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Tencent Music Entertainment’s 7% Gain Leads Music Stocks This Week

Tencent Music Entertainment topped all music stocks this week after second-quarter earnings on Tuesday helped the company’s share price gain 7.2% to $6.53. The Chinese music streaming company, traded on both the New York Stock Exchange and the Hong Kong Stock Exchange, reported second quarter revenue of $1.01 billion (up 5.5% year over year) and net profit of $179 million (up 51.6%).

Investors tend to react positively when companies report strong subscriber numbers and TME had good news about the surging Chinese market. TME finished the quarter with 99.4 million subscribers, up 20% from the prior-year period, and for the first time its music services (QQ Music, Kuguo Music and Kuwo Music) generated more revenue than its social entertainment services (WeSing). Users’ willingness to pay for copyrighted music, whether to listen to songs or enjoy premium features, “marks a significant step along TME’s growth trajectory,” said CEO Cussion Pang during Tuesday’s earnings call.

Tencent Music Entertainment was the only music stock with a double-digit gain and one of only two stocks to finish the week in positive territory. With Round Hill Music Royalty Fund unchanged, the remaining 18 stocks in the 21-stock Billboard Global Music Index lost ground this week. The index fell 3% to 1,299.04, the fourth straight week the index declined, and has lost 10.2% of its value since peaking at 1,447.32 for the week ended July 21.

Streaming companies (Spotify, TME, Cloud Music, Anghami, Deezer) dropped by an average of 1%. Live music companies (Live Nation, MSG Entertainment, Sphere Entertainment Co., CTS Eventim) had an average decline of 3.1%. Record labels, publishers and distributors (Universal Music Group, Warner Music Group, HYBE, SM, Believe, Round Hill, Hipgnosis Songs Fund) fell an average 4.6%. Radio and satellite broadcasters (SiriusXM, iHeartMedia, Cumulus Media) dropped by an average of 5.1%.

Music stocks’ decline reflected the losses seen by stocks around the world this week. Higher bond yields have helped dampen interest in equities and investors are increasingly looking for safer places to put cash. In the United States, the S&P 500 declined 2.1% and the Nasdaq composite fell 2.6%. In the United Kingdom, the FTSE 100 dropped 3.5%. South Korean’s KOSPI composite index fell 3.3%, the biggest one-week point and percentage decline since Sept. 2022, due to falling operating profits, concerns about the Chinese economy and high interest rates.

K-pop stocks were among this week’s biggest losers. Shares of YG Entertainment and JYP Entertainment, neither of which are in the index, fell 12.1% and 13.3%, respectively. HYBE shares dropped 7.3% and SM Entertainment fell 6.7%. All four K-pop companies’ share prices have made large gains this year, however. Even after this week’s declines, SM, YG and JYP have gained between 63% and 66% while HYBE shares are up 36.3%. 

Lady Gaga Celebrates 15 Years of ‘The Fame’ With Translucent Blue Vinyl Release

Celebrations are in order for Lady Gaga, as her debut album The Fame, turned 15 years old on Saturday (Aug. 19). To celebrate the occasion, the pop star — who formally launched her pop career with the record and became one of the genre’s most formidable forces following its arrival in 2008 — released a translucent blue anniversary version of the album, available now for purchase on her web store.

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The anniversary reissue consists of a double LP the original 15 songs featured on the record, including the album’s four hit singles: “Just Dance (feat. Colby O’Donis),” “LoveGame,” “Paparazzi,” “Poker Face,” “Eh, Eh (Nothing Else I Can Say),” “Beautiful, Dirty, Rich,” “The Fame,” “Money Honey,” “Starstruck (feat. Space Cowboy & Flo Rida),” “Boys Boys Boys,” “Paper Gangsta” “Brown Eyes,” “I Like It Rough,” “Summerboy” and “Disco Heaven.” The album is currently available for pre-order from Gaga’s official merch store.

In addition to the translucent blue anniversary vinyl, Gaga also dropped several new apparel items to commemorate the fame’s 15th anniversary with several tees, sweatshirts, hoodies and more.

The Fame peaked at No. 2 on the Billboard 200 and produced the first of Gaga’s top 10 singles — “Just Dance” and “Poker Face” hit No. 1 on the Billboard Hot 100, spending 49 and 40 weeks respectively on the charts. “Love Game” and “Paparazzi” peaked at Nos. 5 and 6 respectively, with the former spending 22 weeks and the latter 27 weeks on the chart. The Fame has since gone six times platinum, earned five Grammy nominations, including for album of the year (it took home Best Electronic/Dance Album) and is considered one of the greatest pop debut albums.

Janet Jackson Co-Signs Black Girl Sunscreen: ‘So Worth Supporting’

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August is Black Business Month and Janet Jackson is putting the spotlight on a sunscreen product that she got introduced to while enjoying her vacation in Italy. The music legend took to social media on Friday (Aug. 18) to gush over Black Girl Sunscreen.

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According to Jackson’s post, Survival of the Thickest star Tasha Smith introduced her to the sunscreen. “Enjoying the Italian sunscreen and @tashasmith4real introduced me to #blackgirlsunscreen,” Jackson wrote. “While it was made with people of color in mind, it can be used on every skin tone and feels so good. So worth supporting. Wishing the very best to all the entrepreneurs out there.”

Jackson has been vacationing in Italy after wrapping up her Together Again Tour in June. The jaunt closed with a whopping $51 million in revenue, her highest grossing tour to date, but she’s not done with the stage just yet. Jackson is slated to perform at the Thunder Valley Casino Resort in Lincoln, Calif. on Oct. 27 and the OneMusic Fest at Atlanta’s Piedmont Park on Oct. 28. Get tickets here.

Black Girl Sunscreen doubles as a moisturizing lotion and is designed for everyday use. The sunscreen features “key ingredients” including avocado, jojoba, cacao, carrot juice and sunflower oil, to protect your skin from sun damage and there’s no leftover white or purple residue. Black Girl Sunscreen dries completely clear making it perfect to use before outdoor activities, but you can also wear it under makeup, according to the company.

Entrepreneur Shontay Lundy launched Black Girl Sunscreen in 2016 with a goal of starting a “conversation globally around sun safety to educate and protect melanin beauties worldwide.”

Black Girl Sunscreen is available at major retailers such as Walmart, Target, Amazon, Ulta Beauty, Walgreens, CVS and BlackGirlSunscreen.com. The water resistant, SP5 30, SPF 45 and SPF 50 sunscreen comes in a lotion and spray form for adults and kids in large and travel sizes. Black Girl Sunscreen works for different skin tones and of course, it’s not just for women and girls. Anyone can use it!

Purchase Black Girl Sunscreen below.

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Black Girl Sunscreen Moisturizing Sunscreen Lotion SPF 30

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Drake Gifts Fan $37K Hermès Birkin Bag, X Users React To His Latest Flex

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Drake Gifts Fan A $35K Hermès Birkin Bag, X Users React

Source: Prince Williams / Getty / Drake

Concert tickets cost a grip now, but one fan got a hell of a show and a Hermès Birkin Bag that could probably have her set for life.

During a recent Los Angeles stop during his It Was All A Blur Tour, Drake decided to make one lucky fans night by giving her a pink Hermès Birkin 30 bag, reportedly worth up to $35,000.

Drake admitted in a 2017 interview to having a vast collection of the ridiculously expensive Hermès Birkin handbags for the lucky women he will eventually settle down and have children with that he won’t have to hide, said in other TikTok videos “make sure she has security on the way out,” so she can make it out with expensive souvenir.

He also told the crowd that “Drake ain’t cheap!” obviously, repeating the chant during the show.

As expected, X users hopped on the platform formerly known as Twitter to express interest in attending a Drake show in hopes of acquiring their very own Hermès Birkin bag.

“Drake handing out Birkin Bags. I need a ticket IMMEDIATELY!!!!,” one X user wrote.

“drake gave away a birkin at his last concert???? lemme go find these tickets,” another X user wrote.

Drake has been flaunting his wealth in many ways, whether it is purchasing for $3 million, allegedly, and then melting down Pharrell’s chains, getting his hands on Tupac Shakur’s crown ring, which sold for $1 million.

Hey Drizzy, can we hold something? Just saying.

You can see more reactions to Drake, aka Thugnificent, gifting a fan a Hermès Birkin 30 bag during his concert in the gallery below.

Photo: Prince Williams / Getty

1. As you should

5. Help the woman out Drake

Conservatives’ Tendency to Buy Downloads Could Send ‘Rich Men North of Richmond’ to No. 1

Artists have long complained that streaming pays poverty wages — fractions of a cent per stream — and increases the difficulty of sustaining a recording career through a slow trickle of royalties. Some conservative-leaning artists are proving to be an exception to the rule with fans who still buy downloads at a time when streaming dominates music consumption.  

Oliver Anthony’s “Rich Men North of Richmond” became a surprise hit — and could reach No. 1 on the Hot 100 — thanks to a confluence of two factors: As we’ve seen with several other songs recently, when a song gets caught up in — or leans into — the American culture wars, conservatives often buy downloads. “Rich Men North of Richmond” was an instant success: From Aug. 10 — the day with the first sales and audio streaming activity — to Aug. 15, daily U.S. streams went from zero to nearly 700,000 in just two days, according to Luminate, while daily U.S. downloads went from zero to more than 20,000 in each of the next four days. To put that in context, in a typical week the top track on the Hot 100 might sell 15,000 downloads.

In the seven-day period ended Aug. 15, “Rich Men North of Richmond” had 11.2 million on-demand audio streams that earned him roughly $40,000, Billboard estimates. But the track amassed an impressive 117,000 track downloads that netted Anthony about $81,000 — or 65% of the royalties earned from U.S. sales and streams. And because the track is distributed by DistroKid, which charges a flat fee for distribution, and owned by Anthony, he pockets the entire amount. Although the YouTube video hosted by radiowv has 21.6 million views, Luminate shows no video streams for the recording and Billboard does not know if Anthony is earning royalties from YouTube.



Such high download sales make “Rich Men North of Richmond” an outlier in popular music. More often than not, a No. 1 track on the Hot 100 gets most of its revenue from streaming. Download sales have fallen precipitously in recent years and accounted for just 1.1% of U.S. track equivalent albums year to date, according to Luminate. On the most recent Hot 100, for the week of Aug. 19, Morgan Wallen’s chart-topping “Last Night” generated about 80% of its revenue from 20.8 million on-demand audio streams compared to just 5% from 5,000 track downloads. When Olivia Rodrigo’s “Vampire” topped the chart for a week in July, 81% of its revenue came from 31.3 million on-demand audio streams compared to 6% from 9,000 track downloads.

Some people have speculated that the song’s instant success must be the result of astroturfing — the use of fake grass-roots campaigns to gain public awareness. The themes in “Rich Men North of Richmond” — it criticizes both tax-hungry politicians and poor welfare recipients — struck a chord amongst conservatives and almost overnight became a favorite of rightwing politicians, pundits and instigators such as Rep. Marjorie Taylor Green, Matt Walsh and Kari Lake. While there’s no clear evidence of such a campaign at the moment, the track’s rise was quick even by the standards of today’s internet viral hits.

What’s clearer, though, is that “Rich Men North of Richmond” has a lot in common with K-pop tracks that soar to the top of the Hot 100 because fans buy downloads with the express purpose of getting the artist a good chart position. When Jimin’s “Like Crazy” topped the Hot 100 for a week in April, 241,000 track downloads accounted for 85% of its revenue. When his BTS bandmate Jung Kook hit No.1 with “Seven” in July, 59% of its revenue came from 138,000 downloads.

Conservative music fans act like K-pop fans when it comes to supporting a song. Track purchases helped Jason Aldean’s “Try That in a Small Town” reach No. 1 on the Hot 100. In the week of Aug. 5, when the track sat atop the chart, 175,000 downloads accounted for 56% of revenue generated from streams and sales, according to Billboard’s estimate. Two weeks ago, “American Flags,” a patriotic song by rapper Tom MacDonald, sold 18,000 track downloads in the week — second only to “Try That in a Small Town” that week. The following week, the No. 11 most downloaded song was “Go Woke Go Broke” by Jokes on Woke, a country song that attacks recent villains in conservative culture such as Bud Light, CMT, Disney, Ford, Adidas and Barbie.

It’s not necessarily just fans voting with their money, though. The shopping habits of conservative-leaning music fans can help explain why Oliver, Aldean and the others have sold so many downloads. Notably, the country music market — which tends to lean conservative — was slower to adopt streaming (however, it has recently been catching up) and sees a higher-than-average level of purchases. Country music accounted for 35% of the top 100 track downloads in the week ended Aug. 10 — and six of the top 10 — while Christian/gospel accounted for 3%. Both genres have less representation on the Hot 100, which also incorporates streaming and radio spins. Country accounted for just 21% of the tracks on the current Hot 100 chart, while Christian/gospel was absent from the chart.

Whether it’s K-pop or country, songs typically can’t count on download sales alone to provide longevity on the charts. “Try That in a Small Town” sales fell 85% in a week, dropping the track from No. 1 to No. 21 on the Hot 100 in the week dated Aug. 12. Similarly, “Like Crazy” fell from No. 1 to No. 45 the week after its peak. As the culture wars quickly move onto the next issue, the lasting endurance of “Rich Men North of Richmond” depends on how many real fans Anthony has made in this time.

Joe Budden & Gillie Da Kid Squash Beef, Tease Upcoming Podcast

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House Of BET - Day 3

Joe Budden and Gillie Da Kid have made their marks as rappers early on and are now dominating the podcast space via their respective spaces. There was a brewing beef between the two outspoken men that is now in the rearview after a new clip of the two surfaced.

Via the Million Dollaz Worth Of Game YouTube page, a video teaser of an upcoming episode featuring Joe Budden was shared with Budden, Gillie, and Wallo chopping it up outside of a home ahead of recording the episode. Whatever bad blood existed between the pair was clearly done with as evidenced by the embrace they shared and Wallo playfully joking on them both for having retired from rapping.

“This is what you look like when you’re two rappers and it’s over. We celebrating the 50th year of Hip Hop, these is two ancient dinosaurs of Hip Hop. This n*gga made $3,700 his whole rap career. Joe probably made about $77,000,” Wallo said in the video, adding he too attempted a career in rapping.

Clips of the forthcoming episode were shared throughout and it looked like the trio were in great spirits. The episode will air Sunday, August 20 at 7:30 PM ET.

The rest of the teaser showed Gillie and Wallo having a dice game showdown with Wallo losing a significant amount of cash.

Check out the clip by following this link.

Photo: Paras Griffin / Getty

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New Music From J-Hope, FIFTY FIFTY and Sabrina Carpenter, Ciara, Usher & More | Billboard News

Billboard was at Kelly Clarkson’s Las Vegas residency, the Jonas Brothers’ tour opener at Yankee stadium, Quavo’s performance in Atlanta for the Braves game and more during this week’s All Access. Jon Batiste talks about his new album ‘World Music Radio’, working with Jon Bellion, potentially becoming an EGOT and more. J-Hope drops a new album, FIFTY FIFTY brings in Sabrina Carpenter to help give a new twist to one of their biggest songs, Ciara releases her new EP ‘Cici’, Usher latest song “Boyfriend” is here. Nas talks about iconic female rappers in hip-hop and who’s on the rise next?

Tetris Kelly
We’ve got some new K-Pop, country and R&B in your Friday music guide. We sit down with NAS and Jon Batiste and we take you inside this week’s hottest live music event.

Tetris Kelly
It’s almost as they get the weekend started, I’m Tetris Kelly for Billboard News. It’s Friday, August 18. And you know what that means a fresh Friday music guide.

Tetris Kelly
J-Hope has released a physical ‘Hope Edition’ of his debut album ‘Jack in the Box’ that includes the original tracks, instrumentals and live recordings from his historic set at Lollapalooza.

Tetris Kelly
“Cupid” has had us all stuck this summer and now K-pop group FIFTY FIFTY have added Sabrina carpenter to a remix.

Tetris Kelly
Onto our cover star and Billboard Hip Hop Hall of Fame inductee, Nas.

Nas
I can’t believe I’m here. 50 calling in 50 years I’m just happy to be here to witness it as a fan to be honored it’s like no it’s no joke to me it’s like I’m like wow is this real? I remember they were acts like Latifah, Shanté and MC Light what does it feel like to be in a male dominated rap game and how come female rappers are not happening? Just you just you guys, they held it down strong. It took years but it’s just that time they’re not going to be held back it’s their strength, it’s their power, it’s their talent, it’s their beauty. It’s everything wrapped in one that’s just supposed to dominate right now.

Nas
Coming up there’s Latto, Ice Spice, Coco Jones then there’s a few others you know that I like? Yeah.

Watch the full video above!

Quavo Drops 2nd Solo LP ‘Rocket Power’ & Fans On X Approve

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Rocket Power Album Pop Up Shop Hosted By Quavo

Quavo hasn’t released a solo album since his debut album, Quavo Huncho, back in 2018. On Friday (August 18), the Migos member released his sophomore effort Rocket Power, which honors the late Takeoff.

The opening track on Rocket Power, “Fueled Up,” sets the tone for much of the album as the track references the now-ended beef between Quavo and Offset, and Takeoff’s name is mentioned near the end. This continues at several points throughout Rocket Power, with production coming from Kenny Beats, Murda Beatz, Bnyx, Atake, DJ Durel, Buddah Bless, Baby Wave, and more.

Quavo handles much of the rapping duties on his own with features from Takeoff, Future, Young Thug, BabyDrill, and Hnxcho on the assist. On X, it appears that the production is propelling the interest of most fans online but they’re also praising Huncho for delivering an album that does capture some of the grief he’s surely still processing in connection to the passing of Takeoff.

Rocket Power was originally set to come out on August 4, calling the project therapeutic and sharing that he attempts to capture the emotional weight he’s carried since losing his younger nephew. If the reaction on X, formerly known as Twitter, is of any merit, it looks like Quavo achieved his goal and then some.

Check out the reactions below.

Photo: Prince Williams / Getty

‘Harlan Coben’s Shelter’: How to Watch Amazon’s New Mystery Series for Free

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Need a new series to be hooked on? Prime Video just dropped a fresh show that’ll leave you guessing with each episode. Harlan Coben’s Shelter is based on the novel of the same name and is full of mystery and suspense that won’t just captivate fans of the novel.

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The show first aired on Thursday (Aug. 18) and currently has the first three episodes available to watch. Viewers can expect to follow Mickey Bolitar (Jaden Michael) who, after the traumatic death of his father, moves to a the town of Kasselton in New Jersey. With his mother in rehab, he’s left in the care of his aunt and navigates his new life and school. When a creepy old woman appears and tells him his father is alive and a girl is kidnapped all within the same timeframe, Mickey begins to think he’s going crazy and, with the help of a couple new friends, tries to unravel the mystery surrounding his father’s death and it’s possible connection to the girl’s disappearance.

In true Coben fashion, the show brings just as much thrill, suspense and cliffhangers that’ll help take you through the rest of the summer — and potentially have you begging for more.

Other cast members in the show include Adrian Greensmith, Sage Linder, Abigale Corrigan, Constance Zimmer, Tovah Feldshuh, Hunter Emery, Didi Conn, Brian Altemus, Lee Aaron Rosen, Samantha Bugliaro and Manuel Uriza.

Keep reading to learn what streaming options you have to watch the mystery for free.

When & How to Watch Harlan Coben’s Shelter

The mystery series is a Prime Original show with new episodes airing every Thursday for a total of eight episodes. Since it’s a Prime Original, that means it’s exclusive to the streamer and those who have a Prime membership or subscription to Prime Video can watch it for no additional cost.

Not subscribed? If you join Amazon Prime you can enjoy 30 days free before being charged the membership fee of $14.99/month (or $139 for the annual plan) when the trial ends. Qualifying students and EBT/Medicaid recipients can join for half off the regular price.

‘Harlan Coben’s Shelter’ on Prime Video

$14.99/month after 30 days free

Prime members get access to thousands of movies and must-watch shows – along with Prime Originals such as CitadelDaisy Jones & The SixThe Marvelous Mrs. MaiselSwarmThe Power, Harlem,  InvincibleThe BoysTom Clancy’s Jack RyanFleabagThe Summer I Turned PrettyThe Wheel of TimeThe Lord of the Rings: The Rings of Power, Medellin, The Horror of Dolores Roach, Red, White & Royal Blue and more.

What else can you get with a Prime membership? Member-only discounts, free shipping on millions of items, grocery delivery, free Amazon Music and tons more.  

Check below to watch the trailer for Harlan Coben’s Shelter.



Babyface Back in Hot 100 Top 10 Thanks to SZA’s ‘Snooze’

Legendary singer-songwriter and producer Babyface scores his first top 10 hit on the Billboard Hot 100 as a producer in 23 years, thanks to his work on SZA’s “Snooze.”

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The song, released in December on SZA’s 10-week Billboard 200 No. 1 album SOS, jumps 15-10 on the Hot 100 (dated Aug. 19). Babyface, who co-produced the track with BLK (real name: Blair Ferguson) and The Rascals (the production duo comprising Khristopher Riddick-Tynes and Leon Thomas III), last appeared in the top 10 as a producer in December 2000, with P!nk’s “Most Girls.” The song climbed to No. 4 the prior month, becoming P!nk’s first career top five hit (of an eventual eight to date).

Babyface is also one of five credited co-writers on “Snooze” (however SZA solely wrote the lyrics).



While “Snooze” marks Babyface’s return to the Hot 100’s top 10 as a producer, he’s tallied three additional top 10s on the Hot 100 this century as a writer, thanks to samples and interpolations of his older hits. (When a song is sampled on another track, credited writers of the original typically receive writing credits on the new song.)

Babyface is credited as a co-writer of Mariah Carey’s 2005 14-week No. 1 “We Belong Together,” thanks to its interpolation of “Two Occasions” by The Deele, in which he was a member; the latter song hit No. 10 on the Hot 100 in 1988. He even gets a shoutout in the lyrics of Carey’s lost-love song: “I gotta change the station / So I turn the dial, tryin’ to catch a break / And then I hear Babyface, ‘I only think of you’ / And it’s breaking my heart.”

In 2020, Babyface notched another top 10 as a writer, via Lil Mosey’s “Blueberry Faygo” (No. 8 peak). The track samples Johnny Gill’s 1990 No. 10 hit “My, My, My,” which he co-wrote with Daryl Simmons. In 2021, Babyface tallied another top 10, thanks to a writing credit on Drake’s “Fair Trade,” featuring Travis Scott (No. 3). The collab samples Charlotte Day Wilson’s 2019 song “Mountains.”

Of Babyface’s top 10 Hot 100 hits in any role (producer, writer or recording artist), seven have hit No. 1. They’ve combined to spend just shy of a year at the summit: 51 weeks.

Here’s a recap:

Artist Billing, Title (Peak Year; Role)
Whitney Houston, “I’m Your Baby Tonight” (1990, one week at No. 1; producer, songwriter)
Boyz II Men, “End of the Road” (1992, 13 weeks; producer, songwriter)
Boyz II Men, “I’ll Make Love to You” (1994, 14 weeks; producer, songwriter)
Madonna, “Take a Bow” (1995, seven weeks; producer, songwriter)
Whitney Houston, “Exhale (Shoop Shoop)” (1995, one week; producer, songwriter)
Toni Braxton, “You’re Makin’ Me High”/”Let It Flow” (1996, one week; producer, songwriter)
Mariah Carey, “We Belong Together” (2005, 14 weeks; songwriter)

Babyface praised SZA in an interview on Billboard’s Pop Shop Podcast in January. ““I think SZA is amazing,” he said. “She’s so unique and I’m amazed by her talent, to be honest, and very happy for her success. I think it’s very well-deserved.”

Of his own versatility, and longevity, he said, “I think as a musician, I’ve always tried to not be one particular thing and be able to cross different genres. I always kind of look at it [as], if you’re a full musician, then you should be able to do more than one thing. And what allows you to do that is to not have an ego, to the point to where you think what you do is the best thing and always the best. So, it’s always great to collaborate and get into a room and learn.”