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The Deals: Sony Music Expands Presence in Saudi Arabia; FUGA Pacts With Direct-to-Fan App Single
Sony Music struck a pact with LuxuryKSA to develop Saudi artists and acquired the "Spookiz" animated series, among other recent music industry deals.
“Our partnership with LuxuryKSA is part of a broader strategy to deepen our roots in the region, champion local voices, and support sustained artist development,” said Shridhar Subramaniam, president of Sony Music in Asia and the Middle East, in a statement. “By integrating Single’s powerful direct-to-fan app into our platform, we’re providing artists with the tools they need to monetize content, engage fans, and optimize revenue — everything they need, all in one place,” said FUGA president Chrstiaan Kröner in a statement. The Argo will donate $1 from every ticket sold “to support music industry well-being, prioritizing programs in mental health, sustainability, and longevity,” according to a press release.
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