English-language hits used to dominate. In the current streaming era, they're being replaced by artists performing in local languages.
The performance rights organization said its new-model goal is to distribute 85% of the licensing revenue it collects to songwriters and publishers.
The company joins a technology giant that owns Square, Cash App and music streaming platform Tidal.
That includes 29 catalogs worth $440 million that the London-listed fund's board has agreed to sell to the Blackstone-backed Hipgnosis Songs Capital.
The Billboard Global Music Index rose 4.7% as 12 of its 21 stocks posted gains this week.
Publishing accounted for 62% of BMG's overall take, driven by classic hits and songs by new artists like Lewis Capaldi.
With just two of its 21 stocks in positive territory, the Billboard Global Music Index fell 3%.
For the first time since its 2016 founding, music contributed more revenue than social entertainment at TME.
With physical sales down 2%, streaming grew its total recorded music revenue share to 69% on the quarter.
Recorded music revenue rose nearly 8%, thanks to a strong slate of releases led by Ed Sheeran, Linkin Park and Melanie Martinez.
