Recognition Music Group, UK Recorded Music Breaks £1 billion Barrier and UBEM Antitrust Concerns
How The Music Business Works - Issue #3
March 13, 2025
Welcome to How the Music Business Works, your go-to source for the latest trends and developments shaping the music industry! This week’s edition is brimming with fresh updates, from major rebrands and market milestones to groundbreaking tech and legal battles.
Big changes are underway as Blackstone consolidates its music investments under the new Recognition Music Group, uniting a powerhouse portfolio of over 45,000 songs from legends like Fleetwood Mac and Justin Bieber. Meanwhile, the UK recorded music market celebrates a decade of growth, with streaming revenue smashing the £1 billion barrier for the first time.
On the regulatory front, Brazil’s UBEM faces antitrust scrutiny over mechanical rights licensing practices, while Audoo wows the industry with groundbreaking song-tracking technology that could redefine music rights management.
And for aspiring artists, BMI’s Spark program is leveling up support with tools, education, and resources to fuel creative careers.
Stay tuned for more insights on these stories and what they mean for the future of music!
Three Hipgnosis Companies Rebrand as Recognition Music Group
Blackstone has consolidated its music investment entities—Hipgnosis Songs Fund, Hipgnosis Songs Assets, and Hipgnosis Song Management—under the new brand Recognition Music Group. This unified company manages a portfolio exceeding 45,000 songs and recordings across 145 catalogs, featuring works from artists like Fleetwood Mac, Neil Young, and Justin Bieber. The rebranding signifies a strategic move to enhance the legacy and cultural significance of its music assets.
UK Recorded Music Market Hits “Decade of Continuous Growth” as Streaming Revenue Breaks £1 billion Barrier
The UK’s recorded music market achieved a significant milestone in 2024, marking a decade of continuous growth with total revenues increasing by 4.8% to £1.49 billion. This growth was primarily driven by streaming services, which, for the first time, generated over £1 billion in revenue—a 5.7% increase from the previous year—accounting for 68.1% of overall recorded music income. Paid subscriptions remained the backbone of this sector, contributing more than 86% of the streaming market’s revenue, totaling £875.5 million.
Brazilian Music Publisher Trade Body Must Respond to Antitrust Concerns
Brazil’s competition regulator, CADE, is investigating the Brazilian Union of Music Publishers (UBEM) for potential anticompetitive practices in mechanical rights licensing. Prompted by a complaint from broadcaster SBT, the investigation examines allegations that UBEM set minimum fees for synchronization rights, imposed standardized contract terms on digital platforms, and restricted publishers from negotiating licenses independently. UBEM denies these claims, asserting that its licensing activities are lawful and that publishers maintain full autonomy in their negotiations. The outcome of this investigation could significantly impact mechanical rights licensing in Brazil.
As PRO Inquiries Continue In Washington, Audoo Shares Some Shocking Song-Tracking Data from Denver
Audoo, a London-based company specializing in audio recognition technology, has demonstrated the capability to accurately track billions of song plays with near 100% precision. At the Denver Pro conference, Audoo showcased its technology’s effectiveness in monitoring song usage across various platforms, highlighting its potential to revolutionize music tracking and rights management.
BMI’s Spark Program Offers Education and Tools to Musicians
BMI has introduced ‘Spark,’ a new program offering its members discounts on music creation tools, career resources, educational content, and wellbeing services. Partners include BandLab, Cosynd, Disco for Artists, Output, and Landr, with Berklee Online contributing to educational aspects. Additionally, BMI has removed its application fee for new songwriters and composers joining its membership.