The Deals
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South Korea-based music distributor YG PLUS, a subsidiary of K-pop powerhouse YG Entertainment (BLACKPINK, BabyMonster), signed a licensing deal with African streaming and download service Boomplay that will bring YG’s catalog to the platform. According to a press release, Boomplay boasts 70 million users. “We look forward to a successful partnership with YG PLUS that will bring their catalogue to new listeners and help connect their artists with music lovers and fans in the African region,” said Boomplay in a statement.
Hitmaker Distribution struck a distribution deal with indie label Blac Noize! Recordings, in which Hitmaker founder/CEO Tony Bucher is a partner. Blac Noize’s roster includes HitKidd, Jdot Breezy, Nevi, Toure and Marc Nasty.
Tunespotter, an audio-visual clip database that allows users to search, listen to and view “synch moments” from movies, TV shows, trailers, games and commercials, acquired What-song.com. The deal effectively combines “the data and search power of two leading music search platforms – letting users see, hear, and learn more about sought-after TV or movie moments in a single, easy-to-use place,” according to a press release. “The database we’ve established gives Tunespotter an immediate aggregator and audience,” added What-song.com founder Tom Andrew. “Their ability to empower the user journey with their incredible visual tool chest and social app capabilities extends our reach and consolidates our strengths, positively impacting consumers with more rewarding, long form engagement.” Tunespotter claims that What-song.com attracts more than 1 million unique users per month.
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Warner Music Brazil invested in and partnered with Sua Música Group, which owns the Sua Música Brazilian music platform and distributor Sua Música Digital. Through the deal, the companies will team up to develop regional artists and songwriters. According to a press release, Sua Música Digital manages the digital careers of and handles royalty management for more than 1,000 artists across Brazil, including Tarcísio do Acordeon, Vitor Fernandes and Thiago Aquino. “The combination of Sua Música’s significant presence in regional music with our national reach and global network will amplify the efforts of both companies and offer artists new creative and commercial possibilities and opportunities,” said Warner Music Brazil president Leila Oliveira in a statement.
Private equity company Goldman Sachs Alternatives acquired a majority stake in live experiences company TAIT from Providence Equity Partners, subject to regulatory approvals. No financial details were disclosed. “Goldman Sachs’ network and expertise will enable us to grow our global footprint and offerings, empowering the company to better serve clients, drive innovation, and pioneer new technology,” said TAIT CEO Adam Davis in a statement announcing the deal. TAIT has worked with artists and brands including Taylor Swift, Cirque Du Soleil, Beyoncé, Royal Opera House, Nike, Google and The Olympics.
Downtown-owned business-to-business distributor FUGA announced partnerships with three U.K. music companies: One House, drum and bass label Critical Music and Berry’s Room, an imprint of British-Nigerian Afrobeats artist Maleek Berry. One House (Eliza Rose, Pretty Girl) will take advantage of FUGA’s global distribution and marketing services, including physical distribution, synch, YouTube channel management and access to FUGA’s trends and analytics platform. Critical Music (QZB, Mefjus, Waeys, Ivy Lab) will use FUGA’s global distribution and marketing services to support its current and future releases. And Berry’s Room will utilize FUGA’s distribution, marketing and YouTube channel management services for Berry’s catalog and the release of his upcoming debut album; FUGA will als help the imprint support other Afrobeats artists.
Shamrock Capital‘s Content Strategy division acquired a film, TV and music portfolio from Vine Alternative Investments. The portfolio boasts an ownership interest in more than 450 songs, according to a press release. Shamrock would not confirm which songs were included in the deal.
Producer and creative executive RedOne’s 2101 Records imprint signed a distribution deal with Vydia, a distribution service under the gamma. umbrella. Vydia will support 2101’s roster and manage the rights and distribution of RedOne’s back catalog.
Independent dance music label Armada Music partnered with electronic music duo Deep Dish in a deal that will see Armada managing part of Deep Dish’s music catalog — namely, the duo’s 2005 album George Is On. Through the deal, the album returned to DSPs and download portals worldwide on Friday (July 19) for the first time in several years.
Global growth firm Triple G Ventures, led by CEO Gregg Stein, announced a partnership with Revelator, which provides digital IP infrastructure to independent music businesses. Through the deal, Triple G will help to enhance Revelator’s market presence, drive growth and increase awareness of Revelator’s end-to-end digital rights and royalty management solutions. Stein will also now serve as Revelator’s new chief marketing officer.
Ticketmaster partnered with Shazam for a deal allowing artists to link to their Ticketmaster-listed events directly in the Shazam app. Through that integration, Shazam users will be able to see where that artist is playing and buy tickets to their show “with just a few clicks” after Shazaming their music, according to a Ticketmaster blog post. The ticketing giant previously announced similar integrations with TikTok and Snapchat.
Fraud detection company Beatdapp Software partnered with Beatport, a digital service that offers high-quality downloads for DJs to use in live sets, in a deal that aims to banish fraudulent activities on Beatport by integrating Beatdapp’s fraud detection technology into the platform. “We launched streaming products under the Beatport and Beatsource brands in 2019, and despite the fact that they have not historically been a target for streaming fraud, suspicious activity has been on the rise in recent months,” said Helen Sartory, chief revenue officer of The Beatport Group, in a statement. “Although our fraud rates still remain half that of the industry average, we rely on accurate streaming data not only to preserve fair compensation to artists and labels, but also for track recommendations and analytics. We are excited to be able to work with Beatdapp to ensure that our data is representative of authentic listener engagement.”
Virgin Music Group announced a “strategic relationship” with Frontier Works, a Japanese animation-related content production company, to release anime music projects. Virgin will provide Frontier Works with access to its music distribution and marketing platform and global team to support Frontier releases worldwide. This includes Virgin’s AI-driven music marketing technology, which filters streaming data “to create dynamic and actionable insights,” as well as “Smart Audience,” an advertising platform that uses “ethical AI” to increase fan engagement and help drive streaming consumption, according to a press release.
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Believe acquired a 25% stake in Global Records, an independent dance music company covering Central and Eastern Europe, and signed a strategic partnership with the label. The acquisition expands Believe and Global Records’ existing relationship, which since 2016 has allowed the latter to ramp up its territorial expansion and catalog development, according to a press release. Global Records’ catalog racked up more than 6 billion streams across all platforms last year alone and has seen more than 20 billion streams to date, the release adds. Global’s roster includes INNA, Minelli, Carla’s Dreams, Antonia and Holy Molly; it has offices in Germany, Romania and the United States.
Artist manager Matt Musacchio‘s Champ Management partnered with Red Light Management in a deal that brings Vincent Mason, Jessie James Decker and Dawson Anderson to the Red Light roster. Kyle Marsh will also join the Red Light team as a day-to-day manager.
ASM Global expanded its reach into Portugal by taking on the operation of two venue spaces located in Lisbon’s LX Factory, which is located inside a converted factory complex in the Alcantara area. ASM Global will additionally manage the venues’ adjacent outdoor bar, terrace and gallery spaces.
Web3 creator platform DRiP acquired limited-edition music platform Vault Music. Both platforms are on the Solana blockchain. Under the deal, all Vault Music drops and users will transition to the DRiP platform. “Vault was our first music partner on DRiP,” said CEO Vibhu Norby in a statement on the acquisition. “They did a phenomenal job harboring musicians from outside of the existing ecosystem, and we’re excited to help them continue that effort.”
ADA Canada signed a global distribution deal with country music label MCM Recordings, which is home to Jess Moskaluke, Charlie Major and The Redhill Valleys.
The Irish Music Rights Organisation (IMRO) extended its agreement with the International Copyright Enterprise (ICE) for several more years. According to a press release, the extended deal “will facilitate faster royalty payments to IMRO members for online performances of their works and enhanced usage transparency.” The release claims IMRO’s online revenue saw 30% growth in 2023.
Independent dance music label Armada Music signed a long-term partnership with Amsterdam-based DJ and producer KI/KI and her self-founded label, slash. Armada will work with KI/KI and her team on A&R, label management, distribution and promotion/marketing for upcoming slash releases. The first release under the joint venture is KI/KI’s latest EP, slash 010.
Music instruction platform Yousician launched a partnership with Billie Eilish under which all 10 songs from Eilish’s latest album, Hit Me Hard and Soft, will be featured on the platform. Yousician users can now learn Eilish’s new songs on guitar, bass, ukelele, piano and vocals, in addition to more than 20 additional Eilish songs that are already available on the platform. Yousician provides users with lyrics, chords, step-by-step tutorials and real-time individualized feedback. This marks Yousician’s first deal with a major artist since its Metallica collaboration in 2022.
Warner Music Group’s ADA signed a global distribution deal with 11:11 Media, the media and consumer lifestyle company founded by Paris Hilton, who recently announced the Sept. 6 drop of her sophomore album, INFINITE ICON. “ADA gives me the ability to share my music with the world while maintaining ownership of it — which is so important to me, as an artist and entrepreneur,” said Hilton in a statement.
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Warner Music Group acquired a minority stake in the independent Croatian music company Dancing Bear Music. Under the deal, Dancing Bear artists will be able to utilize the services offered by ADA, Warner Music’s global distribution and label services arm, with the opportunity to upstream and become part of Warner Music’s global roster. The deal also includes a renewal of the companies’ licensing agreement covering Albania, Bosnia and Herzegovina, Croatia and North Macedonia. Dancing Bear has acted as Warner Music’s licensee in Croatia since 1996, while its sister company, Dancing Bear Publishing, acts as a local representative of Warner Chappell Music. Artists on the Dancing Bear roster include Dalmatino, Bruno Pietri and Pete Spruce.
The BBC invested 500,000 pounds in Condense, a live-streaming platform that allows fans to experience live shows in an immersive virtual space. The announcement follows BBC Radio 1’s New Music Show with Jack Saunders hosting a series of Condense live-streams with artists including Gardna, Charlotte Plank and Sam Tompkins. Jo Sherlock, group rights and commercial director at the BBC, will serve as Condense’s contact at the broadcaster; she will help shape the growth of the partnership as an observer on the Condense board. “By partnering in this way, we can rapidly explore new ways to engage younger audiences who don’t regularly come to the BBC,” said BBC head of ventures Jeremy Walker in a blog post.
Juan Munoz‘s independent label Night Stone Records signed a global distribution deal with The Orchard. Night Stone’s roster includes B. Howard, Otti, RMB Justize, PRIVATEHOUR, Kris Hollis, DJ So Cole and Million$. All will have access to The Orchard’s suite of services, including global distribution, DSP and digital partner pitching, marketing, synch licensing, video services, data analysis, advertising and radio promotion. Night Stone also announced the launch of Night Stone Games, an independent game studio that will be led by Ken Fox, co-founder of Warner Brothers Games San Francisco.
Created by Humans, which aims to create a marketplace where creators can license their intellectual property directly to AI companies, raised a $5 million funding round led by Craft Ventures and Floodgate, with participation from LAUNCH Fund, Slow Ventures, Garry Tan and Walter Isaacson.
Downtown-owned business-to-business distributor FUGA formed a partnership with two labels: Paris-based independent label Record Makers and Potion Records, founded by DJ/producer The Magician. Record Makers, whose roster includes Sébastien Tellier, Kavinsky and Dita Von Teese, struck a global distribution and marketing deal with Downtown that will include expanded services across Downtown’s marketing strategy and marketing accounts offering, as well as synch. Potion Records will utilize FUGA’s marketing strategy and digital accounts offering along with synch and licensing services. The Potion roster includes The Ashton Shuffle, Soda State and Aevion.
Sony Music Entertainment India and Maddock Films partnered to produce music projects that will cover both film soundtracks and independent pop projects featuring Indian talent. The deal launches with soundtracks for the upcoming films Chhava starring Vicky Kaushal and Rashmika Mandanna with music by A.R. Rahman, Diler featuring Ibrahim Ali Khan and Ikkis starring Agastya Nanda with music by Sachin-Jigar. The soundtracks for Luka Chhupi 2, Sector 36 starring Vikrant Massey, Sarvagunn Sampan starring Vaani Kapoor and Rumi Ki Sharafat starring Radhika Madan also fall under the partnership.
Leading Bulgarian music event organizer Fest Team signed a preliminary contract to acquire East European promoter, talent buyer and artist agency Charmenko, which encompasses Charm Music and Charmworks. With the acquisition, Fest Team hopes to expand its regional presence and operations across Eastern Europe, the Balkans, Turkey, the Baltic regions and more. The acquisition is set to be finalized later this summer.
Twitch signed music licensing deals with all three major labels — Universal Music Group, Warner Music Group and Sony Music Entertainment — as well as “a large number” of indie labels represented by Merlin, according to a blog post. The deals specifically cover DJs who live-stream on the platform; other uses of music are not covered.
Under the deals, starting this summer, DJs will need to opt into a new agreement that will apply to all streaming on their Twitch channels. Thereafter, a portion of DJs’ earnings on the platform will be paid to music companies, with the majority of those earnings subject to a 50-50 split between DJs and Twitch. To help DJs adjust to the change, Twitch says it will offer a one-year subsidy to help cover the difference in revenue that will be paid out to music companies, with the amount of the subsidy gradually reducing over time.
“It’s crucial that DJs understand the status quo on Twitch was not sustainable, and any viable future for the community required we find a solution,” the blog post reads. “We’ve worked with music partners over the past few years to develop this program. Without it, those who stream DJ content on Twitch without the necessary rights do so at the risk of receiving DMCA notifications and copyright penalties which could restrict their ability to stream on Twitch.”
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According to Twitch, the number of DJs streaming on the platform has “more than quadrupled” since early 2020.
Tencent and its subsidiary Tencent Music Entertainment acquired a 10% stake in Thailand-based entertainment platform GMM Music for $70 million, valuing the company at $700 million. The stake will be paid for with a combination of cash and a minority stake in the Tencent-owned music streaming app JOOX Thailand. According to a press release, the deal “will strengthen GMM Music’s spin-off plan” and allow it “to expand its business, achieve sustainable growth, acquire world-class expertise, and invest in future music innovations to keep pace with the rapid evolution of the global music industry.” In a statement, GMM Music CEO Phawit Chitrakorn said the deal will help the company “drive the New Music Economy in Thailand towards sustainable growth” while allowing it to expand its business in additional markets, including China.
Neon Gold Records, the independent label known for launching the careers of artists including Tove Lo, Charli XCX and MARINA, signed a global distribution agreement with Virgin Music Group. Recent releases from Neon Gold include Good Neighbours’ debut single “Home” (now receiving global support from Capitol and Polydor) and Mt. Joy’s “Highway Queen”; other acts on the roster include The Knocks and Juliana Madrid. The label also revealed its newest signing: alt-pop band Phantogram, whose new single, “All a Mystery,” was released May 31. Neon Gold previously had joint ventures with Columbia (2010-2013) and Atlantic (2014-2024).
Bandcamp partnered with EMPIRE in a deal that will allow the independent record label to expand retail opportunities for its artists, who include Shaboozey, Key Glock, Conway the Machine, Dinner Party, Olamide, Asake and Black Sherif. With the deal, EMPIRE artists will now have the ability to connect with Bandcamp’s community of more than 47 million fans, to whom they can directly sell digital releases, vinyl and exclusive merchandise through the Bandcamp platform.
L.A.-based record label D36, which centers on aspiring musicians from South Asia and its diaspora, formed a joint venture with Sony Music Entertainment. Through the joint venture, acts of South Asian heritage will better be able to connect with audiences in both South Asia and international markets, including the United States. D36 is run by CEO Abhi Kanakadandila and GM/co-founder Abdullah Ahmad.
The U.K.-based Night Time Industries Association (NTIA) partnered with KUVO Powered by DJ Monitor to help foster the adoption of KUVO’s music identification technology in U.K. venues — all in hopes of ensuring proper royalty payouts for creators of the music DJs play. According to a press release, NTIA will work to make KUVO’s technology “standard practice across the U.K. club and DJ events industry…with a focus on building towards a more transparent and fair music royalty ecosystem within the UK.” There is no cost for venues to participate in the initiative and there will be no effect on the license fees venues pay for music. It also “respects DJ setlist privacy — no details of which DJ played which tracks are captured by the technology and no playlists are publicised,” the release adds.
Downtown Artist & Label Services officially partnered with AI-powered marketing operating system SymphonyOS to offer SymphonyOS marketing tools to Downtown artists at a reduced price. The deal was struck after Downtown ran multiple successful SymphonyOS-driven campaigns with artists including Hunter Hayes, mehro and Ryan Nealon. SymphonyOS offers AI-powered campaign creation, aggregated analytics, a website builder tool and features including Forever Saves, which allows fans to “subscribe” to an artist’s future releases.
1336 Records, a new label venture from System of a Down’s Shavo Odadjian, launched in partnership with Sumerian Music Group. The first release under the deal is “Paradise,” the debut single from Seven Hours After Violet — Odadjian’s new band also featuring Taylor Barber (Left To Suffer), Morgoth (Winds of Plague), Alejandro Aranda (Scarypoolparty) and Josh Johnson.
SURF Music — a platform that allows songwriters, producers and other creators to connect, collaborate, package, pitch and sell their original unreleased music to Japanese, Korean and Taiwanese labels and A&R professionals — has welcomed Universal Music Japan, Sony Japan, Avex and Fujipacific to the platform as official users. By joining SURF Music, the labels will have the ability to explore SURF’s marketplace of unreleased demos using AI-supported search tools.
VNYLab, a new music platform designed to bring independent artists closer to their fans, acquired Patron Empowerment, the developer of the similar Rhythmic Rebellion platform. The multi-million-dollar deal will accelerate the growth of VNYLab, which is set to officially debut this summer. VNYLab was founded by Jon Zeit, Wes Mason and Nikki Fernandez. Patron Empowerment founder/CEO Greg Allen has joined VNYLab as a partner.
Ford signed a 10-year naming rights agreement with Notes Live for a new music amphitheater coming to Colorado Springs, Colo. The 8,000-capacity venue, formerly known as The Sunset and now called Ford Amphitheater, is set to open on Aug. 9 with a performance by Ryan Tedder and his band OneRepublic.
Los Angeles-based electronic producer Jauz partnered with global distribution company OneRPM to relaunch his six-year-old label, Bite This. Together, the two teams are planning label takeovers, pop-up events and compilations as they bring genre-spanning sounds by rising artists to the release calendar. The partnership with OneRPM — whose client list also includes artists like Chance Peña, Yelawolf, A$AP Twelvyy and Alejo — will provide projects from emerging Bite This acts like Albert Breaker and Edison Cole with label services that would normally be rare to have at an artist-run imprint. – Katie Bain
U.K.-based ATC Management, whose clients include Bring Me the Horizon and Bullet for My Valentine, signed a new cooperation agreement with Chinese independent music company Modern Sky. Through the deal, the two companies will leverage their resources across management, live representation, merchandising, marketing and digital to drive artists’ careers in their respective markets.
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AWAL partnered with L.A.-based networking and mentoring program Creative Futures Collective to launch the AWAL Futures program, which will focus on launching the careers of artists and supporting creatives from underrepresented communities. The artists selected into the program will receive an EP release from AWAL (including an EP release event at Soho Warehouse in July) as well as mentorship from AWAL executives. Creatives from the Creative Futures Collective community will assist with marketing assets including music videos, photos and other artwork. Selected artists for the inaugural program are Brooklyn-based project BITTERS featuring British frontwoman Claudia Mills; Columbus, Ohio-based Ghanian-American singer-songwriter NanaBCool; and Chicago rapper/producer Jay Wood.
Two French collecting societies, the SCPP (for sound recording producers) and ADAMI (for music and audiovisual artists), signed a partnership agreement to pool their respective databases and distribution tools for private copying remuneration and equitable remuneration. A study is currently underway to draw up the operational implementation of the pact, which includes a clause under which the two companies may decide to merge within a joint subsidiary being created under the deal. The creation of the subsidiary will be submitted for approval at each company’s upcoming general shareholders meetings. “Both companies jointly acknowledged that the situation in France creates inefficiencies that are detrimental to all rights holders and weakens their ability to negotiate their rights,” according to a press release. “This is because there are 7 related rights collective management organizations in France, whereas in most European countries there is only one.”
U.K. physical distributor Proper Distribution signed a deal with U.S.-based Firebird Music Holdings to service Firebird’s partner labels, artist management agencies and other creative businesses. Proper will spearhead physical sales and distribution for Firebird’s frontline and catalog releases across the United Kingdom, Republic of Ireland and Europe (via Proper’s partner Bertus) for select signed and self-releasing artists on Firebird’s partner rosters. Firebird partners will be granted access to Proper’s facilities and resources, specialist knowledge of local record retailers and marketing and sales teams in agreed-upon territories. Self-releasing artists under Firebird will enjoy a streamlined process to release music on physical formats. The deal will encompass releases by Slash, Chase Rice, The WAEVE, Moonchild Sanelly, Whiskey Myers, Danielle Bradbery and Rainbow Kitten Surprise, among others.
Keywords Studios, an international provider of technology-enabled solutions to the gaming and entertainment industries, partnered with Reactional Music, a music personalization engine that allows music and audio to be generated live in video games. Under the deal, Keywords will offer help facilitate the integration of Reactional into game development projects on behalf of its clients. “Collaborating with [Keywords’] teams and studios provides an incredible opportunity to scale Reactional,” said Reactional Music president David Knox in a statement. “We believe that Keywords’ implementation teams can also enable Reactional to extend its generative music and creator tools in innovative ways beyond the core gaming space.”
Producer Eli Brown (Drake, Giveon, PARTYNEXTDOOR, Chris Brown) signed an exclusive deal with Warner Music Canada through which he will develop and sign Canadian artists to the label via his imprint, Loophole Records.
Code.org, a nonprofit dedicated to expanding access to computer science in schools, particularly for students from underrepresented groups, partnered with Amazon to launch Music Lab, a platform through which K-12 students can learn to code through interactive music composition featuring hit songs by artists including Tinashe, The Chainsmokers, Rosa Linn and Aloe Blacc. Through an educational partnership with Amazon, each artist contributed tracks and samples for use in the platform. Over the past six months, Code.org has tested Music Lab with thousands of students and teachers.
The European Music Managers Alliance (EMMA) announced a new partnership with AI-driven msuic funding platform beatBread, which uses billions of data points to forecast an artist’s earnings potential in order to offer advances on existing catalog as well as new and unreleased music. Artists then repay their advances as a percentage of their revenue over a period of time that artists can set. The partnership will kick off with an exclusive online workshop for EMMA members on July 2 that will focus on funding and business building.
.MUSIC, a top-level domain name designed for the global music community, partnered with global identity verification provider Shutfi Pro. Through the deal, Shufti Pro will authenticate the digital identity of the music community to create a “trusted ecosystem of verified artists, creators, industry professionals, organizations, businesses, and brands” under the .MUSIC domain.
Mastercard Midnight Theatre, a 150-seat venue in Manhattan, selected Oak View Group (OVG) to manage its operations. OVG plans to debut a new restaurant concept at the venue, an investment of Dolphin Entertainment, this spring.
U.K. taxi app FREENOW announced a third year of financial support for Music Venue Trust (MVT). Under the arrangement, FREENOW customers can opt in via the company’s app to round up the cost of their fares and donate to MVT, which supports grassroots music venues across the United Kingdom. Donations will be collected for every trip completed and sent to MVT, which will use the funds to operate its emergency response service — one MVT claims has saved “hundreds” of venues from closure since being established in 2017.
NetEase Cloud Music struck a licensing agreement with South Korean music company Kakao Entertainment that will allow NetEase to distribute Kakao’s catalog in China. Both companies will work together to jointly promote Korean music in the Chinese market. Kakao artists include Jay Park, Chungha, FTISLAND and CNBLUE. According to a press release, Kakao had 2016 million monthly active users and more than 44 million paying subscribers in 2023.
Rapper Lil Durk partnered with AWAL to re-launch his label venture, OTF. Under the deal, OTF will identify and develop artists with the help of AWAL’s global infrastructure and artist development expertise. Durk will act as CEO while OTF’s COO, Cedrick “SB” Earsery, will work alongside AWAL CEO Lonny Olinick, president Pete Giberg and senior vp/head of urban music Norva Denton to foster the OTF roster. The first release under the deal, “GTA” by DJ Bandz featuring Rob 49, Skilla Baby and Fivio Foreign, is dropping Friday (May 17).
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Music Venue Trust announced the second acquisition by its own Music Venue Properties via the U.K. charity’s Own Our Venues scheme: The Ferret in Preston, a 200-capacity venue that has hosted artists including Ed Sheeran, IDLES, Alt-J and Royal Blood. With the purchase, the venue will be placed in permanent protected status via a “cultural lease” — an agreement designed by Music Venue Properties to guarantee that, as long as The Ferret operates as a space for grassroots live music for the local community, they can use the building. Own Our Venues has raised nearly 2.6 million pounds to date from more than 1,200 individual investors. In October 2023, Music Venue Properties made its first purchase when it acquired The Snug in Atherton, Greater Manchester. An additional seven venues across the country have been identified for purchase in this initial phase.
AI solutions company Veritone signed a deal to power theCAAvault, a synthetic media vault created by Creative Artists Agency (CAA) to store the intellectual property of CAA clients, including AI clones and voice recordings. The hope is to ensure the proper compensation of CAA talent for any use of their name, image and likeness.
ASM Global invested in Boston-based EDGE Sports Group, marking a significant move by the company to become a market leader in providing advisory, development and venue management services to clients and partners in the domestic youth sports and sports tourism industry. Following the close of the transaction, EDGE will operate under the moniker EDGE Sports Global. EDGE brings a portfolio of more than a dozen sports venues in the New England region and is expanding with development projects in Florida, Arizona and more; it also owns or manages youth sports clubs, academies and camps totaling more than 350 teams and 8,000 athletes. EDGE Sports Group founder/president Brian DeVellis will continue serving as president of EDGE Sports Global.
Music licensing hub Broma16 signed an international agreement with YouTube and partnerships with three collecting societies from the Commonwealth of Independent States (CIS) region. The YouTube deal will see Broma16 collecting music royalties from the platform in territories including Africa, Asia, the Middle East, Europe and the CIS and distributing them to its members. The company’s new collecting society partners are ANCO (Moldavia), SIIP (Uzbekistan) and KAZAK (Kazakhstan). SIIP and ANCO will use Broma16’s online licensing services to collect royalties for their songwriter and publisher members. KAZAK has granted Broma16 the right to collect royalties from YouTube.
Chinese music streaming service provider NetEase Cloud Music entered a licensing agreement with K-pop label JYP Entertainment, granting it the right to digitally distribute JYP’s catalog in China. JYP artists include J.Y. Park, TWICE, Stray Kids, BOY STORY, ITZY, Yao Chen and NMIXX.
TikTok announced a partnership with European ticketing provider CTS Eventim through which artists can now promote their live dates in their TikTok videos and sell tickets via the CTS Eventim platform. The feature is available to any certified artist on TikTok in Germany, with additional markets to follow.
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Warner Music South East Europe launched Balkan Electro, a new EDM-focused label, in collaboration with Ensis Records. Through the deal, Ensis artists can be distributed, upstreamed and marketed through the new label. Warner Music Poland will also collaborate to sign new local talent to Balkan Electro, which will additionally team with Amsterdam-based Spinnin’ Records and the dance-focused teams at Warner Music Central Europe and Warner Music France. The first releases on Balkan Electo are Prisko and TBX’s “Back to 95” (April 19), Melli’s “Losing My Mind” (April 26) and Kevin’s Palacios and Jordan’s Grace’s “Bright As You” (May 10).
The City of El Paso has approved a $30.9 million performance-based incentive agreement to support the creation of Notes Live‘s new $80 million, 12,500-capacity open-air amphitheater in El Paso, Tex., to be named the Sunset Amphitheater. According to a press release, the project will support more than 2,000 direct and indirect jobs with the potential to generate a $5.4 billion impact for the El Paso community. Construction is slated to begin in late 2024 with an opening set for early 2026.
Concert discovery app Songkick teamed up with Black music and culture ticketing and marketing company Shoobs in a deal that will see Songkick list and promote Shoobs events to its 155 million users via its app, website and eCRM. The partnership is designed to boost the visibility of Black culture events and performers including Afro Nation Portugal, Burna Boy and Piano People in the Park.
Ticketing company AXS acquired a majority stake in WRSTBND, a provider of access control, credentialing and point-of-sale solutions for live events and venues. WRSTBND will use the investment to grow its capabilities and offerings to clients while integrating AXS’ Mobile ID technology with WRSTBND’s ecosystem. “[WRSTBND’s] hardware and software technology combined with the scale of AXS’ premier festivals and live event clients, including Coachella, New Orleans Jazz & Heritage Fest, and Hyde Park BST will create the most seamless and cutting-edge access and payment solutions available anywhere,” said AXS chief strategy officer Marc Ruxin in a statement.
Celebrity Coaches, which provides transportation and logistics for live events, acquired Nashville-based entertainment coach leasing company Moonstruck Leasing. The acquisition will add several luxury Prevost motorcoaches to Celebrity’s existing fleet. Terms of the deal were not disclosed.
The Irish Music Rights Organisation (IMRO), an international performing rights organization, partnered with music recognition technology company Audoo to implement its Audoo Audio Meter in select public spaces and retail locations in urban areas across Ireland, with plans to expand it to all business types in the country. The partnership is designed to help promote a more accurate and transparent breakdown of royalty distributions to music creators by recognizing background music being played via Audoo Audio Meteres and reporting the data back to IMRO. Business owners in Ireland can request an Audoo Audio Meter free of charge.
Private equity firm PAI Partners acquired a majority stake in Audiotonix, which designs, engineers and manufactures professional audio mixing consoles, production software and ancillary products. Investment house Ardian (which acquired Audiotonix in March 2020) will retain a minority stake alongside Audiotonix management. The U.K.-headquartered Audiotonix specializes in designing, engineering and manufacturing products that help enable high sound quality for several formats, including concerts, theater shows and sporting events. Its products have been used on tours by artists including Coldplay and U2 as well as at the Super Bowl and Sphere in Las Vegas.
RoEx, a tech startup driving intelligent audio production tools, was awarded a 250,000 pound ($313,000) grant by national innovation agency Innovate UK as part of a funding competition called Creative Catalyst: AI in the Music Industry. The grant will support the research and development of RoEx’s new model, ProStyle, which will provide a platform for mix engineers to partner with RoEx to train a machine learning model that captures their individual mixing style, thereby allowing them to monetize their sonic identity. Through this, the goal is for musicians and creators to have the ability to mix tracks in the engineer’s style using ProStyle.
Full-service entertainment marketing company FlyteVu and Club CMO, a community of more than 1,500 chief marketing officers across 30 cities globally, struck a partnership through which FlyteVu will offer Club CMO members “backstage” access — both in-person and virtually — to FlyteVu-marketed sports, music and pop culture events. Through the partnership, Club CMO members will be offered a closer look at FlyteVu’s industry expertise and knowledge, which they can then take back to their own organizations.
Cutting Edge Group (“CEG” or the “Group”), an investor in and manager of niche media music rights encompassing more than 2,000 titles across soundtrack albums, completed a $500 million debt refinancing with four banks led by Fifth Third Bank and Northleaf Capital Partners. The new credit facility will be used for corporate purposes as well as the acquisition of music rights from the roughly $1.5 billion pipeline of possible investments already identified by Cutting Edge.
“Cutting Edge has become a world leading music partner to the film and tv industries,” said Philip Moross, CEO of Cutting Edge Group, in a statement. “During that time, the structural trends driving our industries have accelerated exponentially, delivering a proliferation of digital platforms and content, matched by an increase in demand for media music usage. Prior to the pandemic, we identified a similar opportunity in the global wellness market, which is now projected to grow at 10% per annum to a US$7 trillion market by 2025. This refinancing will enable us to execute our growth strategy to take full advantage of these trends in our usual disciplined way.”
TikTok partnered with global ticketing platform AXS, enabling certified artists on the social platform to use its in-app ticketing feature to promote their AXS live dates while allowing fans to buy tickets for events through AXS within TikTok.
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Universal Music Greater China (UMGC) struck a new strategic agreement with TF Entertainment, the company behind Chinese idols TFBOYS and Teens In Times. Under the deal, UMGC will handle global distribution of TF’s roster, targeting markets outside Mainland China.
ASM Global Acts, the corporate social responsibility platform of ASM Global, partnered with reuse platform r.World to introduce reusable service ware — including reusable cups and food containers — in venues throughout the company’s North American portfolio, beginning with the Long Beach Convention and Entertainment Center and select hospitality locations at the forthcoming Acure Grand Prix in Long Beach, Calif.
Audacy and Super Hi-Fi, which provides AI-powered radio services for broadcast and digital media companies, announced an expanded partnership that will streamline Audacy’s digital content programming, production and broadcasting processes “while creating stickier listener environments and more opportunities for advertisers to engage with them,” according to a press release. Audacy additionally announced that five of its highest-rated HD radio stations are transitioning to use Super Hi-Fi’s program director radio operating system, allowing programmers and staff to spend less time on production. The stations include WWBX-HD2 in Boston, WLKK-HD2 in Buffalo, KILT-HD2 in Houston, KROQ-HD2 in Los Angeles and KNRK-HD2 in Portland.
Leading classical music artist agencies IMG Artists and TACT Artists Management formed a strategic alliance through which their vocal departments will work together to pool expertise and resources. With the partnership, the companies hope to ensure a broader international network for their rosters, among other benefits.
Sony Music‘s global podcast division acquired podcast production company Neon Hum, whose founder/CEO Jonathan Hirsch joins Sony Music as vp of global podcasts/head of U.S. creative. Sony will utilize Neon Hum’s production expertise to continue developing podcasts for its subscription channel, The Binge, and across its entertainment slate. Sony will also expand its work-for-hire business to provide more services beyond audio production for its client and branded podcasts. Before the acquisition, Sony made a strategic investment in Neon Hum in 2019, with the two jointly launching podcasts including Dinners on Me with Jesse Tyler Ferguson, Smoke Screen and My Fugitive Dad.
Merlin announced a licensing deal with streaming platform Audiomack, giving Merlin members access to Audiomack’s listenership. Merlin members will now also be able to claim their artists’ Audiomack accounts, enabling them to send messages to their fans and more. The deal encompasses Audiomod, a new Audiomack tool that allows fans to customize their listening experience via pre-set filters including “sped up,” “slowed down,” “nightcore” and “daycore” and/or custom listening filters they create themselves.
Secretly announced new distribution deals with Jazz Is Dead and its sister label, Linear Labs. Founded by Adrian Younge, Ali Shaheed Muhammad (A Tribe Called Quest), Andrew Lojero and Adam Block, Jazz Is Dead is dedicated to “honoring the legacies of musical heroes and luminaries,” according to a a press release, having released albums by Rob Ayers, Lonnie Liston Smith and more. Linear Labs focuses on “new progressive music” and has worked with artists including Ghostface Killah, The Delfonics and Angela Muñoz while releasing scores and soundtracks for CBS, Hulu and Netflix. Past and future releases on both labels will now be distributed by Secretly.
Image-Line — the developer of popular digital audio workstation (DAW) FL Studio and FL Cloud — acquired MSXII Sound Design, a manufacturer of sample packs and sonic tools. MSX’s more than 200G sample library is now available to FL Studio users through FL Cloud.
Udio, a new platform developed by former Google DeepMind researchers that allows users to create music using AI using text prompts and then share their creations with the app’s community of users for feedback and collaboration, has raised a seed funding round from investors incluidng a16z, Instagram co-founder/chief technology officer Mike Krieger, will.i.am, Common, Kevin Wall, Tay Keith, UnitedMasters and Oriol Vinyals, head of Gemini at Google.
Entertainment, hospitality and investment holding company Palm Tree Crew — founded by Kygo and Myles Shear — closed a strategic investment in Medium Rare, valuing the company at $50 million. Medium Rare partners with artists, celebrities and athletes to create live entertainment properties; examples include Travis Kelce’s Kelce Jam and Guy Fieri’s Flavortown Tailgate. As part of the deal, Medium Rare will partner on select events and festivals within the Palm Tree Crew holding company. The two companies will also work together on developing new festivals and live experiences.
Oak View Group signed a partnership with the University of Kansas to be the stadium operator for the Gateway District — the future home of Kansas Football and convention center events and conferences — and the reimagined David Booth Kansas Memorial Stadium. Oak View Group will additionally manage food and beverage services and suite catering for all Kansas Athletics venues. It will oversee the day-to-day operations of both the football stadium and conference center when the first phase of the Gateway District opens in August 2025, leading bookings of conference events, concerts and more. Oak View Group will additionally play a key role in the current Allen Fieldhouse upgrades, managing all food and beverage and hospitality in the arena.
AI-driven funding platform beatBread partnered with Kobalt Music Group for publishing administration in the United States and amra for digital licensing and collections internationally. The agreements allow beatBread to extend its existing funding of publishing rights to artists who are currently unpublished and under-collecting their performance and mechanical revenues.
Entertainment company NTERTAIN and The Official Latino Film Festival merged to form the NVISION Film & Music Festival. The festival will feature a mix of film screenings, music performances, art exhibitions, technology showcases and conference-style panels and presentation. It’s set to take place Oct. 10-12 at the Palm Springs Art Museum in Palm Springs, Calif.
The city council of McKinney, Tex. approved the development of the Sunset Amphitheater being built in the town by Notes Live. The agreement includes a public-private partnership between Notes Live, the city, the McKinney Economic Development Corporation and the McKinney Community Development Corporation. The project is estimated to be bringing in more than 1,300 direct and indirect jobs to the community, with an economic impact of around $3 billion to the area over the first 10 years.
Musically Fed, which redistributes surplus backstage and VIP meals to veterans and those facing homelessness and food insecurity in the United States, will once again partner with Live Nation-Hewitt Silva (LNHS) to handle surplus catering at forthcoming LNHS events at the Hollywood Bowl. The organization will also re-team with TaDa! Events to repurpose unused catering for communities in need via several L.A. nonprofits.
Feed.fm partnered with AI company Cyanite for AI-based tagging and music search to enhance discoverability on its platform. Under the deal, Feed.fm will use Cyanite’s technology to enhance the metadata Feed.fm’s compliance and recommendation engine uses to stream curated music for each listener.
The estate of Ronnie Spector, best known as the lead singer of iconic girl group The Ronettes, has enlisted Artist Legacy Group (ALG) to be its exclusive representative. Under the deal, ALG will provide comprehensive management services for the estate, including oversight of Spector’s personality rights and administration of her official digital and social media assets. ALG CEO Ashley Austin will also spearhead branded media, licensing and anniversary projects. A film adaptation of Spector’s memoir, Be My Baby, is currently in development at A24. Spector’s husband, Jonathan Greenfield, serves as managing director of the estate.
Lil Yachty launched Concrete Rekordz, a new record label joint venture with Quality Control Music/HYBE. The announcement was accompanied by “Family Business,” a new track and music video from Concrete Boys — a group composed of Lil Yachty, Karrahbooo and Camo! — that will make its home on the label. The group is slated to release its first compilation album, It’s Us Volume 1, on Friday (April 5).
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Dubai-based streaming platform OSN+ and music streaming service Anghami announced the completion of OSN+’s purchase of a majority stake in Anghami after receiving all necessary regulatory approvals. First announced in November, the merger puts OSN+ parent company OSN Group’s majority stake in Anghami at a valuation of $3.69 per share. According to a press release, the deal creates a company that boasts more than 120 million registered users, around 2.5 million paid subscribers and nearly $100 million in revenue at closing while bringing together OSN+’s library of 18,000 hours of video content with Anghami’s catalog of more than 100 million songs and podcasts. The combined entity will be led by Elie Habib, co-founder/CEO of Anghami, as CEO. Joe Kawkabani will remain CEO of OSN Group.
Virgin Music Group has partnered with 3AM Entertainment, a new label founded by British-Indian artist Jay Sean, producer/executive Jeremy Skaller and Jared Cotter, manager/vp of music at Range Media Partners. 3AM will focus on artists from the South Asian diaspora of all different genres. The first release under the deal is “Heartless,” a new single from Jay Sean featuring Ikky that’s slated for release on Friday (April 5); it will be followed by an album. Skaller and Cotter will serve as co-presidents at the new label, with Cotter continuing in his role at Range. Elsewhere, Sean’s longtime manager, Thara Natalie, will be chief operations manager; Madison Bickel will serve as GM; and Mahima Sharma will serve as an A&R out of New Delhi, India. Additionally, Sean’s co-manager, Aayushman Sinha, and his team at management company Represent will consult on A&R and strategy out of Mumbai, India.
Soundmouse by Orfium was selected as the official music reporting partner for broadcasters in South Korea by the South Korean Broadcast Music Identifying System (BROMIS), a consortium led by major broadcasters including KBS, MBC, SBS and four collecting societies. Under the three-year agreement, Soundmouse by Orfium’s music cue sheet reporting and audio recognition fingerprinting technology will be used by 36 broadcasters to track music usage across 175 TV channels and radio stations in Korea. Soundmouse by Orfium’s reports will be used to inform royalty distributions to songwriter, artist, producer and rights holder members of South Korean collecting societies. The deal was supported by the South Korean Ministry of Culture, Sports and Tourism and the Korean Copyright Commission.
Danny Wimmer Presents (DWP) acquired two music festivals: Rocklahoma and Born & Raised, both of which are held at Rockin Red Dirt Ranch in Pryor, Okla. DWP will continue working with Pryor Creek Music Festivals, the original creator of both festivals, while several remaining stakeholders will remain involved in both events in 2024 and beyond. This year’s Rocklahoma is slated to run from Aug. 30-Sept. 1 with headliners Avenged Sevenfold, Disturbed and Slipknot. Born & Raised will take place Sept. 13-15 with Turnpike Troubadours, Whiskey Myers, Gary Allan and more.
BMG has acquired Dr. Alban‘s recorded interests in his catalog, including ’90s Eurodance hits “It’s My Life” and “Sing Hallelujah!” The company already owned the label share of the recordings. The catalog of the Nigerian-born Swedish artist and producer, born Alban Nwapa, also includes tracks such as “Hello Afrika” and “No Coke.”
Numero Group announced a partnership with New York indie rock label Tiger Style Records. Under the deal, Tiger Style’s catalog of 40 albums and a dozen EPs have been absorbed into the Numero Group ecosystem, including works by The American Analog Set, The Appleseed Cast, The Mercury Program, Tristeza, Her Space Holiday, The Album Leaf, Rye Coalition and Ida. Formed in 1998, Tiger Style, once owned by online music retailer Insound, went on hiatus more than 20 years ago. Much of the label’s discography is now available digitally via Numero Group, with several physical LP reissues and box sets slated for next year.
Industrial-focused private equity firm Allied Industrial Partners made an investment in Celebrity Coaches, a Nashville-based provider of transportation and logistics for the live entertainment sector. Celebrity Coaches will continue to be led by its founder, Jeff Michael, who will retain an ownership stake along with other members of the company’s management team including Josh Trivett.
ASM Global signed a multi-year booking agreement with Nevada tavern and slot route operator Golden Entertainment for exclusive booking rights to the company’s Laughlin Event Center and The Edge Pavilion — two music venues located at the Edgewater Casino Resort.
Music data company Musixmatch partnered with Runway in a deal that will bring the latter’s AI-powered media generation technology to the more than 1 million artists and musicians in the Musixmatch community, which will have access to Gen-2 and other Runway models to create synchronized lyrics and videos.
WavMaker, a music licensing platform that offers a music catalog for video creators featuring songs that have been cleared for commercial use, launched with $5 million in seed funding. The company was founded by CEO Matt Arcaini, director of label services Mark Stuart and director of marketing Caleb Grimm. The funding round was led by Vicky Patel, a principal in the Nashville-based record label Wavy Records and co-founder/principal at Monarch Media. The funds will be used to expand the platform’s capabilities, hire staff and increase customer outreach.
Business-to-business music and streaming platform Tuned Global partnered with international travel media network Spafax, which provides content technology and media assets for airlines to power cleared music playlists in in-flight entertainment systems. Spafax clients include Emirates, Qatar Airways, IAG, Lufthansa Group and Air Canada. Through the deal, Tuned Global will provide music-as-a-service a content management tool for Spafax curators to generate playlists. Spafax will also benefit from Tuned Global’s integration with music rights management and reporting company Crunch Digital, which verifies musical works available for use under Spafax and airlines’ existing music licenses with record labels and publishers.
Merlin and Deezer announced a new partnership through which Deezer’s artist-centric royalty model will be integrated across Merlin’s membership of independent record labels, distributors and other rights holders. The model, which is currently being rolled out in France, is designed to reward artists and tracks that are viewed as playing a part in attracting and retaining subscribers to the platform while excluding white noise and other types of “functional” audio from the royalty pool.
“We have worked with Deezer to ensure their new model works for the benefit of our members, representing a path forward in ensuring that high-quality music, and the artists who create it, are recognized and rewarded in the manner they deserve,” said Merlin CEO Jeremy Sirota in a statement.
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Added Deezer CEO Jeronimo Foglueira: I’m very happy to see that Merlin and its members are embracing Deezer’s artist centric model and joins us in redefining artist remuneration in the streaming era, to make sure artists are paid more fairly for their music.”
Warner Music India made a strategic investment in Global Music Junction (GMJ), the music and entertainment subsidiary of digital entertainment and technology company JetSynthesys. The move gives Warner Music India a seat on the board of GMJ and expands its partnership with the company, with which it previously struck a distribution deal in 2021. GMJ — which provides services including content creation, events management, innovative distribution, marketing solutions, technical analytics, and legal expertise — is a leader in the music markets for the Bhojpuri, Kannada, Gujarati, Haryanvi and Oriya languages. “This is a significant milestone in the expansion of our presence across India,” Alfonso Perez Soto, president of emerging markets at Warner Music, said in a statement. “Working with the amazing team at GMJ last year not only strengthened our partnership, but enabled us to better support artists from the central regions of India, bringing them the best artistic support that any company can provide, and helping them connect with fans across the country and around the world.”
AEG Presents and LIV Golf announced an exclusive multi-year partnership that will see AEG and its subsidiary, Concerts West, booking musical acts and producing concerts for LIV Golf events globally. Since launching the LIV Golf Invitational Series in 2022, followed by the official kickoff of the LIV Golf League last year, artists including Zac Brown Band, Tiësto, Nelly, Sebastián Yatra and Alesso have performed at LIV Golf events. Starting this spring, AEG Presents and its Concerts West subsidiary will book musical acts and produce concerts for LIV Golf tournaments worldwide, handling talent booking, artist management, show/venue planning, creative development and technical production.
The City of McKinney, Tex., which is a major hub in the Dallas-Fort Worth area, chose Notes Live to build what will be the company’s largest venue yet: the 20,000-capacity, $220 million open-air Sunset Amphitheater. The effort to bring the venue to McKinney was a joint effort between the city, the McKinney Economic Development Corporation and the McKinney Community Development Corporation. Construction on the Sunset is slated to begin late this year, with the aim of opening it in time for the concert touring season in 2026. The project is expected to support more than 1,300 direct and indirect jobs and create $3 billion in regional and local economic activity in its first 10 years of operation.
Audio entertainment platform Pocket FM raised $103 million in Series D funding led by Lightspeed with participation from Stepstone Group. The latest round brings Pocket FM’s total funding to date to $196.5 million. The money will support the company’s push into the U.S. market while also supporting its expansion into Europe as well as Latin American markets in 2024. Pocket FM will also continue to strengthen its exclusive content library and build AI-powered personalized recommendations to enhance the user experience. The company claims to have surpassed $150 million in annual recurring revenue and says the platform racked up more than 75 billion minutes of streaming worldwide last year.
Warner Music South East Europe acquired a minority stake in Slovenian independent label NIKA. The label boasts a repertoire of more than 11,000 songs, including tracks from Big Foot Mama, Koala Voice, Luka Basi, Nipke and Siddharta. The label’s releases are currently distributed through Warner’s indie distribution and label services arm ADA. The deal will allow Warner Music to upstream NIKA’s roster to its international network. NIKA has been Warner Music’s licensee in Slovenia since 1995.
Melissa Etheridge partnered with Gritty In Pink, which powers the INPINK marketplace — a platform, described as being similar to Upwork, where female freelancers in music can find jobs. Through the partnership, female videographers can submit an INPINK listing to showcase their work to be considered for a job capturing and editing content at Etheridge’s upcoming shows in Santa Clarita, Calif., and Thousand Oaks, Calif. Those interested can submit their listings between Mar. 20 and Mar. 28. Etheridge will also serve as a “strategic advisor” for the INPINK marketplace. Prior to the partnership, the singer-songwriter hired an INPINK videographer to shoot her tour last year and ran a photography campaign with INPINK to find a female photographer to take press photos.
ASM Global signed a strategic partnership with King Abdullah Financial District Development and Management Company (KAFD DMC) to lead the operation and management of the King Abdullah Financial District (KAFD) Conference Center in Riyadh, Saudi Arabia. The conference center includes a 1,215 square-meter banquet hall, a 600-seat auditorium and multiple outdoor plazas.
NightEvolution — which owns Ibiza dance music clubs Amnesia and Cova Santa and Amnesia’s in-house night Pyramid — joined forces with Dubai developer Sekoya Management, which owns Dubai venue Soho Garden and its electronic music sub-brands/venues Code, Playroom and Hive. Under the agreement, NightEvolution and Sekoya will present a new events series called Horizon in Ibiza, Dubai and elsewhere.
AI-powered beat and track generator SOUNDRAW drew $3 million in new funding led by Carbide Ventures, along with other investors including mint VC, Ceres, iSGS, SMBC Venture Capital, Deepcore, Kazuomi Kaneto and Paul Rosenberg, CEO of Goliath Artists and president of Shady Records.