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.
UMG, WMG and Sony are said to be considering a lawsuit against two of the most dominant AI startups in music, sources say.
The new structure is set to make sure the company's social and environmental goals are "positioned to meaningfully influence all aspects of our global strategy," Lucian Grainge said.
UMG has “substantially improved the total value we’ll derive from this relationship,” CFO Boyd Muir said. Some of that value is non-monetary.
“Subscriber growth is the biggest driver of the year-over-year growth rates we see at UMG,” said CFO Boyd Muir.
The new agreement, announced in the early morning, addresses "key changes in several critical areas,” Grainge said in outlining what UMG achieved in negotiations.
Martinez joins the company from Amazon Music, where she carried out campaigns for Bad Bunny, Karol G, Shakira and more.
The industry’s biggest label pulled its recordings and songs from TikTok earlier this year, but its brightest star is back on the platform. It’s licensing (Taylor’s Version).
The reason why some Universal Music artists are still on TikTok might be explained by a contractual loophole that could become more common.
