DEALS
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Spotify and Universal Music recently announced an expanded strategic relationship aimed at enhancing music discovery, social interaction, and fan experiences. This partnership comes on the heels of Spotify revamping its royalties model to appease Lucian Grainge. With Universal Music’s ongoing tensions with TikTok, the collaboration aims to provide extra tools for amplifying music discovery and social interaction. The agreement also includes Spotify rolling out music videos on its platform in the US. Additionally, Virgin Music, a division of Universal Music, has partnered with 3AM Entertainment, a label focused on artists from the South Asian diaspora. Their first release, ‘Heartless’, features a collaboration between Jay Sean and Punjabi artist Ikky, further expanding the reach of South Asian music to a global audience.
APPOINTMENTS
SM Entertainment, a K-pop company, has re-appointed Tak Young-jun as co-CEO, working alongside Jang Cheol-hyuk. Tak will focus on artist management and content production, leading the company to implement the SM 3.0 strategy. Concord has appointed Stephanie Hudacek as President of Rounder Records, bringing her deep commitment to artists and songwriters to the label in Nashville.
LEGAL
In a Texas court, various entities named in the Astroworld lawsuits argued that they had no responsibility for event security and safety during the 2021 festival where a crowd surge resulted in deaths and injuries. The judge also considered whether Drake, who performed at the event, and Apple, which livestreamed it, should be removed as defendants. Legal representatives for Live Nation sought to exempt CEO Michael Rapino from a deposition, claiming he was not actively involved in planning the festival.
RIGHTS
BMI announced a $100 million payout to its members following the sale of the organization to equity firm New Mountain Capital. The former owners, including iHeart, also received significant amounts from the sale. Tom Vek has announced a new EP, ‘Confirm Yourself’, with the release of the track ‘Nothing Bad’ accompanied by an AI-generated video. Fairground Attraction has reunited after 34 years and will release a new album, kicking off with the single ‘What’s Wrong With The World’. St Vincent released ‘Flea’, another single from her upcoming album ‘All Born Screaming’. Other releases include ‘Self Sabotage’ by SMILEZ, ‘Kenny’ by Slay and Sigma, and ‘ILIKEU’ by Machinedrum featuring Duckwrth.