HYBE Launches Label Services Business in the U.S.

HYBE Launches Label Services Business in the U.S.

HYBE, the South Korean music company behind BTS and SEVENTEEN, has introduced a new global strategy under its newly appointed CEO, Jason Jaesang Lee. A key part of this strategy, dubbed "HYBE 2.0," is the company’s entry into the highly competitive U.S. label services market.

With its U.S. division, HYBE America, led by CEO Scooter Braun, HYBE will focus on providing distribution and services for independent artists. The company, which generated $1.66 billion last year, aims to establish a strong foothold in this lucrative sector.

AI Companies Admit Using Unlicensed Music

AI startups Suno and Udio have admitted in court to using copyrighted music for training their systems. The companies, sued by major record labels including Sony, Universal, and Warner, claim their actions fall under the “fair use” exemption in U.S. copyright law. The Recording Industry Association of America (RIAA) has called this admission a significant concession after months of evasion by the companies.

Damon Dash’s Roc-A-Fella Stake for Auction

Damon Dash’s 33.3% stake in Roc-A-Fella Records is set to be auctioned following his failure to pay an $823,000 settlement. The auction, scheduled for August 29, will start at a minimum bid of $1.2 million.

New Standards for Ethical AI Music Training

The non-profit organization Fairly Trained, which certifies AI companies for ethical practices in music training, is tightening its certification standards. The new rules require developers to disclose which parts of their AI architecture meet ethical guidelines.

Beatchain and Radio City India Launch Artist Discovery Platform

Beatchain, a UK-based music tech company, has partnered with Radio City India to launch ‘Muzartdisco,’ a platform for independent Indian artists to release and promote their music. The platform will be powered by Beatchain’s white-label technology.

AP Dhillon Inks Deal with Republic Records

Punjabi music star AP Dhillon has signed a “groundbreaking” deal with Republic Records and Universal Music Canada, further expanding his global reach.

Believe's 2024 Revenue Growth

Paris-based Believe reported a 12.3% year-over-year revenue growth for the first half of 2024, generating $510 million. The company attributed its growth to strong paid streaming trends, despite challenges in ad-funded streaming, particularly in Asia.

Warner Music Eyes Acquisitions

Following its interest in Believe, Warner Music Group is expected to pursue further acquisitions in the independent distribution and services sector as part of its ongoing strategy to expand market share.