Nashville has always been known for songs. Increasingly, however, some of the biggest developments in Music City are happening beyond the writing rooms and recording studios.
Major corporate combinations, publishing acquisitions, artist signings and new investment in Tennessee’s music infrastructure are strengthening Nashville’s position as a center for the business of music, not simply the creation of it.
A Global Music Headquarters in Nashville
One of the biggest developments came September 1, when BMG and Concord completed their combination, creating a music company spanning recorded music, publishing, theatrical rights, digital distribution, film and television.
The combined company operates under the BMG name and represents more than four million works. Bob Valentine, formerly CEO of Concord, is now CEO of BMG, while Thomas Coesfeld serves as chairman.
Perhaps the most significant detail for Music City is its headquarters.
Nashville is now the global headquarters of BMG, with Berlin serving as its European headquarters.
That is considerably different from another major music company simply maintaining a Nashville office. It places the center of a large international music operation in a city historically associated primarily with country music, songwriting and publishing.
Music Rights Continue to Drive Business
Publishing is also contributing to the changing Nashville landscape.
Earlier this year, Sony Music Publishing Nashville acquired independent publisher Big Yellow Dog Music, bringing a catalog associated with songs recorded by artists including Meghan Trainor, Maren Morris, Kacey Musgraves, Chris Stapleton, Sabrina Carpenter and Hozier into its operation.
New publishing agreements continue across Music Row as well. Midland recently renewed its global publishing agreement with Warner Chappell Music Nashville, while Jeremy Lister signed a global publishing agreement with Jody Williams Songs and Warner Chappell.
These deals underscore how valuable the business behind the song has become. Catalog ownership, administration, licensing and intellectual property are now central pieces of an industry in which a song can generate value across streaming, recordings, film, television, advertising, social media, gaming and emerging technology.
Independent Nashville companies are expanding as well. Melody Place recently strengthened its leadership team with new executives overseeing promotion, commercial partnerships and marketing, while Centricity Music signed Rachael Lampa to a worldwide recording and publishing agreement.
Tennessee Is Looking Ahead
The state is also taking a broader look at the future of its music economy.
Tennessee recently established the Tennessee Music Advisory Council, designed to examine economic opportunities, professional development, networking, accessible spaces and other issues affecting the state’s music ecosystem.
That ecosystem reaches far beyond artists and labels. Nashville’s music economy includes songwriters, publishers, producers, studios, managers, touring professionals, venues, manufacturers, distributors, technology companies and a growing number of businesses developing new ways to monetize and experience music.
Nashville is changing alongside the industry itself. Music companies are consolidating, catalogs have become valuable financial assets, technology is changing distribution and fan engagement, and the lines between record companies, publishers, technology platforms and direct-to-fan businesses continue to evolve.
The BMG-Concord combination may be one of the clearest signals of that transformation.
A global music company operating across major markets around the world now calls Nashville its headquarters.
Music City is still a place where songs are written and records are made. Increasingly, it is also becoming a place where the business surrounding those songs is being built.
Sources & Supporting Information
BMG: BMG and Concord Complete Combination
BMG announcement
MusicRow: Sony Music Publishing Acquires Big Yellow Dog Music
MusicRow coverage
MusicRow: Nashville publishing, artist and industry developments
MusicRow coverage
Axios Nashville: Tennessee Creates Advisory Council to Strengthen State Music Ecosystem
Axios Nashville coverage