Hipgnosis now has $188m more to spend, via loan facility from banks including JP Morgan

Herbert Smith Freehills, who advised Hipgnosis, says new money is “testament to the confidence of investors”
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A very positive sign: Music stream spending is rising in the US, even amid Coronavirus lockdown

News is in contrast to report out of Spain earlier this month
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Live Nation to slash costs by up to $500m this year as boss Michael Rapino sacrifices $3m annual salary

Michael Rapino: “[We] believe that Live Nation has the financial strength to weather this difficult time.”
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Austin Daboh leaving Apple for senior role at Atlantic Records UK

Former Spotify exec hired in EVP position at major record company
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Apple Music launches $50m advance fund for independent labels hit by COVID-19 impact

And MBW’s sources suggest that Apple’s global subscriber numbers continued to grow month-on-month in March
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Dream Life Records, headed by Dan Owusu, Lunick Bourgess and Shane Derozario, launched by Jason Iley at Sony Music UK

Jason Iley (Chairman and CEO, Sony Music UK & Ireland) has announced the launch of a new label, Dream Life Records, which will be run by three of the UK music industry’s rising stars, Dan Owusu, Lunick Bourgess and Shane Derozario. According to Son…

‘Big Brother for TikTok stars’ launches under lockdown in UK… and record labels want a piece of it

“The Bytesquad are some of the most entertaining and talented people there are and I’m extremely excited to see what we can cook up.”
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Tributes for artist manager Gary Salzman, who dies of complications caused by COVID-19

“Rest in peace to my amazing, long time friend.”
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Mike Smith steps down as Warner Chappell’s UK Managing Director

Guy Moot and Carianne Marshall “We’re sorry to see Mike leave and we wish him all the very best for the future.”
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Sony Music Group boss Rob Stringer: ‘Whatever lies ahead, we will continue to put our employees, artists, and songwriters first.’

“Like every business affected by this crisis, we now know that the next 12 months will bring challenges. Nevertheless, I am confident that we have what it takes to overcome the headwinds we’re facing.”
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