Primary Wave's $1.5B Kobalt Deal Closes, CVC Buys DistroKid — Wed, July 8

Email us hereTwo landmark private equity deals reshape the music industry in a single week: Primary Wave's $1.5 billion Kobalt acquisition closes, creating a $7 billion combined entity, while CVC Capital Partners moves to acquire a majority stake in DistroKid, which handles ~40% of all new music globally. Meanwhile, Jermaine Dupri drops an $18 million suit against Sony Music, and Spotify pulls 500,000 fake streams tied to a prediction-market betting scheme. **Deals & M&A** • Primary Wave's $1.5B Kobalt acquisition closed July 7, with Brookfield co-investing in the $7B combined entity. • CVC Capital Partners agreed to acquire a majority stake in DistroKid; deal expected to close Q3 2026. • WMG's ADA division rebrands Africori and Qanawat Music, integrating Revelator tech across Africa and MENA. • Primary Wave added Jesus Jones frontman Mike Edwards' full catalog, including "Right Here, Right Now." **Lawsuits & AI** • Jermaine Dupri sued Sony Music for $18M, alleging 32 years of systematic royalty underreporting across major artists. • Publisher All Surface Publishing sued NewJeans, ADOR, and HYBE, claiming "ETA" copied a 2005 Baltimore club track. • Judge Aileen Cannon dismissed Taylor Swift plagiarism suit with prejudice, finding no protectable expression. • Suno hired ex-Atlantic and YouTube executives as it continues copyright litigation with UMG and Sony Music. • Danish indie Iceberg Records sued Spanish artists Moncho Chavea and Morad over an unauthorized Scatman John scat sample. **Streaming & Tech** • Spotify removed 500,000+ fake streams from Malcolm Todd's "Earrings" after a $3M Kalshi betting market manipulation. • AI track uploads to DSPs hit ~75,000 per day — up 650% since early 2025, per Deezer data. • Spotify says artists uploading full-length videos see a 64% streaming lift over the following three weeks. • Volvo confirmed native Apple Music and Spatial Audio integration across 2+ million vehicles. **Live & Touring** • Luminate: US Gen-Z concertgoers now average $101/month on live music, outspending millennials for the first time. • Shakira will perform at the Great Pyramids of Giza in November, her first Egypt concert in nearly 20 years. • Elton John announced two Mexico City farewell dates in October ahead of his planned Las Vegas hologram residency. **Artists & Releases** • The Spice Girls reclaimed rights to their 1997 film Spice World and plan a re-release with a fresh edit. **International** • Alibaba subsidiary Damai International launched ORCA, a new artist development label with a global talent search. Five minutes, six categories, zero fluff.