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...TikTok has failed in its attempts to restart negotiations with Universal Music, according to people familiar with the matter, leaving two of the most powerful companies in entertainment deadlocked over money...
...Further reading— Why is it so hard to work out how much money Taylor Swift is making? (FTAV)...
...Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio....
...“The Ballad of Mack the Knife” originally appeared in which “play with music”? Which newspaper did the former chancellor George Osborne edit between 2017 and 2020?...
...The song’s a by-the-numbers orchestral piece that starts overblown, accelerates bombastically into pomposity and ends before the coda, presumably because the money ran out....
...It also forward funds scores, giving composers the money to create their music....
...“People have got more money now and sometimes a wedding can be a four-day event,” says Iqbal....
...Could Lowe, a pioneer of electronic music alongside Giorgio Moroder and New Order, make the argument for AI-generated music versus proper music?...
...Sound design is by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio....
...“I put my money where my mouth is and put hundreds of millions of dollars back into the artist’s hands. We can make even more money because of our expertise....
...Over the past year, global music companies have been sending executives to Nashville, the centre of country music since the 1920s, where they are splashing out money on promising talent....
...[MUSIC PLAYING] Money managers are planning to shut down or convert more than $200bn worth of US money market funds....
...With this arrangement, Universal gets to buy into music catalogues without spending too much of its own money, or inflating its balance sheet. Chord will take on any debt to do deals....
...In 2012, his company Vince Power Music Group went into liquidation, reportedly losing him £9mn of his own money. As ever, he clambered back on to his feet....
...Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio. Read a transcript of this episode on FT.com...
...[MUSIC PLAYING]...
...But watching tech companies swallow the music industry has given them a valuable perspective....
...Scammers will typically request that victims send money via a bank transfer. This makes it harder, in the absence of a chargeback mechanism, for them to retrieve their money....
...The world’s biggest institutional investors have gone into business with music executives, with mixed results. But the way that money flows in the music business remains opaque....
...Meanwhile, anxiety over artificial intelligence has swept the music business in recent months, while two industry pillars, Universal and TikTok, are in an all-out brawl over money....
...“We’ve just arrived at a point . . . where three new bands on a Tuesday night in your average music venue, you’re haemorrhaging money.”...
...There is much debate about whether sector composition, growth outlook, income-focused investors or waning domestic pension money is the root cause....
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