Anything World, the platform designed for developing interactive 3D experiences through the power of machine-based learning, announces raising $7.5 million in the company’s “Series Seed Plus” funding round. Investors in the round include Warner Music Group, Acrew Capital, and Alumni Ventures, with an influx of capital following the company’s launch of its high-fidelity animation system.
The Walt Disney Company added a whopping 14.6 million DTC customers globally in Q3, but saw its DTC losses widen to $1.474 billion from $630 million. With Disney’s stock price tumbling more than 12% since it revealed its steep streaming losses Tuesday, Wall Street, at least in the here and now, isn’t pleased with the conglomerate’s ambitious platform growth strategy, which calls for it to spend $30 billion on content this year.
According to a new Bloomberg report, the three majors, Warner Music Group, Sony Music Entertainment and Universal Music Group, are currently negotiating new deals with TikTok, and they’re asking for a share of advertising revenues generated on the platform. In July, the major record companies struck so-called ‘buy-out’ agreements with TikTok, which see the platform pay a lump sum to use licensed music across its service from a major’s catalog for two-year periods.
The deal is the latest in a string of acquisitions for the Bertelsmann and RTL Group-owned Fremantle, which has been expanding aggressively in scripted in the last year. The acquisition of 72 Films is a major coup in the non-scripted arena for the company considering the production company’s excellent track record of documentary hits.
Deezer is shifting from targeting small and emerging territories to renewing its focus on large and established music markets, where consumers are more willing to pay for subscriptions. CEO Jeronimo Folgueira calls the RTL tie-up a “transformative” deal that gives Deezer the scale it needs to break into Germany, the world’s fourth-biggest recorded-music market, with revenue of $1.6 billion in 2021, up 12.6% from 2020, according to IFPI.
YouTube has surpassed the milestone of80 million paid YouTube Music and Premium subscribers worldwide. That subscriber figure, which YouTube says includes triallists, marks a 30 million(or 60%), increase on the last subscriber figure to be publicly announced for YouTube Music, which was 50 million, just 13 months ago.
In a company-wide memo that was all posted on the company’s public pages, Zuckerberg blamed the pandemic, saying that the digital growth and “surge of e-commerce” experienced during the early days of COVID-19 — when lockdowns meant people were stuck at home — seemed as though it would become a “permanent acceleration that would continue even after the pandemic ended.”
Walt Disney said Tuesday its marquee streaming service, Disney+, gained more subscribers than Wall Street had expected, but investment costs dragged quarterly earnings below analysts’ targets. The entertainment company is spending billions to compete with Netflix and others for streaming television customers as traditional TV declines in popularity. Disney+ reported 164.2 million subscribers in the fiscal fourth quarter, surpassing Factset estimates of 161 million.
In the judge’s economical 80-page decision, Pan found the U.S. Department of Justice easily showed the proposed merger would likely “lessen competition” in the market for book rights in violation of Section 7 of the Clayton Act. “The government has presented a compelling case that predicts substantial harm to competition as a result of the proposed merger of PRH and S&S,” Pan concluded.
EXTRA From housing to securities to precious metals, many asset markets around the world are reeling in the face of persistent inflation, rising interest rates and fears of recession. While capital has continued to flow into the market for for rights-based assets, including music publishing catalogs, those waters, too, have shown some choppiness of late as well.