February, 2024

atVenu, a live event commerce and music merch sales platform, secures $130m equity investment from Sixth Street Growth
News arrives amid the investment world's continued interest in the live events space Source...

Universal Music sues Chili’s restaurant chain owner over alleged copyright infringement in social media ads
The restaurant chain's owner Brinker reported $4.42 billion in revenue for the fiscal year ended June 26, 2024 Source...

In key markets outside the US, TikTok’s revenues soared 75% to $4.6bn last year, but losses widened amid $1bn in legal costs
TikTok's massive increase in European, LatAm and African revenue was more than offset by a sharp spike in expenses Source...

Spotify launches Free tier in South Korea
Spotify launched in South Korea in February 2021 without its ad-supported tier Source...

Warner Music Group acquires Amsterdam-based label Cloud 9 Recordings
Cloud 9 Co-founder Raymond van Vliet to remain as President of Cloud 9 Recordings Source...

‘Works for hire’? Jury trial to decide if 2 Live Crew’s members, heirs have any right to its music
2 Live Crew's members and their heirs are fighting to take back the recording copyrights on the 1980s rap band's music Source...

Reservoir acquires producer royalties of Grammy winner Jack Douglas
The acquisition includes hits by Aerosmith and Cheap Trick Source...

Latin Music generated $685m in US recorded music revenues in the first half of 2024 – up 7% YoY
The Recording Industry Association of America (RIAA) has published its mid-year 2024 Latin Music Revenue Report Source...

Downtown’s FUGA expands in ANZ region via new deal with Australia’s UNIFIED Music Group
Partnership will bolster UNIFIED’s distribution and marketing capabilities, and provide neighbouring rights services Source...

Africa-focused streaming service Mdundo hits 37.8m monthly active users, as paid subscription revenue jumps 112% in local currency terms
The company reported a revenue decline in fiscal 2023/24, amid weakness in African currencies Source...

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