Releases by Tomorrow x Together and Seventeen helped offset a sharp drop in concert revenue for the K-pop giant.
The deal is rumored to be valued at $50 million.
A recap of the second of three days of the gathering of industry leaders.
The Los Angeles-based executive on how he helped developed Mexican music's new star: "I always tried to mix hip-hop and regional Mexican."
Streaming revenue, given a boost from hits by Miley, SZA and others, boosted recorded music and publishing revenue in a record-setting year.
Growth in first quarter coming largely from investments and paid streaming overseas, especially in Asia Pacific and Latin America.
Val Blavatnik has served in roles at LionTree, TV production company Eden Productions and previously worked in the music industry as an artist manager.
"The songs are sick, the music is gigantic, and the risks were off the charts," Taylor says of his follow-up to 2020's CMFT, due later this year.
With the "right incentive structures," platforms can eliminate "unauthorized, unwanted, and infringing content entirely," says the CEO.
Sales by Morgan Wallen, Taylor Swift and other artists boost UMG's recorded music and publishing divisions.
