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Tencent Music Paying $415 Million for Lazy Audio

Variety reports: "Tencent Music Entertainment, which is already China’s biggest online music platform, is planning on getting bigger through the proposed acquisition of Lazy...

Spotify Stock Slips After Analysts Cast Doubt on Success of Podcast...

Variety reports: "Shares of Spotify took a hit after analysts at Citi downgraded the stock because the audio-streaming giant hasn’t shown “any material benefit”...

Indie Label Vets Launch Investment Fund Exceleration Music, Partner With Alligator...

Billboard reports: "A quintet of indie label veterans have joined together to launch a new investment fund with the goal of supporting artists, creators...

Judge Upholds Major Labels’ Billion Dollar Copyright Victory Against Cox Communications

Music Business Worldwide reports: "On Tuesday (January 12), a federal judge in Virginia upheld a $1 billion copyright infringement award won by Sony, Universal...

Capitol Studios Shutters Its Mastering Division

Variety reports: "The mastering department at the famed Capitol Studios in Hollywood has been shut down, with several employees laid off, Universal Music Group...

Audible Magic Acquires SOCAN’s MediaNet

Hypebot reports: "Canadian PRO SOCAN has sold its global content fulfillment and rights administration service MediaNet to Audible Magic." Read more  

SiriusXM Warns of $1 Billion Impairment Charge for Pandora

The Hollywood Reporter reports: "The audio entertainment giant forecasts a non-cash hit from per-play royalty payments to copyright holders for its music streaming service...

Spotify Purged Tens of Thousands Of Tracks For ‘Fraudulent Streams’

Hypebot reports: "Spotify has purged tens of thousands of tracks for allegedly using services that fraudulently inflate streams. Music industry attorney Wallace Collins wrote...

RealNetworks Completes Sale of Napster to MelodyVR in $70.6m Deal

Music Business Worldwide reports: "Originally announced in August 2020, RealNetworks’ sale of US-based Spotify rival Napster to UK-based virtual reality music company MelodyVR is...

Alibaba to Shutter Its Xiami Music App Next Month

Variety reports: "Alibaba Group announced Tuesday that it will close down its streaming platform Xiami Music on Feb. 5, as it struggles to keep...