Music business spent $7 billion on acquisitions so far this year

Sony Music Group spent $1.4 billion on music acquisitions in the last six months, according to SMG Chairman Rob Stringer, MBW reports. According to Stringer, by Sony’s calculations - “in just the first four months of this year, music-related M&A and catalog investment activity was over $7 billion”. Sony estimated says that this $7 billion figure was “nearly equal to the total investment activity in the 12 months of 2020”.