Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs.
When the world’s biggest music rightsholder spends an eight-figure sum on an acquisition, it’s time to sit up and take notice.
That’s what happened over the past week, as Universal Music Group confirmed its acquisition of a majority stake in Thailand’s RS Group.
The fee?
As revealed by a public filing in Thailand, UMG is spending an initial USD $45.5 million on the buy – which is expected to close in Q3 – followed by a potential additional $4.9 million.
Elsewhere this week, TikTok confirmed that its new Spotify-rivalling subscription music app – TikTok Music…
