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From the late 1990s into the 2000s, “VH1 Save the Music” was a household name known for its annual Divas Live benefit concerts featuring such bold-faced icons as Aretha, Whitney, Mariah and Celine. But by the end of the 2010s, following the television network’s pivot to reality series like Love & Hip-Hop and Basketball Wives, the branding no longer made sense.
“In 2019, it was pretty clear strategically that going forward, the VH1 brand was not going to be part of our future,” says Henry Donahue, executive director at the Save the Music Foundation. As a result, “VH1” was dropped from the organization’s name that same year.
Far from being a disaster, unbundling from VH1 gave Save the Music new life, says Donahue — and in 2025, it’s arguably doing better than ever. According to Donahue, Save the Music’s annual operating budget in 2018 — the year before the VH1 name was dropped — was $4.7 million. Last year, that number had risen to nearly $11 million, including more than $1 million from a new $10 million endowment fund that the foundation formally announced on Wednesday (Jan. 29). (Save the Music notes the 2024 numbers are still unaudited.)
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The fund, of which $4 million has already been raised, will “ensure the cultural institution’s sustainability and long-term support for music education,” according to a press release. Notably, the endowment coincides with a formal split from Save the Music and VH1’s longtime corporate parent Paramount Global (formerly Viacom), though the entertainment giant has pledged an initial six-figure donation.
The breakup had been a long time coming. In the five years since it dropped the VH1 branding, Save the Music has substantially reduced its dependence on Paramount after the company opted to move away from social responsibility initiatives, the foundation says. By 2024, 95% of Save the Music’s organizational budget came from non-Paramount sources, with notable backers including tech and music industry behemoths like TikTok, Live Nation, Meta, Amazon and AEG Presents.
The split from Paramount marks the end of a long and productive relationship. Since it was founded by then-VH1 president John Sykes in 1997, Save the Music has donated more than $75 million worth of instruments and technology to over 2,800 school music programs in more than 300 districts across the U.S. and improved the educational fortunes of countless under-resourced students.
Sykes tells Billboard that the foundation came about after he visited Brooklyn elementary school P.S. 58 as part of a “principal for a day” initiative and, while sitting in on the school’s music class, “saw these kids playing their instruments [that] were held together with tape, literally tape, and strings missing on violins, and they didn’t care. They were so, so excited and so connected to the music… they had no idea that the instruments they were playing were falling apart.”
While speaking with the music teacher, Sykes (now president of entertainment enterprises at iHeartMedia and chairman of the Rock & Roll Hall of Fame) learned that the music program would likely have to close down for lack of funds. “And I said, ‘Well, how much do you need?’” he remembers. “And she said, ‘Well, a lot — $5,000.’ I said, ‘You got it.’”
Sykes was particularly encouraged by something else the teacher said: That the children who played instruments tended to earn better grades in math and English. Around the same time, he read a magazine article that described how music “helps wire a kid’s brain.”
“I said, ‘Oh, my God. This is bigger than one school. This could impact the country,’” he says. “And VH1 was a national channel. So I went back to our team and I said, ‘We’re going to adopt more schools across the country and partner with our cable systems to raise money and start using the power of VH1’s reach to go and influence local governments not to cut music programs. And we’re going to raise money to fund those programs.’”
Soon enough, Save the Music had equipped roughly a dozen New York schools with musical instruments. When Sykes put in a personal call to President Bill Clinton, who had famously played the saxophone on The Arsenio Hall Show during the 1992 election campaign, Clinton agreed to donate one of his saxes to an underprivileged school in Washington, D.C. When the President sent First Lady Hillary Clinton to hand the instrument over, says Sykes, “It became a national story.”
The foundation was formally unveiled in April 1997 during that year’s VH1 Honors awards show, which raised $150,000 for the organization and featured callouts from A-list artists touting the importance of music education. The following year, VH1 Divas Live — a once-annual concert special benefitting the foundation — was launched with Dion, Aretha Franklin, Mariah Carey, Shania Twain and Gloria Estefan and became a phenomenon, grabbing big ratings and even selling albums. (A series of commercially-released VH1 Divas albums sold a combined 1 million copies in the U.S., according to Luminate.)
In its current iteration, Save the Music makes a capital investment in between 100 to 150 school music programs in the U.S. every year, says Donahue. The foundation identifies districts to support via a rubric that looks at two primary factors: economic need, which accounts for everything from median income and racial demographics to free and reduced lunch rates; and readiness and willingness of the district to work with them, including by providing a certified music teacher. They also look at scale, preferring projects that allow them to target “30 or 50 or 100 schools all at once” in a district or a region, says Donahue.
The gradual de-coupling from Paramount brought opportunities and funding Save the Music otherwise wouldn’t have had. In 2021, the new paradigm “was validated,” Donahue says, when the foundation received a $2 million grant from MacKenzie Scott — the co-founder of Amazon and ex-wife of Jeff Bezos — “which we never would have gotten had we been VH1 Save the Music.”
The shift away from Paramount also allowed Save the Music to become much more responsive to communities’ needs, says Donahue. “[We wanted to] push towards a strategy where our work was much more community based,” he says. “So we were listening to the people in the communities that we served, as opposed to taking direction from the corporate parent or however we fit into the corporate strategy.”
Save the Music’s sought-after post-VH1 program is the J Dilla Music Technology Grant, which invests in music technology curriculums and equipment for elementary, middle and high schools in an effort to help train the next generation of producers, engineers, songwriters, DJs and more. Chiho Feindler, who has served as Save the Music’s chief program officer since 2008, says the grant allows kids to be trained early in the kind of behind-the-scenes jobs that can lead to real careers.
“We often talk about everybody wants to become the Jay Z…but there are a thousand other jobs behind that that can be equally, if not more satisfying,” Feindler adds.
“[It’s] our most-demanded program,” Donahue says of the J Dilla grant, which has gone to more than 100 schools, including “35 or 40” just during the 2024-25 school year. “That’s the thing that schools now ask about most often and it’s the thing that people in the music industry ask about most often.”
A more recent focus has been expanding the foundation’s grants for Latin music programs to encompass additional genres and styles beyond mariachi — another result of the new freedom and depth of engagement with communities made possible by the gradual split with Paramount. “Mariachi is really a small part of the Latin community,” says Feindler, “[but] mariachi is not a solution for all of the Spanish-speaking community.” (Full disclosure: Billboard recently hosted a fundraiser via Instagram for Save the Music’s “Miami Saves Music” project, which is aiming to invest in instrumental and music tech programs for roughly 100 public schools in Miami-Dade County by 2027.)
Feindler adds that Save the Music is also looking to offer more support to preschool and elementary school-aged music programs by providing kid-friendly instruments like xylophones and drums after focusing “for the longest time… on more of the band and stringed [instruments],” she says.
Another new initiative was announced on Wednesday: a giveaway campaign hosted on the charity platform Propellor that will allow fans to bid on more than a dozen auction items from artists including Sabrina Carpenter, The War and Treaty, Blake Shelton and Patti LaBelle to support the foundation.
Though Save the Music is far from its nationally televised Divas Live days, it still attracts A-list talent. In 2023, Ed Sheeran teamed with the foundation to surprise five schools with “pop-up” classroom visits while donating a portion of the proceeds from digital album sales from his Autumn Variations album, along with 100% of the ticket proceeds from an Amazon Live performance, to the organization. Last year, Save the Music also secured the support of Jelly Roll, who visited and performed at his former high school in Antioch, Tenn., and made a substantial donation to the foundation. And in October, Maren Morris, Brittney Spencer and Live Nation Women’s Ali Harnell were honored at Save the Music’s Hometown to Hometown benefit in Nashville, which raised more than $300,000 for music education programs in under-resourced public high schools.
With or without Paramount, Save the Music will continue to endure, says Sykes, because at heart it’s not just about learning to play an instrument but about giving kids a chance at carving out a successful path in life.
“This is not just, ‘Junior is happy because he’s playing the flute or the violin,’” he says. “That kid’s going to go to college, that kid’s going to do better, that kid’s going to stay in school, that kid’s going to feel better about himself or herself. There’s so many different positive outcomes of music education.”
As the music industry prepares to celebrate at the 67th annual Grammy Awards on Sunday (Feb. 2), the latest report from Dr. Stacy L. Smith and the USC Annenberg Inclusion Initiative suggests that things for women in music are holding steady but not moving forward. The study is based on the year-end Billboard Hot 100 chart and Grammy nominations in key categories.
After documenting significant change for women last year, the Spotify-supported study finds that there was little movement in 2024. Women comprised 37.7% of artists across the Billboard Hot 100 year-end chart last year, which is a bit better than 2023 (35%) and a significant improvement from 2012 (22.7%). More than a third (38.9%) of individual artists on the year-end chart were women, compared to 40.6% in 2023 and 35.8% in 2012.
“Women artists in 2024 saw little change,” Dr. Smith said in a statement. “In fact, it is the number of men that has declined while the number of women in 2024 was consistent with prior years. This suggests that it is fluctuations in the number of men, not gains for women that is driving these findings. For those interested in seeing change in the music industry, this is not a sign of progress.”
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The percentage of women songwriters on the year-end Hot 100 chart in 2024 was 18.9%, which was similar to the percentage in 2023 (19.5%) and significantly higher than the 11% of songwriters in 2012 who were women. Whereas women of color were responsible for the gains seen for women in 2023, this was not the case in 2024. Last year, the number of women of color represented on the year-end chart as songwriters dipped while the number of white women songwriters increased. Just over half (54%) of those songs featured at least one woman songwriter, on par with 2023 and significantly higher than 2012.
“While there may be movement in the independent space, the songs and charts evaluated represent the agenda-setting music that has the greatest opportunity to launch and grow a career,” said Dr. Smith. “Until the people in the executive ranks and A&R roles take seriously the lack of women in the industry, we will continue to see little change.”
Looking to producers of popular songs in 2024, once again there was no increase for women. A total of 5.9% of producing credits on the Hot 100 year-end chart were held by women, compared to 6.5% in 2023 and 2.4% in 2012. And of the 14 women producers on the year-end chart in 2024, only two were women of color. Across all 13 years of the study, 93.3% of songs lacked any women producers.
“Behind the scenes, women have not lost ground since the gains we saw last year,” said Dr. Smith. “However, the numbers are not growing. Programs like Be The Change, Keychange, She Is The Music, Spotify’s EQL, Women’s Audio Mission, and others are supporting talented women who are ready to take on opportunities. These numbers can continue to grow if the industry looks to these organizations and the many qualified women ready to work as songwriters and producers.”
Artist race/ethnicity was also assessed in the report. The percentage of artists of color (what the study calls “underrepresented artists”) on the year-end chart in 2024 (44.6%) fell significantly from 2023, when the number stood at 61%. Despite the decline, the percentage of artists of color remained on par with the proportion of the U.S. population that is people of color. Additionally, it was still meaningfully greater than 2012 (38.4%).
The drop affected both men and women of color, though the decline for women was steeper. In 2024, 40.8% of all women artists were women of color, while 46.9% of men were men of color. In 2023, nearly two-thirds of women on the popular charts were women of color (64.9%) as were more than half of men (59.4%).
The report also assessed Grammy nominations in the six categories that comprise the General Field: album, record and song of the year, best new artist, and producer and songwriter of the year, non-classical. According to Annenberg, just under a quarter (22.7%) of all nominees in these categories in 2025 were women, similar to 2024 (24%) and significantly greater than 2013 (7.9%).
The Annenberg analysis counts all nominees in album and record of the year, not just artists; in those two categories, producers, engineer/mixers and mastering engineers are nominated alongside artists. (There are no so-called “supplemental” nominees in the other four categories named above.)
This year, female solo artists took four of the eight nominations for best new artist, the same as last year. But last year, a male/female duo (The War and Treaty) was also nominated. That represents a slight drop for women this year, but women still had parity.
In song of the year, the number of female songwriters who are nominated inched up this year, from eight last year to nine this year.
Annenberg reports that the one nomination for a woman in the producer of the year, non-classical category represented a significant jump, as Alissia is only the second woman to be nominated in the category since the study began tracking nominations. (Linda Perry was nominated in the category six years ago.)
Meanwhile, four of the five nominees for songwriter of the year, non-classical this year are women: Jessi Alexander, Amy Allen, Jessie Jo Dillon and RAYE. The only male nominee is Édgar Barrera. This compares to just one female nominee last year.
“The Recording Academy has demonstrated that it can recognize the contributions of women to the music industry—this is clear through the increase we observed last year and that it has continued into this year,” said Dr. Smith. “The challenge now is to continue that growth and to see more women receiving acknowledgement of their talent and effort through awards like the Grammys, particularly for women in producing roles.”
The latest report from the Annenberg Inclusion Initiative can be found here.
LONDON — Musicians and creator groups are calling upon the British government to take legislative action to help end the “endemic” misogyny, bullying and discrimination that many female artists still routinely face throughout the industry.
“We need a cultural change in the music industry… and the only way that can happen is if people are educated and there are consequences to their actions,” Charisse Beaumont, CEO of Black Lives in Music (BLiM), told a cross-party committee of MPs on Tuesday (Jan. 28).
Appearing alongside Beaumont at the Parliamentary session was singer-songwriter Celeste, classical soprano singer Lucy Cox and Naomi Pohl, general secretary of the U.K. Musicians’ Union, who all echoed calls for greater protections and support for women working across all sectors of the music business, particularly those in freelance employment.
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“What is most prevalent in my daily experience of being a female in the music industry is this idea of an ingrained bias or even an unconscious sexist bias,” Celeste told MPs.
“I think that all women will deal with it but there will be a scale of how much you [encounter it]. I can imagine that what I might experience might be different to an artist who is on a global scale and I know, for example, from some of my close friends and peers who are just starting out in music … [that they] experience things that I haven’t experienced when I have had the protection of already being established,” said the singer, whose debut album, Not Your Muse, topped the U.K. charts in 2021.
Beaumont called on the current Labour government to enact the original recommendations made by the Women and Equalities Committee (WEC) in its highly critical report “Misogyny in Music,” published last January.
That report painted a damning picture of the music business as an industry “still routinely described as a boys club” where a “culture of silence” prevailed with many victims of sexual harassment or abuse afraid to report such incidents.
It followed an inquiry into misogyny in the U.K. music industry, which began in June 2022 and saw artists and executives give evidence, including senior executives from all three major labels, representatives of the live industry, former BBC Radio 1 DJ Annie Mac and British pop singer and Ivors Academy board director Rebecca Ferguson.
In response, the committee made a number of recommendations, including banning the use of non-disclosure agreements (NDAs) and other forms of confidentiality clauses in cases involving sexual abuse, bullying or misconduct, as well as stronger rights for freelance music workers, nearly all of which were rejected by the then-Conservative government.
With Sir Keir Starmer‘s Labour Party now in power, musicians and artist representatives used Tuesday’s catch-up session with committee members as an opportunity to exert pressure on politicians to act.
In a statement, Beaumont said her organization had heard “hundreds” of stories from women about harassment they had faced in the music industry, including being “sexually assaulted by male artists, as well as promoters, [and] people assaulting women in music education” since the launch of its anonymous survey YourSafetyYourSay in April.
BLiM’s chief executive also described accounts of young women being pressured to take part in “almost naked casting videos” and feeling “pressured to drink and take drugs,” as well as “male producers grooming young female vocalists.”
Black Lives in Music reports that 71% of respondents to its anonymous survey feel that bullying and harassment is accepted as being part of the industry they work in and only 29% feel there are people in their U.K. music business who will protect them.
NDAs are frequently used to protect perpetrators, says the organization, which identifies a normalization of harassment and objectification of women in the industry, particularly Black women. These problems are often underreported, says BLiM, as women fear the consequences and lack of support.
“Often there is no recourse or accountability, so reporting incidents is futile as those doing the bullying control the narrative. It’s happening under their watch and they are too powerful,” said Beaumont in a statement following Tuesday’s session.
BLiM said its research into bullying and harassment in the British music business will be made available to the newly formed U.K. body The Creative Industries Independent Standards Authority (CIISA), which has the remit of upholding and improving standards of behavior across the creative industries, including music, and is due to officially launch later this year.
UTA signed Mexican singer-songwriter Jasiel Nuñez. Managed by George Prajin, founder/CEO of Prajin Parlay and co-founder of Double P Records along with global superstar Peso Pluma, with whom he has a longstanding creative partnership. The Guadalajara native contributed to Peso’s 2023 album Génesis on tracks like “Laguna” and “Rosa Pastel,” the latter of which reached No. 24 on Billboard‘s Hot Latin Songs chart. In 2024, Nuñez also joined Peso on his Éxodo tour. Nuñez’s latest album, La Odisea — featuring collaborations with Luis R Conriquez, Tito Double P and Danny Lux — landed at No. 8 on Billboard‘s Top Latin Albums chart and at No. 6 on Regional Mexican Albums. “I’m excited and thankful to become part of the United Talent Agency family,” said Nuñez in a statement. “This marks the beginning of an exciting new chapter, and I’m ready to push música Mexicana to new heights.” — Isabela Raygoza
Americana music luminary Charley Crockett signed with Island Records and will release his upcoming 15th album, The Lonesome Drifter, with the label in March. In 2024, Crockett released the indie albums $10 Cowboy and $10 Cowboy Chapter II: Visions of Dallas. He is nominated for best Americana album at this year’s Grammy Awards. — Jessica Nicholson
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Alternative rock trio The Hunna (“Bonfire,” “She’s Casual”) signed with FLG, the recently launched imprint of Frontiers Label Group. According to a press release, the band has racked up more than 750 million streams since hitting the scene in 2015.
EaJ (“Car Crash”), formerly a member of the Korean rock band Day6, signed a global label deal with Position Music. Born Jae Park, eaJ is managed by Coulter Reynolds and Jerren Devine of Reynolds Management.
Metal/alt-rock singer-songwriter Violent Vira signed with Mom+Pop Music, which released her latest single, “Saccharine,” on Friday (Jan. 24) and will put out her next album later this year. Booked by CAA, Vira recently got off a 34-city tour and also played last year’s Sick New World festival.
Peso Pluma’s Double P Records added Mexican singer-songwriter Julian Mercado and legacy group Reynaldos de la Sierra to its roster. Both artists, plus newcomer Saul Villareal, will be managed by George Prajin, whose roster includes superstar Peso Pluma as well as Tito Double P, Santa Fe Klan and Gabito Ballesteros. “Double P Records is a place where artists can come to grow their careers, but also a place where they can feel at home with their family, their mentor, their manager and their friends all at once,” Peso said in a statement. Prajin added, “We are excited to be welcoming Julian, Reynaldos de la Sierra and Saul to our family. As fans of their music, we have been witnessing their drive to propel their career and are confident that with our team onboard we can help them grow even further than they ever imagined.” — Griselda Flores
Provident Entertainment/Sony Music has signed former American Idol contestant Madison Watkins to the label’s roster. Watkins, who has been making music since 2019, just released a new song, “Spin,” and is readying a new project for release in 2025. — Jessica Nicholson
Monument Records, in a joint venture with Sony Music, inked a deal with six-piece, Denver-formed band Clay Street Unit. Fronted by lead singer/guitarist Sam Walker, the group recently released the EP Introducing Clay Street Unit. — Jessica Nicholson
North Carolina-based Ramseur Management signed Americana singer-songwriter Jack Blocker, who is prepping his upcoming debut LP. The firm is led by Dolph Ramseur, long-time manager for folk band The Avett Brothers, and its roster also includes Amythyst Kiah, Big Richard and Colby T. Helms. Blockers’s day-to-day managers will be Morgan Deese Locklear and Lisette Rodriguez. — Jessica Nicholson
Nashville-based label River House Artists signed twin-brother duo The Kentucky Gentlemen to its roster. The band, composed of Brandon and Derek Campbell, has previously toured with The War and Treaty and been featured on songs by Will Hoge and Fancy Hagood. The duo recently released the song “Country Hymn.” — Jessica Nicholson
Composer Mara Keen signed with ABKCO Music & Records. Keen has contributed to film and TV projects including Netflix’s Princess Power and Scrappack Production’s Just One More Thing.
Hong Kong-based private equity firm HongShan Capital Group has agreed to acquire a majority stake in Marshall Group, makers of amplifiers that for decades have been a favorite among rock guitarists, in a deal valuing the company at 1.1 billion euros ($1.15 billion).
Under the deal, which needs regulatory approval in Europe, the Marshall family will retain “over 20%” ownership in the Stockholm, Sweden-based company. The investors divesting their stakes in the company include Swedish telecom Telia, private equity firms Altor and Time for Growth, as well as venture capital firm Zenith.
This will be the largest European investment to date for HSG, which also has offices in mainland China and London and lists TikTok owner ByteDance and the Chinese mega-retailer Alibaba in its portfolio.
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Terry Marshall, a board member and co-founder of Marshall along with his dad Jim, expressed optimism about the partnership’s potential to further the legacy of Marshall’s pioneering sound.
“We are now over 60 years into our journey, and the pioneering sound of Marshall continues to resonate across the world,” said Marshall. “Together with HSG and our team, we can further build on our history to amplify the love for music and the Marshall brand for decades to come.”
Established in 1962 in Hanwell, West London by Jim and Terry Marshall, Marshall Amplification swiftly built a loyal following by manufacturing larger-than-life amps for guitarists craving more muscle for their stage sound. Devotees of these high-wattage “Marshall stack” rigs over the years have included such guitar giants as Jimi Hendrix, Jimmy Page, Slash, Eric Clapton, Pete Townshend and Angus Young.
In 2023, Stockholm-based Zound Industries, known for their headphones and wireless speakers, acquired Marshall Amplification and rebranded it as The Marshall Group. The Marshall family retained a 24% stake in the company, with family heirs Terry and Victoria Marshall securing seats on the board of directors.
Today, the company still produces amps in the UK at their factory in Bletchley, Milton Keynes. It’s also about to introduce a new line of guitar pedals at this year’s NAMM tradeshow that it hopes will ” provide the unmistakable Marshall sound, no matter where you are.”
In early 2024, the company disclosed that a quarter of the Marshall Group’s sales come from headphones while 70% is derived from speakers and only 5% from amplifiers.
“Our mission is to support Marshall in unlocking its full potential by leveraging our expertise in digital channels and supply chain optimization,” said Taro Niggemann, managing director for Europe at HSG. “We aim to help bring Marshall’s exceptional products to even more customers globally while embracing and celebrating the spirit that has defined the brand for generations.”
Jeremy de Maillard, CEO of Marshall Group, added: “This deal is a testament to our team’s dedication and exceptional talent in making our vision a reality. Together with HSG and the Marshall family, we have the perfect conditions to continue building on Marshall’s iconic status and unlocking our full potential across the world.”
Deborah F. Rutter, who has served as president of the Kennedy Center since 2014, has announced her decision to step down at the end of this year. The Center’s board of trustees has formed a search committee to identify her successor.
“After more than 10 extraordinary years in Washington, D.C., collaborating with some of the most phenomenal artists, cultural leaders, diplomats, philanthropists, volunteers, and administrators, I have come to believe it is time to pass the torch,” Rutter said in a statement.
“Deborah’s visionary leadership has transformed the Kennedy Center,” said Kennedy Center board chairman David M. Rubenstein (who will continue to lead the board through September 2026, the Center announced in November). “Her legacy will be the Center’s increased relevance, visibility, and physical footprint.”
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Throughout her tenure, Rutter has expanded programming to represent the diversity of arts in America, most notably introducing hip-hop culture and social impact as two central areas of programming.
Under Rutter’s leadership, the Kennedy Center has grown its operating budget (expenses) to $268 million. Earned revenues have grown to $125 million, in addition to $95 million in contributed funds; $45 million in federal appropriations for the operation, maintenance and improvement of the memorial; and a $4 million draw from the endowment in fiscal year 2024.
In her first year, Rutter broke ground on a transformative arts facility and first-ever campus expansion, the REACH. After successfully delivering on a $250 million capital campaign raised entirely through private contributions, the REACH opened in September 2019.
As part of the Center’s 50th anniversary season, Rutter oversaw the development of “Arts & Ideals: President John F. Kennedy,” an immersive, permanent 7,500 square-foot exhibit exploring President Kennedy’s connection to arts and culture. Since its opening in September 2022, the JFK exhibit has welcomed nearly 1 million visitors.
Programs that evolved under Rutter’s leadership include Sound Health (Network), a collaboration with artistic advisor Renée Fleming exploring the neurological and health benefits of music. In 2024, the Center introduced its new Arts & Wellbeing series, reflecting the full spectrum of the arts and their impact on mind, body, and soul. This spring, the Kennedy Center will present “Earth to Space: Arts Breaking the Sky,” which will explore humans’ ambitions to navigate space.
The Kennedy Center serves as the home to the National Symphony Orchestra (NSO) and Washington National Opera (WNO). With more than 2,000 performances each year — and two major televised awards shows, the Kennedy Center Honors and the Mark Twain Prize for American Humor — the Center attracts 1.5 million ticketholders and more than 2 million visitors annually. Rutter has also guided the Center’s global network of more than 40 education initiatives, making it the nation’s largest provider of arts education by reaching more than 2.1 million individuals. She is also credited with landing Italian conductor Gianandrea Noseda as the NSO’s music director in 2016.
Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the U.S. government to own up to 50% of a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.
The proposal, submitted last week, is a revision of a prior plan the artificial intelligence startup had presented to TikTok’s parent ByteDance on Jan. 18, a day before the law that bans TikTok went into effect.
The first proposal, which ByteDance hasn’t responded to, sought to create a new structure that would merge San Francisco-based Perplexity with TikTok’s U.S. business and include investments from other investors.
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The new proposal would allow the U.S. government to own up to half of that new structure once it makes an initial public offering of at least $300 billion, said the person, who was not authorized to speak about the proposal. The person said Perplexity’s proposal was revised based off of feedback from the Trump administration.
If the plan is successful, the shares owned by the government would not have voting power, the person said. The government also would not get a seat on the new company’s board.
ByteDance and TikTok did not immediately responded to a request for comment.
Under the plan, ByteDance would not have to completely cut ties with TikTok, a favorable outcome for its investors. But it would have to allow a “full U.S. board control,” the person said.
Under the proposal, the China-based tech company would contribute TikTok’s U.S. business without the proprietary algorithm that fuels what users see on the app, according to a document seen by the Associated Press. In exchange, ByteDance’s existing investors will get equity in the new structure that emerges.
The proposal seems to mirror a strategy Steven Mnuchin, treasury secretary during Trump’s first term, discussed Sunday on Fox News’ Sunday Morning Futures — that a new investor in TikTok could simply “dilute down” the Chinese ownership and satisfy the law. Mnuchin has previously expressed interest in investing in the company.
“But the technology needs to be disconnected from China,” he added. “It needs to be disconnected from ByteDance. There’s absolutely no way that China would ever let us have something like that in China.”
The Perplexity proposal comes as several investors are expressing interest in TikTok. President Donald Trump said late Saturday that he expects a deal will be made in as soon as 30 days.
On a flight from Las Vegas to Miami on Air Force One, Trump also said he hadn’t discussed a deal with Larry Ellison, CEO of software maker Oracle, despite a report that Oracle, along with outside investors, was considering taking over TikTok’s global operation.
“Numerous people are talking to me. Very substantial people,” Trump said. “We have a lot of interest in it, and the United States will be a big beneficiary. … I’d only do it if the United States benefits.”
Under a bipartisan law passed last year, TikTok was to be banned in the United States by Jan. 19 if it did not cut ties with ByteDance. The Supreme Court upheld the law, but Trump then issued an executive order to halt enforcement of the law for 75 days.
Trump, on Air Force One, noted that Ellison lives “right down the road” from his Mar-a-Lago estate, but added, “I never spoke to Larry about TikTok. I’ve spoken to many people about TikTok and there’s great interest in TikTok.”
TikTok briefly shut down in the U.S. a week ago, but went back online after Trump said he would postpone the ban. Trump had unsuccessfully attempted a U.S. ban of the platform during his first term. But he has since reversed his position and has credited the platform with helping him win more young voters during last year’s presidential election.
TikTok CEO Shou Chew attended Trump’s inauguration Jan. 20, along with some other tech leaders who’ve been forging friendlier ties with the new administration.
Congress voted to ban TikTok in the U.S. out of concern that TikTok’s ownership structure represented a security risk. The Biden administration argued in court for months that it was too much of a risk to allow a Chinese company to control the algorithm that fuels what people see on the app. Officials also raised concerns about user data collected on the platform.
However, to date, the U.S. hasn’t provided public evidence of TikTok handing user data to Chinese authorities or allowing them to tinker with its algorithm.
Investors are betting there’s more gas in Spotify’s tank as the streaming company’s stock price reached an all-time high of $511.98 on Friday (Jan. 24) and finished the week at a record closing price of $510.43, up 5.1% from the previous week. Friday’s closing price valued the company at $101.6 billion, an increase of $5 billion in one week.
Spotify shares are off to a fast start in 2025 — rising 14.1% over the 15 trading days so far — after gaining 138.1% in 2024. The Stockholm-based streaming company is forecasting 665 million monthly active users, an increase of 25 million from the prior quarter, and 260 million premium subscribers, up from 252 million in the third quarter. Spotify’s fast-rising stock price mirrors the improvement in the company’s gross margin, which is forecasted to be 31.8% in the fourth quarter, up from 31.1% in the previous quarter.
Live Nation shares rose 3.8% to $140.74 on Friday, falling just shy of the all-time high of $141.18 reached on Nov. 25, 2024. On Thursday, Evercore raised its Live Nation price target to $160 from $150.
Trending on Billboard
The 20-company Billboard Global Music Index rose 3.5% to a new record of 2,303.31, bringing its gain in 2025 to 8.4%. That’s more than double the year-to-date gains of the S&P 500 (up 3.7%) and Nasdaq composite (up 3.3%). A dozen of the 20 music stocks finished the week in positive territory, with three exceeding 5% gains. Of the eight stocks that lost ground, just one fell more than 2%.
The week’s greatest gainer was Chinese music streamer Tencent Music Entertainment, which rose 7.4% to $11.59. On Tuesday (Jan. 21), Morgan Stanley upgraded Tencent Music to “overweight” from “equal weight.” K-pop company SM Entertainment also did well, gaining 7.1% to 84,000 won ($58.76), bringing its year-to-date increase to 11.1%.
Cumulus Media finished the week at $0.88, up 4.8%. The radio company’s shares soared nearly 17% on Thursday (Jan. 23) following news that Matthew Blank resigned from the Cumulus board and was replaced by Steven Galbraith, managing director of Kindred Capital Advisors and among the largest Cumulus shareholders.
SiriusXM shares fell 1.4% to $21.96. On Thursday, Morgan Stanley lowered its price target on the company to $21 from $23. SiriusXM has fallen 3.7% year-to-date and has lost 58.9% over the last 52 weeks.
The worst performer of the week was Deezer, which fell 7.3% to 1.15 euros ($1.21). Deezer shares have fallen 46.5% over the last 52 weeks and are already down 14.2% in 2025.
Stocks performed well globally as earnings season got off to a strong start. According to FactSet, 80% of companies that reported earnings thus far have exceeded expectations, beating the 10-year average of 75%. In the United States, the S&P 500 and Nasdaq composite each gained 1.7%. South Korea’s KOSPI composite index improved 0.5% to 2,536.80. China’s Shanghai Composite Index was up 0.3% to 3,252.63. In the United Kingdom, the FTSE 100 increased less than 1%.
SiriusXM kicks off music companies’ earnings releases on Thursday (Jan. 30). Elsewhere, Spotify announced its fourth-quarter earnings on Feb. 4 while Warner Music Group follows on Feb. 6.
Some of the biggest streaming services in music are banding together to fight against a major piece of Canadian arts legislation – in court and in the court of public opinion.
Spotify, Apple, Amazon and others are taking action against the Canadian Radio-television and Telecommunications Commission (CRTC)’s 2024 decision that major foreign-owned streamers with Canadian revenues over $25 million will have to pay 5% of those revenues into Canadian content funds – what the streamers have termed a “Streaming Tax.”
Those funds will go towards established organizations like the non-profits FACTOR Canada and Musicaction, which financially support thousands of musicians and music companies across the country, and which have seen their own resources dramatically drop due to reduced contributions from private broadcasters. It will also go to funds supporting radio and local news.
Trending on Billboard
The CRTC decision was one of the biggest Canadian music stories of last year, and legal challenges from those services, as well as the Motion Picture Association – Canada (which includes Netflix, Disney, Prime Video and the major U.S. producers and distributors of movies and TV), have pushed it into 2025. The courts have paused the payments until the appeal is heard by the Federal Court of Appeal in June of this year.
That pause has already put at least one fund under immediate duress. The Indigenous Music Office had been directed by the CRTC to launch an Indigenous Music Fund with resources from the streamers’ base contributions, but the delay impedes the IMO’s ability to start the new fund.
The conflict over the regulation is turning into a major struggle, one that illustrates the massive changes and challenges that Canadian music is facing in an increasingly digital landscape. It’s a modern wrinkle to a debate that has spanned decades in Canadian music and media.
“At the base of it, the streamers are questioning the validity of CanCon policies,” says Leela Gilday, musician and board chair of the Indigenous Music Office.
The battle isn’t only happening in court, but in online petitions, political speeches and in Instagram posts from one of Canada’s most successful musicians.
“The Canadian government’s new music streaming tax is going to cost you more to listen to the music you love,” says Bryan Adams in a video shared on Instagram.
The “Summer of ‘69” singer, also a noted critic of Canadian Content regulations, has joined a lobby group called DIMA (the Digital Media Association) in publicly arguing against the regulation. DIMA, which represents Amazon, Apple, Spotify and YouTube, launched a campaign last fall titled “Scrap the Streaming Tax.” The campaign warns consumers that the mandated payments “could lead to higher prices for Canadians and fewer content choices” as a result of increased subscription fees.
But many within the industry have welcomed the regulation, including the membership at CIMA, the Canadian Independent Music Association.
“The question for tech companies who are making money in Canada is: is it appropriate for them to contribute to the Canadian music ecosystem?” asks Andrew Cash, president of CIMA.
Head here for much more on this story.
—Rosie Long Decter
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Canadian Music Industry Leaders Lay Out the Issues That Will Define 2025
As the music industry ramps up in the post-holiday break, the agenda is being set. A number of issues have revealed themselves as the big conversations of 2025: AI, arts funding, government policies amidst uncertainty in Ottawa, support of independent promoters and venues, mental health, the divestment of DEI budgets, and many more.
Billboard Canada gathered 10 music industry authorities from music grant FACTOR, the Canadian Independent Music Association (CIMA), Music Publishers Canada and many more to talk about the biggest challenges and opportunities facing Canadian music this year.
Here are just a few highlights:
“For the Canadian-owned sector, the ability to compete in a functioning market is paramount,” says Andrew Cash, president and CEO of CIMA. “However, market concentration among the large foreign-owned multi-nationals labels and tech platforms is now at over-reach. That is why CIMA lodged an official complaint with Canada’s competition bureau after TikTok walked away from its negotiations with Merlin. And it is why independent trade associations in Europe and Australia are raising serious concerns after Universal’s recent purchase of Downtown Music.”
“One of the biggest challenges facing the industry this year will be the divestment of DEI budgets, which have been a big part of the reason we have seen such great diverse talent enter the industry over the last five years,” says Keziah Myers, executive director of ADVANCE – Canada’s Black Music Business Collective. “Managing the shift away from Diversity, Equity, and Inclusion (DEI) and reminding the industry that Equity-focused processes should be where their efforts are will be a challenge.”
“The fundamental principles of copyright continue to be challenged by artificial intelligence and the platforms that exploit it,” says Jennifer Brown, CEO of SOCAN. “Canadian music creators stand to lose more than 20% of their annual revenue to generative AI platforms by 2028 if safeguards aren’t put in place to protect their copyrights.”
Read the whole roundtable conversation here.
—Kerry Doole and Richard Trapunski
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Big Wreck Named Record Store Day Canada Ambassadors for 2025
Big Wreck have been named 2025 Record Store Day Canada ambassadors. The Canadian rock band will also be releasing their 2012 album Albatross on vinyl for the first time in deluxe 2xLP limited-edition featuring live and unreleased music as a Record Store Day exclusive. The album was certified Gold and was their biggest hit since In Loving Memory Of… in 1997 and its big shiny rock radio staple “That Song.” The title track of Albatross has also gone Platinum.
“It’s a great honour for Big Wreck to be Record Store Day Ambassadors,” says Big Wreck leader Ian Thornley. “We grew up going to record stores and building our vinyl collections and it means a lot to us to continue the tradition. It’s especially exciting to be putting Albatross out into the world for the first time on vinyl. That record holds a special place.”
Big Wreck succeeds another popular Canadian rock band of the era, The Tragically Hip, who were last year’s ambassadors. This week, Post Malone was named 2025 Record Store Day Ambassador for the U.S.
Head here for a list of participating Record Store Day Canada stores.
—Richard Trapunski
Last Week: A Closer Look at Canada’s Export Power
An upcoming Michael Jackson biopic is delayed due to a recently-revealed, decades-old legal agreement barring any portrayal of the family of one of his abuse accusers, according to a report by the news site Puck, requiring costly re-shoots of key scenes.
Michael – a musical biopic from director Antoine Fuqua starring Jackson’s nephew Jaafar Jackson in the title role – was delayed in November by studio Lionsgate, pushing the movie’s 2025 release back from April to October. No explanation was offered at the time.
Now, according to the Thursday report by Puck, there’s an answer: Filmmakers have been forced to scrap key portions of the movie because they would potentially violate a legal contract reached with the family of Jordan Chandler, a then-13-year-old boy who accused the superstar singer of molestation in the 1990s.
In the agreement, Jackson’s team reportedly promised not to dramatize the Chandlers in any capacity. That’s a huge problem, according to the report, because the Michael script portrays Jackson as a “naïve victim of the money-grubbing Chandlers” and features a scene of the boy’s father “threatening to leverage his son’s accusations to ‘destroy’ his ex-wife and Jackson’s career.”
A representative for the Jackson estate did not immediately return a request for comment on Friday.
The existence of the agreement with the Chandlers was not disclosed to filmmakers until after shooting was completed on the $150 million film, according to Puck. Estate executor John Branca reportedly informed producers about the problem around the time that the Financial Times reported in September that the estate had paid out hush-money to other accusers in never-before-reported settlements.
The estate is reportedly funding the necessary re-shoots to the movie, and the filmmakers will seek Lionsgate’s approval for a revised script and shooting strategy for “as early as this week.” Lionsgate is reportedly “hopeful” about the October release date and producer Graham King is “confident that his team can fix the movie.”
A source with knowledge of the film’s production told Billboard on Friday that re-shoots are already scheduled and that the movie’s ultimate release is not in jeopardy, but declined to go further into details.
Jackson, who died suddenly in 2009, was never convicted or held legally liable on any accusation of child molestation, but is still dogged by such allegations. Two men, Wade Robson and James Safechuck, continue to claim Jackson sexually abused them as children, spending the last decade pursuing civil lawsuits. And their allegations were amplified in 2019 by HBO docuseries Leaving Neverland, which laid out their claims in disturbing detail.
The Jackson estate has always vehemently denied all such claims, pointing out that the singer was acquitted in a 2005 criminal trial and arguing that his accusers are simply seeking monetary gain from an artist who cannot defend himself because defamation law does not extend to dead individuals.
The allegations have not dampened the value of Jackon’s legacy. Though the estate was nearly $500 million in debt at the time of his death, it has since generated billions from royalties, theatrical productions and other revenue streams – including a recent $600 million deal to sell half of his music catalog to Sony Music.