It's deal time in the music business, and more companies raise more money to buy up music rights.
The new raise makes Concord one of the best-funded parties in the burgeoning music M&A sector, where its rivals include the likes of Hipgnosis Songs Fund, Downtown, Primary Wave, Round Hill, Kobalt Capital, Tempo Music Investments and Reservoir.
TikTok Makes A Deal (NYT)
By partnering with UnitedMasters, the app is aiming to bolster its appeal to independent-minded artists who operate outside the traditional industry machinery.
The company plans to buy copyrights in performance and writers shares, primarily through its Harmony iP asset release program.