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Las Vegas Sphere drove Sphere Entertainment’s Q2 revenues up 11% to $314M; operating loss ballooned 22%
The Sphere segment, which runs the Las Vegas venue, generated revenues of $226.4 million, up $50.8 million, or 29%, year-over-year. Source...

Universal has sold a chunk of Spotify stock for around $467M. Artists will likely be paid over $100M of it.
Per MBW's calculations, UMG artists could be in line for approximately $131 million of the money. Source...

Spotify says it doesn’t need deals with all the majors to launch its AI covers and remixes tool
Comments landed hours after Spotify announced a licensing agreement with Merlin Source...

Vetter Gave Artists the World. Getting It Back May Be Harder Than It Sounds.
The following MBW op/ed comes from Reed Smith LLP's Nick Breen and Joshua Love Source...

The EU AI Act’s rules on AI content labeling and training are now law and enforceable. Here’s what they mean for the music business.
The European Union's rules requiring AI-generated content to be labeled took effect on Sunday (August 2). Source...

Stephanie Yu promoted to General Counsel and Executive Vice President, Business and Legal Affairs at Sony Music
Yu will be responsible for overseeing the business, legal, and governmental affairs strategies and activities for the company globally. Source...

After Cox ruling, record labels offer to walk away from Grande piracy case – but clash with ISP over $4m in bond costs
Grande asked the court to "render judgment in favor of Grande," arguing that the labels cannot prove contributory infringement under the standard set by Cox. Source...

Spotify hits 300m Premium subscribers in Q2, adding 7m, as streamer posts $762m operating profit
Spotify's total Monthly Active Users, which combine paying users and ad-supported users, reached 777 million Source...

The music industry has priced a customer it cannot find
The following MBW op/ed comes from Mag Rodriguez, Founder/CEO of EVEN. Source...

Merlin signs Spotify licensing deal for AI-powered ‘fan-made’ covers and remixes
The tool will let fans create covers and remixes of songs from participating Merlin members' artists and songwriters. Source...

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