Analysis News Warner Music Group generated $1.55bn in calendar Q2; subscription streaming revenues rose 13.7% YoY Warner Music Group has published its financial results for the three months ended June 30, 2024 (calendar Q2 – the company’s fiscal Q3)
News Julie Greenwald to exit Atlantic Music Group in January News arrives days after Warner Music Group announced a major leadership shakeup in its recorded music operation
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
Analysis News Sony generated $2.54bn from recorded music and publishing in calendar Q2, up 11.4% YoY; recorded music streaming revenues up 5.0% YoY Recorded music up 10.8% YoY; music publishing up 13.3% YoY
Analysis News On… the delicate power balance between Spotify and Universal Music Group (and why UMG might end up turning the screw on Spotify’s free tier). It's a complicated relationship – in which both parties need each other.
News The MLC partners with Beatdapp for streaming fraud detection services Beatdapp announced a $17m funding round in January
News Believe fully acquires Doğan Music Company, claimed to be Turkey’s largest independent label, after buying remaining 40% stake for $42m Believe struck an initial deal with DMC in 2020 to acquire a 60% stake in the label
News Universal Music strikes strategic agreement with AI startup ProRata, which just raised $25m for a chatbot and tech to attribute and compensate content owners ProRata.ai has invented tech that it claims enables gen AI platforms to accurately attribute and share revenues on a per-use basis with content owners
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
Analysis News In case you missed it… HYBE, the company behind superstars BTS and Seventeen, just launched a label services business in the US MBW Explains is a series of analytical features in which we explore the context behind major music industry talking points
News As Suno and Udio admit training AI with unlicensed music, record industry says: ‘There’s nothing fair about stealing an artist’s life’s work.’ Suno and Udio suggest that the record companies may have themselves violated music publishing copyrights
News Punjabi music star AP Dhillon strikes deal with Republic Records Republic Records has signed AP Dhillon in alliance with Universal Music Canada
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,