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A few weeks ago, Utopia Music said it was aiming for a “fresh start” with its rebrand to Proper Group – now it’s looking for €6 million (approx $6.4m) from its shareholders. At the end of March, news broke that the Switzerland-born music company was planning to change its name to Proper Group, and asked its shareholders […]

Taylor Swift’s new album, The Tortured Poets Department, broke multiple Spotify records in less than 24 Hours. Less than 12 hours after release on Friday (April 19, 2024), it became the most-streamed album in a single day in 2024 so far. The album then became the first album in Spotify history to cross the 200 million and 300 million stream mark in a single

The US Department of Justice is reportedly preparing an antitrust lawsuit against Live Nation, a move that could have major repercussions for the company’s ticketing arm, Ticketmaster. The suit is expected to be filed as soon as next month, The Wall Street Journal reported Monday (April 15), citing people familiar with the matter. The department will likely accuse Live

European festival organizer Superstruct Entertainment is attracting the attention of major private equity firms, with Blackstone and CVC reportedly considering bids. This potential sale could value the company, known for events like Spain’s Sonar and the Netherlands’ Mysteryland, at GBP £1.5 billion ($1.87 billion), Reuters reported Thursday (April 11), citing “several sources with knowledge of the situation.” The resurgence of live music festivals

Africa-focused music streaming service Mdundo has reported a 41% YoY jump in monthly active users (MAUs), but its revenues have come in short of forecasts due to a currency crisis in Nigeria. Mdundo, which is listed on the Danish stock exchange and reports earnings in Danish kroner, said it’s targeting revenue of DKK 12 million to 14 million (USD

TikTok has entered into a new partnership with ticketing company AXS. Fans can now discover and buy tickets for events through AXS directly within the TikTok platform. Plus, any Certified Artist on TikTok can use the in-app ticketing feature to promote their AXS live dates in the app by adding their AXS event links to their

Remember when Concord bought Round Hill Music‘s assets off the UK stock exchange for USD $469 million in November? The US company is now looking to pull off a similar acquisition, this time for the song portfolio of another UK-listed entity – Hipgnosis Songs Fund. The HSF board has this morning (April 18) notified shareholders that Concord has made a cash

Financially troubled social media app and TikTok competitor Triller is merging with a Hong Kong financial services company to create a $4 billion company that will have its hands in social video, content generation, wealth management, and fintech. The move could help Triller overcome recent financial difficulties and compete with TikTok at a time when the ByteDance-owned short

In 2022, the Copyright Royalty Board (CRB) accepted a (near) music industry-wide settlement to improve songwriters’ streaming royalty rates in the United States from January 1, 2023. The settlement – known as ‘Phonorecords IV’ or ‘CRB IV’ – will see songwriters and music publishers paid a headline rate of 15.35% of a given interactive streaming service’s US revenue by 2027.

The issue of modified audio – digital music that has been sped up, slowed down or otherwise altered – is increasingly on the radar of music companies, given the lost revenue these types of tracks represent. According to recent research from Pex, a company that tracks and analyzes content on digital music services, there are over a million