Spotify expands its share buyback program by $1.5B, raising total authorization to around $2.2B
The company's Board of Directors approved the increase, which Spotify confirmed in a press release on Thursday (August 20). Source
Music Business Worldwide
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Apple Music to slap AI labels on Suno tracks – but pushes the onus onto record companies
The move was announced in a message to industry partners from Apple on Thursday (August 20), obtained by MBW. Source
UMG-backed Music IP Holdings unveils AI music patent portfolio, aiming to ‘set a standard for how AI and music grow together’
Licenses, secured by Udio and GRAI, will support the development of licensed AI services including covers, remixes, and "a wide range of interactive music experiences" Source
Judge clears Ariana Grande to subpoena Instagram, TikTok, and PayPal to identify alleged music leakers
The ruling matters because Grande has not named a single defendant in the case, listing them as John Doe 1 and John Does 2 through 100. Source
Metal band Demon Hunter sues Netflix and AEG over ‘KPop Demon Hunters’
The band's corporation, Hyde Lane, is asking the court for treble damages, restitution, Netflix's profits and attorneys' fees, and has demanded a jury trial. Source
KKR to acquire minority stake in BookMyShow, the company behind Coldplay and Ed Sheeran’s India concerts
The deal gives KKR a position in the business whose live division, BookMyShow Live, has staged concerts in India by Coldplay, Ed Sheeran, Travis Scott, Guns N' Roses and Post Malone. Source
Universal Music Group partners with Hook to license fan-created content across social media
The partnership gives fans new ways to create with major-label music while routing compensation back to UMG artists and rightsholders. Source
MC Lyte receives SoundExchange Music Fairness Award for her advocacy on artist radio royalties
The honor recognizes the artist's advocacy for creators, including her push for passage of the American Music Fairness Act. Source
C+C Music Factory co-founder Robert Clivillés sues Freedom Williams for $30M, seeking cancellation of the trademark on the group’s name
Clivillés also wants the court to hand him administrative control of the longstanding C+C Music Factory Instagram account, which Williams runs. Source
Universal’s Virgin Music Group signs global distribution deal with Bhojpuri label Sur Music World
The Mumbai-based company started out in South Indian entertainment content, picking up Telugu, Tamil, Kannada and Malayalam film titles for digital release. Source