family, in conjunction with Live Nation and AEG Presents – has confirmed a number of performers for the January 30 charity event.
Three years ago, MBW told you that Tempo Music, the music rights fund launched by private equity giant Providence, was looking to sell its catalog at a valuation of around $500 million.
The sale didn’t happen. As interest rates began to rise steeply in markets including the UK and US, blockbuster acquisitive activity in music famously cooled.
Last year, though, with interest rates declining and/or looking more stable in leading territories, chatter began to pick back up about Tempo.
Now we’re hearing increasingly loud whispers that we’re weeks away from the conclusion to this story: a sale of Tempo’s portfolio at a valuation of around half a billion dollars…
Universal Music Group has responded to a defamation lawsuit filed by Drake on Wednesday (January 15).
Within the lawsuit, the superstar artist accuses UMG of promoting a “false and malicious narrative” about him via the content of the lyrics, single artwork, and music video for the Kendrick Lamar diss track Not Like Us.
In response to the defamation lawsuit, a spokesperson for Universal Music Group told MBW that “not only are these claims untrue, but the notion that we would seek to harm the reputation of any artist — let alone Drake — is illogical.”
UMG’s spokesperson added the company “will vigorously defend this litigation to protect our people and our reputation…”
The clock is officially ticking for TikTok in the United States.
Last Friday (January 10), lawyers for the social media app tried to convince US Supreme Court Justices to either scrap or temporarily block a law that could see TikTok banned in the market if its Chinese owner ByteDance doesn’t sell the app in the US by January 19.
Today (January 17), the Supreme Court announced its decision: The law will be upheld, which means TikTok’s US operations must be divested to avoid being shut down in the market – where it counts over 170 million users…
Universal Music Group (UMG) announced Wednesday (January 15) that Pershing Square Holdings, led by billionaire investor Bill Ackman, has requested a secondary listing of the music company on a US stock exchange.
Under a previously disclosed agreement, UMG will facilitate an underwritten offering for Pershing Square to sell a portion of its shares by September 15, 2025.
The deal requires Pershing to sell at least $500 million worth of its UMG holdings as part of the listing process…
Shelli and Irving Azoff, and the Azoff family, have teamed up with Live Nation and AEG Presents to host two benefit concerts to raise funds for communities devastated by the ongoing wildfires in Southern California.
Among the headliners for the FireAid concerts are Billie Eilish and Finneas, Earth, Wind & Fire, Gracie Abrams, Green Day, Gwen Stefani, Jelly Roll, Joni Mitchell, Katy Perry, Lady Gaga, Lil Baby, P!nk, Red Hot Chili Peppers, Rod Stewart, Sting, Stephen Stills, Stevie Nicks, and Tate McRae. Additionally, Dave Matthews and John Mayer will perform together for the first time.
Both concerts will take place the same night – Thursday, January 30 – at the Intuit Dome and the Kia Forum, both in Inglewood, L.A….
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
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