Sony and the Singapore government investment company will invest $2 billion to acquire music rights library.

Sony Group and Singapore's sovereign wealth fund, Government Investment Corporation, will establish a joint venture company to collectively acquire music copyrights, with plans to invest between $2 billion and $3 billion in the project. Sony's music division will be responsible for managing the acquired copyright library, including distributing music to streaming platforms and licensing older songs for use in movies and advertisements. This joint venture company will provide funding to Sony to expand its song library and aims to seek high-quality, popular music assets in various genres.