The first half of 2026 has included its fair share of surprises. Perhaps none was more surprising than Bill Ackman‘s Pershing Square making a bid to buy Universal Music Group for over $60 billion (a plan which was ultimately rejected by the UMG board). Then, a number of large music companies merged, blurring the lines between what can be considered a major music company versus a large independent.
Spotify struck a licensing deal with UMG for its new AI music remixing product, and Live Nation might have reached a shocking settlement with the Department of Justice in its antitrust trial in March — but the several states continued with the case, resulting in winning a jury verdict on all counts.
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It remains to be seen what these developments will mean for the music business in the latter half of the year, perhaps more layoffs across the newly merged music companies. Maybe even the breakup of Live Nation and Ticketmaster.
On the final episode of season two of Billboard On the Record, host Kristin Robinson speaks to Billboard‘s executive editor, business Dan Rys, senior finance correspondent Elizabeth Dilts Marshall, and senior legal reporter Bill Donahue to break down the biggest music business news of 2026 so far.
