Striking a chord: How music rights firms serenaded the stock market January 23, 2021 Anyone who has the misfortune to monitor news updates on the London Stock Exchange will know the name Hipgnosis. Less than a month into 2021, the gauchely-named company has already issued nine wordy announcements. They are not, however, the usual trading updates or dry regulatory disclosures. Instead, Hipgnosis has been on a relentless acquisition spree [...]
Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows January 22, 2021 Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows
No Time to Die: James Bond film release pushed back for third time January 22, 2021 The release of the latest James Bond film has been pushed back for a third time as a result of the coronavirus pandemic. No Time to Die had already been pushed back twice, and will now not hit screens until 8 October, the film’s producers announced today. The Bond blockbuster was originally due to be [...]
Screenshot: Is it time for a music streaming reshuffle? January 22, 2021 This week **Media Moment of the Week: Elon Musk’s personal keyboard warrior **Music streaming royalties strike a bum note **The BBC screw turns again Media Moment of the Week Elon Musk is no stranger to social media spats. His indiscretions on Twitter have moved stock markets, led to a highly-publicised defamation suit and landed him [...]
BBC equal pay cases cost taxpayer £1m in legal fees January 22, 2021 MPs have hit out at the BBC over revelations the broadcaster spent more than £1m of taxpayer money on legal fees fighting equal pay and race discrimination cases against its own staff. In a letter to the Digital, Culture, Media and Sport committee, published today, the BBC said it had forked out £1.1m between July [...]
Glastonbury Festival cancelled for second year running due to coronavirus January 21, 2021 Glastonbury has been cancelled for the second year running due to the coronavirus pandemic, organisers confirmed today. The iconic music festival was scrapped last year due to the outbreak of Covid-19, with tickets automatically rolled over to 2021. But this year’s event will also not go ahead due to continued restrictions in place to halt [...]
Hipgnosis adds Metallica and Michael Buble rights as it launches share sale January 21, 2021 Music royalties fund Hipgnosis has acquired the producer rights to a string of tracks by Metallica and Michael Buble as it announced a new share issue to help fund its non-stop buying spree. The London-listed firm has acquired 100 per cent of a catalogue of songs made by Canadian record producer and mixer Bob Rock. [...]
Revenue at Daily Mail publisher plunges as print circulation drops January 21, 2021 Underlying revenue at Daily Mail publisher Daily Mail & General Trust (DMGT) fell 15 per cent during the last quarter, as circulation of consumer print titles fell seven per cent. DMGT reported group revenue stood at £304m in the three months to 31 December 2020, down an underlying 15 per cent. The publisher, which also [...]
Hipgnosis boss: Music industry at risk from ‘gluttonous’ record labels January 21, 2021 The music industry is under threat from “gluttonous” record labels taking royalties away from artists and songwriters, the boss of music investment firm Hipgnosis has said. Merck Mercuriadis accused the major record companies of “trying to take everything for themselves”, warning that some artists were unable to survive off royalty income as a result. “The [...]
Teacher’s pet: Pearson shares lead the FTSE gainers after return to sales growth January 20, 2021 Teacher's pet: Pearson shares lead the FTSE gainers after return to sales growth