Streaming revenues surpass $20 billion for the first time, representing just under 70% of global recorded music sales.
The award to the co-chairman/COO of Warner Records will be presented this fall at the annual Spirit of Life Gala in L.A.
"It's a big step in my career as an artist and songwriter," the Colombian hitmaker said.
The Maine, Authority Zero & Summer Set among bands to headline venue during May celebration.
The company also announced a $273 million dividend and a $1 billion share repurchase program.
After declaring themselves free of their contract and moving forward with a new name, the group was hit with a legal challenge from HYBE/ADOR. Now, the issue is in the court's hands.
The Paris-based streaming platform reported 7 million euros of free cash flow after breaking even in the second half of its fiscal year 2024.
Streaming revenue accounted for 84% of the $17.7 billion generated last year.
In this week's Legal Beat, UMG hits back at Drake's defamation case, Live Nation loses an early battle with DOJ, Karol G faces infringement accusations and much more.
Stationhead Shop, an integration with Shopify, will offer data insights and fan engagement features to artists including voice drops, live streams and push notifications.
