Music Business News: Europe

The 3 major music companies are now jointly generating approximately $2.9m per hour

With $6.2 billion in revenue secured in Q1, can the majors now go on to jointly top $25 billion in annual revenue in 2023?

European lawmakers close to launching ‘world’s first rules’ on artificial intelligence

Under the draft mandate, AI systems with “an unacceptable level of risk to people’s safety” would be strictly banned

Music by Italian songwriters returns to Facebook and Instagram after ‘transitional’ deal with Meta

Music represented by SIAE, the main collecting society for tens of thousands of songwriters in Italy, returns to Meta platforms

Annual revenues at UK collection society PRS For Music topped $1.1bn in 2022

PRS welcomed almost 7,000 new writer, composer and publisher members in 2022

Revenues at UK licensing org, PPL, hit record high in 2022, up 7.8% to £272.6m

It was the highest level of revenue in the company’s 89-year history

Save the date: The A&R Awards in association with Abbey Road Studios will return to London on Tuesday, November 7

If you love the UK music industry, we have a date for your diary...

Sir Lucian Grainge remuneration package approved by Universal Music Group shareholders

Sir Lucian Grainge has also been re-appointed as UMG's Executive Director (a position he holds in addition to being the company's Chairman and CEO) for five more years

Kirsty McDonagh named Senior Manager at Various Artists Management

McDonagh joins Various Artists from Insanity Group