New year, new controversies. We preview the headlines of the biggest stories in the music industry in 2020
— who the rapper says is buying the fake streams and framing him — but the real source has not been confirmed. Though it concerns an entirely different kind of streaming fraud, the situation brings forth déjà vu to January 2019 when music fans found unreleased SZA and Beyoncé tracks uploaded under artist accounts named “Sister Solana” and “Queen Carter.
last summer to combat fake streams, they’ll have to confront the matter in earnest if this level of publicized malfeasance continues. —On December 31, a consortium led by Tencent Holdings Ltd — one of China’s biggest tech/media conglomerates, with a $480 billion market cap — announced that it had signed a shareholders’ agreement to— the world’s largest music rights-holder. The $3 billion deal values Universal at $33.4 billion, some 30X the EBITDA profit figure UMG recorded in 2018.
Check this for a stat that speaks of music’s escalating worth: WMG was wholly acquired by Len Blavatnik for $3.3 billion in 2011 — a smaller number than that Tencent just agreed to pay for a mere 10% of Universal. WMG judges its annual financial performance in terms of OIBDA , a similar measure to EBITDA. In WMG’s 2019 fiscal year, its OIBDA came out at $625 million. With a 30X multiple applied, this would result in a valuation of $18.8 billion.
Who might such a hypothetical minority bidder be? Don’t count out Tencent, which already owns stakes elsewhere in music . And in the gaming world, Tencent bought a 40% holding in Epic Games, owner of Fortnite, for a reported $330 million in 2012; this, despite also owning a 93% state in League Of Legends developer Riot Games. Already in 2020, Tencent has acquired a position in another games developer, Japan’s Platinum Games for an undisclosed fee.
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