5 things you need to know in the entertainment business: Sony and Hard Rock partner for “Rock Star Suite” and more

Concord Music acquiring the Savoy Label Group

Concord Music has begun the process of acquiring the Savoy Label Group, which includes the 429 Records label and more than 3,000 master recordings from some of the biggest names in music history. Concord Music has also agreed to a multi-year consulting and production agreement with Savoy’s former owner, which features an option for new recording projects. Concord’s executives are hopeful about the acquisition, excited about its potential to help the company expand further into a variety of different genres.

Carlin America to be sold to Round Hill Music

Independent music publisher Carlin America Incorporated is set to be sold to Round Hill Music in a deal worth nearly $250 million. The deal was first reported by Bloomberg and is expected to be finalized within the next month. Round Hill Music is a US-based equity firm focused on purchasing music copyright assets. Carlin America’s music catalog contains more than 100,000 songs, including songs by musical legends such as Elvis Presley, AC/DC, and Billie Holiday.

Hard Rock International and Sony Music partnering for new suite offerings

Sony Music and Hard Rock International are partnering to create a new, reimagined suite offering at various Hard Rock Hotel & Casino properties worldwide. As compared to the traditional presidential suite offering, the new “Rock Star Suite” will feature vibrant life-sized content, mixed media and memorabilia featuring the world’s most iconic music artists. Sony will also be bringing original content, experiential events, and innovative music integration to the properties. The first properties to feature the Rock Star Suites are Hard Rock Los Cabos, Hard Rock Desaru Coast, Hard Rock Guadalajara and Hard Rock New York.

Sony Music and Hard Rock International have entered a deal in offering new suite design in Hard Rock hotels and casinos nationwide. (Source)

Music startup HAAWK acquires Dart Music

Los Angeles-based music startup HAAWK has secured a $2.5 million round of funding and has also begun the process of acquiring assets from Dart Music Incorporated, the classical music digital aggregator that was forced to file for bankruptcy in February. HAAWK is a rights management, copyright enforcement, and content monetization firm that was created with the goal of “bringing transparency to the music and media ecosystem while increasing earnings for and bringing new opportunities to our growing client base.” The assets acquired from Dart Music will be used to bolster HAAWK’s distribution and technology services.

Ed Sheeran breaks Spotify record

Ed Sheeran’s song “Shape of You” is now Spotify’s most-streamed track of all time, having overtaken “One Dance” by Drake. According to the streaming company, the song had 1.32 billion plays as of September 22. Six months after the release of his latest album, Divide, Sheeran is currently the most streamed artist in the world on the platform, averaging over 40 million monthly listeners. He is also the second most-streamed artist of all-time on the service, with over 10 billion plays to date.

(Featured image by Eva Rinaldi via Wikimedia Commons. CC BY-SA 2.0)

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DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.