News Spotify cuts 200 jobs as it restructures its podcast division Layoffs represent about 2% of the company’s total workforce
News Members of K-pop group EXO move to end ‘unjust long-term contracts’ with SM Entertainment (report) A statement released by law firm Lin on Thursday (June 1) detailed the artists' intention to end their deals with the K-Pop company
News Reservoir aims to become the ‘largest holder of Arabic music copyrights…’ and 3 other things we learned on the company’s latest earnings call Music rights company Reservoir Media published its FY fiscal 2023 results this week
News Cutting Edge strikes eight-figure deal with pop songwriter and producer Jamie Hartman Hartman has written or co-written hits for artists such as Lewis Capaldi, Celeste, Calvin Harris, Rag’n’Bone Man and the Backstreet Boys
News Universal hit with lawsuit over sample used in Migos’ ‘Narcos’ Suit was filed by Florida-based Keep On Kicking Music
News ByteDance expands responsibility of TikTok CEO Shou Zi Chew to include its Instagram rival Lemon8 (report) ByteDance is putting another of its apps, Lemon8, 'under Chew’s supervision', according to a report from The Information
News 100+ CEOs and scientists, including ChatGPT boss Sam Altman, warn of ‘risk of extinction’ from future AI systems AI experts issue statement warning about the potential dangers of advanced artificial intelligence
Analysis News Live Nation President and CFO talks AI, ticketing legislation and TikTok at J.P. Morgan conference Live Nation President and CFO Joe Bertold was interviewed at the J.P. Morgan Global Technology, Media and Communications Conference this week
News CISAC reports ‘sharp’ rise in collections in Greece and global music identifier system progress in annual report International Confederation of Societies of Authors and Composers (CISAC) has published its latest annual report
News Music distributor Alliance Entertainment posts calendar Q1 revenues of $227.7m, down 29% YoY Alliance completed a $480m SPAC merger in Q1
Analysis News Rob Stringer says music streaming fraud ‘is a problem that must be eliminated’, calls for better payouts from short-form video platforms Sony Music Group Chairman covers various key industry topics in presentation to Sony Corp investors
News Having raised $80m to date, creator agency Talenthouse alerts investors to ‘critical financial situation’ Talenthouse trades on the SIX Swiss stock exchange
News Warner CFO Eric Levin: music streaming business is ready for recurring price increases Exec discussed streaming prices during a Q&A session at JPMorgan’s Global Technology, Media and Communications Conference on May 22
Analysis It owns a chunk of both Warner Music Group and Universal Music Group. But what is Fidelity Investments? Fidelity’s holdings of approximately 54.8 million shares of UMG is currently around €1.05 billion ($1.14 billion)
News Apple restricts employees from using ChatGPT (report) Apple is concerned that employees using AI apps is a risk to data security, the WSJ reported