A Partner of Chance the Rapper Wants to Shake-Up the Record Label Industry
Veteran record executive Steve Stoute, who's partnered on philanthropic endeavors with Chance the Rapper and Kevin Durant, has decided to remove the middleman between musicians and their fan base. He says his new company, UnitedMasters, will change the record label industry.
For full interview [click here](https://cheddar.com/videos/unitedmasters-and-steve-stoute-play-a-different-tune).
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
