The new multiyear partnership will expand monetization opportunities for recorded music and publishing, and align with UMG's new "Streaming 2.0" strategy outlined this year.
Pershing Square Holdings will sell some of its 10.25% stake in UMG for a listing on a U.S. exchange by September.
The company vowed to fight back against a lawsuit that it said was trying to "weaponize" the legal process to "silence an artist’s creative expression."
In a full-fledged lawsuit against his longtime label, the star rapper claims UMG prioritized “corporate greed" and subjected him to violent attacks.
The pro basketball player's song "Tweaker," released under the name G3, has been going viral since its release earlier this month.
In response to a dramatically shifting landscape, the majors became increasingly focused on expanding their global artist services footprints this year.
In a joint release, the organizations argue the deal would "reduce competition and the independents' bargaining power" if allowed to go through.
Organizations including IMPALA, AIM and IMPF have come out in opposition to the blockbuster deal, arguing it will squeeze independents in an already concentrated market.
The company's publishing division, which includes Songtrust and Sheer, is expected to crank out $200 million in gross revenue in 2024.
Drake thinks the game is rigged — and he’s filing some seemingly unconvincing legal actions to prove it. Remind you of anyone in politics?
