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Digital Economy

Songtradr raises $50m in a funding round valuing the company at $300m

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By Emmanuel Legrand

Los Angeles-based B2B music licensing marketplace Songtradr has completed a $50M Series D funding round, led by Australian based institutional investors Regal, Aware Super, Perennial, Argo and Greencape, and with a follow-on investment from Founder/CEO of Wisetech Global, Richard White.

"Attracting such a blue-chip investor base into this round further endorses our vision of the future music industry in this rapidly evolving digital world, providing a strong foundation for...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Digital Economy

TikTok’s Add To Music App is now available in 184 countries

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TikTok has rolled out its Add To Music App in 163 new countries, bringing to 184 the number of countries where the service is available.

The feature gives music users the ability to save the songs they discover on TikTok on the music streaming services of their choice. Partners include the major music streaming services such as Amazon Music and Spotify.

“With Add To Music App, we are streamlining the music discovery experience for both TikTok users and artists,” said Isaac Bess, Gl...

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Copyright & Regulation

Apple to be fined €500 million by the European Commission over streaming services’ access to the App Store — Report

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The European Commission is preparing to fine Apple up to €500 million for competition issues related to music streaming services' access to the app store, according to a report from the Financial Times.

The FT added that the fine was one of the most significant financial penalties the Commission has imposed on big tech companies. The newspaper, which cites "five people with direct knowledge of the long-running investigation."

The fine is expected to be announced early next month foll...

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Digital Economy

Nvidia invests $3.67m in SoundHound AI

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Chipmaker Nvidia has disclosed that it has invested $3.67 million in SoundHound AI, a Santa Clara, California-based company specialised in voice artificial intelligence.

The disclosure of the investment, made via a in a Securities and Exchange Commission 13F filing, sent SoundHound's share up 55% on the day it was announced. Nvidia, whose market capitalisation now exceeds that of Amazon and Alphabet, first invested in SoundHound in 2017.

SoundHound is expected to release its 2023 full ye...

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