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...the group’s previous expansion efforts....
...was founded in 2016 by Elliot Grainge, the son of Universal Music chief Lucian Grainge — Warner Music’s rival....
...Obermann, a former Warner Music executive who joined TikTok in 2019 to lead its negotiations with the big music labels, has been at the forefront of the talks....
...Last year, the business bought companies including US-based music production software manufacturer Harrison, whose music-mixing consoles have been used to record songs by artists from Michael Jackson to...
...A bidding war has emerged for French digital music company Believe after Warner Music Group said it planned to make an offer to buy the company for at least 17 euros a share, more than a recent proposal...
...The volumes of music they stream are limited more by the hours in the day than the depth of their rosters. The combined market share of UMG, Sony and Warner is more than 70 per cent....
...Perrette said that the group was “way ahead of what we thought we’d do” in driving profits from its streaming platform. WBD will also start to crack down on password sharing among its existing users....
...Warner Music, the third-largest record company, last year announced it had struck a new deal with TikTok....
...Digital music sales at Universal Music Group also slowed last year to 4.5 per cent, according to Visible Alpha, but from a much larger base....
...“Every single label that only dealt in pop, rock and urban [music], they’re all diving into the [country] space,” said Cris Lacy, co-president of Warner Music’s Nashville division....
...The group, which owns CNN and the Warner Bros studio, reported revenue of $10.3bn, down 7 per cent from a year ago and just short of the $10.4bn analysts had predicted....
...But a buyer would be foolish to pay a premium price for the group, given regulatory and integration challenges....
...Other music groups are experiencing similar slowdowns....
...Rival Warner Music also later signed up to the Deezer model in France. Grainge’s 2024 memo suggests other platforms may soon follow what he has coined an “artist-centric” approach....
...Blackstone over the weekend made a proposal to the company’s board to acquire the music rights group for $1.24 per share in cash to try to derail the recommended offer from Concord....
...It seems the piano music of eastern Europe is at last getting the wider recognition it deserves....
...Rural Hours: The Country Lives of Virginia Woolf, Sylvia Townsend Warner and Rosamond Lehmann by Harriet Baker Allen Lane £25, 384 pages Join our online book group on Facebook at FT Books Café and subscribe...
...Music*....
...Disney’s ESPN, Fox and Warner Bros Discovery plan to launch a sports streaming service later this year that will aggregate the games offered by the media groups’ traditional television networks....
...A UK-based media group has secured $500mn in debt funding to invest in creating and buying music rights for films, TV, theatre productions and computer games in a sign of continued interest in the asset...
...The major record labels — Universal, Sony and Warner — earn money by taking a cut of revenue from streams and album sales from a stable of thousands of musicians....
...The talks, first reported by Axios, come as US media groups are struggling to improve their profitability after waging a costly “streaming war” against Netflix....
...The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...His group, Chahat Mahmood Ali Qawwal, performed at the South Asian Sounds festival at London’s Southbank Centre in March. They are a rare thing: a Pakistani qawwali group now based in the UK....
...By contrast, concert promotion, by far Live Nation’s biggest division with 82 per cent of group revenue, pulled in only 17 per cent of total AOI....
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