Screw you, Coronavirus. At least music’s streaming business is still booming.

How are music streaming services faring in a COVID-19-hit world?
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Universal claims 80%-plus share of 2019’s Top 10 biggest global artists… led by Taylor Swift

Major has signed and/or distributes eight of this year’s biggest acts (and also works with BTS)
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Tencent, set to control 10% of Universal, also owns 9.1% of Spotify – but Daniel Ek has the final say on firm’s stake

Spotify’s founder and CEO has control of voting shares linked to Tencent’s stake in his company
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Tencent’s Move to Buy 10% of Universal Music Group Shows the Global Music Business Is In Excellent Health

Nue Agency founder Jesse Kirshbaum on the biggest music biz deal of the year
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Official: Universal Music Group to sell 10% stake, worth over $3bn, to Tencent-led Consortium

“Tencent and the Consortium members are excited to support UMG’s growth through this investment.”
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Tencent’s Universal bid needed rescuing – but might now go as high as 30% (report)

Tencent’s bid for 10-20% of Universal nearly fell through, but now it probably looks back on track
The post Tencent’s Universal bid needed rescuing – but might now go as high as 30% (report) appeared first on Music Business Worldwide.
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