This week, BMG and Concord confirmed their long-rumored merger, with Bertelsmann as majority-owner and Concord boss Bob Valentine named CEO of the combined company.
Meanwhile, The Orchard acquired OniMusic, a prominent Brazil-headquartered Christian music label, distributor, and “digital intelligence” company.
Plus, Primary Wave Music closed its fourth flagship music fund at $2.225 billion in total commitments, which it says is the “largest dedicated closed-end music royalties fund raised to date in the industry”.
Elsewhere, Believe and TuneCore revealed that they are automatically blocking the distribution of AI-generated tracks produced on unlicensed “pirate studios,” while inking new licensing agreements with ElevenLabs and Udio.
Also this week, Universal Music Group confirmed it will sell half of its equity stake in Spotify, generating around $1.4 billion.
Here are some of the biggest headlines from the past few days…
1. BMG AND CONCORD CONFIRM MERGER, WITH BERTELSMANN AS MAJORITY-OWNER; BOB VALENTINE NAMED CEO OF COMBINED COMPANY
It’s been rumored since back in January, and now it’s official: BMG and Concord are merging.
Both companies confirmed the move on Tuesday (April 28), alongside some interesting details.
For example, Concord boss Bob Valentine will serve as CEO of the new combined company, with Thomas Coesfeld as Chairman. (Coesfeld, currently CEO of BMG, also steps up to become CEO of BMG parent Bertelsmann in January 2027.)
The newly combined company’s global headquarters is in Nashville (currently home to Concord’s HQ) while its European headquarters will be in Berlin (currently home to BMG’s HQ)… (MBW)
2. THE ORCHARD ACQUIRES BRAZIL’S ONIMUSIC, A PROMINENT CHRISTIAN MUSIC DISTRIBUTION PLATFORM
The Orchard has acquired OniMusic, a Brazil-headquartered Christian music label, distributor, and digital intelligence company, home to more than 120 associated artists.
According to a press release from The Orchard, the transaction “marks a landmark expansion into the Latin American gospel market,” which it said is “one of the fastest-growing segments in the global music industry”.
OniMusic was founded in September 2004 by Nelson and Christie Tristão in Belo Horizonte, Minas Gerais… (MBW)
3. PRIMARY WAVE RAISES $2.2 BILLION FOR FOURTH MUSIC FUND
Primary Wave Music has closed its fourth flagship music fund at $2.225 billion in total commitments. The fund exceeded both its original $1.5 billion target and its $2 billion hard cap, Primary Wave said on Wednesday (April 29).
Primary Wave Music IP Fund 4 is the fourth consecutive oversubscribed fund from Primary Wave, which says the vehicle is the “largest dedicated closed-end music royalties fund raised to date in the industry”.
The fund was backed by a global investor base spanning insurance companies, pension funds, endowments, and large family offices, according to a press release, which also noted that Primary Wave is a strategic partner of financial giant Brookfield Asset Management. The fundraise comes at a moment of rapid expansion for Primary Wave… (MBW)
4. BELIEVE AND TUNECORE ARE BLOCKING DISTRIBUTION OF GENERATIVE AI TRACKS MADE ON ‘PIRATE STUDIOS’ LIKE SUNO – WHILE INKING NEW PARTNERSHIPS WITH ELEVENLABS AND UDIO
Believe has unveiled a significant update to its Generative AI policy – one that simultaneously hardens the company’s stance on unlicensed music AI platforms, while deepening its investment in other AI tools.
On the first front: Believe and its global platform for self-releasing artists, TuneCore, are automatically blocking the distribution of AI-generated tracks partly or fully produced on unlicensed “pirate studios”.
Speaking to MBW, Believe founder and CEO, Denis Ladegaillerie, reveals that Believe (including TuneCore) has deployed Gen-AI detection technologies whose capabilities have become “99% reliable” – enabling them to identify the specific AI model and platform that spawned any given track. When said model/platform is identified as originating from an unlicensed service, Believe and TuneCore will block distribution of any content.
Meanwhile, Believe has also confirmed to MBW that it has inked new music licensing agreements with two notable Gen-AI companies: ElevenLabs and Udio… (MBW)
5. UNIVERSAL IS SELLING 50% OF ITS SPOTIFY STAKE, GENERATING AROUND $1.4 BILLION
Universal Music Group will sell half of its equity stake in Spotify and use the proceeds to help fund an expanded share buyback program totaling EUR €1 billion (USD $1.17 billion), the company confirmed on Wednesday (April 29) alongside its Q1 2026 results.
The decision comes three weeks after Bill Ackman’s Pershing Square launched a $64 billion takeover bid for UMG that proposed liquidating the company’s entire Spotify stake to help fund the deal. UMG’s board has yet to make a decision on the Ackman proposal.
A UMG press release on Wednesday confirmed: “Consistent with the Company’s approach to artist compensation, artists will share in the proceeds. UMG’s share will initially be directed towards its buyback program.”
That commitment to artist participation in any Spotify sale dates back to 2018… (MBW)
Partner message: MBW’s Weekly Round-up is supported by BMI, the global leader in performing rights management, dedicated to supporting songwriters, composers and publishers and championing the value of music. Find out more about BMI here. Music Business Worldwide
