djfrosty

13 Mar 2024

Dua Lipa Announces New Album ‘Radical Optimism’: Here’s When It Arrives

The radical optimism of fans hoping for a new Dua Lipa album has finally paid off. The 28-year-old pop star announced her highly anticipated third studio album, Radical Optimism, in an Instagram Wednesday (March 13). The 11-track project — her first proper LP since 2020’s Future Nostalgia — arrives May 3.

On the cover, she floats in the ocean with what appears to be a shark fin approaching her. And yet, as terrifying as the scenario sounds, the photograph is peaceful, backdropped by the calming colors of a hazy sunset or sunrise — perhaps serving as a visual aide to the project’s title.

The English singer-songwriter has already released two singles from the project — “Houdini” and “Training Season.” The former debuted at No. 11 on the Billboard Hot 100, while the latter entered the chart at No. 27.

Trending on Billboard

In addition to the release date and cover, Dua has also shared Radical Optimism‘s tracklist, featuring titles such as “End of an Era,” “French Exit,” “Maria” and “Happy for You.” As of now, it appears that the record has no collaborations.

“A couple years ago, a friend introduced me to the term ‘radical optimism,’” she said in a statement about the album. “It’s a concept that resonated with me, and I became more curious as I started to play with it and weave it into my life.”

“It struck me – the idea of going through chaos gracefully and feeling like you can weather any storm,” she continued. “At the same time, I found myself looking through the music history of psychedelia, trip hop and Britpop. It has always felt so confidently optimistic to me, and that honesty and attitude is a feeling I took into my recording sessions.”

See the Radical Optimism cover and tracklist below.

13 Mar 2024

10 First-Timers on Billboard’s Charts This Week: Dasha, Yard Act, Ole 60, Charlotte Cardin & More

Billboard has more than 200 different weekly charts, encompassing numerous genres and formats.

While established artists often compete for a spot on the Billboard Hot 100 songs chart and Billboard 200 albums ranking, which track the most popular songs and albums of the week, respectively, up-and-coming talents typically start off on genre-specific lists.

Here’s a look at 10 artists who appear on surveys for the first time on the March 16, 2024-dated charts.

Explore

Explore

See latest videos, charts and news

See latest videos, charts and news

Dasha



The up-and-coming singer-songwriter reaches Billboard’s charts for the first time with her breakthrough viral hit “Austin.” The song, released in November on Version III, debuts at No. 31 on Hot Country Songs with 4 million official U.S. streams (up 28%) and 1,000 downloads sold (up 79%) in the March 1-7 tracking week, according to Luminate. She also rises 43-29 in her second week on the Emerging Artists chart.

The song appears on Dasha’s new eight-track LP What Happens Now?, released Feb. 16. Before that, she released Dirty Blonde in January 2023, via Quadio Records.

Trending on Billboard

Dasha is based in Nashville, via San Luis Obispo, Calif. Gains for “Austin” have been sparked by TikTok, where she boasts over 400,000 followers. Seemingly boosted by the rising wave behind Beyonce’s country crossover smash “Texas Hold ‘Em,” the song soundtracks a line-dance trend started by the artist. To date, the song has been featured in over 200,000 videos on the platform. Last week, Billboard reported that in the tracking week ending Feb. 15, in which Beyoncé released “Texas Hold ‘Em” midway through, “Austin” vaulted from 82,000 official on-demand streams the week before to over 830,000—up 916%. The next week (ending Feb. 22), the song grew 182% to 2.3 million.

Yard Act



The rock group, from Leeds, West Yorkshire, is officially a Billboard-charting act for the first time thanks to its sophomore LP Where’s My Utopia? Released March 1 on Zen F.C./Island Records UK/Republic Records, the set debuts at No. 23 on the Tastemaker Albums chart (which ranks the week’s top-selling albums at independent and small chain record stores).

The band preceded Utopia with its 2022 debut The Overload, which reached No. 2 on the Official U.K. Albums Chart. The group spoke to Billboard at SXSW in 2022 following the LP’s release and chart debut. “We put ourselves through the ringer that week because we got informed that we had a shot at a No. 1 album against Years & Years on their third album,” vocalist James Smith said. “He’s a sort of national treasure in the U.K., Olly Alexander, and rightly so, so we were the underdogs and we thought we’d give him a run for his money. We ended up at No. 2 and Meat Loaf threatened us with his passing, too. Hog passed us, but we kept Meat Loaf at bay, which was good. It was just funny. We didn’t expect to be getting a high charting album and then it all just started running off, and so it’s just loads of fun for us.”

Yard Act comprises Smith (vocals), Sam Shipstone (guitar), Ryan Needham (bass) and Jay Russell (drums).

Ole 60



The six-piece reaches Billboard’s charts for the first time with its debut four-track project Three Twenty Four: The EP. Released in August 2023, the set debuts at No. 25 on Heatseekers Albums (which ranks the most-popular albums of the week by new or developing acts) with 3,000 equivalent album units earned.

Ole 60, from Kentucky, released the EP via Grey Area/Red Door. Its single “Smoke & A Light” has recently gone viral on TikTok, as many creators have used the song to soundtrack their experiences of being cheated on in relationships. The song has been featured in over 10,000 clips on the platform to date and generated 2 million streams March 1-7, up 15%. The week before (Feb. 23-29), it surged from 808,000 streams to 1.7 million, a 115% gain.

The virality of the track helped Ole 60 sign with UTA for worldwide representation. The band comprises Colby Clark, Jarrett Davis, Dustin “Catfish” Fuqua, Ryan Laslie, Aden Wood and Jacob Ty Young. The group is slated to support Dylan Gossett on his No Better Time Tour, as well as Charles Wesley Godwin.

Will Moseley



The Hazelhurst, Ga., native arrives on Billboard’s charts with his breakthrough song “Gone for Good.” The track debuts at No. 13 on Country Digital Song Sales with 2,000 downloads sold in its first week of release, while Moseley himself opens at No. 49 on Emerging Artists.

Moseley performed his original track for his audition on ABC’s American Idol, which aired March 3. In a spotlight video on the episode, he described his upbringing and playing college football at Maryville College in Tennessee. “Football was a way of life,” he said. “It was eat, sleep, breathe, wake up, repeat. I loved it.” In the clip, he says he suffered three concussions in two seasons, forcing him to cut his football career short. The pivot inspired him to learn guitar. “It’s been a blessing in disguise,” he said.

His audition impressed judges Luke Bryan, Katy Perry and Lionel Richie, and his subsequent performance earned him a golden ticket to the next round. “We knew from the very first note,” Perry said of his performance.

Sheer Mag



The Philadelphia-based rock group lands on Billboard’s charts for the first time with its third LP, Playing Favorites. The set, released March 1 on Third Man Records, debuts at No. 17 on Tastemakers Albums. The set is Sheer Mag’s first release on Third Man. The group released two previous albums, Need To Feel Your Love (2017) and A Distant Call (2019), along with three EPs.

The band comprises Tina Halladay, Matt Palmer and Hart and Kyle Seely. The North American leg of its headlining tour kicks off March 29 in Washington, D.C. The act also has a string of European tour dates lined up in August.

Charlotte Cardin



The Canadian singer-songwriter is already a seasoned hitmaker in her home country, but she notches her first U.S. chart hit thanks to “Confetti.” The song, released on Atlantic Records, debuts at No. 34 on Adult Pop Airplay (up 170% in spins). The song appears on Cardin’s second full-length, 99 Nights, released last August.

Cardin, who records music in both English and French, has notched numerous chart hits in Canada. She has tallied 13 entries on the Billboard Canadian Hot 100—“Confetti” became her first top 10, reaching No. 10 last September. She has also charted 10 songs on Canada AC, six on Canada Hot 100 Airplay, four on Canada Top 40 and two on Canada Rock.

Cardin has won four Juno Awards, including artist of the year in 2022. She boasts six nominations—the most among all acts—at the upcoming ceremony, to be held March 24: artist and songwriter of the year; the Juno Fan Choice Award; album and pop album of the year, for 99 Nights; and single of the year, for “Confetti.”

Cardin, from Mount Royal, Quebec, has been releasing music since 2013. Before 99 Nights, she released her first full-length, Phoenix, in 2021.

Kitchen Dwellers



The Montana quartet arrives on Billboard’s charts with is new studio album, Seven Devils. The set, released March 1 on No Coincidence Records, doesn’t just become the band’s first chart entry, but it’s also its first No. 1, as it launches atop the Bluegrass Albums chart with 1,000 copies sold in its opening week. The band, whose music blends elements of bluegrass, folk and rock, also starts at No. 32 on Emerging Artists.

Kitchen Dwellers comprise Torrin Daniels (banjo), Max Davies (acoustic guitar), Joe Funk (upright bass) and Shawn Swain (mandolin). The band has released three other albums—Ghost in a Bottle (2017), Muir Maid (2019) and Wise River (2022)—along with several live LPs. The group has a run of North American tour dates lined up through September.

BrhyM



The high-profile group scores not just its first overall Billboard chart entry, but its first No. 1, as its debut LP Deep Sea Vents debuts at No. 1 on the Classical Crossover Albums chart. The group released the set via Zappo Productions/Thirty Tigers.

BrhyM is a new collaboration between Bruce Hornsby and American chamber ensemble yMusic, which comprises Hideaki Aomori (clarinets), Gabriel Cabeza (cello), CJ Camerieri (trumpet), Rob Moose (violin), Nadia Sirota (viola) and Alex Sopp (flute).

Hornsby has a longstanding history on Billboard’s surveys. He has charted nine songs on the Billboard Hot 100, including his 1986 No. 1 “The Way It Is,” as well as two other top 10s (all with the Range). Plus, he has logged 10 albums on the Billboard 200, all since 1986; he and the Range won the best new artist Grammy Award in 1987. Over his career, the Virginia native has traversed numerous styles, leading to appearances on Billboard’s Americana/folk, bluegrass, country and rock charts, among others. With Deep Sea Vents, he earns his first No. 1 since Ricky Skaggs & Bruce Hornsby topped Bluegrass Albums for 15 weeks in 2007.

As for yMusic, the collective has charted four sets on Classical Albums since 2014, including the No. 1 So There, with Ben Folds, in 2015.

BrhyM has a string of North American tour dates that run through April. Hornsby has even more dates, with The Noisemakers, scheduled through October.

Autone



The Sydney-based DJ/producer (real name: Brett Austin) is scaling Billboard’s charts for the first time thanks to his collaboration with Dannii Minogue, “Thinking ‘Bout Us.” The track, released Feb. 2 on Central Station Records, debuted at No. 36 on the March 9-dated Dance/Mix Show Airplay chart and rises to No. 31 on the latest list (up 25% in spins).

Autone has previously collaborated with Jolyon Petch, WasteLand, Amanda Wilson and Kelvin Wood. He is also a member of DJ duo Oxford Hustlers.

Do2



The duo arrives on Billboard’s rankings with its breakout single “Mi Fortuna.” The song, released in September on Garmex Music, debuts at No. 25 on Tropical Airplay (up 3,933% in audience). Do2 comprises brothers Jose Juan and Mario Lora. The pair has released over two dozen songs on streaming services, all since 2018.

13 Mar 2024

Catherine O’Hara Says This Iconic Song Will Be in ‘Beetlejuice 2’

The Beetlejuice sequel just keeps getting better!

Catherine O’Hara, who starred in the original 1988 film and is set to reprise her role as Delia Deetz in the upcoming movie, sat down with Kelly Ripa for her Let’s Talk Off Camera podcast, where she revealed that Harry Belafonte’s “Day-O” will also make its return in the sequel.

“’Day-O’ is in the movie,” she confirmed. In the original movie, a ghostly couple played by Geena Davis and Alec Baldwin haunt a family that moves into their home, and forcing them to perform the Belafonte classic with their paranormal abilities.

Explore

Explore

See latest videos, charts and news

See latest videos, charts and news

Michael Keaton and Winona Ryder will also be reprising their roles as Beetlejuice and Lydia Deetz. Wednesday star Jenna Ortega is set to play Lydia’s daughter.

Trending on Billboard

“It was just very, just really loose and fun and lovely, and Michael Keaton was so happy to be there, and Jenna is so cool. Jenna Ortega is such a cool young woman,” O’Hara said. “Winona looks exactly the same!”

“The relationship between Lydia and Astrid, my character, is very important,” Ortega previously toldVanity Fair. “And it’s also really strange because it’s a lot of catching up and putting the pieces together of what’s gone on in Lydia’s life since, which is nice, I think, for anybody who loves the character and is excited to see her again.”

Beetlejuice Beetlejuice hits theaters on Sept. 6. 

13 Mar 2024

NBA YoungBoy Gun Case Paused by Judge Until Supreme Court Rules on Second Amendment Battle

A criminal case against YoungBoy Never Broke Again over federal gun charges must be put on hold until the U.S. Supreme Court decides a closely-watched Second Amendment battle this spring, a federal judge says — likely delaying a trial that had been scheduled to start in July.

In an order Wednesday (Mar. 13), U.S. District Judge Shelly Dick said she would wait to proceed until after the justices had issued their gun-control ruling since the Supreme Court’s looming decision will likely touch on the same Second Amendment questions at play in NBA YoungBoy’s case.

YoungBoy’s lawyers say the law he’s accused of breaking — a ban on convicted felons possessing firearms — is unconstitutional under the Second Amendment, which protects the right to “keep and bear arms.” The pending Supreme Court case, meanwhile, will decide the constitutionality of a similar federal ban on gun ownership for domestic abusers.

Trending on Billboard

After years of house arrest, YoungBoy (Kentrell DeSean Gaulden) had finally been set for a trial in July. Wednesday’s order will likely delay that trial since it could be June before the high court even rules on the pending case. But the delay might be worth it: If the Supreme Court rules against the gun restrictions in that case, it could greatly help YoungBoy beat his charges altogether.

The rapper’s attorney did not immediately return a request for comment.

YoungBoy was indicted by federal prosecutors in March 2021 after he was allegedly found with two guns during a September 2020 incident in Baton Rouge, La. He was charged with violating a long-standing federal law that bans convicted felons from ever again possessing guns — a rule that applied to him because he was convicted in 2017 of aggravated assault with a firearm.

In a motion filed last month, attorneys for the rapper argued that the charges against YoungBoy must be dismissed without trial because that federal ban violates the Second Amendment. They cited a landmark gun control ruling issued by the high court in 2022, which struck down a New York state law that had placed strict limits on carrying guns outside the home.

Echoing the language of that ruling, YoungBoy’s lawyers said the federal felon-in-possession statute was similarly unconstitutional because it was “inconsistent with our nation’s historical tradition of firearm regulation.”

 “This prosecution seeks to restrict and deny Mr. Gaulden’s Second Amendment right to possess a firearm based solely on his status a felon and his alleged failure to comply with bureaucratic regulations,” the star’s attorneys told the judge.

In a response this month, federal prosecutors sharply disagreed, arguing that the gun ban for convicts had already been upheld in “hundreds of cases” since the Supreme Court’s 2022 ruling. They acknowledged that a few judges had ruled otherwise, but that the “overwhelming majority of courts” had continued to enforce the law.

In Wednesday’s order, Judge Dick said she could not decide those arguments until the Supreme Court rules on United States v. Rahimi, the pending case challenging a federal law that prohibits the possession of firearms by persons subject to domestic violence restraining orders. The case, argued last fall, is expected to be decided by June.

It’s difficult to predict how the Supreme Court might rule on a given case, but the tea leaves don’t look good for YoungBoy’s position. After arguments in the Rahimi case in November, Reuters reported that the court “appeared inclined to uphold the legality” of the domestic violence gun restrictions, with several justices suggesting the Second Amendment wouldn’t stop the government from banning “dangerous” people from owning guns.

Whenever the Supreme Court rules on the Rahimi case, YoungBoy and federal prosecutors will have 14 days to file briefs on how the case should proceed.

13 Mar 2024

Jessica Biel Shares Thirst Trap Photos of Justin Timberlake: ‘You’re Welcome’

Jessica Biel isn’t being selfish with her exclusive access to Justin Timberlake‘s thirst traps. To prove that sharing is caring, the actress posted two photos on Instagram of her husband sporting a form-fitting white tank top Wednesday (March 13), two days ahead of the pop star’s new album Everything I Thought It Was.

In one picture, the “SexyBack” singer lifts up his tank to show off a chiseled six pack, flashing his teeth for the camera. In another, he smiles at something off camera, swinging his arms and modeling a brown cardigan, jeans and chunky chain necklace.

Trending on Billboard

“My husband would never post these… BUT I WILL,” Biel captioned the snaps. She preemptively added, “You’re welcome ?”

The Candy star also shared the photos on her Story, adorning them with flaming heart and heart-eye emojis.

Biel and the *NSYNC band member have been married since 2012, and they share two kids — 8-year-old Silas and 2-year-old Phineas. Earlier this week, the parents stepped out together on the Vanity Fair post-Oscars red carpet, the children’s book author looking stunning in a deep cobalt blue dress.

Timberlake recently unveiled the tracklist to Everything I Thought It Was, which features collaborations with *NSYNC, Fireboy DML and Tobe Nwigwe. The 18-song set arrives Friday (March 15), marking the “Mirrors” artist’s first proper album since 2018’s Man of the Woods.

On Monday (March 11), Timberlake crashed Jimmy Kimmel Live! for a performance of his new single “No Angels,” along with a hilarious hosting takeover — which Kimmel jokingly shut down. “I’m the guest host,” he told the perplexed night show host. “Because you were out all night at the Oscar after party.”

13 Mar 2024

Bresh: How the Traveling Party Keeps Creating Community Through the Latin Pulse

Stepping into Terminal 5 on Friday (Mar. 8) located in Hell’s Kitchen, New York City, the atmosphere was instantly electric. The venue transformed into the vibrant microcosm of Bresh, dubbed the “Most Beautiful Party in the World,” was adorned with gigantic pink flowers hanging from the balcony levels and equally stunning Japanese cherry blossom trees, heralding the imminent arrival of spring.

Navigating through the sea of faces, illuminated by the glow of lit garlands around their necks and the sparkle of the disco ball, the sense of community was palpable. The night pulsed with the sounds of reggaetón, pop, and rock en español, with hits from Bad Bunny, Lady Gaga and Soda Stereo.

From its New York City beginnings at S.O.B.’s in 2021, growing from 500 to 1,500 attendees at Webster Hall last year, and now selling out Terminal 5 with 3,000 enthusiasts, Bresh has evolved significantly. Originating from an underground party in Buenos Aires in 2016, it has transformed into a global powerhouse, marking its presence in 16 countries and over 141 cities across more than 110 venues.

Trending on Billboard

This remarkable journey is a testament to the vision and relentless drive of its founders, including DJ and graphic designer Alejandro “Bröder” Saporiti. Bresh has evolved into a movement focused on “dreaming bigger” and “creating community” through Latin culture. “Imagine how all great things start, a group of misfits with a dream and almost by accident,” Bröder tells Billboard Español. Yet, the meticulously curated experience of Bresh today is anything but accidental.

Celebrity appearances on Friday, from Lit Killah to Tuli Acosta and Paloma Mami, alongside past guests like Leonardo Messi and the World Cup champions, and artists like Rosalía, Young Miko, Duki and Emilia, underscore Bresh’s appeal. Its inclusive vibe warmly welcomes everyone, blurring the lines between celebrity and the common folk.

“We are all on the same level. The artists come down and they are just regular human beings,” adds Bröder. “The general public comes to the party and you are hanging with Rauw Alejandro or another big artist. We are all in the same place and that generates something beautiful.”

Bröder sheds light on how Bresh continues to captivate and redefine the nightlife experience: “Through this deep respect and appreciation we have for the people who join us, we’ve been able to forge a community,” he explains. “Those who attend Bresh feel part of something bigger — a global community that brings them into contact with people from all corners of the world.”

Here are five takeaways from the Bresh experience.

A quantum leap in the night

From its humble beginnings in 2016 in Buenos Aires, Bresh has charted a spectacular path, transforming from a gathering of friends to a global phenomenon. “Bresh’s growth was three-year catapult … a company run by young people,” reflects Bröder. The evolution from intimate parties to conquering stages such as Terminal 5 shows their tireless ambition: “We as a project will always dream of bigger things, of being able to reach new places, of being able to connect with more people, of being able to do shows of greater magnitude, and taking it to a more global terrain.”

Cultural relevance

Bresh has not only grown in size, but has cultivated a deep cultural resonance, creating a space where “people who go to Bresh feel part of something bigger,” says Bröder. “Today, it’s a global community.” In spaces often noted for their divisiveness, Bresh emerges as an inclusive haven, rejecting conventional barriers that oftentimes alienate.

“Sometimes I feel like I get to [other] places and the security says, ‘Yo, give me your ID!’ ‘I came to your place to enjoy it.’ And then, they say, ‘Yo, you on the list?!’ ‘Whoa, stop, crazy. I just wanted to come and enjoy myself,’” he describes. “It seems to me that we’re at a time in society and culture where there’s no place for that kind of separation anymore.” This ethos translates into an experience where each attendee finds “a sense of belonging, and being able to generate a sense of comfort.”

Stars among us

Bresh’s influence has attracted celebrities and artists looking for freedom and authenticity, claims the cofounder: “Many artists found in Bresh a space of union, a space where they can come and have fun,” he says. This phenomenon is reciprocal, with artists not only enjoying the party but also connecting with the public on a human level: “Artists come to our party to enjoy it, but of course, they see the people, they see the excitement with which they drive and they feel like sharing with them,” he adds.

“Bresh has become a place where you go to meet your peers, your colleagues, people in the industry, people who value who you are. Whether it’s Rosalía or someone from the new generation of Puerto Rico, [who attends],” says Bröder. “I remember when Young Miko came to Bresh, when she was relatively unknown — but she felt part of it, and today she is one of the most impressive figures of the new wave of música urbana.”

Global expansion

With offices in major cities around the world — like Madrid, Buenos Aires, Miami, and Mexico — and more than 200 employees, Bresh is firmly rooted both locally and internationally. “We dream of a tour, of a residency in Las Vegas… globally, continuing to deepen our reach everywhere,” Bröder stresses. This multifaceted approach ensures that no matter where it’s held, Bresh carries with it a spark of diversity and global connection.

“This year we’re going to be in Baja Beach Fest, as well as Tomorrowland for the first time for [the latter festival’s] 20th anniversary,” he notes.

The Latin pulse

“To understand the Bresh phenomenon you have to understand it as a platform, as a place where young and Latin American talent [mingle],” he explains. “I don’t like to enclose Bresh inside the box of a Latin party, because it seems to me that it can be much more than that: It’s a party with a Latin pulse. With that which characterizes us Latinos — the hospitality, the dancing, the expression, the fun, the affection, the touching, the sexy and the sensual. Many attendees understood that energy and made it their own.”

13 Mar 2024

Hipgnosis Songs Fund’s Lower Valuation Validated Investors’ Long-Held Concerns 

When the board of directors at Hipgnosis Songs Fund (HSF) cut the value of the company’s catalog by 26% last week, it admitted something investors had long believed. Although the London-listed royalty fund had amassed an enviable collection of songs since going public in 2018, changes in market conditions and the very nature of some of those rights may have merited a significantly lower fair value all along.  

A new valuation by Shot Tower Capital put the portfolio of music rights — which includes Neil Young, Shakira and Red Hot Chili Peppers, among other A-list artists and songwriters — at $1.8 billion to $2.06 billion. As recently as Sept. 30, the catalog was given a fair value of $2.62 billion by HSF’s longtime valuation expert, Citrin Cooperman (previously Massarky Consulting). Six months earlier, it was said to be worth $2.8 billion.  

Trending on Billboard

HSF’s new board of directors hired Shot Tower in the wake of investors’ Oct. 26 votes against continuation and a partial catalog sale — effectively a vote of no confidence in both the previous board and the investment advisor, Hipgnosis Song Management. Shot Tower will give HSF’s board its final due diligence by Mar. 25, and HSF will provide an update on those findings by Mar. 29. 

Some longtime critics of HSF’s previous valuation found validation in Shot Tower’s lower number. Stifel analysts claimed the new number shows HSF “clearly overpaid for catalogs,” they wrote in a Mar. 4 investor note. To date, HSF has spent about $2.2 billion on acquisitions. It raised over 1.3 billion pounds ($1.67 billion) from an IPO and seven successive offerings and has drawn $604 million from a revolving credit facility.  

Such a large decline in the valuation suggests the various experts had differing opinions on both the catalog’s revenues and the riskiness of those revenues. Shot Tower calculated HSF’s net revenue after third-party royalties and administration expenses at $121.7 million for the 12-month period ended June 30. The accounting firm BDO calculated a similar amount — $119.4 million for the 12-month period ended Sept. 30 — for a quality of earnings analysis. 

The higher $2.62 billion valuation appears to be based on a higher annual net revenue. A July 2023 investor presentation put HSF’s annual revenue at $134 million (based on a $2.8 billion portfolio fair value and an implied historic net publishers share, or NPS, multiple of 20.89). That’s $12.3 million more than Shot Tower’s figure and $14 million more than BDO’s estimate. The difference in annual revenues, however, only explains part of the difference in valuations.  

The discount rate appears to have also played a major role in HSF’s lower valuation. Shot Tower used a weighted average discount rate of 9.63% for the entire catalog, more than 1.1 percentage points higher than the discount rate used for previous valuations. Experts Billboard spoke with called the rate “on the high side” and “a particularly high number.” Some other recent valuations used a lower discount rate. Discount rates and valuations are inversely related: A higher discount rate will produce a lower present value of cash flows, and vice versa.  

Until this week, HSF had been valued using an 8.5% discount rate since the Sept. 30, 2020, valuation conducted by Citrin Cooperman. FTI Consulting’s valuation of a Kobalt portfolio used in an asset-backed security (ABS) offering in February used an 8.5% discount rate for songs older than 18 months (and 11.75% for songs aged 3 to 18 months). FTI’s valuation of the portfolio behind Concord’s $1.65 billion ABS used an 8.25% discount rate for catalog songs (and 11.75% for recorded music frontline content and options for future releases).  

The HSF discount rate has been a point of contention amongst analysts and investors in recent years. When HSF lowered its discount rate to 8.5% in 2020, analysts complained the valuation increased even though the investment manager had not yet added value and market assumptions hadn’t changed. When interest rates started rising in 2022, analysts wondered why HSF stuck with the 8.5% discount rate.

The discount rate depends on the riskiness of those future cash flows. Perfectly safe revenue is discounted using a risk-free rate of return such as a 10-year U.S. Treasury Rate. Because no business is without risk, a company’s revenues would merit a higher rate. If a company carries debt, its borrowing cost — also more than the risk-free rate — would also be baked into the discount rate.  

Shot Tower’s discount rate took a variety of factors into account, according to the press release, which could explain how it got to 9.63%. For example, Shot Tower found that 65% of HSF’s revenue derived from passive rights where the company does not control publishing, administration or licensing. In many cases, HSF owns only a songwriter’s share rather than the publisher’s share, or the producer’s royalties from a sound recording. Investors might have assumed that HSF had more control over administration, distribution and licensing: In HSF’s annual report for the year ended March 31, 2022, it said it had 100% interest ownership in 96% of the songs in its catalog (138 of the 146 catalogs).

“That control has a lot of value,” explains an industry insider. Strategic buyers — usually music publishers and record labels — will pay a premium to control a song’s administration and licensing or a recording’s distribution. Passive rights typically trade at a discount because they carry more potential risks of counterparts (co-writers, for example) and potential collection risk (as is the case when royalties are re-directed from a label rather than received from a PRO). With a writer’s share, “you’re a lot more along for the ride,” this insider says. The producer royalties that HSF acquired — such as RedOne, Jimmy Iovine and Timbaland — are also passive.

For a company looking to bolster its credibility with investors, Shot Tower’s valuation was a double-edged sword. The lower number confirmed some investors’ long-held belief that the portfolio is worth less than HSF had claimed. But the decrease in valuation further hurt HSF’s share price. Shot Tower’s lower valuation prompted HSF’s board to commit to using its cash to pay down debt rather than resume the dividend it suspended in October. So, while the lower valuation better reflected HSF’s market capitalization, the continued loss of a dividend was the likely cause behind the stock dropping 11% the day of the announcement.

13 Mar 2024

Selena Gomez’s 20 Biggest Hot 100 Hits, From ‘Love Song’ to ‘Lose You to Love Me’

From singing to acting, producing, beauty and philanthropy, Selena Gomez keeps an extremely busy schedule. The multi-hyphenate has done almost everything there is to do in and around the entertainment industry, picking up a number of awards and chart accolades along the way.

One place where the Texas native has thrived since making her musical debut in 2008 is on the Billboard Hot 100. She scored her first entry on the chart with “Tell Me Something I Don’t Know” from starring vehicle Another Cinderella Story, peaking at No. 58 in ’09. The track would eventually find a new home on Gomez’s first album with her band, The Scene: Kiss & Tell, which also spawned such hits as “Falling Down” and “Naturally.”

After her breakthrough Disney Channel series Wizards of Waverly Place wrapped, the Rare Beauty founder moved on to a solo music career. She dropped her debut album Stars Dance in 2013, and one of its singles, “Come & Get It,” reached No. 6 on the Hot 100 that May, marking Gomez’s first top 10 hit. Six years later, she’d score her first No. 1 on the chart with “Lose You to Love Me,” a heart-wrenching ode to self love, released in the aftermath of her breakup from Justin Bieber.

From her days as a rock frontwoman to her more mature pop hits, Gomez has become a chart staple of the late 2000s and 2010s. Keep reading to see her 20 biggest Hot 100 hits — so far, at least — below.

Selena Gomez’s Biggest Billboard Hot 100 Hits ranking is based on weekly performance on the Hot 100 through the charts dated March 16, 2024. Songs are ranked based on an inverse point system, with weeks at No. 1 earning the greatest value and weeks at lower spots earning the least. Due to changes in chart methodology over the years, eras are weighted differently to account for chart turnover rates during various periods.

13 Mar 2024

High ‘Praise’: Elevation Worship, Brandon Lake, Chris Brown & Chandler Moore Hit No. 1 on Hot Christian Songs

Elevation Worship’s “Praise” — featuring Brandon Lake, Chris Brown and Chandler Moore — rises to No. 1 in its 42nd week on Billboard’s streaming-, airplay- and sales-based Hot Christian Songs chart dated March 16.

During the March 1-7 tracking week, the song surged by 30% to 3.3 million official U.S. streams and 27% to 1,000 downloads sold, according to Luminate. On Christian Airplay, it rises 21-20 for a new high, up 49% to 1.6 million audience impressions.

Elevation Worship frontman Brown co-wrote the song with Lake and Moore, as well as Pat Barrett, Cody Carnes and Steven Furtick.

“It is such an honor to be No. 1 again,” Brown tells Billboard. “We’re blown away by what God has done with ‘Praise,’ and we’re thankful for everyone who has streamed, tuned in and shared the song. We hope it is a great reminder of all the reasons to praise God not just for what He’s done, but for who He is.”

The latest gains for “Praise” were sparked by the March 1 release of the five-song Praise EP featuring five different renditions of the song, including its rootsy “Carolina Version,” the Spanish-language “Alaba” take and the dance-driven “Alastair Remix.”

“Praise” marks the third Hot Christian Songs No. 1 for the Charlotte, N.C.-based Elevation Worship, the fourth chart-topping billing for Lake and the first each for Brown and Moore.

Meanwhile, “Praise” dethrones Lake’s solo hit “Gratitude” after a 28-week reign.

Gavin Leads ‘Again’

Kelontae Gavin banks his third total and consecutive No. 1 on the Gospel Airplay chart with “Live Again” (up 2% in plays).

Jekalyn Carr, who has notched seven Gospel Airplay No. 1s as a recording artist, solely wrote the song.

The 24-year-old Gavin, from Charleston, S.C., previously led the list with “Great” for a week in December 2021, and “Hold Me Close” for one week, that February. His first of four chart entries, “No Ordinary Worship,” became his first top 10, reaching No. 5 in February 2019.

13 Mar 2024

‘Venom 3’ Gets Official Title & Release Date

HipHopWired Featured Video

Premiere Of Columbia Pictures'

Source: Albert L. Ortega / Getty

In the post-credits scenes for both Venom: Let There Be Carnage and Spider-Man: No Way Home, a possible Venom and Spider-Man crossover was teased as fans have been clamoring for Tom Hardy’s anti-hero and Tom Holland’s web-head to finally come face-to-face on the big screen.

Unfortunately, that may not happen. On Tuesday (March 12) the official title to the third installment of Sony’s successful Venom franchise was revealed. And it really seems like Hardy will be hanging up his black alien symbiotie suit by the time the end of credits roll. According to Variety, Venom 3 will be dubbed Venom: The Last Dance, and judging from the title alone the film will serve as Venom’s swan song in Sony’s Spider-Verse that’s been struggling like hell to get off the ground.

Though their have been rumors that the film will ultimately lead to Venom making his way into the MCU to finally meet your friendly neighborhood Spider-Man, details about the film have remained under wraps with just rumors that the Marvel villain, Toxin, would be the main antagonist in the film and Chiwetel Ejiofor will be taking on the role of another villain, Orwell Taylor.

Lackluster, yes, we know. But this is apparently the road that writers for Venom: The Last Dance have chosen to go down for what seems to be the final installment.

Variety reports:

Sony first announced the third film was in the works during its CinemaCon presentation in April 2022. The project will be the first appearance of Venom since a credits sequence cameo in 2021’s “Spider-Man: No Way Home.”

In February, Temple opened up about the project to Variety, teasing that filming was almost complete. “We’re coming close to an end at the moment,” she said. “It’s been a wild, wonderful ride. It’s so new to me. It’s a big set! This is crazy. It’s been so much fun and I got to work with such cool people. I’ve been so lucky in my career to just have the most incredible casts. I can’t wait for it to get out into the world. I think it’s going to be a good one.”

After the atrocity that was Madame Web, it’s probably best for Sony to just put it’s Spider-Man-less Spider-Verse out of its misery already.

Venom: The Last Dance is set to hit theaters Oct. 25. If it proves to be the final film in the franchise with no connection to any Spider-Man whatsoever (not even Tobey McGuire or Andrew Garfield), the franchise will not be missed. No shots.

Will you be checking out Venom: The Last Dance when it hits theaters this fall? Let us know in the comments section below.