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Believe is expanding its presence in Japan, the world’s second-largest recorded music market. The France-headquartered music company has launched a new imprint called PLAYCODE, dedicated to Japan’s hip-hop scene. The company also says it will be partnering with Japan-based acts for the new label, including ¥ellow Bucks, Red Eye, and Issei Uno Fifth. The launch of the […]

Music rights company Reservoir Media has reported a solid jump in revenue for its fiscal Q3 (calendar Q4) ended December 31, 2023, and raised its outlook for the full year. The New York-headquartered company reported revenue of USD $35.48 million for the quarter ending December 31, 2023, an increase of 14% YoY on an organic basis, or 19% YoY when including acquisitions. Over

Warner Music Group had an impressive final three months of calendar 2023, it revealed today (February 7) – with quarterly global revenues across the company increasing by 10.6% YoY on a normalized, constant currency basis to USD $1.748 billion. MBW will dig deeper into WMG’s financial performance tomorrow… because, right now, there’s a bigger story unfolding. In a memo to

Germany-headquartered live entertainment company and ticket seller CTS Eventim continued its strong comeback in 2023, exceeding its own forecasts with a 22.5% jump in revenue to reach a record EUR €2.359 billion (USD $2.54 billion at current exchange rates), from €1.926 billion in 2022. The growth was fueled by robust performances in both its ticketing and live

Spotify‘s largest shareholder, co-founder and CEO Daniel Ek, sold 250,000 shares of the company’s stock on Wednesday (February 7) for USD $57.5 million. The development comes as the streaming giant posted strong financials for the fourth quarter of 2023. Ek, known for not taking an annual salary from Spotify, held 31.93 million ordinary shares, representing 16.5% of the company, by

It’s official: New Mountain Capital has completed its acquisition of US performing rights organization, Broadcast Music, Inc. (BMI). NMC, which has over USD $45 billion in assets under management, confirmed in November that it will “lead a shareholder group” to acquire a majority stake in BMI. The NMC transaction was subject to approval by BMI shareholders and customary regulatory

A potential major roadblock to the sale of performance rights organization BMI was cleared, after a US court agreed to a dispute settlement between BMI, its new owners and financially troubled radio/podcast company Audacy. Philadelphia-headquartered Audacy, the US’s second-largest radio station owner by revenue, which is in the midst of bankruptcy proceedings, had threatened to file a

Shareholders in UK-listed Hipgnosis Songs Fund (HSF) have overwhelmingly voted in favor of paying companies who make credible acquisition bids for the firm’s catalog a one-off incentive fee of up to £20 million. Some 99.9% of HSF shareholders today (February 7) approved a proposal put forward by the company’s board for the ‘bung’ payment. This could result in multiple companies each

Tom March has been appointed Chairman & CEO of Capitol Music Group (CMG). The news was announced on Wednesday (February 7) by Interscope Geffen A&M Records (IGA) Chairman & CEO John Janick, to whom March reports. In his new position, March is responsible for the overall management and direction of the company, which encompasses Capitol Records, Blue Note