Universal Music, the largest publisher of music in the world, may be listed on public stock markets through a massive deal with billionaire investor Bill Ackman's special purpose acquisition company, Pershing Square Tontine Holdings, according to a source. The deal, which is still being negotiated and could fall apart, would value Universal Music at over $40 billion.
UMG is the owner of renowned labels including Capitol Music Group, Def Jam Recordings, Island and its own brands, among others. Artists in its massive catalogue include the Beatles, Justin Bieber, Lady Gaga and Taylor Swift. In the first quarter of 2021, UMG generated 1.8 billion euros of revenue, a 9.4% increase, and earnings before interest and taxes of 322 million euros, a 35.8% increase.
Controlled by media conglomerate Vivendi and minority owned by investors including China's Tencent Group, UMG has been looking at listing on public markets this year, alerting shareholders to its prospective listing a month ago. It appears UMG may chose to go public via SPAC, instead of an outright IPO. SPACs presently sit on over $150 billion in cash to spend taking privately-held companies public. Ackman's SPAC is the largest in the marketplace.
In July 2020, Pershing Square Tontine Holdings raised over $4 billion in a record-sized initial public offering for the SPAC market. At an enterprise value north of $40 billion, its potential UMG deal would the largest SPAC transaction yet.
Since the summer of 2020, Ackman has been on the hunt for a large company to merge with his SPAC and take public. Last fall, Ackman kicked the tires on businesses like financial data company Bloomberg, and was reportedly interested in fintech Stripe, but no deals ever culminated.
UMG is the largest among a triumvirate of music publishing giants, alongside Sony Music and Warner Music Group. A year ago, Russian billionaire Len Blavatnik listed Warner Music on the on the Nasdaq at a $15 billion valuation, beginning to monetize a massive multi-billion dollar windfall.
Once stagnant, the music publishing business has boomed in recent years due to the rise of streaming media platforms like Spotify and Tencent Music, generating growing revenues for publishers and artists. As streaming media went mainstream, large incumbent players like Universal struck partnerships with newer streaming media companies, and even taking on the likes of Tencent as investors.
At $40 billion-plus, Ackman SPAC would be betting that the growth and profits in music still remain with massive labels like Universal. Earlier reports of Universal's potential IPO, pegged its value as high as $50 billion-plus.
Mockingbirds follow similar musical rules as those found in human music -- ScienceDaily
The North American mockingbird is famous for its ability to imitate the song of other birds. But it doesn't just mimic its kindred species, it actually composes its own songs based on other birds' melodies. An interdisciplinary research team has now worked out how exactly the mockingbird constructs its imitations. The scientists determined that the birds follow similar musical rules as those found in human music, from Beethoven to Kendrick Lamar.
The song of the mockingbird is so complex that to investigate it required a joint effort of experts from very different fields. Neuroscientist Tina Roeske of the Max Planck Institute for Empirical Aesthetics, field biologist Dave Gammon of Elon University, and the music philosopher David Rothenberg of the New Jersey Institute of Technology combined their different approaches and areas of expertise to conduct this highly unusual study, the findings of which have just been published in the open-access journal Frontiers in Psychology .
"When you listen for a while to a mockingbird," she explains, "you can hear that the bird isn't just randomly stringing together the melodies it imitates. Rather, it seems to sequence similar snippets of melody according to consistent rules. In order to examine this hunch scientifically, however, we had to use quantitative analyses to test whether the data actually supported our hypotheses."
The results were unambiguous. The authors identified four compositional strategies that mockingbirds use in transitioning from one sound to the next: changing timbre, changing pitch, stretching the transition (lengthening it in time), and squeezing it (shortening it in time). The complex melodies they create are music to the ears not only of other birds but of humans as well. So, it should come as no surprise that (human) composers of varied musical styles use similar techniques in their work.
As co-author David Rothenberg explains in a YouTube video, the Tuvan throat singing group Huun-Huur-Tu presents examples of timbre change, and pitch change can be heard in the famous opening of Beethoven's Fifth Symphony; the song "Show Yourself" from the Disney film Frozen 2 itself shows the stretching of sound transitions; and if you listen very closely to Kendrick Lamar's song "Duckworth" from the album Damn, you'll hear transitions being squeezed, or shortened.
Materials provided by Max-Planck-Gesellschaft . Note: Content may be edited for style and length.
Lil Dicky Song Is First-Ever Music Publishing NFT - Variety
The highest bidder for a new income-producing NFT will receive a cut of all future mechanical, public performance and sync royalties for Lil Dicky ’s 2015 hit “Save Dat Money.”
Spearheaded by Royalty Exchange , the world’s largest platform for buying and selling royalties, the first-ever music publishing NFT allows investors to buy music catalogs and songs using the Ethereum cryptocurrency, bringing “real” value to the NFT marketplace.
While NFT artwork and collectibles are often difficult to value based on speculation and scarcity, Royalty Exchange’s new “RXT” has an actual underlying value tied to a stream of royalty income collected by the NFT owner upon purchase.
The first token, for a cut of Lil Dicky’s “Save Dat Money,” will be sold via auction , opening for bids on June 7 at 11 a.m. ET. The winning bidder will generate income every time the song is streamed, sold, broadcast or licensed. The royalties will be paid every quarter in Ethereum, which can be converted into fiat currency (like the US dollar) or held as cryptocurrency.
While converting virtual cryptocurrency into asset-backed investments delivers real-world returns, Royalty Exchange also believes the new “RXT” will increase demand for music royalties by providing stability and diversifying the market.
“NFTs have very practical applications for buying and selling royalties, as the blockchain represents the ultimate standard in trust and transparency,” said Royalty Exchange CEO Anthony Martini in announcing the offering. “This is yet another tool to empower creators, while opening the market for music royalties to a broader spectrum of interested buyers. We’re only scratching the surface.”
Billie Eilish drops 'Lost Cause' music video - CNN
Free Outdoor Classical Music 'Carnival' and Community
Portland, Maine, June 03, 2021 (GLOBE NEWSWIRE) -- Over 20 local arts organizations and eateries will be featured in A Midsummer Night's Dream , a free carnival-style concert and community celebration for all ages in Portland Maine on Friday, June 11, 2021.
The free carnival-style concert kicks off 10 days of classical music events as part of the Portland Bach Experience from June 11 to June 20. Known for its innovative performances, unique productions and nationally-acclaimed artists, A Midsummer Night's Dream showcases this ethos with an afternoon of classical music performances, a community parade with giant puppets, children's maker-spaces, a Fairy Queen drag show and a community dance party.
According to Portland Bach Experience founder and artistic director, Dr. Emily Isaacson , "After a year of social-distancing, virtual holidays and remote schooling, A Midsummer Night's Dream is designed for the community to safely come together – in person and/or virtually – to share our talents, affirm our vitality and celebrate our endurance."
Throughout the afternoon there will be performances by Ballet Bloom Project, Bunny Wonderland and Kitty Willow, 240 Strings, Horizon Voices and several other local performing arts organizations, as well as maker-spaces with kids activities. Blue Lobster Urban Winery, 1820 Wines, Lone Pine Brewing Company, Goodfire Brewing Company and Urban Farm Fermentory will have their tasting rooms open.
Portland Bach Experience (PBE) enlivens, strengthens and connects communities by creating world-class, immersive classical music experiences for everyone, including full orchestral performances, intimate salons in art galleries, outdoor performances, educational lectures and hands-on events for children.
Portland Bach Experience began in 2017 as a week-long festival in June and has expanded to include an Oktoberfest weekend and other classical music events throughout the year. PBE is led by founder and artistic director Dr. Emily Isaacson, who was named the "Maine Artist of the Year" by the Maine Arts Commission and ArtsEngageME and one of "50 Mainers Leading the State" by Maine Magazine.
Bad Bunny Releases New Song 'Yonaguni,' Music Video
He can fill his sunlit days with endless, lonely sushi dinners, group dog walks, yoga, parties, and Pokemon Go tattoo sessions, but as Bad Bunny croons in his new single "Yonaguni," those pastimes barely help pass the time when he all wants to do is be with you in Yonaguni, Japan's westernmost inhabited island. He even ends the track by singing in Japanese. Yonaguni is also associated with a myth about an island entirely populated with women, which isn't going to do Bad Bunny much good, if you aren't one of them.
How 'Bridgerton,' 'Dickinson,' and More Made Beautiful Music | Vanity Fair
Netflix's Regency-era drama made a splash for several reasons—its nontraditional casting, its steamy sex scenes, and its innovative take on classical music, which put a sophisticated sheen on recent hits by featuring orchestral arrangements of pop songs like Billie Eilish's "Bad Guy," Maroon 5's "Girls Like You," and Taylor Swift's "Wildest Dreams," many performed by the Vitamin String Quartet.
Music supervisor Alexandra Patsavas said she "pulled over 100 songs" before finding the 5 that landed in season one. "I love that the audience might not recognize it right away—that the song would sneak up on you," she says of the arrangements. Bridgerton 's composer, Kris Bowers, cites the early 20th-century French pianist and composer Maurice Ravel as a key influence. "I wanted to make the score have as much of a modern feel to it as possible," he says. The cover of Ariana Grande's "thank u, next" in the pilot holds a special place in his heart—a shining example of Bridgerton 's uncanny ability to combine worlds. "I think it's my favorite because it's our introduction to the ball—to the grandeur of the storytelling and to our covers project."
—Chris Murphy
P-Valley 's theme song, "Down in the Valley," is a thrillingly bombastic introduction to playwright Katori Hall's series about strippers at a club called the Pynk, located in the fictional Mississippi town of Chucalissa. Developed from a demo by Memphis rapper Jucee Froot, the singsong, nursery rhyme-esque opening bars slap, as they say. Music supervisors Stephanie Diaz-Matos and Sarah Bromberg collaborated with showrunner Hall to cultivate a "trap noir" or "Delta noir" sound throughout the season, largely featuring songs performed by Black female rappers.
"There is such a musical tapestry in the area, and I think the fact that it's a mythological city let us open things up a little bit," Diaz-Matos says. "We hit hard all of our contacts, trying to find as many women—southern artists from everywhere from Texas to Florida to Atlanta." Their ambitious curation coincided with the latest explosion of women in rap. As Bromberg says, "When we were doing the show at the end of 2018, beginning of 2019, Megan Thee Stallion"—whose music Bromberg brought to the show—"hadn't even been signed to a major label."
—Cassie da Costa
Emily Dickinson stands in an empty opera theater, next to an accomplished soprano who warns that the spotlight is not everything she may want it to be. As in so many pivotal moments in Dickinson, the music accompanying the moment is modern: "Light On," a 2018 single from Maggie Rogers. As hopeful and ambitious as our protagonist, the song bridges Dickinson's past and our present, cutting through period-piece trappings to present the famous poet as someone viewers might know.
Thankfully, what resulted was a compelling and imaginative playlist with a mix of essential hits—like Janet Kay's "Silly Games" and Carl Douglas's "Kung Fu Fighting"—as well as deep cuts culled from crate digging for dub-reggae remixes. Bailie was inspired by McQueen's attention to detail: "He was thinking about the smells of the room, and the rumble of the wall, and 'Are we going to see sweat dripping down the wall?' " Over the course of the party, the music transitions from airy lovers' rock to bass-heavy dub, dotted with strategic gaps filled by characters who blissfully sing along. "The fluidity of the experience that is caught on camera is genuine to the way that [McQueen] shot it," Bailie says. "The energy and the room was like a real party at times; he made that event."
—C.D.
Because Jane Levy's title character sees people's innermost feelings as elaborately choreographed dance numbers set to pop favorites, showrunner Austin Winsberg and his writers are deeply involved in selecting the songs they want their show's cast to perform. Then it's up to music supervisor Jen Ross to wrangle the rights, often from some of the biggest artists in the world.
"We have such a shorthand now because we've done this so many times," Winsberg says. "When I'm even thinking about the songs, I'll send her a couple, and she'll tell me right off the bat, 'This one will never clear' or 'This artist is very challenging.' Sometimes we just take the big swings." Now that the show is familiar to musicians and songwriters, it's a little easier. In season two, they scored the rights to Andra Day's "Rise Up," Charlie Puth's "One Call Away," Queen's "I Want to Break Free," and Taylor Swift's "Shake It Off," each reflective of a character's resilience and yearning.
"The whole theme of the season was about the need to 'Carry On,' " Winsberg says. That song, by Fun, "was the one that I had wanted very early." Like almost everything else on Zoey 's wish list this time around, they got it.
—Anthony Breznican
Washburn’s Sunflower Music Festival back after pandemic hiatus | KSNT News
TOPEKA (KSNT) – Washburn University’s Sunflower Music Festival is back in session this year after a hiatus due to the pandemic.
The annual music festival features musicians from all across the country who perform different pieces of music each night over a 10-day span. The theme for this year’s festival is “Women in Music” in which they will honor female composers, leaders, and soloists.
The festival will also premiere a new 20-minute piece called “The Supreme Four,” composed by Libby Larsen. The new piece will honor the four female Justices in the US Supreme Court, including Sandra Day O’Conner, Ruth Bader Ginsburg , Sonia Sotomayor, and Elena Kagan.
“There are lots of folks, young families who it might stretch their budget a bit to have to buy tickets for a family of four say for example,” says Paul Post, President of Sunflower Music Festival. “Well they don’t have to worry about that. They can come here to White Concert Hall and have an enjoyable evening. Maybe they don’t know anything about classical music they’ll learn something there but they’ll have an enjoyable evening, and a wonderful surrounding, listening to beautiful music.”
There will even be a special guest appearance by Governor Laura Kelly who will be narrating the new piece “The Supreme Four.”
If you would like to donate to the festival so it can continue to be free, you can donate here .
KANSAS CITY, Kan. -- Nearly a year later, the Kansas City Kansas community wants to make sure 3-year-old Olivia Jansen's memory is not forgotten.
Officers responded to a report early Tuesday morning found Kristie Fisher lying face down near the south entrance of Lakewood Park. Medical services declared her dead on scene.
VASSAR, Kan. (KSNT)- The Santa Fe Trail boys golf team can call themselves state champions forever. It's a special victory and it's even more special for head coach Jayson Duncan and his son Tyler, who was one of the team's top golfers.
Digital music firm Believe books covered for IPO - bookrunner | Reuters
/cloudfront-us-east-2.images.arcpublishing.com/reuters/XTSEWP2JWRO7ZCFTD5ZQ6B2CII.jpg)
The logo of stock market operator Euronext is seen on Euronext headquarters at La Defense business and financial district in Courbevoie near Paris, France, November 21, 2019. REUTERS/Charles Platiau
Books for the initial public offering of French digital music firm Believe are fully covered, a bookrunner on the deal said on Friday.
The company is planning to list in Paris with a target valuation of 1.9 billion to 2.1 billion euros ($2.5 billion). Earlier this week it said it had reduced its public offering target to 300 million euros.
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Music From "WandaVision," "Falcon and Winter Soldier" Earns Emmys Buzz - Variety
Marvel’s move into streaming with this year’s “ WandaVision ” and “ The Falcon and the Winter Soldier ” conclusively demonstrated two things: that they didn’t skimp on the music budgets, and that theme songs could generate as much buzz as the unfolding mysteries surrounding the characters.
Yet it was the songs for “WandaVision” that attracted the most attention. All six, by Oscar-winning “Frozen” songwriters Robert Lopez and Kristen Anderson-Lopez, lampooned different eras of TV themes: “A Newlywed Couple” (a la “Dick Van Dyke Show”), “WandaVision!” (“Bewitched”), “We Got Something Cooking” (“The Partridge Family”), “Making It Up as We Go Along” (“Growing Pains”), “Let’s Keep It Going” (“Malcolm in the Middle”) and the insanely popular “Agatha All Along” (a “Munsters”-“Addams Family” takeoff).
“We are the rerun generation,” laughs Anderson-Lopez, recalling childhood afternoon viewings of “The Brady Bunch” and “Gilligan’s Island.” Adds Lopez: “We got a chance to go through our own sitcom boot camp and watch a zillion opening sequences, [then] writing a number of minute-long songs that had to have a little structure and set a tone.”
Beck helped define Wanda’s character with the help of a 75-piece Vienna orchestra. “She is not a television show hero,” he points out. “She’s a witch. She’s got a lot of darkness in her, and her struggle is a major theme in this series. I feel like this score is my most strongly thematic work to date.”
For “The Falcon and the Winter Soldier,” Jackman’s challenge was not only incorporating motifs he’d already written for the “Winter Soldier” and “Civil War” movies but also expanding the music of Sam Wilson (pictured), who eventually becomes the new Captain America.
“I wanted to represent all the facets of Sam Wilson in his musical DNA,” says Jackman. “Louisiana Hero,” Jackman’s theme for the Falcon, references his bayou roots with bluesy guitar and organ figures, “then halfway through the horns come in and the heroic feeling starts to take over,” he says. “Now we have an African American Captain America, so there should be no diminution in the classical heroism; by the same token, the music should also describe how he comes to the shield.” A 53-musician Berlin ensemble performed the score.
No comments:
Post a Comment