djfrosty

02 Dec 2022

TikTok a National Security Threat Vulnerable to Chinese Government ‘Manipulation,’ FBI Director Warns

FBI Director Chris Wray is raising national security concerns about TikTok, warning Friday that control of the popular video sharing app is in the hands of a Chinese government “that doesn’t share our values.”

Wray said the FBI was concerned that the Chinese had the ability to control the app’s recommendation algorithm, “which allows them to manipulate content, and if they want to, to use it for influence operations.” He also asserted that China could use the app to collect data on its users that could be used for traditional espionage operations.

“All of these things are in the hands of a government that doesn’t share our values, and that has a mission that’s very much at odds with what’s in the best interests of the United States. That should concern us,” Wray told an audience at the University of Michigan’s Gerald R. Ford School of Public Policy.

Those concerns are similar to ones he raised during congressional appearances last month when the issue came up. And they’re being voiced during ongoing dialogue in Washington about the app.

Concerned about China’s influence over TikTok, the Trump administration in 2020 threatened to ban the app within the U.S. and pressured ByteDance to sell TikTok to a U.S. company. U.S. officials and the company are now in talks over a possible agreement that would resolve American security concerns, a process that Wray said was taking place across U.S. government agencies.

“As Director Wray has previously said, the FBI’s input is being considered as part of our ongoing negotiations with the U.S. Government,” TikTok spokesperson Brooke Oberwetter said in an emailed statement. “While we can’t comment on the specifics of those confidential discussions, we are confident that we are on a path to fully satisfy all reasonable U.S. national security concerns and have already made significant strides toward implementing those solutions.”

TikTok is owned by Beijing-based ByteDance. The TikTok statement Friday noted that ByteDance is a private company and that “TikTok Inc., which offers the TikTok service in the United States, is a U.S. company bound by U.S. laws.”

At a Senate hearing in September, TikTok Chief Operating Officer Vanessa Pappas responded to questions from members of both parties by saying that the company protects all data from American users and that Chinese government officials have no access to it.

“We will never share data, period,” Pappas said.

02 Dec 2022

Charlie Puth Confirms New Relationship as He Rings in 31st Birthday: ‘Happy Birthday to Me’

Charlie Puth celebrated his 31st birthday on Friday (Dec. 2) by going public with his new relationship on social media.

The pop star shared a photo of himself adorably cuddled up with his girlfriend in a series of black-and-white photo-booth snaps. “Ohhhhh I’m NOT a loser…’cause I didn’t lose her!!! (Happy birthday to me.)” he captioned the post, referencing the lyrics to the fan-favorite song “Loser” from his latest album Charlie.

While Puth didn’t tag the woman in the photo, Instagram sleuths determined the singer’s lady love was Brooke Sansone. The stylish brunette, who runs the Instagram account @theeclosetnextdoor, shared the same photo in her Instagram Stories with the caption, “birthday boy @charlieputh” using a white-heart emoji.

Just before Thanksgiving, the “Left and Right” crooner performed a tribute to Lionel Richie with Stevie Wonder at the 2022 American Music Awards, complete with a superstar rendition of “We Are the World” featuring Ari Lennox, Melissa Etheridge, Yola, Muni Long, Smokey Robinson, Jimmie Allen and more.

On the red carpet for the awards show, Puth opened up exclusively to Billboard about finding success on TikTok, saying, “The yearn to collaborate” was what drew him to the social media platform in the first place.

“I remember being a 16-year-old kid on YouTube and just hoping and praying that I could one day collaborate with someone online and make music with them,” he added. “and the fact that, well everybody, kids of all ages are coming up to me, asking me to collaborate with them through the means of online communication, that’s pretty special and very full-circle.”

Check out Charlie’s birthday post with his girlfriend below.

02 Dec 2022

The Ledger: Music Stocks Are Rebounding at the End of a Rough Year

The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online.

After a miserable year for music stocks — and stocks in general — 2022 could end on a string of positive notes.  

As rising interest rates have hammered stocks and erased big gains made during the pandemic, the Billboard Global Music Index, a float-adjusted group of 20 publicly traded music companies, is down 36.1% in 2022, and shares of vital companies such as Spotify and Warner Music Group are down 65.7% and 20.5%, respectively.

But in recent weeks, the momentum has reversed dramatically. The Billboard Global Music Index is up 12.6% over the last two weeks and 14.6% in the five weeks since Oct. 28. 

Since Oct. 28, the week when music companies began to release third-quarter financial results, the stocks of major labels rose an average of 23.1%. Indie music companies — Reservoir Media, Believe, Hipgnosis Songs Fund and Round Hill Music Royal Fund — rose an average of 8.2% over that time period. K-pop companies from South Korea averaged a 16.1% improvement.  

Part of music stocks’ rebound can be attributed to overall market sentiment. Stocks have improved in recent weeks — the New York Stock Exchange composite index is up 6.6% in the last five weeks and the S&P 500 is up 4.4% over that time. This week, stocks surged on Wednesday (Nov. 30) after Federal Reserve chairman Jerome Powell said upcoming interest rate hikes will be smaller following “promising developments” in the Fed’s efforts to slow inflation. Stocks gave back some of those gains on Friday, however, after a solid U.S. jobs report showed a combination of strong hourly earnings and lower labor force participation. Higher wages erode corporations’ profits and persistent inflation could mean more rate hikes by the Federal Reserve.  

But music companies have outperformed the broader stock markets thanks to solid third-quarter earnings results that met and occasionally exceeded expectations. In addition, many companies increased their fourth-quarter guidance when they announced third-quarter results. That tends to increase share prices as investors adjust upward their expectations for future performance.  

Among the best performers of late has been Warner Music Group, whose shares improved 31.1% in the last five weeks. Last week, Warner beat analysts’ expectations for both revenue and earnings per share in the fiscal fourth quarter ended Sept. 30 and announced on Nov. 22. It posted revenue of $1.5 billion, up 16% year-over-year at constant currency (+9% as reported). Adjusted earnings before interest, taxes, amortization and depreciation grew by 16% to $276 million.  

Shares of Universal Music Group have risen 16.1% since Oct. 28. The day prior, UMG’s third-quarter earnings showed a 13.3% jump in revenue at constant currency. Sony Corp., the parent company of Sony Music Group, climbed 23.7% over the same period. Sony Music’s quarterly earnings, released on Nov. 1, showed 5.9% year-over-year revenue growth. Sony’s music division accounts for just 11.4% of the company’s consolidated revenue and 16.7% of its operating income while UMG and WMG are pure-play music companies.  

Smaller labels and publishing companies have improved, too. Reservoir Media shares have climbed 14.9% over the five weeks, while shares of Believe rose 19.1% over five weeks but stumbled 7.8% in the last two weeks. Both companies raised guidance for their fourth quarter results. Korean music companies have also fared well: the shares of four K-pop-focused companies — HYBE, SM Entertainment, YG Entertainment and JYP Entertainment — rose an average of 16.1% in the last five weeks. 

Labels’ and publishers’ financial results were augmented by positive news that suggests even stronger streaming revenue in 2023. According to WMG CEO Stephen Cooper during the company’s Nov. 22 earnings call, announcements of price increases by Apple Music [on Oct. 24] and Deezer “in the current economic environment shows that music subscription services offer amazing value to consumers. Music remains undervalued, but we’re optimistic that there will be other increases to come.”

Cooper was also encouraged by subscriber growth reported by streaming companies. Spotify exceeded expectations in the third quarter by adding seven million subscribers — 1 million more than its guidance. YouTube announced on Nov. 11 it had reached 80 million subscribers of YouTube Music and Premium just 14 months after surpassing the 50-million mark. “Developed markets continue to grow in the double digits while emerging markets are growing at higher percentages,” said Cooper. “With global smartphone penetration expected to increase meaningfully in the coming years, our conviction in streaming growth remains strong.” 

While labels and publishers have surged, streaming companies have been mixed. On average, streaming companies’ stocks rose 24.4% over the last five weeks. The biggest gains came from much smaller Tencent Music Group and Cloud Music, up 101.6% and 28.4%, respectively — but both have relatively small floats and remain majority owned by Tencent and NetEase, respectively. Even smaller yet are Anghami (-3.1%) and Deezer (-1.5%). Spotify, one of the largest companies in the index, declined 3.7%. 

Companies in the live and ticketing space haven’t fared as well as others, however. Live Nation shares are down 7.7% in the last five weeks, due mainly to a 7.5% drop following its third-quarter earnings release and a 10.3% decline on Nov. 18 following reports that the company was being investigated by the Department of Justice after its controversial presale for Taylor Swift’s upcoming tour. The latter was a short-lived dip, however, and Live Nation shares have reclaimed that lost ground and more by rising 11.6% in the last two weeks. Over five weeks, MSG Entertainment shares rose just 2% and Vivid Seats shares are off 1.2%. On the other hand, shares of German concert promoter CTS Eventim rose 27.7% over five weeks after posting strong third-quarter results and sounding more confident about full-year results than comments it made in its second-quarter earnings release.  

Four radio companies — iHeartMedia, Cumulus Media, Audacy and Townsquare Media — have fared the worst, falling an average of 6.8% since Oct. 28. IHeartMedia, the largest radio company and a member of the Billboard Global Stock Index, fell 9% over that time. 

02 Dec 2022

Rita Wilson Enlists Sebastian Yatra for ‘A Man Called Otto’ Song ‘Til You’re Home’: Listen

Actress and singer/songwriter Rita Wilson and Grammy-nominated Latin pop star Sebastián Yatra have teamed up to record the new track “Til You’re Home” for the upcoming film A Man Called Otto starring Wilson’s husband Tom Hanks.

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“I am extremely honored by Rita Wilson’s invitation to join her on ‘Til You’re Home’ for the A Man Called Otto soundtrack,” Yatra said in a statement. “The story behind the film is heartwarming and moving and I was inspired to convey that emotion in this song. Overall, this project has been very inspiring and I’m proud to be a part of it.”

“Til You’re Home” was co-written by Wilson and Grammy-nominated songwriter/producer David Hodges. Its co-producers include Wilson and Grammy winner Matt Rollings. The song, with its warm, inviting vocals over a piano, is already receiving recognition, as it was nominated for best song in a film (independent) at the 2022 Hollywood in Music Media Awards.

The collaboration is a first for Wilson and Yatra, which was sparked after the director of A Man Called Otto, Marc Forster, asked Wilson to write a song for the film.

“I was very humbled and grateful for the opportunity, but also made him promise to be honest with me if he didn’t want to use the song. As the producer of the film, my first allegiance is to the film and to the director’s vision,” Wilson said. “David Hodges and I had written together before and have always been like-minded musically and lyrically. A lot of the inspiration began with David Magee’s script. This is a movie about love, the depths of love and how love continues even after a person leaves this earth,” she continued.

“There are two LatinX characters in the film – I wanted to find a way to bring them into the song,” Wilson added. “I envisioned it as a duet… I have loved Sebastián Yatra’s voice since hearing him in Encanto, and he felt like the perfect person to do it. We were incredibly lucky he said ‘yes’ and all the planets aligned.”

A Man Called Otto — which hits theaters on Christmas Day — tells the story of Otto Anderson (Hanks), someone who no longer sees purpose in life after losing his wife. He plans to end it all, but his plan is derailed when a young family moves next door and he meets his match in the character Marisol, who challenges Anderson to see life through a different lens, leading to a friendship that changes his life for the better.

The A Man Called Otto soundtrack album, featuring composer Thomas Newman’s score and “Til You’re Home,” will be released Dec. 30 via Decca Records.

Watch the “Til You’re Home” video below.

02 Dec 2022

A Music Agent Figured Out How To Get COVID Funds For Artists. Now He Says a Rival Stole His Idea. 

A talent manager who allegedly helped artists like Vampire Weekend and Marshmello gain access to $200 million in COVID-19 relief funds is the target of a new lawsuit that claims he stole the idea to tap those government funds — aimed primarily at helping venues, not artists — from somebody else.

In a complaint filed Wednesday (Nov. 30) in Los Angeles court, longtime music agent Laurence Leader says he was the first to realize that artists might also be able to access Shuttered Venue Operators Grants, a COVID-era federal program that gave out more than $14 billion to help live venues shuttered by the pandemic.

But Leader claims his “novel idea” was quickly stolen by talent manager Michael Oppenheim, who then allegedly used the same scheme to secure more than $200 million in SVOG funds for his own clients at the talent firm NKSFB, including Vampire Weekend, Marshmello, Common, Lil Wayne and many others.

In a complaint seeking more than $30 million in damages, Leader called Oppenheim’s conduct “despicable” and an “outright betrayal” of his trust.

“This lawsuit is brought due to the blatant and brazen theft by defendants of [Leader]’s novel idea for popular mainstream artist and band clients to obtain a grant under a specific government program,” wrote attorneys for Leader’s company, London Calling Entertainment.

Oppenheim did not immediately return a request for comment. Leader’s lawsuit, filed by veteran music litigator Richard Busch, was first reported by the news outlet Puck.

Launched by the U.S. Small Business Administration in April 2021, Shuttered Venue Operators Grants were designed to do exactly what they sound like — provide financial aid to live venues and others companies closely related to them, like vendors that provide services for live events. According to the last report issued by the SBA in July, more than $14 billion was handed out to more than 20,000 businesses.

Though the SVOG funds were a lifeline during COVID for many venues, some have argued they were left out. Dozens of venues have filed lawsuits against SBA over the past two years, claiming they were unfairly denied millions in aid.

In his lawsuit, Leader claims he was the first to discover that touring artists might also qualify for the program. Even though he says others doubted him, he believed that one definition of SVOG eligibility — “performing arts organization operators” — sounded “precisely” like the so-called loan-out companies that artists use to handle their touring businesses.

When Leader used that approach and tried applying for an unnamed jazz musician in June 2021, it was an immediate success: He says his client was quickly awarded nearly $10 million in SVOG money.

Leader says he soon shared his grant idea with Oppenheim, whom he says he’s known professionally for more than 40 years. But Leader claims he shared the SVOG concept “confidentially,” with the clear understanding that he could only be used if Leader was paid a 15 percent commission on grants secured.

Oppenheim initially believe the plan would not work and voiced “skepticism,” Leader’s lawyers say, and eventually went “radio silent” on the entire thing. But Leader claims he later discovered that the talent manager and his firm NKSFB had in fact boldly embraced the idea — allegedly filing successful SVOG applications for more than 70 of their client artists.

“As a direct and proximate result of defendant’s misuse of plaintiff London Calling’s idea … defendants obtained SVOG program grants totaling well in excess of $200 million,” Leader’s lawyers wrote.

Leader doesn’t claim that his idea is a piece of intellectual property, like a patent, copyright or trade secret, since it almost certainly wouldn’t qualify for any such formal protection. As the case is litigated, Oppenheim’s attorneys might argue back that no single person should be able to claim proprietary rights to the process of merely applying for a public government aid program.

But Leader says he and Oppenheim forged an “implied contract” that his valuable idea — helping artists access an otherwise off-limits program — would remain confidential unless Leader was compensated. By using the same scheme for his own ends without payment, Leader says Oppenheim breached that contract.

In monetary terms, he’s seeking $30 million in damages — or a 15 percent cut of the $200 million that Oppenheim allegedly secured in grants. Leader also wants an unspecified amount of “punitive” damages on the grounds that the breach of contract was “willful and malicious.”

Read Leader’s entire lawsuit here:

02 Dec 2022

Ryan Castro, MAR & More: What’s Your Favorite New Latin Music Release? Vote!

Of all the Latin music released this week, which is your favorite? Let’s take a look at the options…

Before the year comes to an end, Ryan Castro is gifting fans with new music. The Colombian up-and-comer has unleashed Los Piratas, his second EP of the year (following Reggeatonea). The nine-track set sticks to Castro’s signature urbano beats with back-to-back reggaeton bops. (Tip: listen to “El Pan de Estefania,” a merenguito for a little pick-me-up.)

Other releases include Pedro Capó‘s highly anticipated album La Neta. The 10-track set finds him navigating emotions of honesty and vulnerability with the magic of its lyrics loaded with everyday emotions. He started working on it in 2019, which led him to create a studio at home due to the pandemic. On this new album, Capó kicks off the album with “Hoy Me Siento Cabrón” where his powerful vocals rap over an urban rhythm. The song also thrives thanks to killer transitions between alternative rock and hard-hitting perreo beats, which are laced with his sensual, raspy vocal.

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Another Puerto Rican act dropping gems this week is Tommy Torres. The singer-songwriter experiments with bachata, dropping “Mi Secreto.” While the sound may be different, the track is a quintessential Torres song, with mature and poetic lyrics that narrate a love story. “Love me here and now, don’t ask about the past,” he croons.

Other new releases this week include MAR’s new take on her father Marco Antonio Solís‘ anthem “Más Que Tu Amigo,” Junior H’s Contingente album and Arcangel’s new set Sr. Santos. Which release is your favorite? Cast your vote — or enter in your favorite selection — in the poll below.

02 Dec 2022

Jack White Asks Elon Musk How ‘That Free Speech Thing‘ Is Working Out After Kanye West Twitter Suspension

Jack White used social media to confront Elon Musk on Friday (Dec. 2) over Kanye West‘s latest pro-Nazi tweet and the billionaire’s seemingly selective views on free speech.

“So Elon, how’s that ‘free speech’ thing working out?” the rocker wrote on Instagram in a scathing open letter to the controversial new owner of Twitter. “Oh, I see, so you have to CHOOSE who gets free speech and who doesn’t then? What kind of crybaby liberal suspends someone’s free speech?
Hmm….”

While Ye’s account has once again been suspended, Musk has been a supporter of allowing the rapper to spread his opinions — including antisemitic views — on the platform under the guise of freedom of speech ever since he took over in October.

White further compared West’s reinstatement on Twitter to Musk’s refusal to allow Alex Jones back on the platform, writing, “Conspiracy liar alex jones doesn’t get ‘free speech’ either? I see. So you’re learning that these folks incite violence and hatred but trump…DOESN’T? Hmmm. Or is it that liar jones, and anti-Semite egomaniac kanye can’t provide tax breaks for billionaires the way the former president could? Or that maybe the controller of this ‘free speech’ is insulted personally? Or that just maybe, there needs to be, oh I don’t know, RULES and REGULATIONS or else you breed chaos?

“It’s nice to watch in real time as you learn that all things need to be regulated, whether that be guns, drugs, alcohol, assembly, or speech because of the danger of someone or something being hurt or destroyed,” he continued. “They’re sometimes called ‘laws.’ And perhaps you’re learning how harmful it can be when you let dangerous, hateful people say whatever they want on your stage.”

The White Stripes alum went on to explain his decision to turn the comments off on his post, saying, “This isn’t a debate forum. This is me talking on my front porch, not debating in town square. I regulate the platforms i control too.”

He then ended the post by urging Musk to “do the right thing…and don’t provide other hate mongers a stage, let them go talk in town square,” before reminding readers, “(And no, twitter isn’t town square owned by the govt., it’s a private company owned by Elon Musk.)”

For his part, White was one of numerous musicians and celebs to leave Twitter in the wake of Musk’s $44 billion takeover, particularly following the businessman’s decision to let former President Donald Trump back onto the social-networking site via a public poll.

Read White’s full statement to Musk below.

02 Dec 2022

Drake’s Apollo Concerts Pushed Back to 2023

After previously postponing his performance at New York City’s Apollo Theatre to mourn the death of Takeoff last month, Drake’s concerts have been pushed back again to January 2023, according to SiriusXM.

Originally slated for next Wednesday and Thursday night (Dec. 6-7), Drake’s forthcoming shows will now arrive Jan. 21 and Jan. 22, Billboard has confirmed.

According to a statement credited to Drake, SiriusXM and Sound 42, production issues derailed Drake’s NYC shows. “We as a team have been working around the clock not just putting together a concert but an experience our fans deserve,” the statement reads. “With that said, we are up against some production delays that are just out of our control.” The statement also said that “these upcoming shows for SiriusXM are so incredibly special for us. If you are going to play the world-famous Apollo Theater, it has to be a world-class production.”

The news comes on the heels of Drake being crowned Billboard‘s Top Dance/Electronic Artist of 2022 on the strength of his chart-topping effort Honestly, Nevermind. The dance-laden album spawned eight Billboard Hot 100 entries, including “Massive,” “Texts Go Green” and his first Hot Dance/Electronic Songs No. 1 “Falling Back.” The album also handed him another Hot 100 No. 1 in “Jimmy Cooks,” alongside his new rap tag-partner 21 Savage.

The record ushered in the twosome’s unexpected collaborative album Her Loss, which debuted atop the Billboard 200 last month.

02 Dec 2022

This Studio Is Removing Kanye West Tattoos for Free

Have some Kanye West ink you’ve been regretting in recent months? Fear not, because a tattoo-removal studio in England is helping you out by removing any Ye-inspired body art for free.

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Naama Studios made the announcement last month, amid Ye’s slew of antisemitic remarks. “Yeezy come, yeezy go,” the London-based company cleverly captioned a photo that reads, “We’ll remove your Kanye tattoos for free.”

The studio followed up with another video actually removing a tattoo of West, captioning the clip, “When you have a tattoo inspired by someone you admire and they end up making headlines for all the wrong reasons… at NAAMA we offer an empowering, empathetic, high-tech tattoo clearing experience. If you want a change, we’re here to help.”

Ye’s latest controversy surrounded an appearance on alt-right conspiracy theorist Alex Jones’ InfoWars talk show on Thursday (Dec. 1), where the rapper praised Adolf Hitler and Nazis. “Every human being has something of value that they brought to the table, especially Hitler,” he said. “How about that one?”

The Yeezy designer doubled down on his thoughts later, when Jones noted that he didn’t like Nazis. When the camera started panning away to a commercial break, Ye is heard saying into the microphone, “I like Hitler.”

Jones then told Ye that he has a “bit of a Hitler fetish going on,” to which the rapper replied, “It’s not a fetish. I just like information.”

“I don’t like the word ‘evil’ next to Nazis,” Ye later said, undeterred by Jones’ discomfort. “I love Jewish people, but I also love Nazis.” Later in the interview, Ye reiterated that it’s “time to promote love” by declaring, “I do love Hitler. I do love the Zionists.”