{"id":125452,"date":"2022-02-23T17:21:10","date_gmt":"2022-02-23T17:21:10","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=125452"},"modified":"2022-02-23T17:45:30","modified_gmt":"2022-02-23T17:45:30","slug":"now-sony-music-gets-clearance-for-255m-som-livre-acquisition-in-brazil","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/now-sony-music-gets-clearance-for-255m-som-livre-acquisition-in-brazil\/","title":{"rendered":"Now Sony Music gets clearance for $255m Som Livre acquisition in Brazil"},"content":{"rendered":"

What a month it’s been for Sony Music Group.<\/p>\n

In early February, the company’s parent \u2013 Sony Corp \u2013 revealed that its global recorded music and music publishing entities generated approximately $7.5 billion<\/a> in calendar 2021. According to MBW’s calculations, that number was up by no less than $1.4 billion year-on-year.<\/p>\n

Two weeks later, the UK’s Competition and Markets Authority (CMA) gave the provisional green light<\/a> to Sony’s $430 million acquisition of AWAL from Kobalt Music Group.<\/p>\n

Today (February 23), more massive news: MBW has confirmed that Brazil’s equivalent competition watchdog, CADE (Conselho Administrativo de Defesa Econ\u00f4mica), has given approval to Sony Music’s acquisition of Som Livre, owner of Brazil’s biggest domestic record label.<\/p>\n

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The acquisition will significantly stretch Sony Music’s lead as the largest recorded music company in Brazil, our sources tell us.<\/p>\n

Prior to the acquisition, Som Livre was understood to be Brazil’s third biggest recorded music company overall by market share, behind Sony and Universal.<\/p>\n

In addition to Som Livre’s record label, Sony Music is also acquiring the firm’s sister music publishing and live events operations.<\/p>\n

Sony initially announced<\/a> its acquisition of Som Livre \u2013 from prior owner Globo Comunica\u00e7\u00e3o E Participa\u00e7\u00f5es \u2013 in April last year.<\/p>\n

The price of the deal was revealed to be BRL 1.438 billion, which converted to approximately USD $255 million at the time.<\/p>\n

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Speaking as part of that announcement, Rob Stringer, Chairman of Sony Music Group said: “We are delighted to be investing in Som Livre and expanding our existing relationship with this special company.<\/p>\n

“Brazil is one of the most dynamic and competitive growing music markets in the world and we will provide huge opportunities for creators through our shared vision.\u201d<\/p>\n

Confirming today’s story, a Sony Music spokesperson commented: “We welcome today\u2019s conclusion of the approval process from CADE of Sony Music Entertainment\u2019s acquisition of Som Livre.<\/p>\n

“Som Livre\u2019s roster of artists and songwriters, as well as employees, will now benefit from Sony Music\u2019s global network of resources and partnerships, offering greater worldwide reach for Brazil\u2019s creative community.\u201d<\/p>\n

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Som Livre’s catalog includes the music of Brazilian superstar Marilia Mendon\u00e7a, who tragically died in a plane crash<\/a> in November 2021.<\/p>\n

Other major Brazilian artists who have signed to Som Livre include Jorge & Mateus, Wesley Safad\u00e3o, and Lexa \u2013 plus rising stars such as Israel & Rodolffo, Dudu MC, Filipe Ret and Grupo Menos \u00e9 Mais.<\/p>\n

Brazil was the 11th biggest recorded music market in the world in 2020 according to the IFPI.<\/p>\n

The country generated $306.4 million of recorded music trade revenues that year, up 24.5% versus 2019.<\/p>\n

Streaming claims more than 80% of the recorded music revenues generated in Brazil annually, according to the IFPI numbers.<\/p>\n","protected":false},"excerpt":{"rendered":"

MBW confirms that Brazil’s CADE has given the green light<\/p>\n","protected":false},"author":3,"featured_media":125457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-125452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/125452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=125452"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/125452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/125457"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=125452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=125452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=125452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}