Music Business News: Germany

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Native Instruments acquired by investment firm Francisco Partners

Company employs more than 400 staff throughout seven offices worldwide

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SoundCloud inks deal with AdsWizz for exclusive ad sales representation in 14 European markets

AdsWizz Marketplace reaches over 100m unique devices globally every month

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Germany generated 139bn music streams during COVID-hit 2020, nearly a third more than in 2019

New report from GfK Entertainment and BVMI sheds light on the markets streaming figures

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BMG publishes results of historic royalties review, pledges action and invites other labels to probe for evidence of racial disadvantage

The initiative has been welcomed by the Black Music Action Coalition

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Jean-Sebastien Permal named Director of A&R, Continental Europe and Africa at Sony Music Entertainment

Permal will help drive the company’s A&R strategy across the region

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SoundCloud boss Kerry Trainor to step down; Mike Weissman will become CEO in January

SoundCloud's future expansion under Weissman will partly be fuelled by a $75m investment in the company from SiriusXM in Q1 this year

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BMG acquires Cheyenne Records catalog including music by Germany’s most successful girl group No Angels

Catalog contains more than 600 master recordings

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SoundCloud’s revenues jumped 37% to $166m in 2019 – and it’s just posted its first ever profitable quarter

Firm's $10m-plus acquisition of Repost Network last year appears to be paying off