February, 2024

BMG revenues hit $496m in H1 2024, up 12.5% YoY on organic basis
Thomas Coesfeld's changes to BMG had a clear effect on company's profit profile in H1 2024 period Source...

The Other Songs partners with Universal Music Publishing Group; signs global deal with British singer/songwriter Bruno Major
Bruno Major named as the 'first marquee signing' via the new arrangement with UMPG Source...

‘Premium experience platform’ Seat Unique raises $19m in extended funding round
Seat Unique is currently offering VIP tickets and hospitality packages for Billie Eilish, Taylor Swift, and the recently reunited Oasis Source...

Beggars Group is now a £100m+ annual revenue company
Nevertheless, the record company has seen its operating profit slide amid rising costs Source...

Bill Ackman unworried by Universal Music Group subscription revenue blip
Wall Street analysts were disappointed that UMG's subscription streaming revenues 'only' grew 6.9% YoY in the quarter Source...

‘Operation Redirect’: Brazil cracks down on music piracy sites spreading malware
IFPI and Pro-Música Brasil collaborated with law enforcement to take down 12 piracy sites that were also spreading malware Source...

AEG and Onex complete sale of ASM Global to live events company Legends
The merger creates what Legends describes as “the world’s preeminent premium live events company" Source...

Turntable Labs raises $8.2m to launch social music streaming platform Hangout
The latest financial boost comes as the company prepares to publicly launch Hangout later this year Source...

Paid streaming subscriptions grew just 2.7% YoY in the US in H1 2024 – but overall market revenue topped $8.6bn
The RIAA has published its new midyear report for the United States Source...

This analyst has watched Universal Music Group closely for years (and hasn’t always been mega-positive). He just upgraded UMG’s stock for the second time in 12 months.
William Packer of BNP Paribas Exane has upgraded UMG's stock in the wake of downgrades by other analysts Source...

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