The Billboard Global Music Index rose 6.8% to 1,447.32, bringing the year-to-date gain to 23.9%.
The Billboard Global Music Index dropped 3.5% with 16 of its 21 stocks in negative territory.
As the company explores a new system with Universal Music Group, CEO Jeronimo Folgueira suggests different countries may require different systems.
The partnership, which follows a similar collaboration with TIDAL, was announced by UMG CEO Lucian Grainge on an earnings call.
Also this week: Yusuf/Cat Stevens signs to Dark Horse Records, ClicknClear strikes a licensing pact with a major U.S. amateur sports organization and more.
The problem is bigger than most people realize, and it seems to benefit major-label stars as well as developing acts, according to internal data from SoundCloud.
Also this week: Universal Music Canada taps a vp of Black music, ASM Global brings in a president of business development and more.
Jeronimo Folgueira, who took the reins in 2021, says a deal with German media powerhouse RTL will be “transformative” for the French company.
CEO Jeronimo Folgueira was encouraged by Apple's decision to raise prices and Spotify's signal it intends to hike fees in 2023.
