American company intends to buy a stake in "Rotana Music"

Warner Music intends to buy a minority stake in Rotana Music, owned by Saudi billionaire Prince Al-Waleed bin Talal.

According to Arabiya Net, the deal's value is approximately $ 200 million, according to people familiar with the matter.

while the deal is relatively small for the global music business in terms of financial considerations, the agreement will combine one of the biggest music powers in the West with the music giant in the Middle East. Record music sales are booming.

It will also give Warner direct access to the Middle East, which promises to have a young, relatively wealthy, and internet-oriented audience.

The sources said that the deal talks are in advanced stages and may lead to approval by the Board of Directors early this week, while no final agreement has been reached, according to It was mentioned by The Wall Street Journal, and viewed by Al Arabiya.net.

The two companies plan to assemble their respective artists for online distribution, according to the people involved in the discussions. Warner Music is home to world-class stars including Ed Sheeran, Cardi B and Madonna Atlantic, Electra and Warner Records also own the world's third-largest music publisher.

Meanwhile, Rotana Music is the largest recording company in the Arab world with regional stars such as the Syrian singer George Wassouf, as the two companies strive to produce multicultural content.

global recorded music revenue has grown strongly in recent years, buoyed by the popularity of streaming services like Spotify and Apple Music, as broadcasting has saved the industry from more than a decade of decline at the hands of Online piracy and the collapse of CD sales.

About 72% of Saudis use social media, while in the United States the percentage is 71%, according to German online database Statista.