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Philip Soeffker - Minus Multimedia GmbH
Leftwing & Kody join us at Label Worx HQ to talk about how they started their Lost Records imprint, how they met and more. Some inspirational stuff right here!
Balearic are back with their fourth label compilation. The perfect soundtrack for summer, brim-full of beach-ready tunes that truly reflect Ibiza's chilled musical spirit!
Javier Labarca takes to one of the worlds leading Minimal labels, Bla Bla, with a beautiful 2 track EP. Grab the release now as a Beatport exclusive.
A hand picked selection of recent releases from our ever increasing catalogue
Lloyd Starr - President of Beatport
News from the industry, record labels, artists and Label Worx
It's approaching that time of the month again and the August edition of The Green Room will be sent on the first Thursday of the month.
Warner Music Group has sold all of its shares in Spotify for more than half a billion dollars. Warner is allocating 25% of this money to its artists, but, unlike Sony, it's not ignoring unrecouped balances when it does so - meaning that a significant proportion of this cash will actually remain at WMG. Warner today (August 7) confirmed it was no longer a stakeholder in Spotify, which floated on the New York Stock Exchange on April 3. WMG CEO Steve Cooper (pictured) told investors on an earnings call that Warner realized $504m in proceeds from selling 100% of its Spotify stock in the quarter ending June 2018. 'I'm pleased to say that, in connection with the sale of our Spotify equity, an estimated $126 million will be credited to artist accounts on their June 30 royalty statements which are issued around the world in August and September,' said Cooper. That $126m equates to exactly a quarter of the $504m. MBW understands the $126m includes payments to Warner/ADA-distributed labels, but these make up a small proportion of the money. Warner, as previously announced, is only sharing Spotify proceeds with its partner labels when obligated to do so by individual contracts. MBW revealed earlier this year how Sony Music will be paying its artists and partner labels from its Spotify stock proceeds. In a surprise move, the Rob Stringer-led major will ignore unrecouped balances when it pays its acts a chunk of its windfall - via checks that are scheduled to arrive with performers by the end of August. Unlike Warner, Sony will also be sharing these Spotify share profits will all of its eligible partner labels. According to MBW's analysis, Warner was granted a 4% equity stake in Spotify as part of licensing deals first signed in 2008. Due to dilution of stock from additional investors, we estimate, Warner ended up with approximately 2% of Spotify by the time the company floated in April. Warner Music Group's total revenues grew 1.9% year-on-year at constant currency in its fiscal Q3 (calendar Q2), with a quarterly haul of $958m.Music Business Worldwide
Dirtybird has revealed the line-up for its inaugural Chicago-based event, The Birdhouse Festival. The festival will combine classic American carnival nostalgia with Dirtybird's carefree and jumping sound system stylings for what is being described as 'a cotton-candy fueled outdoor ride.' Dirtybird regulars will be taking over the decks for this imaginative event, including Will Clarke, J. Phlip - who will join Chicago legend Gene Farris for a special b2b session - and Christian Martin who will join forces with his brother in arms, Ardalan. Chicago locals ZDS, Fancy Fux and Teknicoz will also join the festivities and attendees will be treated to a surprise set from another local Chicago legend as well. Dirtybird leader Claude VonStroke will headline the festival and plans to bring his 'juke and footwork inspired house vibes back to the midwest' following his memorable headline set at Detroit's Movement Festival in May. The event will also feature games, prizes, classic carnival grub, and of course, big electronic tunes that are bound to send off the summer with a bang.
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