{"id":4895,"date":"2025-07-03T16:21:38","date_gmt":"2025-07-03T19:21:38","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/transacoes-na-industria-musical\/"},"modified":"2026-09-30T08:49:15","modified_gmt":"2026-09-30T11:49:15","slug":"transacoes-na-industria-musical","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/transacoes-na-industria-musical\/","title":{"rendered":"Transactions in the music industry"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A ind\u00fastria musical foi remodelada na \u00faltima d\u00e9cada pelo surgimento dos servi\u00e7os de streaming, como Spotify e Apple Music. Este modelo de neg\u00f3cio facilitou o acesso de seus usu\u00e1rios a diferentes estilos musicais, implementando modelos de assinatura, e desbancando outras formas de consumo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Impulsionada por esse modelo, a ind\u00fastria musical atingiu um tamanho de USD 29,6 bi em 2024, consolidando uma d\u00e9cada de alto crescimento. Nesse contexto, o Brasil tamb\u00e9m foi um expoente, mantendo-se como o 9\u00ba maior mercado fonogr\u00e1fico do mundo e um dos que mais cresceu nesse ano.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Com esse crescimento, transa\u00e7\u00f5es relevantes moldaram o setor nos \u00faltimos anos. Entre os destaques recentes, a Hellman &#038; Friedman desembolsou cerca de USD 3,3 bi pela Global Music Rights; a Sony investiu aproximadamente USD 1,3 bi no cat\u00e1logo do Queen; e a Universal que ampliou sua verticaliza\u00e7\u00e3o no segmento com a compra da Downtown por cerca de 775 mi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A p\u00edlula de hoje analisa a evolu\u00e7\u00e3o recente da ind\u00fastria fonogr\u00e1fica global, o posicionamento do Brasil nesse cen\u00e1rio e as transa\u00e7\u00f5es que v\u00eam transformando o setor.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i:empty{width:14px;height:10px;display:inline-block;flex:none}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); .pil-years > span *\/\n.pil-bars{display:flex;align-items:flex-end;gap:2.2%;height:240px;border-bottom:1.5px solid #333;padding:22px 1% 0}\n.pil-bars>div{flex:1;background:var(--light);position:relative;min-height:1px}\n.pil-bars>div.e{background:var(--blue)}\n.pil-bars>div.cur{background:var(--navy)}\n.pil-bars>div>span{position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px;white-space:nowrap}\n.pil-years{display:flex;gap:2.2%;padding:4px 1% 0;font-size:11px;text-align:center}\n.pil-years span{flex:1}\n.pil-cagr{text-align:center;font-size:12px;font-weight:700}\n.pil-cagr span{display:inline-block;border:1.5px solid #222;border-radius:50%;padding:2px 8px;margin-top:4px}\n\/* barras horizontais: .pil-hbars > .r > (b nome) (.bar > i[style=width:%]) (em valor) *\/\n.pil-hbars{display:grid;gap:8px;font-size:13px}\n.pil-hbars .r{display:grid;grid-template-columns:minmax(90px,30%) 1fr auto;gap:10px;align-items:center}\n.pil-hbars .bar{background:var(--pale);height:18px}\n.pil-hbars .bar i{display:block;height:100%;background:var(--blue)}\n.pil-hbars em{font-style:normal;font-weight:700;color:var(--navy);min-width:48px;text-align:right}\n\/* cartoes de numeros *\/\n.pil-box{border:2px solid var(--navy);border-radius:0 0 10px 10px;background:#fff}\n.pil-box>h3{margin:0;background:var(--navy);color:#fff;font-size:14px;text-align:center;padding:8px}\n.pil-stat{text-align:center;padding:16px 14px;font-size:13px;line-height:1.45}\n.pil-stat strong{display:block;font-size:40px;color:var(--blue);font-weight:800;line-height:1.1}\n.pil-stat strong small{font-size:22px}\n.pil-stat em{font-style:normal;color:var(--blue);font-weight:700}\n.pil-card{background:#fff;border-radius:12px;box-shadow:0 1px 5px rgba(0,0,0,.14);padding:14px 16px;font-size:13px;line-height:1.5}\n.pil-card h3{font-size:15px;color:var(--navy);margin:0 0 8px}\n.pil-card.tint{background:var(--card);box-shadow:none}\n\/* listas e fatos *\/\n.pil-list{margin:0;padding-left:18px;font-size:14px;line-height:1.6}\n.pil-list li{margin-bottom:6px}\n.pil-fact{font-size:14px;line-height:1.5;padding-left:14px;border-left:3px solid var(--light)}\n.pil-fact.dark{border-color:var(--navy)}\n.pil-fact b{color:var(--navy)}\n.pil-fact big{font-size:20px;font-weight:800;color:var(--navy)}\n.pil-hl{color:var(--blue);font-weight:700}\n\/* tabela *\/\n.pil-tw{overflow-x:auto}\n.pil-table{width:100%;border-collapse:collapse;font-size:13px}\n.pil-table th{background:var(--navy);color:#fff;text-align:left;padding:8px 10px;font-weight:700}\n.pil-table td{padding:7px 10px;border-bottom:1px solid #d8dce4;vertical-align:top}\n.pil-table tr:nth-child(even) td{background:#f5f6f9}\n.pil-table .n{text-align:right;font-variant-numeric:tabular-nums;white-space:nowrap}\n\/* linha do tempo *\/\n.pil-time{display:grid;gap:14px;border-left:2px dashed var(--light);padding-left:18px;margin-left:6px}\n.pil-time>div{position:relative;font-size:14px;line-height:1.5}\n.pil-time>div::before{content:\"\";position:absolute;left:-25px;top:5px;width:12px;height:12px;border-radius:50%;background:var(--navy)}\n.pil-time b.y{display:block;color:var(--light);font-size:16px;font-weight:800}\n\/* figuras (recortes do slide) *\/\n.pil-fig{margin:0}\n.pil-fig figcaption{text-align:center;font-weight:800;color:var(--light);font-size:16px;margin-top:4px}\n.pil-brand{background:var(--card);border-radius:14px;overflow:hidden}\n.pil-brand p{margin:0;text-align:center;font-size:20px;font-weight:800;font-style:italic;color:var(--navy);padding:10px 0 12px}\n@media (max-width:700px){\n  .pil-grid2,.pil-grid2.wide-left,.pil-grid2.wide-right{grid-template-columns:1fr}\n  .pil-grid3,.pil-grid4,.pil-grid5{grid-template-columns:1fr 1fr}\n  .pil-sec h2{font-size:17px}\n  .pil-bars{height:180px}\n  .pil-bars>div>span{font-size:10px}\n  .pil-years{font-size:9px}\n}\n@media (max-width:480px){\n  .pil-bars{gap:1.2%}\n  .pil-years{gap:1.2%;font-size:8px}\n  .pil-bars>div>span{font-size:8px;letter-spacing:-.3px}\n  .pil-bars:has(>div:nth-child(13))>div>span{writing-mode:vertical-rl;transform:translateX(-50%) rotate(180deg);top:auto;bottom:100%;padding-bottom:2px}\n  .pil-years:has(>span:nth-child(13)) span{writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto}\n}\n\r\n<\/style>\n<div class=\"pil\">\n\n<section class=\"pil-sec\">\n  <h2>A m\u00fasica produzida pelos artistas passa por 4 elos principais da ind\u00fastria at\u00e9 chegar ao ouvinte<\/h2>\n  <div style=\"display:grid;gap:16px\">\n    <div class=\"pil-card\">\n      <h3 style=\"background:var(--navy);color:#fff;border-radius:8px;padding:8px 12px\">Gravadoras \/ Financiadoras<\/h3>\n      <div class=\"pil-grid3\" style=\"align-items:center\">\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Grandes <i>players<\/i><\/p><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-sony.png\" alt=\"Logo da Sony Music\" loading=\"lazy\" style=\"height:44px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-universal.png\" alt=\"Logo da Universal Music Group\" loading=\"lazy\" style=\"height:34px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-warner.png\" alt=\"Logo da Warner Music Group\" loading=\"lazy\" style=\"height:34px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-downtown.png\" alt=\"Logo da Downtown Music\" loading=\"lazy\" style=\"height:18px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">O que faz<\/p><p class=\"pil-p\">Descobrem, financiam e promovem artistas, gerindo cat\u00e1logos de grava\u00e7\u00f5es<\/p><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Como monetiza<\/p><p class=\"pil-p\">Monetizam com parcela dos <i>royalties<\/i> e eventuais vendas de cat\u00e1logo<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div class=\"pil-card\">\n      <h3 style=\"background:var(--blue);color:#fff;border-radius:8px;padding:8px 12px\">Distribuidores<\/h3>\n      <div class=\"pil-grid3\" style=\"align-items:center\">\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Grandes <i>players<\/i><\/p><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-curve.png\" alt=\"Logo da Curve\" loading=\"lazy\" style=\"height:24px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-musicgateway.png\" alt=\"Logo da Music Gateway\" loading=\"lazy\" style=\"height:20px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-showco.png\" alt=\"Logo da Show.co\" loading=\"lazy\" style=\"height:30px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-fuga.png\" alt=\"Logo da FUGA\" loading=\"lazy\" style=\"height:24px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">O que faz<\/p><p class=\"pil-p\">Padronizam e enviam faixas aos servi\u00e7os de <i>streaming<\/i>, controlando metadados e relat\u00f3rios de consumo<\/p><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Como monetiza<\/p><p class=\"pil-p\">Cobram taxa fixa ou vari\u00e1vel, al\u00e9m de servi\u00e7os premium de marketing<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div class=\"pil-card\">\n      <h3 style=\"background:var(--light);color:#fff;border-radius:8px;padding:8px 12px\">Gestores de Direitos Autorais<\/h3>\n      <div class=\"pil-grid3\" style=\"align-items:center\">\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Grandes <i>players<\/i><\/p><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-ascap.png\" alt=\"Logo da ASCAP\" loading=\"lazy\" style=\"height:34px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-orfium.png\" alt=\"Logo da Orfium\" loading=\"lazy\" style=\"height:22px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-warner.png\" alt=\"Logo da Warner Music Group\" loading=\"lazy\" style=\"height:34px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-soundexchange.png\" alt=\"Logo da SoundExchange\" loading=\"lazy\" style=\"height:40px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">O que faz<\/p><p class=\"pil-p\">Arrecadam e distribuem direitos autorais de exibi\u00e7\u00f5es p\u00fablicas e m\u00eddias f\u00edsicas<\/p><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Como monetiza<\/p><p class=\"pil-p\">Ret\u00eam uma taxa administrativa sobre o valor coletado pelos <i>streamings<\/i> antes de repassar aos titulares<sup>(1)<\/sup><\/p><\/div>\n      <\/div>\n    <\/div>\n    <div class=\"pil-card\">\n      <h3 style=\"background:var(--card);color:var(--navy);border-radius:8px;padding:8px 12px\"><i>Streaming<\/i> \/ Consumo<\/h3>\n      <div class=\"pil-grid3\" style=\"align-items:center\">\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Grandes <i>players<\/i><\/p><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-googleplay.png\" alt=\"Logo do Google Play\" loading=\"lazy\" style=\"height:22px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-applemusic.png\" alt=\"Logo do Apple Music\" loading=\"lazy\" style=\"height:24px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-spotify.png\" alt=\"Logo do Spotify\" loading=\"lazy\" style=\"height:26px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-youtube.png\" alt=\"Logo do YouTube\" loading=\"lazy\" style=\"height:26px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-deezer.png\" alt=\"Logo da Deezer\" loading=\"lazy\" style=\"height:24px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">O que faz<\/p><p class=\"pil-p\">Oferecem cat\u00e1logo <i>on-demand<\/i> ao p\u00fablico por assinatura ou an\u00fancios, agregando dados de uso<\/p><\/div>\n        <div><p class=\"pil-p\" style=\"font-weight:700;color:var(--navy);margin-bottom:6px\">Como monetiza<\/p><p class=\"pil-p\">Recebem assinaturas e publicidade, retendo margem ap\u00f3s pagar <i>royalties<\/i> aos demais elos<\/p><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) Gravadoras e artistas.<br>Fonte: OC&amp;C; An\u00e1lise \u00c1rtica.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Os servi\u00e7os de <i>streaming<\/i> lideram a nova era de crescimento da ind\u00fastria musical<\/h2>\n  <div class=\"pil-sub\"><span>Receita mundial da ind\u00fastria musical<\/span><\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:center;flex-wrap:wrap;gap:8px\"><span class=\"pil-unit\">US$ bi<\/span><span class=\"pil-legend\"><span><i style=\"background:#4a5d85\"><\/i><span><i>Streaming<\/i><\/span><\/span><span><i style=\"background:#8599b9\"><\/i><span>Consumo f\u00edsico<\/span><\/span><span><i style=\"background:#d3d9e3\"><\/i><span>Outros<\/span><\/span><\/span><\/div>\n  <div style=\"display:grid;gap:14px\">\n    <div>\n      <div class=\"pil-cagr\">CAGR <span>+8,7%<\/span><\/div>\n      <div class=\"pil-bars\" style=\"height:300px\" role=\"img\" aria-label=\"Receita mundial da ind\u00fastria musical, em US$ bilh\u00f5es (Streaming \/ Consumo f\u00edsico \/ Outros): 2014 12,8 (1,8 \/ 5,2 \/ 5,8); 2015 13,3 (2,6 \/ 5,0 \/ 5,7); 2016 14,6 (4,4 \/ 4,8 \/ 5,4); 2017 15,8 (6,2 \/ 4,5 \/ 5,1); 2018 17,2 (8,7 \/ 4,0 \/ 4,5); 2019 18,5 (10,6 \/ 3,7 \/ 4,2); 2020 19,8 (12,6 \/ 3,6 \/ 3,6); 2021 23,5 (15,5 \/ 4,2 \/ 3,8); 2022 25,6 (17,3 \/ 4,4 \/ 3,9); 2023 28,2 (19,0 \/ 5,0 \/ 4,2); 2024 29,6 (20,4 \/ 4,8 \/ 4,4). CAGR total +8,7%\">\n        <div style=\"height:43.2%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>12,8<\/b><\/span><div style=\"height:14.1%;background:#4a5d85;color:#fff\">1,8<\/div><div style=\"height:40.6%;background:#8599b9\">5,2<\/div><div style=\"height:45.3%;background:#d3d9e3\">5,8<\/div><\/div>\n        <div style=\"height:44.9%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>13,3<\/b><\/span><div style=\"height:19.5%;background:#4a5d85;color:#fff\">2,6<\/div><div style=\"height:37.6%;background:#8599b9\">5,0<\/div><div style=\"height:42.9%;background:#d3d9e3\">5,7<\/div><\/div>\n        <div style=\"height:49.3%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>14,6<\/b><\/span><div style=\"height:30.1%;background:#4a5d85;color:#fff\">4,4<\/div><div style=\"height:32.9%;background:#8599b9\">4,8<\/div><div style=\"height:37%;background:#d3d9e3\">5,4<\/div><\/div>\n        <div style=\"height:53.4%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>15,8<\/b><\/span><div style=\"height:39.2%;background:#4a5d85;color:#fff\">6,2<\/div><div style=\"height:28.5%;background:#8599b9\">4,5<\/div><div style=\"height:32.3%;background:#d3d9e3\">5,1<\/div><\/div>\n        <div style=\"height:58.1%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>17,2<\/b><\/span><div style=\"height:50.6%;background:#4a5d85;color:#fff\">8,7<\/div><div style=\"height:23.3%;background:#8599b9\">4,0<\/div><div style=\"height:26.1%;background:#d3d9e3\">4,5<\/div><\/div>\n        <div style=\"height:62.5%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>18,5<\/b><\/span><div style=\"height:57.3%;background:#4a5d85;color:#fff\">10,6<\/div><div style=\"height:20%;background:#8599b9\">3,7<\/div><div style=\"height:22.7%;background:#d3d9e3\">4,2<\/div><\/div>\n        <div style=\"height:66.9%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>19,8<\/b><\/span><div style=\"height:63.6%;background:#4a5d85;color:#fff\">12,6<\/div><div style=\"height:18.2%;background:#8599b9\">3,6<\/div><div style=\"height:18.2%;background:#d3d9e3\">3,6<\/div><\/div>\n        <div style=\"height:79.4%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>23,5<\/b><\/span><div style=\"height:66%;background:#4a5d85;color:#fff\">15,5<\/div><div style=\"height:17.9%;background:#8599b9\">4,2<\/div><div style=\"height:16.1%;background:#d3d9e3\">3,8<\/div><\/div>\n        <div style=\"height:86.5%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>25,6<\/b><\/span><div style=\"height:67.6%;background:#4a5d85;color:#fff\">17,3<\/div><div style=\"height:17.2%;background:#8599b9\">4,4<\/div><div style=\"height:15.2%;background:#d3d9e3\">3,9<\/div><\/div>\n        <div style=\"height:95.3%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>28,2<\/b><\/span><div style=\"height:67.4%;background:#4a5d85;color:#fff\">19,0<\/div><div style=\"height:17.7%;background:#8599b9\">5,0<\/div><div style=\"height:14.9%;background:#d3d9e3\">4,2<\/div><\/div>\n        <div style=\"height:100%;background:transparent;display:flex;flex-direction:column-reverse;font-size:10px;text-align:center\"><span><b>29,6<\/b><\/span><div style=\"height:68.9%;background:#4a5d85;color:#fff\">20,4<\/div><div style=\"height:16.2%;background:#8599b9\">4,8<\/div><div style=\"height:14.9%;background:#d3d9e3\">4,4<\/div><\/div>\n      <\/div>\n      <div class=\"pil-years\"><span>2014<\/span><span>2015<\/span><span>2016<\/span><span>2017<\/span><span>2018<\/span><span>2019<\/span><span>2020<\/span><span>2021<\/span><span>2022<\/span><span>2023<\/span><span>2024<\/span><\/div>\n    <\/div>\n    <div style=\"display:flex;flex-wrap:wrap;gap:10px;align-items:center;justify-content:center;text-align:center;font-size:13px\">\n      <b>CAGR<\/b>\n      <div class=\"pil-card\" style=\"background:#d3d9e3;padding:8px\"><span>Outros <b>-2,7%<\/b><\/span><\/div>\n      <div class=\"pil-card\" style=\"background:#8599b9;color:#fff;padding:8px\"><span>Consumo f\u00edsico <b>-0,8%<\/b><\/span><\/div>\n      <div class=\"pil-card\" style=\"background:#4a5d85;color:#fff;padding:8px\"><span><i>Streaming<\/i> <b>+27,5%<\/b><\/span><\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-grid2\" style=\"margin-top:24px\">\n    <div style=\"display:grid;gap:14px\">\n      <div class=\"pil-fact dark\"><span>Nos \u00faltimos 10 anos, a ind\u00fastria foi transformada pela <b>consolida\u00e7\u00e3o do <i>streaming<\/i><\/b>, que cresceu em m\u00e9dia <b>27,5%<\/b> ao ano<\/span><\/div>\n      <div class=\"pil-fact dark\"><span>O Brasil foi um dos pa\u00edses que <b>mais cresceu<\/b> no \u00faltimo ano, atingindo pela primeira vez <b>BRL 3,5 bi<\/b> em receita, com <b>88% vindo do <i>streaming<\/i><\/b><\/span><\/div>\n    <\/div>\n    <div>\n      <div class=\"pil-sub\"><span>Maiores mercados de 2024<\/span><\/div>\n      <div style=\"display:grid;grid-template-columns:repeat(4,1fr);gap:6px;align-items:end;text-align:center;font-size:13px\">\n        <div><span style=\"color:#888\">Jap\u00e3o<\/span><div style=\"background:#e6e6e6;height:60px;margin-top:4px;display:flex;align-items:center;justify-content:center;font-weight:700\">2\u00b0<\/div><\/div>\n        <div><span style=\"color:#888\">EUA<\/span><div style=\"background:#e6e6e6;height:80px;margin-top:4px;display:flex;align-items:center;justify-content:center;font-weight:700\">1\u00b0<\/div><\/div>\n        <div><span style=\"color:#888\">Reino Unido<\/span><div style=\"background:#e6e6e6;height:45px;margin-top:4px;display:flex;align-items:center;justify-content:center;font-weight:700\">3\u00b0<\/div><\/div>\n        <div><b style=\"color:#b8900f\">Brasil<\/b><div style=\"background:#b8900f;color:#fff;height:30px;margin-top:4px;display:flex;align-items:center;justify-content:center;font-weight:700\">9\u00b0<\/div><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Pr\u00f3-M\u00fasica; IFPI; An\u00e1lise \u00c1rtica.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>O aquecimento do setor levou investidores <span style=\"background:#fff;color:var(--navy);padding:0 4px\">financeiros<\/span> e estrat\u00e9gicos a realizarem movimentos de aquisi\u00e7\u00e3o <small>(1\/2)<\/small><\/h2>\n  <div class=\"pil-time\">\n    <div><b class=\"y\">2021<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-oaktree.png\" alt=\"Logo da Oaktree Capital\" loading=\"lazy\" style=\"height:44px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-primarywave.png\" alt=\"Logo da Primary Wave\" loading=\"lazy\" style=\"height:44px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>Oaktree Capital<\/b> investiu na editora de cat\u00e1logos <b>Primary Wave<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">375<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-eqt.png\" alt=\"Logo da EQT\" loading=\"lazy\" style=\"height:26px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-blackstone.png\" alt=\"Logo da Blackstone\" loading=\"lazy\" style=\"height:26px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-epidemic.png\" alt=\"Logo da Epidemic Sound\" loading=\"lazy\" style=\"height:22px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>EQT e Blackstone<\/b> investiram na expans\u00e3o da <i>royalty-free music<\/i> <b>Epidemic Sound<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">450<\/span> mi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2022<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-franciscopartners.png\" alt=\"Logo da Francisco Partners\" loading=\"lazy\" style=\"height:52px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-kobalt.png\" alt=\"Logo da Kobalt\" loading=\"lazy\" style=\"height:44px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>Francisco Partners<\/b> adquiriu a empresa de administra\u00e7\u00e3o de direitos autorais <b>Kobalt<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">750<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-harbourview-v2.png\" alt=\"Logo da HarbourView Equity\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-soundhouse-v2.png\" alt=\"Logo da Sound House Acquisitions\" loading=\"lazy\" style=\"height:40px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>HarbourView Equity<\/b> adquiriu <b>Sound House Acquisitions<\/b>, dona de cat\u00e1logos musicais<\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">325<\/span> mi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2023<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-litmus.png\" alt=\"Logo da Litmus Music\" loading=\"lazy\" style=\"height:42px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-carlyle.png\" alt=\"Logo da Carlyle\" loading=\"lazy\" style=\"height:24px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>Litmus Music<sup>(1)<\/sup><\/b> adquiriu os direitos sobre o cat\u00e1logo musical de <b>Katy Perry<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">225<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-hipgnosis.png\" alt=\"Logo da Hipgnosis\" loading=\"lazy\" style=\"height:48px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-foto-bieber.jpg\" alt=\"Foto de Justin Bieber\" loading=\"lazy\" style=\"height:56px;width:56px;border-radius:50%;object-fit:cover;margin:0\"><\/div><p class=\"pil-p\"><b>Hipgnosis<\/b> adquiriu o portf\u00f3lio completo de m\u00fasicas de <b>Justin Bieber<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">200<\/span> mi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2024<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-kkr.png\" alt=\"Logo da KKR\" loading=\"lazy\" style=\"height:26px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-superstruct.png\" alt=\"Logo da Superstruct\" loading=\"lazy\" style=\"height:46px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>KKR<\/b> adquiriu o grupo de entretenimento ao vivo <b>Superstruct<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">1,4<\/span> bi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-hellmanfriedman.png\" alt=\"Logo da Hellman &amp; Friedman\" loading=\"lazy\" style=\"height:16px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-gmr.png\" alt=\"Logo da Global Music Rights\" loading=\"lazy\" style=\"height:48px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>Hellman &amp; Friedman<\/b> comprou o licenciante de direitos autorais <b>Global Music Rights<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">3,3<\/span> bi<\/p><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) Ve\u00edculo de investimento criado em 2022 com US$ 500 mi comprometidos pela CarlyleGroup.<br>Fonte: OC&amp;C; Clippings; An\u00e1lise \u00c1rtica.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>O aquecimento do setor levou investidores financeiros e <span style=\"background:#fff;color:var(--navy);padding:0 4px\">estrat\u00e9gicos<\/span> a realizarem movimentos de aquisi\u00e7\u00e3o <small>(2\/2)<\/small><\/h2>\n  <div class=\"pil-time\">\n    <div><b class=\"y\">2021<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-warner.png\" alt=\"Logo da Warner Music Group\" loading=\"lazy\" style=\"height:40px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-foto-guetta.jpg\" alt=\"Foto de David Guetta\" loading=\"lazy\" style=\"height:56px;width:56px;border-radius:50%;object-fit:cover;margin:0\"><\/div><p class=\"pil-p\">A <b>Warner Music Group<\/b> comprou o cat\u00e1logo de grava\u00e7\u00f5es de <b>David Guetta<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">+US$ <span class=\"pil-hl\" style=\"font-size:18px\">100<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-sony.png\" alt=\"Logo da Sony Music\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-somlivre.png\" alt=\"Logo da Som Livre\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\">A <b>Sony Music<\/b> adquiriu a gravadora brasileira <b>Som Livre<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">255<\/span> bi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2022<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-universal.png\" alt=\"Logo da Universal Music Group\" loading=\"lazy\" style=\"height:36px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-foto-sting.jpg\" alt=\"Foto de Sting\" loading=\"lazy\" style=\"height:56px;width:56px;border-radius:50%;object-fit:cover;margin:0\"><\/div><p class=\"pil-p\">A <b>Universal Music Group<\/b> comprou o cat\u00e1logo de m\u00fasicas de <b>Sting<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">300<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-godigital.png\" alt=\"Logo da GoDigital\" loading=\"lazy\" style=\"height:48px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-cinq.png\" alt=\"Logo da Cinq Music Group\" loading=\"lazy\" style=\"height:34px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\">A <b>GoDigital<\/b> liderou a rodada S\u00e9rie D de financiamento da <b>Cinq Music Group<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">100<\/span> mi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2023<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-kakao.png\" alt=\"Logo da Kakao\" loading=\"lazy\" style=\"height:30px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-smentertainment.png\" alt=\"Logo da SM Entertainment\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\"><b>Kakao<\/b> comprou stake de 40% da <b>SM Entertainment<\/b>, se tornando o principal acionista<\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">1,0<\/span> bi<\/p><\/div>\n      <\/div>\n    <\/div>\n    <div><b class=\"y\">2024<\/b>\n      <div class=\"pil-grid2\" style=\"gap:12px;margin-top:6px\">\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-sony.png\" alt=\"Logo da Sony Music\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-foto-mj.jpg\" alt=\"Foto de Michael Jackson\" loading=\"lazy\" style=\"height:56px;width:56px;border-radius:50%;object-fit:cover;margin:0\"><\/div><p class=\"pil-p\"><b>Sony Music<\/b> comprou metade do cat\u00e1logo avaliado em USD 1,2 bi de <b>Michael Jackson<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">600<\/span> mi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-sony.png\" alt=\"Logo da Sony Music\" loading=\"lazy\" style=\"height:50px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-foto-queen.jpg\" alt=\"Foto de Freddie Mercury, do Queen\" loading=\"lazy\" style=\"height:56px;width:56px;border-radius:50%;object-fit:cover;margin:0\"><\/div><p class=\"pil-p\"><b>Sony Music<\/b> comprou o cat\u00e1logo do <b>Queen<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">1,3<\/span> bi<\/p><\/div>\n        <div class=\"pil-card\" style=\"text-align:center\"><div style=\"display:flex;flex-wrap:wrap;gap:10px 16px;align-items:center;justify-content:center;margin:0 0 10px;min-height:60px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-universal.png\" alt=\"Logo da Universal Music Group\" loading=\"lazy\" style=\"height:36px;width:auto;max-width:46%;object-fit:contain;margin:0\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4895-logo-downtown.png\" alt=\"Logo da Downtown Music\" loading=\"lazy\" style=\"height:18px;width:auto;max-width:46%;object-fit:contain;margin:0\"><\/div><p class=\"pil-p\">A <b>Universal Music<\/b> adquiriu a distribuidora e editora <b>Downtown Music<\/b><\/p><p class=\"pil-p\" style=\"margin:0;font-weight:700\">~US$ <span class=\"pil-hl\" style=\"font-size:18px\">775<\/span> mi<\/p><\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: OC&amp;C; Clippings; An\u00e1lise \u00c1rtica.<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>The music industry has been reshaped in the last decade by the emergence of streaming services like Spotify and Apple Music. This business model has facilitated users&#039; access to different musical styles, implementing subscription models, and displacing other forms of consumption.<\/p>","protected":false},"author":1,"featured_media":4890,"template":"","meta":[],"class_list":["post-4895","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/4895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/4890"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=4895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}