Spotify’s French Tantrum & WMG’s Acquisition of Believe

This week, France has taken a firm stance against Spotify’s actions, prompting the music streaming giant to throw a tantrum. Warner Music has expressed interest in acquiring Believe, potentially setting up a bidding war. Apple received a massive EU fine for anti-competitive practices, sparking backlash from Spotify and regulators. TikTok is facing challenges in the US from both music publishers and politicians. Retail and consumption stats from ERA suggest that Apple Music could be generating over Β£500 million annually in the UK.

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ICYMI: The Advertising Standards Authority partially reversed its ruling on a FKA Twigs x Calvin Klein campaign. Hipgnosis Songs Fund faced scrutiny after a valuation haircut led to a drop in share price. YouTube workers were laid off during a meeting about potential job cuts. Manchester City Council spent a significant amount in a legal battle. Cox Communications is attempting to avoid billion-dollar damages sought by labels. And Calvin Harris reportedly eats raw eggs on flights to combat jetlag.

In France, Spotify criticized the new streaming levy and the Centre national de la musique, claiming it cannot afford the levy and questioning where the funds will go. Warner Music is considering acquiring Believe, potentially entering into a bidding war with the company’s CEO. Apple was hit with a hefty EU fine for anti-competitive practices, leading to a dispute with Spotify. TikTok is facing issues in the US with music publishers pulling catalogues and politicians calling for a ban. ERA’s 2024 Yearbook revealed key stats on music retail and consumption in the UK, including insights on streaming service subscriptions and changing podcast and audiobook consumption habits.

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