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...BMG is the world’s fourth-largest music label — but lags far behind the top three “majors”, Universal, Sony and Warner. The company earned revenues of €905mn in 2023, up 4.5 per cent year on year....
...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....
...The model will aim to compete with several available text-to-video services from start-ups, including Runway, Pika, and Stability AI. These other services already offer commercial uses for content....
...Services such as Spotify, Apple Music and Deezer have revived the industry, growing sales for nearly a decade....
...Warner, the third-largest music group after Universal and Sony, said the approach was preliminary and non-binding, and that it had asked for a limited amount of information to conduct due diligence with...
...Warner Bros Discovery is to launch its Max streaming service across Europe, bringing together popular TV shows such as The White Lotus with movies like Barbie to challenge market leaders Netflix and Disney...
...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....
...The British-Nigerian entrepreneur Dumi Oburota is best known for his work in music: he launched the careers of artists including Jessie J and Tinie Tempah....
...The way people listen to music today has inverted the previous business model. Streaming services such as Spotify have helped shift some bargaining power to artists....
...Warner Music, the third-largest record company, last year announced it had struck a new deal with TikTok....
...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....
...Warner Music last March cut about 4 per cent of its staff, or 270 jobs, while publisher BMG laid off roughly 40 employees in October....
...Warner is limited in its ability to make a deal in the near term....
...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....
...Media is a strong theme for this week’s results, with Disney, Fox, Warner Bros Discovery and (big for the UK) ITV all reporting....
...For this reason he believes their influence on mainstream fashion is limited. “It’s a moment that begins and ends there....
...Warner Music Group has brokered a new deal with TikTok to license its music to the social media platform after months of negotiation to receive better compensation for songs used on the viral video app....
...Israel has won several times, including with transgender singer Dana International in 1998. Local dynamics have compounded the pressure this year....
...As the report also notes, those risks now appear “limited”....
...[MUSIC PLAYING]...
...[MUSIC PLAYING] Streaming services have been reporting earnings the past couple of weeks, and the results are a little lopsided....
...“We are trying to expand our portfolio and create a system based on strong IPs like Universal Music, Warner Music and Sony to compete better on the global stage,” said Park....
...“This is a precise and limited operation . . . within specific areas of eastern Rafah,” said an Israeli military official....
...Leverage deployed by private credit funds is typically limited, but the private credit value chain is a complex network that includes leveraged players ranging from borrowers to funds to end investors....
...London’s wider appeal as an international business destination needs fortifying too....
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