Welcome to the Music Business Worldwide weekly review—where we ensure you catch the five largest stories making headlines over the past week. The MBW review is supported Center, which assists over 500 best-selling artists worldwide in maximizing their income and minimizing their touring expenses.
Investment Trends in Music Rights
Anyone who believes that investing in music rights has plateaued should take a look at this week’s news regarding Pophouse Entertainment, a Swedish investment company linked to ABBA’s Björn Ulvaeus. They announced they’ve amassed more than 1.2 billion euros (1.3 billion US dollars) to acquire music catalogs and IP.
The company’s initial fundraising included over 1 billion euros, with an additional 200 million euros raised through specialized investment vehicles.
In related news, Universal Music Group revealed in their annual report that they’ve spent 266 million euros ($ 288 million) on catalogs in 2024, up from 178 million euros ($ 193 million) last year.
Moreover, Bertelmann’sBMG also reported its 2024 income this week, noting that the music company has surpassed $ 1 billion in annual revenue for the first time, although EBITDA has dipped by 37%.
In copyright-related news, rightsholders were taken aback by a report from an analytical center managed by former UK Prime Minister Tony Blair, advocating for a break in copyright protection in the UK to accommodate AI developers.
Lastly, MBW exclusively reported on the results of an investigation by online protection company Web Sheriff, regarding a long-standing “campaign of fraud, misinformation, and slander” concerning Morrissey, amidst Morrissey’s legal claim to stop the harassment.
1) Pophouse Entertainment’s ABBA Voyage closes its music purchase fund at $1.3 billion.
Pophouse Entertainment, a Swedish investment company associated with ABBA and Björn Ulvaeus, has raised 1.2 billion euros (1.3 billion US dollars) for its inaugural fund.
The Stockholm-based company announced on March 31 that Pophouse Fund I secured 1 billion euros (1.1 billion dollars), achieving its hard cap, which Pophouse claims positions it as “one of the largest first-time funds to be assembled in Europe.”
Additionally, Pophouse mentioned it raised an extra € 200 million (216 million dollars) via allocated investment vehicles, allowing investors to participate in selected transactions.
The fund aims to facilitate the purchase of music catalogs and IP…
2) 5 million songs and $288 million spent on catalogs: 8 insights from Universal Music Group’s 2024 annual report.
Universal Music Group‘s 2024 annual report highlights a strong commercial year, with UMG generating $12.88 billion in total revenue and an adjusted EBITDA of $2.88 billion.
In addition to the headline figures, the report is rich with insights requiring careful examination.
For instance, in 2024, catalog sales (defined as music older than three years) contributed 66% of UMG’s total recorded digital and physical income (i.e., revenue from record sales and streaming). In contrast, frontline releases (music less than three years old) represented 34%.
This marks a shift from 2023 when catalog sales comprised 62% of UMG’s recorded income…
This is / Shutterstock
3) Tony Blair’s Institute just published a report suggesting a break in copyright law in the UK. Here are the highlights…
The institute led by former UK Prime Minister Tony Blair released a report containing proposals that could significantly influence how the UK addresses music copyright.
The report, titled Copyright Reboot: How the UK Can Be a World Leader in Art and Artificial Intelligence, suggests a “progressive solution” that ostensibly prioritizes AI development over established Creator rights.
The authors of the report openly admit their bias towards large tech companies and AI developers, asserting that “the progressive decision is not about clinging to copyright laws designed for a past era, but enabling them to evolve with technological progress.”
Recommendations in the report consistently favor AI developers’ interests, stating that “there are better ways to support the creative industry in the digital age than restrictive copyright laws for training AI models…”
4) BMG surpassed $1 billion in revenue for 2024 and spent $263 million.
BMG generated 963 million euros ($1.04 billion) in annual revenue in 2024, reflecting a 6.4% increase year-over-year or 8.1% growth organically.
This data aligns with the latest set of annual financial results from Bertelmann released on March 31.
Adjusted operational EBITDA for BMG hit a record high of 265 million euros ($287 million), a 37% increase year-over-year from the previous figure of 194 million euros ($210 million).
Bertelsmann attributed the significant profit increase in BMG last year to the success of digital direct sales, strategic focus on core assets, and substantial investments…
Photo: Christian Bertrand/Shutterstock
5) Exclusive: Morrissey initiates a lawsuit against alleged online fraud amid investigation revealing “decades-long campaign of defamation.”
Web Sheriff, a global online protection firm that has previously served clients like Prince, Bob Dylan, and Beyoncé, completed an extensive investigation that it describes as a “campaign of fraud, disinformation, and slander targeting Morrissey.
In a statement provided to MBW, Web Sheriff claims to have identified “the person representing interests” behind the alleged online harassment campaign and anticipates uncovering additional perpetrators “both in the UK and Europe, as well as in the United States.”
The company asserts that it has gathered evidence of attempts to falsely connect the artist with damaging narratives aimed at distorting his character.
Web Sheriff adds: “The apparent goal of this fraud is to support and promote racist and far-right ideologies by falsely associating a prominent artist with their agenda…”
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Lucas focuses on the interaction between music and society. He specializes in how music influences and reflects cultures, analyzing the role of sound in social, political, and cultural events around the world.
