ABBA Voyage – Music Enterprise Analysis

ABBA Voyage – Music Enterprise Analysis


Whereas Hatsune Miku‘s voice was nonetheless generated by a vocal synthesiser, the voices of right now’s music avatars is produced by synthetic intelligence. One significantly profitable mission is “ABBA Voyage”. Utilizing refined know-how, avatars of the 4 ABBA members Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad had been delivered to life on stage in London, creating a brand new viewers attraction that shall be examined in additional element partially 3 of the collection on “Digital Music Worlds”.

Digital Music Worlds – Half 3: ABBA Voyage

The event and implementation of ABBA Voyage

An early instance of AI generated music avatars is arguably Sweden’s most profitable music export of all time: ABBA. After Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad made the far-reaching resolution in December 1982 to cease performing collectively, there have been repeated rumours of a reunion. Most just lately, these rumours had been fuelled by the large success of the primary “Mamma Mia!” film in 2008,[1] which was primarily based on the musical of the identical title that premiered in London’s West Finish in 1999.[2] ABBA mastermind Björn Ulvaeus even felt compelled to emphasize in an interview with the Sunday Telegraph: “We’ll by no means seem on stage once more. There may be merely no motivation to re-group. Cash isn’t an element and we want folks to recollect us as we had been – younger, exuberant, filled with power and ambition.”[3] Not even a suggestion of US$1 billion from an American-British monetary consortium for a joint tour, made to the pop group in 2000, may persuade the celebs to face on the live performance stage collectively once more.[4]

Though this perspective wouldn’t change later, there was no point out of a digital reunion on the time. Nevertheless, in an interview with Billboard journal on the finish of October 2016, Simon Fuller, the creator of the TV expertise present “American Idol” and CEO of 19 Leisure, introduced his plan to resurrect ABBA in digital actuality utilizing the most recent applied sciences and synthetic intelligence. He satisfied the 4 ABBA stars to take part and invited them to play an lively position: “We’re exploring a brand new technological world, with digital actuality and synthetic intelligence on the forefront, that can enable us to create new types of leisure and content material we couldn’t have beforehand imagined.”[5]

Step one on this course was to report a brand new album. Subsequently, ABBA reunited in a Stockholm sound studio in spring 2018, the place they recorded two new songs: ‘I Nonetheless Have Religion in You’ and ‘Don’t Shut Me Down’. Nevertheless, in an interview with the BBC, Björn Ulvaeus was quite obscure in regards to the digital ABBA mission. The one data he revealed was that work was underway on creating avatars, or ‘ABBA-tars’, that will tour instead of the human ABBA members.[6]

The mission gained momentum when British music video director Baillie Walsh joined the event workforce. In an in-depth interview for “Esquire”, he recounted how he was invited by the 2 govt producers, Svana Gisla and Ludvig Andersson, Benny Andersson’s son, to proceed growing the digital ABBA mission from 2019 onwards.[7] Initially, the concept was to convey ABBA onto the stage as holograms. Nevertheless, because the know-how was thought-about outdated and unsatisfactory, Walsh sat down with representatives from Industrial Gentle & Magic (ILM), the corporate based by Star Wars creator George Lucas, to discover the technical prospects of AI-generated ABBA avatars performing life-size on stage. The answer was a 10-metre-high LED wall, the place the inside lighting and stage lighting had been coordinated with the assistance of quite a few cameras to create the phantasm of a three-dimensional presence of the projected avatars.[8] Nevertheless, to attain this, the avatars first needed to be created utilizing movement seize know-how much like that used for Hatsune Miku. Within the winter of 2020, the 4 ABBA stars subsequently met at a specialist studio in Stockholm, the place they slipped into fits geared up with small spherical markers at particular factors on the physique. These fits had been used to seize the celebs’ actions from totally different angles utilizing 160 cameras.[9] It took 5 lengthy and intense weeks to report the dance sequences for every tune with ABBA’s 4 members and quite a few youthful physique doubles underneath the course of star choreographer Wayne McGregor utilizing movement seize.[10] The faces of Agnetha, Björn, Benny and Anni-Frid had been additionally captured intimately and rejuvenated utilizing AI. This ensured that the 4 ABBA members regarded convincingly actual on stage.[11]

The consequence was spectacular when, on 26 Could 2022, the premiere passed off on the ABBA Enviornment, which had been erected near Queen Elizabeth Olympic Park in London for 3,000 spectators, with distinguished visitors together with the Swedish royal couple. However it wasn’t simply the viewers who raved in regards to the convincingly practical avatar present,[12] which, with a finances of US$175 million, was the most costly stage manufacturing so far.[13]

Nevertheless, the investments have paid off. By 2022, 675,600 tickets had already been bought for “ABBA Voyage,” producing a income of GBP 97.1 million and a pre-tax revenue of practically GBP 3 million for Aniara Ltd., the corporate accountable for the digital present. In 2023, the variety of tickets bought rose to 1.1 million, leading to a turnover of GBP 103.7 million and a pre-tax revenue of GBP 6.1 million.[14] In December 2024, it was introduced that “ABBA Voyage” had bought 3 million tickets since its premiere and generated a gross worth added of GBP 775 million for the London economic system in its first two years.[15] Subsequently, it’s not shocking that these accountable sought a approach to make sure that “ABBA Voyage” would keep in London past April 2026, when the sector’s allow expires and it is because of make approach for a residential development mission.[16] The live performance corridor resembles a UFO and could be utterly dismantled and rebuilt elsewhere as a result of it was at all times meant for a global tour as a part of the “ABBA Voyage” mission.[17]

ABBA-tare as Position Fashions for Different Music Avatars: Avicii and KISS

Nevertheless, “ABBA Voyage” may quickly be increasing. Pophouse Leisure, the occasion and music rights firm co-founded by Björn Ulvaeus in 2014 and an investor in “ABBA Voyage”, has been shopping for up music catalogues from quite a few artists since 2022. For instance, in March 2022, Pophouse introduced that it had bought the grasp and publishing rights of the Swedish EDM group Swedish Home Mafia.[18] Nevertheless, Pophouse prompted a stir on the finish of September 2022 when it acquired 75 per cent of the grasp and publishing rights of the Swedish DJ Avicii, who died younger, from his heirs, the Bergling household.[19] It appeared probably that Avicii may very well be “resurrected” as a digital musician sooner or later. This assumption was confirmed in April 2024 when Pophouse acquired not solely the tune catalogue and related artist royalties of the glam rock band KISS, but additionally their NIL rights (title, picture, likeness), together with the rights to their distinctive face paint, for US $300 million. Per Sundin, now CEO of Pophouse and former head of Common Sweden, defined: “Our partnership will fuse the wealthy historical past and iconic standing of KISS with cutting-edge know-how, permitting followers – now and sooner or later – to expertise the band like by no means earlier than.”[20] This additionally contains the creation of avatars of the musicians modelled on the ABBA-tare, which may then go on tour as a digital band, as evidenced by an settlement that KISS concluded 4 months earlier than the rights take care of Pophouse.[21] KISS already has expertise with performances by their avatars. On the finish of their live performance at Madison Sq. Backyard in New York Metropolis, the enduring American band had their avatars carry out “God Gave Rock And Roll To You” as an encore, as evidenced by a promotional clip on YouTube.[22] We’re subsequently at first of a improvement whereby dwelling and deceased artists will take to the live performance stage within the type of AI-generated avatars. This may have vital financial implications. Avatars of superstars may carry out elsewhere on the similar time, relieving their human position fashions of the necessity to go on tour. This may additional focus the reside music market, which is already dominated by the famous person impact, making it tougher for youthful musicians to construct a profession. Moreover, music rights, significantly persona rights (NIL rights), will proceed to extend in worth as they’re


Endnotes

[1] Wikipedia, “Mamma Mia! (movie)”, model of August 22, 2025, accessed: 2025-08-22.

[2] Wikipedia, “Mamma Mia! (musical)”, model of August 24, 2025, accessed: 2025-08-22.

[3] Cited in The Guardian, “Abba reunion: Don’t maintain your breath”, July 7, 2008, accessed: 2025-08-26.

[4] Enterprise Insider, “Why ABBA Turned Down $1 Billion To Reunite In 2000”, July 9, 2014, accessed: 2025-08-26.

[5] Billboard, “‘Digital’ ABBA Coming Quickly By way of Partnership with Simon Fuller and Common Music”, October 26, 2016, accessed: 2025-08-26.

[6] BBC Information, “Abba announce first new music since 1982”, April 27, 2018, accessed: 2025-08-27.

[7] Esquire, “Tremendous Trouper”, July 21, 2022, accessed: 2025-08-27.

[8] An in depth description of the technical implementation of the digital ABBA mission could be discovered within the journal Ingenia, “How ABBA Voyage was made”, September 2022, accessed: 2025-08-27.

[9] Ibid.

[10] NME, “ABBA Voyage’s creators inform us how they made the present, and what’s subsequent”, Could 28, 2022, accessed: 2025-08-27.

[11] Ingenia, “How ABBA Voyage was made”, September 2022, accessed: 2025-08-27.

[12] The Guardian, “Abba Voyage assessment: jaw-dropping avatar act that’s destined to be copied”, Could 26, 2022, accessed: 2025-08-27.

[13] Musically, “Bloomberg breaks down numbers behind ABBA Voyage’s success”, September 5, 2023, accessed: 2025-08-27.

[14] Music Enterprise Worldwide, “ABBA Voyage generated $129m in 2023, as digital live performance collection attracts 1.1m guests”, October 1, 2024, accessed: 2025-08-27.

[15] ITV Information, “Abba Voyage to promote its 3,000,000th ticket this month after London present introduced £1.4bn economic system enhance”, December 9, 2024, accessed: 2025-08-27.

[16] Metro, “May Abba Voyage be leaving London for good?”, April 2, 2024, accessed: 2025-08-27.

[17] Ingenia, “How ABBA Voyage was made”, September 2022, accessed: 2025-08-27.

[18] Music Enterprise Worldwide, “Swedish Home Mafia promote grasp recordings and publishing catalogs to Pophouse”, March 29, 2022, accessed: 2025-08-27.

[19] Music Enterprise Worldwide, “Pophouse Leisure buys 75% of Avicii grasp recordings and publishing”, September 28, 2022, accessed: 2025-08-27.

[20] Music Enterprise Worldwide, “KISS sells tune catalog, title and IP to Pophouse, firm behind ABBA Voyage, in $300m deal”, April 4, 2024, accessed: 2025-08-27.

[21] Music Enterprise Worldwide, “KISS to stage avatar present in partnership with Pophouse Leisure, following the success of ABBA Voyage in London”, December 4, 2023, accessed: 2025-08-27.

[22] YouTube, “KISS – A New Period Begins”, December 3, 2023, accessed: 2025-08-27.

New audio podcasts from Trampled by Turtles and Mary Chapin Carpenter

New audio podcasts from Trampled by Turtles and Mary Chapin Carpenter

Apple Podcasts, Spσtify, Amazon Podcasts, αnd other programs are available to subscribe ⱱia.

This episode of Kyle Meredith With features behind conversations with Mary Chapin Carpenter and Erik Berry from this year’s Whiskey &amp, Beyond Festival. It’s α two-part series. Listen in the apps above or wherever you can find them.

Related Video

Carpenƫer opens ưp aƀout her neωest song, Personal History, wⱨich she has been recording and revising for almost ƒive decades. The five-time Grammy winner tries to strike a balance between the intellectual and the plainspoken, as she has done so since her late 1980s breakthrough, while still coming up with novel approaches to writing from the center. She claims,” I can’t cover behind it again,” adding,” At this point in my life. “

The reports on Personal History flow more naturally to remembrance, according to Carpenter. She explains that “it kinds of ρlays tⱨat way” iƒ yσu accept the notion that dαy is fluid. She chuckles at her frequent coffȩe links, claiminǥ that” Mαry Chapin loves her java” and that” tⱨere aɾe lots of women and ƫheir puppįes, but people of αll stripes” is a stɾong point. Dogs make existence worthwhile. Sⱨe also discussȩs hoω manufacturer Josh Kaufman, who produced thȩ soundtrack for both Ƥersonal History and thȩir earlier engageɱent with Britiȿh players Julie Fowlis and Kaɾine PoIwart, Searching for tⱨe Thread, was a result of their partnership. She claims that “working with Josh is a dream. ” One of the mosƫ innovative sinǥers currently playing is Bonny Łight Horseman.

Afterwards in tⱨe seasσn, Berry aȵd Loω frontman Alan Sparhawk discuss their cσllaboration album Crushed by Turtles. Accorḑing to Berry,” Low ωere thȩ chaȵnel tⱨat we looked up to when we first started out in Duluth. ” They instructed us on how to conduct our business. Even though the singer’s schedules make life performances uncommon, the new album honors that genealogy. He claims that it makes it unique. Because we won’t be able to visiƫ įt correctly, it actually happȩns. You can purchase tickets for those and all of TbT’s approaching music around. They currently have two times on their plan: December 11 in Saint Paul, Minnesota, and March 29th, 2026 at Big Ears Festival in Knoxville, Tennessee.

In thȩ most recent event, Mary Chαpin Carpenter talks about personal history, Trampled by Turtleȿ, their With Trampled by Turtles soȵg, AIan Sparhawk, aȵd more, σr watch ƫhe video in tⱨe movie below. Follow Kyle Meredith With… σn your preferred audio system, and subscɾibe tσ the Consequence Podcast Network to listen to αll the neweȿt episodes.

JKBX – the Sport Changer? – Music Enterprise Analysis

JKBX – the Sport Changer? – Music Enterprise Analysis


JKBX, pronounced like ‘jukebox’, might be a sport changer for the music funding markets. Fairly than providing low-yield music catalogues from second-tier artists, JKBX sells revenue participation rights to royalty streams from helpful catalogues, corresponding to that housing the songs of OneRepublic frontman Ryan Tedder. By doing this, JKBX hyperlinks the billion-dollar music rights market with the idea of fragmented music rights on funding marketplaces. Solely time will inform whether or not this idea will finally achieve the long run. On this a part of the weblog sequence, we study JKBX’s enterprise mannequin and company construction in additional element.

Music Funding Marketplaces – Half 4: JKBX – the Sport Changer?*

The Basis of JKBX

Jukebox Know-how LLC was based by the music trade veteran Scott Cohen in addition to Sam Hendel and John Chapman of UK-private fairness agency Dundee Companions in 2023 headquartered in Culver Metropolis/California. In September 2023, Jukebox Know-how launched the fractionalised music royalty platform http://www.jkbx.com on the Web.[1] Scott Cohen co-founded with Richard Gottehrer the digital music distributor The Orchard in New York Metropolis in 1997, which was acquired by Sony Music Leisure in two tranches in 2012 and 2015 for a complete of US $300 million.[2] In 2019, Cohen left The Orchard to develop into Chief Innovation Officer at Warner Music Group,[3] earlier than  becoming a member of Sam Hendel and John Chapman to kind Jukebox Know-how.

Dundee Companions collaborates with Chord Music Companions, owned by the PE firm Kohlberg Kravis Robert & Co. (KKR), to purchase the KMR Music Royalties II fund for US $1.1 billion[4] in addition to the music catalogue of the One Republic frontman and songwriter Ryan Tedder.[5] Dundee can also be a associate of the PE firm Francisco Companions and MUSIC, which bought the Swedish Kobalt Music Group for US $750 million.[6] Subsequently, Dundee Companions was concerned within the acquisition of three giant music catalogues.

The Construction and Functioning of JKBX

JKBX is just not the innovator of fractional music royalty marketplaces however is nonetheless a sport changer. In contrast to a lot of the music funding marketplaces that promote participation rights in artists royalty income streams, JKBX targets giant music rights house owners that need to monetize their catalogues.[7] Rightsholders can provide components of their music catalogues (publishing and grasp rights) as royalty shares on the JKBX platform. Subsequently, Jukebox Know-how based the Delaware registered firm Jukebox Hits Vol. 1 LLC on 3 April 2023, which secured US Securities and Alternate Fee (SEC) approval as a Regulation A providing[8] in March 2024.[9] The Providing Round describes Jukebox Hits Vol. 1 LLC as “(…) restricted legal responsibility firm established to facilitate and handle traders’ financial publicity to the Firm’s contractual proper to obtain a portion of the royalties, charges, and different revenue streams (“Earnings Pursuits”) associated to or derived from musical songs, compositions, sound recordings, portfolios or catalogs (“Music Belongings”).”[10] Subsequently, Jukebox Hits Vol. 1 enters into buy agreements with so-called revenue curiosity house owners, a synonym for music catalogue house owners. The music belongings are break up up into so-called Royalty Shares which are issued in sequence, associated to a selected music asset corresponding to a composition, a sound recording or a portfolio of songs. As Jukebox Hits Vol. 1 is a SEC registered firm, the music belongings are offered like shares. The patrons of the Royalty Shares are entitled to obtain a portion of the royalty income generated by the underlying licenses. Nevertheless, the Providing Round clarifies that the issued Royalty Shares “are unsecured restricted obligations”, which “don’t confer any voting rights on the holders thereof.”[11] This makes it clear that the acquisition of royalty shares doesn’t set up possession of the traders within the firm Jukebox Hits Vol. 1 nor within the underlying music belongings. Buyers in JKBX royalty shares solely purchase contractual rights to earned royalty streams. The contractual rights are bought as Royalty Shares on the web-based platform http://www.jkbx.com, which is owned by Jukebox Know-how LLC.[12] Whereas Jukebox Hits Vol 1 LLC is managed and administered by the Delaware registered firm Double Platinum Administration LLC.[13]

Determine 1: The JKBX conglomerate

Supply: After Jukebox Hits Vol. 1 LLC, “Providing Round”, March 1, 2024, p. 19.

At the moment the one catalogue proprietor that has entered a purchase order settlement with Jukebox Hits Vol. 1 LLC on 5 November 2023 is the Coda Songs LLC,[14] which is a 100 per cent affiliate of Inkling Capital LLC. The only proprietor of Inkling Capital, nevertheless, is John Chapman, who’s a co-founder of JKBX.[15] Subsequently all of the underlying publishing and grasp rights for the Royalty Shares are owned by a senior govt of JKBX. The data spotlight that Jukebox Hits Vol. 1 LLC paid US $43 million in money to Coda Songs LLC to accumulate the revenue pursuits within the music belongings.[16] The acquisition worth needs to be refunded by the sale of the Royalty Shares, that are supplied to so-called “certified purchasers”.[17]

The Financial Potential of JKBX

Determine 2: The highest 10 performing Royalty Shares by yield

Title Re-lease Date Rights sort Royalty sort Songwriterrecording artist producer 2023 royalty revenue Worth per share No. of shares Yield
All people Loves Me 2009 Sound recording producer Associated rights Digital Producer Ryan Tedder $685.16 $16.00 25 171.29%
If I Lose Myself 2013 Sound recording producer Associated rights Digital Producer Ryan Tedder $8,884.61 $1.84 50,000 9.66%
Wings 2013 Sound recording producer Associated rights Digital Royalty participant Producer Ryan Tedder $4,777.47 $31.00 2,000 7.71%
Ghost 2014 Compo-sition Songwriter Public perfor-mance SongwriterRyan Tedder $25,440.05 $3.34 100,000 7.62%
Wings 2013 Compo-sition Songwriter Public perfor-mance SongwriterRyan Tedder $17,921.20 $2.38 100,000 7.53%
Counting Stars 2013 Sound recording producer Associated rights Digital Producer Ryan Tedder $22,559.59 $3.23 100,000 6.98%
Welcome to New York 2014 Sound recording producer Associated rights Digital Royalty participant Producer Ryan Tedder $3,008.46 $45.00 1,000 6.68%
Good Life 2009 Sound recording producer Neighbouring Digital Producer Ryan Tedder $5,551.65 $1.55 60,000 5.97%
All of the Proper Strikes 2009 Sound recording producer Neighbouring Digital Producer Ryan Tedder $9,636.64 $1.65 100,000 5.84%
Counting Stars 2013 Compo-sition Songwriter Public perfor-mance Sync Mechanical Different SongwriterRyan Tedder $345,190 $31.37 200,000 5.50%

Supply: JKBX, “All Listings”, n.d., accessed: 2025-03-27.

Determine 3: The ten worst performing Royalty Shares by yield

Title Re-lease Date Rights sort Royalty sort Songwriterrecording artist producer 2023 royalty revenue Worth per share No. of shares Yield
Diploma-tico 2018 Sound Recording Grasp Gross sales
Sync Digital
Label: Third Pardee Data $5,807.43 $3.47 100,000 1.67%
Make It Sizzling 2019 Sound Recording Grasp Gross sales
Sync Digital
Label: Third Pardee Data $3,640.77 $2.35 100,000 1.55%
Brighter Than The Solar 2011 Sound Recording Producer Associated rights Digital Royalty participant Producer: Ryan Tedder $851.30 $55.00 1,000 1.55%
Each Breaking Wave 2014 Sound Recording Grasp Associated rights Digital Royalty participant Producer: Ryan Tedder $1,576.65 $1.80 60,000 1.46%
Blow That Smoke 2018 Sound Recording Grasp Gross sales
Sync Digital
Label: Third Pardee Data $3,999.92 $2.79 100,000 1.43%
Track For Somebody 2014 Sound Recording Producer Associated rights Digital Royalty participant Producer: Ryan Tedder $2,284.66 $1.66 100,000 1.38%
Connec-tion 2018 Sound Recording Producer Associated rights Digital Producer: Ryan Tedder $1,215.65 $2.02 50,000 1.20%
Specific Style 2018 Compo-sition Songwriter Public perfor-mance Songwriter: Ryan Tedder $266.05 $24.00 1,000 1.11%
Specific Style 2018 Sound Recording Producer Associated rights Digital Royalty participant Producer: Ryan Tedder $0.78 $50.00 3 0.52%
Burn 2012 Sound Recording Producer Associated rights Digital Producer: Ryan Tedder $0.00 $10.00 100 0.00%

Supply: JKBX, “All Listings”, n.d., accessed: 2025-03-27.

The SEC Regulation A providing of Jukebox Hits Vol. 1 LLC stipulates that solely “accredited traders” can purchase Royalty Shares. These are pure individuals with an revenue of greater than US $200,000 in every of the 2 current years and so-called Excessive Web Price People (HNWIs) with a internet wealth increased than US $1 million.[18] Subsequently, solely comparatively rich traders can purchase JKBX Royalty Shares. Therefore, JKBX has the proper to evaluate and settle for but in addition reject a subscription to purchase Royalty Shares.[19] The JKBX music funding market, subsequently, solely permits restricted entry to its merchandise. The preliminary providing worth of the Royalty Shares are decided by Double Platinum Administration on an arbitrary foundation.[20] JKBX factors to the danger, that the precise worth of the funding, subsequently, could also be lower than what traders pay.[21] The Royalty Shares are offered on the www.jkbx.com platform on the Web to “certified traders” and the proceeds from the providing are used to fund the acquisition prices of the Royalty Rights and to pay overhead, worker prices, utilities and expertise prices, which incur by the administration firm.[22]

Though JKBX plans to launch a secondary market to commerce Royalty Shares, there isn’t any intention to commerce Royalty Shares on a inventory alternate. At the moment, nevertheless, no different buying and selling system is obtainable on the JKBX webpage.[23] It’s because Royalty Shares are unsecured restricted obligations of Jukebox Hits Vol. 1 LLC, whose commerce is related to a excessive danger.[24] Jukebox Hits Vol. 1 LLC has issued 97 Royalty Shares with completely different underlying composition and recording rights.

Regardless of its potential for innovation, JKBX is at the moment a gross sales platform for contractual rights to earned royalty streams and restricted to rich traders. It’s neither a buying and selling platform for music rights nor a inventory alternate for music shares. Moreover, JKBX solely has a single music catalogue, acquired from Coda Songs for round US $43 million. This funding should first be recouped by the sale of Royalty Shares. It stays to be seen whether or not additional music catalogues shall be obtainable for the sale of Royalty Shares sooner or later.


Endnotes

[1] Billboard, “Wish to Make investments In Your Favourite Track? JKBX Bets Followers Will Deliver Billions to Market”, August 25, 2023, accessed: 2025-03-25.

[2] Billboard, “Sony’s Orchard Acquisition, By the Numbers and Behind the Scenes”, March 19, 2015, accessed: 2025-03-25.

[3] Music Enterprise Worldwide, “Official: Warner hires Scott Cohen, co-founder of The Orchard, as Chief Innovation Officer, Recorded Music”, March 6, 2019, accessed: 2025-03-25.

[4] Music Enterprise Worldwide, “Confirmed: Kobalt sells catalog to new KKR enterprise, Chord, for $1.1 billion”, October 19, 2021, accessed 2025-01-15.

[5] Music Enterprise Worldwide, “KKR buys majority stake in Ryan Tedder catalog, marking funding large’s return to music rights possession“, January 11, 2021, accessed: 2024-12-11.

[6] Music Enterprise Worldwide, “Kobalt Music Group offered to US-based personal fairness agency Francisco Companions”, September 7, 2022, accessed: 2024-12-11.

[7] In September 2023, JKBX additionally launched its Creator Program for artists, who need to promote a share of their royalty income streams; see: Music Enterprise Worldwide, “JKBX, launching this week, confirms it should pay songwriters and artists direct by way of ‘Creator Program’ – even when they don’t personal their rights”, September 11, 2023, accessed: 2025-03-25.

[8] A Regulation A providing is a sort of mini Preliminary Public Providing (IPO), which permits to supply and promote securities to the general public by way of a course of that’s much like, however much less in depth than, a registered providing; see: US Securities and Alternate Fee (SEC), “Regulation A”, November 14, 2024, accessed: 2025-03-25.

[9] Music Enterprise Worldwide, “Music royalties buying and selling platform JKBX launches – with regulatory approval from the SEC”, March 6, 2024, accessed: 2025-03-25.

[10] Jukebox Hits Vol. 1 LLC, “Providing Round”, March 1, 2024, p. 1.

[11] Ibid.

[12] Ibid., p. 2.

[13] Ibid., p. 1.

[14] Ibid., p. 16.

[15] Ibid., p. 45.

[16] Ibid., p. 61.

[17] Ibid., p. 13.

[18] Ibid., p. 49.

[19] Ibid.

[20] Ibid., p. 25.

[21] Ibid., p. 34.

[22] Ibid., p. 14.

[23] Ibid., p. 2.

[24] Ibid., p. 34.

This weblog submit relies on the report IP Finance within the Music Business, which was commissioned by the World Mental Property Rights Group (WIPO).

The Life & Music of Composer Louise Farrenc

The Life & Music of Composer Louise Farrenc


Louise Farrenc is among the most unjustly uncared for composers of her technology.

However regardless of the challenges of working as a girl musician within the nineteenth century, she carved out a unprecedented multi-pronged profession for herself as a professor, performer, and composer.

Right now, we’re wanting on the life and achievements of Louise Farrenc and exploring among the unbelievable music she left behind.

Louise Farrenc

Louise Farrenc’s Inventive Household Background

Louise Farrenc was born Louise Dumont on 31 Could 1804. This was six months after fellow French composer Hector Berlioz, and some years earlier than Mendelssohn, Schumann, and Chopin.

Her father was Jacques-Edme Dumont, a sculptor from a protracted line {of professional} sculptors.

Her household tree additionally included a number of completed ladies painters who labored alongside their husbands and fathers within the household enterprise. The household clearly valued and nurtured feminine creative achievement.

Louise Farrenc’s Early Musical Research

Muzio Clementi

Louise started finding out piano as a baby. Her first trainer was a girl named Cecile Soria, who had studied with Italian composer and keyboard virtuoso Muzio Clementi.

As Louise superior, she started finding out with Ignaz Moscheles, the trainer of Felix Mendelssohn and his sister Fanny. She additionally labored with Johann Nepomuk Hummel, who had studied with Mozart.

Quickly Louise grew to become all for composing, too.

Being a girl, she was barred from formally finding out composition on the Paris Conservatoire. Nonetheless, when she was fifteen, her dad and mom organized for her to begin taking non-public classes with a Conservatoire trainer named Anton Reicha.

Anton (Antoine) Reicha

Reicha was a buddy of Beethoven and would go on to show Liszt and Berlioz. He grew to become Louise’s major pedagogical affect.

Louise Farrenc’s Etude in F Sharp Minor, op. 26 no. 10

Assembly and Marrying Aristide Farrenc

Aristide Farrenc

In 1821, Louise married flute pupil Aristide Farrenc, a Conservatoire pupil and orchestral flautist on the Théâtre Italien in Paris. Louise was seventeen and Aristide was twenty-seven.

On the time, it was widespread for married ladies to retire from severe musical life, or to proceed it privately by establishing home-based salons.

Nonetheless, public efficiency remained central to Louise’s life. In truth, after their marriage, the Farrencs went on tour collectively.

Settling Down and Having a Child

After a number of years of working as a performing musician, Louise grew to become pregnant, and the couple determined to calm down in Paris. There she resumed her research with Reicha.

In February 1826, when she was twenty-one, she gave delivery to a daughter named Victorine. Victorine can be the couple’s solely little one.

Victorine additionally grew to become a piano prodigy and composer, and studied along with her mom starting in 1831.

Louise Farrenc’s Trio for flute, cello and piano, Op. 45

Founding Éditions Farrenc

Across the similar time, Louise and Aristide additionally started tackling an bold new undertaking: working collectively to discovered a music publishing home.

Aristide understood what a gifted composer his spouse was, and he wished to assist propagate her works.

They named their firm Éditions Farrenc, and it grew to become one of the revered music publishing homes in France.

After publishing twenty piano works by his spouse, the Farrencs dissolved the publishing enterprise in 1837.

Louise Farrenc’s Rising Success

Louise Farrenc

In the meantime, Louise continued to get pleasure from success all through the 1830s.

Composer Robert Schumann, the editor of the Neue Zeitschrift für Musik, praised a set of her piano variations in 1836:

Had been a younger composer to undergo me variations akin to these by L. Farrenc, I might reward him extremely for the auspicious expertise and high-quality coaching in all places mirrored in them.

I quickly realized the identification of the writer – fairly, authoress – the spouse of the famend music writer in Paris, and I’m distressed as a result of it’s hardly possible that she is going to ever hear of those encouraging strains.

Small, neat, succinct research they’re, written maybe nonetheless beneath the attention of the grasp, however so positive in define, so logical in improvement – in a phrase, should fall beneath their attraction…particularly since a refined aroma of romanticism hovers over them.

As is well-known, themes which lend themselves to imitation are most fitted to variation, and so the composeress utilises this for every kind of pleasant canonic video games.

She even manages to hold off a fugue – with inversions, diminutions, and augmentation – and all this she manages with ease and songfulness.

Solely within the finale would I’ve wished the calm bearing I had been led to count on after what got here earlier than.

Louise Farrenc’s Variations Brillantes, Op. 15

Writing for Orchestra and Chamber Music Ensembles

Confidence buoyed by constructive suggestions, Farrenc started to jot down for bigger forces. Her first works for orchestra – two live performance overtures – date from 1834.

Louise Farrenc’s Overture No. 2

In 1840, Berlioz reviewed the second overture, writing that it was “effectively written, and orchestrated with a expertise uncommon amongst ladies.”

Within the late 1830s and early 1840s, she additionally started to sort out chamber music. She wrote two piano quintets in 1839 and 1840, adopted by two piano trios between 1841 and 1844.

Nonetheless, her biggest accomplishment as a chamber music composer got here in 1849 along with her Nonet in E-flat Main, revealed as her Op. 38.

On this work, she used instrumentation conventions established by violinist and composer Louis Spohr: two violins, viola, cello, bassoon, clarinet, flute, French horn, and a bass half performed by both a string bass or a contrabassoon.

Louise Farrenc’s Nonet

Becoming a member of the Paris Conservatoire School

In 1842, she was named to the piano college of the Paris Conservatoire.

Though there have been different ladies working within the faculty’s vocal division, Farrenc can be the one lady to carry this explicit place for the remainder of the nineteenth century.

She achieved fabulous outcomes. Through the years, lots of her piano college students gained prizes. All had been ladies, as courses on the Conservatoire had been segregated by gender.

Prizewinners included her daughter Victorine, who enrolled as a piano pupil in 1843 and gained a premier prix the next yr.

Negotiating Equal Pay for Equal Work

Joseph Joachim

In 1850, Farrenc’s Nonet was carried out in Paris by, amongst others, up-and-coming violinist Joseph Joachim. It was an enormous hit.

She used the renown the work introduced her to barter a wage on par along with her male counterparts. For years, she had been paid lower than them solely due to her gender.

She wrote to her boss:

I dare hope, M. Director, that you’ll agree to repair my charges on the similar degree as these gents, as a result of, setting apart questions of self-interest, if I don’t obtain the identical incentive they do, one would possibly suppose that I’ve not invested all of the zeal and diligence obligatory to satisfy the duty which has been entrusted to me.

Her attraction was profitable.

Writing Symphonies

After Farrenc was named to the Conservatoire college, she additionally started writing symphonies.

This was a hanging factor for a French composer to do. Symphonies loomed a lot bigger within the German musical custom than within the French one, and there weren’t many symphony orchestras in Paris.

It was particularly uncommon for a girl to do that style, given the skilled credentials often essential to persuade an orchestra to play one’s work.

Nonetheless, between 1842 and 1847, Farrenc wrote three symphonies. Right now her best-known is her third in G minor.

Louise Farrenc’s Symphony No. 3

Its elegant emotional restraint, technical rigour, and sheer magnificence will remind fashionable listeners of Mendelssohn’s symphonies.

The work was premiered in 1849 by the Orchestre de la Société des concert events du Conservatoire, an orchestra made up of each professors and college students.

That evening her symphony was programmed alongside Beethoven’s Fifth, an endorsement of the Conservatoire’s excessive opinion of her.

Placing Her Work in Context

It’s astonishing to consider how good her orchestral works are, contemplating how few instances she truly obtained to listen to them carried out.

Many of the nice composers of this period heard and carried out their works a number of instances in efficiency earlier than writing extra.

Farrenc by no means had that chance. And but she wrote a number of staggeringly completed orchestral works in a time when few ladies had been making an attempt the problem.

The Obstacles of Writing for Opera

Farrenc wished to jot down opera, too, however it was exceedingly troublesome for rising composers to have operas accepted to be mounted in Paris within the mid-1800s, particularly in the event that they had been ladies.

In 1862, French critic François-Joseph Fétis wrote in his ebook Biographie universelle des musiciens:

Sadly, the style of large-scale instrumental music to which Madame Farrenc, by nature and formation, felt herself referred to as entails efficiency assets which a composer can purchase for herself or himself solely with huge effort.

One other issue right here is the general public, as a rule, not a really educated one, whose solely normal for measuring the standard of a piece is the title of its writer.

If the composer is unknown, the viewers stays unreceptive, and the publishers, particularly in France, shut their ears anyway when somebody presents them a midway respectable work; they consider in success just for trinkets.

Such had been the obstacles that Madame Farrenc met alongside the way in which, and which precipitated her to despair.

The Tragic Demise of Victorine

Regardless of her works’ top quality and the truth that they remained in print for seventy-five years after their preliminary publication, they had been largely forgotten by the early twentieth century.

It’s tempting to marvel if issues might need been completely different if she’d had a member of the family outlive her and advocate for her work, as pianist Clara Schumann advocated for the work of her husband Robert.

Victorine might have been that individual for her mom, however she died in her mid-thirties in 1859 of tuberculosis.

Louise Farrenc’s Cello Sonata in B-Flat Main, Op.46

Focusing On Le Trésor des pianistes

Whereas grieving the devastating lack of their solely daughter, Louise and Aristide Farrenc labored collectively on an enormous assortment of piano music referred to as Le Trésor des pianistes (The Pianists’ Treasure).

Aristide did a lot of the analysis, whereas Louise centered on Baroque ornamentation. She grew to become more and more all for forgotten Baroque music for harpsichord, and was working to popularise now-beloved composers like Couperin and Scarlatti.

After Aristide died in 1865, Louise continued the undertaking alone. It might finally develop to change into a twenty-three-volume assortment: a powerful capstone on a protracted profession.

Louise Farrenc’s Demise and Legacy

Louise Farrenc died in 1875.

After her dying, the Live performance Nationwide performed the gradual motion of her third symphony in tribute. Her music remained in print for years afterwards earlier than slipping out of the more and more male canon.

These days, Farrenc is fortunately experiencing a much-deserved revival and reassessment. An increasing number of of her works are being recorded and showing on live performance packages.

Hopefully, this pattern will proceed for a few years to come back, securing the everlasting place within the canon that she so richly deserves.

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Louise Farrenc’s Symphony No. 2

The Financial Potential of MIMs – Music Enterprise Analysis

The Financial Potential of MIMs – Music Enterprise Analysis


Within the earlier 4 components (half 1, half 2, half 3 and half 4) of the sequence on music funding marketplaces, we analysed many alternative enterprise fashions, together with people who have failed. On this fifth and last a part of the weblog sequence, we’ll summarise the findings from components 1-4 and assess the financial potential of the person fashions. Particularly, we’ll consult with the completely different copyright frameworks in america in comparison with different nations, particularly in Europe, to reply the query of what’s wanted to create a well-functioning and clear music funding market.

Music Funding Marketplaces – Half 5: The Financial Potential of MIMs

Completely different Enterprise Fashions of MIMs

Music funding marketplaces purpose to monetise music rights for buyers and create a market for them. Nonetheless, evaluation of music funding marketplaces exhibits that there are at the moment many alternative fashions vying for the favour of buyers. Usually, MIMs goal small buyers and music followers who should purchase shares in music rights for a number of {Dollars} or Euros. There are additionally choices corresponding to Royalty Alternate, sliceNote and JKBX, that are aimed extra at rich buyers or excessive web price people who can afford to speculate bigger quantities per share. Generally, nonetheless, buyers can’t purchase music rights instantly, however solely participation rights in royalty streams. Resulting from copyright legal guidelines in a lot of the European nations, it isn’t potential to buy music rights. Rights can solely be licensed to be used. Because of this, European marketplaces solely supply oblique methods for consumers to generate income from music rights. Completely different methods are used. The Austrian MIM World Rockstar presents “alternatives” through a crowdfunding platform to small buyers who can purchase participation rights within the income streams of artists. As World Rockstar additionally operates a label and a music publishing firm, artists can both license their rights on to World Rockstar or supply them on the market instantly on the platform within the type of participation rights. In each instances, buyers don’t obtain any rights to the underlying publishing and grasp rights.

Different platforms additionally supply rights to royalty streams, marketed beneath names corresponding to “SongShares” from the French firm Bolero or “Preliminary Music Choices” (IMOs) from the Swedish MasterExchange. The US-based JKBX additionally doesn’t promote shares in music rights or songs instantly, however participatory rights within the type of “Royalty Shares”. Solely the US platforms slice Be aware and Royalty Alternate supply shares in music rights for direct buy, primarily to rich buyers keen to pay US $10,000 per share.

Shares are offered both at costs set upfront by the platforms or the rights house owners, or via auctions, as within the case of SongVest, Musicow and ANote Music. Musicow and ANote Music enable bought shares to be resold on secondary buying and selling platforms after the preliminary buy, though the administration charge per transaction is often larger on the secondary market. The European MIMs Tangy Market and Bolero observe an analogous mannequin, however and not using a prior public sale. Resale platforms are additionally deliberate for World Rockstar and JKBX. Nonetheless, JKBX explicitly states that the Royalty Shares can solely be traded on the corporate’s personal secondary gross sales platform and never on an exterior inventory trade.

Some platforms try to unravel the repurchase of music rights shares via tokenisation, promoting the participation rights within the type of non-fungible tokens (NFTs) on the blockchain. Swedish platforms MasterExchange and Anotherblock and Turkish platform Parça promote music rights NFTs on the Ethereum and Polygon blockchains respectively. The Austrian platform World Rockstar additionally permits the acquisition of NFTs along with the traditional analogue sale of “alternatives”.

The Situations for a Functioning Music Funding Market

The completely different fashions present that it’s tough to make music rights a tradable commodity that may be purchased and offered by small buyers. Particularly outdoors the US, copyright legal guidelines make it tough to make music rights tradable as monetary merchandise. As well as, many artists don’t management their publishing and mastering rights and may solely “promote” their earnings streams from accumulating societies within the type of participation rights. It’s simpler for music publishers and labels to monetise their music catalogues on MIMs, as the instance of JKBX exhibits.

The US subsequently has a bonus over the EU due to its copyright framework. It’s not solely the likelihood to promote copyright and associated rights that makes the US a thriving music rights market, but in addition the opportunity of reversion rights, that are primarily utilized by superstars to regain management over their music catalogues. Nonetheless, the excessive fragmentation of rights within the EU can be an impediment to the event of a well-functioning music rights market. If, as within the US, it’s potential to amass not solely the publishing and grasp rights of an artist, but in addition the NIL (identify, picture and likeness) rights, then this bundle of rights has a better financial worth. Then again, transaction prices improve when completely different rights are distributed amongst completely different actors. If, furthermore, music rights can’t be offered however solely licensed to be used, as is the case within the EU, then, because the music funding marketplaces present, difficult workarounds corresponding to rights to royalty streams have for use. Finally, nonetheless, it’s a political determination whether or not the authorized framework ought to encourage the creation of music markets on the expense of the authorized safety of creators.

For music funding marketplaces to work effectively, they want additionally helpful music catalogues that generate a daily income stream. That’s why MIMs work higher in markets the place such music catalogues are extra available – such because the US, South Korea (because of Okay-Pop) and Sweden (because of many internationally profitable songwriters) – than in markets the place these situations aren’t met. The failure of Estonia’s Fanvestory is an efficient instance of how a supplier wants the backing of a robust market to function its enterprise mannequin in a sustainable means. This enterprise mannequin is based on taking administration charges, which vary from 1 to eight per cent per transaction for the varied suppliers. Nonetheless, it is sensible to have a second monetary mainstay, corresponding to World Rockstar, which can be a music writer and label. One other necessary success issue is that the MIMs have adequate liquidity, i.e. investor capital. An absence of liquidity has proved deadly for Fanvestory, Vezt and Royal.io, which have already ceased buying and selling attributable to a scarcity of investor capital.

That is additionally attributable to the truth that returns don’t at all times meet expectations. An evaluation of the returns on Royalty Alternate and JKBX exhibits that the values are extremely depending on {the catalogue} and the efficiency of particular person songs, which can be extremely risky over time. As well as, most platforms supply comparatively few funding alternatives, often effectively beneath 100. Solely Royalty Alternate and Musicow have greater than thousand funding alternatives on their webpages. World Rockstar, Tangy Market, SongVest, Bolero and JKBX are in the course of the vary with not less than 100 alternatives.

Mainly, it’s a dangerous funding that’s not advisable for small buyers with out prior information of how the music rights enterprise works. Because of this, South Korea’s Monetary Companies Fee took motion to research Musicow’s enterprise mannequin extra intently and solely gave the corporate the inexperienced mild to proceed working after the Korean platform improved investor safety.

Then again, music funding marketplaces enable artists to monetise their music rights and followers to speculate, not less than not directly, of their favorite music. Both means, there may be potential for the creation of an progressive market for music rights, though there must be regulatory safety for each the rights holders who supply their royalty shares on the market and the small-scale buyers who purchase monetary merchandise backed by music rights.