Music Business News: United States

Stem raises $250m from Victory Park Capital to expand artist advances

News arrives more than a year after Stem raised $20 million in a new round of funding

Metaverse studio Karta receives $1.1m funding from music and gaming industry players

Karta has delivered projects on platforms like Roblox, Fortnite, and Decentraland

Sarah Silverman sues OpenAI and Meta over alleged copyright infringement in AI training

Silverman is one of three book authors suing OpenAI and Meta

Universal launches The Core Records label venture led by Kevin ‘Chief’ Zaruk and Simon Tikhman

The venture will sign and develop new artists

Peloton paid the record industry more than TikTok last year, says Goldman Sachs (and 3 more revelations from financial giant’s latest ‘Music In The Air’ paper)

MBW combs through the latest iteration of one of music's most influential financial reports

Faryal Khan-Thompson named SVP of Marketing and Community Engagement at CD Baby

Khan-Thompson joins from TuneCore where she served as VP, International

Cindy Rampersaud joins Hipgnosis Songs Fund board as Independent Non-Executive Director

Exec has held senior executive roles at Virgin, Warner Brothers, EMI and more

Warner Records forms joint venture with music industry veteran Marc Byers’ label, Protect the Culture

Lord Afrixana is the first artist on the label