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Sony and Warner each net millions from Spotify stock sale

Spotify’s direct listing on the New York Stock Exchange marked a new chapter for the streaming music service, and the action has continued to make waves in the industry. The latest developments are that two of the major labels that were early investors in Spotify during its startup days have sold portions of their shares. Continue Reading

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Warner attempts to exit CD-related employees, for more streaming investment

Warner Music Group (WMG) is reportedly attempting to ease 130 employees out of the company, offering them buyouts. According to Billboard, those staffers “deal with physical product,” which probably means the CD part of Warner’s business. The action is targeted within WEA, the distribution, marketing and sales division of WMG. Billboard’s sources indicate that the projected cost saving would be applied to distribution and marketing of streaming music. Continue Reading

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Rumor Fact(ory): TuneIn reportedly sued in UK for copyright breach

Music Business Worldwide is reporting that two of the major labels have started legal proceedings against TuneIn UK around possible breach of copyright. Sources told the publication that the suit alleges the UK branch of the online audio company had at least 800 unlicensed music streams in that market. Continue Reading

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Apple reportedly renegotiates lower payments to Warner

Apple has reportedly inked a new licensing deal with Warner Music Group. Unnamed sources told Bloomberg that the updated arrangement will see Apple paying a smaller share of its revenue. The tech company may also be near to a similar deal update with Sony Music Entertainment, although does not appear to have progressed in talks with Universal Music Group. Continue Reading