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Billboard is introducing a peer-voted award to run alongside its annual R&B/Hip-Hop Power Players list of the genres’ most influential executives. This new R&B/Hip-Hop Power Players’ Choice Award will honor the executive in the genres whose peers believe has had the greatest impact across the music business over the past year, from recording and publishing […]
Shares of Cumulus Media gained 9.7% this week, the leading stock in the Billboard Global Music Index and one of only four stocks in the 21-company index to end in positive territory Friday (June 23).
Overall, the Billboard Global Music Index declined 3.5% to 1,287.41 — more than double the 1.4% declines of the S&P 500 and Nasdaq. Music stocks were more in line with the Nasdaq when the overpowering effects of a small number of tech companies are removed, however. That’s because a few powerhouses — such as Microsoft, Apple, Alphabet and Amazon — often account for a large fraction of the Nasdaq’s gains. To that point, QQQE, an exchange-traded fund that gives equal weight to 100 Nasdaq stocks, declined 2.9% this week.
In the United Kingdom, the FTSE 100 declined 2.4%. South Korea’s KOSPI index fell 2.1%. Central banks in England, Turkey and Norway raised interest rates this week. Investors can reasonably expect more rates hikes in the United States, too. Federal Reserve chairman Jerome Powell said on Wednesday the central bank may continue to raise rates — there have been 10 since March 2022 — but “to do so at a more moderate pace.” When central banks raise interest rates, stocks tend to fall because businesses and consumers are expected to cut back on spending and higher rates make bonds relatively more attractive to stock returns.
Cumulus Media improved to $3.40 a week and a half after the company announced it will sell about 1.75 million Class A common shares — nearly 10% of outstanding shares — at $3.25 per share in a modified Dutch auction that closed on June 9. While the sale will gross about $5.7 million, not including fees and expenses, the final result was well below the company’s goal to sell up to $10 million of shares as part of a previously announced $50 million share repurchase plan.
Shares of French music streaming company Deezer gained 3.6% to 2.32 euros ($2.54), bringing the stock’s year-to-date loss to 20.5%. U.S. streaming company LiveOne gained 3.3% to $1.58. Year-to-date, LiveOne has gained 145.3%. The only other company with a week-over-week improvement was South Korea’s HYBE, which improved 1.2% to 301,000 KRW ($236.91).
The other three Korean music companies declined this week: SM Entertainment and YG Entertainment each fell 5.6% and JYP Entertainment dropped 3.5%. Still, K-pop has been a resounding success for investors in 2023. Led by JYP Entertainment’s 93.7% year-to-date gain, the four Korean companies’ stocks have risen an average of TK% in 2023.
One company, Anghami, was unchanged and the index’s other 16 stocks were in negative territory this week. MSG Entertainment had the Billboard Global Music Index’s largest decline after dropping 17.1%. Sphere Entertainment Co., which spun off MSG Entertainment in April, intends to sell part of its 33% stake in MSG Entertainment. The news dropped the live entertainment company’s share price 12.1% on Wednesday. At Friday’s closing price, Sphere Entertainment’s sale of 5.25 million shares would gross about $170 million that could help fund the state-of-the-art Sphere at The Venetian Resort in Las Vegas that’s set to open in September.
Rihanna’s lingerie brand, Savage X Fenty, has a new CEO: Hillary Super, former CEO of Anthropologie Group and a veteran of such apparel companies as Guess, American Eagle and Gap. According to various reports, Vogue Business, Rihanna will remain the company’s executive chairman. Explore Explore See latest videos, charts and news See latest videos, charts […]
Sunset Blvd. Records hired Tim Devine as the label’s new head of A&R. He’s already signed a trifecta of ’90s alt-rockers to the imprint: Everclear, Fastball and Butthole Surfers. Devine is perhaps best known for his integral role in reviving Bonnie Raitt’s career at Capitol Records — read about their Nick of Time triumph here — and for A&R’ing Brandi Carlile at the dawn of her career, as well as his work with Blind Melon, Katy Perry and Train. He began his career in product management at Warner Bros. Records before taking on an artist development role at MCA Records and later as vp of A&R at Capitol, where he signed Raitt and worked albums by the Beastie Boys and Paul McCartney, among others. He recently served as West Coast GM of Columbia Records. “Everyone is taking my calls,” Devine says of his new role, “and this position fits my skill set like a glove. I look forward to building the next chapter of SBR’s success.”
Valérie Bernard joined Deezer earlier this year as its chief human resources & sustainability officer. In her Paris-based role, the HR veteran is tasked with all things talent acquisition, employee development and performance management, along with developing initiatives to match the company’s environmental, social and governance goals. She arrived at the streaming service from Richemont Group, and earlier was human resources director of Canal+ International. Bernard reports directly to Deezer CEO Jeronimo Folgueira, who says she’ll “be a key player in continuing to build an open, inclusive and vibrant culture at Deezer.”
SiriusXM and Pandora have promoted Rachael Spangler to head of music talent relations and Azu Olvera to head of Latin music talent booking. Spangler and her team of eight are in charge of booking artists for interviews, live performances and other various programming and events for the satellite radio giant. She began her career at Epic Records. Olvera recently installed a massive feather in her cap for her role in opening the new SXM Miami studio and office, and the launch of the ‘Hits Uno’ channel. “We’re not thinking of Latin as a backseat but as a driver of success and engagement,” she told Billboard of the launch, which included an intimate performance by Carlos Vives, an interview with Pitbull and a Becky G town hall-style conversation.
Warner Chappell Music upped Wallace Joseph to senior vp of A&R and Jon Chen to vp of A&R. Joseph is best known for his work with some of R&B and hip-hop’s biggest talents, including Summer Walker, Wale, Ari Lennox, JetsonMade and Tay Keith. Chen has fostered a diverse roster of boundary-pushing music makers, including Ian Kirkpatrick, Benson Boone, BEAM, Sir Nolan and Ashnikko. The two will continue to report to Ryan Press, president of North America, to continue to expand WCM’s roster. –Kristin Robinson
Jan Fischer was promoted to CEO of EMP, the European specialty music and entertainment merchandise e-tailer acquired by Warner Music in 2018. Fischer has been helping to lead the company, where he has been both CFO and COO, since the departure of Ernst Trapp last month. Fischer has been part of the EMP team since 2013 and is based out of Lingen, Germany, reporting to Karl Walsh, executive vp and head of global commerce for WMG. In recent years, the standalone unit has worked with acts including Panic! At the Disco, Metallica and Guns N’ Roses, along with major brands like Disney and Marvel, to launch a network of merch websites that serve millions of customers.
Veteran music and tech PR executive Jason Roth is Wasserman Music‘s new vp of communications, overseeing the fast-expanding talent agency’s comms strategy and industry relations, among other duties. Roth has held senior roles at a who’s-who of media and tech companies, including SiriusXM, Pandora, Hewlett-Packard, Apple and Capitol Records. At the Cupertino outfit, Roth led global communications during a major expansion of iTunes and the launch of the App Store. His work at Capitol included publicity wins for The Beatles, LCD Soundsystem and Liz Phair, among others. He’s also a writer, with clippings from numerous publications including Spin, The Chicago Tribune and NPR Music, where he profiled the J. Geils Band’s signature hit.
Marguerite Jones was named vp of A&R at Republic Records, where she will oversee the overall direction of A&R strategy and work on projects for artists across hip-hop, R&B and pop. Based in Los Angeles, Jones joins the UMG powerhouse after a productive four years at Sony Music’s RCA Records, where she rose from intern to manager of A&R and singed Latto in the process. “MJ has established herself as one of the industry’s most prescient and forward-thinking A&R executives,” said label co-president Wendy Goldstein. “She has been instrumental to culture-defining breakout talent, and her ability to spot greatness is already proven.”
Also this week… Sony Music hired BPI’s Geoff Taylor for a first-of-its-kind AI role, TikTok COO V. Pappas stepped down and Tina Davis was named president of EMPIRE.
CAA has promoted Yasi Agahnia, Logan Binstock, Abe Coelho, Ryan Quint and Karen Schillinger to agent roles across various division, and Erik Toral to executive in global client strategy. In terms of disciplines, Agahnia (Los Angeles) works in the music touring area’s private events division; Binstock (LA) works with high-profile agent Christian Carino to create new business opportunities for their clients; Coelho (LA) is in the media finance department, specializing in independently financed films; Quint (LA) works in the comedy touring department and reps Craig Ferguson, Ron White and Nurse Blake, among others; and Schillinger (Nashville) is in the music touring division. As for the LA-based Toral, he will work on creating cohesive brand strategies and launching talent-led business endeavors for CAA talent. All six of the newly promoted team members come from CAA Elevate, the agency’s overhauled agent trainee program.
Anna Lisle joined Alternate Side Management, the US-based full-service management company that’s home to leading LGBTQ+ artists Meet Me @ The Altar and Cavetown. Lisle arrives from 7DS Management and brings artist Summer Salt to ASM and will take on Madds Buckley and co-manage Roekapara and Daisy Grenade. Alternate Side also recently hired John Helps, a day-to-day manager based in London and a member of post-rock band Maybeshewill. Helps works under artist manager Cory Hajde.
Michael Sherman was promoted to vp of business development at music marketing firm feature.fm, where he’ll zero in on emerging trends, conduct market research and lead negotiations with potential partners. In his previous role as director of biz dev, Sherman “spearheaded strategic initiatives to drive the company’s growth and expand its reach in the music industry,” the company said. Sherman is based in Los Angeles.
DICE appointed music industry veteran Caron Veazey to its board of directors. Veazey founded Something In Common, a management and consulting agency specializing in music, film, art and culture. Previously, she managed Pharrell Williams for nearly a decade.
Nashville Bites: Grace Watson joined Black River as senior director of streaming and revenue. She arrives from Universal Music Group’s Nashville-based Capitol Christian Music Group, where she served as manager of commercial partnerships … Warner Chappell Nashville A&R manager Bethany Mako returns to the company, where she formerly interned. Mako was working as Songs & Daughters A&R manager … Shore Fire Media promoted Nashville-based Nick Jurich to junior account executive from publicity assistant. The division’s current clients include LANCO, Dillon Carmichael and Chase Matthew … Nashville-based Gibson Brands promoted Beth Rasnick to chief of staff to the CEO. Her previous roles in the company include director of strategy and projects. –Tom Roland
BMG has acquired a major interest in Paul Simon‘s portion of the Simon & Garfunkel catalog. This sale includes the Grammy winner and two-time Rock & Roll Hall of Fame inductee’s royalty income for all of Simon & Garfunkel’s recorded music as well as his neighboring rights income to that music as well. Simon & […]
MusiCares announced the launch of Humans of Hip Hop on Thursday (June 22). The program is focused on providing resources tailored to the needs of the hip-hop community nationwide with an initial focus on eight key cities – Atlanta, Chicago, Detroit, Los Angeles/Compton, New York, Oakland, Philadelphia, and Washington D.C.
“Like so many other communities post-pandemic, the hip hop community is in need of support,” Rico Love, the Miami-based chair of the Recording Academy’s Black Music Collective, said in a statement. “I’ve heard my community voice their needs. With MusiCares and Humans of Hip Hop, I’m excited to work directly with artists and change-makers to get people the services that will really make a difference in their lives.”
A MusiCares spokesperson clarified that while the Black Music Collective played a key role in the creation of this program, the program is open to all members of the hip-hop community. “The Humans of Hip Hop program was created to achieve greater reach within a specific genre of music. Any person who identifies as part of the hip-hop music community can participate, regardless of race, age, gender, location or music profession. MusiCares is trying to reach people making hip-hop music and make sure MusiCares is addressing their needs.”
Humans of Hip Hop will bring programming to key cities over three years. The focus is on fostering long-term relationships to continue building MusiCares programming that is responsive to the needs of the hip-hop community.
Between August 2021 and July 2022, one-fifth of all MusiCares clients identified as Black music professionals. A MusiCares spokesperson says: “This statistic demonstrates that MusiCares serves a significant portion of clients from the Black music community. The program’s goal is to gain even further awareness for MusiCares’ services within a specific genre, open to all races.”
MusiCares will add a full-time project lead for Humans of Hip Hop to serve as the day-to-day focal point for building inroads and maintaining partnership with the hip-hop community.
“MusiCares is grateful to our sponsors and artist advocates for helping us kick off this program,” Laura Segura, executive director of MusiCares, said in a statement. “This work will allow us to zero in on the unique needs of the community and continue our work creating meaningful services driven by leaders and advocates of hip-hop.”
“We are thrilled to see this important initiative for our music people in the hip hop community come to life,” Harvey Mason jr, CEO of the Recording Academy and MusiCares, said in a statement. “Providing the resources and services needed will ensure the community knows their voices are being heard.”
Ticket marketplace Vivid Seats is the program’s supporting partner. Vivid Seats has partnered with MusiCares since 2020, sponsoring COVID-19 and natural disaster relief efforts.
To be eligible for MusiCares assistance, applicants must be able to document employment history through a minimum of five years employment in the music industry or six commercially released recordings or videos. MusiCares may grant short-term financial assistance for personal or addiction needs that have arisen due to unforeseen circumstances. Funding may also be awarded to help with needs such as rent, car payments, insurance premiums, utilities, medical/dental expenses, psychotherapy, addiction treatment, sober living, and other personal expenses.
For more information about the Humans of Hip Hop program, visit musicares.org.
SRMG, the largest integrated media group from the Middle East/North Africa region, has partnered with Billboard to launch Billboard Arabia. The newly launched platform is dedicated to celebrating artists with Arab roots by spotlighting their music and promoting personal stories on a global stage.
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Billboard Arabia aims to be the premier global destination for artists with Arab roots – bringing the latest releases, reviews and interviews from the biggest names, exclusive coverage of regional and global events, original photography and special video content together in one centralized location. Billboard Arabia will launch several charts over the next year, utilizing data from the top digital streaming platforms such as Spotify, Anghami, YouTube and others, to highlight the artists and songs driving the global and regional music industry.
Billboard Arabia will celebrate and amplify the work of Arab artists for a global audience by republishing content across Billboard’s digital products. It will also host the Billboard Arabia Music Awards, as well as live concerts, activations, and regional and international events to celebrate all music genres and the artists that are inspiring innovation in the industry.
According to the International Federation of the Phonographic Industry, MENA (Middle East/North Africa) is the fastest-growing music region in the world. In 2022 alone, a handful of rising Arab artists garnered more than 1 billion streams, demonstrating the significant potential of the music market in the MENA region.
“The music scene in the MENA region is rapidly transforming,” said Jomana R. Al-Rashid, CEO of SRMG. “However, there is currently no dedicated platform to spotlight and tell the stories of the Arab artists leading innovation in the global music industry. Our partnership with Billboard will help fill that void in the market. Billboard Arabia is more than just a digital platform. It will be the premier destination to celebrate the Arab music community and empower the business of music through data-driven charts, live concerts and awards. Our vision at SRMG is to ensure that creators and audiences have increased access to high-quality, original content and impactful experiences.”
“We are excited to join forces with SRMG to launch Billboard Arabia,” said Mike Van, president of Billboard. “Billboard has a strong legacy of recognizing and amplifying artists across genres, languages, and cultures with a mission to share the power of music with new fans everywhere. SRMG’s reach and access in the region coupled with our experience will ensure artists with Arab roots are heard around the world.”
Billboard Arabia was announced Wednesday (June 21) from the SRMG Beach at the Cannes Lions International Festival of Creativity. As part of the announcement of Billboard Arabia, several artists from MENA are joining SRMG in Cannes to celebrate the diversity of sounds from the region, including performances from Elyanna, Felukah, Kouz1, DJ Outlaw, Jeed, Moayad Al Nefaie, Flipperachi, Meshaal and DJ Rodge.
Billboard Arabia is now live across Twitter, Instagram, Facebook and YouTube, all at the @billboardarabia handle.
Street Mob Records has signed a worldwide deal with Cinq Music to distribute the label and expand its opportunities in branding, sponsorships, merchandising and synchronization. The deal will also include new talent discovery for Street Mob Records.
Founded by Fuerza Regida’s frontman Jesús Ortiz Paz (a.k.a. JOP), Street Mob Records’ artists include Chino Pacas, Calle 24, Ángel Ureta, Chuy Montana, Linea Personal and more rising regional Mexican music — or música mexicana as it is also called — acts.
“We have worked with Cinq for years and know that they’re committed to the genre,” said Paz in a statement to Billboard Español. “It’s only natural that we should partner with them to grow and expand Street Mob – combining their infrastructure, experience, and reach with our talent.”
“We bet on people, not just music, and it’s obvious that Jesus Ortiz Paz is going to carry his success as an artist into his label,” added Cinq Music president Barry Daffurn. “We are excited to team up with Street Mob Records to accelerate their growth. Cinq already brings billions of streams a month to the music world – now, we’re going to add incredible fuel to that fire with these important artists.”
Since 2018, Cinq Music has also been working with Rancho Humilde — Fuerza Regida’s label — another independent label at the forefront of música mexicana’s recent growth.
“Regional Mexican [music] is one of the hottest and fastest genres in the world right now, so to have that relationship with someone like Jesús means a lot to us,” continued Daffurn. “From the time we first started working in regional Mexican music, and the first time I sat down with Jimmy [Humilde] of Rancho Humilde, our goal was to bring this music global. The vision at that point was not to make it regional Mexican music, but more música mexicana, expanding it outside that network, to all the countries outside of [Latin America.] Corridos are leading that global expansion.”
Earlier this month, Street Mob Records and Cinq Music teamed up to release Chino Pacas’ “Yo Preferí Chambear,” which was the premiere of their new partnership. The video already racked up 2.1 million views on YouTube since it dropped 11 days ago.
In March, Chino Pacas entered the Billboard Hot 100 with “El Gordo Trae El Mando,” the artist’s first entry in the historic, all-genres chart.
“We’re operating as a distributor, from a technical standpoint, but as a company, we don’t work with everyone. The artists and labels that we do work with are very high touch,” said Daffurn. “We’re helping them with administrative support, full service marketing, and there’s money involved to make investments so they can build their own infrastructure and grow that way.”
Fuerza Regida earned its first entry on Billboard Hot 100 in January with “Bebe Dame” alongside Grupo Frontera, a romantic cumbia jam with a grupera swing that peaked at No. 25. Since then, they’ve placed three other tracks on the all-genres chart, “Ch y La Pizza” with Natanael Cano, “Igualito a Mi Apá” with Peso Pluma, and their latest “TQM” on their own.
Garage rock revivalists The Hives and their management company, ATC, signed with music distributor FUGA to release the band’s first album in over a decade. The Death Of Randy Fitzsimmons arrives Aug. 11, though the group has already released two singles with videos — the scorchers “Bogus Operandi” and “Countdown to Shutdown.” The sharp-dressed Swedes, who made a splash in the early-aughts with singles including “Hate to Say I Told You So” and “Main Offender,” haven’t released a new album since 2012’s self-released Disque Hives. “Bridging the gap between old and new, FUGA’s digital-first approach will help lead The Hives into this new era of music consumption, and allows us the flexibility and transparency the band were looking for with their new release partner,” said Matthew Greer of ATC.
Synthpop confectioners Magdalena Bay signed with Mom+Pop Music. The duo of Mica Tenenbaum and Matthew Lewin recently played Coachella, with Lollapalooza on deck later this summer, and are coming off the April release of digital EP Mini Mix Vol. 3 and its accompanying VHS-quality video. The band’s debut album, Mercurial World, was released in October 2021 by Luminelle. Details on their upcoming Mom+Pop releases will be announced later this year, the label said.
Red Dirt mainstays Josh Abbott Band signed with Make Wake Artists / Deep Roots Management. The Texas road warriors will be co-managed by Make Wake’s Chris Happy and Deep Roots’ Dylan Wright and be day-to-day’d by Make Wake’s Eric Berger. Since singing with new management — they were previously with Triple 8 — the band has dropped two singles off their Pretty Damn Tough imprint: “Country Nights” and “My Dad And His Truck.” JAB’s agent remains Henry Glascock at WME.
Rapper-producer Cash Cobain signed to Giant Music, the label venture launched last year by Irving and Jeffrey Azoff. The NYC artist’s first release on Giant, “Slizzy Gods,” dropped last month. Giant Music’s roster includes Tay B, Ayleen Valentine, K.Flay, New West (with Republic), and SwaVay (with Def Jam). Cash’s managers are Makeda Tewodros, Glyn Brown and Will Foster.
Nashville (by way of Long Island) singer-songwriter Ben Goldsmith signed with Sony Music Nashville, UTA and Universal Music Publishing Group Nashville, and over this past weekend played a little festival called Bonnaroo. Not bad for an artist who graduated high school less than two weeks ago. Goldsmith has released four tracks to date, the most recent being the big-voiced ballad “Flowers In Your Hair,” which’ll be part of his debut album, The World Between My Ears, coming Sept. 22. He is managed by Mike Crowley of Crowley Artist Management.
Chris Lane established his own label, Voyager Records, and formed a partnership with Jay DeMarcus’ Red Street Records ahead of new music. The country star previously was signed to Big Loud, scoring three No. 1s on Country Airplay — most recently with 2019’s “Big, Big Plans” — and a pair of No. 8s on the Top Country Albums chart. In explaining his pair-up with Red Street, Lane said the label “supports my vision for music” and called DeMarcus a “great friend.”
Nashville-based alternative pop group Nightly signed with ONErpm, which will release their sophomore album Wear Your Heart Out on Aug. 25. The trio consisting of Jonny Capeci, Joey Beretta and Nick Sainato have been featured on a slew of tracks in recent years, including by Ayokay (“Sleepless Nights,” “Amnesia”), NOTD (“About You”) and Vaultboy (“why u gotta be like that”). They recently dropped the up-tempo title track off the upcoming album. Nightly’s manager, Nikki Boon of Neon Coast, commented, “Because of the quality of Nightly’s new music and their headline touring alongside our new partner ONErpm, we believe that Nightly is poised to have their biggest year yet and grow their fanbase on an even larger international level.”
Seattle hardcore band Filth is Eternal has signed with MNRK Music Group for a worldwide deal ahead of new music this fall. Scott Givens, MRNK’s senior vp of rock & metal, says, “Filth Is Eternal are an amazing band and an amazing addition to our roster. MNRK Heavy is committed to breaking new artists, and we look forward to working together with the band to bring their artistic vision to the masses.” FIE are managed by Mike Messina at Quiet Panic and booked by Ian Koletsis aT Sound Talent Group.
Singer-songwriter Kyla Imani signed with PULSE Music Group and Stargate as part of their LAAMP Music initiative for new talent. Imani, a NYC native, has already reeled in millions of streams for her songs, including “These Boys Ain’t It” and “it’s not that deep.” — and earlier this month released the track “21 Forever.” She is managed/booked by L. Londell McMillan and The NorthStar Group.
Virtual characters Jun Akane and Yuki Kitashiro have been added to the roster of the PRISM Project, a virtual talent management agency in the Sony Music Entertainment family of virtual talent brands.
Music City Signings: Concord Music signed Lindsay Ell to a publishing administration deal … Singer-songwriter Joey Hendricks reached a joint-venture publishing agreement with Warner Chappell Nashville and daschent … Houston native Triston Marez inked a management contract with the Erv Woolsey Co.
D. Tobago Benito started his first brick-and-mortar record store in Atlanta in 1996. At the time, “there were about 400 to 500 Black-owned record stores around the country,” he recalls. “There were a lot of conferences. When I came in, senior store owners took me under their wing and showed me how the business operated.”
Benito’s still in physical retail 27 years later, running DBS Sounds. But the pool of Black-owned record stores has been decimated, falling to around 70, according to his count. (Some think it’s closer to 60.) Depending who you ask, there are between 1,800 and 2,100 independent record stores in the U.S., which means that Black-owned outlets now represent just a sliver of this market.
The decline is at odds with the popularity of Black music. R&B and hip-hop’s share of overall consumption was 26.8% in 2022, according to Luminate. While R&B and hip-hop doesn’t fare as well in the physical market, it still accounted for 14.3% of physical sales last year. Yet “we make up about 3% of the record stores out there,” Benito says. “It’s unacceptable. There are major markets around the country with no Black-owned stores: Birmingham, Nashville, Charlotte.”
“The numbers are astounding,” adds Sharod Bines, owner of Retrofit Records in Tallahassee, Florida. “A generation ago, it was not as uncommon to be a Black record store owner.”
While vinyl sales have been growing for 17 consecutive years, this rising tide hasn’t yet led to a major lift in the number of Black store owners. Benito is spearheading an effort he hopes will change that: In 2021, he joined with more than 20 other Black-owned stores to create the F.A.M.S. Coalition (Forever a Music Store). Some of the hurdles facing Black record stores are systemic — the racial wealth gap, gentrification, bias in the loan-application process. But for outlets that have overcome these obstacles, F.A.M.S. is intent on gaining more support from the music industry. This could be financial assistance as well as windowed exclusives, vinyl variants and release parties pegged to notable albums that might boost the presence of coalition members.
“We need people like Tobago to push to say, ‘we’re here, we’re growing, and we need equality,’” says Drew Mitchell, owner of 606 Records in Chicago. “We need to make sure there is equal opportunity for minority-owned stores — in the music business and in any business.”
In the early ’90s, “Black independent stores were really thriving, and they were an important part of the ecosystem when it came to breaking records,” adds Steve Corbin, Warner Music Group’s senior vice president of sales, counsel and culture. “We are in discussions with [F.A.M.S.] and working with them, whether it’s mentoring store owners or figuring out other ways to get involved with the community.”
One of the coalition’s biggest wins to date came when Beyoncé released the vinyl version of Renaissance in October 2022; F.AM.S. stores were given the chance to sell the LP a week before their peers. At the time, the coalition contained 26 stores — it’s now at 22 — which sold more than 1,000 copies of Renaissance combined. “That was huge for us,” says Marketta Rodriguez, a F.A.M.S. member from Houston who runs Serious Sounds. The first week of June, F.A.M.S. stores were able to boost their profile by hosting listening parties for Janelle Monae’s The Age of Pleasure three days before the album hit streaming services.
Some Black-owned stores serve up all styles of music — “I cover as many bases as possible,” Bines says — while others focus on historically Black genres. The latter camp faces a challenge as it tries to stabilize and ultimately grow. “There is a lack of new releases and catalog that are not available physically in rap and R&B,” explains Steve Harkins, vp of sales and marketing at Ingram Entertainment, the distributor that has been working closely with F.A.M.S. “It’s getting better with new releases, but these stores need more product in the marketplace. And this is also product that would benefit other independent stores as well.”
D. Tobago Benito
Raphael Simien
Rap was quick to embrace the digital economy — first through free download sites like Datpiff, which hosted copious amounts of mixtapes, and then through streaming, where hip-hop soared. But perhaps as a result of this success, the genre hasn’t paid much attention to the old-fashioned physical market. Harkins notes that “labels have said they’ve had challenges convincing artists and management to release their titles physically in some cases.”
While Tyler, the Creator and Kendrick Lamar have both sold heaps of vinyl, many major rappers still don’t release actual LPs. Often they would “rather put their money into music videos and digital marketing,” says Nima Nasseri, who manages the producer Hit-Boy. And vinyl still requires long lead times — it could be three to four months — which is a drawback in a genre that has thrived thanks in part to its relentless release pace. “By the time that a project is out, the majority of these artists are already working on the next project; they’re just over it,” says Aaron “Ace” Christian, who manages the rapper Cordae.
But around half of vinyl buyers don’t even own a turntable, according to Luminate, suggesting that fans want to support artists they favor through physical purchases even in cases when they can’t actually play the record they buy. And “especially when it comes to recouping, vinyl can put a huge dent in whatever you’re owing to these labels,” says Justin Lehmann, founder of Mischief Management. “It’s a missed opportunity for other artists if they’re not taking advantage of that,” he adds.
Lehmann has worked with his client Aminé to put out a vinyl version of every one of the rapper’s albums. Same goes for Cordae. “We sold out everything,” Christian says of his client’s LPs. “Fans like the memorabilia aspect of it.” “The popularity [of vinyl releases] is rising,” Nasseri adds. “Doing 1,000 copies for the diehard fans is a smart move.”
On the catalog front, some Black record store owners also worry about the “big void for ’90s R&B and hip-hop,” says Phillip Rollins, owner of Offbeat in Jackson, Mississippi. Labels are “re-pressing everything else, like 1,000 Grateful Dead live box sets,” he continues. “Where’s SWV and early Usher?” “It’s starting to look really weird when you can re-press 30 Rolling Stones records but not a core R&B title from the ’70s,” Rodriguez agrees.
Joe Lyle, owner of No Pulp Records in New Orleans, says F.A.M.S. has been working to make the labels aware of the demand for some of this classic material. Benito is starting to see some progress, pointing to represses of LPs from Mary J. Blige, Erykah Badu and Kingpin Skinny Pimp. In addition, Harkins helped secure a commitment from the manufacturer GZ North America to set aside capacity for both new hip-hop and R&B titles and represses.
There’s more to come: At the Music Biz conference in Nashville in May, members of F.A.M.S. met with Corbin to talk about the need for additional catalog releases. “What we agreed to is having them be somewhat of a curator — ‘we really think this Anita Baker record would be worth bringing out and repressing on vinyl,’” Corbin says. “Rather than us dictating and saying, ‘Hey, we’re gonna re-release these classic R&B records,’ we’re making it a collaborative effort,” and taking cues from the store-owners who are in touch with record buyers on the ground.
Benito’s dream is to grow the Black-owned sector of independent record stores to more than 5% of the total over the next five years. But for some owners, even just forming the coalition represents a victory. “We’re a minority within the minority of record store owners — it can feel like you’re kind of on an island out here,” Bines says. “It’s been nice to see there’s others out there trying to sustain the same thing that I am.”