February, 2024

Live Nation’s Q3 profits beat estimates following ‘most active summer concert season ever,’ but revenues fall 6% to $7.7bn as stadium attendance drops
The company's shares soared in overnight trading after reporting stronger-than-expected profits Source...

HYBE’s Weverse Magazine issues statement distancing itself from controversial internal document
HYBE's controversial "music industry report" was drawn up by Weverse Magazine's top editor Source...

Virgin Music Group partners with Japan’s Bushiroad Music on global anime music distribution
Virgin will provide digital distribution services for Bushiroad Music‘s content across 35 countries Source...

OpenAI just won a copyright battle brought by two news outlets. What could this mean for the music industry’s lawsuits against AI firms?
Some observers say the ruling weakens music companies' claims against AI developers, but the OpenAI case is very different from the music cases Source...

Over 8% of Tencent Music’s subscribers are ‘Super VIP’. That’s 10m users paying 5x the standard subscription price
TME added 2 million net subscribers in Q3 compared to the prior quarter (Q2) Source...

Vevo’s Artists To Watch list signals start of ‘tipping season’ – and provides unique video promo platform for new cohort of possible future stars
18 new inductees announced for watch-list that has previously given early looks at some seriously big stars Source...

Michael Rapino talks superfans, the secondary ticketing market and more on Live Nation’s Q3 earnings call
The live events company is also 'hopeful' about its antitrust fight under a Donald Trump administration Source...

Musical.AI teams up with China’s Kanjian to deliver licensed music to AI developers
Musical.AI says it has built the world’s first secure platform for rights management in AI training Source...

Spotify cruises past quarter-of-a-billion subscribers, as it eyes $1.5bn annual operating profit in 2024
Spotify’s global Premium Subscriber base grew to 252m paying users in Q3 Source...

TikTok’s SoundOn is signing artists… and battling labels on the charts.
MBW Reacts is a series of analytical commentaries from Music Business Worldwide written in response to major recent entertainment events or news stories... Source...

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