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| Warner Chapelle/Miramax |
Miramax films is known to have some of the most influential
and powerful movies of our time such as, Good Will Hunting, Gangs Of New York,
Sin City, and Finding Neverland. Along with these films great composers such as
Howard Leslie Shore, and Danny Elfman have written their music. Last week
Miramax and Warner Chappell reached an agreement
in which Warner Chappell will acquire Miramax’s entire master recordings.
Warner Chappell administers
Miramax’s music therefore the agreement was reached due to their longtime
acquisition. in which Warner Chappell will acquire Miramax’s entire master recordings.
With this agreement Warner Chappell owns the rights to
Miramax’s master recordings and takes on the responsibility of licensing the
newly acquired music to different media channels such as, film, TV,
commercials, radio, Internet, advertising and games.
This is a great strategic move for Warner Chappell
especially during
a challenging time for major record labels and publishers. In a time where record labels and publishers need to discover more ways to grow profits, Warner Chappell hit a grand slam with this agreement
especially since Warner Chappell will be administering music across the globe in places such as Europe and South America.
a challenging time for major record labels and publishers. In a time where record labels and publishers need to discover more ways to grow profits, Warner Chappell hit a grand slam with this agreement
especially since Warner Chappell will be administering music across the globe in places such as Europe and South America.
Miramax's Senior Vice President of Business Development and Strategy Mitzi Reaugh said in a statement
“Miramax's partnership with Warner/Chappell is the perfect example of our
strategy to collaborate with the best, and we look forward to working with
Warner/Chappell on catalog and future initiatives."
My opinion on this agreement is positive; I am relieved that
the music industry is coming together on many terms especially in music
publishing. As mentioned in my previous blogs, technological changes such as
the Internet and music products brought on unprecedented changes to the music
industry, resulting in many lawsuits and the “buying out” of multiple major
music businesses. Warner Chappell by far is setting the example to many
businesses to come and establishing a sense of understanding as to where the
future of the entertainment industry is heading.
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