UK

TikTok slashes hundreds of jobs globally as it shifts focus to AI content moderation (reports)

Some 500 people are losing their jobs in Malaysia, along with potentially 125 layoffs in the UK

In key markets outside the US, TikTok’s revenues soared 75% to $4.6bn last year, but losses widened amid $1bn in legal costs

TikTok's massive increase in European, LatAm and African revenue was more than offset by a sharp spike in expenses

Record labels welcome UK competition authority report on streaming, as Merck Mercuriadis slams CMA for not using ‘powers they have to fix the problems they identify’

Streaming market study report receives mixed response from the music industry

Both of the UK’s two biggest independent albums in 2021 were over 6 years old

2021's top-performing independent album in the UK was Arctic Monkeys' 2013 release, AM

UK government launches $1bn insurance scheme for live events forced to cancel due to Covid

Scheme will be available from September 2021 and run until the end of September 2022

Is Spotify in for a rough ride from UK politicians?

New inquiry from British government to examine business models operated by streaming firms

Indoor live music performances can take place in the UK from August 1

News follows UK government's $2bn support package for the country's arts and culture sector

Touts who ran £11m ticket reselling scheme found guilty of fraud in the UK

Tickets were resold for events including Ed Sheeran and Taylor Swift concerts