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Super producer Benny Blanco sold a package of publishing and performance copyrights to Litmus Music, the private equity-backed music rights company run by industry veterans Hank Forsyth and Dan McCarroll, both groups said on Wednesday (June 28).
Litmus said the acquisition includes Billboard Hot 100 No. 1’s like “Diamonds,” recorded by Rihanna, “Moves Like Jagger” recorded by Maroon 5, “Love Yourself” recorded by Justin Bieber, and “Señorita,” recorded by Shawn Mendes & Camila Cabello, plus “Eastside,” recorded by Blanco, Halsey & Khalid, “Roses,” recorded by Blanco and the late Juice WRLD featuring Brendon Urie, and others.
Terms of the deal were not disclosed.
Investor interest in music copyrights remains at an all-time high, and while career-spanning catalogs from artists like Bruce Springsteen and Bob Dylan have fetched among the highest reported sums, Blanco, 35, is among a growing cadre of younger producers, artists and songwriters who are electing to sell some of their copyrights while they are still actively making music.
This is the second rights sale Blanco, whose full name is Benjamin Joseph Levin, has done in recent years. In 2019, he sold Hipgnosis partial rights to some 90 songs, including his writer’s share in “Castle on the Hill,” which Blanco co-wrote and co-produced with Ed Sheeran.
A 2013 winner of the Hal David Starlight Award by the Songwriters Hall of Fame and multi-time recipient of BMI‘s songwriter of the year award, Blanco said his longstanding relationship with Litmus’s Dan McCarroll was the reason he chose them to handle these rights.
McCarroll, Litmus co-founder and chief creative officer, and Blanco met when the creative was 17 and McCarroll was running East Coast creative for EMI Publishing. The pair have since worked together on projects involving Keith Urban, Gym Class Heroes and Katy Perry, among others.
“I first crossed paths with Dan as a young teenager,” Blanco said in a statement. “I feel like we’ve had so many dinners and conversations that have gone beyond music and they really helped guide and shape me into the person I am today. There’s no better home I could imagine for such a meaningful part of my catalog.”
McCarroll speaks of the pride of watching him become the “incredible writer and producer he is today. We at Litmus are honored to work with him now to support part of his incredible catalog.”
Launched in August 2022, Litmus has $500 million in backing from Carlyle Global Credit, and aims to buy the publishing and recording rights of artists from a range of genres. In December, Litmus announced it bought Keith Urban‘s master recordings for an undisclosed sum. Forsyth previously held positions as executive vp at Warner Chappell and GM of Blue Note, while McCarroll served as president of both Warner Brothers Records and Capitol Records.
Jarred Arfa has been named executive vp/head of global music for the newly-rebranded agency Independent Artist Group (IAG), the company’s newly installed CEO Jim Osborne announced on Tuesday (June 27).
The launch of IAG was formally announced last week with Osborne at the helm. The company was formed via a merger of two agencies: Agency For the Performing Arts (APA) and Artist Group International (AGI), where Arfa served as COO.
At IAG, Arfa will oversee the day-to-day operations of the combined AGI and APA music departments, reporting to Osborne. As announced last week, Arfa’s father, AGI founder/CEO Dennis Arfa, will serve as chairman of IAG’s music division while Marsha Vlasic will serve as vice-chair.
The deal was made possible thanks to a 2020 investment in APA by billionaire Ron Burkle, whose Yaicapa Companies has long been an investor in AGI.
“Jarred has been instrumental in getting this partnership to the finish line,” says Osborne. “We have tremendous confidence in him to not only lead the day-to-day operations of our music department but to help us grow it from here,”
At AGI, Jarred’s responsibilities included business development, legal, financial and corporate reporting; overseeing artists’ tour contracts; VIP ticketing; and sponsorship and brand partnerships. He will continue to do the same at IAG, with the added help of the infrastructure inherited from the full-service APA, which in addition to music and comedy touring also includes legal, tour marketing, branding and sponsorships departments.
“We have relied on Jarred on so many levels over the years to not only oversee the operations of AGI but to also assist us in furthering our investments in the music business,” said Burkle in a statement.
Jarred will continue to work closely with Billy Joel’s team, assisting on the singer-songwriter’s record-breaking residency at Madison Square Garden along with his other tour dates.
“Jarred has been an invaluable asset to us on so many levels,” added Vlasic. “We have tremendous confidence in him to lead our efforts to integrate and grow our combined music assets enabling our artists and agents to thrive.”
While at AGI, Jarred was an instrumental advisor in the company’s sale to The Yucaipa Companies in 2012 and later served as a conduit for Yucaipa’s investments in K2 and Danny Wimmer Presents.
“I am excited to work with the outstanding young team of APA agents who have been thriving, particularly in urban, as we combine into one cohesive unit,” Jarred said. “I look forward to further offering crossover opportunities for our artists that Jim Osborne and his team have done such an amazing job at. Our plan is to grow the department with a quality over quantity ethos.”
Jarred began his career at Robert Silverman’s CKX Inc., where he acted as director of Muhammad Ali Enterprises and director of operations for Elvis Presley Enterprises.
Neon 16’s co-founder/CEO Lex Borrero and Ntertain chairman Tommy Mottola teamed up to acquire Arro Media, a music marketing and social media agency that boasts a roster of clients like Adidas, Red Bull, NFL, XBOX, Bacardi, The Latin Grammy Cultural Foundation and more.
Founded by Cristina Arcay, the company will be rebranded as AM16.
“We have built a growing agency that will redefine how brands connect their marketing and advertising to the Latin culture because we live it day in and day out,” said Borrero and Mottola in a press release. “Our team has a finger on the pulse of trends, uniquely positioned to spot them before they happen, across music, television and film. Today’s announcement further differentiates our capabilities from competitors and will bring an even more comprehensive offering to our clients and partners.”
AM16 will find the intersection between music, entertainment and culture. Together, they will bring Arro’s capabilities with Neon16’s “innovative approach to cultural storytelling and experiential activations,” they said. The merger will include brand strategy and partnerships, product development, content production, music marketing, social media management, digital marketing, public relations, creative design services and experiential events.
“Launching AM16 agency represents an exhilarating new chapter in my career and the future of Arro,” said Arcay, who is appointed as co-president. “As a Latina entrepreneur, being able to lead and learn alongside our new partners represents a huge opportunity to reshape the industry by championing diversity, elevating ideas and fostering cultural movements that resonate with audiences worldwide.”
Chief marketing officer and co-president Gerry Rojas added, “I feel empowered and excited to be working in a Latino-owned agency where we’re reimagining how brands and artists tell their stories authentically, while raising the Latin cultural currency and creating a true, positive impact rooted in music and culture.”
Neon16 works with A-listers such as Tainy, Thalia, Juan Luis Guerra and Danna Paola. Earlier this year, the company also played a key role in the Netflix Original series La Firma — a Latin music competition that sought to sign the next big Latin music star, featuring Tainy, Rauw Alejandro, Nicki Nicole, and Lex Borrero.
Borrero and Mottola also executive produced Thalia’s music docuseries, Thalia’s Mixtape, via Ntertain on Paramount+.
Billboard is introducing a peer-voted award to run alongside its annual R&B/Hip-Hop Power Players list of the genres’ most influential executives. This new R&B/Hip-Hop Power Players’ Choice Award will honor the executive in the genres whose peers believe has had the greatest impact across the music business over the past year, from recording and publishing […]
Shares of Cumulus Media gained 9.7% this week, the leading stock in the Billboard Global Music Index and one of only four stocks in the 21-company index to end in positive territory Friday (June 23).
Overall, the Billboard Global Music Index declined 3.5% to 1,287.41 — more than double the 1.4% declines of the S&P 500 and Nasdaq. Music stocks were more in line with the Nasdaq when the overpowering effects of a small number of tech companies are removed, however. That’s because a few powerhouses — such as Microsoft, Apple, Alphabet and Amazon — often account for a large fraction of the Nasdaq’s gains. To that point, QQQE, an exchange-traded fund that gives equal weight to 100 Nasdaq stocks, declined 2.9% this week.
In the United Kingdom, the FTSE 100 declined 2.4%. South Korea’s KOSPI index fell 2.1%. Central banks in England, Turkey and Norway raised interest rates this week. Investors can reasonably expect more rates hikes in the United States, too. Federal Reserve chairman Jerome Powell said on Wednesday the central bank may continue to raise rates — there have been 10 since March 2022 — but “to do so at a more moderate pace.” When central banks raise interest rates, stocks tend to fall because businesses and consumers are expected to cut back on spending and higher rates make bonds relatively more attractive to stock returns.
Cumulus Media improved to $3.40 a week and a half after the company announced it will sell about 1.75 million Class A common shares — nearly 10% of outstanding shares — at $3.25 per share in a modified Dutch auction that closed on June 9. While the sale will gross about $5.7 million, not including fees and expenses, the final result was well below the company’s goal to sell up to $10 million of shares as part of a previously announced $50 million share repurchase plan.
Shares of French music streaming company Deezer gained 3.6% to 2.32 euros ($2.54), bringing the stock’s year-to-date loss to 20.5%. U.S. streaming company LiveOne gained 3.3% to $1.58. Year-to-date, LiveOne has gained 145.3%. The only other company with a week-over-week improvement was South Korea’s HYBE, which improved 1.2% to 301,000 KRW ($236.91).
The other three Korean music companies declined this week: SM Entertainment and YG Entertainment each fell 5.6% and JYP Entertainment dropped 3.5%. Still, K-pop has been a resounding success for investors in 2023. Led by JYP Entertainment’s 93.7% year-to-date gain, the four Korean companies’ stocks have risen an average of TK% in 2023.
One company, Anghami, was unchanged and the index’s other 16 stocks were in negative territory this week. MSG Entertainment had the Billboard Global Music Index’s largest decline after dropping 17.1%. Sphere Entertainment Co., which spun off MSG Entertainment in April, intends to sell part of its 33% stake in MSG Entertainment. The news dropped the live entertainment company’s share price 12.1% on Wednesday. At Friday’s closing price, Sphere Entertainment’s sale of 5.25 million shares would gross about $170 million that could help fund the state-of-the-art Sphere at The Venetian Resort in Las Vegas that’s set to open in September.
Rihanna’s lingerie brand, Savage X Fenty, has a new CEO: Hillary Super, former CEO of Anthropologie Group and a veteran of such apparel companies as Guess, American Eagle and Gap. According to various reports, Vogue Business, Rihanna will remain the company’s executive chairman. Explore Explore See latest videos, charts and news See latest videos, charts […]
Sunset Blvd. Records hired Tim Devine as the label’s new head of A&R. He’s already signed a trifecta of ’90s alt-rockers to the imprint: Everclear, Fastball and Butthole Surfers. Devine is perhaps best known for his integral role in reviving Bonnie Raitt’s career at Capitol Records — read about their Nick of Time triumph here — and for A&R’ing Brandi Carlile at the dawn of her career, as well as his work with Blind Melon, Katy Perry and Train. He began his career in product management at Warner Bros. Records before taking on an artist development role at MCA Records and later as vp of A&R at Capitol, where he signed Raitt and worked albums by the Beastie Boys and Paul McCartney, among others. He recently served as West Coast GM of Columbia Records. “Everyone is taking my calls,” Devine says of his new role, “and this position fits my skill set like a glove. I look forward to building the next chapter of SBR’s success.”
Valérie Bernard joined Deezer earlier this year as its chief human resources & sustainability officer. In her Paris-based role, the HR veteran is tasked with all things talent acquisition, employee development and performance management, along with developing initiatives to match the company’s environmental, social and governance goals. She arrived at the streaming service from Richemont Group, and earlier was human resources director of Canal+ International. Bernard reports directly to Deezer CEO Jeronimo Folgueira, who says she’ll “be a key player in continuing to build an open, inclusive and vibrant culture at Deezer.”
SiriusXM and Pandora have promoted Rachael Spangler to head of music talent relations and Azu Olvera to head of Latin music talent booking. Spangler and her team of eight are in charge of booking artists for interviews, live performances and other various programming and events for the satellite radio giant. She began her career at Epic Records. Olvera recently installed a massive feather in her cap for her role in opening the new SXM Miami studio and office, and the launch of the ‘Hits Uno’ channel. “We’re not thinking of Latin as a backseat but as a driver of success and engagement,” she told Billboard of the launch, which included an intimate performance by Carlos Vives, an interview with Pitbull and a Becky G town hall-style conversation.
Warner Chappell Music upped Wallace Joseph to senior vp of A&R and Jon Chen to vp of A&R. Joseph is best known for his work with some of R&B and hip-hop’s biggest talents, including Summer Walker, Wale, Ari Lennox, JetsonMade and Tay Keith. Chen has fostered a diverse roster of boundary-pushing music makers, including Ian Kirkpatrick, Benson Boone, BEAM, Sir Nolan and Ashnikko. The two will continue to report to Ryan Press, president of North America, to continue to expand WCM’s roster. –Kristin Robinson
Jan Fischer was promoted to CEO of EMP, the European specialty music and entertainment merchandise e-tailer acquired by Warner Music in 2018. Fischer has been helping to lead the company, where he has been both CFO and COO, since the departure of Ernst Trapp last month. Fischer has been part of the EMP team since 2013 and is based out of Lingen, Germany, reporting to Karl Walsh, executive vp and head of global commerce for WMG. In recent years, the standalone unit has worked with acts including Panic! At the Disco, Metallica and Guns N’ Roses, along with major brands like Disney and Marvel, to launch a network of merch websites that serve millions of customers.
Veteran music and tech PR executive Jason Roth is Wasserman Music‘s new vp of communications, overseeing the fast-expanding talent agency’s comms strategy and industry relations, among other duties. Roth has held senior roles at a who’s-who of media and tech companies, including SiriusXM, Pandora, Hewlett-Packard, Apple and Capitol Records. At the Cupertino outfit, Roth led global communications during a major expansion of iTunes and the launch of the App Store. His work at Capitol included publicity wins for The Beatles, LCD Soundsystem and Liz Phair, among others. He’s also a writer, with clippings from numerous publications including Spin, The Chicago Tribune and NPR Music, where he profiled the J. Geils Band’s signature hit.
Marguerite Jones was named vp of A&R at Republic Records, where she will oversee the overall direction of A&R strategy and work on projects for artists across hip-hop, R&B and pop. Based in Los Angeles, Jones joins the UMG powerhouse after a productive four years at Sony Music’s RCA Records, where she rose from intern to manager of A&R and singed Latto in the process. “MJ has established herself as one of the industry’s most prescient and forward-thinking A&R executives,” said label co-president Wendy Goldstein. “She has been instrumental to culture-defining breakout talent, and her ability to spot greatness is already proven.”
Also this week… Sony Music hired BPI’s Geoff Taylor for a first-of-its-kind AI role, TikTok COO V. Pappas stepped down and Tina Davis was named president of EMPIRE.
CAA has promoted Yasi Agahnia, Logan Binstock, Abe Coelho, Ryan Quint and Karen Schillinger to agent roles across various division, and Erik Toral to executive in global client strategy. In terms of disciplines, Agahnia (Los Angeles) works in the music touring area’s private events division; Binstock (LA) works with high-profile agent Christian Carino to create new business opportunities for their clients; Coelho (LA) is in the media finance department, specializing in independently financed films; Quint (LA) works in the comedy touring department and reps Craig Ferguson, Ron White and Nurse Blake, among others; and Schillinger (Nashville) is in the music touring division. As for the LA-based Toral, he will work on creating cohesive brand strategies and launching talent-led business endeavors for CAA talent. All six of the newly promoted team members come from CAA Elevate, the agency’s overhauled agent trainee program.
Anna Lisle joined Alternate Side Management, the US-based full-service management company that’s home to leading LGBTQ+ artists Meet Me @ The Altar and Cavetown. Lisle arrives from 7DS Management and brings artist Summer Salt to ASM and will take on Madds Buckley and co-manage Roekapara and Daisy Grenade. Alternate Side also recently hired John Helps, a day-to-day manager based in London and a member of post-rock band Maybeshewill. Helps works under artist manager Cory Hajde.
Michael Sherman was promoted to vp of business development at music marketing firm feature.fm, where he’ll zero in on emerging trends, conduct market research and lead negotiations with potential partners. In his previous role as director of biz dev, Sherman “spearheaded strategic initiatives to drive the company’s growth and expand its reach in the music industry,” the company said. Sherman is based in Los Angeles.
DICE appointed music industry veteran Caron Veazey to its board of directors. Veazey founded Something In Common, a management and consulting agency specializing in music, film, art and culture. Previously, she managed Pharrell Williams for nearly a decade.
Nashville Bites: Grace Watson joined Black River as senior director of streaming and revenue. She arrives from Universal Music Group’s Nashville-based Capitol Christian Music Group, where she served as manager of commercial partnerships … Warner Chappell Nashville A&R manager Bethany Mako returns to the company, where she formerly interned. Mako was working as Songs & Daughters A&R manager … Shore Fire Media promoted Nashville-based Nick Jurich to junior account executive from publicity assistant. The division’s current clients include LANCO, Dillon Carmichael and Chase Matthew … Nashville-based Gibson Brands promoted Beth Rasnick to chief of staff to the CEO. Her previous roles in the company include director of strategy and projects. –Tom Roland
BMG has acquired a major interest in Paul Simon‘s portion of the Simon & Garfunkel catalog. This sale includes the Grammy winner and two-time Rock & Roll Hall of Fame inductee’s royalty income for all of Simon & Garfunkel’s recorded music as well as his neighboring rights income to that music as well. Simon & […]
MusiCares announced the launch of Humans of Hip Hop on Thursday (June 22). The program is focused on providing resources tailored to the needs of the hip-hop community nationwide with an initial focus on eight key cities – Atlanta, Chicago, Detroit, Los Angeles/Compton, New York, Oakland, Philadelphia, and Washington D.C.
“Like so many other communities post-pandemic, the hip hop community is in need of support,” Rico Love, the Miami-based chair of the Recording Academy’s Black Music Collective, said in a statement. “I’ve heard my community voice their needs. With MusiCares and Humans of Hip Hop, I’m excited to work directly with artists and change-makers to get people the services that will really make a difference in their lives.”
A MusiCares spokesperson clarified that while the Black Music Collective played a key role in the creation of this program, the program is open to all members of the hip-hop community. “The Humans of Hip Hop program was created to achieve greater reach within a specific genre of music. Any person who identifies as part of the hip-hop music community can participate, regardless of race, age, gender, location or music profession. MusiCares is trying to reach people making hip-hop music and make sure MusiCares is addressing their needs.”
Humans of Hip Hop will bring programming to key cities over three years. The focus is on fostering long-term relationships to continue building MusiCares programming that is responsive to the needs of the hip-hop community.
Between August 2021 and July 2022, one-fifth of all MusiCares clients identified as Black music professionals. A MusiCares spokesperson says: “This statistic demonstrates that MusiCares serves a significant portion of clients from the Black music community. The program’s goal is to gain even further awareness for MusiCares’ services within a specific genre, open to all races.”
MusiCares will add a full-time project lead for Humans of Hip Hop to serve as the day-to-day focal point for building inroads and maintaining partnership with the hip-hop community.
“MusiCares is grateful to our sponsors and artist advocates for helping us kick off this program,” Laura Segura, executive director of MusiCares, said in a statement. “This work will allow us to zero in on the unique needs of the community and continue our work creating meaningful services driven by leaders and advocates of hip-hop.”
“We are thrilled to see this important initiative for our music people in the hip hop community come to life,” Harvey Mason jr, CEO of the Recording Academy and MusiCares, said in a statement. “Providing the resources and services needed will ensure the community knows their voices are being heard.”
Ticket marketplace Vivid Seats is the program’s supporting partner. Vivid Seats has partnered with MusiCares since 2020, sponsoring COVID-19 and natural disaster relief efforts.
To be eligible for MusiCares assistance, applicants must be able to document employment history through a minimum of five years employment in the music industry or six commercially released recordings or videos. MusiCares may grant short-term financial assistance for personal or addiction needs that have arisen due to unforeseen circumstances. Funding may also be awarded to help with needs such as rent, car payments, insurance premiums, utilities, medical/dental expenses, psychotherapy, addiction treatment, sober living, and other personal expenses.
For more information about the Humans of Hip Hop program, visit musicares.org.
SRMG, the largest integrated media group from the Middle East/North Africa region, has partnered with Billboard to launch Billboard Arabia. The newly launched platform is dedicated to celebrating artists with Arab roots by spotlighting their music and promoting personal stories on a global stage.
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Billboard Arabia aims to be the premier global destination for artists with Arab roots – bringing the latest releases, reviews and interviews from the biggest names, exclusive coverage of regional and global events, original photography and special video content together in one centralized location. Billboard Arabia will launch several charts over the next year, utilizing data from the top digital streaming platforms such as Spotify, Anghami, YouTube and others, to highlight the artists and songs driving the global and regional music industry.
Billboard Arabia will celebrate and amplify the work of Arab artists for a global audience by republishing content across Billboard’s digital products. It will also host the Billboard Arabia Music Awards, as well as live concerts, activations, and regional and international events to celebrate all music genres and the artists that are inspiring innovation in the industry.
According to the International Federation of the Phonographic Industry, MENA (Middle East/North Africa) is the fastest-growing music region in the world. In 2022 alone, a handful of rising Arab artists garnered more than 1 billion streams, demonstrating the significant potential of the music market in the MENA region.
“The music scene in the MENA region is rapidly transforming,” said Jomana R. Al-Rashid, CEO of SRMG. “However, there is currently no dedicated platform to spotlight and tell the stories of the Arab artists leading innovation in the global music industry. Our partnership with Billboard will help fill that void in the market. Billboard Arabia is more than just a digital platform. It will be the premier destination to celebrate the Arab music community and empower the business of music through data-driven charts, live concerts and awards. Our vision at SRMG is to ensure that creators and audiences have increased access to high-quality, original content and impactful experiences.”
“We are excited to join forces with SRMG to launch Billboard Arabia,” said Mike Van, president of Billboard. “Billboard has a strong legacy of recognizing and amplifying artists across genres, languages, and cultures with a mission to share the power of music with new fans everywhere. SRMG’s reach and access in the region coupled with our experience will ensure artists with Arab roots are heard around the world.”
Billboard Arabia was announced Wednesday (June 21) from the SRMG Beach at the Cannes Lions International Festival of Creativity. As part of the announcement of Billboard Arabia, several artists from MENA are joining SRMG in Cannes to celebrate the diversity of sounds from the region, including performances from Elyanna, Felukah, Kouz1, DJ Outlaw, Jeed, Moayad Al Nefaie, Flipperachi, Meshaal and DJ Rodge.
Billboard Arabia is now live across Twitter, Instagram, Facebook and YouTube, all at the @billboardarabia handle.