Sony buys up Ministry of Sound Reordings

Sony Music UK acquired Ministry Of Sound Recordings, best known for its hit tracks and compilations business, with recent brands including Running Trax, I Love Summer, The Mix and Throwback Slowjams and artists including Example, Wretch 32, DJ Fresh, Sigala and London Grammar (pictured). To date, Ministry boasts cumulative album sales in excess of 70 million, including 40 UK No. 1 albums and 21 UK No. 1 singles.

Doug Morris, Chairman and CEO, Sony Music Entertainment, said: “This agreement underscores our ongoing commitment to investing in great artistry and hit music. On behalf of the entire Sony Music family, I’m excited to welcome the wonderful artists and talented team at Ministry of Sound Recordings to our line-up of world-class creative centres."

Major labels vie for dominance in global music market

The market dominance of Universal and Sony in the recorded music and music publising sectors remains unchecked as the latest MBW analysis shows Universal Music Group took 42.7% of total revenues accrued by the major record companies in the first half of 2015.  Sony Music Enterttainment had a 33.3% share and Warner Music Group 24%.  Together the three majors control about 75% of the recorded music sector.

In terms of music publishing, Sony/ATV remained way out in front with 51.2% of income in H1 2015. Universal Music Publishing had 30.3%,  and Warner Chappell an 18.5% share.

Across the entire corporate groups of the major trio, including recorded music, music publishing and other operations, UMG claimed 41.2% of total revenue, with Sony following on with 36.3% and Warners 22.2%. 




More here http://www.musicbusinessworldwide.com/universal-claims-43-major-label-money-first-half-2015/

Warner losses narrow, Sony post 14% growth

Warner Music saw revenues grow and losses narrow in the final quarter of 2013. Revenues were up from $769 million in the same quarter a year earlier to $815 million, while net loss was down from $80 million to $37 million. Warnerr's 2013 acquisition of the Parlophone Records business in Europe aided the revenue hike. WMG CEO Stephen Cooper told reporters: "There were a number of bright spots this quarter, including strong growth in steaming revenue for our recorded music business and solid performance from our music publishing business. While we had a light release schedule this quarter, we are enthusiastic about our release schedule for the second half of the fiscal year".

Global releases from One Direction, Beyoncé and Miley Cyrus helped Sony Music (both the record label and sony/ATV music publishing) post revenues up 14.4% year-on-year in the last quarter of 2013 resulting in an operating profit rise of 32.5% -  $1.38 billion in revenue and $207 million in profit. Record sales in Japan, however, were down a little year-on-year, though that was blamed on a light release schedule compared to late 2012. 

SESAC sold, Sony and Syco profits up

Investment firm Rizvi Traverse Management, which has various existing interests in the entertainment industry (including co-ownership of the Playboy empire), has acquired a 75% majority stake in the smaller of the American publishing rights collecting organisations, SESAC, which (unlike ASCAP and BMI) is a commercial entity rather than a not-for-profit organisation.

Sony Music have filed accounts in the UK which show that in the financial year that ended during 2012, Sony's UK record company saw revenues fall 2.4% year-on-year to £191 million, but pre-tax profits nevertheless grew 128%, from £6.6 million to £15.2 million. In the 

financial year ended 31 Mar 2012, Simon Cowell's Syco Entertainment (in which Sony has a 50% stake) saw turnover nearly double, shifting from £28.1 million to £54.7 million, with profits up from £3.2 million to £22.9 million. Much of the boost came from the growth of Syco's US interests, in particular the launch of 'X-Factor' in America, with US operations now accounting for nearly 42% of total turnover.