Music News
News and insights from the world of digital music, media, and technology.
Concord vs. Blackstone
Concord offered $1.51 billion to acquire Hipgnosis Songs Fund's assets, slightly surpassing Blackstone's $1.5 billion bid. Blackstone advised shareholders to hold off on any actions as they contemplate next steps.
TikTok's US Challenges
Following the new US law requiring divestment or a ban, ByteDance, TikTok's parent company, may shut down TikTok in the US rather than sell it without its key algorithm, despite differing reports about selling the operations.
Spotify's Growth and Profit
Spotify's subscriber base increased to 239 million, contributing to its largest quarterly profit of $182 million. Following the earnings announcement, Spotify's stock rose, and CEO Daniel Ek sold 400,000 shares.
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