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01 Sep 2023

Spotify Shares Rose 15% to Lead Soaring Music Streaming Stocks This Week

Spotify led a group of high-flying streaming stocks this week by gaining 14.8% to $157.54 per share, increasing its market capitalization by nearly $4 billion to $30.7 billion. The world’s largest streaming company, which boasted 220 million subscribers as of June 30, has clawed back nearly all its losses since its share price dropped 14% following its second-quarter earnings on July 25. Through Friday (Sept. 1), Spotify shares are up 99.5% in 2023, second only to streaming company LiveOne’s 191.9% gain. 

The 21-stock Billboard Global Music Index improved 4.7% to 1,359.74, its highest mark in four weeks and the first gain since the week ended July 21. Twelve stocks finished the week in positive territory, seven stocks dropped and two were unchanged. The index outperformed many key indexes. In the United States, the Nasdaq composite gained 3.2% to 14,031.81 and the S&P 500 improved 2.5% to 4,515.77. In the United Kingdom, the FTSE 100 rose 1.7% to 7,464.54. South Korea’s KOSPI composite index climbed 1.8% to 2,563.71.

Six music streaming stocks improved by an average of 6.7% this week. Led by SiriusXM’s 11.4% gain, three radio stocks had an average gain of 4.9%. Led by Sphere Entertainment Co.’s 7.9% gain, four live music stocks had an average gain of 1.7%. Eight recorded music and publishing stocks had an average gain of 0.5% and were led by HYBE’s 5.1% improvement. 

Close behind Spotify was Chinese music streamer Cloud Music, which gained 13.4% to HKD 79.35 ($10.12). Cloud Music gained 3% last week following mid-year results that showed revenue improved 33.8% to 4.26 billion RMB ($587 million). This week’s gain came amidst a report by Reuters that Cloud Music was forced by Chinese authorities to remove live streaming features that are sometimes used for illegal gambling. One analyst estimated the anti-gambling crackdown to eliminate 20% to 70% of live streaming revenue at Cloud Music, Tencent Music Entertainment and broadcasting platform Huya. 

Tencent Music Entertainment shares rose 8.5% to $7.03, cutting the stock’s year-to-date loss to 15.1%. LiveOne shares jumped 11.9% to $1.88. Shares of French music streamer Deezer were unchanged at 2.07 euros ($2.24).

The lone laggard amongst music streaming stocks this week was Abu Dhabi-based Anghami. With its share price down 8.5% this week — the worst performance in the Billboard Global Music Index — investors apparently don’t see Anghami’s need for debt financing as a positive sign for the company. Anghami shares dropped 11% on Thursday after the company announced in an SEC filing the sale of $5 million of convertible debt related to an investment by the venture arm of Saudi media company SRMG that was announced on August 23. After dropping another 9% to 81 cents on Friday, Anghami shares ended the week well below the $1 floor for companies trading on the Nasdaq. 

01 Sep 2023

Charter Spectrum Customers Experience ABC & ESPN Blackout Due To Dispute With Disney

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In this photo illustration the Charter Spectrum logo seen on...

Source: SOPA Images / Getty / Charter Spectrum

Charter Spectrum customers, unfortunately, got caught up in Charter Communications’ dispute with Disney.

Reuters reports Disney let Charter Communications and its customers know it was not playing when it pulled several channels, including ESPN and ABC, over an unresolved distribution agreement.

The move left Spectrum customers in massive markets like New York and Los Angeles in the dark and during significant sporting events like the return of College Football and the U.S. Open.

Charter Spectrum serves more than 32 million customers in 41 states and was paying Disney roughly $2.2 billion in annual programming costs.

Per Reuters:

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Charter flashed a message on screen that urged viewers to contact Disney. “We offered Disney a fair deal, yet they are demanding an excessive increase,” it read.

“The rising cost of programming is the single greatest factor in higher cable TV prices, and we are fighting to hold the line on programming rates imposed on us by companies like Disney.”

The dispute is mainly over sports network ESPN, which does not have a streaming service and is a big cable attraction despite losing subscribers each year to cord-cutting.

This Dispute Could Push Disney Into A Direct-to-Consumer Model

As expected, the “unresolved distribution” between the two companies is hurting both company’s stock prices. Reuters reports Spectrum’s shares fell 2% after losing what it describes as the “lynchpin” of its video service in ESPN.

Disney’s shares fell to 2.7%, joining other media companies, Warner Bros Discovery and Paramount Global, which lost between 4% and 6% thanks to down numbers on their streaming platforms.

The website further reports if this dispute continues, it could speed up the House of The Mouse’s direct-to-consumer ambitions. Returning CEO Bob Iger said the company is actively searching for a “strategic partner” to start a joint venture or purchase a stake in the sports network to bring it directly to customers.

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Photo: SOPA Images / Getty

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01 Sep 2023

Electric Zoo Cancels Day 1 in New York

The first day of the Electric Zoo Festival on New York’s Randall’s Island was abruptly canceled hours before it was set to start, organizers announced Friday (Sept. 1) on X (formerly Twitter).

In the statement, organizers cited “global supply chain issues” as the cause of the cancellation and promised to reopen Saturday. Acts scheduled to play Friday include Kx5, Galantis, The Chainsmokers, Excision and many more.

“Despite our tireless efforts and round-the-clock commitment, we have made the painful decision to cancel the first day of Electric Zoo,” organizers wrote. “This year has presented unparalleled challenges for everyone. The global supply chain disruptions have impacted industries worldwide, and, sadly, our beloved festival has not been immune. These unexpected delays have prevented us from completing the construction of the main stage in time for Day 1.”

Fans who bought tickets for Friday will receive a refund. Fans with multiday tickets “will receive credit for one of the days” to be applied to a future event. The festival will now open at 1 p.m. on Saturday, and “we look forward to uniting with all of you to celebrate life and music, and dance through the sunset with the iconic backdrop of the New York skyline, right in the heart of New York City,” organizers wrote.

“While words cannot fully express the depth of our remorse about Day 1, please know that this decision was not made lightly,” organizers wrote. “We ask for your forgiveness and understanding during this challenging time. We are profoundly sorry for all the inconvenience and disappointment this will cause.”

The festival’s social media pages announced the news just after 11:30 a.m. ET Friday, hours before doors for the event were set to open at 3 p.m.

Made Events, launched by Long Island City husband-wife team Mike Bindra and Laura De Palm and creators of the long-running Electric Zoo festival, was sold to an investment group that owns the Avant Gardner nightclub and venue in Brooklyn in July 2022 for $15 million.

In 2014, Made Event was acquired by Bob Sillerman‘s electronic dance music conglomerate SFX, which filed for bankruptcy in 2016 and eventually landed in the hands of senior creditor Andrew Axelrod. SFX was rebranded as LiveStyle by former chief executive Randy Phillips, who managed the festival properties for Axelrod and led efforts to sell off SFX’s assets to new buyers. Made Event was the last U.S. festival property held by LiveStyle to be sold.

01 Sep 2023

HYBE x Geffen’s ‘The Debut: Dream Academy’ First Episode Is Here: See the Girl Group Hopefuls Placed in Teams

The Debut: Dream Academy has arrived.

The first episode of the competition series aired on Friday (Sept. 1) featured all 20 contestants as they watched a conversation between HYBE Chairman Bang Si-Hyuk and Interscope Geffen A&M Records CEO John Janick, as they give advice on what it takes to succeed in a girl group. “If you don’t love music, you won’t succeed,” he explains.

Janick added, “I feel like to be a successful part of this group, it’s going to require a huge amount of creativity and passion. I think with every artist, that’s what we’re looking for.”

The duo then ran down the first mission of the competition series, a showcase that aims to “level up your skills as a global girl group,” in which the contestants are split into two dance teams and two vocal teams. The mission will result in two eliminations. “Team members are crucial business partners, and it’s important to know proper work etiquette with your business partner,” Bang Si-Hyuk explained.

The executives then explained the two other missions of the series. According to an explainer also shared to Dream Academy‘s YouTube page, in the team mission, the contestants will head to Korea to compete before another series of eliminations. The artistry mission will test the contestant’s “ability to pull off unique concepts” before the final girl group is revealed at the live finale on Nov. 17. 

Finally, the girls were split into their teams. The first dance team, which will be performing BLACKPINK’s “Pink Venom,” features Daniela, Megan, UA, Adéla and Hinari. The second dance team, which will be performing NewJeans’ “OMG,” features Emily, Ezrela, Marquise, Yoonchae and Mei. The first vocal team, which will be performing a mashup of Robyn’s “Dancing on My Own” and Billie Eilish’s “Happier Than Ever,” features Karlee, Lexie, Iliya, Brooklyn and Manon. The second vocal team, which will be performing Paramore’s “Still Into You,” features Sophia, Lara, Celeste, Samara and Nayoung.

The diverse group of young women were selected from more than 120,000 submissions after HYBE and Geffen announced the joint venture — HYBE x Geffen Global Girl Group Audition — in November 2021.

Watch the full first episode below.

01 Sep 2023

Will Taylor Swift’s ‘The Eras Tour’ Top This List of the Top 10 Music Concert Films of All Time?

Taylor Swift must be accustomed by now to setting records on the Billboard charts. That never gets to be old hat – ask any artist – but she needs new worlds to conquer. And with the release of Taylor Swift | The Eras Tour concert film on Oct. 13, we can see how she does on the film box office charts. If The Eras Tour film grosses more than $73 million, it will become the top-grossing contemporary music concert film of all time, according to boxofficemojo.com.

Swift’s film will be available in AMC theaters in the U.S., Canada and Mexico, as well as certain other movie operators that AMC is working with in those three countries. AMC will offer the film in IMAX and Dolby Cinema as well as standard screenings, with fees varying by format and theatre.

Every U.S. AMC Theatre location will screen the movie at least four times each day on Thursdays, Fridays, Saturdays and Sundays during its run. Tickets are already on sale. Read on for more information on how to get tickets here.

The Eras Tour film was shot over the course of Swift’s first three shows at SoFi Stadium in Inglewood, Calif., where she performed a total of six shows in early August.  An average Eras Tour concert runs for more than three hours, but the concert film has an official runtime of 2 hours, 45 mins. It’s unclear what parts of Swift’s show her team excised or trimmed to get the movie down to a shorter length.

The Eras Tour film was directed by Sam Wrench, who received a Grammy nomination late last year for directing Billie Eilish Live at the O2, which was a contender for best music film. Wrench has also worked on projects by BTS, Lizzo, Ariana Grande, Justin Bieber, The Weeknd and Mary J. Blige.

This list counts only domestic box-office receipts, which explains the absence of previous Swift projects such as the Netflix documentary Miss Americana (2020).

Here are the 10 highest-grossing contemporary music concert films, according to boxofficemojo.com. (Movie buffs should check out our lists of the top 10 box-office hits of 2023 and the 30 highest-grossing films directed or co-directed by women. Spoiler alert: Barbie heads both lists. We also posted a list of the highest-grossing R-rated movies. No Barbie on that one.)

01 Sep 2023

Billboard Explains: The Women of Hip-Hop

For this latest episode of Billboard Explains, the topic of discussion anchors around the women of hip-hop. While names like Drake, Kendrick Lamar and Travis Scott continue to cause waves in the landscape, it’s a golden age in the genre thanks to the plethora of female MCs wreaking havoc on the mic.

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Before the scorching success of Cardi B, Nicki Minaj, Megan Thee Stallion and more, many pioneers broke through the seams of hip-hop and paved the way for generations to come. Hip-hop’s first female artist was MC Sha-Rock, who originally started as a Funky 4 + 1 group member. Following Sha-Rock were MC Lyte and Roxanne Shanté, who further fortified the lanes of female hip-hop with their presence in the ’80s. Queen Latifah, Lil’ Kim, Salt-N-Pepa, Foxy Brown, Missy Elliott and Eve were among some of the thriving stars in the ’90s and ‘2000s who placed the welcome mat for women looking to step onto the scene.

Even with contrasting styles, their lyrics, individuality and unshakable confidence were the ingredients needed to step inside the lion’s den and prove to be fierce competitors alongside their male counterparts.

“It’s took years, but it’s just that time. They’re not going to be held back,” Nas tells Billboard regarding the feats of female rappers.

Today, sisterhood in hip-hop is at an all-time high, as many collaborations find female artists pairing together and, in some cases, legacy acts joining forces with rookie talents.

“We have our own fanbases, messages, shows — our own everything,” says Baby Tate. “I don’t really see any of this as a competition. Everybody has their own story.”

Watch the newest episode of Billboard Explains on The Women of Hip-Hop.

01 Sep 2023

Selena Gomez’s Chunky Shoe Will Complete All Your Fall ‘Fits: Shop the Exact Style Here

All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.

Selena Gomez doesn’t just have us dancing the night away to her newest single “Single Soon,” the Only Murders in the Building star has also been sporting some fashionable outfits that are not just aspirational, but affordable.

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Most recently, the singer stepped out in a pair of Aldo platform loafers paired with a LilySilk striped sweater, biker jacket and matching mini skirt for an interview at the SiriusXM Studios in Los Angeles on Wednesday. The style featured a lug-sole look with a chunky heel and platform height. Unlike a lot of celebrity ‘fits, though, these come with a wallet-friendly price tag of $100 — and they’re still in stock!

Tony Fly, Selena Gomez, and Symon

Tony Fly, Selena Gomez and Symon at the SiriusXM Studios in Los Angeles at SiriusXM Studios on August 30, 2023 in Los Angeles.

Rodin Eckenroth/Getty Images for SiriusXM

The Rare Beauty founder joins a growing list of celebs, including Addison Rae, who have been spotted wearing Aldo — making them not just a trendy brand, but celebrity-approved.

This isn’t the first time Gomez has stepped out in a piece of affordable fashion; she previously dazzled us in a Revolve dress featured on the cover of her single and before that showed off a ’90s-approved denim maxi skirt from Zara. Overall, she’s proving that style doesn’t have to be outrageously expensive to be fashionable — and it makes it easier for us fans to incorporate her style into our own.

Keep reading to shop the exact shoe and some similar styles below.

black lug sole loafers in patent leather

Aldo

Baberiel Loafer

$90

Bring a touch of Gomez to your everyday style in her choice of loafers by Aldo. The patent leather upper is paired with a chunky lug sole that will elevate your looks — literally.

black patent leather loafers

Lulus

Maysie Black Patent Flatform Loafers

$17.40 $39 55% off% OFF

For a total steal, you can snag these similar Lulu loafers, which come with a shiny patent leather material and flat buckle-like strap on top. It’s versatile enough to sport with a midi skirt, trousers or some slouchy jeans.

black and gold chunky loafers with gold detail on top

Amazon

Steve Madden Lando Loafer

$79.00

Consider these a golden pick as this Steve Madden loafer not only shows off a similar style to Gomez’s, but has a gold accent on top that’ll really make your feet pop.

black patent leather loafers

Madewell

The Vernon Loafer

$95.55 $158 40% off% OFF

Want the look minus all the platform? This Madewell loafer comes with a shorter heel heighth while still boasting that sleek patent leather look and a penny strap for added style.

For more product recommendations, check out our roundups of the best NewJeans outfits, Taylor Swift outfits and Billie Eilish outfits.

01 Sep 2023

U.K. Singer-Songwriter Faye Fantarrow Dies at 21 of Rare Brain Tumor

Faye Fantarrow, a U.K. singer-songwriter whose debut came out earlier this year, has died at age 21, her publicist confirmed. The rising neo-soul talent died on Aug. 26, and her death was first announced on social media on Aug. 31 by her mother, Pam.

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Fantarrow previously beat leukemia twice since being first diagnosed at eight years old. Nearly a year ago, doctors discovered a rare Glioma tumor in her brain. The release date of her debut EP, AWOL, was moved up to an earlier date (Feb. 10) to accommodate the grim prognosis; around the time of its release, Billboard hailed her distinctive vocal phrasing and the pulsing rhythm of the EP’s title track. AWOL came out on Dave Stewart’s Bay Street Records; following her passing, the Eurythmics member shared how “devastated” Fantarrow’s death left him in a statement.

“I can’t put into words how devastated I was when, just after spending an amazing creative time with Faye last summer making her debut album, Faye found out she had this very aggressive brain tumor,” Stewart said. “Faye was a joy to be around, full of fun, laughter and sharp as a razor — a true artist in every sense. Being with her and watching her at work is a diamond stuck in my head, moments I will never forget. I’m lucky to have met Faye and her Mum Pam, two humans together battling against all odds for Faye’s survival. It has been both traumatic and beautiful to witness their strength and dignity and I am so sorry the world only got to witness Faye’s genius for such a short time. She is one of the true greats, a northern girl on fire with her lyrics and melodies. I loved her deeply.”

“There is a gaping void in our lives that can never be filled, our beautiful, compassionate, intelligent and immensely talented girl has gone,” her mother Pam wrote in a social media post. “Faye fought with a strength and bravery that kept her with those she so desperately loved and who loved her beyond compare.”

Prior to her death, Fantarrow raised £235,000 (close to $300,000 USD) on Justgiving for an experimental treatment in California. She visited the U.S. for the first treatment but proved too sick for follow-ups. The extra money from the Justgiving campaign was “donated to a charity to fund further life-saving research in Faye’s memory,” per reps.

You can listen to her debut EP below.

01 Sep 2023

JAY-Z, Team Roc Providing Legal Aid To Wisconsin Man Wrongfully & Brutally Arrested

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JAY-Z & Team Roc Providing Legal Aid To Police Brutality Victim

Source: Kevin Mazur / Getty / JAY-Z

JAY-Z is once again using his influence to aid those in need, specifically those who are victims of shady law enforcement.

Spotted on TMZ Hip Hop, JAY-Z and Roc Nation are coming to the aid of a Wisconsin man who was wrongfully and violently arrested, and despite the police admitting they threw coughs on the wrong man, he is still facing charges.

Per TMZ Hip Hop:

TMZ Hip Hop has learned Jay-Z’s Team ROC org has enlisted powerhouse lawyer Alex Spiro to rep Jermelle English Jr. and his family … in hopes of getting all charges dropped, and possibly to sue the Kenosha PD.

Team ROC Managing Director Dania Diaz tells TMZ Hip Hop, “The reckless arrest of Jermelle English Jr. and the careless endangerment of his infant child by the Kenosha Police Department is an absolute travesty … the Team ROC team is here to support Jermelle and his family through this traumatic experience, demand justice and hold the Kenosha police officers accountable.”

Kenosha PD’s Leo Viola tells us the department is still undergoing an internal investigation, and plans to be extremely transparent with the public once it’s completed. He adds, the Dept. initiated its probe without any outside pressure.

What Exactly Went Down That Day

According to reports, English Jr. was mistaken for a suspect in a hit-and-run. A Black couple and a child involved in an accident ran towards the Kenosha, Wisconsin Applebee’s.When police officers arrived, employees pointed them toward English Jr., sitting with his family at the time. In a video captured by an employee, English Jr. can be seen holding his child as the cops approach him.



“He tried to go the other way, and they eventually tackled him into a wall, and the baby had his head on the wall. They had at least four cops on his back,” said restaurant manager Jennifer Harris. “At least a cop or two, each grabbing his arm. And still, one cop punching him over and over again in his face.”

Witnesses in the restaurant during the incident said English Jr. and his family were there well before the incident took place.

Police later realized they had the wrong man when they found the family they were looking for hiding in the Applebee’s bathroom.

Even though he was cleared, police still had the audacity to charge him and the woman he was with, Shanya Boyd, with disorderly conduct, resisting and obstructing an officer. Boyd was also accused of marijuana possession.

Spiro is working to get all of the charges dismissed.

The Kenosha PD has launched its internal investigation into the incident.

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Photo: Kevin Mazur / Getty

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01 Sep 2023

Meg Ryan’s Rom-Com Return Will Have to Wait Until After Taylor Swift’s ‘Eras Tour’ Film

Taylor Swift is continuing to dominate theaters after announcing that she’ll be releasing her Eras Tour film on October 13. On Friday (Sept. 1), production company Bleecker Street Films announced that its film What Happens Later, starring and directed by Meg Ryan, will be pushing back its original Oct. 13 release date.

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“So we’ll take our time…Are you ready for it?” the announcement on X (formerly known as Twitter) reads, in reference to Swift’s “…Ready For It?” off her 2017 album Reputation. “Meg Ryan ends her 14-year rom-com hiatus and the #Megaissance begins with #WhatHappensLater, now happening…later,” they added. “Coming only to theaters November 3!”

According to a press release from AMC Theatres, Taylor Swift | The Eras Tour has broken all existing records for single-day advance ticket sales revenue in the chain’s 103-year history with $26 million in the first 24 hours of on-sale. The $26 million figure also crushes the previous record for one-day sales for a single title, blowing by 2021’s Spider-Man: No Way Home, which racked up $16.9 million in its first 24 hours; according to AMC, The Eras Tour movie bested the the Spider-Man numbers in its first three hours of on-sale on Thursday.

Beginning October 13, every U.S. AMC Theatre location will run the movie at least four times per day on Thursday, Friday, Saturday and Sundays, with tickets for priced at $19.89 plus tax for adults and $13.13 for children and seniors plus tax (except for AMC’s branded premium large-format screens.) The film will be available in AMC theaters in the U.S., Canada and Mexico, with tickets on sale now here and here.

Swift herself also posted a trailer for the film, writing, “The Eras Tour has been the most meaningful, electric experience of my life so far and I’m overjoyed to tell you that it’ll be coming to the big screen soon. Starting Oct 13th you’ll be able to experience the concert film in theaters in North America! Tickets are on sale now at http://taylor.lnk.to/TSTheErasTourFilm…. Eras attire, friendship bracelets, singing and dancing encouraged. 1, 2, 3 LGB!!!! (iykyk).”