Global investment into music companies plummeted by nearly 75 percent this year, new data shows
Global investment in music companies has drastically dropped by nearly 75% in 2024, totaling $1.72 billion in the first eight months compared to $6.69 billion in the same period in 2023. The decline is attributed to higher interest rates and a slowdown in Web3 and AI sectors. Notable investments this year include $1 billion from HPS Investment Partners into Iconic Artists Group and $100 million from Alpha Wave Global into Gamma. Despite the downturn, there are positive indications for upcoming deals that could improve investment figures for the full year.
Published on Wednesday, September 11, 2024 at 8:00 AM
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