Sir Elton John, Coldplay and other artists also signed the open letter urging stronger support for music education in state schools.
The company plans to double its investment in its electronic music management division, with CEO and founder Lucas Keller predicting "another large acceleration" for the genre.
"With Concord’s backing, we gain more fuel for the engine and a global team to help us scale," says Stem's CEO.
The Chinese streaming company gained 11.6% as the 20-company Billboard Global Music Index rose 3.0% to 2,533.53.
Also in Canadian music news this week, the IFPI Global Report touts revenue growth in the market and the Canadian Country Music Association adds a new category.
The trio of reports revealed continued subscription growth but smaller improvements than in previous years as the major labels increasingly look to small and developing markets.
With Brazil at No. 9, 2024 marks the first year two Latin American countries appear in the top 10 of IFPI's rankings, which are based on recorded music revenue.
Itay Kashti thought it was another songwriting job in a long career full of them. What happened next could have claimed his life.
The team was formed to “enact and amplify the company’s vision for positive change through community engagement, environmental sustainability, events and special projects."
Why president Nicole Barsalona says that with the employee study, the group has to “take the lead in prioritizing diversity in leadership as much as the diversity of the music we represent."
