In an earnings call today, UMG said the cuts would result in 250 million euros ($271 million) in savings by the end of 2026. The number of people affected was not disclosed.
UMG also reported publishing revenues rose 8.7% for both the full year and the most recent quarter.
Developing artists distributed through Universal and Virgin are relying on workaround measures and "tricks" to keep using the platform.
Tracks featuring Universal Music Publishing Group songwriters are now getting pulled as well.
“Artists impacted by this are just being more creative on TikTok about how they’re getting music out,” says one digital marketer.
The wide-ranging lawsuit, filed by Rodney "Lil Rod" Jones Jr., accuses Combs and several of his associates of various forms of misconduct.
The company, home to artists like Rema and Ayra Starr, is at the forefront of Africa's Afrobeats movement, which has been exploding across the globe.
The live-stream shopping platform acquires the media company from Buzzfeed, which acquired Complex in 2021.
The company will now handle distribution and publishing administration for Chord's catalog, which includes works released by Fleetwood Mac, Maroon 5 and Beyoncé.
