Home INDUSTRY NEWS Two Major Labels Looking at Gaining 1 Billion Selling Stakes in Spotify

Two Major Labels Looking at Gaining 1 Billion Selling Stakes in Spotify

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Recently, two of the major labels Waner Music Group and sold several of their stakes in Technology SA that will net approximately 1 billion in profit. Warner sold 75% for 400 Million and Sony sold 750 million which accounts for half of the company’s stake. The move by labels to invest was a wise one according to analysts who reference the labels massive layoffs over the years. Those same labels have seen a increase in profits because of streaming. The labels are able to use the money to pay their artists along with having the extra cash on hand in the they want acquisitions.  Spotify granted the labels equity several years ago when it was a fraction of the value.

 

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