Warner Music’s Acquisition Group Raises $535 Million — and They Could Spend It on Any Number of Things

Jem Aswad Senior Music EditorLive Nation Entertainment, the world’s largest live-entertainment company, has closed its long-in-the works acquisition of a 51% controlling interest in OCESA Entretenimiento, a leading promoter in Latin America. The aggregate purchase price was MXN $8,835 million (around U.S.

Jem Aswad Senior Music EditorBroadly speaking, record-label bosses tend to have similar backgrounds, rising through A&R, promotion or management ranks, usually hitting a massive success that lands them the big job. And while Max Lousada, Warner Music Group’s head of recorded music, has followed some of that model, his background is unusual by any stretch, and is reflected not just in WMG’s approach to music but in the roster itself.

Todd Spangler NY Digital EditorGaming media and esports company 100 Thieves said it secured a $60 million third round of funding, which the company claimed brings its valuation to $460 million.The Series C was led by Green Bay Ventures with participation from existing and new investors including Breyer Capital, Aglae Ventures, Tao Capital, Willoughby Capital and Artist Capital Management.With the new funding, 100 Thieves is eyeing “strategic acquisitions” in the gaming space as well as the

UTA has become the latest talent agency to play in the public markets, forming a special-purpose acquisition company that will start trading tomorrow on the NASDAQ.

Jem Aswad Senior Music EditorIn this week’s installment of Strictly Business, Variety’s weekly podcast featuring conversations with industry leaders about the business of media and entertainment, TaP Music’s Ed Millet and Wendy Ong go deep about the rewards and challenges of managing such prominent and pioneering artists as Lana Del Rey, Dua Lipa, Ellie Goulding, Caroline Polacheck, Noah Cyrus and many more.The conversation starts with Millet discussing founding the company in 2010 with his

Jem Aswad Senior Music EditorApple Music has unveiled its biggest songs of the year with its annual Top 100 charts, which not only include the most-streamed songs — topped by BTS’ smash “Dynamite” but it has also shared its “Top 100 2021: Fitness” chart—spotlighting the most-played workout music across Apple Music and Fitness+— its top 100 most-Shazamed songs and its top 100 most-read Lyrics.Following “Dynamite” in the top 5 are Olivia Rodrigo’s “Drivers License” (which had the most-read

Jem Aswad Senior Music EditorAmong the many musicians paying tribute to the top designer Virgil Abloh, who died on Sunday at the age of just 41 after a battle with cancer, Frank Ocean took to Instagram to make a rare statement about his friend, who founded the Off-White line and was Louis Vuitton Menswear’s artistic director.“In 2018 I believe it was I called V and asked him how it was possible to play hundreds of shows a year and do numerous fashion collections a year and be a father and a

Jem Aswad Senior Music EditorFor the most part, David Bowie’s career can be divided into eras by decade — the ‘60s, when he tried almost anything to make it (Mod-pop, Buddhism, folksinging) and mostly failed; the ‘70s, when he released some of the most exciting and innovative albums in music history; the ‘80s, when he got a taste of platinum success with “Let’s Dance” and lost his muse; and the period encapsulated in the latest career-spanning boxed set, “Brilliant Adventure: 1992-2001” — when

Lokomotiv Moscow's former president slammed Ralf Rangnick for 'only caring about money' ahead of his appointment as Manchester United's interim manager.

Todd Spangler NY Digital EditorPodimo, a Copenhagen-based podcast and audio entertainment subscription service, said it closed $78 million in a Series B round of funding.The round brings Podimo, founded in 2019, to about $115 million raised to date. The latest round was led by 83North and Highland Europe, with participation from existing investors Chr.

Three suspects are in police custody today after they were arrested in connection with a reported smash-and-grab robbery at L.A.’s popular The Grove shopping center. Other suspects remain on the loose. It’s the latest in a string of mass looting incidents targeting upscale stores in Los Angeles and San Francisco.

dystopian nightmare.” Rather, the company’s vision with AR technology is to use tech to bring people closer to the real world. “We’re building a future where the real world is overlaid with digital creations, entertainment and information, making it more magical, fun and informative,” Hanke said in a statement Tuesday.

Jem Aswad Senior Music EditorApple Music has released an expanded, exclusive holiday collection with its second annual “Carols Covered” playlist, available in Spatial Audio.

Jem Aswad Senior Music EditorSting is in advanced talks to sell his song catalog for upwards of $250 million, multiple sources tell Variety. While some sources say that Universal Music Publishing is in the lead, others say the catalog may remain with Sony Music Publishing, where it is currently.

Jem Aswad Senior Music EditorWarner Music Group has announced the launch of WMX, a services division that is intended to connect artists with fans and amplify brands. The new division includes a rebranded WEA commercial services & marketing network, as well as the company’s media & creative content arm.

Jem Aswad Senior Music EditorAs expected, veteran agent Scott Clayton, who left his role as co-head of music at WME late last month, has joined UTA as co-head of its global music division and as a partner, the company announced Monday.Clayton and current UTA Global Music Co-Heads Sam Kirby Yoh and David Zedeck will together “create a powerhouse leadership trio spanning UTA’s New York, Los Angeles, and Nashville music hubs and further solidify the agency’s reach across all music genres,”

Jem Aswad Senior Music EditorWarner Music Group posted a solid fiscal fourth quarter and strong fiscal year results in earnings reported Monday, with revenue up 22.2% (20.8% in constant currency) driven by digital revenue growth of 19% (17.5% in constant currency) across recorded music and music publishing for the quarter; and revenue up 19% (15%) and net income of $307 million (versus a $470 net loss for 2020) for the year.

Jem Aswad Senior Music EditorSnap has struck a licensing deal with Sony Music Entertainment — which means the music of all three major labels/ publishers and many indies is now available on the platform (which prefers to be called a camera company, not a social media network).

Matthew Vaughn’s Marv is teaming with Warner Music Group (WMG) on joint venture Marv Music.