Bank of America has spearheaded a $230 million financing round for GoDigital, the parent entity behind Cinq Music, with additional backing from Mitsubishi UFJ Financial Group and several other institutions. The capital injection pushes the company’s cumulative fundraising past $1 billion, according to statements released on Monday. The Los Angeles firm announced organizational changes alongside…
A K-pop fan platform startup has purchased a controlling interest in Dreamus, the SK Group subsidiary that runs FLO music streaming and iRiver electronics, paying around 55 billion won or 38.5 million dollars for the shares. The company, bemyfriends, will take a 31.35 percent ownership position in Dreamus by buying stock from SK Group, Neospace…
A Seoul court has upheld the contract binding K-pop group NewJeans to ADOR, the HYBE subsidiary serving as their label, rejecting arguments that the company failed to meet its obligations. The Seoul Central District Court determined on Thursday, Oct. 30, that removing former chief executive Min Hee-jin did not violate the April 2022 agreement. NewJeans…
Universal Music has reached a settlement with Udio to resolve copyright claims and will partner with the AI music platform on a new service launching next year. The collaboration aims to create revenue streams for Universal artists and songwriters through a licensed system for music customization and streaming. The Music Artists Coalition raised concerns following…
Warner Music Group has expanded Dan Rosen’s responsibilities to include oversight of recorded music operations across six Southeast Asian nations: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Rosen will maintain his existing duties managing both recorded music and publishing for Australia and New Zealand. The executive assumes the title of President of Warner Music…
The head of Sony Music operations across Australia and New Zealand is leaving after a three-year tenure at the entertainment company. Vanessa Picken, who held the positions of chair and chief executive, announced her exit following completion of her contract term that began in 2022. Rob Stringer, the group chairman, expressed appreciation for her work…
A London management firm plans to organize annual creative sessions bringing South Korean musicians and songwriters to Britain for partnerships with local talent. Karma Artists, established in 2012 by Jordan Jay, intends to facilitate artistic exchanges between British and Korean music professionals through collaborative workshops supported by United Kingdom trade organizations and government entities. The…
A cabinet minister told business leaders on Monday that northeastern states represent an expanding zone for economic cooperation between India and France during remarks at an investment conference. Jyotiraditya Scindia, who oversees communications and regional development portfolios, characterized the gathering as connecting ambition with enterprise while celebrating bilateral ties rooted in confidence rather than formal…
The country plans to invest roughly 65,400 crore rupees through 2035 to manufacture jet engines domestically as officials push to eliminate reliance on foreign suppliers for military aircraft propulsion systems. S.V. Ramana Murthy, who directs the Gas Turbine Research Establishment, leads efforts to produce approximately 1,100 powerplants over the next 10 years for platforms ranging…
A federal cabinet member has directed insurers to immediately address payment irregularities affecting farmers enrolled in a national crop protection program after some claimants received compensation as small as one rupee. Shivraj Singh Chouhan, who oversees agricultural policy, convened a meeting on Monday in the capital to review the Pradhan Mantri Fasal Bima Yojana and…
