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Digital Economy

Overtune closes a $2 million seed round

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Reykjavik, Iceland-based Overtune has closed a $2 million seed round with investment from Gabe Jagger's media company Whynow.

Overtune was founded in 2020 by Sigurdur Arnason, Jason Dadi Gudjonsson and Petur Eggerz Petursson. Overtune's shareholders include Charles Huang, founder of gaming franchise 'Guitar Hero', and Nick Gatfield, former CEO and chairman of Sony Music UK).

"I am thrilled to have Gabriel and the Whynow team on board at Overtune. In a few short weeks they have impressed m...

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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).

Copyright & Regulation

The UK’s CMA completes its market study into music and streaming services without calling for a full market investigation

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The UK's Competition & Markets Authority (CMA) has concluded its market study into music and streaming services by deciding not to undertake a full market investigation, considering that the outcomes from streaming "are good for consumers."

"We have found that it is unlikely that the outcomes that concern many stakeholders are primarily driven by competition," reads the final report from the CMA. "Consequently, it is unlikely that a competition intervention would improve outcomes overall...

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Creative Industries

Key figures — Week 45, 2022

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$5.9 billion

That's the total revenue for fiscal year 2022 posted by Warner Music Group, up 12% over the year before. OIBDA reached $1.1 billion, up 13% year-on-year. 

$511 million

That's how much Elton John's 'Farewell Yellow Brick Road' tour has grossed worldwide, according to trade magazine Pollstar. John played 164 shows with more than 3.6 million tickets sold. The tour ended with a three night sold-out series of concerts at Los Angeles' Dodger Stadium.

CAS$ ...

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Creative Industries

Quotes of the week — Week 45, 2022

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“As streamers have proliferated, they have really ended back-end participation, and so this is partly an effort to try to recapture some of that value and share it in a way that’s more equitable. Not just writers and directors and stars. But also cinematographers, editors, costume designers and other crucial artists who, in my view, are very underpaid.”By US actor and filmmaker Ben Affleck in an interview with The New York Times as he just announced plans to create a new production company with...

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