Universal Music to Buy RS Group Catalog in Thailand, Establish Partnership in Fast-Growing Market

📆 03/07/2023 03:30:00
📰 Variety

⏱ Reading Time:
9 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Universal Music Group has struck an agreement to acquire majority control of the second largest music catalog in Thailand, one of the fastest growing music markets in Asia. It is buying 70% of the …

Universal Music Group has struck an agreement to acquire majority control of the second largest music catalog inRS GroupIn its regulatory filing, RS group said that UMG is paying $45 million for the stake and that earn-out payments could lift this by a further $44.9 million . The deal is expected to close in the third quarter of the year.

Thailand’s recorded music sector’s revenue grew by 20% in 2022 to surpass $100 million for the first time ever according to IFPI’s Global Music Report, 2022.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SiriusXM’s Market Cap Grew $2.7B This Week as Music Stocks Saw Healthy GainsThe Billboard Global Music Index rose 2.5% this week and finished the midpoint of 2023 up 13%.
Source: billboard - 🏆 112. / 63 Read more »