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Timothy Xu is the new chairman and CEO of Universal Music Greater China (UMGC).
With effect from Monday, Sept. 4, the veteran executive takes the reins of Universal Music Group’s Greater China division, which covers Mainland China, Hong Kong and Taiwan.
As head of the biggest music company’s business in the world’s most populous market, Xu wields a resume stacked with major label and indie experience.
He joins UMGC from Taihe Music Group, the leading independent music company in China, where he served for the past five years as president and CEO.
Before that, he led Sony Music’ Greater China activities as chairman and CEO, from 2012-16. And earlier, he had roles with EMI Music, EMI Music Publishing China, and Warner Music China, having kicked off his career in 1992 with China National Publications Import & Export Corporation (CNPIEC).
Xu’s appointment follows the retirement of longstanding chairman Sunny Chang earlier in 2023.
“I am thrilled to welcome Timothy to lead our operations in Greater China,” comments Lucian Grainge, chairman and CEO of Universal Music Group in a statement.
“He’s a real music exec, given his deep experience generating creative and commercial success in the region. I’m confident Timothy be instrumental as we continue to drive growth in the exciting and vibrant Chinese music market.”
Adds Adam Granite, UMG’s executive VP, market development, “Having worked together in the past, Timothy’s unique and versatile experience across the sector will bring new opportunities to expand all areas of our business operations within Greater China, whilst also accelerating our focus on introducing Chinese music, culture, and artist talent to new markets and audiences around the world.”
In 2021, UMGC became the first major music company to establish multiple frontline label operations across China with the launch of Republic Records China, and re-launch of historical Chinese labels Polygram Records China and EMI China alongside Universal Music China.
Those moves would reinforce Universal Music’s “commitment to accelerating and introducing the next wave of Chinese music talent to the world across a variety of genres,” the company said in a press release at the time.
Thursday’s announcement that AMC Theatres is partnering with Taylor Swift to present Taylor Swift / The Eras Tour Concert Film in thousands of North American cinemas starting Oct. 13 was a blockbuster — both in terms of cultural impact and ticket sales, which broke AMC’s record for single-day advance revenue with $26 million in the first 24 hours.
And according to a new report at Puck, the unorthodox deal that bypasses traditional studios and instead release the film directly in cinemas with AMC Theatres acting as distributor came about only after discussions with traditional distributors, including Universal Pictures, broke down.
The story claims that talks with AMC Theatres began more than three months ago — while Swift was already in the midst of her smash Eras Tour in the United States and before the concert film was shot at some of the Los Angeles shows in August — after AMC CEO Adam Aron received “a call from a friend who also happened to know [Swift’s father] Scott Swift” that Team Swift was interested in talking.
Citing sources, the report states that Aron personally negotiated the deal directly with Swift’s parents, Scott and Andrea Swift, over several weeks. Among the agreed-upon terms is that 43% of the gross will remain with theaters, while the remaining 57% will be shared (in an undetermined split) by the Swifts and AMC. (Variance Films, a small sub-distributor, was reportedly hired to book the film in Regal, Cinemark and other theaters on a fee-for-service basis.) Notably, standard tickets for the film will be priced at $19.89 (plus tax) for adults and $13.13 for children and seniors (plus tax).
All theaters playing the Sam Wrench-directed film will reportedly also take all concession revenue, including any commemorative Eras Tour items. The story claims that AMC and Cinemark have also ordered four million posters to give away to fans for free, while a “small offering” of paid merchandise is planned.
Other details in the report include that theaters playing the film (which reportedly came in at a budget of between $10 and $20 million) must agree to carry it for a minimum of four weeks and can play it for as many as 26 weeks without worrying that the terms of the deal will change. Additionally, after 13 weeks, the Swifts are free to put the film on streaming services (the streaming rights are still up for grabs).
At least one traditional film studio that had discussed distributing the film with the Swifts was reportedly under the impression that the film would be a 2025 release — after the completion of the tour’s global run — but according to the story, the Swifts decided to strike while fan demand for all things Taylor was at an all-time high.
Speculation that the unusual deal could lead to similar plays by AMC and other exhibitors to act as distributors for other major concert films has been rampant, and indeed, the Puck report notes that “AMC is already talking about what other major artists might want a Taylorstyle deal” — suggesting there may be more of these to come.
Representatives for Taylor Swift and AMC Theatres did not immediately return Billboard‘s requests for comment on this story.
Spotify led a group of high-flying streaming stocks this week by gaining 14.8% to $157.54 per share, increasing its market capitalization by nearly $4 billion to $30.7 billion. The world’s largest streaming company, which boasted 220 million subscribers as of June 30, has clawed back nearly all its losses since its share price dropped 14% […]
If it’s Friday that means another spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across the music industry.
Gabrielle Peluso joined Hitmaker Distro / Hitmaker Music Group as general manager, overseeing distribution, artist development strategy and day-to-day operations for the Tony Bucher-founded music company. The 2017 and 2022 Billboard Women in Music honoree previously served as co-president of the re-launched Asylum Records, where she built up a roster that included Seddy Hendrinx, Ken the Man, Jay Loud and Detroit rapper Sada Baby. Prior to that she was vp of urban music at eOne Music, and before that a senior partner at the Kevin Liles-led KWL Enterprises. But for the first 15 years of her industry career, the NYC-based Peluso worked at Def Jam, where she rose to general manager and guided campaigns for a superstar roster that included Rihanna, Mariah Carey, Jennifer Lopez and Frank Ocean, among others. “Her years of experience inside the major label system, to her most recent years navigating the indie space, has made her a perfect fit for this role,” said Bucher. You can reach her at Gabrielle.peluso@hitmakerdistro.com.
Virgin Music Group hired Olukorede “Kay” Ikazoboh to lead the Universal-owned artist and label services company’s expansion into Nigeria. Ikazoboh will oversee Virgin’s operations in the region from the company’s new office in Lagos. As an artist manager, Kay has worked with such artists as Odunsi the Engine and Mowalola, and she previously held several roles working in emerging markets for Warner Music Group. “Kay is known throughout Nigeria as a champion of independent labels and artist development, said Michael Roe, managing director of Virgin Music International. “Her relationships, expertise and insight into the local market make her the perfect executive to lead our operations in this very important music market.” Virgin has had a presence on the continent since the 2021 acquisition of South African indie distributor Electromde, and last year the company launched a dedicated label services division there with more than 50 label partners.
Joel Klaiman
Music industry mainstay Joel Klaiman officially cut the ribbon on ASCEND4M, his new multi-discipline agency focusing on music, media, marketing and management, in addition to a record label. ASCEND4M’s roster already includes pop band North Star Boys, singing sisters Sorelle and singer-songwriter Casey Baer. Klaiman most recently served as president of HitCo Entertainment, the label launched by Antonio “L.A.” Reid and Charles Goldstuck in 2018 and sold to Concord last year. During its short life, HitCo was home to Big Boi, Dinah Jane, Saint JHN and Yella Beezy, among other artists. Prior to HitCo, Klaiman was a repeat Power 100 list honoree during a six-year run as executive vp and general manager at Columbia Records, where he was responsible for overseeing the label’s marketing, digital marketing, promotion, publicity, branding, sync licensing, video production and content development departments. Prior to Columbia, Klaiman was evp of promotion and artist development at Republic Records for six years, working with such unknowns as Taylor Swift, Nicki Minaj, Drake and Amy Winehouse.
UMG Nashville promoted Vipin Reddy to vp of streaming. Reddy, who has been part of the label group’s streaming team since 2018, will now lead the department, overseeing DSP relationships, as well as global audio and video streaming strategy for all UMGN artists. Prior to joining UMGN, Reddy was part of the UMG global streaming marketing team; most recently, he was point on UMGN artist strategy with Apple Music and Pandora. “From the day he joined the company, Vipin has been an integral part of the streaming team,” UMGN evp/COO Mike Harris said. “His deep knowledge of the streaming business has been vital to UMG Nashville’s success.” –Jessica Nicholson
Following the news that Anya Grundmann will step down as senior vp of programming by year’s end, NPR announced this week the unification of its content divisions under one roof. At the top of this structure will be a chief content officer, who’ll oversee all of NPR’s editorial and content operations. Edith Chapin, the public radio giant’s svp of news, will be interim CCO until an executive search can be wrapped. Reporting to the CCO will be vp of visuals and music Keith Jenkins, vp of content (cultural programming) Yolanda Sangweni and vp of content operations Sharahn Thomas, among others. NPR CEO John Lansing said in a staff memo that there will be “no addition or subtraction to headcount” with the implementation of the new structure.
Gibson promoted Mat Koehler to vice president of product — an expansion of his previous duties as head of product development that adds instruments and sound to his remit. That means he’ll be leading research, design and product development for amplifiers and effects across all Gibson family brands, including, Mesa Boogie, Maestro and KRK. Gibson Brands president and CEO Cesar Gueikian called Koehler, who hails from Les Paul’s hometown of Waukesha, Wisconsin, an “extraordinary custodian of our iconic past” and a “steward of our future.”
Danny Wimmer Presents, the leading independent promoter behind Bourbon & Beyond, Aftershock and other festivals, added a crop of new hires as it looks to build on 12 years of growth. Elizabeth Harsh is DWP’s new evp of brand and experience, following more than 17 years working at brands like Ticketmaster, MySpace and Disney. Johnny Firecloud, formerly of Crave and StackCommerce, assumes the role of director of digital communications. Anson Li joined DWP as the director of insights after a successful new customer campaign at Chicken Soup for the Soul Entertainment. Britten Stephenson, with a dozen years of industry experience, is the guest services manager. “These new additions will undoubtedly enrich DWP’s journey,” the company said, “furthering its dedication to curating exceptional live event experiences and building even deeper connections with fans everywhere.”
ICYMI: UK Music chief executive Jamie Njoku-Goodwin is stepping down after three years at the helm of the British music industry trade body to become director of strategy for Prime Minister Rishi Sunak … Jenn Yacoubian and Stacy Vee were appointed executive vps at Goldenvoice … Venue Coalition has hired veteran entertainment executive Steve Kirsner as vp of booking … and WMG employees have been summoned back to the office.
Range Media Partners‘ music division hired Nashville-based execs William Lowery and Shawn McSpadden. In his new role as svp, Lowery will focus on business development ventures and content opportunities. McSpadden, who joins as managing partner, will focus on growing the music division, talent roster and shared services department. Range Media works with country artists including Midland, Hailey Whitters, Stephen Wilson Jr., Ryan Bingham, Drayton Farley and Brent Cobb. McSpadden was a founding manager at Red Light Management Nashville, where for 17 years he oversaw music publishing, outside business ventures, and managed artists across multiple genres. Lowery previously launched the venture advisory firm Brigade Media Capital. Prior to forming Brigade, Lowery was a senior executive at Endeavor Content, where he ran its faith-based division and identified music and content crossover opportunities. –JR
German live promoter DEAG added a co-CEO to its leadership structure. Going forward, founder and CEO Peter L. H. Schwenkow will share duties with Detlef Kornett, who’ll continue to oversee international business affairs at the firm. Additionally, David Reinecke will take over as chief financial officer from Roman Velke, how is departing after five years in the role.
Nashville Notes: Former Billboard editor and writer Phyllis Stark joined country radio trade Country Aircheck in the newly created role of executive radio editor. She was most recently Nashville bureau chief at the now-defunct All Access, and her byline has been seen on Rare Country, Close Up, Radio-Info.com and MSN.com, among others. She’s at phyllis@countryaircheck.com … Amanda Cates left her position as head of artist services at Maverick Nashville, an artist management and artist services firm … Megan Youngblood is MCA Nashville‘s new director of promotion for the west coast. Staying in the UMG fam, she was most recently the west coast regional rep for Capitol Records Nashville.
Last Week’s Turntable: BMG’s New Legal Affairs Chief and a UMG Nashville Twofer
Refik Anadol unleashes his creative mind — with the help of AI — to render the exterior of the Sphere event space in Las Vegas for the very first time.
From Friday (Sept. 1), the Exosphere, the fully-programmable LED exterior of Sphere, is taken over by a so-called AI Digital Sculpture created by Anadol, the Istanbul, Turkey-born multi-media artist.
The immersive art project, “Machine Hallucinations: Sphere,” is a creative interpretation of humanity’s attempts to explore the depths of space, and will be visible on Sphere for four months.
It’s a two-chapter series, which, according to Sphere Entertainment Co., draws on more than 300 million publicly-available images of flora and fauna, which are presented as pigments, shapes, and patterns.
“I am extremely honored to be the first artist to utilize the exterior of Sphere,” Anadol comments in a statement. “It’s so exciting to be given such an architectural and engineering marvel as a canvas. This opportunity aligns perfectly with our studio’s long-term mission of embedding media arts into architecture to create living architectural pieces that are in constant interaction with their environments.”
Sphere is, according to its operators, a next-generation entertainment medium, covered with nearly 580,000 square feet of fully programmable LED paneling, for the largest screen of its type in the world.
Anadol’s project could be the first of many. Sphere Entertainment, the live entertainment and media company, anticipates its attraction could ”redefine the future of live entertainment,” and provide an “unparalleled canvas” for artists, partners and brands, including music companies, to showcase eye-catching content.
“Through the captivating power of the Exosphere and our unwavering commitment to showcase both art and brands on Sphere’s exterior,” comments Guy Barnett, senior vice president, brand strategy and creative development, Sphere Entertainment, “we will forever change the way artwork and commerce co-exist.”
Moving forward, the Nevada site will host original Sphere Experiences from leading Hollywood directors; concerts and residencies major artists; and premier marquee events. Those artists include U2, which kicks off a 25-date residency Sept. 29 at the new 20,000-capacity entertainment venue, located near the Las Vegas Strip next to The Venetian.
As previously reported, U2 and others will plug into the Sphere Immersive Sound system, created in tandem with Berlin-based audio company Holoplot.
UK Music chief executive Jamie Njoku-Goodwin has announced he is stepping down after three years at the helm of the British music industry trade body to become director of strategy for Prime Minister Rishi Sunak.
A date has yet to be announced for Njoku-Goodwin’s exit from the organization, although it is expected to take place imminently. UK Music Deputy chief executive Tom Kiehl will take over from Njoku-Goodwin while the search for a new CEO is underway.
Njoku-Goodwin took over as CEO of UK Music in September 2020, succeeding Michael Dugher. Prior to joining the London-based organization, Njoku-Goodwin worked in politics, serving as a special adviser to former cabinet minister Matt Hancock and the department for Digital, Culture, Media and Sport.
The first two years of Njoku-Goodwin’s time at UK Music, which represents all sectors of the United Kingdom’s music industry, coincided with the COVID-19 pandemic and saw him campaign for government funding to help prop up the business at a time of national lockdowns and the shutdown of live shows.
In conjunction with other music trade groups, UK Music also lobbied the government to remove barriers to touring in Europe brought about by the country’s exit from the European Union. Those barriers — many of which still exist — include new restrictions for U.K. artists and crews entering Europe (and vice versa for European acts playing the United Kingdom) and increased production costs due to cabotage, carnets, visa and work permit charges.
A recent focus for UK Music has been ensuring that creators and rights holders receive effective protection from artificial intelligence’s (AI) transformative impact on the industry.
Last year, Njoku-Goodwin strongly criticized what he referred to as “dangerous and damaging” plans by the British government allowing AI developers to freely use copyright-protected works, including music, to train their systems without the need for creators and rights holders to provide permission.
Speaking out against the proposals, which were met with a fierce backlash from across the music and creative industries, Njoku-Goodwin — who sits on the board of the London Philharmonic Orchestra — said they “would give the green light to music laundering.”
After further consultation with representatives of the music and media industries, the government announced that it was shelving the proposed text and data mining exceptions in February.
Other issues that UK Music has campaigned for in the past three years include music education and improving diversity and inclusion throughout the industry. The organization has also continued to regularly produce reports on the health of the U.K. music business, including last month’s “Here, There and Everywhere” assessment of the country’s live sector.
“The U.K. music industry is one of this country’s great national assets, and it’s been a privilege to represent it for the past three years,” said Njoku-Goodwin in a statement announcing his departure. “I’m delighted our sector is in much better shape now to take on the challenges and opportunities it faces in the future.”
Paying tribute, UK Music chairman Lord Watson said Njoku-Goodwin had “played a key role” in helping the industry get back on its feet after the struggles of the pandemic and called him “a passionate advocate for our sector.”
It’s early afternoon on Friday (August 25), the last day of class for students at this year’s No Label Academy (NLA) music business program. IDK, his team and I are driving to Harvard Medical School for two lectures on mental health. He maintains a calm demeanor, and is focused and pensive, as he prepares for one last session of helping his nearly two dozen students realize their personal and artistic potential.
“I felt like there was a lot of people like me who may not have the academic accolades but have the capability to be successful in music,” IDK tells Billboard in the backseat of a black Chevy Suburban. “They just needed the confidence.”
Two years ago, the Maryland rapper-producer and entrepreneur (born Jason Mills) and Boston-based non-profit No Label sought to break down the barriers to entry into the music industry by holding their first-ever No Label Academy. The nine-day seminar, held at Harvard University offers advice, resources, job opportunities and internships surrounding various topics in the music industry, and is “aimed at democratizing and improving opportunities for students from systemically disadvantaged backgrounds interested in careers in the music business,” a press release explains. The program is open to applicants ages 18 to 25, regardless of collegiate status, and also includes wellness exercises like morning workouts, meditation and daily affirmations.
This year, NLA returned for its second iteration — and invited Billboard to sample the experience, paying for this reporter’s lodging and transportation to visit the academy. Due to the busy schedules of IDK and No Label’s co-founders Marcelo Hanta-Davis and Miles Weddle, the program took around a year and a half to curate. After an application process consisting of a resumé submission, interview rounds and a video essay, 23 students were chosen to participate in the immersive music business course.
2021’s guest speakers included the late Virgil Abloh, Mike Dean and Zane Lowe. This year’s iteration follows suit with lectures from star rappers Roddy Ricch and Joey Badass, award-winning actress Issa Rae, celebrity stylist Bloody Osiris and more. And thanks to high-profile sponsors like Nike, Dior, Converse, Jordan Brand, Warner Music Group, Microsoft, Timberland and YouTube, transportation, lodging and meals are fully covered — making the program free for the students.
Joey Badass lecturing No Label Academy’s 2023 student cohort at Harvard University’s Science and Engineering Complex.
Lev Diamond
“Most stuff in entertainment is driven by financial decisions – and that’s not a core component to what it is we do here,” says Weddle, who is also a Harvard alumnus. “We’ve never paid a speaking fee, so every artist who comes here is really doing it because they want to give back to the community and educate individuals. The primary driver of our ability to do this is sponsor dollars.”
Weddle and fellow Harvard alumnus Marcelo Hanta-Davis founded No Label in 2018 to “utilize hip-hop and popular culture to make education more accessible,” says Hanta-Davis. “We’ve found this niche space of bringing hip-hop and academia together.” The idea for NLA came to fruition after the co-founders invited IDK to give a lecture on criminal justice reform at the Ivy League school for No Label’s Uncut speaker series in February 2020.
“I’m a middle-class person who went to prison, partially because I went to a bad school in a bad area,” the 31-year-old told Billboard in 2020. “Then I go back four times on the same exact charge … because I didn’t take home detention or violated this or that. Knowledge and education are important for empowerment, especially in the Black community.”
Hanta-Davis and Weddle maintained their relationship with IDK throughout the pandemic and combined their platforms to ideate No Label Academy. “We determined that there was a need for some kind of music education, and we thought we had a platform based in terms of our relationship with Harvard as alumni,” says Weddle.
IDK made sense as a professor given both the real-life hardships he endured and the first-hand experience he has a signed musician. In the mid-2010s IDK (which stands for “Ignorantly Delivering Knowledge”) began releasing mixtapes as an independent artist. In 2019, his label Clue Records signed a joint venture with Warner Records and released his critically acclaimed breakthrough album Is He Real? the same year. Four albums followed including 2021’s USEE4YOURSELF which reached No. 164 on the Billboard 200 and this year’s F65, which reached No. 21 on the Heatseekers Albums chart and features other big names like NLE Choppa, Musiq Soulchild, Snoop Dogg and more.
But as much success as he’s had as an artist, he’s finding even more satisfaction in his new role as a professor — to the point where he may consider teaching above making music in the future. “I’ve seen a few people cry a few times. I see people really trust the way that I think and the way that I look at things — their willingness to listen and learn,” he says. “There was a Harvard professor [who] is making synthetic hearts… he said he was inspired by what I do and wants to change the way he teaches his course after coming to my class two times. For me, to come from not really graduating high school properly, it means a lot.”
When asked if Harvard has remained cooperative while hosting NLA, he answers vaguely but alludes to the recent reversal of affirmative action in college admissions proving this year’s planning process to be difficult — even though NLA is merely using the institution’s facilities. (Back in June, the Supreme Court overturned affirmative action in college admissions, “declaring race cannot be a factor and forcing institutions of higher education to look for new ways to achieve diverse student bodies,” according to AP.)
“I can’t really speak on the affirmative action thing, honestly,” he says. “It’s still an ongoing thing that we are working to make sure we’re doing right in representing Harvard in a way that they felt was good and also we felt was accurate.”
@leviberlin
Once we arrive at Harvard Medical School, IDK meets up with LaShyra “Lash” Nolen, who walks us inside. Nolen is in her last year at the school, and is the first Black woman to be named Harvard Medical School’s class president. She is an advisor to NLA (along with Brian Price, clinical professor of law at Harvard Law School) and the next speaker for the day.
The last day of class at this year’s No Label Academy is almost identical to the previous four days of the week. Students start the day with 6:00 a.m. workouts, followed by breakfast, meditations, then lectures running from 9:00 a.m. to around 5:00 p.m., with breaks and lunch in between. Each day has a theme – like monetization, financial literacy or mental health — along with surprise guest lecturers.
“My own experience is probably the most important factor to this course,” says IDK. “When you go to school, oftentimes the people who are teaching, especially in music, aren’t currently practicing. And even if they are, they may not have the time to practice full-time. Every guest speaker, at least 99% of them, are personal friends, or people that I’ve met along my journey, and I just reach out to them. I personally believe they add value to what we are trying to do and our mission.”
Following Nolen, Chicago artist Saba and TDE rapper Ab-Soul join Friday’s class to discuss their personal bouts with mental health. The latter opens up about his suicide attempt, what he prefers to call his “near-death experience,” fighting addiction and moving forward. Saba primarily touches on grief (the lyricist lost a handful of his family and friends to violence in a short amount of time) and the pressures of fame and being a provider.
“I think grief is one of the most informative experiences,” Saba says to the class. “Grief can be so many different versions of pain. It’s inevitable and shows you yourself. Grief taught me that everybody going through some s–t.”
Whereas the past few weeks concluded with studio time, Friday evening is more celebratory, with a joint graduation ceremony/fashion show dinner ceremony held at Harvard Art Museum. The students walk a rose-lined runway to accept their certificates of completion while modeling their custom Dior uniforms, designed by IDK and Kim Jones, the fashion house’s men’s artistic director. Rapper and Massachusetts native Bia also stops by to perform at the students’ after party.
NLA 2023 graduate Zahir Muhammad, a 21-year-old rising film/music video director and senior at LSU, says the entire experience has been incredible for him. “I love learning [and] it’s been great having no limit on how much I can learn from everybody here,” he shares.
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“The first day of class, the theme was vulnerability,” Muhammad continues. “IDK said, ‘If you all can make it through this day, then you can make it through anything the entire week.’ None of us knew why he said that, but that whole day was [us] sharing the things we hated about [ourselves]. Everybody was crying but supporting each other. He basically broke us all the way down and built us all the way back up by the end of the week.”
In the future, as funding and time permit, IDK, Weddle and Hanta-Davis plan to expand NLA to colleges and universities nationwide.
“Sometimes we don’t acknowledge the knowledge that we have, because we may have not accomplished some of the things that society deems makes [us] valuable,” says IDK. “This program is a demonstration of perseverance, belief and the ability to never take ‘no’ for an answer — and showing how far that can take you if you have an actual plan that makes sense.”
IDK and No Label Academy’s 2023 student cohort.
Tito Garcia
LONDON — BMG’s revenues jumped 11.5% to 414 million euros ($450 million) in the first half of 2023, fueled by strong growth in the company’s publishing business and a number of high-profile acquisitions, including a major interest in Paul Simon‘s portion of the Simon & Garfunkel catalog and a deal for George Harrison’s solo recordings.
The record label and publisher’s operating earnings before interest, taxes, depreciation and amortization (EBITDA) were up 23% (on a constant currency basis) to 90 million euros ($98 million) at the mid-year point ended June 30, according to figures released Wednesday Aug. 30 by BMG’s German parent company Bertelsmann.
Classic songs from Blondie, Kurt Cobain, Daryl Hall & John Oates, Mick Jagger and Keith Richards – coupled with hit releases by contemporary artists like Lewis Capaldi and Austrian rapper RAF Camora — helped drive the company’s 62% of revenues that come from publishing. That equates to around 257 million euros ($280 million) by Billboard’s calculation (the company didn’t break out revenue numbers).
Recorded music represented 34% of revenue (around $152 million) with Jelly Roll, Kylie Minogue, Godsmack and Rita Ora among BMG’s top-selling recording artists. Among its most listened-to catalog titles were tracks by Motley Crue, Black Sabbath and George Harrison.
In total, BMG said its digital businesses accounted for 63% of revenue, down from 69% in the first half of the previous year. The company said the decrease was due to higher digital revenues being offset by stronger growth in live revenues, driven by a post-pandemic surge in touring.
BMG CEO Thomas Coesfeld, who took over from longstanding chief executive Hartwig Masuch July 1, said the double-digit percentage growth reflected the company’s “strong performance in the face of an increasingly tough market.”
“Against the background of a soft advertising market, a maturing subscription streaming business and a physical music market impacted by inflation-driven cost increases, this is a very positive result,” said Coesfeld in a statement.
Breaking down the revenues on a regional basis, the U.S. was BMG’s biggest market, generating 217 million euros ($236 million), a rise of £14 million euros ($15 million) on the first half of 2022. Germany was BMG’s second biggest market with revenues of 49 million euros ($53 million), followed by the United Kingdom, which brought in 42 million ($46 million).
BMG completed 15 acquisitions in the six-month reporting period, including a deal for Paul Simon’s royalty and neighboring rights income to the full recorded Simon & Garfunkel catalog. Other deals closed in the first half of this year included the acquisition of the song catalog of 1960s British band The Hollies and a share of the writer’s royalties from the heavily synced German Eurodance group SNAP!
In February, BMG reached an agreement with Dark Horse Records over George Harrison’s solo works, marking the first time that the former Beatle’s recorded and publishing rights have sat together under the same roof. To commemorate Harrison’s Feb. 25 birthday, Dark Horse and BMG released Harrison’s entire catalog in Dolby Atmos surround sound exclusively on Apple Music.
Alongside BMG, Bertelsmann’s media holdings include RTL Group, Penguin Random House and service provider Arvato. Bertelsmann reported total revenue of 9.7 billion euros ($10.6 billion) for the first six months of the year, up 4.5% on the previous year. Organic revenue growth was 2.3%.
City of Hope held its third annual Closing the Care Gap event Monday evening (Aug. 28) in association with its Music, Film and Entertainment Industry (MFEI) fundraising group. Focusing on the progress that’s being made while overcoming the challenges that still exist in bringing quality health care to underserved communities, the event was hosted by YouTube and Google global head of music Lyor Cohen and Epic Records chairperson/CEO Sylvia Rhone. Cohen is also MFEI’s 2023 Spirit of Life honoree. He’ll accept the award at City of Hope’s annual gala on Oct. 18.
Held at the Los Angeles home of real estate agent and TV personality Josh Flagg, Closing the Care Gap began with a welcome from Evan Lamberg, president of North America for Universal Music Publishing Group (UMPG). Among the healthcare experts, entertainment industry professionals and prominent music industry executives on hand were City of Hope’s Dr. John D. Carpenter and Kristin Bertell, 300 Entertainment CEO Kevin Liles, UMPG CEO Jody Gerson, CAA head of music and past Spirit of Life honoree Rob Light, former BET CEO Debra Lee, Republic Records executive vp Danielle Price Sanders, 50/50 Music Group Management CEO Willie “Prophet” Stiggers and songwriter Justin Tranter.
Kristin Bertell, Willie “Prophet” Stiggers, Jonathan Azu, Sylvia Rhone, Lyor Cohen, Danielle Price Sanderson, John D. Carpten, Gail Mitchell and Evan Lamberg attend City of Hope’s 3rd Annual Closing the Care Gap Event on August 28, 2023 in Los Angeles, California.
Lester Cohen/Getty Images for City of Hope
In addressing the audience, Cohen said, “The more you give, the more you receive. And today we are all in the business of giving — of our time, our influence, our connections and experiences. It’s our responsibility to do the work to close the care gap. We need to provide access to early detection with routine screenings and better treatment and, of course, resources and education that help increase health equity.”
Rhone, MFEI’s 2019 Spirit of Life honoree, introduced Cohen to the audience. “I’m grateful to have the privilege to help solve these challenges with our industry and give everyone fighting cancer the hope they deserve,” she said.
According to statistics shared by City of Hope, only 20% of cancer patients in the United States are treated at National Cancer Institute-designated cancer centers like City of Hope. In the meantime, economically disadvantaged and racially diverse communities face systemic barriers that limit their ability to find and sustain specialized, lifesaving care.
Dr. John Carpten, director of City of Hope’s National Cancer Institute-designated comprehensive cancer center and director of the Beckman Research Institute of City of Hope as well as the organization’s chief scientific officer and the Irell & Manella Cancer Center Director’s Distinguished Chair, further amplified the equity issue. “Too many people needlessly suffer due to lack of access to the latest medical innovations and systemic barriers that prevent them from getting the best cancer care,” he said. “At City of Hope, we are working to carry out solutions that increase the likelihood that every person living with cancer — regardless of race or region — can get the best care.”
Jacqueline Saturn, Sylvia Rhone, Dina LaPolt and Jody Gerson attend City of Hope’s 3rd Annual Closing the Care Gap Event on August 28, 2023 in Los Angeles, California.
Lester Cohen/Getty Images for City of Hope
Culture Collective CEO and MFEI board member Jonathan Azu added a personal note by sharing his journey after being diagnosed with prostate cancer at age 44. Growing up in a family of medical professionals, he had access to resources and health care that many don’t.
“My outcome is going to be a lot better because of the prostate cancer screening and active surveillance I was able to receive,” Azu said. “There’s nothing I’m more passionate about than breaking the barriers that prevent those who look like me from getting access to screenings and treatment that could save their lives.”
Bertell, City of Hope’s chief philanthropy officer, closed the evening by noting, “You are part of the movement. Your philanthropic partnership supports us in removing obstacles to care for everyone. We cannot cure cancer if we don’t cure it for all.”
Closing the Care Gap is part of a year-long fundraising initiative by City of Hope that will conclude with MFEI’s Spirit of Life Gala honoring Cohen. The gala will celebrate 50 years of philanthropic partnership with MFEI on Oct. 18 at the Pacific Design Center in Los Angeles.
Grimes is among the first wave of featured speakers for the 2024 South by Southwest (SXSW) conference, an event which promises to lean into AI-focused programming.
Announced today (Aug. 29), the multidisciplinary artist will join a session dubbed “AI and the Independent Artist,” which will explore how artificial intelligence is changing the way artists create and market their music, engage with their fans, and, of course, the challenges and responsibilities for the music industry that come with it.
The Canadian artist is known for pushing boundaries in the creative space. She enhanced that reputation by unveiling her Elf.Tech project earlier in the year, an open-source software program which encourages fans to make music (and money) with replications of her voice.
TuneCore CEO Andreea Gleeson and CreateSafe CEO Daouda Leonard are also confirmed for the panel, on which they will “present principles for companies to consider” and share results and lessons learned from early AI pilot programs, according to a SXSW statement.
The conversation on AI is only getting started. Just last week, streaming giant YouTube and Universal Music Group, the world’s biggest music company, announced a new initiative with artists and producers for an “AI Music Incubator,” and YT unveiled its own set of principals as it promised to “embrace” AI “responsibly together” with its music partners.
Other SXSW daytime discussions will drill into “AI and Humanity’s Co-evolution,”” with speakers venture partner at SignalFire Josh Constine and OpenAI’s VP of consumer product and head of ChatGPT Peter Deng; “Building the Next Era of the Internet” with author, general partner at Andreessen Horowitz, and founder/managing partner at a16z crypto Chris Dixon; and a conversation with creator, host, and executive producer of the podcast Call Her Daddy Alex Cooper and founder and CEO of ACE Entertainment Matt Kaplan.
Also slated for the conference schedule, CEO of the Future Today Institute and professor at NYU Stern School of Business Amy Webb will launch the 2024 Emerging Tech Trend Report.
SXSW 2024 will take place March 8–16 in Austin, TX.
Established in 1987, SXSW celebrates the convergence of tech, film and television, music, education, and culture and is recognized as an important destination for professionals who play in those spaces.
SXSW 2024 is sponsored by Porsche, C4 Energy, and The Austin Chronicle.
Visit sxsw.com for more.