Business News
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ValueAct Capital Management, a hedge fund with a history of being an activist investor, now holds a stake in Spotify. Mason Morfit, the San Francisco-based company’s chief executive officer and chief investment officer, revealed the firm’s ownership in Spotify shares at an event at Columbia University on Friday (Feb. 10), according to reports.
Spotify shares rose 3.6% to $125.16 on Friday following the news.
ValueAct, which did not reveal the timing of the investment, enters the picture as Spotify appears determined to improve its margins and reign in costs. Two weeks ago, Spotify announced a reorganization and layoff of 6% of its staff. Chief content officer Dawn Ostroff, who used lucrative licensing and original content deals to build Spotify’s podcast business, departed the company. The New York-based executive’s duties were absorbed by chief business officer Alex Norström out of Spotify’s Swedish headquarters. In the fourth quarter, Spotify showed a willingness to pare costs by laying off staff in its original podcasts and some of its live programming.
“During the boom, it applied these powers to new markets like podcasts, audiobooks and live chat rooms,” ValueAct’s Morfit said according to The Financial Times. “Its operating expenses and funding for content exploded. It is now sorting out what was built to last and what was built for the bubble.”
ValueAct owns shares in dozens of companies including Twenty-First Century Fox, Nintendo, The New York Times Company, Microsoft and Adobe Systems.
Exactly what this means for Spotify’s decision-making isn’t immediately clear. Like Meta, Alphabet and some other prominent tech companies, Spotify has a dual-class share system that grants its founders with enough voting power to control corporate governance. In a single-class structure, shareholders’ voting power is proportional to the number of shares they own. In a dual-class system, ordinary shares have far less voting power than a second type of shares.
Spotify’s co-founders own only 38% of outstanding common shares but own 100% of the company’s “beneficiary certificates,” each of which has 10 times the voting power of an ordinary share but no economic rights. The arrangement gives CEO Daniel Ek and co-founder Martin Lorentzon 74.3% of voting power, according to Spotify’s 2022 annual report, and ensures the duo can choose the board of directors despite owning a minority of the company’s economic interest.
As of Dec. 31, 2022, Ek has 16.5% of outstanding common shares and 31.7% of total voting power while Lorentzon owns 11.1% of ordinary shares and 42.6% of total voting power. The next-largest shareholder, Baille Gifford & Co, owns 14.5% of ordinary shares and 5.1% of voting power. Chinese tech giant Tencent Holdings owns 8.6% of ordinary shares, but Ek exercises those shares’ voting rights.
Uber Eats’ commercial featuring Diddy, Montell Jordan, “The Fox (What Does the Fox Say?),” the guy who sings “What Is Love,” an oddly-timed haircut and two pineapples may be the first clue that Super Bowl ads are going lighter in 2023 — a pattern reflected in the music synchs for the big game.
After three years of the pandemic, Jordan’s 1995 smash “This Is How We Do It” and Kelis’ 2003 hit “Milkshake,” both Universal Music Publishing Group synchs used in the Uber Eats spot, represent a shift from apocalyptic and inspirational Super Bowl commercials and soundtracks starring old-timey crooners and string sections to familiar, upbeat hits and plentiful comedy.
“Humor remains the dominant theme this year,” says Tom Eaton, senior vp of music for advertising for UMPG, which represents the Jordan and Kelis tracks and suggested them to the brand’s music supervisors. “There have been a few sentimental commercials, but the vast majority have trended towards humor — and music can be such an important aspect of creating that mood.”
“I haven’t seen that heightened seriousness, which I think is a good thing,” adds Keith D’Arcy, senior vp of sync and creative services for Warner Chappell Music, whose synchs at this year’s Super Bowl include DMX‘s “What’s My Name,” for a Downy spot starring Danny McBride. “The country is in a good place where we’re more inclined to want to laugh and celebrate.”
That means lots of feel-good tracks, many of which were released in the ‘90s – from “What’s My Name” and “This is How We Do It” to a Clueless throwback ad for Rakuten starring Alicia Silverstone and Supergrass‘ 1995 U.K. hit “Alright.” The ’90s trend may have begun last year with Doja Cat‘s cover of Hole‘s “Celebrity Skin” for Taco Bell, says Rob Christensen, executive vp and head of global synch for Kobalt, whose lone synch this year is soul singer Lee Fields’ “Forever” for pet-food brand The Farmer’s Dog. “The ’90s are back,” he says. “That seems to be around pop culture everywhere right now.”
“It’s cyclical,” adds Scott Cresto, executive vp of synchronization and marketing for Reservoir Media, which has three synchs, including a Pringles spot with Meghan Trainor singing Tina Turner‘s “The Best.” “Most folks’ favorite music is from [ages] 13 to 30. They’re down the line in their careers and making the decisions and picking their favorite songs.”
Although not all final synch tallies for nationally televised spots were available at press time — publishing execs say permissions and requests for songs were unusually late this year, including a rush job that came in from an agency this past Monday — Sony Music Publishing (SMP) scored the most with 15, UMPG had seven, Warner Chappell Music had six or seven, BMG landed five, Primary Wave and Reservoir had three apiece and Kobalt had one.
Despite inflation, layoffs, high interest rates and sporadic recession talk, synch rates were stable this year, according to publishers. “It’s in line with past Super Bowl campaigns,” says Marty Silverstone, partner/senior vp creative/head of synch for Primary Wave, whose synchs include Missy Elliott‘s “We Run This” for Google Pixel. Adds Dan Rosenbaum, vp of licensing and advertising, for BMG, whose synchs include Supergrass’ “Alright” and co-writes for Turner’s “The Best” and Elliott’s “We Run This”: “Recognizability is so important in commercial usage. If that song is going to work for them, they’ll pay the price.”
Super Bowl LVII is the first since Kate Bush‘s “Running Up That Hill (A Deal with God)” landed on Stranger Things in May 2022, became a No. 1 hit and unexpectedly dominated the synch business. Do publishers believe the big game, for which 30-second ads cost a reported $7 million, will have a similar impact for their songs? Yes and no.
“That Kate Bush song wasn’t well-known and the show blew it up. On the Super Bowl, they play it a little more safe by using more tried-and-true hits,” says Brian Monaco, president/global chief marketing officer for SMP, which represents Len‘s “Steal My Sunshine” (for a Sam Adams spot), Sarah McLachlan‘s “Angel” (Busch) and Olivia Rodrigo‘s “Good 4 U” (Pepsi). “On a TV show, it’s a little easier, because the fees are lower. If it doesn’t work, you’re on to the next one.”
Despite SMP’s success at landing Super Bowl synchs this year, Monaco’s staff was unable to successfully pitch one key artist: Bruce Springsteen, who sold his music rights to the company for a reported $550 million in 2021. “It just didn’t fit,” he says, while noting that even for a superstar like Springsteen, getting a Super Bowl synch is a coveted career highlight: “Everyone’s hope — every writer, every artist — is the Super Bowl platform. We need more big events like this to get more music played.”
Allegra Willis Knerr was promoted to executive vp of global synch licensing at BMG, where she will manage the company’s synch licensing teams across the globe. The Los Angeles-based executive was previously senior vp of global synch licensing, a role she was elevated to last year. She’ll continue reporting to BMG chief content officer Dominique Casimir.
Willis Knerr can be reached at Allegra.Willis.knerr@bmg.com.
Dan Wall joined Live Nation Entertainment as executive vp of corporate and regulatory affairs. Wall has been a key advisor to the company for more than 12 years, previously offering guidance as lead outside counsel as a partner at law firm Latham & Watkins.
Kok-Siew Yeo was named managing director of Warner Music Taiwan. He will oversee Warner Music’s operation in Taiwan and work to strengthen the company’s position as an important player in the global Mandopop industry. Kok-Siew joins the company from Meta, where he served as creator partnerships lead. Based in Taipei, Kok-Siew will report to Warner Music Asia co-presidents Chris Gobalakrishna and Jonathan Serbin.
Vinit Thakkar was named managing director at Sony Music Entertainment in India. He joins the company from Universal Music India, where he served as COO of India and South Asia. (Via afaqs!)
Lou Al-Chamaa was named senior vp/head of A&R publishing at Avex USA. He arrives at the company following six years at Sony Music Publishing, where he served as vp of A&R.
Jennifer Hills and Sarah Desmond were promoted to co-managing directors of Universal Music UK’s brand partnerships and synch division Globe. Both were previously senior vps. Reporting to Hills and Desmond will be Adam Soffe, who is returning to Globe as vp/head of synch, creative, as well as Neil Mulford, who has been promoted to vp/head of synch, licensing.
Vickie Nauman, founder/CEO of music tech consulting company CrossBorderWorks, joined the advisory board of Barcelona-based Web3 music company KLOOV. The company works on digital collectibles, experiences and NFTs.
Nina Musolino joined Page 1 Management as a manager out of the company’s Nashville office. She will work closely with senior director Danielle Middleton in New York as she signs and manages talent. Musolino reports to Page 1 founder and CEO Ashley Page. She was most recently a publisher and artist manager at Forward Music in Nashville. Musolino can be reached at nina@page1management.com.
Jay Cruze was hired as director of Southeast promotion and marketing at Big Machine Records out of Nashville. Cruze succeeds Jeff Davis, who retired last year. He most recently worked at iHeartMedia, where he helped develop and implement national programming for the company’s country platforms. Cruze can be reached at Jay.Cruze@bmlg.net.
LONDON —Throughout its five-decade history, the Brit Awards, the U.K.’s biggest music awards show, have produced many headline-grabbing moments — from Pulp singer Jarvis Cocker wiggling his butt at Michael Jackson in 1996 to Adele flipping the bird at TV executives for cutting off her acceptance speech in 2012 — and featured unforgettable performances from Amy Winehouse, Stormzy, Dave, Kanye West and the Spice Girls.
But like other entertainment awards shows, such as the Grammys and Academy Awards, the Brits are being forced to radically reinvent themselves to combat falling TV ratings and retain relevance with young music fans. Last year’s ceremony was watched by 2.7 million television viewers in the U.K., down from 2.9 million in 2021 — the Brit’s lowest-ever TV audience, according to industry publication Broadcast.
To try to arrest that slide, this year’s show at London’s O2 Arena takes place on a Saturday night for the first time in the Brit Awards’ 46-year history.
Organizers are hoping the move will breathe new life into the iconic ceremony, which this year has weathered controversy over a lack of female nominees; it will feature performances by Lizzo, Harry Styles, Lewis Capaldi, Stormzy, Sam Smith and Kim Petras.
“There’s been a desire [within the industry] for the Brits to be on a Saturday night for some time,” says Sophie Jones, chief strategy officer and interim CEO of labels body BPI, which runs the Brit Awards. “This year the pieces of the jigsaw fell into place, and it feels like a very exciting premium place for us to be.”
As in previous years, the two-hour show will be broadcast live on ITV in the U.K. The U.K. version of The Masked Singer, which is broadcast in the slot that precedes this year’s Brit Awards show, attracted 6.3 million viewers to last year’s season finale, according to ITV.
Outside the U.K., the 43rd edition of the show (The first ceremony took place in 1977, though the Brit Awards didn’t become an annual event until 1982) will be livestreamed internationally on YouTube for the 10th consecutive year, while a 60-minute red carpet show hosted by Nella Rose and Michelle Visage will be streamed on YouTube, Facebook and Twitter. The Brit Awards’ other digital partners include TikTok, YouTube Kids, Vevo and fan engagement platform Filmily.
Social media and digital platforms have enabled the Brit Awards to reach a far larger and younger global audience than it has ever reached on terrestrial television, says Jones. She points to 44 million views on the Brit Awards’ official YouTube channel for 2022’s performances and highlights, with more than 1 million people watching the accompanying red carpet show — marking a 25% jump from the previous year. Last year also saw 1.6 million visitors to BRITs World on Roblox.
The show’s continued importance to the U.K. record industry is illustrated by the spike in sales that winning acts and performers often experience. In the four days following 2022’s event, audio streams of songs performed on the night collectively increased 55% with 3.3 million additional streams, according to BPI data tracking. The highest uplift was for Ed Sheeran’s “The Joker and the Queen,” which saw a 699% increase in post-show streams.
“The shared experience moments that awards shows create are really special and the Brits still does that,” says Jones. “It’s a really important calling card for how much talent there is in the U.K.”
Lack Of Female Artists Sparks Backlash
In addition to battling falling TV viewership, the Brit Awards have increasingly found themselves caught up in controversies of their own making. This year’s nominations provoked a fierce backlash from artists and fans when they were announced on Jan. 12 because no female artists were named in the gender-neutral best artist category.
BPI says the lack of female nominations is a result of the strict eligibility criteria and relative shortage of high-profile British female stars putting out new music in 2022. The Brit Awards scrapped best male and best female awards last year in favor of gender-neutral prizes.
To be eligible for the best artist prize, an artist must have achieved at least one top 40 album or two top 20 singles in the U.K. over a 12-month period. Out of the 71 U.K. stars eligible for the award, only 12 were women — a list that includes Charli XCX and Florence + the Machine.
From that 71, a panel of around 1,200 voters — made up of artists, industry executives, journalists and retailers — pick their top five in order of preference. This year’s five nominees are Harry Styles, George Ezra, Stormzy, Central Cee and Fred Again.
“Clearly, it’s disappointing not to see any women nominated in the new gender-neutral category [but] it’s important we recognize the process by which those decisions are made,” Jones tells Billboard. She says that compared to 2022, when Adele won best artist and women or female-fronted acts won 10 out of 15 awards, the past 12 months have “seen fewer high-profile female artists within the release cycle and that has played itself through in the qualification list.”
In the wake of this year’s backlash, Jones says BPI will conduct a post-show review of its nominations criteria, eligibility thresholds and voting processes “looking at different potential approaches… to make sure that the awards are fully representative and celebrate success.” She says there are no plans to return to male and female categories for the best artist award but adds that nothing is “off the table.”
“Everything is in the mix, and it would be right and proper of us to think about this from all angles and make sure that we are making the right decision, whatever that might be,” says Jones.
Despite the all-male best artist list, organizers point to the high number of female artists in the running for other prizes on Saturday night. They include alternative rock band Wet Leg, who received four nominations; Beyoncé and Taylor Swift, both nominated in the international artist and international song categories; and Nova Twins, who are competing against Arctic Monkeys, The 1975, Bad Boy Chiller Crew and Wet Leg for best group. In total, 42% of this year’s nominations went to female artists or female-fronted bands, compared to 46% last year, says BPI.
The London-based organization previously became embroiled in controversy in 2016 when no Black artists were nominated in any major categories, provoking the viral hashtag #BritsSoWhite. Since then, BPI says there have been widespread changes to its voting academy, which this year was made up of 52% women and 31% from Black, Asian or minority ethnic backgrounds.
A nine-person Brits Committee — made up of two-thirds women, highlights BPI — oversees the Brit Awards. This year, Damian Christian, managing director of Atlantic Records U.K., makes his bow as committee chair, replacing Polydor’s Tom March who held the role in 2022. (Each of the three major labels takes turns leading the committee, rotating every three years.)
Those structural reforms have helped make the event far more representative of the U.K. music scene, say organizers, with recent editions seeing hip-hop stars Stormzy, Dave and Little Simz take home major prizes and deliver some of the event’s most-talked-about live performances.
Recent news — quarterly earnings releases and a major investment — had big impacts on some music companies’ stocks Thursday (Feb. 9).
Warner Music Group shares fell 4.3% to $35.09 and dropped as much as 10.5% during the day following the company’s fiscal first quarter earnings release Thursday. Warner’s revenue fell 7.8% (2.7% at constant currency) to $1.48 billion and net income fell 34% to $124 million. A relatively light release schedule, a slowdown in ad-supported revenue and a shorter quarter — the prior year period had one additional week — contributed to the decline. New CEO Robert Kyncl called it a “tough quarter” and pointed to a slate of releases in the second half of the year by Ed Sheeran, Cardi B and David Guetta.
MSG Entertainment shares ended the day up 11.7% to $59.58 and reached as high as $61.33 during the day, up 15% from the prior day’s closing price. Revenue in the quarter rose 24% to $642.2 million. The proposed spinoff is expected to be completed by the end of March and the MSG Sphere in Las Vegas is slated to open in September. Investors had other reasons to cheer, however, as MSGE announced it implemented a cost reduction program that resulted in layoffs and other non-labor savings.
In Seoul, SM Entertainment shares rose nearly 19% to 117,000 won on Friday (Feb. 10) on news that HYBE acquired a 14.8% stake to become its largest shareholder, though shares dipped to 109,800 won, up 11.5%, by mid-morning. Likewise, HYBE shares climbed as much as 10.2% to 218,500 won ($172.76) before falling to 212,500 won ($168), up 7.2% from the previous closing price.
LiveOne shares gained 2.1% to $0.97 despite climbing as high as $1.09, up 14.7% from Monday’s closing price. The company raised its guidance for full-year adjusted EBITDA from $11 million to $12 million. LiveOne’s revenue for the quarter ended Dec. 31 declined 17% to $27.3 million due to its decision not to produce “capital-intensive tentpole or pay-per-view events” until next fiscal year. That decision, along with reduced annual expenses and overhead, helped LiveOne turn adjusted EBITDA from -$4.8 million to $3 million.
The U.S. markets broadly fell on Thursday. The New York Stock Exchange dropped 0.7% and the Nasdaq fell 1%. The S&P 500 fell 0.9%. Markets in Europe fared better, however. The DAX, an index of 40 blue-chip German stocks, rose 0.7%. The FTSE 100, a measure of 100 stocks on the London Stock Exchange, rose 0.3%.
HYBE, the company behind K-pop groups BTS and TOMORROW X TOGETHER, has acquired a leading stake in competing K-pop company SM Entertainment, home to artists including NCT 127, Super M and Aespa. According to a regulatory filing posted Friday (Feb. 10) in Seoul, HYBE acquired shares in the company worth 422.8 billion won ($334.3 million), making it the company’s largest shareholder.
HYBE purchased 3.5 million shares from SM Entertainment founder Lee Soo-man, SM Entertainment’s largest shareholder. The deal gives HYBE a 14.8% stake in the publicly traded music company, which has a market capitalization worth roughly $1.8 billion. HYBE’s market capitalization is worth roughly $6.5 billion.
Lee, who is currently embroiled in a power struggle with SM Entertainment’s management, had owned roughly 18.5% of SM Entertainment’s outstanding shares, according to the company’s investor relations website. Following the sale to HYBE, he is left with roughly 869,000 shares and a 3.7% stake. Lee has a put option to sell his remaining shares one year after either HYBE’s purchase or the date of the business combination, whichever comes first, according to the filing.
Korean tech company Kakao, the owner of the music streaming service Melon, announced on Tuesday it would acquire a 9.05% stake in SM Entertainment, making it the company’s second-largest shareholder. Lee opposes Kakao’s investment, however. According to a report, Lee intends to called SM Entertainment and Kakao’s plan an “act of illegality against the commercial law and article of association” in which SM Entertainment would issue new stock and convertible bonds.
The investment in SM Entertainment is HYBE’s second major deal in as many days. On Wednesday, HYBE America announced it had purchased QC Media Holdings, the parent company of Atlanta-based hip-hop label Quality Control Music. The $300 million deal adds artists including Migos, Lil Baby, Lil Yachty and City Girls to HYBE’s roster and puts the Quality Control roster under the leadership of HYBE America CEO Scooter Braun.
Following the suicides of Avicii in 2018 and The Prodigy’s Keith Flint in 2019, the conversation around mental health within electronic music community saw tremendous expansion and new levels of honesty regarding stress, self medication with drugs and alcohol and the burnout caused by both things in tandem.
Another benefit of this conversation is that it helped open a new one, with the dance music community more recently finding a focus on neurodiversity. The first ever study of neurodiversity within the electronic industry is putting a spotlight on just how many people in dance are neurodiverse, why this space is uniquely suited for them and how the industry can best support these individuals.
“There are artists of the highest level within the electronic music industry that have neurodiverse conditions,” says Tristan Hunt, who helped coordinate the study and last fall left his position as Regional Manager at the Association for Electronic Music (AFEM) to launch a coaching service for neurodiverse people within this world. (Neurodiversity refers to a difference in neurobiological cognitive makeup, so people with neurodiverse conditions have a nervous system biology different to “neurotypical” people.)
Hunt, who’s also a former DJ and who earned this coaching qualification after two years of training and who is himself neurodiverse, now has a thriving business working everyone from artists, to managers, to C-suite execs who are all learning to work with neurodiverse diagnoses like ADHD, autism, dyslexia, dyscalculia and more. His packed schedule makes sense, given the results of the study.
Commissioned and conducted by AFEM, the 2022 study spoke to 137 people within the electronic industry, with 45% of them from the U.K., 22% from the U.S. and the remainder from other parts of the world. 58% of these participants demonstrated a neurodiverse condition, although only 38% currently have a clinical diagnosis. (The decision to include both clinically and self-diagnosed individuals, was made, Hunt says, “given that a significant number of people worldwide go undiagnosed.” He cites NYU research noting that as many as 75% of adults with the condition go undiagnosed.)
While artists including Billie Eilish, Solange, Florence Welch and Cher have all discussed their neurodiverse diagnoses, the AFEM report marks the first time neurodiversity has been studied specifically within the dance space — a world that is in many ways an ideal match for neurodiverse minds.
“The neuroscience out there shows that people who have things like ADHD and dyslexia, for example, are among some of the most creative people,” Hunt says, “because the neurobiology is different in such a way that enables this very radical, nonlinear thinking to happen.” Thus, making music, producing art, creating events — all major components of the industry — are uniquely well-suited to neurodiverse people.
“It’s a natural fit,” he adds. “You can thrive in this place, because we particularly value creative skills.”
But just as mental health was and in cases remains shrouded in secrecy, so too did the study identify a perceived stigma around what Hunt calls “the hidden disability” of neurodiversity, finding that only 52% of people with a neurodiverse condition have told their organization or employer. Only 23% of neurodiverse people said they’d ask for support at their workplace.
“The perception of neurodiverse individuals is that we are lazy, weird, strange, and often can’t work traditional job hours,” says one member of the anonymous study.
The electronic industry also creates particular challenges for neurodiverse people, given its emphases on heavy socialization, partying, late nights and a pace that moves at the speed of email. “Neurodiverse people are often very loving, caring, compassionate individuals that can empathize and understand people in incredible ways,” says Hunt, “but the flip side of this is often that they can be much more easily overwhelmed.”
Tristan Hunt
Courtesy of Tristan Hunt
He notes that straightforward structural issues like an office with an open floor plan, noisy work space, or just being bombarded with an onslaught of calls, emails, texts and social media notifications can create an overwhelming cognitive load on a neurodiverse person, who may struggle to process and filter out this input, leading to overwhelm and shutdown.
Additionally, the current level of support for neurodiverse people within companies is, Hunt says, “really lacking.” The study reports that only 15% of people polled were aware of company policies regarding neurodiversity, with participants saying the topic never came up with human resources, that they had no one to tell about their condition, that they don’t want to be viewed or treated differently and that they worried disclosure might foster discrimination or misunderstanding among colleagues. 69% of people polled said their organization could do more to support them.
“Much is discussed on the drawbacks, but this needs to be balanced out with highlighting the benefits and ’superpowers’ that the neurodiverse brain can bring to any organization and community,” says AFEM member Silvia Montello, who’s been diagnosed with ADHD. “The more people with ND conditions in our industry are happy to discuss, communicate and campaign on the subject – especially those of us with long careers in this industry – the more the understanding will grow and the more those with ND brains will be able to grow and succeed because of their different wiring, rather than be left to struggle with it.”
Both straightforward and cost-effective, fixes include reorganizing office layouts, providing neurodiverse employees with spaces better-suited to their needs or provisions to work from home, checking with existing employees to see who may need support, offering trainings among non-neurodiverse employees to help them understand the issue, creating a company toolkit on the topic and acknowledging neurodiversity during interviews, in company policies and amidst onboarding.
“If employers and colleagues can both understand and accommodate their ND peers,” Montello says, “it will create a better, more harmonious and more successful community where everyone can thrive and all of our various unique talents and skills can be enjoyed both commercially and creatively.”
The overall goal of the AFEM study is to further the conversation around neurodiversity, thereby creating environments where neurodiverse people can thrive. Such destigmatization should lead to less self medicating, which can become a survival strategy when drinking and drugs are they only way to calm the mind.
“Many neurodiverse artists use drugs, sex, and/or alcohol as a copying mechanism,” says one anonymous members of the study. “Access to addiction or mental health advocates that specialize in the music industry would be helpful. There are general providers, but this niche requires specialized care.”
The good news is that all these changes are in motion. While Hunt’s client list is confidential, it includes some of the biggest players in the industry, with both Hunt and Montello saying they’re hearing much more on the topic now than ever before in their long careers in electronic music.
“The [companies I’m working with] are on the forefront with this, bringing people like myself and therapists and experts to support their staff and make adjustments,” Hunt says. “They’re creating a compassionate, warm, empathetic atmosphere that says ‘this is cool.’”
AFEM 2022 Neurodiversity Study At a Glance
— Of 137 people polled, 58% have a neurodiverse condition, but only 38% have a clinical diagnosis
— 79% of people polled are aware of neurodiversity, 70% have been hearing more about it recently
— 55% of respondents say they understand neurodiversity well, but this number drops to only 24% among people without an neurodiverse condition
— 71% say they wish they knew more about how neurodiversity affects people’s lives
— 53% say they believe neurodiversity is an important issue compared to other issues the industry is facing. This number drops to 40% amongst people without a ND condition
— 52% of people with a ND condition have told their organization. Only 23% have asked for support
— 15% know their organization has policies and procedures in place for Neurodiversity
— 72% of people agree there are many benefits to a workplace that supports neurodiverse people
— 19% of people think music industry supports neurodiverse people.
— 69% agree their organization could do more to support them
Primary Wave Music struck a multimillion-dollar deal with Stevie Van Zandt through which Primary Wave will manage Van Zandt’s music publishing and recorded music catalogs, as well as a portion of his name and likeness rights. The agreement includes a stake in producer royalties from Van Zandt’s work with Southside Johnny & the Asbury Jukes as well as band member and producer royalties from his longtime collaboration with Bruce Springsteen. Encompassed by the deal are some of Van Zandt’s biggest songs, including Southside Johnny & the Asbury Jukes’ “I Don’t Want To Go Home” and “This Time It’s For Real”; his protest anthem “I Am A Patriot” (covered by artists including Jackson Browne and Pearl Jam); the theme song for his Netflix series, Lilyhammer; and Darlene Love’s “All Alone On Christmas.” Van Zandt will have access to Primary Wave’s marketing team and publishing infrastructure, including digital strategy, licensing, synch opportunities and film & TV production.
BandLab Technologies — parent company of social music creation platform BandLab, digital audio workstation Cakewalk and artist services platform ReverbNation — acquired beat marketplace Airbit. The acquisition expands BandLab’s creator toolset, which also includes DAW and AI musical idea generator SongStarter. According to a release, artists have earned over $50 million on Airbit, with more than 2 million beats sold. Airbit CEO Wasim Khamlichi will step down from the role after a transition period, though all current Airbit employees will be retained under the deal.
Utopia Music is selling ROSTR, a free-to-use music industry directory and data platform, back to ROSTR founders Mark Williamson and Adam Watson. Utopia purchased the company in December 2021 with the intention of strengthening its direct offerings for creators, but, following a recent strategic reorganization, it has since refocused its efforts on serving creators through third parties via its B2B offerings, according to a press release. “Utopia and ROSTR came together with a shared mission of making a better world for music, although we’ll be pursuing this mission on separate paths, we know ROSTR is an invaluable resource for the music industry and we wish Mark, Adam, and the whole ROSTR team the best of luck,” said Utopia Music executive chairman and founder Mattias Hjelmstedt in a statement.
Codiciado signed an exclusive distribution deal with Virgin Music U.S. Latin via Golden Ink Entertainment. The signing comes shortly after the trap corridos singer, born Erick Aragon, launched his solo career independent from his longtime band Grupo Codiciado. As a soloist, he’s released a handful of singles, including “La Que Se Fue” and “Ando Enfocado.” About the deal, Frank Medina, executive producer and chairman at Golden Ink, said, “We are very excited for everything that is coming with Codiciado, Golden Ink and Virgin Music. We remain focused on producing quality music for our audience and carrying the Mexican flag high.” – Griselda Flores
Web3 record label and in-house entertainment studio Hume signed with CAA. The agency will help the company “identify and create opportunities across a variety of areas, including licensing and merchandising, brand partnerships, live events, film, and television and more,” according to a press release. “Working with CAA presents an opportunity to bridge the gap between traditional media and Web3 to bring metastars into the mainstream,” added Hume chief artist officer and co-founder Jay Stolar in a statement. Hume “metastars” include Angelbaby and the recently-launched Clio.
Warner Music India acquired a majority stake in Divo, a digital media and music company in India with a presence across all four South Indian language music markets. Divo works with labels, artists and musicians to help distribute and monetize their content across digital platforms, radio and TV stations. It released more than 30,000 songs last year in the Tamil, Kannada, Malayalam and Telegu music industries. “This move will strengthen our presence in the south of the country, enabling us to have a truly strong Pan-India presence,” said Warner Music India managing director Jay Mehta in a statement.
“Astronaut in the Ocean” rapper Masked Wolf reunited with Australian indie label Teamwrk under a new global distribution partnership with Ingrooves Music Group, which will now distribute releases for all Teamwrk artists. Masked Wolf’s first single under the partnership, “Never the Same,” drops on Friday (Feb. 10).
Warner Music Central Europe and Stefan Dabruck Management (SDM) extended and expanded their partnership. Under the new deal, the two companies “will build on their joint success and focus on taking European Dance music to a new global audience by marrying up Warner Recorded Music’s powerful global network and SDM’s second-to-none creative talent,” according to a press release. The new chapter of the partnership will kick off with a series of songwriting camps and releases in 2023.
Secretly Distribution reached a strategic partnership with independent royalty accounting platform Infinite Catalog. According to a press release, the partnership will make it easier for Secretly labels including Dead Oceans, Jagjaguwar, Saddest Factory Records and Secretly Canadian to pay their artists “more often.” Infinite Catalog is already in use by more than 20 Secretly Distribution labels. “Like us, Infinite Catalog is committed to bringing scale advantage to small and medium-sized labels, so that at a relatively low cost they can have the same caliber of royalty processing capabilities as the biggest music companies,” said Secretly Distribution co-CEO Darius Van Arman in a statement.
Electro-pop trio ARIZONA signed with Fueled By Ramen and will release a forthcoming project on the label. Their new single, “Moving On,” is the band’s first new music release in four years.
Singer-songwriter Dylan Marlowe signed with Sony Music Nashville in conjunction with Play It Again Entertainment, with whom Marlowe signed a publishing and artist development deal in 2020. He recently released the track “Record High” and was named one of Spotify’s 2023 country artists to watch.
SoundCloud and Pandora renewed their advertising sales agreement. Pandora parent company SiriusXM’s combined sales group, SXM Media, will continue to serve as the exclusive ad representative for SoundCloud into 2024. SoundCloud’s ad inventory will now be available through AudioGO, the new self-serve advertising platform owned by SiriusXM subsidiary AdsWizz.
Decca Classics signed composer and conductor Tan Dan, who in 2000 won an Oscar for his score to the blockbuster action film Crouching Tiger, Hidden Dragon. The label will release several Dun projects this year, including Five Souls (Mar. 3), Buddha Passion (Apr. 7) and The Tears of Nature (September). It will also release five of his previously unavailable catalog albums.
Warner Music Asia signed Singaporean singer-songwriter Gentle Bones. The label will work to grow his fan base in key markets outside Singapore. Gentle Bones’ debut release on Warner Music Asia, “The Right Words,” is slated for release on Friday (Feb. 10) as the first single from his forthcoming EP.
ASM Global has assumed the management and operation of Wake Forest University‘s Lawrence Joel Veterans Memorial Coliseum in Winston-Salem, N.C. The company’s purview will include facility operations, staffing, event-booking and production services for Truist Field, LJVM Coliseum and David F. Couch Ballpark. ASM Global’s Wake Forest team is led by GM Brandon Berry, who assumed the role in September; a total of seven ASM Global employees work at the venue, with two additional full-time positions due to be added this year. Wake Forest will sunset its formal booking collaboration with Greensboro Coliseum, which has been in place since 2013.
SaveLive announced two new venue partners: Eagles Entertainment, which boasts a network that includes Eagles Ballroom, Rave and the Rave II in Milwaukee; and The Fremont Theater in San Luis Obispo, Calif.
The Red Clay Strays signed with WME for global representation in all areas. The group will be represented by Jay Williams, co-head of WME’s Nashville office, as well as Aaron Tannenbaum, Alex Collignon and Kanan Vitolo. They’re slated to play 28 dates opening for Elle King this spring, as well as four dates opening for Eric Church this summer, in addition to various festival dates. The group, which released their debut album, Moment of Truth, last year, is managed by Cody Payne of Conway Entertainment Group.
Nettwerk signed Florida band The Haunt and alt-pop artist Kevitch. The first Haunt release by the label is the group’s new single, “Shake.” Nettwerk will also release Kevitch’s single, “Secrets,” on Friday (Feb. 10).
Country singer Aaron Watson signed with Roundhouse Entertainment for management. On Feb. 2, Watson embarked on a headlining tour, Roughstock Road Show, to support his current album, Unwanted Man.
U.K. digital music company 7digital plans to accept an acquisition bid by Songtradr for 19.4 million pounds ($23.4 million), 7digital announced Wednesday (Feb. 8).
7digital shareholders will receive 0.695 pence ($0.84) per share in cash, a 114% premium over the prior day’s closing price.
7digital directors, who collectively hold 43.7% of outstanding shares, intend to recommend that shareholders vote in favor of the acquisition. Songtradr says it has also received irrevocable undertakings to vote in favor of the deal from institutional and other shareholders representing 24.8% of outstanding shares.
Since its founding in 2014, Santa Monica, Calif.-based Songtradr has raised over $100 million to build a company intent on solving many of the inefficiencies in music licensing. It acquired AI metadata and music search company Musicube in 2022, music licensing agency Massive Music in 2021 and licensing agency Big Synch Music in 2019. In addition, Songtradr established a global creative division, led by industry vet Amanda Schupf, in 2021.
Songtradr’s announcement highlighted a number of strategic benefits it will receive from the proposed transaction. For starters, 7digital would give Songtradr a platform and music catalog that “will enhance relationships with existing customers and accelerate new customer acquisition” and put the company “in an advantageous position to provide unmatched combined solutions” in the video game space for both licensors and music rights holders.
Also, 7digital, which launched in 2004, would give Songtradr a technology solution that “delivers both music and audio rights at scale, metadata enhancement, digital rights management, content tracking and royalty spending.” The acquisition would allow Songtradr to quicken its growth strategy and “simplify global music licensing,” the announcement added.
Following the acquisition, current 7digital CEO Paul Langworthy will join Songtradr along with the rest of the senior leadership team, though interim chairman Mark Foster, CFO Michael Juskiewicz and all non-executive directors will step down. Songtradr will additionally repay 7digital’s £2 million revolving credit facility as well as two £500,000 loans. It will continue to operate 7digital’s London office for the time being.
The acquisition marks the close of a turbulent few years for 7digital, which in July 2019 faced the possibility of going into administration — or the U.K. equivalent of Chapter 11 bankruptcy — unless it managed to raise £4.5 million ($5.5 million) in additional funds by the end of that month.
Raedio, Issa Rae‘s “audio everywhere company,” and Honda are partnering to create a new music competition series to discover and develop new artists and take their emerging careers to new levels.
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Breaking Out: An Artist & Discovery Platform contains multiple endeavors, and its first one launched Monday, while others will be announced in the coming months. Honda Hot 16 is a unique freestyle competition where Raedio and Honda are in search for the next breakout star.
“Partnering with Honda to discover new talent will redefine how audiences engage with artists and music experiences,” said Clarissa Reformina, Raedio senior vp of strategy, in an emailed statement. “This collaboration is aligned with Raedio’s mission to serve creators first with new platforms and produce culturally relevant music, digital content and podcasts.”
Artists can text “HONDA HOT 16” to 310-356-9895 to learn how to upload their freestyle in order to be considered in the competition, or they can visit theraedio.com/raedioxhonda. Artists can then download the #HondaHot16 beat provided by Raedio, record their best 16 bars over it and submit it. The top three winners of the 16-bar competition will be announced on March 1, 2023.
The first-place winner will receive an all-expenses paid trip to Los Angeles in the spring and the opportunity to be the opening performer for a very special headlining act at the Roxy Theater. The second and third place winners will have the chance to win a one-on-one meeting with a Raedio executive, studio time with an engineer, Bluetooth audio devices and cash gift cards.
The competition series was also launched to help expand Honda’s music programming, which includes the Civic Tour that has provided more than five million fans with exclusive, interactive concert experiences and Honda Stage partnership with Billboard that brings music’s up-and-coming stars to the stage and their stories to life.
“Honda’s collaboration with Raedio advances our commitment to helping artists on the rise by providing them with a platform to pursue their dreams,” added Phil Hruska, senior marketing manager at Honda. “This latest Honda music initiative also enables us to build new relationships with young, multicultural customers and introduce them to fun-to-drive Honda vehicles.”