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☆ How much money does Mariah Carey make from ‘All I Want For Christmas Is You’? ‘It’s a lot,’ music expert says
▼ + stars: | 2024-12-22 | by ( Greg Iacurci | ) www.nbcnews.com time to read: +8 min

Why Carey is likely getting paid ‘six ways to Sunday’The ecosystem of music royalties is notoriously convoluted. Music royalties are different from those of other works like books or photography. Carey and Afanasieff split their writing credits with publishers including Universal Music, Sony Music and Kobalt Songs Music Publishing, according to ASCAP. Afanasieff, Sony Music and Kobalt Songs Music Publishing didn’t return requests for comment. She made about $1.9 million of the master recording revenue, Billboard estimated, while her label, Sony, kept the other $3.4 million.

Persons: Mariah Carey’s, Carey, Chris Chambers, didn’t, ”, Natasha Chee, Donahue Fitzgerald, George Howard, Howard, Phillips, Walter Afanasieff, Jordan Bromley, Carey “, ” Howard, “ She’s, —, Afanasieff, Bromley, Entertainment’s Bromley, Chee Organizations: Billboard, The Chamber Group, Spotify, Berklee College of Music, Rykodisc, Phelps, Manatt Entertainment, ASCAP, Universal Music, Sony Music, Music Publishing, Columbia Records, Publishing, Universal Music Publishing, Sony Locations: U.S, Manatt

☆ How much money does Mariah Carey make from 'All I Want For Christmas Is You'? 'It's a lot,' music expert says
▼ + stars: | 2024-12-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

Mariah Carey performs "All I Want for Christmas Is You" at the 2023 Billboard Music Awards. Jeff Kravitz | Filmmagic, Inc | Getty ImagesThe ecosystem of music royalties is notoriously convoluted. Carey and Afanasieff split their writing credits with publishers including Universal Music, Sony Music and Kobalt Songs Music Publishing, according to ASCAP. Afanasieff, Sony Music and Kobalt Songs Music Publishing didn't return requests for comment. All told, these estimates suggest Carey may have made about $2.7 million to $3.3 million from recording and publishing in 2022.

Persons: Mariah Carey, Gilbert Flores, Mariah Carey's, Carey, Chris Chambers, didn't, Natasha Chee, Donahue Fitzgerald, George Howard, Kevin Mazur, Howard, Phillips, Jeff Kravitz, Walter Afanasieff, Jordan Bromley, She's, —, Afanasieff, Bromley, Santa Claus, James Devaney, Berklee College of Music Carey, Entertainment's Bromley Organizations: Penske Media, Billboard, The Chamber Group, Spotify, Berklee College of Music, Rykodisc, Madison, Garden, Getty, Phelps, Beacon Theatre, Inc, Finance, Manatt Entertainment, ASCAP, Universal Music, Sony Music, Music Publishing, Columbia Records, Publishing, Universal Music Publishing, Rockefeller Center, Wireimage, Sony Locations: U.S, New York City, Manatt, Santa

☆ Who is Cher's boyfriend Alexander Edwards? The 38-year-old music executive has a son with Amber Rose
▼ + stars: | 2024-11-20 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +7 min

AdvertisementCher is dating Alexander Edwards, a music executive and producer. Cher rose to fame alongside her first husband Sonny Bono, who was 11 years her senior. AdvertisementEdwards is a music-industry executive who has worked with Def Jam RecordsTyga and Alexander Edwards at the 2024 Victoria's Secret Fashion Show. AdvertisementAs for his future plans, Edwards told Stoned Fox that he's also interested in acting. "Slash Electric Alexander Edwards.. the world is urs now," he wrote in the caption, per People.

Persons: Alexander Edwards, Edwards, Slash, who's, Cher, Alexander, AE, Sonny Bono, Warren Beatty, Kevin Mazur, Stoned Fox, Coco Jones, Muni Long, Justin Bieber, LL, Rihanna, YK Osiris, Osiris, Riggs Morales, Kylie Jenner, He's, Tupac, Usher, Pharrell, Tyga, he's, Amber Rose Alexander Edwards, Amber Rose, Roger Kisby, Def Jam Rose, Donald Trump, Ye, Wiz Khalifa, Sebastian, Rose, urs, Rose accused Edwards, doesn't, Sonny, hadn't, Slash Electric Alexander Edwards, Elisabeth Egan Organizations: Def Jam, Sony Music, New York Times, Def Jam Records, Sony Music Publishing, Last Kings, Last Kings Records, Republican National Convention, TMZ, CBS, Slash Electric Locations: Los Angeles, England

☆ How activist Irenic can amicably build shareholder value at Reservoir Media
▼ + stars: | 2024-10-05 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Business: Reservoir Media operates a music publishing business, a recorded music business, a management business and a rights management entity in the Middle East. It operates through two segments: Music Publishing and Recorded Music. The Music Publishing segment is involved in the acquisition of interests in music catalogs, from which royalties are earned, as well as signing songwriters to agreements. The Recorded Music segment acquires sound recording catalogs and discoves recording artists, as well as markets, distributes, sells and licenses the music catalogs. After 12 years as a private company, RSVR went public in July 2021.

Persons: Joni Mitchell, Isley, Billy Strayhorn, Hoagy Carmichael, John Denver, Ali Tamposi, Jamie Hartman, Oak Felder, Steph Jones, Hans Zimmer, RSVR, Roth, Adam Rothstein, Irenic, SPACs, Khosrowshahi, Hipgnosis, Richmond Hill's, Ryan Taylor, Ken Squire Organizations: Reservoir Media, Publishing, Reservoir, Blackstone, Richmond Hill Investments, Richmond, 13D Locations: RSVR, Richmond

☆ Supreme Court rules against Warner Music in copyright damages case
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +1 min

The 6-3 ruling, authored by liberal Justice Elena Kagan, affirmed a lower court's decision that favored producer Sherman Nealy, who sued a Warner subsidiary and others in Florida federal court in 2018. Nealy has said that his label Music Specialist owns rights to the electronic dance song "Jam the Box" by Tony Butler, also known as Pretty Tony. Warner artist Flo Rida, whose given name is Tramar Dillard, incorporated elements of "Jam the Box" into his 2008 song "In the Ayer." The producer requested damages for alleged copyright infringement dating back to 2008. Circuit Court of Appeals reversed that decision and said there was "no bar to damages in a timely action."

Persons: Flo Rida, John Shearer, Elena Kagan, Sherman Nealy, Nealy, Tony Butler, Tony, Warner, Dillard, Warner Chappell, Butler Organizations: U.S, Supreme, Warner Music, Warner, Circuit, Appeals Locations: Universal City, Calif, Miami, Florida, Ayer, Atlanta

☆ Music Catalog Giant Hipgnosis Agrees to $1.4 Billion Sale to Concord
▼ + stars: | 2024-04-18 | by ( Ben Sisario | ) www.nytimes.com time to read: +1 min

Hipgnosis Songs Fund, the British company that helped kick-start the music industry’s rush for catalog deals — acquiring tens of thousands of songs by Justin Bieber, Neil Young, Shakira and others — but has seen its share price plummet, has reached a tentative deal to sell itself to Concord, a major independent music company, for $1.4 billion. Hipgnosis, which trades on the London Stock Exchange, said on Thursday that its board had given unanimous approval. But the deal still faces what could be a significant hurdle in the form of a contractual option held by an affiliated company to buy the catalog at a set price. Robert Naylor, the chairman of Hipgnosis, said in a statement: “The acquisition represents an attractive opportunity for our shareholders to immediately realize their holding at a premium, mitigating the risks we see ahead to achieving a material improvement in the share price.”Bob Valentine, the chief executive of Concord, which has a portfolio of labels like Stax and Craft, and large holdings in music publishing, added: “We believe we can integrate Hipgnosis’ catalogs into our wider portfolio of 1.2 million songs in a way that will deliver benefits for composers, performers and all our stakeholders.”

Persons: Justin Bieber, Neil Young, Shakira, Robert Naylor, Hipgnosis, Bob Valentine Organizations: London Stock Exchange, Concord, Stax Locations: British, Concord

☆ ‘It felt so wrong’: Chumbawamba wants New Zealand politician to stop playing ‘Tubthumping’ at rallies
▼ + stars: | 2024-04-03 | by ( Dhruv Tikekar | ) edition.cnn.com time to read: +8 min

But those headlines were soon eclipsed by Chumbawamba publicly condemning Peters’ use of its song. “Everything that Peters stands for is counter to Chumbawamba’s world view,” the band’s founding member and former vocalist, Dunstan Bruce, told CNN. Chumbawamba, which broke up in 2012, has asked its former record company, Sony Music Publishing, to issue a cease-and-desist letter to New Zealand First. In response to CNN’s request for comment, New Zealand First Party President Julian Paul said the party had nothing further to add. “As we rise, the dirt will start all over again,” he said during a party convention in July, according to a transcript published by New Zealand First.

Persons: Winston Peters strode, Peters, ” Peters, Chumbawamba, Dunstan Bruce, Winston Peters, Hagen Hopkins, ” Chumbawamba, “ Tubthumping, ”, Bruce, “, Peter Dungate, ” It’s, Eminem, Vivek Ramaswamy, Donald Trump, Rihanna, Pharrell Williams, Bruce Springsteen, Nigel Farage, Hutton Supancic, Julian Paul, Emmanuel Heisbourg, Heisbourg, “ tubthumping, You’re, — Peters, ‘ Organizations: CNN, New Zealand First, Labour, New, National, ACT, New Zealand, General Motors, Sony Music Publishing, APRA, NZ, New Zealand’s National Party, rapper’s, Republican, Independence Party, UKIP, Southwest, SXSW UKIP, University of Montreal Locations: Palmerston, British, Nazi Germany, New, New Zealand

☆ How Rick Beato struck YouTube gold with his ‘Everything Music’ channel
▼ + stars: | 2024-02-25 | by ( John Blake | ) edition.cnn.com time to read: +16 min

I first heard about Beato after stumbling onto his YouTube channel. During the pandemic, for example, many music fans migrated to the internet to watch various forms of music because live music was off-limits. “I still feel at 60 the same way I did when I was 14,” he said recently in a YouTube video. His face lights up when he talks about his family on his YouTube channel. “My YouTube Channel was a way to honor my parents and leave something for my kids.

Persons: Rick Beato, Instagram, Beato, ”, Pat Metheny, Sting, Jimi Hendrix, he’s, it’s, “, you’re, He’s, Rick, —, Mike Rowe, Jobs, ” Rowe, I’ve, I’m, “ Woo, Bach, Brad Mehldau, Keith Williams, Williams, ” Beato, Dick Cavett, Keith Jarrett, Jarrett, John Coltrane, Beato regaled Jarrett, awestruck, ” Jarrett, Steve Gadd, Chuck Mangione, Oscar Peterson, Music —, Nina, Dylan, Lennon, Layla, Eric Clapton, polychords, Taylor Swift’s “, Paul Allen, Everybody, Joni Mitchell, Herbie Hancock, Rick Beato's, Melissa Golden, John Blake Organizations: CNN, YouTube, Costco, Twitter, Facebook, Berklee College of Music, Eastman School of Music, Ithaca College, New, Conservatory, Music, Ithaca, Microsoft, Intelligence Locations: Atlanta , Georgia, London, Berlin, New Jersey, Fairport, Rochester , New York, Italian, New York, Ithaca, Atlanta, Silicon Valley

Admittance to Davis' event is notoriously challenging to receive. When it came time to introduce Clive Davis to the stage, actor Tom Hanks did the honors. Clive Davis, Clive Davis, Clive Davis,” he told the cheering crowd. "Clive Davis is the chef, in the kitchen, of the food of love of music, music, music. “We concentrate on the pure celebration of music,” Davis said at the start of the night — and by the end, that was evident.

Persons: Serena Williams, “, Clive Davis, Beverly Hilton, Gladys Knight, Dionne Warwick, Stevie Wonder, ” Wonder, ” Knight, Jon Platt, ”, Platt, —, Usher, Jay, Drake, Rihanna, Pharrell Williams, “ Jon, Harvey Mason, “ He's, ” Davis, Davis, Barry Manilow’s, Mandy, Smokey Robinson, Meryl Streep, Babyface, Jon Bon Jovi, Lenny Kravitz, Mariah Carey, Gayle King, Ted Danson, Shania Twain, Diane Warren, Cameron Crowe, Sammy Hagar, Cher, Jack Antonoff, Gloria Esteban, Busta, Megan Thee, David Foster, Mark Ronson, Tom Hanks, Isley, ” Mark Ronson, Andrew Wyatt, Ken, Lainey Wilson, Ryan Gosling, Noah Kahan's, Josh Groban, Treaty's Michael Trotter, Jelly Roll Organizations: ANGELES, Beverly, Warwick, “, Sony Music Publishing, ” Recording Academy, Sony, Arista Records, Spice Locations: Beverly Hills , California

☆ Sony's Neal Manowitz: As AI advances, the creative community increasingly worries about authenticity
▼ + stars: | 2023-12-31 | by ( Josée Rose | ) www.businessinsider.com time to read: +4 min

Read previewMost people are likely familiar with Sony Electronics products — they're used in music publishing, photography, movie creation, and gaming. Like many top execs, Manowitz has focused on AI this year. "There's the excitement and wonderful opportunity that we see, but there's also a fear of the unknown," Manowitz said. He added, "There's not a single hotter-button pressing the creative community than authenticity." Naturally, we're thinking about how we can use AI to be a tool for creators and how we protect their rights.

Persons: —, Neal Manowitz, Manowitz, there's, I'm, We've Organizations: Service, Sony Electronics, North America, Business Locations: North, Business, America

☆ Taylor Swift helps fuel Universal Music Group's third-quarter revenue
▼ + stars: | 2023-10-26 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

[1/2] Universal Music Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 26 (Reuters) - Cultural phenomenon Taylor Swift helped fuel revenue at Universal Music Group (UMG.AS) in the third quarter, the world's largest record label said on Thursday. Universal Music and a number of its artists also partnered with YouTube on a Music AI Incubator, to explore how to use the technology to enhance artist creativity. EBITDA for the quarter fell 11.3% to 478 million euros, reflecting the impact of non-cash share-based compensation expenses of 103 million euros during the quarter. Revenue from music publishing rose 17.5% to 491 million euros, while merchandise sales increased 20.1% to 227 million euros.

Persons: Dado Ruvic, Taylor Swift, Swift, Lucian Grainge, Grainge, we're, Morgan Wallen, Olivia Rodrigo, King, Prince, Dawn Chmielewski, Chizu Nomiyama, Jonathan Oatis Organizations: Universal, REUTERS, Universal Music, YouTube, Revenue, Thomson Locations: Los Angeles

☆ Cannabis entrepreneur rolls his fortune into real estate and sports deals
▼ + stars: | 2023-10-18 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

"A lot of professional athletes and musicians and entertainers love cannabis," Joseph said. Now, Big Plan is teaming up with cannabis retailer Silver Therapeutics to buy $35 million of marijuana-related commercial real estate in New England. Unlike most family offices, Big Plan didn't actually start with a big plan or mission. Sydni oversees business development and handles due diligence and screening for potential deals, while Sophie is president of the Joseph Family foundation. "My number one piece of advice for other family offices is get your kids involved," he said.

Persons: Josh Joseph, Joseph, CNBC's, South Joseph, He's, seltzer, we're, Josh, Tara, Sydni, Sophie, we've Organizations: Grassroots, Big, Holdings, Vegas, Broadway, Music City, NBA, Silver Therapeutics, University of Illinois Locations: Nashville, South, cannabidiol, Chicago, New England, Austin

☆ Alchemy Copyrights to buy Round Hill Music for about $469 mln
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Sept 8 (Reuters) - Alchemy Copyrights has agreed to buy music copyright-focussed investment firm Round Hill Music Royalty Fund (RHM.L) for about $468.8 million, the companies said on Friday, giving it access to songs including Backstreet Boys' "I Want It That Way". Shareholders in Round Hill Music will get $1.15 in cash per scheme share, representing a premium of about 67% to the stock's closing price on Thursday. Alchemy Copyrights, trading as Concord, is an acquirer of music rights and companies, with transactions spanning recorded music, music publishing and theatricals. Round Hill Music's portfolio of music rights comprises 51 catalogues with a collection of more than 150,000 songs, including Backstreet Boys' "I Want It That Way" and the Beatles' "She Loves You". Guernsey-based Round Hill Music has seen shares slide this past year due to inflationary pressures and a higher interest rate environment, which have impacted many listed alternative investment companies.

Persons: Yadarisa, Savio D'Souza, Sherry Jacob, Phillips Organizations: Royalty, Backstreet, Thomson Locations: Concord, Guernsey, Bengaluru

☆ R. Kelly and Universal Music Group must pay over $500,000 in music royalties to his victims, judge rules
▼ + stars: | 2023-08-25 | by ( Minyvonne Burke | ) www.cnbc.com time to read: +3 min

Disgraced musician R. Kelly and Universal Music Group must pay more than $500,000 in music royalties to his sexual abuse victims, a New York judge ruled. As part of his sentencing in the case, Kelly, Universal and Sony Music Entertainment were ordered to pay his half-million dollar debut. Universal Music Group is holding at least $567,444.19. Universal Music Group did not immediately respond to a request for comment on Friday. Kelly, 56, was found guilty in September 2021 on nine counts of sex trafficking and racketeering in a high-profile sex trafficking case.

Persons: Kelly, Ann Donnelly, Robert Sylvester Kelly, — Daniel Arkin, Adam Reiss Organizations: Universal Music Group, U.S, Eastern, of New, Universal, New, Sony Music Entertainment, Prosecutors, Sony, Universal Music, Attorney's, Hennepin County Attorney's Locations: Leighton, Chicago, New York, of New York, Brooklyn, U.S, York, Minnesota, Hennepin County

☆ Robbie Robertson, songwriting force in rock group The Band, dies at 80
▼ + stars: | 2023-08-09 | by ( Matthew Lewis | ) www.reuters.com time to read: +6 min

[1/2] Musician Robbie Robertson arrives for the gala presentation of his biopic "Once Were Brothers: Robbie Robertson and The Band" on opening night at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 5, 2019. The Band included four Canadians - Robertson, Rick Danko, Garth Hudson and Richard Manuel - and was anchored by an Arkansas drummer, Levon Helm. Robbie Robertson later learned that his biological father was a man he described as a "card shark" of Jewish heritage named Alex Klegerman, who was killed in a highway hit-and-run accident before Robertson was born. Danko died at age 55 in 1999. Helm died of throat cancer in 2012.

Persons: Robbie Robertson, Mario Anzuoni, Robertson, Jared Levine, Robbie, Rick Danko, Garth Hudson, Richard Manuel, Levon Helm, Ronnie Hawkins, Bob Dylan, Martin Scorsese's, Helm, Danko, Manuel, Greil Marcus, Eric Clapton, Elton John, Walcott, Jaime Royal Robertson, Rosemarie Dolly Chrysler, Canadian Army enlistee, Jim Robertson, Alex Klegerman, Dylan, Clapton, Joni Mitchell, Neil Young, Van Morrison, Muddy Waters, Scorsese, Jodie Foster, Hudson, Matthew Lewis, Kanishka Singh, Diane Craft, Rosalba O'Brien Organizations: Toronto, Film, REUTERS, Canadian -, Hawks, Big, Beatles, Walcott Medicine, Canadian Army, Six Nations Indian Reserve, Canadian Broadcasting, Thomson Locations: Toronto , Ontario, Canada, Canadian - American, Los Angeles, Arkansas, Woodstock , New York, San Francisco, America, Toronto, Canadian, Mohawk, Cayuga, Ontario, Florida, Chicago, Washington

June 14 (Reuters) - A group of 17 music publishers sued Twitter in Nashville, Tennessee, federal court on Wednesday, accusing the company of enabling thousands of copyright violations by allowing users to post music without a license. Twitter drives user engagement with "countless infringing copies of musical compositions," the lawsuit said. Members of the National Music Publishers' Association, including Sony Music Publishing (6758.T), BMG Rights Management and Universal Music Publishing Group (UMG.AS), are seeking more than $250 million in damages for alleged infringement of nearly 1,700 copyrights. Twitter "routinely ignores" repeat infringement by users who post tweets that contain unlicensed music, the lawsuit said. The publishers said Twitter encourages user infringement, which increases engagement and ad revenues while giving it an "unfair advantage" over platforms that pay for music licenses.

Persons: Elon Musk, David Israelite, Musk, Blake Brittain, David Bario, Richard Chang Organizations: Twitter, National Music Publishers ' Association, Sony Music Publishing, BMG Rights Management, Universal Music Publishing, Elon, Facebook, YouTube, Thomson Locations: Nashville , Tennessee, Washington

Companies Warner Music Group Corp FollowMay 16 (Reuters) - British singer-songwriter Ed Sheeran on Tuesday defeated a second copyright lawsuit in federal court in Manhattan over similarities between his hit "Thinking Out Loud" and Marvin Gaye's "Let's Get It On." Stanton presided over both cases, which concerned co-writer Ed Townsend's share of Gaye's 1973 classic. Townsend's heirs failed to convince jurors that Sheeran infringed their part of Townsend's copyright in the song. It sued Sheeran, his label Warner Music Group (WMG.O) and his music publisher Sony Music Publishing in 2018 after Townsend's heirs filed their lawsuit. Structured Asset Sales has filed another lawsuit against Sheeran based on its rights to Gaye's recording, which is still pending.

Townsend's heirs sued Sheeran for copyright infringement in 2017, contending that "Thinking Out Loud" copied the "heart" of Gaye's song including its melody, harmony and rhythm. Testifying during the trial, Sheeran denied the copyright infringement claims, telling the jury, "I find it really insulting to devote my whole life to being a performer and a songwriter and have someone diminish it." The heirs said in a court filing that they received 22% of the writer's share of Gaye's song from Townsend. I am not and will never allow myself to be a piggy bank for anyone to shake," Sheeran said after the verdict. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You."

☆ Ed Sheeran didn't steal from Marvin Gaye's 'Let's Get It On,' jury rules
▼ + stars: | 2023-05-04 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

Musician Ed Sheeran leaves federal court in New York, US, on Wednesday, May 3, 2023. A Manhattan federal jury ruled Thursday that pop star Ed Sheeran didn't infringe on the copyright of Marvin Gaye's "Let's Get It On." Upon hearing the verdict, Sheeran stood up and hugged his lawyers, according to NBC News. The plaintiffs first filed the civil suit in 2017 and alleged that Sheeran, Warner Music Group and Sony Music Publishing stole from the soul classic, violating federal copyright law. Sheeran told jurors that he composed "Thinking Out Loud" independently with British songwriter Wadge, who was not named in the lawsuit.

Companies Warner Music Group Corp FollowNEW YORK, May 3 (Reuters) - A jury will now decide whether British singer-songwriter Ed Sheeran ripped off Marvin Gaye's "Let's Get It On" after hearing closing arguments on Wednesday in a week-long copyright trial. Townsend's heirs in 2017 sued Sheeran, his label Warner Music Group (WMG.O) and his music publisher Sony Music Publishing, claiming infringement of their copyright interest in the Gaye song. Sheeran and his co-writer, Amy Wadge, both testified during the trial that they did not copy "Let's Get It On." Sheeran said he had only passing familiarity with the song and that "Thinking Out Loud" was inspired by Irish musician Van Morrison. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You."

"They independently created 'Thinking Out Loud,'" Farkas said. Farkas told the jury that these were "basic musical building blocks" that no one owns. A lawyer for the heirs was expected to give a closing argument to the jury later in the afternoon. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You." Gaye's heirs in 2015 won a lawsuit claiming the Robin Thicke and Pharrell Williams song "Blurred Lines" copied Gaye's "Got to Give It Up."

☆ Investor warns it's 'looking a lot like the tech bubble' and names 3 cheap stocks to buy outside it
▼ + stars: | 2023-04-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The S & P 500 is "supported" by just seven mega-cap tech stocks right now — and it's starting to look a lot like the 1990s tech bubble, one analyst told CNBC on Wednesday. "The S & P 500 [is being] supported by a few expensive mega cap techs," said Eric Lynch, managing director of Scharf Investments. Seven companies — Apple , Microsoft , Nvidia , Meta , Tesla , Amazon and Alphabet — account for 95% of the S & P 500's total return in the first quarter, he noted. "To us this looks a lot like the tech bubble in 1990s when tech gave the world massive outperformance over value, over mid cap small caps, international stocks," he told CNBC's " Street Signs Asia. " Stock picks Lynch named three stocks he said are cheap right now.

☆ Universal Music profit slumps due to compensation expenses
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - Universal Music Group (UMG.AS), the label representing Drake and Taylor Swift, on Wednesday posted a significant drop in core profit due to compensation expenses, even as sales edged up in the first quarter. Core profit (EBITDA) for the first quarter fell 43.4% at constant currency to 261 million euros ($288.07 million), with the metric's margin also dropping to 10.6% from 20.6% in the same quarter a year earlier. The drop was due to non-cash, share-based compensation expenses of 261 million euros during the quarter, part of a global equity compensation plan announced in the fourth quarter of last year, UMG said. UMG's CEO Lucian Grainge has come under shareholder pressure over an "excessive" $100 million pay deal, The Financial Times reported on Wednesday. The group nonetheless posted higher first quarter sales, helped by growth in recorded music and music publishing.

☆ Ed Sheeran is being sued for allegedly copying Marvin Gaye — here's where the trial stands
▼ + stars: | 2023-04-26 | by ( Stefan Sykes | ) www.cnbc.com time to read: +4 min

Musician Ed Sheeran was in court this week to deny claims that his 2014 song "Thinking Out Loud" is a copy of Marvin Gaye's 1973 classic "Let's Get it On." The high-profile copyright case was brought by the heirs of Ed Townsend, who co-wrote "Let's Get It On" with Gaye. The defense, which did not cross examine Sheeran, said he'll be back on the stand once more during the trial. Sheeran also said the 2014 concert mash-up only happened because most pop songs use a handful of similar chords. "It is my belief that most pop songs are built on building blocks that have been freely available for hundreds of years."

[1/5] Singer Ed Sheeran arrives at Manhattan Federal Court for his copyright trial in New York City, U.S., April 25, 2023. "We don't allow dancing," U.S. District Judge Louis Stanton instructed the seven-member jury. The trial is the first of three Sheeran could face from lawsuits over similarities between the two hits. Sheeran is expected to testify again later in the trial as part of the defense case. If the jury finds Sheeran liable for copyright infringement, the trial will enter a second phase to determine how much he and his labels owe in damages.

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