The U.K. regulator Competition and Markets Authority has raised concerns around Sony Music’s purchase of Kobalt’s recorded-music services division AWAL, after the first phase of its investigation into the acquisition. The investigation found that the distribution of recorded music in the U.K. is currently “highly concentrated,” with the three major labels accounting for the majority of the market and the independent sector handling the remainder.
Source: Sony Music’s Acquisition of Kobalt’s AWAL Raises U.K. Regulatory Concerns
The Department of Justice has accelerated an investigation into Google’s digital advertising practices and may file an antitrust lawsuit against the internet giant before the end of the year, two people with knowledge of the government’s thinking said on Wednesday.
Thirty-four groups from the Writers Guild of America West to Public Citizen to Demand Progress have appealed to the Federal Trade Commission to block Amazon’s proposed acquisition of MGM, which they say reflects the e-commerce giant’s growing dominance.
Thanks to historically low interest rates and the fervor of investors seeking a new steady stream of income, artists across the spectrum are doing what was once unthinkable — selling their music catalogs. But the window may be closing soon for musicians hoping to maximize their returns on what’s likely their most precious asset.
BMG saw its half-year revenues grow 9% YoY at constant currency to €296 million ($357m) in the six months to end of June. That represented the music rights company’s best-ever midyear performance since it was formed in 2008. 62.9% of BMG’s revenues in the first half of 2021 were from publishing, with 37.1% from recordings.
These days, what happens in China echoes from Stockholm to Los Angeles. Tencent Music’s share price, which hit an all-time high on March 23, fell a whopping 74.6% as of Aug. 23, wiping out $40.1 billion of market capitalization. Among its major shareholders is Spotify, which in December 2017 acquired an 8.4% stake in the company that has dropped in value by $3.6 billion in roughly five months.