[뉴스노트] 9월 셋째 주 (9/18-9/22)

9/18/23 Mon

• NY Times: Scandal-plunged migrant service DocGo in NY; will do real-time audit; it was a no-bid contract
• Billboard: Litmus Music acquires Katy Perry’s Capitol Albums including Teenage Dreams via PE Carlyle Group LP; $225M for Perry’s stake in the master recording and music publishing royalties; Litmus co-founder Dan McCarroll used to be president of Capitol Records in 2010
• Finimize: ARM IPO debut went great; have to see how it grows, as its main market which is Smartphone is shrinking; China might get slightly better, as there was unexpected sunshine from government help and summer consumptions

9/19/23 Tues

• NY Times: Biden Aides and Saudis Explore defense treaty modeled after Asian pacts; Trying to normalize Israel-Saudi Arabia Relations; Trying to blunt Beijing’s efforts to expand influence in Middle East; Saudi led war in Yemen killed many civillians
• Billboard: 
  • Tiktok rolls out new tool to label AI generated content; Concord acquires Publishing of MOJO music, etc. (incl. 89 Billboard Hits); Concord recently bought Round Hill’s fund
  • RIAA Mid-Year report takeaways: Prices rise, subscriptions slow ($8.4B US record revenue half way this year); Ad-supported revenue flattens; Apple, Amazon, YouTube music, Spotify raised prices; Physical sales is still rising (but slower)

9/20/23 Wed

• NY Times: Fed Reserve Meeting; interest rate will stay same; analysts still project one more hike before end of the year; unemployment is okay, inflation fell a bit, consumer spending is resilient; but there is threat in gas price jump and threat to automobile supply chain due to strike
• Billboard: 
• BTS members renew contract with Big Hit, Suga started on Military Service (following Jin and J-hope); 
• Paul Williams (President of ASCAP) on protecting songwriters from AI
  • 6 guiding principles
  • Human Creator first; Transparency; Consent; Compensation; Credit; Global Consistency
  • lawmakers should stand with songwriters and not give tech companies with a government-mandated license
• BMI Sale; BMI turn to a for-profit model (October 2022); Since then, partnered with UAE to establish royalty infrastructure; trying to grow outside US
• Looking for buyer ; partnering with New Mountain Capital (helped companies grow before), has been studying music industry for past few years; while PEs focus on profit growth, buyer need to understand that payout will be prioritized too; Broadcasters own BMI and are entitled to sell it
• Finimize
  • Instacart listing; Raised $700M; since ARMS ipo, debuts look pretty good
  • OECD growth lookout underwhelming for 2024; high interest rate; fading of China’s economic renaissance 

9/21/23 Thurs

• NY Times: Jimmy carter close to his 99th birthday

9/22/23 Fri

• NY Times: Korean Elderly takes free subway to spend the day; senior poverty is double compared to Japan and US; Pension only started in 1980s