This week, a US federal jury found Live Nation and Ticketmaster illegally monopolized the US ticketing and amphitheater markets, handing a landmark antitrust victory to a coalition of 33 states and the District of Columbia.
Meanwhile, Warner Music Group forged a partnership with – and made a minority investment in – TuStreams, a distribution platform focused on Música Mexicana and the wider Latin music scene.
Elsewhere, Max Lousada and Julie Greenwald took the wraps off 26.2, their new venture, launched in a strategic partnership with Sony Music.
Also this week, K-pop’s ‘Big Four’ — HYBE, JYP Entertainment, SM Entertainment and YG Entertainment — moved to establish a joint venture that will launch a global music festival, dubbed Fanomenon, intended to rival Coachella.
Here are some of the biggest headlines from the past few days…
1. LIVE NATION AND TICKETMASTER LOSE ANTITRUST TRIAL: WHAT HAPPENED, WHAT IT MEANS, AND WHAT COMES NEXT
A federal jury on Wednesday (April 15) found that Live Nation Entertainment and its subsidiary Ticketmaster illegally monopolized the US ticketing and amphitheater markets.
The result handed a victory to the coalition of 33 states and the District of Columbia that pressed the landmark antitrust case to trial after the concert giant reached a settlement with the US Department of Justice.
The jury found in favor of the states on every claim after a five-week trial in Manhattan federal court, and determined that consumers had been overcharged on tickets.
The verdict now sets the stage for a remedy phase that could result in significant changes to how the live entertainment industry operates.
Here’s what happened, how we got here, and what comes next… (MBW)
2. WARNER MAKES STRATEGIC INVESTMENT IN TUSTREAMS – A DISTRIBUTION PLATFORM FOCUSED ON LATIN MUSIC
Warner Music Group has entered into what it calls a “landmark” partnership with TuStreams, a distribution platform focused on Latin music.
WMG describes TuStreams as “a leading independent force in the fast-growing Música Mexicana space”.
Warner has also made a minority investment in the company.
As part of the agreement, Warner Music Group will serve as the global distribution partner for TuStreams’ full catalog and future releases. According to a press release issued on Monday (April 13), the partnership “brings together TuStreams’ entrepreneurial vision with WMG’s global infrastructure, unlocking new levels of scale, visibility, and opportunity across international markets”… (MBW)
3. MAX LOUSADA AND JULIE GREENWALD ARE IN BUSINESS. WELCOME TO 26.2 — IN PARTNERSHIP WITH SONY MUSIC
Max Lousada has ordered a Campari and soda; Julie Greenwald, a Paloma. Colorful drinks for colorful personalities — fizzing with energy over what’s coming next.
What’s coming next… is precisely why MBW is here, chewing on a chopped salad at Soho Mews House, West London, and listening to Lousada and Greenwald lay out the blueprint for 26.2 – their new venture, launched in a strategic partnership with Sony Music.
26.2 is a record label – and proudly so. Not a distributor, not a joint venture, and not a services platform… (MBW)
4. AS K-POP CONCERT REVENUES RISE, HYBE, SM ENTERTAINMENT, JYP, AND YG PLOT MUSIC FESTIVAL JOINT VENTURE
K-pop giants HYBE, JYP Entertainment, SM Entertainment, and YG Entertainment are preparing to establish a joint venture to launch a ‘global’ music festival.
According to an exclusive report from South Korean outlet Business Post on Thursday (April 16), the four companies, which collectively represent K-pop’s so-called ‘Big Four’, recently submitted a business combination report to South Korea’s Fair Trade Commission (FTC) as part of the JV formation process.
The filing is a regulatory requirement given that HYBE qualifies as a large corporate group with assets above KRW 5 trillion (approximately $3.4 billion), and SM Entertainment is an affiliate of the Kakao conglomerate.
An FTC official told Business Post that the regulator could not confirm individual filings, but noted that review timelines vary depending on the specifics of each case.
The venture comes as live music becomes an increasingly important revenue stream for K-pop’s biggest companies… (MBW)
5. BTS LABEL BIGHIT MUSIC ASKS US COURT TO UNMASK X USER WHO LEAKED ‘ARIRANG’ BEFORE RELEASE
HYBE’s BigHit Music has asked a federal judge in California to authorize a subpoena on X Corp. to reveal the identity of an anonymous user who allegedly leaked BTS’s latest album ARIRANG before its March 20 release.
BigHit is the South Korean label behind BTS and a wholly owned subsidiary of entertainment giant HYBE.
The label filed an ex parte application on April 9 in the US District Court for the Northern District of California, bringing the petition under 28 U.S.C. § 1782, a statute that allows a foreign litigant to extract evidence from a US entity if the evidence is for use in a foreign proceeding.
BTS broke records across major streaming platforms when the K-pop act dropped ARIRANG. The record pulled in over 110 million streams on Spotify in its first 24 hours, breaking the record for the most-streamed K-pop album in Spotify history and the most-streamed album in a single day this year, Spotify announced on social media… (MBW)
Partner message: MBW’s Weekly Round-up is supported by BMI, the global leader in performing rights management, dedicated to supporting songwriters, composers and publishers and championing the value of music. Find out more about BMI here. Music Business Worldwide
Welcome to Music Business Worldwide’s Weekly Round-up, a comprehensive summary of the five most significant stories from the past week in the music industry. This round-up is supported by BMI, a leader in performing rights management, committed to supporting songwriters, composers, and publishers.
1. Landmark Antitrust Victory for Live Nation and Ticketmaster Case
A major event in the music business occurred when a US federal jury found Live Nation Entertainment and its subsidiary Ticketmaster guilty of illegally monopolizing the US ticketing and amphitheater markets. This verdict represents a significant victory for a coalition of 33 states and the District of Columbia, which pursued the antitrust case after Live Nation previously reached a settlement with the US Department of Justice. The jury’s decision, following a five-week trial in Manhattan, confirmed that consumers had been overcharged for tickets. This finding paves the way for a remedy phase that could lead to substantial changes in how the live entertainment industry operates, marking a pivotal moment for competition in the sector.
2. Warner Music Group Partners with TuStreams
Warner Music Group (WMG) has announced a significant partnership with TuStreams, a distribution platform dedicated to Música Mexicana and the broader Latin music scene. WMG describes this collaboration as a « landmark » initiative, noting TuStreams as a prominent independent player in the fast-growing Latin music market. As part of this partnership, Warner will serve as the global distribution partner for TuStreams’ entire catalog and future releases. The collaboration aims to combine TuStreams’ entrepreneurial vision with WMG’s extensive global infrastructure, unlocking new opportunities for growth and visibility in international markets.
3. Launch of 26.2, a New Record Label by Max Lousada and Julie Greenwald
Max Lousada and Julie Greenwald have officially launched 26.2, a new record label in partnership with Sony Music. This venture is designed to operate as a traditional record label rather than just a distributor or service platform. During a casual meeting in West London, Lousada and Greenwald discussed their vision for 26.2, which they emphasize is centered around the music and artists they will represent. This new label aspires to bring fresh energy and innovative approaches to the music industry, highlighting the pair’s dynamic personalities and ambitions in the evolving music landscape.
4. K-Pop Giants Form Joint Venture for Global Music Festival
In a move that reflects the growing importance of live music revenues, K-pop’s leading labels—HYBE, JYP Entertainment, SM Entertainment, and YG Entertainment—are collaborating to create a joint venture that will launch a global music festival named Fanomenon. This initiative has gained traction as these companies submitted a business combination report to South Korea’s Fair Trade Commission (FTC), a necessary step for regulatory approval. The proposed festival aims to compete with established events like Coachella, underscoring the K-pop industry’s ambition to expand its global footprint and capitalize on the lucrative festival market.
5. BigHit Music Seeks to Unmask User Who Leaked BTS Album
BigHit Music, the label behind the globally popular K-pop group BTS, has taken legal action in the United States to identify the anonymous user who allegedly leaked the group’s latest album, « ARIRANG, » prior to its official release on March 20. The label filed a request in California’s federal court seeking a subpoena to unmask the user on X Corp. This legal maneuver is part of a broader strategy to protect their intellectual property and maintain the integrity of their releases. BTS’s album has already set records, including over 110 million streams on Spotify within the first 24 hours, marking it as one of the most successful K-pop albums in history.
Conclusion
This week’s round-up highlights significant developments in the music industry, including landmark legal rulings, strategic partnerships, and innovative new ventures. From the antitrust case against Live Nation and Ticketmaster to the exciting new initiatives from Warner Music Group and K-pop’s leading labels, these stories reflect the dynamic and rapidly evolving landscape of the music business. As artists, labels, and platforms adapt to changing market conditions, these developments will likely shape the future of music for years to come.
