News HYBE generated record quarterly revenue of $465m in calendar Q2 South Korea-headquartered entertainment giant HYBE has published its financial results for Q2 2024
News US Justice Department ramps up TikTok scrutiny with lawsuit over alleged children’s privacy law violations DOJ lawsuit was filed in conjunction with the Federal Trade Commission
News TikTok drops Lite ‘Rewards’ program in EU Decision comes just months after the launch of TikTok Lite Rewards in Spain and France
News Spotify to sublease 103K square-feet of NYC HQ to StubHub (report) Spotify has been gradually reducing its office space
News Damon Dash’s 33% stake in Roc-A-Fella Records to go up for auction for at least $1.2m (report) Label was founded in 1994 by Jay-Z, Damon Dash, and Kareem “Biggs” Burke,
News Beatchain and Radio City India to launch ‘Muzartdisco’ independent artist discovery platform Muzartdisco will be powered by Beatchain’s white-label technology
News Roblox revenue up 31% in Q2 to $893m as Daily Active Users hit record 79.5m; CFO exits Gaming giant Roblox has posted its financial results for the three months to the end of June
News IMPEL secures global licensing reach with amra deal for APAC and Brazil deal with amra includes Australia, New Zealand, South East Asian territories and Brazil
News Dance music brand fabric taps Believe UK’s b:electronic imprint for global services The collaboration will see fabric’s music distributed through Believe’s b:electronic imprint, a dedicated platform for electronic music
News Bill Ackman’s Pershing Square USA withdraws IPO, citing investor uncertainty Ackman had significantly reduced the price target for his US-based closed-end fund, before pulling out of the IPO altogether
News Rimas Publishing teams up with Chile-based Wild Company to discover artists in the market Together, the two companies will provide A&R services in the Chilean market
News Spotify backtracks on lyrics restriction, expands access for free users Spotify started limiting access to lyrics for ad-supported users last fall, but appears to have backed off from that idea
News Live Nation’s revenue rises 7% to record $6B in Q2 as fan attendance hits 39M “We continue to see strong demand globally, with a growing variety of shows attracting both casual and diehard fans who are buying tickets at all price points"
News Wasserman doubles down on M&A, bringing in private equity exec Steve Murray to lead acquisitions strategy Exec joins from Providence Equity Partners, where he was instrumental in helping Wasserman complete M&A deals
News Ralph Kink named head of digital transformation at GEMA "Digitalization and now generative AI are turning the music industry upside down. The tasks that GEMA faces are huge."