Sony Music Group is forming a music rights-buying joint venture with Singapore’s sovereign wealth fund, GIC Pte. According to Bloomberg, Sony and GIC plan to pursue “high-quality, marquee music assets across a range of genres”. “As a long-term investor, GIC seeks to be a creative and flexible capital partner to strategic industry leaders like Sony,” Girish Karira, head of the sovereign fund’s integrated strategies group, said in a statement.
Source: Sony launches $2B music rights acquisition JV with Singapore’s GIC




Web publishers and news organizations could be given the power to stop Google scraping their content for its AI Overviews, under measures announced by the UK competition watchdog to loosen its grip on online search. Media organizations have experienced a drop in click-through traffic to their websites – and therefore their revenue – since Google started posting AI summaries at the top of search results.
Media companies expect web traffic to their sites from online searches to plummet over the next three years, as AI summaries and chatbots change the way consumers use the internet. An overwhelming majority are also planning to encourage their journalists to behave more like YouTube and TikTok content creators this year, as short-form video and audio content continues to boom.

