In The Know: SoStereo's Weekly Music News Summary 4/20/18 - Magnetic Magazine

In The Know: SoStereo's Weekly Music News Summary 4/20/18

SoStereo's weekly music advertising and news round-up with notes from UTA, Amazon and Vivendi.
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UTA Acquires Circle Talent Agency:

United Talent Agency, UTA, is going EDM and acquiring Circle Talent Agency, which represents names like Kaskade, Illenium, Excision, Elohim, Goldie, Marshmello, Jody Wisternoff, Andy C and DMX. The terms of the deal were not disclosed, but now Circle’s roster will have access to UTA’s practice across film, TV, Broadway, books and more. During the sale, Circle’s touring division was laid off and told to leave the building according to Billboard. The electronic division was kept in the sale.

Read more here.

Vivendi Considering Potential IPO Of Universal Music Group:

Rumors have been swirling this week, but an official at Vivendi has confirmed that the company is exploring the possibility of floating a possible IPO for Universal Music Group. Universal is the largest record label in the world, reporting sales of $6 billion in 2017 across publishing and records. It is the largest moneymaker for Vivendi at the moment at 46% of its revenue.

Read more here.

Amazon Prime Hits 100 Million Subscribers:

Amazon Prime announced this week it had hit 100 million subscribers. That puts it in rare company alongside Netflix and HBO who both have over 100 million subscribers. But Amazon is unique because it offers not only two-day shipping, but also some music and then the video offering as well. As Amazon continues to muscle its way into the global behemoth it is, we will see how it grows these numbers and uses them to make more money. 

Read more here.

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