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Petalstone Group: Difference between revisions
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[[Petalstone Music|Petalstone Music Entertainment Inc'''.''']] is the music entertainment business unit of Petalstone. It is one of the largest global recorded music companies and one of the largest music publishers in the world. Petalstone Music owns the publishing rights to over 5 million compositions. | [[Petalstone Music|Petalstone Music Entertainment Inc'''.''']] is the music entertainment business unit of Petalstone. It is one of the largest global recorded music companies and one of the largest music publishers in the world. Petalstone Music owns the publishing rights to over 5 million compositions. | ||
Petalstone Music operates | Petalstone Music operates 5 flagship record labels: Petalstone Records, Vescona Music, Molată Entertainment, Devecus Records, and Pegasus Records. Petalstone Music also operates over 20 genre-specific sub-labels | ||
From 2009 to 2023, PME invested approximately $300 million into music streaming company [[Songbird]]. In Q4 2023, PME [[Songbird#Failed acquisition from Petalstone|attempted to leverage a full acquisition of Songbird in a $5 billion deal]]. Negotiations of the deal went on for some time, and a failure to reach an agreement on licensing deals as well as an antitrust investigation put the acquisition on indefinite hold. Today, Petalstone holds a 10% stake in Songbird and continues to advocate for its innovative approach to music distribution and artist empowerment. | From 2009 to 2023, PME invested approximately $300 million into music streaming company [[Songbird]]. In Q4 2023, PME [[Songbird#Failed acquisition from Petalstone|attempted to leverage a full acquisition of Songbird in a $5 billion deal]]. Negotiations of the deal went on for some time, and a failure to reach an agreement on licensing deals as well as an antitrust investigation put the acquisition on indefinite hold. Today, Petalstone holds a 10% stake in Songbird and continues to advocate for its innovative approach to music distribution and artist empowerment. | ||