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Digital Economy

Metaverse UGC platform BUD raises $36.8m in Series B funding round

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Singapore-headquartered BUD, a metaverse user-generated (UGC) platform, has completed a $36.8M Series B round led by Sequoia Capital India, with participation from ClearVue Partners, NetEase and Northern Light Venture Capital. Existing investors GGV Capital, Qiming Venture Partners and Source Code Capital also participated in the round.

The company said it intends to use the new funding "to further develop its creation tools, grow its global user base and roll out web3 products for its meta...

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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).

Creative Industries

Music deals — Week 21, 2024

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Here's a list of the main deals announced this week:

WCM’s Damian Trotter and Kevin Parker

Sony Music Publishing (SMP) has acquired the catalogue of songs from singer, songwriter, producer and multi-instrumentalist Kevin Parker, the frontman of Australian rock band Tame Impala. The deal — the terms of which were not disclosed — expands SMP’s longstanding partnership with Parker. SMP has been representing Parker’s entire catalogue of songs since 2009 and will continue to represent his futur...

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Creative Industries

Quotes of the week — Week 21, 2024

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"Nine months later, my friends, family and the general public all noted how much the newest system named 'Sky' sounded like me. When I heard the released demo, I was shocked, angered and in disbelief that Mr. Altman would pursue a voice that sounded so eerily similar to mine that my closest friends and news outlets could not tell the difference."By American actress Scarlett Johansson, reacting to the release of 'Sky', a voice created by artificial intelligence by OpenAI's ChatGPT system that so...

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Creative Industries

Key figures — Week 21, 2024

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12.32 billion

That's how many streams have been accumulated on Spotify by Olivia Rodrigo's 2021 album 'Sour' since its launch, becoming “the most streamed album by a female artist in Spotify history.” Or average, each of the 11 tracks have been played 1.12 billion times, according to the streaming platform. 

£7.1 billion

That's the value of the British book publishing sector in 2023, up 3% over the previous year, according to the ’Publishing in 2023’ report from the Publishers Associat...

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