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This week, Utopia Music turned the most recent firm to considerably lower the dimensions of its international workforce.
The acquisitive Switzerland-headquartered firm confirmed to MBW that it has made a variety of layoffs.
A Utopia spokesperson advised us that, “Like many development corporations in at present’s macroeconomic atmosphere, Utopia is making adjustments to its inner construction to optimize the enterprise”.
Information of job losses at Utopia follows a wave of layoffs sweeping throughout the tech-leaning facet of the worldwide music enterprise.
Additionally this week, Warner Music Group reported its monetary outcomes for calendar Q3 2022 (the three months to finish of September).
The corporate advised traders that it generated whole revenues of USD $1.497 billion throughout recorded music, music publishing and different actions, up 16% YoY at fixed foreign money.
This quarterly earnings announcement was the final in
Utopia Music has turn into the most recent firm to considerably lower the dimensions of its international workforce.
The acquisitive Switzerland-headquartered firm has confirmed to MBW that it has made a variety of layoffs.
Sources counsel these cuts have primarily are available Utopia’s central workforce – together with some high-level executives – in addition to its tech-focused workforce.
Thus far, Utopia’s tech workers have been tasked with constructing the agency’s proprietary music monitoring platform, generally referenced because the ‘Utopia Open Platform’ (UOP).
MBW understands that Utopia’s international workforce numbers 1,200 folks. That determine contains each contractors and round 800 workers…
Common Music Group-owned Deutsche Grammophon, which claims to be the world’s oldest file label, simply launched its personal high-res classical music streaming service.
Referred to as STAGE+, the service is described by Deutsche Grammophon in a press launch as “ground-breaking”. The label calls it the “newest milestone in classical music’s digital improvement”.
In line with the STAGE+ web site, a subscription for the service will price EUR €14.90 monthly, or €149 per 12 months…
Music funding platform beatBread has been making a whole lot of head-turning headlines this 12 months.
In February, for instance, the agency raised $34 million in a seed spherical led by Fintech-focused enterprise capital agency, Deciens Capital.
Over the summer time, beatBread struck what it mentioned was a “seven-figure artist financing deal” with singer-songwriter Elley Duhé – its greatest deal but.
Now, MBW can reveal that beatBread has huge plans to speed up its development within the artist funding house, and it’s simply closed a $100 million institutional fund with asset supervisor Variant Investments to take action..
US Senators Amy Klobuchar and Mike Lee of the Senate Judiciary Subcommittee on Competitors Coverage, Antitrust, and Shopper Rights, confirmed on Tuesday (November 22) that they may maintain a listening to to “study” what they are saying is a “lack of competitors within the ticketing trade”.
In a press launch, they write that listening to follows the “important service failures and delays on Ticketmaster’s web site that left followers unable to buy live performance tickets”.
Klobuchar and Lee mentioned that the listening to date and witnesses will probably be introduced at a later date…
