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INDUSTRY NEWS

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

Recently, two of the major labels Waner Music Group and Sony Music sold several of their stakes in Spotify 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 huge 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 event they want acquisitions.  Spotify granted the labels equity several years ago when it was a fraction of the current value.

 

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