News Guy Oseary and Ashton Kutcher-led Sound Ventures launches $240m artificial intelligence investment fund Fund's first three investments were in Anthropic, StabilityAI and ChatGPT developer OpenAI
News Pandora’s monthly user base fell beneath 47m in Q1, as parent SiriusXM saw revenues dip 2% YoY SiriusXM has been struggling to retain Pandora’s user base since its $3.5 billion all-stock acquisition of the streaming company in late 2018
News Clubhouse to lay off over 50% of staff amid ‘resetting’ of live audio app The layoffs were revealed by Clubhouse founders Paul Davison and Rohan Seth in an email to staff that was made public on Thursday (April 27).
Analysis News Tencent Music’s independent artist platform reached 390,000 musicians at the end of 2022, adding 40,000 in Q4 alone Tencent Music Entertainment has published its Annual Report for 2022
News Microsoft’s $69bn takeover of Activision Blizzard blocked by UK regulator over cloud gaming concerns The UK’s antitrust regulator has blocked Microsoft’s proposed acquisition of gaming giant Activision Blizzard
News Sony Music Entertainment UK relaunches Epic Records in the UK, led by Sarah Lockhart Epic Records UK will operate alongside other Sony Music labels in the UK including RCA, Columbia, and Ministry of Sound
News TuneCore and Beatport strike partnership to extend self-releasing artists’ reach to DJs, dance music producers Tunecore artists using Unlimited distribution plans will be able to send their music to the Beatport platform for an add-on fee of $7.99 a month
News Peter Gabriel and Chris Stapleton weigh in on debate around the use of generative AI in music Two prominent artists chime in on the controversy around AI-generated music
News The Gap Band heirs drop lawsuit against BMG over ‘Uptown Funk’ royalties The case was dismissed "without prejudice" in Manhattan Federal court on April 18
News Italy’s competition watchdog orders Meta to resume negotiations with collecting society SIAE Italy’s competition watchdog has taken interim measures against Facebook Meta over a dispute with songwriter licensing body SIAE
News UK-listed Round Hill Music Royalty Fund posts 32% YOY revenue jump to $32.4m in 2022 Fund has invested in over 120,000 songs across 51 catalogs
News Blackstone-owned production music house Audio Network buys Latin Music company Voodoo Tracks Deal marks company's first-ever acquisition of a music catalog
News Warner Music Singapore inks global distribution deal with Cross Ratio Entertainment Companies to work closely on new releases, catalogs, brand partnerships and more
News Songwriter Louis Bell sets new RIAA record with 8 Diamond-certified singles Louis Bell becomes first songwriter to achieve eight RIAA Diamond-certified singles, six of which he created in collaboration with Post Malone
News Sony Music reportedly in talks to buy stake in Bad Bunny’s label and management firm, Rimas Sony Music reportedly negotiating a deal to help Rimas CEO Noah Assad buy out his partner, Rafael Ricardo Jiménez Dan