Music Business News: Europe

Universal Music revenues hit $3bn in Q3, driven by sales from superstars like Olivia Rodrigo and Taylor Swift

Universal Music Group has published its financial results for Q3 2023

PRS for Music’s latest quarterly distribution was $288.7m, its ‘largest single royalty payment’ to date

The figure represents a 13% jump compared to last year’s October distribution

Global songwriter royalty collections hit $11.35bn in 2022 – with Latin America revenues up 64.9% YoY

Publisher and songwriter royalties collected globally grew 28% YoY in 2022

Paul Burger and Andrew Wilkinson resign as Hipgnosis Songs Fund non-exec directors ahead of tomorrow’s continuation vote

The comes in the same month that HSF confirmed the Chairman of its current board, Andrew Sutch, will step down from his role

Spotify’s price hike didn’t hurt subscriptions, and 3 other things we learned on its latest earnings call

MBW listened in to SPOT's Q3 earnings call. Here's what we learned...

Peermusic acquires Arctic Rights Management – one of the largest independent music publishers in Norway

Arctic Rights Management's catalog features over 5,000 recordings and compositions

Transgressive Publishing and Warner Chappell UK extend joint venture

News arrives as Foals sign a new deal with Transgressive for their catalog, side projects and future recordings

Spotify is changing its royalty model to crush streaming fraud and introduce a minimum payment threshold. Its plan? To shift $1 billion in payouts towards ‘working artists’ over the next 5 years.

Exclusive: Music Business Worldwide has learned of Spotify's plan to introduce a number of new measures in Q1 2024 – and shift $1 billion away from bad actors