Music Industry News
Recent Developments in the Music Industry (June 19–26, 2025)
Business Deals and Acquisitions
Concord Acquires Stem Distribution: On March 24, 2025, Concord acquired Stem Distribution, a company offering personalized distribution and digital strategy services for independent artists and labels. Stem will operate as a separate division within Concord Label Group. (en.wikipedia.org)
Sony Music Publishing Acquires Queen's Catalog: In 2024, Sony Music Publishing purchased Queen's recorded music catalog and additional rights, including royalties from the film "Bohemian Rhapsody," for $1.27 billion, marking the largest sum ever paid for an artist's body of work. (mysummaryhub.com)
Artist Signings and Partnerships
Bob Sinclar Signs with Warner Chappell Music: Internationally renowned DJ and producer Bob Sinclar has entered into a global administration and sub-publishing deal with Warner Chappell Music, covering a catalog of over 350 works. (imsindustryinsider.com)
Purple Disco Machine Joins Sony Music Publishing: Tino Piontek, known professionally as Purple Disco Machine, has signed an exclusive songwriter agreement with Sony Music Publishing. (imsindustryinsider.com)
Industry Trends and Major Announcements
Singa and Warner Music Group Partnership: Singa, a karaoke streaming service, has partnered with Warner Music Group to provide access to WMG's catalog, enhancing the karaoke experience while supporting artists and songwriters. (mysummaryhub.com)
Goldman Sachs Lowers Music Industry Forecasts: Goldman Sachs has revised its global music market forecasts downward in the latest edition of its "Music In The Air" report. (musically.com)
Financial Highlights
Spotify Reports Record Operating Profit: In Q3 2024, Spotify reported a record operating profit of €454 million, up from €266 million in Q2, with 252 million premium subscribers and 402 million free users. (mysummaryhub.com)
Tencent Music Entertainment Growth: Tencent Music Entertainment reported Q3 2024 revenue of RMB 7.02 billion, a 6.8% increase from the previous year, with 119 million paying users and a 20.3% growth in music subscription revenue. (mysummaryhub.com)
Technological Innovations
YouTube Introduces AI Tools for Music Creation: YouTube has launched new AI tools, including "Custom Instrumentals" for generating royalty-free background music from text prompts, and beat-matching for Shorts to sync clips to music. (routenote.com)
Spotify's New 'Music Pro' Tier: Spotify is rolling out a 'Music Pro' subscription, promising exclusive features tailored for power users and music professionals, potentially including lossless audio and AI-powered remixing tools. (routenote.com)
These developments reflect the dynamic nature of the music industry, with significant business deals, technological advancements, and evolving market trends shaping its future.