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Universal Music Group (UMG) is finishing 2023 with a bang. The world’s largest music rightsholder ended its trading day today (December 12) on the Amsterdam Euronext with its highest share price of the year to date. In fact, with a share price of EUR €25.77, UMG finished today with its largest public valuation for two years. According to Euronext data, […]

Chinese music streaming giant NetEase Cloud Music (NCM) has teamed up with Japanese music distributor SPACE SHOWER FUGA to expand its library of Japanese music. The partnership will bring a wider range of Japanese music to NCM’s user base in China. SPACE SHOWER FUGA is known for its promotion and distribution of a variety of music genres and independent

Warner Music Group has partnered with British health tech startup MediMusic to explore the potential of music as a therapeutic tool. The collaboration, which marks the record label’s first music therapy deal, aims to harness the power of music to ease  pain, anxiety and stress through clinical trials of personalized playlists, according to a press release last week (December

Music streaming services have raised concerns over the French government’s proposed tax on music streaming services. Amongst the companies slamming the new plans is Spotify, which has warned that such a move may lead to the company deprioritizing France in the future. Antoine Monin, the Director General of Spotify France, expressed his dismay, labeling the tax a

Los Angeles-based Verswire, an artist development incubator that aims to act as a “venture capital-like” music fund, has raised $12.3 million in seed and series A investment. The round was led by E.O.A. Productions and idobi Radio, with participating investors including Warped Tour Founder Kevin Lyman and Foo Fighters Tour Manager Gus Brandt. Verswire was founded last

Universal Music Group (UMG) and virtual world developer Supersocial have launched Beat Galaxy, a new music hub on gaming and metaverse platform Roblox. Universal says that the Beat Galaxy experience on Roblox is “architected” to become the “virtual epicenter” for a wide range of UMG labels and artist integrations, launching with Interscope Records artist YUNGBLUD. Each

US-based music rights investment firm GoldState Music has announced what it describes in a press release as a “significant investment” and a new partnership with funds managed by private equity Flexpoint Ford Asset Opportunities. According to the press statement, the investment and partnership will see GoldState “accelerate its strategy of investing in music intellectual property

MBW has written time and time again about the growth of the record business across the Middle East and North Africa (MENA). According to stats published by IFPI, the Middle East and North Africa was the world’s fastest-growing market in 2021, and the third-fastest-growing in 2022. Last year, MENA’s recorded music market grew 23.8% YoY, and represented the highest share

Ten months after announcing that it’s shutting down its operations, streaming service Gimme Radio has sold its e-commerce assets to entertainment commerce firm Mainfactor – and has hinted at a relaunch of its streaming platform. Philadelphia-based Mainfactor has bought Gimme Radio‘s “e-commerce-related sites and assets,” the company announced in a statement on Thursday (December 14). Gimme Radio launched