June, 2024

DistroKid to lay off 37 union workers
DistroKid estimates that it distributes 30-40% of all new music in the world Source...

CVC joins KKR in acquiring live events firm Superstruct
The news follows KKR's announcement in June that it would be acquiring Superstruct in a deal reported to be worth $1.4 billion Source...

Duetti secures fresh $114m to buy indie artist catalogs, including $80m raised through firm’s first asset-backed securitization transaction
Company, which officially launched in May 2023, says it has raised $235 million so far Source...

HYBE’s CEO just issued an apology to K-Pop artists, fans and rival labels amid a torrent of controversies from leaked internal documents. What’s going on?
Disparaging comments about certain K-pop stars have angered fans, while other revelations have piqued the interest of regulators Source...

Megan Thee Stallion joins Weverse, as HYBE revamps superfan platform to include ‘advanced translation features’ for artist posts
Megan Thee Stallion becomes the latest superstar to join the platform Source...

Chris Brown and Drake sued for at least $5m over alleged copyright infringement on ‘No Guidance’
'No Guidance' has been streamed more than 1 billion times on Spotify, and viewed more than 480 million times on YouTube Source...

Sophia Hong appointed Managing Director of Warner Chappell Music Korea
Exec will be based in Seoul and will report to Arica Ng, President of Warner Chappell Music APAC Source...

Daniel Lang elevated to SVP, Global Society Relations and Digital Rights at Warner Chappell Music
The appointment expands Lang's responsibilities to include oversight of US collection societies Source...

Court dismisses former ADOR CEO Min Hee-jin’s reinstatement bid amid HYBE leaked documents controversy
Reacting to the court's decision, K-pop giant HYBE has praised the "wise ruling" Source...

Universal’s Virgin Music Group acquires Outdustry, expanding its presence in China and India
Universal's global indie artist and label services division acquires Outdustry to focus on expansion into 'high potential markets' Source...

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