Sony Music, world’s second-largest music company, to buy 49% stake in Vietnam’s Yeah1
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Sony Music will acquire a 49% stake in Vietnam's Yeah1 Group to control its music publishing and artist management subsidiaries. The deal, signed by Sony Music Entertainment Hong Kong, allows Sony to manage 1Label and 1Talents. Yeah1 aims to reduce dependence on advertising by expanding into artist management. The investment provides financial backing for Yeah1's ecosystem, which includes over 240 channels and flagship reality shows. Yeah1 posted a significant profit increase in 2024, driven by advertising revenues.
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