#TheWeeklyRoundUp – 17.11.23

Hipgnosis Songs Fund Is Melting Down — What Comes Next for the Formerly High-Flying IP Investor? (digital music news)

Late last month, following several far-from-ideal developments for Hipgnosis Songs Fund (HSF), investors voted overwhelmingly against the Merck Mercuriadis-founded operation’s continuation. In this in-depth report, we look at what led to the fund’s current predicament and what may come next.

On October 26th, Hipgnosis Songs Fund formally announced the result of its much-anticipated continuation vote. Presumably lengthy discussions with leading investors and the launch of a sweeping strategic review weren’t enough to change the minds of fed-up shareholders, who cast just 16.8% of votes in favor of keeping the fund alive in its present form.

In the wake of the stunning rebuke, HSF’s board acknowledged that it would “put forward proposals for the reconstruction, reorganization or winding-up of the” business to shareholders within six months. These proposals, the board also emphasized, could involve liquidating the fund’s assets

Among the latter are billions of dollars in music IP, spanning 65,413 songs by HSF’s count and including the catalogs of The Chainsmokers, Timbaland, Fraser T. Smith, Journey, Barry Manilow, Nikki Sixx, 50 Cent, Shakira, and The Red Hot Chili Peppers.

The significant name value of the listed professionals alone, not to mention the revenue potential of their bodies of work, raises multiple questions. Chief among them: How exactly did Hipgnosis Songs Fund go from executing a historic song-rights landgrab to facing a possible liquidation in only five years? And what’s likely to happen next?

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Spotify Blend takes centre stage at Rocking The Daisies (SA music news and Entertainment)

Spotify Blend takes centre stage at Rocking The Daisies – The rise of streaming platforms has revolutionised the way we share and connect through music, eliminating the complexities of past eras. Spotify remains at the forefront, pioneering in this domain through its commitment to bringing people together with music on the platform.

Leaning on its commitment, in 2021, Spotify introduced Blend, a shared social listening feature that combines the musical preferences of friends and families, as well as fans and artists, into one, enabling users to enjoy music seamlessly.

South African Spotify users have embraced the Blend future since its launch as revealed in the data released early on.  Each user has created over one Blend, trailing closely behind the global users with over two Blends. Additionally, the number of Blends created each year globally by Spotify users has grown by 47% in 2023.

“The saying ‘Music should be shared’, reveals the enthusiasm surrounding Blend when it comes to South African users. It highlights the innate desire of people to share experiences. With music, the sharing experience is much more personal. Personalisation will always remain a key element of our product.” ~ Spotify’s Head of Marketing for Sub-Saharan Africa Sithabile Kachisa

All about “Blend Date”
Spotify Blend is taking centre stage at the Rocking The Daisies festival in Cape Town. This, through a gamified 90s-inspired dating show called “Blend Date”. Blend Date playfully addresses the irony of a generation both highly connected online but often disconnected in person.

Guests who engage in Blend’íng with festival-goers will have the opportunity to unlock physical connections and earn unique festival incentives. In addition, Blend’s ability to deepen the fans’ connection with artists. Combining their musical tastes will be creatively showcased at the festival through a surprise artist Blends initiative.

“Music allows us to express ourselves in different ways, and for artists, the expression comes through the content they create. However, there is a deeper expression that fans are discovering and experiencing through their Blend with artists,” Kachisa adds.

Celebrity Blends on Spotify that will be available during the Rocking The Daisies festival include Megan Thee Stallion, Miley Cyrus, and Post Malone. Fans of the festival can also connect through the Daisies Radio playlist which captures the taste of South Africa’s biggest three-day music experience. Ayra Star’s Rush and Tyler ICU’s viral song Mnike are some of the sixty songs on the playlist.

To create a Blend, users can simply tap the ‘Your Library’ tab then tap Add’ and choose ‘Blend’. After creating one, users can tap ‘Invite’ and send the link to their friends or family.