Music Business News: North America

Universal Music Publishing could become a $1bn company this year

Revenues in US dollar terms have grown 33% since 2014 under Jody Gerson

SOCAN completes acquisition of reproduction rights society SODRAC

SOCAN says deal will lead to increased efficiencies for songwriter members

Confirmed: Sony cashed in 50% of its Spotify shares for $768m earlier this year

Firm's remaining bulk of shares are currently worth in the region of $862m

Sony Corp snaps up remaining 10% stake in EMI Music Publishing from Jackson Estate

Japanese corporation is now the 100% owner of EMP... subject to regulatory approval

Official: Troy Carter is leaving Spotify in September

Exec departs after two years with Daniel Ek's company

Universal now generating over $50m every week from streaming – overall label revenues jumped 7.4% in H1 2018

Publishing revenues grew 11.1% in the period

Pharrell Williams to host Jon Platt’s Spirit Of Life Award event in October

Williams to join Platt and other stars on October 11 in Los Angeles

SoundExchange paid out $399m to artists and labels in the first half of 2018, up 17.4% year-on-year

Organization distributed over $208m to artists and labels in first half of 2018