UMG's takedown request turned out to be wrong, but a judge says it would only have been illegal if the label had done it intentionally.
Label and publisher stocks that soared in 2023 are mostly down this year, as some souring indicators have created uncertainty among investors.
The new arrangement covers Meta’s platforms including Facebook, Instagram, Messenger, Horizon, Threads and for the first time, WhatsApp.
The Billboard Global Music Index gained 3.1% to 1,792.93, increasing its year-to-date gain to 16.9%
In an unprecedented scenario, Universal Music Group chairman/CEO Lucian and his ascendant son Elliot will control more than a third of the U.S. market — at competing companies.
Also this week: HYBE's games division raises $80M, Believe acquires a Turkish indie label and more.
Investors reacted to the company’s overall streaming revenue growth of just 4.1%, which was down from 11% a year earlier, and a sharp slowdown in subscription growth.
Though recorded music subscription revenue grew 6.5% in the quarter, ad-supported and "other" streaming revenue declined.
Subscription revenue continued to grow, but other streaming revenue — including ad-supported streaming — declined in the quarter.
Also this week: Country Music Hall of Fame and Museum elects Jody Williams as chair and OTM Music adds new heads of U.S. sync and A&R.
