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.
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