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...the group’s previous expansion efforts....
...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....
...was founded in 2016 by Elliot Grainge, the son of Universal Music chief Lucian Grainge — Warner Music’s rival....
...“Universal Music, Sony and Warner need to maintain revenue growth in order to keep investors happy. So you start looking for non-organic growth,” said Midia analyst Mark Mulligan....
...Google, Universal Music and Warner Music declined to comment....
...The pair have other similarities: knowledge of the finest details of their operations and an intermingling of their corporations with their families as they groom the next generation....
...The Warner Bros movie studio created a music division in the 1950s. In 2004 parent company Time Warner sold the music division, but the group retained its copyrights to a trove of songs....
...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....
...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....
...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....
...Warner Music, the third-largest record company, last year announced it had struck a new deal with TikTok....
...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....
...Sony Music is developing new collaborations between artists using AI, recently working with electronic music group The Orb and Pink Floyd’s David Gilmour to allow fans to use AI to remix music....
...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....
...In 2021, the body responsible for the Square Mile scrapped plans to replace the museum with a £288mn concert hall dubbed the “Tate Modern for classical music”....
...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....
...A lot of action — yet lacking the crucial spark of originality. ★★☆☆☆ ‘Liam Gallagher John Squire’ is released by Warner Music...
...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....
...“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....
...Blackstone makes another bet on the music business Hipgnosis’ tumultuous year just took another turn: the music rights investor seems to be at the cusp of a bidding war....
...And businesses have obviously been very happy that he slashed corporation tax from 30 per cent to 22 per cent....
...Danny Cohen, the former director of the BBC’s TV output, said the group would also consider larger acquisitions in Hollywood, pointing to the 2011 takeover of Warner Music for $3.3bn as a template for his...
...Berkshire also exited its investments in payments business StoneCo, insurers Globe Life and Markel Corporation, and homebuilder DR Horton....
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