Business News
Page: 105
U.S. Latin music revenue increased 15% to a record high of $627 million in the first half of 2023, according to the RIAA’s mid-year Latin music report released Wednesday (Sept. 27). The new milestone for the genre follows Latin music revenue hitting an all-time high last year, exceeding the $1 billion mark with 24% growth that outpaced the overall market.
According to the report, streaming continued to drive an “overwhelming” portion of the genre’s growth, accounting for 98% of revenue. Latin music’s share of overall U.S. recorded music revenue grew from 7.1% in the first half of 2022 to a new pinnacle of 7.5% in the first half of 2023.
“U.S. Latin music revenues reached an all-time high in 2022, and the growth has continued mid-year into 2023. This has been driven by both the vitality of classic hits and chart-topping new releases that have influenced broader culture and society,” said RIAA senior vp of public policy & industry relations Rafael Fernandez in a statement.
Latin music’s growth over the past two years has been driven by the success not only of Bad Bunny — who ended 2022 as the most streamed artist in the United States and around the world — but also artists such as Karol G, who earlier this year made history with Mañana Será Bonito. In March, the 17-track set became the first all-Spanish language album by a Latin female artist to top the Billboard 200.
A new wave of música mexicana acts such as Peso Pluma, Fuerza Regida and Eslabon Armado have also helped usher in a record year for regional Mexican music. Earlier this year, Billboard reported that consumption for the genre jumped 42.1% through May 25, according to Luminate.
The RIAA’s mid-year report further explains that ad-supported on-demand music streaming revenue (from services like YouTube, the free version of Spotify and social media platforms) continued to make up a larger percentage of revenue for Latin music (23%) than for U.S. recorded music overall (10%).
Meanwhile, revenue from digital and customized radio services (such as Pandora, SiriusXM and internet radio services) grew 13% to $36 million — rebounding from a 5% decrease in 2022 — making up 6% of total Latin music revenue. However, physical formats totaled less than 1% of revenue at $4.7 million, resulting in a 37% decline from the first half of 2022.
Purchase tickets to 2023 Billboard Latin Music Week here.
For some music companies, 2022 was the payoff for weathering the darkest days of the COVID-19 pandemic. When business returned that year — sometimes in record-setting fashion — these companies rewarded their executives handsomely, according to Billboard’s 2022 Executive Money Makers breakdown of stock ownership and compensation. But shareholders, as well as two investment advisory groups, contend the compensation for top executives at Live Nation and Universal Music Group (UMG) is excessive.
Live Nation, the world’s largest concert promotion and ticketing company, rebounded from revenue of $1.9 billion and $6.3 billion in 2020 and 2021, respectively, to a record $16.7 billion in 2022. That performance helped make its top two executives, president/CEO Michael Rapino and president/CFO Joe Berchtold, the best paid music executives of 2022. In total, Rapino received a pay package worth $139 million, while Berchtold earned $52.4 million. Rapino’s new employment contract includes an award of performance shares targeted at 1.1 million shares and roughly 334,000 shares of restricted stock that will fully pay off if the company hits aggressive growth targets and the stock price doubles in five years.
Live Nation explained in its 2023 proxy statement that its compensation program took into account management’s “strong leadership decisions” in 2020 and 2021 that put the company on a path to record revenue in 2022. Compared with 2019 — the last full year unaffected by the COVID-19 pandemic — concert attendance was up 24%, ticketing revenue grew 45%, sponsorships and advertising revenue improved 64%, and ancillary per-fan spending was up at least 20% across all major venue types. Importantly, Live Nation reached 127% of its target adjusted operating income, to which executives’ cash bonuses were tied.
The bulk of Rapino’s and Berchtold’s compensation came from stock awards — $116.7 million for Rapino and $37.1 million for Berchtold — on top of relatively modest base salaries. Both received a $6 million signing bonus for reupping their employment contracts in 2022. (Story continues after charts.)
Lucian Grainge, the top-paid music executive in 2021, came in third in 2022 with total compensation of 47.3 million euros ($49.7 million). Unlike the other executives on this year’s list, he wasn’t given large stock awards or stock options. Instead, Grainge, who has been CEO of UMG since 2010, was given a performance bonus of 28.8 million euros ($30.3 million) in addition to a salary of 15.4 million euros ($16.2 million) — by far the largest of any music executive.
This year, shareholders have shown little appetite for some entertainment executives’ pay packages — most notably Netflix — and Live Nation’s compensation raised flags at two influential shareholder advisory groups, Institutional Shareholder Services and Glass Lewis, which both recommended that Live Nation shareholders vote “no” in an advisory “say on pay” vote during the company’s annual meeting on June 9. Shareholders did just that, voting against executives’ pay packages by a 53-to-47 margin.
Failed “say on pay” votes are rare amongst United States corporations. Through Aug. 17, just 2.1% of Russell 3000 companies and 2.3% of S&P 500 companies have received less than 50% votes on executive compensation, according to executive compensation consultancy Semler Brossy. (Live Nation is in both indexes.) About 93% of companies received at least 70% shareholder approval.
ISS was concerned that the stock grants given to Rapino and Berchtold were “multiple times larger” than total CEO pay in peer group companies and were not adequately linked to achieving sustained higher stock prices. Additionally, ISS thought Live Nation did not adequately explain the rationale behind the grants.
To determine what Rapino, Berchtold and other executives should earn, Live Nation’s compensation committee referenced high-earning executives from Netflix, Universal Music Group, SiriusXM, Spotify, Endeavor Group Holdings, Fox Corporation, Warner Bros. Discovery, Inc. and Paramount Global. Netflix co-CEOs Reed Hastings and Ted Sarandos were paid $51.1 million and $50.3 million, respectively, in 2022. Warner Bros. Discovery CEO David Zaslov made $39.3 million in 2022 — including a $21.8 million cash bonus — a year after his pay totaled $246.6 million, including $202.9 million in stock option awards that will vest over his six-year employment contract. Endeavor CEO Ari Emanuel and executive chairman Patrick Whitesell received pay packages worth $308.2 million and $123.1 million, respectively, in 2021 thanks to equity awards tied to the company’s IPO that year (the received more modest pay of $19 million and $12.2 million in 2022).
Some companies in the peer group didn’t fare well in “say on pay” votes in 2023, though. Netflix, got only 29% shareholder approval in this year’s say-on-pay advisory vote after Hastings’ and Sarandos’ compensations both increased from higher stock option awards while the company’s stock price, riding high as COVID-19 lockdowns drove investors to streaming stocks, fell 51% in 2022. Warner Bros. Discovery’s 2022 compensation squeaked by with 51% shareholder approval.
Minutes from UMG’s 2023 annual general meeting in May suggest many of its shareholders also didn’t approve of Grainge’s compensation. UMG’s 2022 compensation was approved by just 59% of shareholders, and the company’s four largest shareholders own 58.1% of outstanding shares, meaning virtually no minority shareholders voted in favor.
UMG shareholders’ votes could be meaningfully different next year. Anna Jones, chairman of the music company’s remuneration committee, said during the annual meeting that in 2024, shareholders will vote on a pay package related to Grainge’s new employment agreement that takes minority shareholders’ concerns from the 2022 annual meeting into consideration. Grainge’s contract lowers his cash compensation, and more than half of his total compensation will come from stock and performance-based stock options.
Other companies in Live Nation’s peer group received near unanimous shareholder approval. SiriusXM’s 2022 executive compensation received 98.5% approval at the company’s annual meeting. Paramount Global’s executive compensation was approved by 96.4% of its shareholders. Endeavor didn’t have a “say on pay” vote in 2023, but a year ago, it’s sizable 2021 compensation packages were approved by 99% of voting shareholders.
As the radio industry came back from pandemic-era doldrums, two iHeartMedia executives — Bob Pittman, CEO, and Richard Bressler, president, CFO and COO — were among the top 10 best-paid executives in the music industry. It was new employment contracts, not iHeartMedia’s financial performance, that put them into the top 10, however. Both executives received performance stock awards — $6.5 million for Pittman and $6 million for Bressler — for signing new four-year employment contracts in 2022. Those shares will be earned over a five-year period based on the performance of the stock’s shareholder return. Neither Pittman nor Bressler received a payout from the annual incentive plan, however: iHeartMedia missed the financial targets that would have paid them millions of dollars apiece. Still, with salaries and other stock awards, Pittman and Bressler received pay packages valued at $16.3 million and $15.5 million, respectively.
Spotify co-founders Daniel Ek and Martin Lorentzon once again topped the list of largest stockholdings in public music companies. Ek’s 15.9% stake is worth nearly $4.8 billion while Lorentzon’s 11.2% stake has a market value of nearly $3.4 billion. Both Ek and Lorentzon have benefitted from Spotify’s share price more than doubling so far in 2023. In September 2022, the inaugural Money Makers list had Ek’s stake at $3.6 billion and Lorentzon’s shares at $2.3 billion.
The billionaire club also includes No. 3 HYBE chairman Bang Si-hyuk, whose 31.8% of outstanding shares are worth $2.54 billion, and No. 4 CTS Eventim CEO Klaus-Peter Schulenberg, whose 38.8% stake — held indirectly through his KPS Foundation non-profit — is worth $2.25 billion. They, too, have benefitted from higher share prices in 2023. Last year, Bang’s stake was worth $1.7 billion and Schulenberg’s shares were valued at $2.1 billion.
These top four shareholders and three others in the top 10 have one important thing in common — they are company founders. At No. 5, Park Jin-young, founder of K-pop company JYP Entertainment, owns a $559 million stake in the label and agency he launched in 1997. Another K-pop mogul, No. 8 Hyunsuk Yang, chairman of YG Entertainment, owns shares worth $199 million in the company he founded in 1996. And No. 9 Denis Ladegaillerie, CEO of 18-year-old French music company Believe, has a 12.5% stake worth $112.7 million.
Live Nation’s Rapino again landed in the top 10 for amassing a stockholding over a lengthy career, during which he has helped significantly increase his company’s value. Rapino, the only CEO Live Nation has ever known, took the helm in 2005 just months before the company was spun off from Clear Channel Entertainment with a market capitalization of $692 million. Since then, Live Nation’s market capitalization has grown at over 20% compound annual growth rate to $19.1 billion. Rapino’s 3.46 million shares represent a 1.5% stake worth $291 million.
Selling a company that one founded is another way onto the list. Scooter Braun, CEO of HYBE America, has a 0.9% stake in HYBE worth $69.8 million. That’s good for No. 10 on the list of executive stock ownership. Braun, HYBE’s second-largest individual shareholder behind chairman Bang, sold his company, Ithaca Holdings — including SB Projects and Big Machine Label Group — to HYBE in 2021 for $1.1 billion.
These rankings are based on publicly available financial statements and filings — such as proxy statements, annual reports and Form 4 filings that reveal employees’ recent stock transactions — that publicly traded companies are required by law to file for transparency to investors. So, the list includes executives from Live Nation but not its largest competitor, the privately held AEG Live.
Some major music companies are excluded because they are not standalone entities. Conglomerates that break out the financial performance of their music companies — e.g., Sony Corp. (owner of Sony Music Entertainment) and Bertelsmann (owner of BMG) — don’t disclose compensation details for heads of record labels and music publishers. Important digital platforms such as Apple Music and Amazon Music are relatively small parts of much larger corporations.
The Money Makers executive compensation table includes only the named executive officers: the CEO, the CFO and the next most highly paid executives. While securities laws vary by country, they generally require public companies to named executive officers’ salary, bonuses, stock awards and stock option grants and the value of benefits such as private airplane access and security.
And while Billboard tracked the compensation of every named executive for publicly traded music companies, the top 10 reflects two facts: The largest companies tend to have the largest pay packages and companies within the United States tend to pay better than companies in other countries.
The list of stock ownership is also taken from public disclosures. The amounts include common stock owned directly or indirectly by the executive. The list does not include former executives — such as former Warner Music Group CEO Stephen Cooper — who are no longer employed at the company and no longer required to disclose stock transactions.
On a trip to visit his mother in Israel last year, Lyor Cohen, YouTube’s global head of music, asked her one of those big life questions that’s impossible to answer with anything but a big answer.
“She has 16 grandchildren and four sons, she’s 92 years old, and she is moving around this world by herself and still enjoying her grandchildren, healthy,” said Cohen. “And I said to her, ‘You’re a very, very lucky person.’ And she said, ‘Yes, I know that.’ And I said, ‘So, why are you so lucky?’
Without hesitation, she replied, “The more you give, the more you receive.”
At 63, with three kids and an illustrious career in music, Cohen said it’s this giving spirit that inspired him to accept this year’s Spirit of Life award from City of Hope, one of the country’s leading cancer treatment and research centers.
“We’re in the giving business and so we’re grateful to be here and to have the privilege,” said Cohen. “It’s a privilege to do it, but you have to get out of your normal grind to recognize that.”
Dr. Joseph Alvarnas speaks to a group on a tour of City of Hope on April 17, 2023.
Ryan Hartford
The honor, bestowed by City of Hope’s music, film and entertainment industry (MFEI) fundraising group, is reserved for entertainment industry titans and has helped the MFEI group raise $150 million since launching in 1973. Now in its 50th year, recent recipients in music include Republic Records founders/chief executives Monte and Avery Lipman (2022), Epic Records chairperson/CEO Sylvia Rhone (2019) and Sony Music Publishing chairman/CEO Jon Platt (2018). As such, the events around them are regularly a who’s-who of industry heavyweights and well-wishers leading up to the gala dinner where the award is presented, which this year will take place Oct. 18 at the Pacific Design Center in Los Angeles.
In April, before the monthslong rollout of events including the All In For Hope Poker Tournament in May and the Music Trivia Bowl in July began, Cohen and seven of his staff members woke up early to drive over 100 miles from the Coachella Valley in rush hour traffic for a tour of the City of Hope campus in Duarte, Calif., just outside Los Angeles. It was the morning after the Coachella Valley Music and Arts Festival’s first weekend, where Cohen’s team oversaw what was likely the largest festival livestream event ever, broadcasting to more than 45 million people worldwide, according to the company. Many of them noted they hadn’t even had a cup of coffee yet.
Cohen, the tallest of the bunch, dressed in all black with a scarf around his neck, led the group, which also included Universal Music Publishing Group, North America president Evan Lamberg, entertainment lawyer Dina LaPolt, Culture Collective founder/CEO Jonathan Azu and Spirit Music Group chairman David Renzer — all of whom are on the City of Hope MFEI Board — as they followed City of Hope staff around the expansive 100-plus acre grounds.
There, they spoke with doctors and scientists to better understand the organization’s research efforts and care services. One of the key advantages City of Hope has in the field, several staff members explained, is that the proximity of scientists, treatment staff and manufacturing facilities, all of which are on-site, allows cross-collaboration that brings their research — seeking cures for cancer, HIV/AIDS and other life-threatening diseases — directly to patients without delay. Throughout, Cohen listened closely and expressed an intent to focus on how to address health disparities for Black people in the United States to create more equitable access to healthcare and establish greater trust in the system.
“I’ve made a living on Black music,” he said, “and what I’m particularly interested in is figuring out how the Black community could demystify getting early treatment and understanding about cancer and how they get the opportunity to help educate and eradicate cancer in these communities.”
Dr. Debbie Thurmond speaks on a tour of City of Hope on April 17, 2023.
Ryan Hartford
Cohen launched his career in the 1980s New York hip-hop scene as a road manager for Russell Simmons‘ Rush Productions before going on to manage the label. He later headed up Def Jam and then Warner Music Group before co-launching 300 Entertainment and, in 2016, joining YouTube. He had a hand in the careers of Public Enemy, DJ Jazzy Jeff & the Fresh Prince, De La Soul, Eric B. & Rakim, A Tribe Called Quest, Jay-Z, DMX, Ja Rule and Ludacris. He acknowledges this is an opportunity to support the people and culture that built his success.
Supporting economically disadvantaged and racially diverse communities facing barriers that limit their ability to find and sustain specialized care was the focus of City of Hope’s Closing the Care Gap event on Aug. 29 and has been at the center of the organization’s MFEI fundraising since 2018. According to City of Hope, only 20% of cancer patients in the United States are treated at National Cancer Institute-designated cancer centers, which can sometimes mean the difference between life and death. It’s something the City of Hope treatment and research center is addressing through community partnerships, government policy, expansion and diversifying its own workforce.
“My big takeaway is that there are so many people that have committed a lifetime to helping others that are selfless, that are so enthusiastic about solving some of these big problems,” Cohen said after the tour. “I saw and met many of the doctors here that loved the fact that they were in an organization that’s biased to speed of getting things done, and breaking the code and making things happen. I felt like this is a joyful place to work and a joyful place to solve these problems.”
Jordan Schepps, Jonathan Azu, Ali Rivera, David Renzer, Waleed Diab, Dina LaPolt, Stephen Bryan, Vivien Lewit, Jake O’Leary, Lyor Cohen, Evan Lamberg, Zach Horowitz, and Loren Fishbein on a tour of City of Hope on April 17, 2023.
Ryan Hartford
Brittany Howard signed with Island Records. The singer, also the lead singer and guitarist for Alabama Shakes, is ramping up to release new music on the label and embark on a headlining tour that kicks off Nov. 6 and will include shows at Nashville’s Ryman Auditorium and the Corona Capital Festival in Mexico City. Howard’s debut solo album, Jaime, was released in 2019 and netted her two Grammy nominations — best rock song and best rock performance for the track “History Repeats.” She’s managed by Red Light.
Range Media Partners signed Russell Dickerson to its music division. Dickerson’s first four singles topped Billboard’s Country Airplay chart, starting with 2018’s “Yours.” He’s slated to launch his Big Wheels & Back Roads headlining run later this month. Since launching just over two years ago, Range’s music division has launched its own label in partnership with Capitol Music Group and Virgin Music & Artist Label Services, representing a range of talent including Jack Harlow, Saweetie, Justin Tranter, Cordae, Midland, Hailey Whitters, Luke Grimes and Paul Russell. – Jessica Nicholson
Range Media also signed Chinese singer-songwriter, dancer and actor Lay Zhang to a global deal across all areas. Zhang, who first rose to fame as a member of the K-pop group EXO, scored his first Billboard 200 entry with his 2018 solo album, NAMANANA: 03, which debuted at No. 21 on the chart. According to a press release, Zhang boasts over 80 million followers across his social media accounts. In addition to music, he’s currently starring in the Chinese box office smash No More Best and is slated to star opposite Jackie Chan in the forthcoming film A Legend; he’s also a brand ambassador for Hublot, Sprite, Fila and Bang & Olufsen.
Puerto Rican hitmaker Yandel signed a record deal with Warner Music Latina. Yandel, a reggaeton icon whose career spans decades — he broke out in the early 2000s as one half of the duo Wisin & Yandel — signed his contract at the Empire State Building in New York City, where he had the honor of kicking off the Hispanic Heritage Month celebration by leading the lighting ceremony. “Yandel’s iconic career has resonated with audiences worldwide, and his influence in the music industry is undeniable. This collaboration signifies a new chapter of innovation and creativity. We are excited to work hand in hand with Yandel to bring his music to fans across the globe,” said Warner Music Latina president Alejandro Duque in a statement. Yandel added, “I am truly excited to join the Warner Music Latina family and look forward to bringing new music to fans worldwide, fostering this new adventure with the label, and continuing to write my musical story together.” – Griselda Flores
Indian-born singer-songwriter-composer Guru Randhawa signed with CAA for representation. Known for Bollywood and Punjabi hits including “Patola,” Lahore” and “High Rated Gabru,” Randhawa broke into the U.S. mainstream with his 2019 Pitbull collaboration, “Slowly Slowly.” The music video for his latest single, “You Talking To Me,” has been viewed 30 million times in four weeks, according to a press release. He’s currently working on English-language music in Los Angeles. Randhawa is also represented by Exceed Entertainment in Mumbai, India; High G Talent; and the law firm Gang, Tyre, Ramer.
Warner Music Nashville signed singer-songwriter Matt Schuster. The Illinois native released his major-label debut track, “Tell Me Tennessee,” on Friday (Sept. 22). Schuster also has a cut on Bailey Zimmerman’s album Religiously. The Album., with “Chase Her,” and will open for Ashley Cooke, Dylan Scott and Kameron Marlowe this year. His team includes manager Eric Parker at Extended Play, booking agents Nate Towne, Braeden Rountree and Morgan Kenney at WME and Universal Music Publishing Group. – J.N
Ally Brooke partnered with AI-powered label SNAFU Records to release her new track, “Gone To Bed,” on Friday (Sept. 29). The deal marks Brooke’s reunion with Joey Arbagey, SNAFU’s president of A&R who first worked with Brooke during her time in Fifth Harmony. Brooke is managed by William Bracey, Sharona Nomder and Rue Golan and represented for booking by Mike G at UTA. She was previously signed to Atlantic Records as a solo artist and to Epic Records as part of Fifth Harmony.
The U.K. office of Believe partnered with Afroswing artist Darkoo and U.K. rapper Tion Wayne for their new single, “Shayo.” Believe will spearhead a full artist services campaign for the track encompassing global digital and physical distribution, digital marketing, digital service provider pitching and partnerships and more. The deal includes support from Believe’s audience development team spanning over 50 countries. “Shayo” marks Darkoo and Wayne’s third collaboration.
Rising rock artist Amira Elfeky signed with Anemoia Records/Atlantic Records, which released her latest track, “Coming Down,” on Sept. 15. Her relationship with Anemoia — a genre-agnostic imprint that specializes in early artist development and also boasts The Hellp, southstar and PEARCE on its roster — began nearly two years ago when she and her manager-masterer-mixer, Tylor Bondar, began working on music in Anemoia founder Ian Hunter‘s Los Angeles home. She released the track “Tonight (Demo)” in July. More music from Elfeky is expected in the fall.
Singer-songwriter Tiera Kennedy signed with Hill Entertainment Group for management and WME for global representation in all areas. Kennedy will be managed by Kodi Chandler, Greg Hill and their team, while at WME her reps are Risha Rodgers and Carter Green. She recently released “Jesus, My Mama, My Therapist,” a track off her forthcoming debut album. Kennedy is signed to Big Machine.
U.K.-born singer-songwriter-producer and multi-instrumentalist Finn Askew (“Roses,” “Feather”) signed to Elektra Entertainment, which released his latest single, “Perfect Colour,” on Friday (Sept. 22). Askew is managed by Marissa Rodney and was formerly signed to Polydor Records.
Indie rock duo Mae signed to Equal Vision Records, which will release new music from the band early next year (their first in nearly five years); Mae vocalist David Elkins is currently producing the new album at his Nashville-based Schematic Studios. Eva Alexiou-Reo manages and handles booking for the duo, which was previously signed to Tooth & Nail and Capitol Records and also released music on its own label, Cell Records.
Indigenous Canadian hip-hop duo Snotty Nose Rez Kids (comprised of Young D and Yung Trybez) signed to Sony Music Entertainment Canada. The 2023 Polaris Music Prize-shortlisted group is slated for a brief autumn tour to support its fifth full-length album, I’m Good, HBU? Brodie Metcalf at Meta Arts serves as the duo’s manager, while booking is handled by Jordan Powley at The Feldman Agency.
Universal Music Latino signed emerging reggaeton artist Fiamma, who rose to attention in 2020 with her single, “Chiki Pon.” Born in Puerto Rico and based in Miami, the singer said in a statement: “I am very grateful to the Universal Music Latino family for giving me the opportunity to represent the women of Puerto Rico in this prestigious company. This is a dream I’ve had since I was a child, and I’ve worked hard to get here, but now the real work begins. Thanks to everyone who has contributed to making this possible.” – G.F.
Enter the National Arts Club, a Victorian Gothic Revival brownstone off Manhattan’s Gramercy Park; climb four winding flights of stairs; pass the Pastel Society of America; and there will be the offices of director Wes Anderson’s longtime music supervisor, Randall Poster. And though in summer 2023 Hollywood is at a strike-induced standstill, Poster, creative director of Premier Music — the advertising-focused music supervision agency — is as busy as ever.
(Update: A tentative deal has been reached between screenwriters and the studios, streaming services and production companies.)
Poster’s film projects in the next several months include music supervision for the fall’s The Wonderful Story of Henry Sugar (with Anderson), Priscilla (with Sofia Coppola), Killers of the Flower Moon (with frequent collaborator Martin Scorsese), as well as Joker: Folie á Deux (with Todd Phillips) and Hit Man (with Richard Linklater).
And that’s just his day job. Amid the pandemic, an unlikely new passion became a calling when Poster started the Birdsong Project, enlisting his diverse group of artist friends to create music inspired by or incorporating birdsong in an effort to benefit avian life. The result: For the Birds, a 20-album box set containing 172 new pieces of music and 70 works of poetry (all proceeds go to the National Audubon Society) and has led to a growing global community that’s still evolving under his leadership, one in which he hopes the music industry will take a real interest.
How has the strike affected your business?
There are some movies I’m working on that we can’t get finished because we can’t get the main actors to do [automated dialogue replacement]. And then there are movies that were meant to start in the fall that are pushing. I think everyone’s unclear about how it’s going to play out. I don’t really talk to a lot of other music supervisors, but for people who are just scraping by in music supervision, the shutdown of shows is brutal. In terms of music departments, there has been constriction at the streamers, but I’m not sure that was borne out of the strike, at least to this point. But in the short term, I’m busy. And our company, in terms of doing a lot of advertising work, thankfully, that has been very active.
A sampling of Poster’s extensive collection of musician paintings by Dan Melchior, part of an ongoing series, alongside a ceramic bird by Ginny Sims.
Nina Westervelt
Even in the music industry, I think few understand very well what a music supervisor actually does. How would you explain it?
I view my work as a filmmaker, not just a person who deals with the music — using music to best tell a story, to compensate where the story needs a bit of help and having a really candid and fluid relationship with directors and producers. People always say to me, “Oh, Randy Poster’s the guy who picks the music for the Wes Anderson movies” — but I don’t pick the music. I don’t want to be the one who does. Directors pick. I may present, we may have a conversation borne out of months of musical dialogue, but ideally, it’s the director’s medium. When people come out of the movies I work on and say, “Oh, the music was the best part,” that’s not really a victory. When people say, “I don’t really even remember the music,” sometimes that’s the best service you can do to the film — that it feels like the fabric of the movie.
What does a normal day of work look like for you?
Making sure rights are coming in; working on scenes of a movie and putting different songs up to it; making calls to record companies and publishers to see if I can narrow a price differential in terms of what we have to pay and what they’re asking us to pay; reaching out to artists and managers to see if people are interested in recording new music; looking at cues that are coming in from the composer on the movie; putting together a playlist for a director — like when starting a project, using the music to establish a dialogue. Describing what music is doing is very difficult, and words don’t necessarily mean the same things to different people, but if you can relate to songs, it gives you a sense of tempo, vibe, instrumentation they like. And then getting feedback from directors and editors: “This is working. This isn’t. Is there too much music in the movie? Is there not enough?” Sometimes it’s my role to protect the silences.
From left: A painting of country artist Jim Reeves by artist Henry Miller; a ceramic bird sculpture by Joseph Dupré; a painting of Buck Owens’ band, The Buckaroos, by Ashley Bressler (one of many artists Poster has discovered on Instagram).
Nina Westervelt
Has the catalog sales boom affected your bottom line?
When certain catalogs were held by the artist or the artist’s camp, there was a little more flexibility. If a company pays $500 million for an asset, they can’t license something at what they would say is a sort of embarrassing rate. Like, “We’re only licensing this for $10,000 a use; it’s going to take us 200 years to recoup our investment.” On the other hand, I always feel, especially with older catalogs, a movie use is going to open up a new audience to that artist, whether it’s “Oh, that’s Rod Stewart?” or “Wow, I had an idea of what Janis Joplin was like, but I’m surprised by this.”
Does it feel less personal than working with publishers and songwriters?
I wish things were more human and less corporate, but I’ve seen it throughout my whole career. You used to have 12 companies you’d license music from, and then two companies would merge and they’d cut half the staff. They’d have the catalog, but no one would know whom to talk to. A lot of times, what we have to do is convince these companies they actually own something or help them make a connection. That can also be fun — the detective work that goes into figuring out who owns the rights to something. I just wish the music companies had more of an understanding of the process of filmmaking. Oftentimes, it’s not just needing the price to be right — it’s also getting a timely answer. Name the price; just give me an answer.
A cardboard replica of the police car from the Blues Brothers movie by artist Richard Willis.
Nina Westervelt
On the flip side of that, the synch business is so huge. Do you get pitched often?
Yeah, people are pitching nonstop. There are people whom I respect and trust, and my response is always I want to listen to anything you think is great, but I just want to find the right music. This is going to sound horrible, but I don’t do anybody any favors. I’ll do you a favor in life as my friend, but I will not put music in a movie because I’m connected to somebody. I certainly do file things away for the future. I may love a song but not have the right movie for it. At the moment, I’m working on things in the ’20s, the ’50s — period pieces.
How do you seek out new music?
Every way — through social media, through traditional music press, recommendations. I have two daughters who are very into music. Artists lead you to artists a lot. I’ve been very reluctant to use an algorithm to find music. Probably at certain points I’d benefit from that, but I like to discover it myself.
A beaded African tribal hat Poster bought from a street vendor on Manhattan’s Houston Street. “As we started reaching out to artists we loved to make album covers for the box set, I found myself looking at all sorts of bird- centric pieces, and I couldn’t resist them.”
Nina Westervelt
Speaking of discovery, how did you get the idea for the Birdsong Project?
I’m a New York City kid; I’m not really a nature boy. But during the pandemic, we were all somewhat soothed by the way nature seemed to be doing its thing, unperturbed by the virus, and a lot of my friends were noticing there were so many birds. A friend I work with, Rebecca Reagan, who lives in California and is much more involved in nature causes, was like, “You should get all your musician friends to create music around birdsong. That would be a great way to joyfully draw people’s attention not only to the beauty and variety of birds but also the crises facing birds. It would be a nonpolitical way to draw people to protect the birds.” For the most part, I’ve found, no one wants to see birds die. It’s a way to bring together people in community, which seems to be so difficult otherwise. The response from artists was very positive, and it just kept going.
What do you get out of it that you don’t from your day job?
I’m usually the person who has to be a very strong editorial hand in getting what we need for a movie. Here, I just said [to artists], “Thank you.” It was very much a broad invitation to do what they feel. I didn’t really give notes, other than maybe, “Hey, this is beautiful. Can it be nine minutes versus 23 minutes?” It was liberating. I had to allow a certain kind of randomness versus how you sequence music for a movie.
What are your ambitions for the project with respect to the music industry?
I would like to see us adopted by the music community like they have the TJ Martell Foundation. But that may be a longer road. So we’re just working away. The label Erase Tapes has 10 artists on the compilation, so in 2024, they’re going to do a Birdsong album by taking their artists and remixing them, and I’d like to do collaborations with other labels so it spreads. That way I’m not the record company — we work with your artists, we curate with you. I think we’ll be ready in 2025 to hopefully do a big Birdsong concert maybe in Central Park.
At this point in your career, you’re a bit of a music supervision legend. How do you advise young people who want to do what you do?
I encourage them to find their contemporaries who want to make movies and throw in. It has never been easier to make movies. I wanted to work on movies where that one kid in the movie theater thinks, “I want to do this” — Wes and I were that kid. Do whatever you need to do to create and be creative. When people ask me the difference between how I work now and how I worked 25 years ago — well, I probably cry a little bit less, in the sense that when a director does not choose a song I feel is so right, I have more of a balanced [reaction]. I still am up for battles, though. And hopefully, people want to work with me because I’m not just a rubber stamp. We have to fight for every cue.
Union leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors.
The Writers Guild of America announced the deal in a joint statement with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and production companies in negotiations.
“WGA has reached a tentative agreement with the AMPTP,” the guild said in an email to members. “This was made possible by the enduring solidarity of WGA members and extraordinary support of our union siblings who joined us on the picket lines for over 146 days.”
The three-year contract agreement — settled on after five marathon days of renewed talks by WGA and AMPTP negotiators that was joined at times by studio executives — must be approved by the guild’s board and members before the strike officially ends.
In a longer message from the guild shared by members on social media, the writers were told the strike is not over and no one was to return to work until hearing otherwise, but picketing is to be suspended immediately.
The terms of the deal were not immediately announced. The tentative deal to end the last writers strike, in 2008, was approved by more than 90% of members.
The agreement comes just five days before the strike would’ve become the longest in the guild’s history, and the longest Hollywood strike more than 70 years.
As a result of the agreement, nightly network shows including NBC’s “The Tonight Show Starring Jimmy Fallon” and ABC’s “Jimmy Kimmel Live!” could return to the air within days.
But as writers prepare to potentially crack open their laptops again, it’s far from back to business as usual in Hollywood, as talks have not yet resumed between studios and the Screen Actors Guild-American Federation of Television and Radio Artists. Crew members left with no work by the stoppage will remain unemployed for now.
“SAG-AFTRA congratulates the WGA on reaching a tentative agreement with the AMPTP after 146 days of incredible strength, resiliency and solidarity on the picket lines,” the actors union said in a statement. “While we look forward to reviewing the WGA and AMPTP’s tentative agreement, we remain committed to achieving the necessary terms for our members.”
The statement said the guild continues “to urge the studio and streamer CEOs and the AMPTP to return to the table and make the fair deal that our members deserve and demand.”
The proposed solution to the writers strike came after talks resumed on Wednesday for the first time in a month. Chief executives including Bob Iger of Disney, Ted Sarandos of Netflix, David Zaslav of Warner Bros. Discovery and Donna Langley of NBCUniversal reportedly took part in the negotiations directly.
It was reached without the intervention of federal mediators or other government officials, which had been necessary in previous strikes.
Los Angeles Mayor Karen Bass issued a statement congratulating the two sides on the deal and said she is hopeful the same can happen soon with actors.
California Gov. Gavin Newsom did the same, saying writers “went on strike over existential threats to their careers and livelihoods — expressing real concerns over the stress and anxiety workers are feeling. I am grateful that the two sides have come together.”
About 11,500 members of the Writers Guild of America walked off the job May 2 over issues of pay, the size of writing staffs on shows and the use of artificial intelligence in the creation of scripts. Actors, who joined the writers on strike in July, have their own issues but there have been no discussions about resuming negotiations with their union yet.
The writers strike immediately sent late-night talk shows and “Saturday Night Live” into hiatus, and has since sent dozens of scripted shows and other productions into limbo, including forthcoming seasons of Netflix’s “Stranger Things,” HBO’s “The Last of Us,” and ABC’s “Abbot Elementary,” and films including “Deadpool 3” and “Superman: Legacy.” The Emmy Awards were also pushed from September to January.
More recently, writers had been targeting talk shows that were working around strike rules to return to air, including “ The Drew Barrymore Show,” “ Real Time With Bill Maher ” and “The Talk.” All reversed course in the face of picketing and pressure, and are likely to quickly return now.
The combined strikes made for a pivotal moment in Hollywood as creative labor faced off against executives in a business transformed and torn by technology, from the seismic shift to streaming in recent years to the potentially paradigm-shifting emergence of AI in the years to come.
Screenwriters had traditionally gone on strike more than any other segment of the industry, but had enjoyed a relatively long stretch of labor peace until spring negotiations for a new contract fell apart. The walkout was their first since 2007 and their longest since 1988.
On July 14, more than two months into the strike, the writers got a dose of solidarity and star power — along with a whole lot of new picketing partners — when they were joined by 65,000 striking film and television actors.
It was the first time the two groups had been on strike together since 1960. In that walkout, the writers strike started first and ended second. This time, studios opted to deal with the writers first.
The AMPTP first reached out to suggest renewing negotiations in August. The meetings were short, infrequent, and not productive, and talks went silent for another month.
Shares of YG Entertainment plummeted 16.3% this week amidst speculation the agency has not renewed the contracts of the members of girl group BLACKPINK. Following a spate of reports out of South Korea, the company’s share price dropped 13.3% on Thursday (Sept. 21) and another 4.1% on Friday (Sept. 22).
On Thursday, Korean news outlet Daily Sports Seoul reported that three members of BLACKPINK — Jennie, Jisoo and Lisa — will leave YG Entertainment and spend just six months out of the year as part of the group. In response to that report and the flurry of media attention that followed, YG Entertainment issued a brief statement: “Currently, BLACKPINK’s contract renewal has not been confirmed and is being discussed.”
BLACKPINK became the first K-pop girl group to play Coachella in 2019 and headlined the festival in 2023. The quartet was also the first K-pop girl group — and the third K-pop group overall — to top the Billboard 200, with its 2022 album, Born Pink.
A week ago, YG Entertainment’s share price was up 80.8% year to date and was outpacing its K-pop competitors. Following the BLACKPINK news, shares of YG Entertainment fell to 130,300 KRW ($97.56), dropping its year-to-date gain to 51.4%. That put YG Entertainment below SM Entertainment’s 69.9% year-to-date gain and JYP Entertainment’s 55.6% improvement.
Overall, the 21-stock Billboard Global Music Index fell 1.9% to 1,330.12 this week, lowering its year-to-date gain to 13.9%. Eleven stocks ended the week in negative territory and two were unchanged. Of the eight stocks that finished in positive territory, only Cumulus Media, which gained 7.9% to $4.80, appreciated more than 3%.
Music stocks outperformed some major indexes, though. In the United States, the S&P 500 dropped 2.4% to 4,345.64 and the Nasdaq composite fell 3.6% to 13,211.81. Overseas, the United Kingdom’s FTSE 100 fell 0.4% to 7,683.91 while South Korea’s KOSPI composite index declined 3.6% to 2,508.13.
Led by Cumulus Media’s 7.9% gain, the three radio companies in the index had an average gain of 3.8% — the only segment in positive territory — with SiriusXM gaining 2% to $4.07 and iHeartMedia rising 1.5% to $3.45. Meanwhile, the eight stocks covering record labels and music publishers lost an average of 1.1%, and four live music stocks fell by an average of 1.7%. The six streaming companies in the Billboard Global Music Index lost an average of 6.9%.
Two streaming companies, LiveOne and Anghami, had the sharpest declines of the week. Abu Dhabi-based Anghami dropped 19% to $0.68, bringing its year-to-date loss to 57.4%. U.S. music streamer LiveOne fell 23.4% to $1.05 and has lost 36% of its value since spinning off its PodcastOne division on Sept. 11 and attracting media attention over allegations its Kast Media division did not pay some advertising revenues to podcasters. The spinoff hasn’t helped the company’s combined value: Trading under the name Courtside Group, the podcast company’s share price fell to $2.05 this week, 52% below its opening trading price on Sept. 8. The other streaming stocks almost broke even this week: Spotify, Tencent Music Entertainment, Cloud Music and Deezer had an average share price decline of just 0.2%.
Hipgnosis Songs Fund rose 2.8% to 0.832 pounds ($1.02) a week after dropping 12.8% on news the publicly traded investment trust plans to sell some catalogs for $465 million. The sale proceeds would fund share buybacks and repurchase debt, which Hipgnosis believes will support the beleaguered share price and reset the company’s net asset value.
Shares of Warner Music Group (WMG) dropped 4.7% to $30.76 this week following the announcement on Monday (Sept. 18) that BMG is taking control of its digital distribution and will no longer use WMG’s ADA Distribution (though it will continue to outsource its physical distribution). The news didn’t impact WMG’s share price until Wednesday (Sept. 20), when a report by analysts at Guggenheim stated that BMG’s decision would cause “a staggered reduction in WMG gross revenue” beginning Dec. 31 of roughly $250 million annually. Losing BMG’s digital business won’t be a major hit to WMG’s earnings before interest, taxes, depreciation and amortization (EBITDA), however: Guggenheim believes WMG’s revenue from BMG had an EBITDA margin in the low single digits and would have “minimal free cash flow impact.” Guggenheim has a $37 price target on WMG, which implies 20% of upside from Friday’s closing price.
If you’re looking for growth in the U.S. recorded music industry, there are two clear bright spots in the maturing streaming market. But they each come with caveats and considerations.
From the looks of the RIAA’s midyear report, released Monday (Sept. 18), music subscription services and synchronization royalties — two of the biggest drivers of U.S. recorded music’s gains in the first half of 2023, according to the RIAA — should continue going strong through the end of the year.
For subscriptions, revenue increased 12.4% to $4.97 billion over the first six months of the year and accounted for 84% of the industry’s $710-million year-over-year improvement. The number of subscribers grew at a slower rate, though — 6.4% to 95.8 million — which suggests a saturated market where new subscribers are becoming harder to find. (The RIAA provides the average number of subscribers during the six-month period, not the number on the final day of the period.) The fact that revenue outgrew subscribers shows that streaming companies are now finding growth through price increases instead. In 2022 and early 2023, Apple Music and Amazon Music raised prices on individual and family plans. Over that same time, the average revenue per subscriber per month increased from $8.19 in the first half of 2022 to $8.65 in the second half of 2023, according to the RIAA’s numbers.
Streaming revenue’s resilience amid price increases “actually underscores the point that music continues to be the most under-monetized form of entertainment,” says Golnar Khosrowshahi, CEO of Reservoir Media, “and can certainly withstand a price increase structure that has some rhythm to it.” Right on cue, Deezer added to a steady drumbeat of pricing updates when it announced on Thursday (Sept. 21) a second price increase in France, the United Kingdom, Spain, Italy and the Netherlands on top of hikes in 2022.
Spotify’s price increase — individual plans up $1 to $10.99 per month and family plans up $2 to $16.99 per month — was announced in July and should give a boost to streaming revenues in the second half of the year. Spotify previously stated that its limited price increases had not created a material amount of customer churn, and Deezer’s decision to again raise prices bolsters Khosrowshahi’s belief that consumers are able to withstand slightly higher prices without canceling their subscriptions.
Revenues from synchronizations — when music is licensed for audio-visual works such as advertisements, movies, TV shows and video games — grew 25.1% to $222.7 million and accounted for 6% of the $710 million of total revenue growth. Synchronizations have been on a roll since the pandemic helped create a boom in licensing opportunities. The latest mid-year improvement follows a 29.9% gain in the first half of 2022 and a 24.8% improvement in calendar year 2022.
The Writers Guild of America strike that began on May 2 hasn’t hurt synchronization revenues — yet. “I’m encouraged right now,” says Tyler Bacon, president/CEO of Position Music. “My team is busy.” So is Jedd Kantrancha, chief commercial officer of Downtown Music Publishing. Kantrancha says August was Downtown’s best month for the number of synchronizations of 2023 and its third-best month ever.
“One of the biggest things that I’m seeing is just more and more partners and people in the space who have a music budget, who want to learn and want to be educated about how to use music,” says Kantrancha. “I’m doing more uses now with people who haven’t licensed music before than I have in years. And I think that that’s definitely something that relates to the lift [in synchronization revenue] that you’re seeing. There are more people out there exploring how to license music.”
This sort of boom, however, will eventually be hampered by the strikes — it’s just a matter of when.
Many believe the lag from the start of the strike — which reduces the number of post-production opportunities to match music to film and TV shows — to a synchronization slowdown won’t be felt until early 2024. Film and TV studios have “a lot of stuff in the pipeline” that will provide synchronization opportunities through the end of the year despite the strike, says Kantrancha.
That won’t decimate the sector, though. Even after a slowdown from the strike is eventually felt, companies can shift their resources to other opportunities. “We’re highly focused on advertising, and the strike doesn’t affect that,” says Bacon. “Video games, we’re very deep in, and the strike doesn’t affect that.”
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.
Blue Raincoat Music co-founder Robin Millar will step down as the company’s chairman and take on a new role as creative consultant. Founded in 2014 by Millar and former Chrysalis CEO Jeremy Lascelles, Blue Raincoat Music began life as an artist management company before branching out into publishing in 2016 and, then, recorded music when it acquired Chrysalis. Reservoir purchased BRN and the entire Chrysalis catalog in 2019, but kept Millar and Lascelles on board to run day-to-day operations. In his new role, Millar will advise on creative decisions across the company’s roster and continue to oversee mixing and mastering operations across the company. He’ll also remain a director on the board and a significant shareholder across Blue Raincoat. “The simple fact is that Blue Raincoat would not be the company it is today without Robin’s involvement,” said Lascelles. “He has been an unbelievable partner, bringing relentless positivity, focus, and ambition to our plans. He has a brilliant business brain, is a fiercesome negotiator, and has been an inspiration to me and everyone within the company.”
Experienced music lawyer Lynn Gonzalez joined Granderson Des Rochers as a partner in the firm’s music practice group. Gonzalez is fresh off a decade-long tenure at Def Jam, where she rose to executive vp/head of business affairs and business development at the label. Prior to Def Jam, she worked in legal roles at Razor & Tie Entertainment and then Atlantic Records, where she also was a founding member and then president of the Black Women In Entertainment Law Foundation, providing mentorship and scholarships to women of color in entertainment law. At GDR, whose music-related clients have included J.Cole, H.E.R., J Balvin and Bernie Taupin, among many others, Gonzalez will work on matters including music publishing, licensing and intellectual property. “Joining GDR means joining a team that puts artists first – a mantra that resonates with me from my time working with labels,” Gonzalez said. “With this guiding principle in mind, together, we’ll protect their creativity and ensure they thrive in a music industry that celebrates their unique voices.”
Warner Chappell Music hired Rachel Jacobson to the role of svp, creative sync. In the newly created role Jacobson will oversee an also-new team that’s solely focused on sourcing and developing songwriters for creative opportunities in sync. “We’re reimagining our approach to the creative side of sync at Warner Chappell to better align with the rapidly evolving media and streaming landscape,” says Jacobson. –Kristin Robinson
Sound Talent Group added agent Jason Parent and his roster of bands to its ever-expanding New York office. Parent arrives after a decade at APA/IAG, where he developed acts including Meet Me @ the Altar, Cloud Nothings, Oso Oso, Grayscale and Kuckle Puck, among others — all of whom came with him. He joins Jake Zimmerman, Eric Powell and John Lashnits in the agency’s NYC outpost. STG made its debut in 2018 after Dave Shapiro, Tim Borror and Matt Andersen made for the exits — on good terms — at United Talent Agency. “When we had the chance to bring [Parent] to STG, we jumped on that opportunity,” said Anderson. “Jason is an incredible agent with an amazing roster of bands, and we’re excited to have him join the team.” STG’s current roster includes Black Veil Brides, Built to Spill, Calle 13, Dave Navarro, Eve 6, Gwar, Hanson, Ice Nine Kills, Killswitch Engage, Opeth, Saliva, Story of the Year, Vanessa Carlton, Zakk Wylde and hundreds more.
Downtown Music president Pieter van Rijn joined the board of directors of Downtown Music Holdings. Van Rijn, a regular fixture on Billboard‘s annual list of Indie Power Players, joined Downtown Music a year ago from FUGA, where he’d served as CEO since 2014. He joins Downtown’s existing board of directors, including independent directors Alison Moore and Kelli Turner, who joined in January 2022. “When we first set out to transform Downtown Music, our B2B division, into a fully integrated suite of business service offerings, we were fortunate to have such a strong executive in our organization who could help us execute on that vision,” said Andrew Bergman, CEO of Downtown Music Holdings. “The addition of Pieter to our board further demonstrates Downtown’s commitment and mission to empower creators and the businesses that serve them.”
Did someone say FUGA? The Downtown-owned distributor continues its expansion into Germany, Switzerland and Austria with the appointment of Desiree Vach as general manager of the Deutsch-speaking triad. In her new role, Vach will lead FUGA’s business development, service offering and brand presence in the region, as well as oversee the Berlin office. She reports directly to Liz Northeast, the svp of Europe, Middle East, and Africa. Vach joins FUGA following a nine-year tenure at Ingrooves Music Group, where she oversaw operations in the GSA region.
Change is afoot at German indie distributor Zebralution, with company co-founder Kurt Thielen announcing he’ll step down at the end of the year. Two industry veterans will fill Thielen’s considerable shoes: Konrad von Löhneysen, founder of the Embassy of Music label, will join as co-CEO in October 2023, while current Zebralution COO Tina Jürgens will also be promoted to co-CEO, effective in January. The shakeup portends the company’s international growth ambitions, and follows the expansion into North America earlier this year — led by co-founder Sascha Lazimbat as U.S. director and president. Founded in 2004, Zebralution currently has a portfolio of more than 3,500 labels and audio book publishers from all over the world. “I look back on 38 exciting years as CEO,” says Thielen. “I am immensely proud of what we have achieved with Zebralution as pioneers in the industry. I can’t think of a more opportune moment for this change in responsibility.
Kygo‘s Palm Tree Crew hired Karan Ram as president of its festivals and events unit. Ram arrives from touring festival specialists Breakaway, where as president he more than doubled the company’s events held in 2023. Prior to Breakaway, he founded Moment Entertainment, a producer of concerts and events on college campuses that was later acquired by Pollen. “We’re excited to welcome Karan to Palm Tree Crew and to have him bring his expertise and passion to our team,” said Myles Shear, co-founder of Palm Tree Crew. “As the President of Palm Tree Crew Festivals and Events, he will play a pivotal role in scaling our brand to even greater global heights.”
ICYMI: Warner Music hired 30-year Disney veteran Bryan Castellans as the label group’s next executive vice president and chief financial officer, effective Oct. 16 … Monica Damashek has been named head of label partnerships of North America for Spotify. She succeeds Vic Trubowitch, who has moved to the music product strategy … Warner Chappell Music locked down Guy Moot and Carianne Marshall, CEO and COO, respectively, until late March of 2028 … and Jann Wenner was swiftly excised from the Rock & Roll Hall of Fame Foundation board of directors after making inflammatory remarks about Black and women artists.
Melissa Maskan joined boutique indie publisher OTM as head of North America and svp of creative. Based in L.A. and reporting directly to OTM founder Alex Sheridan, Maskan will manage the org’s U.S. efforts, namely sync and A&R. She joins after six years as evp of A&R at Third Side Music, where she helped to develop all-cappers SOFI TUKKER and ODESZA, among others. Supporting Maskan at OTM will be Rob Hunt (head of A&R) and Emily Keating (svp of sync). “[Maskan] heading up our US business will add immeasurable value to our offering there and now provides OTM with a platform for further growth,” said Sheridan.
Production music company FreshTracks Music added three new executives to its recently launched UK division. Tayo Kazzim joins as head of sales after stints at PRS for Music, Imagem and Extreme Music; Josie Kiely is the new senior client account manager, following roles at Warner Chappell and PPL; and Charley Dunlop serves as client account manager, having previously worked at Sky, KPM/EMI and BAM.
ESMAA, the Gulf-based music rights organization, appointed Saqer Al Qassimi as head of business development and government relations. The Emirati national is tasked with growing membership and supporting the org’s licensing efforts throughout the UAE and Gulf region. ESMAA claims to be the only music organization of its kind in the Gulf — in that it works with international entities whose disciplines focus on either performing, mechanical and/or neighbouring rights in order to find solutions to simplify music licensing in the region.
Last Week’s Turntable: GoodTalk Takes Shape
Sibling duo Mau y Ricky launched their new independent label, Why Club Records, in partnership with Warner Music Latina. According to a press release, the new imprint will not only act as a home for the duo — who were previously signed to Sony Music Latin — but will also “look to impact culture through music with a purpose, supporting artists who have something to say and want to break through the mold.” About Why Club Records, Mau y Ricky said: “We trust [Alejandro] Duque and [Roberto] Andrade as the ideal partners for this new stage. We are working on the most important album of our career so far.” The Miami-based duo’s first single under the new label, “Vas a Destrozarme,” will drop Oct. 5. – Griselda Flores
Round Hill Music acquired Austin-based neighboring rights agency Rident Royalties, which deals with film/TV composers and production music. With the acquisition, Round Hill’s existing neighboring rights platform, Sound Hill, expands to more than 1,200 performers and 120 record labels. The deal also allows it to tap the production music and TV/film score neighboring rights markets and expand into additional territories. Rident Royalties owner/president Chris Kennedy will serve as co-head of Sound Hill alongside Róisín Brophy.
Virgin Music partnered with independent publisher, record label and management firm Position Music, which boasts a catalog of more than 35,000 songs. Under the deal, Virgin Music will distribute Position Music’s new releases and existing catalog while helping to market, promote and develop Position’s frontline label roster, which includes artists, songwriters and producers such as Judah & the Lion, Kyle Dion, Ryan Oakes, Kid Bloom, Layto and Fantastic Negrito.
Atlanta-based management company Crown World Entertainment, founded by CEO Vincent Searcy, acquired Indie Distro and, with the purchase, launched Crown World’s new independent distribution arm, CWE Distro. The company will now offer music distribution to all streaming platforms as well as data insights, brand strategy, digital marketing, synch licensing, neighboring rights and content monetizations. For $29.99 a year, emerging artists who sign up for CWE Distro will keep 100% of their royalties, receive guaranteed distribution to more than 50 digital service providers and more. Plans for established artists are available by invitation and require no subscription fee. The first releases from CWE Distro are “Find Someone” by singer-songwriter Eric Bellinger and WifeyBaby’s “Stingy.”
Independent podcast company Acast partnered with royalty-free music platform Slip.Stream in a deal that will allow Acast podcasters to access more than 70,000 songs for use in their content. All 100,000 Acast podcasters will receive “Pro Level” access to Slip.Stream free for six months and a discount offer to upgrade to an annual Pro plan after that.
In other Acast news, the company partnered with podcast network Luminary to expand the reach of selected Luminary Original podcasts. Under the agreement, five shows — including Joking Not Joking with Mo Amer and Azhar Usman and How I Masaba with Masaba Gupta — will be made available to listeners across all platforms via Acast. Additionally, Acast will serve as Luminary’s exclusive monetization partner for these podcasts across all platforms. Luminary will also utilize Acasts’s recently launched Acast+ Access capability to allow listeners to access exclusive content on the listening app of their choice.
ASM Global will operate the new, 185,000-square-foot Henrico Sports & Events Center slated to open at Virginia Center Common in Glen Allen, Va. in October. The Henrico Sports & Entertainment Authority board of directors, which oversees the center, approved an initial five-year contract in July, with the option to extend it annually for up to five additional years. Under the deal, ASM Global will provide staff and oversee the venue’s day-to-day affairs, including managing the box office, contracting with vendors, handling maintenance, event management, food and beverage concessions and licensing and permits. The Henrico Sports & Entertainment Authority will continue leading on scheduling to make sure the venue, which boasts a capacity of 3,500, is available for county events including high school graduations and tournaments. ASM Global will help to fill off-peak times with local programming including sports clinics, leagues and camps.
Also in ASM Global news, the company secured venue operations and management rights for Connect Conference Centre (known as C3 and formerly known as Opportunity Pavilion) in its second Dubai-based deal after the Coca-Cola Arena. Located in Expo City Dubai, C3 will host a number of events for the upcoming United Nations Climate Change Conference (COP28) which runs from Nov. 30-Dec. 12.
Lastly at ASM Global, the company renewed its management deal with the 475,000-square-foot Huntington Convention Center of Cleveland for five years. Forthcoming plans at the venue include the creation of a Sky Lounge with a view of the Rock and Roll Hall of Fame and Lake Erie.
Dreamus, a Korean entertainment company and subsidiary of Korean multinational SK Planet that handles distribution and events for K-pop artists including Twice, Psy and MissA, is now using the cryptocurrency and blockchain platform Avalanche. Under the partnership, users of Dreamus’ ticketing app OK Cashbag can now buy Avalanche-backed tickets, allowing Dreamus “to build a ‘Blockchain Ticket Total Solution Service,’” according to a press release. The company will use Avalanche to enable easy digital transactions, get around scalpers, stop secondary market abuse and address issues around counterfeit tickets. Dreamus plans to launch a secondary ticketing marketplace later this year.
House music label Defected Records partnered with demo submission platform LabelRadar, which is under the umbrella of The Beatport Group’s music services division. Under the deal, Defected and its sub-labels (including D4Dance, DFTD, Glitterbox, Big Love, Soulfuric, Nu Groove, Classic, 4TTF, DVINE Sounds, Stay True Sounds and The Remedy Project) will now field demo submissions from artists around the world via LabelRadar’s streamlined process. This marks the first time in Defected’s history that the label has allowed demo submissions.
Amazon Music is the exclusive livestream partner of this year’s Life is Beautiful Music and Art Festival, which returns to Downtown Las Vegas for its 10th anniversary Sept. 22-24. Sponsored by JBL and Boost Infinite, the livestream will be available on Prime Video and the Amazon Music channel on Twitch starting at 5 p.m. PT each day of the festival.
Afterparty, a platform that scales one-to-one fan interactions for creators, has raised $5 million in funding in a round led by Blockchange Ventures with participation from existing investors Acrew Capital, Act One Ventures and Tamarack Global along with new investors Wilson Sonsini and Vinny Lingham. Afterparty will use the funding for product development, including AI voice, photo and video messaging. The new AI platform, dubbed Afterparty AI, will give fans “24/7 on-demand access to conversations with their favorite creator’s AI,” with images and videos created with the platform becoming “one-of-a-kind collectibles unique to each fan who generates them – all of which are verified on the blockchain and can easily be shared on social platforms,” according to a press release. Each interaction and piece of content fans share becomes a “point of access” to exclusive experiences allowing them to connect with creators one-to-one.
Live Music Society, a non-profit that has given over $3 million in grant funding to small venues and listening rooms across the United States since 2020, has partnered with international music residency The House of Songs to reestablish the latter’s presence in Austin. Under the deal, House of Songs — which has brought together artists from over 30 countries for songwriting sessions — will establish a new hub in Austin after pulling out of the city during the pandemic.
Levellr, a company that helps artists use messaging tools like Discord to reach fans, raised a $1 million pre-seed round led by Crush Ventures. The company’s clients include Fred again.., Pink Pantheress, Gorillaz, Swedish House Mafia and Maisie Peters. The money will be used to hire additional employees and grow into new verticals including sports and gaming.
Music rights and metadata management software platform Orfium signed an agreement with Japanese entertainment company Avex to manage its music catalog on YouTube. Under the deal, Orfium will work to maximize the monetization of Avex’s repertoire using its AI-based matching technology.
Music financing service RoyFi teamed with earthprogram, a quasi-record label and provider of business development solutions for the music industry. Under the partnership, artists can apply to access funds directly through RoyFi via the new earthprogram website, allowing a “consistent through line of support and career development from the beginning of consultancy with earthprogram through capital provision and financial literacy education with RoyFi,” according to a press release.
Instrument brand Gibson and its charitable foundation, Gibson Gives, partnered with Purdue Polytechnic Institute’s School of Mechanical Engineering Technology (MET) program that will provide experiential learning to students in MET’s guitar lab. Via Gibson Gives, Gibson will gift guitars from its collection to be showcased in the class’ lab; provide direct monetary support to the Purdue guitar lab to ensure it remains operational throughout the year and facilitate the hiring of undergraduate teaching assistants; assist in providing essential lab supplies and materials required to design and manufacture stringed instruments; and provide insights and experiences from Gibson’s trained luthiers and executives throughout the semester. Support will extend at least through the 2023-24 academic year.