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Warner Music Group partners with digital fashion retailer DRESSX

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Warner Music Group (WMG) has acquired a minority share in digital fashion retailer DRESSX, in a deal that will bring the fashion metaverse to WMG's artists.

The partnership will "enable artists to unlock new revenue streams, while creating additional outlets for fans to showcase their fandom across multiple digital worlds," according to a statement from the company.

WMG said the first-of-its-kind partnership will "provide a platform for select WMG artists to design their own virtual fashi...

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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).

Litigation

Appeals court reverses verdict enjoining Cox Communications to pay record labels $1 billion in copyright infringement case

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The 4th US Circuit Court of Appeals in Richmond, Virginia has overturned an earlier decision condemning Cox Communications to pay $1 billion in damages to a group of record companies after a jury found the cable and internet service provider liable of customers' infringement of over 10,000 songs .

Cox was accused of not taking measures to address piracy on its networks despite multiple requests from rights holders. After a lengthy court case, a jury found in favour of Plaintiffs, over 50 rec...

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Creative Industries

Music deals — Week 7, 2024

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Here are some of the main music deals announced in the past week:

Iconic Artists Group, the music rights company set up by Irving Azoff, has secured a strategic investment from global investment firm HPS Investment Partners (HPS). Iconic’s goal is to deploy up to $1 billion to acquire music assets through HPS financing, together with senior debt financing from third parties. Iconic plans to acquire and manage a diverse portfolio of “legendary artists’ music assets.” “With HPS’ support, Ic...

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Creative Industries

Disney narrows losses at streaming service Disney+ as total revenue reaches $23.5bn

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The Walt Disney Company posted revenue of $23.5 billion for its first quarter ending December 30, 2023, stable compared to the same period the previous year, as the entertainment and media company reported operating income of $3.84bn, up 27% compared to the same quarter a year prior.

Revenue dropped 7% to $9.88bn in the Entertainment segment, which includes the company's TV assets such as streaming service Disney+, but were up 4% in sports to $4.83bn and 7% in Experiences at $9.12bn. However...

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