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Len Goodman Exiting ‘Dancing With the Stars’

Dancing With the Stars judge Len Goodman is saying goodbye to the ballroom competition series.

During Monday’s broadcast, Goodman announced that this season would mark his final as a judge.

“This will be my last season judging on Dancing with the Stars. I’ve been with the show since it started in 2005 and it has been a huge pleasure to be a part of such a wonderful show. But I’ve decided, I’d like to spend more time with my grandchildren and family back in Britain,” Goodman said. “I could not thank you enough the Dancing with the Stars family. It’s been such a wonderful experience for me.”

After Goodman’s announcement, the judge received a standing ovation.

“You’ve inspired generations of dancers around the entire globe through your passion and through your expertise and through your laser-focused eye and they are going to carry on that commitment of excellence forever. Thank you so much. A living legend,” host Tyra Banks said.

Goodman has been the lead celebrity judge on ABC’s ballroom competition since the show made its debut on ABC in 2005. He has been judging alongside fellow DWTS mainstays Carrie Ann Inaba and Bruno Tonioli. Dancing with the Stars pro Derek Hough later joined as a judge.

Prior to DWTS, Goodman was previously been a head judge on Strictly Come Dancing, the original U.K. version of Dancing with the Stars. He has also served as a judge at the World and British Championships.

Goodman has been recognized for his dancing achievements, winning multiple awards including the British Exhibition and the runner-up in the Exhibition World Championships. Other awards have included the British Rising Star Award, the Carl Allen Award and a Lifetime Achievement Award.

Goodman also runs the Goodman Dance Academy, a long-running dance school in Kent, England.

This article first appeared in The Hollywood Reporter.

Five Burning Questions: Drake and 21 Savage Debut at No. 1 on Billboard 200 With ‘Her Loss’

Drake and 21 Savage are both eminently familiar with the top of the Billboard 200 albums chart, with the former artist previously having topped the listing 11 times, and the latter artist twice. So it’s no surprise the two would return to the 200’s pole position (on the chart dated Nov. 19) with the release of their first joint album, Her Loss.

The set’s performance is an impressive one, as it moves 404,000 equivalent album units in its first week — the third-highest total for any album in 2022, and significantly higher than both of the most recent solo efforts from Drake (this June’s Honestly, Nevermind) and 21 Savage (2018’s I Am > I Was). In addition, songs from Her Loss occupy the No. 2 through No. 9 spots on the Billboard Hot 100 this week, the third-most simultaneous real estate in the chart’s top 10 ever occupied by one album, behind Drake’s own Certified Lover Boy in 2021 and Taylor Swift‘s Midnights earlier this month — with the latter set’s lead single, the No. 1-debuting “Anti-Hero,” still holding onto the top spot two weeks later.

What does the set owe its early success to? And are Drake and 21 smarting this week at being denied the Hot 100’s top spot? Billboard staffers discuss these questions and more below.

1. Even with the requisite warnings about hip-hop team-up albums often being less than the sum of their parts, Her Loss posts one of 2022’s best first-week numbers this year with its 404,000 equivalent album units moved — nearly double the number of Drake’s prior 2022 set, Honestly, Nevermind, and easily Savage’s best such number to date. What would you consider the biggest factor behind the album’s robust debut?  

Rania Aniftos: To be honest – and I don’t mean this as shade – I was surprised the album did so well. For a while, it felt as though Drake wasn’t living up to the quality of some of his past albums like ViewsIf You’re Reading This It’s Too Late and even Scorpion. And 21 Savage has always been a successful collaborator, but I never thought that his involvement would push such impressive numbers. I’m personally floored, but I might chalk it up to fans wanting to see that old-school Drake they know and love, and really wanted to give Her Loss a try – and, turns out, they loved it.

Carl Lamarre: If you look at their past collaborations with “Sneakin,” “Knife Talk,” and “Jimmy Cooks,” Drake and 21 has had an exceptional track record as a dynamic duo. Their chemistry as a twosome had fans salivating for a more aggressive Drake as they came in droves to see whether Drizzy and 21 could topple the competition. Curiosity sparked the intrigue, especially after Drake and Future’s tight hold in 2015-2016 with What a Time to Be Alive

Elias Leight: Drake’s Care Package (2019) and Dark Lane Demo Tapes (2020) releases, both of which included old loosies and leaks, didn’t have explosive first weeks. And listeners don’t appear to care over-much for Drake’s experimentation — his dancefloor excursion from earlier this year didn’t put up jaw-dropping numbers, at least by his lofty standards. In recent years, when there’s new Drake that sounds like old Drake, that seems to yield his best commercial results: See Certified Lover Boy (613,000 album equivalent units) and now Her Loss

Jason Lipshutz: A combination of timing and quality. After Honestly, Nevermind was greeted with a less-than-stellar reception from longtime Drake fans — except for “Jimmy Cooks,” the album’s late change-up featuring 21 Savage — the decision to quickly return with a full album of 21 Savage team-ups and effectively build upon the “Jimmy Cooks” momentum represented a commercial masterstroke. And then, happily, the album was one of Drake’s hungriest, most focused and overall best projects in the past five years, causing Her Loss to stream incredibly well throughout its first chart week and score a big No. 1 debut.

Andrew Unterberger: Yeah, it’s the right album at the right time. Drake and 21 Savage have always been a winning combination, we hadn’t heard much from Savage in the last couple years, and a rare Drake left turn was always going to come with a not-long-after course correction, especially after the prior album’s reception was much chillier than the consistently successful superstar was accustomed to. They brought the energy, they brought the bars, and they brought the (mostly unfortunate) talking points — streams in massive numbers were bound to follow.

2. Though obviously a major commercial success for both, which of the two rappers would you say benefits more from the mighty Her Loss bow?  

Rania Aniftos: Drake! Having two albums dominate the Hot 100 top 10 in the past few years is a major accomplishment and solidifies that he’s not going anywhere, despite some ridicule and memes on TikTok.

Carl Lamarre: Easily 21 Savage. I love the guy, but lately, he’s had too much dip on his chip. First, he thinks he can pummel Kodak Black in a Verzuz battle, and then, he slings darts in the direction of Nas by calling him irrelevant. All of this happened in a week, and why? Because having Drake as his armor and mouthpiece gave him Thanos-level confidence. 

Elias Leight: On the one hand, Drake’s first-week numbers have been up and down in recent years across a variety of different types of releases — 109,000 album equivalent units for Care Package, 223,000 for Dark Lane Demo Tapes, 613,000 for Certified Lover Boy (2021), 204,000 for Honestly, Nevermind in June — so 404,000 helps to stay the course. On the other hand, 404,000 album-equivalents is more than twice 21 Savage’s previous first-week high-water-mark, and through his Drake affiliation, he’s probably reaching more casual hip-hop fans who aren’t as familiar with his past work. 21 Savage has gained more than 10 million monthly listeners on Spotify since the release of Her Loss, according to Chartmetric, while Drake has gained around 7 million. 

Jason Lipshutz: Drake. Honestly, Nevermind was a detour away from hip-hop for the biggest hip-hop artist in the world, and it didn’t connect with fans (outside of the one song that sounded nothing like the rest of it, of course). I doubt anyone paying attention believed that Drake had fallen off due to one underwhelming project, but Her Loss stamps out those concerns quickly and efficiently, and continues one of the most remarkable commercial runs in the history of popular music. 21 Savage sounds great on Her Loss and undoubtedly gained some new fans, but Drake gets a more crucial W with the album.

Andrew Unterberger: Drake. It’s a win for both, but this won’t change a ton for 21 Savage, who would prob be pushed for best supporting actor and not best actor were this set Oscar-eligible. For Drake, it ends his 2022 on a (commercial) high note and once again proves that he on the rare occasions he does take something vaguely resembling an L — and worth remembering that said “L” still came with simultaneous No. 1s on the Billboard 200 and Hot 100 — he’s never stayed down for long.

3. Just a year and a half ago, occupying eight of the top 10 spots simultaneously on the Hot 100 would be an absurdly historic achievement – now, it’s not the biggest Hot 100 bombing either of Drake’s career or of pop music this year (or even this month). Does Her Loss grabbing this week’s 2-9 spots on the chart still feel like major headline news to you, or is it just par for the course for Drake and stars of his level at this point?  

Rania Aniftos: It still feels like major headline news to me, only because it’s still so rare and Drake has done it not once, but twice. I never want to get desensitized to such accomplishments, because it really is cool that so many fans flooded in to listen to a new album because they love the artist so much.

Carl Lamarre: It’s still an incredible feat, and even more for Drake, knowing he could do it twice. After Bad Bunny’s fireball Un Verano Sin Ti blasted the Billboard 200, I wonder if he can muster up a similar run a la Drizzy because of his new-found superstardom. Going forward, more artists will probably eschew the idea of releasing anywhere near the behemoths named Drake, Bunny, and Taylor because of their sheer dominance. 

Elias Leight: Commanding a large swath of the top ten seems increasingly common for debut albums from heavy hitters. The bigger challenge is sticking around: Drake enjoyed nine of the top 10 slots after Certified Lover Boy debuted, including No. 1, but nine shrank to three in week two, and he gave up No. 1. He nabbed three of the top 10 spots on the chart after Honestly, Nevermind, but in week two, three shrank to one, and he ceded control of the top spot again. It will be interesting to see how the top ten looks on next week’s chart.

Jason Lipshutz: It’s still major headline news — although it feels like these top 10 floods are becoming more commonplace, the reality is that Taylor Swift and Drake are the two artists who could reliably pull off this feat, and they just happened to release big (even by their standards) projects two weeks apart. If Swift and Drake hypothetically don’t release new albums within the next few years, then… we might not see this again for the next few years! What Drake just achieved is still wildly impressive, even if Swift matched him a few frames back.

Andrew Unterberger: Crazy to say, but I think it’s close to par for the course at this point. Of course, when we say “Drake and stars of his level,” we’re not talking about more than five artists total — and maybe as few as just him and Swift — so even if it’s not a particularly jaw-dropping accomplishment for them anymore, it’s still not one a whole lot of other artists are likely matching anytime soon.

4. Despite Drake and 21 Savage’s Hot 100 takeover, they’re still held off the coveted No. 1 spot by “Anti-Hero,” from Drake’s Republic labelmate Taylor Swift — who released no less than five separate remixes for the song released for sale on Swift’s webstore, helping add to the song’s best-since-2017 weekly sales total of 327,000. If you’re Drake (or 21 Savage, but mostly Drake), does it sting to lose out on the dual No. 1, or are you too busy celebrating your other accomplishments of the week to notice much?  

Rania Aniftos: It clearly stings, because Drake was shamelessly petty about it on his IG Stories.  

Carl Lamarre: Drake was a bit salty, especially when he reposted the Hot 100 charts on his stories and blocked out Taylor’s No. 1 win with different emojis. I can’t blame him: He’s a competitor and relishes being the top dog in the music industry. Drake knows he’s the emperor of rap, but I wonder if Taylor and even Bad Bunny’s success this year has him questioning his game plan going into the future from a mainstream level. 

Elias Leight: Considering that Drake has 11 Number One hits already, including one from earlier this year, and has already set an absurd number of records for performance on the Hot 100, he’ll be fine.

Jason Lipshutz: Because of the mini-comeback that Her Loss represents for Drake following Honestly, Nevermind, I’d guess that losing out on another Hot 100 No. 1 doesn’t matter as much as ending this year with another huge project and a flood of top 10 hits. Plus, “Jimmy Cooks” hitting No. 1 for Drake and 21 Savage earlier this year lessens the disappointment for the lack of a chart-topper with this debut week. And who knows? “Rich Flex” certainly isn’t lagging in streams; “Anti-Hero” will be tough to dislodge from No. 1 for a while, but I wouldn’t be shocked if they get there in future weeks.

Andrew Unterberger: He absolutely cares, and so does Swift. It’s a fascinating showdown between two of the most chart-conscious superstars of the 21st century, and it’ll be very very interesting to see what (if any) future developments this leads to in the relationship between very arguably the two biggest names in the last 15 years of popular music.

5. While the commercial response to the album has been overwhelmingly positive, the critical notices have been considerably more mixed, largely due to Drake’s questionably pointed lyrical barbs at various real-life pop culture figures — most notably Megan Thee Stallion. Does this stuff tarnish the album’s triumphs to you?  

Rania Aniftos: One hundred percent. Misogyny and undermining a Black woman’s traumatic experience is never OK. Period. 

Carl Lamarre: I come from the era of letting it fly in rap. Despite the overwhelming disdain from critics about Drake’s barbs, it shouldn’t take away the sheen and gloss of this album. It’s an excellent project that shows the potency of Drake and 21 as a fierce pairing. And though Drake enjoyed his role as the villain on this album, I’m curious to see if he continues as the genre’s leading habitual line-stepper in years to come. 

Elias Leight: From 2011 to 2015, Drake was critically beloved and commercially dominant. Since then, his albums have been less thrilling — especially when he’s not committed to experimenting with different styles, like Afrobeats or house — even as the album-equivalent-unit tally remains eye-watering. The barbs are tiresome; behind them is an intermittently invigorating but mostly underwhelming album.

Jason Lipshutz: A little, although this has been the case for Drake throughout his career — trying to square his obvious brilliance as a pop music creator with his occasionally obnoxious and morally objectionable lyrics — and it’s been the case with countless other artists whom I love and admire while also vehemently disagreeing with some of their messages. The Megan lyric is clearly lunkheaded, and there are a few others on Her Loss that have been (and deserve to be) called out; everyone has a different threshold for enjoying the art around those lyrics, and while I still have Her Loss on repeat, I don’t begrudge anyone who’s rebuked it.

Andrew Unterberger: It stinks, but it’s almost certainly not by accident: Drake knows the lyrics of his that are going to get people talking, and he’s clearly decided that leaning into the villain role in hip-hop is the smart long-term play for his career prospects as he dives into the back half of his 30s. He’s probably right — Drake usually is. But it’s still pretty unfortunate that a guy who, lest we forget, did rise to superstardom not only in large part because of his relatability, but because of emotionally visceral collaborations with female co-stars like Nicki Minaj and Rihanna, should make such rampant misogyny not just an occasional byproduct of his brand (and it always has been that), but something more like a governing principle.

It’s all in the game to a certain extent, sure, and there absolutely is room in rap for the Bad Guy, which is something both of the artists Drake has teamed up with for full albums understand as well as anyone. But there’s a recklessness to the barb-throwing here that feels decidedly uncharming coming from a guy who barely ever leaves the winner’s circle; Megan lyrics actively make an already-ugly situation worse, and for so little reason. It just isn’t worth the headlines, but this is what happens when a rapper of Drake’s station starts not to give a f–k and stops fearing the consequences.

Gwen Stefani Has a Corny Gift Idea in Mind for Blake Shelton’s ‘Voice’ Retirement

What do you get the guy that already has everything? Gwen Stefani is not entirely sure but has at least one hilarious gift idea in mind for her husband Blake Shelton‘s retirement from The Voice.

Ahead of Monday’s (Nov. 14) live shows on the singing competition, the No Doubt singer caught up with Entertainment Tonight and revealed that staff members on the program have been trying to figure out what to get Shelton after he completes season 23 of The Voice.

“This is crazy ’cause everyone’s coming after me for ideas, ‘What should we do?’ and it’s hard, you know, he has everything,” Stefani told the outlet. “But I think his favorite thing would be a bag of corn, like honestly, he would be so thrilled. Or fertilizer or something like that.”

Shelton announced his departure from the long-running NBC singing competition back in October after serving as a judge for 12 years. The “Boys ‘Round Here” singer, who has been present for all seasons of the show, crowned a champ from his team in eight of the show’s previous 21 seasons. Stefani previously remarked that she feels for viewers of the show in light of his impending departure come season 23. (Shelton will join The Voice veteran Kelly Clarkson for season 23 alongside newcomers Niall Horan and Chance the Rapper.)

“He’s brought so much joy. He’s so talented,” the “Hollaback Girl” singer told Entertainment Tonight last month. “I know people just wait around to laugh and watch him on TV, so I feel sorry for everybody [that] he’s gonna be gone.”

“It’s so weird Blake Shelton is leaving The Voice. I wasn’t ready, you know what I mean? I have to figure out who this new Blake’s gonna be,” she added. “I’m just so proud of him.”

BTS Scores Three 2023 Grammy Nominations

BTS got a triple dose of good news when the 65th annual Grammy nominations were announced on Tuesday (Nov. 15). The group is vying for best pop duo/group performance for the third year in a row with “My Universe,” a collab with Coldplay. They are up for best music video for “Yet to Come.” And they are nominated for album of the year as featured artists on Coldplay’s Music of the Spheres.

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It’s the first time the K-pop sensations have been nominated in more than one Grammy category in any given year.

BTS was nominated for best pop duo/group performance with “Dynamite” (2020) and “Butter” (2021). They are the only act to be nominated three years in a row in this category since it was introduced as part of a Grammy revamp of its category structure in 2011.

This category is home to both ongoing groups/duos and collaborations by solo artists. Looking strictly at ongoing groups and duos, Coldplay has had the most nods in the category (five), followed by Maroon 5 (four), BTS (three), and The Chainsmokers and Florence + the Machine (two each).

“My Universe” is the second collab by two groups to be nominated for best pop duo/group performance. Coldplay was also involved with the first, “Something Just Like This,” a 2017 collab with The Chainsmokers.

Three members of BTS – J-Hope (Jung Ho-Seok), RM (Kim Nam-Joon) and Suga (Min Yoon-Gi) — are also credited as songwriters on the Coldplay album, so they would have been album of the year nominees even if BTS were not listed as featured artists.

The other nominees for best pop duo/group performance are ABBA’s “Don’t Shut Me Down” and three collabs by solo artists – Camila Cabello featuring Ed Sheeran’s “Bam Bam,” Post Malone & Doja Cat’s “I Like You (A Happier Song)” and Sam Smith & Kim Petras’ “Unholy.”

The other nominees for best music video are Adele’s “Easy on Me,” Doja Cat’s “Woman,” Kendrick Lamar’s “The Heart Part 5,” Harry Styles’ “As It Was” and Taylor Swift’s All Too Well: The Short Film.  

Ticketmaster Postpones Sales For Taylor Swift’s ‘Eras’ Tour Due to ‘Historically Unprecedented Demand’

On the same day that Taylor Swift casually picked up four Grammy nominations, Swifties fought tooth and nail to pick up tickets for her Eras Tour next year. In fact, so many millions (that’s right, millions) of them flooded Ticketmaster’s site trying to purchase tickets during the tour’s initial presale Tuesday (Nov. 15), the company was forced to postpone a couple of its onsales following high reports of site crashes and technical difficulties.

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“A few updates on the Taylor Swift Eras Tour onsale,” read a statement posted to Ticketmaster’s official Twitter account. “There has been historically unprecedented demand with millions showing up to buy tickets for the TaylorSwiftTix Presale.”

“Hundreds of tickets have been sold,” it continued. “If you have already secured tickets, you are all set. If you are currently in a queue, please hang tight — queues are moving and we are working to get fans through as quickly as possible.”

The company went on to announce that onsales scheduled for West Coast shows in Los Angeles, Las Vegas, Santa Clara and Seattle would be postponed to 3 p.m. PT Tuesday instead of its original time of 10 a.m. PT. The Capital One cardholders presale was also moved to 2 p.m. local time Wednesday (Nov. 16), delayed from its originally scheduled starting time of 2 p.m. local time on Tuesday.

“All presale codes and links sent via text will still work at that time,” Ticketmaster reassured Swifties in its statement. “Thank you for your patience as we continue managing this huge demand.”

The presale initially started at 10 a.m. local venue time on Tuesday and was soon followed by outages on Ticketmaster’s website. The technical difficulties were reported and posted about by anxious fans trying to secure seats at one of Swift’s 52 North American shows kicking off in March next year.

Some of the gargantuan demand for Eras Tour tickets had been apparent even leading up to the ticket sale, leading the “All Too Well” pop star to add 25 additional shows to her 27 original dates in the past couple weeks.

Read Ticketmaster’s full statement below.

GloRilla Feels ‘Super Blessed’ With Her First-Ever Grammy Nomination For ‘F.N.F. (Let’s Go)’

Let’s go! Good news awaited GloRilla when she landed in Los Angeles Tuesday morning (Nov. 15) as the nominees for the upcoming 65th annual Grammy Awards were being announced — she was one of them. Her breakout hit single, “F.N.F. (Let’s Go)” with Hitkidd, earned her a coveted spot in the best rap performance category.

“I’m in disbelief. I don’t think this is happening for real. This crazy,” she tells Billboard shortly after the announcement. “My team let me know, [but] I had to go look it up for myself because I had thought maybe they was playing.”

Surely enough, the 23-year-old MC found herself with the likes of DJ Khaled, Jay-Z, Kendrick Lamar, Future, Young Thug and other hip-hop heavyweights in the same category. “It’s super lit!” she says of being in their company. The 2022 summer anthem “F.N.F.” propelled GloRilla into stardom this year, reaching No. 1 on Mainstream R&B/Hip-Hop Airplay and peaking at No. 42 on the Billboard Hot 100 as well as inviting a deal with Yo Gotti‘s CMG label in July.

The song not only put Glo on the map, but it also helped shine a light on Memphis. “That’s what we were lacking in Memphis. We got great male artists coming out, but for females, the light was so dim. She’s opened up doors and put a spotlight on a lot of females,” her manager Marcus Ward told Billboard back in February.

“It’s a hood triumph fo sho,” Glo says. “I feel super blessed.”

Kourtney Kardashian Wishes Travis Barker a Happy Birthday in Sweet Tribute Message: ‘You Have Changed My Life Forever’

Travis Barker is officially 47! To celebrate, Barker’s wife Kourtney Kardashian took to Instagram on Monday (Nov. 14) to share a series of intimate photos to her feed, wishing the rocker a very special day.

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“I am beyond grateful for the day you were born. Happy birthday to the husband of my dreams, my soulmate @travisbarker you have changed my life forever,” she captioned the series of snaps, which featured her in a black corset top and matching underwear while her husband wore a white tank and sparkling black fringe pants.

The Blink-182 drummer hopped in the comments and replied, “My soulmate, I love you forever” with a simple red heart emoji.

The Poosh founder was not the only one in her family to wish Barker a happy birthday — her sisters Kim and Khloé both posted well wishes to the rock star via their Instagram Stories on Monday.

Kim shared a photo of her with the Barkers enjoying time at the beach together and captioned the Story post, “Happy birthday Trav!!!!! I hope you are celebrating and doing something you will never forget!” Meanwhile, Khloé wished Barker a happy birthday along with snaps of him with Kourtney from their wedding. “I wish you a lifetime of love with my Kourt. Thank you for all the love and happiness you share with us all,” the Good American founder wrote, adding in later Story posts, “The beginning of many more years of love and blessings” and “Cheers to the best dad out there.”

Even the drummer’s mother-in-law couldn’t help but chime in on the birthday love. Kris Jenner shared a series of family photos to her Instagram account with a very kind message attached.

“Happy birthday to my son in law @travisbarker,” she wrote. “You are the most amazing dad, stepdad, husband, uncle, son, and friend! You are so kind, thoughtful, generous, creative, talented, and I’m so happy to have you as part of our family! You make @kourtneykardash so happy and I love you and appreciate you and hope you have the most amazing day ever!!!”

See Kourtney Kardashian and Kris Jenner’s birthday posts to Travis Barker below.

What Brookfield Hopes to Get From Its $2B Investment In Primary Wave

Overnight sensations are largely a myth in the music business, and Brookfield Asset Management’s surprise emergence in early October as one of the biggest players in the song-catalog investment and management market was no exception.

Angelo Rufino, the managing partner behind the company’s $2 billion investment in music publisher Primary Wave, says the deal “was a real creative endeavor that took many twists and turns over six months until we both said, ‘We’ve got it. This makes complete sense.’ ”

The 41-year-old East Fishkill, N.Y., native is referring to Primary Wave founder/CEO Larry Mestel, whose business model, he says, convinced Brookfield it was time to make its first foray into the music industry. “We found, after a very long search, the manager who really spoke to how we invest as a company. Larry doesn’t buy an asset, then sit back and say, ‘Well, streaming’s growing at 18% this year. I’m going to get my beta just participating alongside that industry growth.’ He’s got a massive team of branding experts, content experts to proactively drive growth.”

Rufino predicts that strategy will be crucial to future success. “As more money comes in and as things become more competitive,” he says, “we think the ability to grow and compound these assets with a value-added component will be the single differentiator between the winners and losers.”

Rufino and Mestel worked together to craft a three-pronged structure without outside help — unusual in today’s world where investment bankers are often relied-upon go-betweens. They set up a permanent capital vehicle, which they filled partly by buying out some of the investors in Primary Wave’s first and second funds. They rolled $700 million in assets from those funds into the new structure. Brookfield threw another $1 billion on top, and Creative Artists Agency (CAA) joined as a strategic partner and minority shareholder. The result: one of the biggest single funds aimed at catalog acquisitions in the music industry.

Angelo Ruffino's desk plaque

Angelo Ruffino’s desk plaque serves as a reminder “that contrarian thinking is required, as things tend to come full circle.”

Krista Schlueter

Rufino, who holds a seat on the company’s newly formed board, sees the music intellectual-property (IP) asset class eventually becoming a $100 billion market and Primary Wave doubling or even tripling in size — while generating returns exceeding 20% — through movies, gaming partnerships and international expansion.

“It just so happens that Brookfield is the largest private investor in Brazil — a country that has an enormous music culture,” Rufino says. “We’ve also made strong footholds in India as a company, and it’s a market we are interested in exploring with Primary Wave.”

That’s not all. Brookfield’s limited partners — clients on the side of Brookfield’s business that manages money for a fee — remain extremely interested in investing in artists’ rights, especially now that some of the frenzied buying of last year has calmed, Rufino says. “We believe music [IP] as an asset class is still in the very early innings.”

Brookfield’s investment in Primary Wave is its first in the music industry. What should people unfamiliar with your firm know about Brookfield and how it invests?

We are a 100-year-old asset manager that has its roots in a Canadian holding company. We always take a contrarian view to value investing. We want to own things that we view as the backbone of the global economy. We began as a company that owned and operated assets, as opposed to just invested in them from a financial perspective. We started in real estate [and] very quickly branched out into infrastructure, renewables, corporate private equity. We’ve ticked every box of the global ecosystem of asset classes while [building on] our heritage as owner-operator with the best of both worlds — permanent capital and third party-managed money.

Where does Primary Wave fit in Brookfield’s $750 billion portfolio of assets?

Our CEO, Bruce Flatt, wants us to own the backbone of the economy. With Primary Wave, we own the backbone of the music industry with a super-long tail and very stable cash flows. When you own Bob Marley, Whitney Houston, James Brown, these are brands. He’s the best I’ve ever seen at leveraging brand extensions to supercharge the growth of these assets. When we saw the catalogs, we said, “These are the types of assets we can own forever if we so choose.”

Who brought in CAA?

That was Larry’s relationship. He introduced us to [CAA president] Jim Burston, and it became very obvious very quickly that they would supercharge Larry’s core competency. There is an absolute grab for content at this point. Netflix, Hulu and 30 others need to keep us engaged. We are going to keep seeing these artists weave their way into our lives, and CAA has the relationships to help us do that across many entertainment venues while also providing intros to artists.

Angelo Ruffino's Buddha Statue

The Buddha statuette “was a gift from a friend and colleague to bring our team good luck and fortune,” says Rufino.

Krista Schlueter

The market for investing in song catalogs and other intellectual property has grown crowded over the last two years. What’s your outlook for this asset class?

I’d actually argue it’s not that crowded. Somewhere around $7 billion has been raised to go after this asset class, and we think the total addressable market is well in excess of $100 billion. We think there’s going to be a massive opportunity over the next three to four years to acquire these rights. The other thing is that the opportunity set will become much more nuanced. These are really emotional, sensitive transactions for artists, and Larry has emerged as somebody whom artists trust, and that’s important when you are selling something as incredibly important as your life’s work. We wanted to buttress that by saying, “What would be better than partnering with the best steward for my assets and a financial partner that understands this asset class and has an ability to hold the asset forever?”

Why do this deal now?

I was resigned to thinking we wouldn’t get something done in the space until we met Larry earlier this year. What we knew was that 2021 didn’t feel like a good time to do this type of transaction. 2021 was a year of madness in the markets — sky-high valuations across anything you could look at. Brookfield is patient and has the capital base and buy-in from our CEO and investors to wait until opportunities are ripe and fit our organization. So we continued studying the space, gaining conviction in the asset class and understanding that the macro environment would eventually present the opportunity to acquire these assets at a good value.

Do you expect to deploy additional capital beyond what was already committed?

If the business model plays out the way we expect, yes, this entity will just keep receiving capital from us.

As you look to scale Primary Wave, what other companies might make sense to buy?

There are many things we can look at. There are going to be things that touch future mediums of how music is disseminated. Maybe it’s channels of distribution that might make sense for us. Maybe it’s song-catalog managers — people who are doing what we’re doing but need assistance with the value-added component. It could be international opportunities where we are looking at companies that could help us fully brand some of these artists in areas outside of their home country.

What kind of return does Brookfield expect to earn?

We have a 20-year history of compounding at 20%-plus in our public top company. We think returns for this asset class can be at that level and for a very long duration.

Where do you see opportunities for growth?

There are so many ways to monetize music. Think about movies, video games. Music is going to be like the Marvel and DC comic catalogs. We started with Batman and Superman. Then Justice League and Wonder Woman and Black Panther. You think about Rocket Man, Bohemian Rhapsody, Elvis. Now Larry is bringing Whitney Houston to Hollywood. I look at our portfolio of musicians and say we’re going to have movies made on each of them. Prince, Whitney, Bob Marley.

The ability to scale streaming penetration globally is enormous, and the number of vectors that are going to occur with YouTube, TikTok, Peloton are not going to only drive music penetration and pricing, but growth in areas that we haven’t begun to realize.

Angelo Ruffino's fugazi bell

Angelo Ruffino’s “Fugazi” bell is “a fun way to call out analysis, accounting or anything that doesn’t make sense as we review investment opportunities.”

Krista Schlueter

If there was one biopic you want Primary Wave to make, what would it be?

Prince. I’m a big Prince fan.

What other music do you like?

Classic rock. I love all things ’60s, ’70s and ’80s. I’m a massive Talking Heads fan. I’ve always been into music and sang a cappella at Skidmore College and for many years in New York, including in a group called The Invisible Men. We disbanded when we all started having kids. My two sons, who are 3 and 4, love Tom Petty. We don’t own that catalog. Larry’s going to have to buy it.

ODESZA, Diplo, RÜFÜS DU SOL & Beyoncé Lead 2023 Dance/Electronic Grammy Nominations

The 2023 Grammy nominations for the pair of dance/electronic categories were announced with the rest of the 2023 nominees earlier on Tuesday (Nov. 15), with Grammy mainstays Diplo, ODESZA, RÜFÜS DÜ SOL and Bonobo leading the pack of nominees.

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In the best dance/electronic album category, the 2023 nominees are Bonobo’s Fragments, Diplo’s self-titled LP, ODESZA’s The Last Goodbye, RÜFÜS DÜ SOL’S Surrender and Beyoncé’s Renaissance. All of these artists have multiple previous Grammy nominations and several wins. (RÜFÜS DU SOL took home the awards for best dance/electronic recording at last year’s Grammys.)

2023 marks Beyoncé’s first nomination in this category, with her seventh studio album Renaissance earning wide acclaim for embracing house music as well as incorporating beloved dance world producers including Honey Dijon and Green Velvet.

Meanwhile over in best dance/electronic recording, Beyoncé turns up again for “Break My Soul,” Bonobo turns up again for “Rosewood,” Diplo turns up again with his Miguel collab “Don’t Forget My Love,” RÜFÜS DU SOL turns up again for “On My Knees,” Kaytranada (the 2021 winner for best dance/electronic album) gets the nod for his H.E.R. collab “Intimidated” and David Guetta and Bebe Rexha snag the nomination for “I’m Good (Blue),” their collab that samples the the 1998 Eiffel 95 classic “Blue (Da Ba Dee)” and which is currently spending its eighth week at No. 1 on Hot Dance/Electronic Songs.

Notably absent from the nominations is Swedish House Mafia’s debut album, Paradise Again, or any of the singles from that LP. Fred again.., a huge fan and critic favorite in this past year, was also not acknowledged by the Recording Academy.

The 65th annual Grammy Awards will be held on February 5, 2023 at Los Angeles’ Crypto.com Arena.