Friday, 26 February 2016

Live Nation: 2015 was a "Record year"

Boosted by a strong fourth quarter, Live Nation posted revenues up 11% at $7.6 billion in 2015 and adjusted operating income of $616 million, up 11%, both at constant currency. In the fourth quarter of the year, revenues were up 17% to $1.8 billion, but with an operating loss of $34m.

In a letter to shareholders, CEO Michael Rapino labelled 2015 “a record year” for Live Nation saying "We built on our global leadership position in every part of our business, with more fans in both North America and internationally and across our full portfolio of arenas, amphitheaters, festivals, theaters and clubs" and the company said " We continue to see the tremendous power of live events, with strong global consumer demand.  Live is a truly unique entertainment form - it cannot be duplicated.  It is elevated, not threatened by technology and is borderless.  Fans around the world can now discover, follow, share and embrace artists, creating greater demand for live shows."

Thursday, 25 February 2016

The Brits - the Winners

Adele won four BRIT  Awards, with the XL/Beggars artiste picking up  British Female Artist, British Single, Album Of The Year and the BRITs Global Success Awards. Bjork picked up Best International Female Solo Artist. Her last album, Vulnicura, is signed to One Little Indian in the UK.

Australia's Tame Impala (Modular Recordings/UMG) won Best International Group and UMG's wins included British Breakthrough Act (Catfish & The Bottlemen), British Male Solo Artist (James Bay), Best International Male Solo Artist (Justin Bieber) and the Critics' Choice Award for Jack Garratt. Coldplay won the BRIT for Best British Group, One Direction won best video for 'Drag Me Down' and Charlie Andrew won best producer. David Bowie was posthumously honoured with the Icon Award.

Wednesday, 24 February 2016

Live Nation gets Big in Africa

Live Nation Entertainment has expanded into South Africa by acquired a controlling interest in Big Concerts – the territory’s leading concert promoter. Big Concerts will continue to be led by Attie van Wyk as Chairman and Justin van Wyk as Chief Executive Officer.

Access for people with disabilities - a work in progress

Attitude is Everything, the charity dedicated to improving deaf and disabled people’s access to live music, has released its 2016 report on the state of access in the events industry. The launch of the report, which was attended by venues, organisers and other industry professionals, also featured a panel discussion on best practice accessibility. The report covers onsite and online access information, as well as the challenges deaf and disabled people often face in the immediate environment around a live music venue.

Attitude is Everything chief executive Suzanne Bull MBE told reporters: “Or aim is to highlight areas of good practice and progress” and  “At the same time the report is an opportunity to reflect on the barriers faced by deaf and disabled people” adding “A lack of decent online access information websites has become a constant source of frustration to millions of disabled fans” and “Evidence suggests that many will not risk attending an event if they are unsure about access facilities. We should not be letting these online failures hold back the tide of progress, especially when they are so easy to fix.”

Glastonbury’s Emily Eavis, who wrote the foreword of the report, said: “It is a vital that all festival goers can easily access clear information about how to buy tickets, what facilities are available onsite and how they can arrange for the necessary support in order to be able to attend. We’re very pleased to be continuing our work with Attitude is Everything to ensure this.”

More here


Pascale Khalaf has been promoted to the influential role of VP Synch & Licensing at Warner/Chappell Music UK. Based in the WMG-owned company’s London offices, she will report to Richard Manners, Warner/Chappell Music UK’s Managing Director.

Patti Coleman has been named Senior Vice President and Head of Business and Legal Affairs at Rhino Entertainment, the catalogue division of Warner Music Group.

London's Southbank Centre has appointed Bengi Ünsal as its senior contemporary music programmer. Ünsal was previously director of Salon at the Istanbul Foundation for Culture and Arts (IKSV). 

Stu Bergen has been promoted to the newly created post of CEO, International and Global Commercial Services for Warner Music Group (WMG).

UK-born independent music publisher Sentric Music has appointed publishing veteran Peter McCamley as Creative Director. McCamley also joins the business’s board.

Dror Erez, who was part of the team that sold Melbourne-based festival promoter Totem OneLove Group to SFX Entertainment in 2014 has left the company. His move came two days after SFX’s filing for chapter-11 bankruptcy. Two other directors, James Beatty and Amanda Hough also resigned. The company operates the Stereosonic festival and the A State of Trance festivals in Australia. Remaining director Richie McNeill, who co-sold Stereosonic to now-bankrupt SFX in 2014, is upbeat about the future of the Steresonic festival said that SFX “going into a chapter 11 [bankruptcy] and a restructure, potentially wiping out the equity from the shareholders, […] is a great outcome” and reveals that “there’s a lot of good stuff coming: new events, there’s expansion in terms of the touring side of the business… [the SFX bankruptcy] doesn’t affect us.”

Geoff Kempin
Music video licensing company VPL HAS announceD the appointment of Geoff Kempin as its new Chairman, following the retirement of Fran Nevrkla as Chairman at the end of 2015. Kempin has been a director of VPL since its inception in 1983 and continues to be Executive Director of Eagle Rock Entertainment. 

Keith Jopling has joined Spotify’s London office as the new Global Head, Strategic Intelligence for the streaming company.

Michael Pallad, formerly Apple Music's Director of Sales, has joined New York-based ad-tech platform Undertone.

Nancy Skipper has been appointed the new general manager of the European Arenas Association. Skipper, who is a founding partner in live events company Ginger Owl Productions, has been an administrator to the executive for the National Arenas Association for the past eight years.

Echo Arena Liverpool has appointed Kay Wilson as its new head of sales. She joins from the Scottish Exhibition and Conference Centre (SECC), where she was general manager of live entertainment sales.  

Universal news: Charlie Walk, has been promoted to President of UMG's Republic Group, effective immediately. At the newly formed Republic Group, Walk will create business opportunities, as well as providing marketing and promotional services to partner labels, including American, Brushfire, Casablanca, Cash Money, John Varvatos, Lava, Monkeywrench and XO Records.

In other UMG news, Major restructung at UMG has resulted in significant job losses.  Universal Music Group International (UMGI) division has lost some 50 jobs in London and restructuring was also undertaken at Los Angeles-based Capitol Music Group in November/December last year. MBW understands that around 35 jobs were cut during this period, including a string of promotions and marketing staff. Prominent names believed to have gone included VP of Promotion Howard Petruziello, plus Marketing Director Matt Kroepel and VP of Publicity Juliana Plotkin.

Dr. Alexander Buhr has been appointed Managing Director of Universal Music’s London-based Decca Classics, succeeding Paul Moseley, who is promoted to Senior Vice President of Strategic Content and Partnerships, Global Classics.

Polydor marketing exec Liz Goodwin is ending her 14-year tenure at the UMG imprint and heading to Glassnote to become MD of the indie label's UK office. 

And Pascal Nègre - the man who has led Universal Music France since 1998 - is leaving the major. Olivier Nusse, Managing Director of Mercury Music Group and Universal Classic & Jazz in the region, has been appointed CEO of Universal Music France, succeeding Nègre.

Miami attorney Leslie Zigel, known for representing Pitbull and other Latin stars including Colombia's Carlos Vives and urban hitmaker Wisin, has joined the Florida firm Greenspoon Marder Law.

Veteran agent Tony Gold has left UTA to join Concerted Efforts in Somerville. Before UTA, he was at the Rosebud agency for 15 years.

Matthew Lazarus-Hall is to stand down as CEO and co-director of Michael Chugg’s Chugg Entertainment, one of the leading concert promoters in Australia. Lazarus-Hall is stepping aside to focus on his young family and start his own consultancy business, through which he will continue to run the CMC Rocks QLD festival operations.

Ryan Wright, has been promoted to Chief Marketing Officer at Kobalt’s New York office, a position in which he will oversee marketing, communications and client experience for Kobalt and its brands (including Kobalt itself, plus Kobalt Neighbouring Rights, Kobalt Label Services, AMRA and AWAL).

Tuesday, 23 February 2016


My friend and colleague Andrew Potter has died after suffering a stoke and heart attack. Formerly Publishing Director of the Oxford University Press and Chair of the Performing Right Society, and more recently Chair of DACS, which campaigns for the rights of visual artists and pays them royalties that help sustain their practice and livelihood, and an admired and respected educator, primarily at Buckinghamshire New University. Andrew was hugely inspirational and much loved professional. 

Anfdrew was also Chair of the London Arts in Health Forum, a Trustee of Money Advice and Community Support Chair of Creative Futures, the charity which organises exciting arts projects, working with young people and those at the fringes of society - and Musical Director
The Sussex Gruffs.  One of his students told me "I use what he taught me most days of my job" - he was a a remarkable man. 

His wife, Jan Spooner Swabey, posted the very sad news on Facebook. Andrew's funeral will be on the 8th March at St Andrews Church in Tarring, in Worthing, Sussex, at 2pm. 

Thursday, 18 February 2016

SFX figures show a $18 million loss for 2015

Whilst SFX had predicted a $500 million turnover and $60-70 million profit for 2016 - new figures which have been made public through the troubled EDM promoter's Chapter 11 bankruptcy. 2015 revenues were $336.9 million - the same as 2014 - with a loss of $18 million. The 2015 figures include estimates for the fourth quarter and are not final numbers. Billboard says the SEC filing makes clear why SFX filed for bankruptcy protection and agreed to undergo a restructuring. Months ago, SFX expected to have a negative cash balance of $29.9 million in January after interest payment and earnouts totalling $28 million. By March, it expected to have a negative cash balance of $33.1 million -- over $58 million under management's preferred $20 million cash buffer. North American live events generated $140 million in revenue in both 2014 and 2015, but losses more than doubled, from $5 million to $13.2 million. Other live events segments, including international live events and ticketing, had positive earnings in 2015. Download and streaming service Beatport lost $5.5 million.

NME Awards 2016 - the winners!

The NME Awards 2016, held at London's O2 Academy Brixton last night (17.02.16) and  hosted by Radio 1 DJ Huw Stephens, saw Coldplay receive the Godlike Genius Award, with the band closing the ceremony with a live performance. Yoko Ono, meanwhile, picked up the NME Inspiration Award a day prior to her 83rd birthday.

The Maccabees were crowned Best British Band, while Run The Jewels took the prize for Best International Band. Rat Boy, who also performed on the night, won Best New Artist, Charli XCX won Best British Solo Artist and Wolf Alice took home Best Live Band.

Foals won the award for Best Album  and Wolf Alice picked up another gong for for their song 'Giant Peach'. This is England '90 was voted Best TV Show, Beasts Of No Nation took home Best Film, while Blur: New World Towers won Best Music Film category.

Elsewhere, Glastonbury was voted the Best Festival and The Libertines took two awards home: Music Moment Of The Year for their secret Glastonbury set and Best Fan Community.

Tuesday, 16 February 2016

Event Production Awards 2016 - the winners!

EPA winners!
The Event Production Awards 2016 winners are:

Best Audio Visual Supplier
Creative Technology

Best Crewing Company
Connection Crew CIC

Best Security Company
Specialized Security

Best Fencing/Crowd Barrier Company
Eve Trakway

Best Flooring/Trackway Company
LION Trackhire

Best Staging Company
Actavo Events

Best Structure Company

Best Plant Company
Winner Events

Best Indoor Venue of the Year
Banqueting House

Best Technology Provider

Best Ticketing Company

Green Supplier of the Year
Big Green Coach Ltd

Best Outdoor Venue of the Year
Hampton Court Palace

Sustainable Event of the Year
Arcadia Metamorphosis by Arcadia

Public Event of the Year
Para Tri by Sportsworld

Cultural/Food Event of the Year
London Korean Festival

Music Event of the Year
Liverpool Sound City

Sporting Event of the Year
Progress Productions for Rugby World Cup 2015

Best Visual Spectacular
Fantastic Fireworks for The War of the Worlds Spectacular

Brand Activation of the Year
Sense Marketing for Guitar Hero Live

Production Team of the Year
Ground Control

Access All Areas Editor’s Award
Tania Harrison

Pollstar 2016 winners crowned

Arena of the Year
Madison Square Garden Arena

Best Major Outdoor Concert Venue
Hollywood Bowl

Best New Major Concert Venue
Ascend Amphitheater

Best New Touring Artist
The Weeknd

Bill Graham Award/Promoter of the Year
Louis Messina

Bobby Brooks Award/Agent of the Year
Chip Hooper

Booking Agency of the Year
Paradigm Talent Agency

Comedy Tour of the Year
Amy Schumer

The Glastonbury Festival
Facility Executive of the Year
Rena Wasserman

Independent Booking Agency of the Year
High Road Touring

International Music Festival of the Year
Glastonbury Festival

International Promoter of the Year
Michael Chugg

International Venue of the Year
The O2, London

Lighting Company of the Year
Bandit Lites

Major Music Festival of the Year
Coachella Valley Music & Arts Festival

Major Tour of the Year
Taylor Swift

Most Creative Stage Production

Music Festival of the Year
Newport Folk Festival

Nightclub of the Year
9:30 Club

Nightclub Talent Buyer of the Year
Josh Moore

Personal Manager of the Year
John Silva

Red Rocks Award/Best Small Outdoor Venue
Greek Theatre, Los Angeles

Road Warrior of the Year
Dale ‘Opie’ Skjerseth

Sound Company of the Year

Staging/Equipment Company of the Year

Emma Banks
Talent Buyer of the Year
Don Strasburg

Theatre of the Year
Ryman Auditorium

Third Coast Agent of the Year
Adam Voith

Transportation Company of the Year
Rock-It Cargo

UK Booking Agent of the Year
Emma Banks

Video Company of the Year
Moo TV

Highlights of the 2016 Grammy Wins

Record of the year "Uptown Funk" by Mark Ronson featuring Bruno Mars

Album of the year  "1989" by Taylor Swift

Song of the year "Thinking Out Loud": Ed Sheeran & Amy Wadge, songwriters (Ed Sheeran) 

Best rap album "To Pimp A Butterfly": Kendrick Lamar 

Best country album "Traveller": Chris Stapleton 

Best urban contemporary album "Beauty Behind the Madness": The Weeknd

Best pop duo/group performance  "Uptown Funk": Mark Ronson featuring Bruno Mars 

Best new artist  Meghan Trainor 

Best dance recording "Where Are Ü Now": Skrillex and Diplo with Justin Bieber 

Best rock performance "Don't Wanna Fight" : Alabama Shakes 

More here

Sunday, 14 February 2016

Woodstock to return in 2019

Woodstock organiser Michael Lang, who promoted the original ‘three days of peace and music’ with John P. Roberts, Joel Rosenman and Artie Kornfeld in August 1969,  has revealled that Woodstock will return in 2019, presumably at a location near Bethel in New York, although the promoter is currently scouting out a number of different locations. The 2019 edition may be joined by an international sister event, and Lang says he sees an annual Woodstock festival continuing on past 2019’s 50th anniversary event. Woodstock is “the original and most famous festival brand” Lang tells the Poughkeepsie Journal adding “With the prevalence of festivals out there, and all the excitement about them, maybe it’s time [for an annual event].” Around 350,000 fans attended the first large-scale Woodstock anniversary concert, Woodstock ’94, from 12 to 14 August 1994. Held on Winston Farm in Saugerties, New York.

Viola Beach reported dead in Swedish car accident

Four members of indie band Viola Beach and their manager have died after their car crashed into a canal in Stockholm, Sweden. The British band was reportedly travelling over a bridge when they went through a barrier and plunged 80ft into a canal in the Södertälje district. Swedish media reported that the bridge was closing after it had opened to allow a vessel to sail through and that warning lamps were flashing and two barriers blocked the road. The victims were named as band members Kris Leonard, River Reeves, Tomas Lowe, Jack Dakin and manager Craig Tarry.

Monday, 8 February 2016

SFX event organisers pay a heavy price for Chapter 11

Many of SFX Entertainment’s largest creditors are SFX-owned promoters who were awaiting deferred payments for selling their events and companies to the failed EDM group. According to a 476-page creditor matrix seen by IQ Magazine.11 of SFX’s 13 largest ‘non-insider’ creditors – (ones not associated with the company’s founder and former CEO, Robert FX Sillerman) are the owners of some of the many companies purchased by SFX since its founding in 2012.

SFX currently lists assets of $661.614m and debts of $490.236m. Sillerman and funds controlled by him own 37.8 per cent of the company’s common stock. IQ says "This means that a large proposition of SFX Entertainment’s creditors are still deeply involved in the company – and have a vested interest in seeing it continue in one form or another."

The largest unsecured creditor is Dutch EDM firm Alda Events which is owed $23.6 million.

SFX also owes $10 million to Made Events, creators of Electric Zoo in New York, Electric Zoo Mexico City and Electric Zoo Beach Tokyo. Chicago promoter React Presents, which organises Summer Set Music & Camping Festival and Spring Awakening, and also owns Clubtix, Inc., is out $5.8m. Principals at Australia’s Totem OneLove Group, which promotes Stereosonic festival, are owed $10.7m (through Artists Alliance Australia Pty Ltd, Beggars Canyon Investments, Deyson Pty Ltd, Sellmark International Pty Ltd & Peter John Raftopoulos). Hoeksema Holdings, run by Theo Hoeksema, the former CEO of Paylogic, is owed $2.5m, while co-founder Jan Willem van der Meer is short $792,000, and co-founder and former CTO Berco Beute $528,000.

Trade creditors are also facing a shortfall, with those listed on the top 40 creditors list including private air-charter firm VistaJet (owed $1m), Epic Tents of Georgia ($442,650), PRS for Music ($327,680), NYC-based app-builder Postlight ($315,000), Front Gate Ticketing ($301,400) and event medical services company CrowdRX ($269,600).

SFX filed for bankruptcy on Monday in a ‘restructuring support agreement’ which wipes over $300m in debt from the company’s books. SFX Entertainment has now been granted initial approval to begin spending part of a $115 million bankruptcy loan. A bankruptcy judge granted the New York-based company access to $80m of the loan, which is being provided by junior bondholders that have worked with the firm on the terms of a restructuring agreement. It will be used to pay off senior lenders and provide $23m to cover operational expenses, reports the Wall Street Journal.

SFX founder and CEO Robert Sillerman (pictured) will resign from the company in the next 60 days and will be replaced on an interim basis by the firm's chief restructuring officer Michael Katzenstein. General counsel Howard Tytel also plans to resign, according to SFX attorney Nancy Mitchel

SFX floated on the New York Stock Exchange in October 2013 for an initial public offering of $13 per share; by the end of January 2016 its share price stood at 13¢. and

Friday, 5 February 2016

Lollapalooza Berlin loses home to make way for migrants

The deserted Berlin Tempelhof Airport site – the location of last year’s European Festival Award-winning Lollapalooza Berlin – will be used to house refugees “no later than the end of 2019”, reports the Berliner Kurier. This means the 45,000 capacity Lollapalooza Berlin, organised by Hörstmann Unternehmensgruppe/Melt! Booking and promoted by Festival Republic and C3 Presents, will now be looking for a new site elsewhere in the German capital. A spokesman for the festival told IQ that the festival will take place “somewhere else in the centre of Berlin”.

The 2016 festival is due to take place on 10 and 11 September.

Bamako festival to be annual

The new Acoustic Bamako festival (Festival Acoustik) which featured Damon Albarn,  Tony Allen and Songhoy Blues in the last weekend of january 2016 - the first to be held in Mali’s capital since the terrorist attack of 20 November – is to become an annual event according to Malian musician Toumani Diabaté who organised the event. Diabate says he plans to turn the festival into an annual event despite the fact the West African country has been under a nationwide state of emergency since al-Qaeda-linked jihadists killed 20 people in an attack on the Radisson Blue Hotel in Bamako. "It’s very important for me, for us, to get Malian culture going,” Diabaté told AFP. “You see, Mali is the heart of culture in Africa.”

Northern Mali (Azawad) came under the control of Islamist groups in 2012, which implemented sharia law, banning music and closing bars, music venues, nightclubs and radio and television stations. The famous Festival in the Desert (Festival au Désert) has been on hiatus since 2012. Military invention from France largely ousted the Islamists in January 2013, although a low-level insurgency continues.

Tuesday, 2 February 2016


UK ticket agency The Ticket Factory has appointed a new groups sales manager to its Birmingham-based office.  Daniel Handley has worked within the ticketing industry for 11 years, takes on the new role after being promoted from his position as client services account manager.   Also joining the client services team to take the vacant account manager position is Rachel Floyd.

Former CAA agent Cara Lewis has left the mega agency and has launched CL Group and hired an assistant and publicist at new offices located in Manhattan. It's unclear what will happen to her high profile clients, including Eminem,  Iggy Azalea, MAGIC!, Waka Flocka, Rita Ora and Pusha-T.

Dutch live entertainment giant Stage Entertainment cutting up to 350 jobs after losing approx €19m last year.

Mojo Barriers has announced the promotion of Alex Borger to director as part of the firm's European restructure.

David Guetta and Kobalt Music Group lawyer Gary Stiffelman is joining global law firm Greenberg Traurig as a shareholder in the Entertainment & Media Practice, working from the firm’s offices in Los Angeles. Stiffelman, who has nearly 35 years of entertainment and media experience, was previously at Ziffren Brittenham.   

Madison Square Garden has apparently a number of senior executives after discovering they were reselling NBA tickets on StubHub. More here

BBC Radio 1 and 1Xtra today announced that they have appointed Chris Price as the Head of Music for Radio 1 and 1Xtra.

Sam Taylor has joined Kobalt as Senior Vice President, Creative. Taylor will report directly to Sas Metcalfe, Global President of Creative and Sue Drew, GM Creative and Acquisitions. And Jeannette Perez has been appointed as SVP, Head of Global Synch & Brand Partnerships at Kobalt.

Spotify is hiring positions including a Business Development Director, Music Programmer and Head Of Communications in Japan.

A&R executives Jennifer Knoepfle has been upped to SVP and Head Of West Coast A&R at music publisher Sony/ATV. Amanda Berman-Hill also gets promoted to the new role of Senior Vice President and Head of West Coast Writer Relations, also based in Los Angeles. 

A series of internal role changes have been announced at Universal Music Latin America, impacting the label’s digital arm and day-to-day operations. Executives Luis Estrada, Skander Goucha, Alejandro Duque and Horacio Rodriguez all have new titles and responsibilities within the company.  Estrada, the longtime GM for Universal Music Latino, Machete and Capitol Latin, will now be MD for Aftercluv, the dance music label and platform that he was also heading since its launch a year ago.

Frank Arigo, Senior Vice President of Marketing at UMG's Republic Records, has taken up the same position at Sony's Columbia. Arigo had worked at UMG for two decades. 

Mike Easterlin has been promoted to President of two Warner Music Group labels: Fuelled By Ramen and Roadrunner Records.

Digital music distribution and services company FUGA have hired René Andreasi-Bassi as Head of Digital Marketing & Promotions and Michael Cassidy as Head of Operations in preparation for future expansion.

Thomas Rabe has signed a new five year deal to remain as CEO of Bertelsmann – the Berlin-based media giant and parent to BMG.

Former Head of Music at Lionsgate Entertainment, Carter Armstrong, has joined peermusic in the newly created position of Senior Vice President, Film and Television.

Syco Entertainment, Simon Cowell’s global joint venture with Sony Music, has appointed Tim van Rongen to the role of Senior Vice President of the company. The exec was most recently Executive Producer at Talpa Global BV, where he worked on both The Voice and The Voice Kids in countries including the UK, China, Germany, France and Italy.

Ticketfly, which itself was acquired by Pandora back in October, has completed the acquisition of TicketBreak, a ticketing service company owned by leading Canadian independent music firm MapleCore Ltd.

BMG US has announced the promotion of Zach Katz to President of Music Publishing. Based in Los Angeles, Katz will continue to report to Laurent Hubert, President of Creative & Marketing.

PRS and PPL lauch a new joint venture for public peformance licensing

COPYRIGHT: In the United Kingdom, PRS for Music and Phonographic Performance Limited (PPL) have confirmed that, following a strategic review commenced in 2015, the two companies plan to create a joint venture. The new company, jointly and equally owned by PPL and PRS for Music, would focus on serving all PPL and PRS for Music UK public performance licensing customers for both music and sound recording rights. PPL is the music licensing company which works on behalf of record companies and performers to license recorded music played in public. PRS for Music represents the rights of over 115,000 songwriters, composers and music publishers in the UK. 

The two CMOs say that this will further streamline the experience for customers obtaining public performance licences, allowing them to secure a joint PPL and PRS for Music licence |"with a single phone call or a few clicks on the web, paid for with a single invoice." Over the coming months, PRS for Music and PPL will be undertaking the necessary preparatory work for the joint venture "Including engagement with regulators and other key stakeholders."

It is anticipated that the new company would start licensing in 2017, followed by a 12-month period during which the full transition of public performance licensing would be completed. It is likely that the new joint venture will be located in a UK city outside the M25.

Robert Ashcroft, Chief Executive, PRS for Music, said, “Creating a single point of contact for our UK public performance customers would allow us to significantly simplify music licensing for UK businesses. It is in our members’ and customers’ interests to ensure that our licensing is ever more accurate and efficient. A joint venture between our organisations would be a landmark event for both societies.”

Peter Leathem, CEO, PPL commented, “Both our organisations firmly believe that the proposed joint venture would be a very positive development for both our customers and our members, building on the successful joint licensing solutions and other joint working initiatives that PPL and PRS for Music have delivered over the last few years.”

Monday, 1 February 2016

SFX files for Chapter 11 Bankrupcy

SFX Entertainment has filed for Chapter 11 bankruptcy in the US. The EDM, Tomorrowland. and Beatport owner will see $300m in debt wiped off  it's balance sheet, and see it go private as part of a new Restructuring Support Agreement (RSA) with creditors. Robert Sillerman is stepping down as CEO as part of the bankruptcy process, but will remain as Chairman. SFX says it has reached an agreement with an ad hoc group of bondholders (“ad hoc group”) to significantly restructure the Company’s outstanding debt, including the conversion of ‘the majority of the bondholder group debt into equity in a newly strengthened private company’. These ‘ad hoc bondholders’ have additionally agreed to provide SFX up to $115m in DIP (debtor-in-possession) financing, allowing the firm to operate as normally as possible over the next few months. Beatport moved to reassure its partners that it’s “business as usual” at the service – including royalty payments to labels – despite parent SFX filing for Chapter 11 bankruptcy

More on MBW here