Music Business News: North America

Splice acquires Spitfire Audio for a reported $50m as it bets on AI music creation

Splice was valued at nearly USD $500m in 2021 after securing $55m in funding

From Warner’s Crumbl copyright lawsuit to the EU’s Downtown deal probe… it’s MBW’s Weekly Round-Up

The biggest stories from the past week – all in one place…

HYBE teams up with Spanish-language TV giant Telemundo on ‘first-of-its-kind’ competition and reality show to form a Regional Mexican group

Members of the winning group will win $100,000 and a recording contract with HYBE Latin America

Universal Music Group Nashville rebrands as Music Corporation of America

Mike Harris to Lead as President & CEO, and Dave Cobb as Chief Creative Officer

Hannah Thompson-Waitt promoted to SVP, Commercial Strategy, at Virgin Music Group

Exec previously served as Vice President of Commercial Strategy

Meta launches Edits, a rival to TikTok parent-owned CapCut, with plans for expanded music options, including ‘royalty-free’

App is available on both iOS and Android

Cookie giant Crumbl, reportedly eyeing $2bn sale, sued by Warner Music Group over ‘massive scale’ copyright infringement in TikTok posts

WMG has sued US cookie chain Crumbl, alleging that it built its business through “blatant, willful, and repeated copyright infringement.”

Nicole George-Middleton promoted to EVP & Head of Creative Membership at ASCAP

Most recently, George-Middleton held the positions of SVP of Membership as well as Executive Director of The ASCAP Foundation