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In May of 2019, Pat Houston — Whitney Houston’s sister-in-law and the executor of her estate — and music publisher and marketer Primary Wave announced a partnership that gave the company a 50% stake in Whitney’s assets — including her publishing, master recording revenues, name, likeness and brand — in a deal that valued the estate at $14 million. Since then, Primary Wave says it has quadrupled the estate’s fortunes — a figure it hopes will only explode further after a series of projects that will begin rolling out this fall, including a perfume line, a MAC Cosmetics partnership, an archival book and a biopic out Dec. 21: I Wanna Dance With Somebody, starring relative newcomer Naomi Ackie.
Centered on Whitney’s relationship with her mentor Clive Davis (portrayed by Stanley Tucci) and written by Anthony McCarten — whose previous blockbuster biopics (The Theory of Everything, Darkest Hour and Bohemian Rhapsody) have all yielded Academy Award wins — the film is being produced by Pat, Davis, McCarten, Primary Wave, Sony Tristar and Compelling Pictures. “My interest with the biopic has everything to do with Clive Davis,” says Pat Houston, noting the film will also contain a previously-unreleased song. “When she was here, he was always a fighter and always leading her career, and musically, he has that same vibe and feeling. You can’t mention Whitney Houston without mentioning Clive Davis, and I wanted it to be about the music and that relationship and how she got there.”
Davis, who worked with McCarten to develop the script and consulted on the historical aspects of the film, spoke to Billboard about bringing “the full picture of who [Whitney] was” to the big screen.
How did the idea for this biopic come about?
It was time that a full-fledged theatrical biopic be done on Whitney. And by total coincidence, one of my best friends was doing some production work with Anthony McCarten, who had done so well [as screenwriter of] the Queen film, Bohemian Rhapsody. So I started meeting with Anthony, and he was very, very interested in writing it. It was my task to really inform him, make sure that every aspect of Whitney was researched. I introduced him to the family, to everyone that had worked with Whitney, including her counselor, so he really embarked on a year to two years of research about Whitney and her life. When we both agreed that we had a final script that was authentic, honest and understood the full nature of Whitney’s life, I introduced him to Pat Houston and to [Primary Wave founder and CEO] Larry Mestel.
Were you involved in the casting?
I met and spent some time with Stanley Tucci, who plays me — and who was everyone’s primary choice, though I did not meet him until after he agreed to do the part. Before he and I spoke, he wanted to and did read my autobiography and saw my documentary [Clive Davis: The Soundtrack of Our Lives]. And then we Zoomed, and then I went up to Boston, where they were filming, and I met with him in person. I’m extremely pleased with the performance that he gives.
With respect to Naomi Ackie [who plays Houston], we knew it would be Whitney’s voice in the film, so we were not appraising musical performance, but acting strengths. When we watched the audition tapes of the leading candidates, we all agreed on Naomi being very, very special.
How did you feel watching this film come to life?
It hit home. It’s realistic. Scenes between Whitney and me, obviously, were emotionally impactful, from the time we first met to going through the musical, personal relationship we had, the more difficult times in dealing with her problems. I think the film is very accurate in its portrayal of the dialogues we had.
What was it like working with Larry Mestel and Pat Houston?
Larry and I got along extremely well. With our outlook, our goal, our mission, our sense of fulfillment, we were pretty much on target. I found him understanding [of] the big picture. Pat attended every meeting I did. We would all meet together, see drafts of the film, exchange viewpoints and have dialogues as to accuracy. It was obviously a very emotional experience with Pat, too.
What effect do you think the film will have on Whitney’s legacy?
I would hope a very positive effect. I think it shows real depth and understanding of who she was, as well as the magnitude of what her musical life represented. I was an admirer of Bohemian Rhapsody and the Elton John film [Rocketman]. A well-done biography film reviewing the totality of a life as far as the music certainly adds to the legacy of the subject.
With this film and the other Whitney projects coming soon, how does it feel to see her celebrated again?
It’s a combination of enormous pride, enormous regret at her premature passing, wonderment at the uniqueness of her incomparable voice and the impact she had on musicians, artists, singers everywhere, even young ones coming up today. It’s been quite the emotional human experience.
This story will appear in the Nov. 5, 2022, issue of Billboard.
LONDON — Paul Pacifico, the outgoing CEO of the U.K.’s Association of Independent Music (AIM), has been hired to head the Saudi Music Commission, which is responsible for developing and championing the burgeoning music sector in the Kingdom of Saudi Arabia.
Pacifico takes up the post in January. He will succeed Mohammed Al Mulhem, who is listed on the Saudi Music Commission website as the incumbent chief executive.
The Saudi Music Commission was established by the Ministry of Culture in 2020 as part of a wider push to grow Saudi Arabia’s economy and status as a high-end global tourist destination.
The commission says its objective is overseeing the development of Saudi’s music market through building world-class infrastructure, providing universal access to music education, empowering music artists and creating job opportunities in the country, which has a population of 35 million.
Specific market data for Saudi Arabia’s music industry isn’t currently available, with IFPI grouping the country within its Middle East and North Africa (MENA) regional statistics. According to IFPI’s latest Global Music Report, MENA was the fastest-growing region in 2021, with recorded music trade revenues growing by 35% to $89.5 million.
International artists have, however, often faced strong criticism for performing in Saudi Arabia and helping promote a country widely accused of human rights abuses.
Last year, the Human Rights Foundation and the fiancée of murdered Saudi journalist and Washington Post columnist Jamal Khashoggi led calls for Justin Bieber to cancel his headline performance at a concert in the Red Sea city of Jeddah to mark the end of the Formula One season.
Despite public pressure for Bieber to pull out, the concert went ahead on Dec. 5, with R&B singer Jason Derulo also performing at the show. In 2019, Nicki Minaj canceled her appearance at a concert in Jeddah. At the time, Minaj said she was boycotting the show in support of women’s rights, gay rights and freedom of expression.
Only a few years ago, concerts were banned in Saudi Arabia, where ultraconservative norms prevailed, and unmarried men and women were segregated in public spaces. That changed with the appointment of Saudi Crown Prince Mohammed bin Salman in 2017, who has introduced sweeping reforms to modernize the country, attract foreign investment and create jobs for youth.
MDLBEAST Soundstorm, the biggest music festival in the region, launched in the capital city of Riyadh in 2019, while its latest edition set to take place Dec. 1-3 with performances by DJ Khaled, Post Malone, Bruno Mars, Wizkid, David Guetta, Marshmello, Tiësto and Carl Cox, among others.
“It is truly remarkable to see the level of support and the pace of change within Saudi Arabia as it builds a strong music sector for all to participate in,” Pacifico said in a statement announcing his appointment. He called the opportunity to help further develop the market a “huge privilege” and said he was looking forward to working with colleagues to “build a vibrant, inclusive and effective music sector.”
It is not known if Pacifico will relocate from the U.K. to Saudi Arabia when he takes up his new post.
In August, Pacifico announced he was stepping down as CEO of AIM after six years at the head of the organization, which represents more than 1,000 independent labels, artists and music companies, including Beggars Group, Domino, Warp and Ninja Tune.
Pacifico’s term as CEO officially ended on Oct. 31, but he is continuing in the role until the end of the year when his successor takes over.
Key achievements from Pacifico’s two-term tenure include last year’s Music Climate Pact, an industrywide initiative to decarbonize the record business backed by all three major labels and dozens of indies.
Pacifico is an associate professor at Berklee College of Music in Valencia, Spain and is featured in Billboard’s 2022 International Power Players list. He spoke on behalf of the indie sector during last year’s U.K. Parliament probe into music streaming. And during Brexit negotiations and the COVID-19 pandemic, he petitioned the British government for greater support for independent musicians and music companies.
Prior to joining AIM in 2016, Pacifico served as CEO of the UK’s Featured Artist Coalition and founding president of the International Artist Organisation.
Adam Wright, a veteran executive at several agencies and major labels, has been appointed chief financial officer of indie rights non-profit Merlin, succeeding Helen Alexander, who exits the organization after five and a half years.
Wright arrives from CAA, where he oversaw brand licensing in Europe, Middle East, and Africa as the firm’s director of finance. Previously, Wright held top-tier positions at Sony Music, handling operations across Australia, New Zealand and Singapore; and at Cooperative Music (now [PIAS] Cooperative), which was UMG’s indie-focused global licensing and distribution network until being sold in 2013.
Based in the UK, Wright will be responsible for all of the org’s financial, treasury and tax functions on a global basis. He arrives at a time of growth for Merlin, which says it has added 37 new members since last summer and is coming off deals and/or partnerships with Pinterest, Twitch Lickd and others.
“[Wright] is highly respected in his field and brings the right blend of long-term thinking, technical skills, and impressive leadership to benefit Merlin, its members and our partners around the globe,” said Jeremy Sirota, Merlin CEO.
Wright added that he was thrilled to return to the indie sector. “Independents’ passion for music is only matched by their level of innovation and entrepreneurship,” he said. “It’s a privilege to join Merlin as they continue to deliver on that ethos on behalf of their members and digital partners around the world.”
Ryman Hospitality Properties’ country-focused entertainment business, Opry Entertainment Group, saw its revenue grow 57.3% to $77.2 million in the third quarter, the company reported Monday (Oct. 31). Through the first nine months of 2022, the entertainment segment grew 86.2% to $183.6 million.
Excluding acquisitions and investments over the last three years, Opry Entertainment Group revenue and EBITDA were 19% and 21% higher than over the same period in 2019, said CEO Colin Reed. Among its properties are Grand Ole Opry, the Ryman Auditorium and Wild Horse venues, as well as the media network Circle, a three-year-old joint venture with Gray Television.
“This is the same type of growth we saw pre-pandemic,” said Reed. However, the company lowered the top end of its guidance range for full-year entertainment adjusted EBITDAre (a real estate version of EBITDA) from $80 million to $76 million (the bottom end of the range remained at $72 million).
Opry Entertainment Group is benefitting from increasingly strong tourist interest in Nashville. Outgoing CEO Reed said Nashville International Airport had a record 1.83 million travelers in June, up 9% from the same month in 2019. Nashville also set a record for hotel demand in June of 875,000 room nights, 11% greater than in June 2019.
Ultimately, Ryman wants Opry Entertainment Group to “flourish as a standalone, separate entity,” said Reed. To that end, in the second quarter, Ryman sold 30% of Opry Entertainment Group to investment firm Atairos Group and media giant NBCUniversal for a combined $300 million in a deal that closed in the second quarter. The new investors have a right to request an initial public offering four years after the deal — in 2026 — or sell their stake back to Ryman for cash or shares, said president Mark Fioravanti, who will succeed Reed as CEO on Jan. 1, 2023. Prior to the seventh anniversary in 2029, Atairos Group and NBC Universal can sell their stake back to Ryman if there has not been a sale, spin-off or IPO.
Bringing aboard new investors should help Opry Entertainment Group’s efforts to capitalize on the popularity of country music and culture. Ole Red, a chain of multi-level bar/music venues the company created in partnership with country star Blake Shelton, opened its fourth location in Orlando in 2020 and a fifth location in May at Nashville International Airport. A sixth location in Las Vegas is scheduled for 2023.
The company branched out to another fast-growing city in the second quarter by closing its acquisition of Block 21, a mixed-use property in Austin, Texas that includes ACL Live at Moody Theater, home of the television show Austin City Limits Theater, as well as the W Austin Hotel and retail and office space.
Reed is optimistic that Nashville’s growth will benefit Opry Entertainment Group without hurting its core hospitality business. There are more than 50 new hotel developments in Nashville-Davidson County, Reed said, and the city projects over 2,600 additional rooms will be available in the next two years. These hotels aren’t competitors to Ryman’s Opryland Resort and Convention Center on the outskirts of town, he noted, and they will bring additional customers to Ryman’s entertainment properties in the city.
“Many of these new visitors will end up seeing a show at the Ryman, touring the Opry House or spending an evening at Ole Red or the Wild Horse,” another downtown Nashville venue in its portfolio, said Reed. “When they leave Nashville and return home, or they go to Austin or Las Vegas for their musical pilgrimage, we’ll be there, continuing to engage with them whether through our investments in expanding the Ole Red footprint or deepening our virtual reach across linear television, digital streaming or online.”
Primary Wave Music has partnered with Huey Lewis and the News to purchase ownership of all Lewis and the band members’ shares of their musical composition copyrights, including writers’ shares of income. With a $20 million price tag, according to a source close to the deal, this encompasses their full discography from the group’s self-titled debut album up to 1994’s Four Chords & Several Years Ago.
This time period, spanning about 25 years, was the band’s most fruitful run, including hits like “Hip to Be Square,” “The Power of Love,” “If This Is It,” “Workin’ for a Living” and “The Heart of Rock and Roll.” The band’s landmark third album, the 7x-platinum Sports, turns 40 next year.
With a catalog that helped define 1980s rock n’ roll, Huey Lewis and The News’ likely best-known single to date is “The Power of Love” which was written for the Back to the Future soundtrack. After peaking at No. 1 on the Hot 100 chart, it earned the band nominations for a Grammy, a Golden Globe and an Academy Award.
Along with the transfer of ownership of the aforementioned catalog, Primary Wave will provide Huey Lewis and The News with marketing and publishing administration. This also includes digital strategy, licensing, synch opportunities and film & TV production.
The deal follows up the announcement that Primary Wave has received $1.7 billion from the Canadian investment company Brookfield Asset Management, Inc. to fund song catalog acquisitions as well as the announcements of over $300 million worth of other deals in 2022 so far, including the purchase of music and/or estate rights from members of Def Leppard, Alice in Chains, America, The Strokes, Prince, and more.
Outside of the discography included in the catalog agreement, Huey and the band continued on into the 21st century, releasing lesser known albums like Plan B (2001) and their Stax Records tribute, Soulsville (2010). By 2018, Lewis announced that he was losing his hearing due to a battle with Ménière’s, an inner ear disease, but he brought the crew together for their 2020 comeback record, Weather.
Primary Wave Music’s David Weitzman says of the deal, “In the 1980’s, everyone heard Huey Lewis and the News’s many smashes on radio and saw their iconic & fun videos which appeared on MTV in endless rotation. Their incredibly crafted songs still made me smile, remind me of that seemingly more innocent era, and make me want to sing along at the top of your lungs. Primary Wave look forward to working with Huey to create new opportunities for his storied song catalog into the future.”
John Luneau, senior counsel for Primary Wave, added “We’re honored to welcome the music of Huey Lewis and the News to Primary Wave. Our entire team is looking forward to working with them to generate new and exciting opportunities for their iconic catalog.”
In recognition of ADHD Awareness Month, Billboard has partnered with All Day Dreaming, a virtual coworking platform and community for talented ADHD artists and entertainment executives and its founder Hyla to host conversations with some of the creative ADHD brains in and around music.
Here, Hyla speaks with Damien Hooper Campbell, chief impact officer at StockX, the popular online marketplace for sneakers, apparel, electronics and more. After living decades with undiagnosed ADHD, Campbell has learned to manage his condition and has become a formidable business leader reshaping workplace misconceptions about ADHD in the process.
“The best way to establish an inclusive culture is to lead by example,” says Campbell. “As executive leaders, it’s important for us to be real human beings who do not always show up like everything’s perfect. It’s important that we are open to talking about it when it’s appropriate.”
Many people with ADHD are stuck in positions without the resources they need to succeed and many managers have no idea how to utilize their neurodivergent employees. More executives are needed to help set the tone at their companies and tell their story of how ADHD can be a major company asset if you know how to use it. Campbell breaks down his journey and shares the latest insights and techniques for employees, managers and executives on how best to navigate ADHD in the corporate world.
Below is a condensed and edited version of Hyla and Campbell’s conversation. Listen to the full interview on the All Day Dreaming podcast here.
Hyla: How old were you when you first realized you had ADHD?
Campbell: My elementary school years. I got expelled from two schools between kindergarten and first grade. The administrators would tell my mother, “He’s smart, he’s in advanced reading and mathematics classes but he’s got to stop walking out in the middle of class and getting into fights. We think Damien has ADHD.” In the ’80s, there was a negative stigma around any kind of learning disability so my mother, a strong, loving and protective single Black parent, was afraid and felt like, “Oh no, not my baby.” I had to learn to just push through.
At 26 things came to a head in my life. I was in investment banking working 70 to 90 hours a week and I couldn’t understand why I was watching other people zip through stuff. I knew I was smart and had the aptitude, but I was having a challenge. It became desperation.
I went to see Dr. Robert Johnson, dean of the medical school at Rutgers. He’s a Black man who focuses on young adults and adolescents. I didn’t go in talking about ADHD per se but in our first session he clearly picked up on it and asked, “Have you ever been tested for ADHD?”
I soon got tested and he said, “You’re off the charts for this,” and prescribed me Concerta.
How did it feel knowing you would have to take a pill everyday?
There was a bit of a stigma at first, like, do I want people to know that I take a pill every single day? But beyond my insecurity and near-term desire to hide it from the world was hopefulness because I knew that if the diagnosis was correct, and if the medication worked, that it was going to unlock a lot of things for me and make life better.
Also, I thought that this pill was going to solve everything. Like, I take this pill and it would be like the movie Limitless and I’d be good to go, but that’s not the case. You still have to put in your own effort, the pill is just an aid, essentially.
What are other tools and techniques you use to manage your ADHD? What makes you feel your most productive and focused?
At 44 years old, sleep is by far number one. Exercise is crazy important to me and diet goes right along with that. Meditation and prayer too. At one point, I was doing a good deal of chanting, it’s something that I want to get back into, I found that to be very, very centering.
You also need to think about the energy around you. It’s become cliche to say “protect your energy”, but man, it’s true. There are energizers and de-energizers; the older I get, the more intentional I am about the people around me. I’ve got a big heart and I love helping others, but I also need some people who are pouring into me. A big part of that is learning to say “no” and not always feel like I need to give a detailed reason why. Simply saying, “I’m sorry, I can’t but good luck with what you’re doing,” is really important.
When did you feel comfortable telling people at work you had ADHD? What prompted you to do it and how did you prepare?
In 2014, I was leaving the finance field in New York and moving to California to work at Google. I was literally trading suits and ties for hoodies. The tech space was so different – the offices had nap rooms, there were free Twizzlers in the cafeteria, people rocked purple hair, you could bring your dog to work, and all the cool things. Talk about sensory overload. I thought to myself, “let me pressure test this and see if they really want me.” I revealed it to the person who would become my manager in the interview process.
After a few rounds of interviews I said I want to be upfront that I have ADHD. I take medication for it every single day. Here’s some of the things it does and here’s what that means. I wanted my manager to understand how that lands on the team an how I work best.
I figured, if I’m going to do this – if I’m going to make this change – let’s go all the way and be completely transparent. That way I know you want me for who I am.
So in the interview process, you’re basically saying, “This is how I work and how I can be an asset to you”?
Sort of, but even to this day, I’m figuring out how I can be an asset with my ADHD. What I knew for sure, was that I was not going to be the most organized individual, and I wasn’t a project manager so I needed them to know that.
If it comes to engaging with other human beings, being creative, brainstorming and even strategy, I’m most certainly your guy. As for the operational execution, that’s something I’m gonna have to work a little bit harder at. While finding the right balance is something I’m still figuring out today, I’ve come to learn that more structure is actually good for me.
What do you say to someone who is afraid to tell their employer they have ADHD for fear it could hurt their standing at work?
First, I would validate them and say that’s a real feeling. It’s easy for me to tell you, “Oh, don’t worry about that. Forget it.” That’s a bunch of BS.
Second, I would ask that the person do a visualization. Close your eyes and think one year out. You’re in that job and you haven’t disclosed your ADHD. You haven’t discussed your needs and you’ve been wearing the mask that we all put on so many times as human beings, the mask that we think our employer wants to see. Think about the moment when the real you starts to rear its face in the form of ADHD. Now you’re having to compensate, and use your energy not towards the job but to cover your ADHD. Maybe you’re underperforming, maybe you’re having to overproduce and overcompensate. Now think about the burnout and anxiety that comes with that.
Third, I’d say you’ve done a bait and switch on your employer. You wouldn’t want them showing you a misleading glossy brochure. Oh, look at this wonderful, beautiful place to work, and everybody’s so happy and then you get there and find out that it’s toxic. You’d be pissed. So why do it to them?
Lastly, I’d say, it’s better to know now that you can be the real you rather than find out later that you can’t be yourself. And you’d have nobody else to blame except yourself. It’s one of those very personal and professional maturity stages that get you to feel confident enough to say “I need to disclose this now because it won’t be good for either one of us if I don’t.”
Would you recommend people bring up their ADHD in the interview process? What’s your advice on how to approach that?
A lot of that depends on where you are in your life, how comfortable you are saying it, and the severity of how you’re affected by it. I don’t have a one size fits all prescription for folks.
The first thing you should do is research the hell out of whatever organization you’re going to work for to see what their company culture is like. Do they have an ERG [Employee Resource Group] or a benefits team that actually focuses on things that one would classify as a disability? Are they the kind of company that actually welcomes people who have those disabilities with open arms?
If you’re junior in your career, and depending on your socioeconomic group, you might not have the luxury of getting passed up on a job that your family might be depending on you for. I can’t front and act like everybody has the luxury of feeling free to tell their employer. However, the more senior I’ve become, I’ve learned that having that conversation on the front-end has led to better resources. For example, getting an executive assistant was a game changer. You mean, there’s somebody who’s going to help me make sense of all the ideas in my mind that sometimes isn’t super productive? Beautiful!
In addition to an executive assistant, what are some resources, at all levels of the org chart, that are reasonable to ask for? Maybe things people wouldn’t think they could have access to.
Again, ask if there’s an ERG, or an affinity group at the organization that’s focused on inclusion. Companies these days often have employee resource groups for women, LGBTQ+, Black and Latinx communities, and more.
Additionally, ask about benefits. We often talk about benefits in the context of monetary compensation like bonus structures or equity, but ask what kind of insurance platform the company uses. Ask about access to therapy. Are they allowing you a certain number of sessions with a therapist? Is it unlimited? If not, how much will it cost me to keep going? Do they actually give you the ability to choose a therapist of color, specific gender or speciality? Does the insurance cover prescription drugs? Do they have a program where your medication can be delivered to you? I can’t tell you the number of times I’ve totally screwed myself because I waited for my prescription to run out. If I can’t get a session with my therapist right away then I’m stuck without my meds.
Third, if project management and organizational structure is a challenge for you, see what resources they have to help with that. We don’t all have to be experts at everything; maybe there are developmental opportunities you can tap into.
I’ve also heard from people in the All Day Dreaming community that you should think about where you sit. Are you more productive around others or better alone? At 8 a.m. or 8 p.m.? Is there flexibility for when you’re available? And asking for things like noise canceling headphones or paying for your Headspace app. It’s your boss’s job to put you in a position to win and these are easy things to help you do that. Also ADHD is covered under the Disabilities Act so there are legal protections employees have.
Totally. There’s some things that you can try to solve for in advance. And then there’s some things that you do once you start, which I call “contracting”. If you’re a manager, you should be contracting with your team about what works best for you and what works best for them around communication. A few examples:
If you receive an email on the weekend, are you expected to respond immediately?What’s the most efficient way for you to communicate? Email, Slack?What forms of communication are you uncomfortable with? Text, social DMs?
Even if you’re not the manager, it’s important to contract on those things and make sure your team knows what works best for you – obviously, within reason – and vice versa.
What’s your advice to a manager or executive who doesn’t know how to best utilize or manage a person with ADHD?
Be clear on your expectations of the outcome, but also give them the space to be creative in how they get there. You want to provide some structure by being really clear about what you expect and what the non-negotiables are. At the same time, you’re also giving them the space and freedom to be creative. People with ADHD often take a route many have never considered to get something done.
The other thing that’s really important is to have frequent check-ins on how it’s going. As roles and projects evolve, what you contracted on day one may need to change on day 90 or year two.
Finally, give ADHD people latitude for creativity. Celebrate them and leverage their spontaneity when team culture gets a little stale. They can be a great asset.
A large percentage of ADHD people work in creative industries. However, I hit a wall when it came to finding music executives at high levels willing to talk about their ADHD publically. This was especially true of the women I spoke to who know the power of their story but weren’t ready to tell it.
You’re one of the few C-suite execs of any industry who is very publicly open about it. What’s your advice for someone at your level who wants to share their story?
I think there’s two layers of going public about it. Start with your team. I talk to my teammates about it, I’m okay with it, and I’m very proud of it. I explain to them how seeing a therapist, getting a diagnosis, and taking medication has changed my life. Then normalize it at the company level.
One of the first times I brought it up in a company-wide all-hands meeting, I was traveling around the world to the company’s different global locations. I misplaced my luggage and was without my medication for four days. I got up on stage in front of 300 employees and I said, “Look, I’m here with you but if you see me rambling a little bit, just know, it’s because I have ADHD.” And told them the story of losing my bags and meds. After that session I had an employee come up to me and say they really appreciated that I shared my story because they had never seen a leader do that publicly. They told me that they also have ADHD and take the same meds.
I’m fortunate at StockX because we have an amazing benefits program that offers therapy and more. We have a CEO who understands the importance – he sits on the board of nonprofits that focus on mental health – so it’s really part of the company culture. While we continue to create new initiatives around inclusion, I’m of the mind that the best way to establish an inclusive culture is to lead by example. As executive leaders, it’s important for us to be real human beings who do not always show up like everything’s perfect. It’s important that we are open to talking about it when it’s appropriate.
Hyla is an award-winning documentary filmmaker, interviewer and the founder of All Day Dreaming, a community for talented ADHD creatives and entertainment executives struggling with focus, productivity and burnout. All Day Dreaming hosts daily virtual co-working sessions, weekly Q&As with experts, a newsletter and a podcast. For more information and memberships go to AllDayDreaming.org.
Billionaire Elon Musk is already floating major changes for Twitter — and faces major hurdles as he begins his first week as owner of the social-media platform.
Twitter’s new owner fired the company’s board of directors and made himself the board’s sole member, according to a company filing Monday with the Securities and Exchange Commission.
He’s also testing the waters on asking users to pay for verification. A venture capitalist working with Musk tweeted a poll asking how much users would be willing to pay for the blue check mark that Twitter has historically used to verify higher-profile accounts so other users know it’s really them.
Musk, whose account is verified, replied, “Interesting.”
Critics have derided the mark, often granted to celebrities, politicians, business leaders and journalists, as an elite status symbol.
But Twitter also uses the blue check mark to verify activists and people who suddenly find themselves in the news, as well as little-known journalists at small publications around the globe, as an extra tool to curb misinformation coming from accounts that are impersonating people.
“The whole verification process is being revamped right now,” Musk tweeted Sunday in response to a user who asked for help getting verified.
On Friday, meanwhile, billionaire Saudi Prince Alwaleed bin Talal said he and his Kingdom Holding Company rolled over a combined $1.89 billion in existing Twitter shares, making them the company’s largest shareholder after Musk. The news raised concerns among some lawmakers, including Sen. Chris Murphy, a Democrat from Connecticut.
Murphy tweeted that he is requesting the Committee on Foreign Investment — which reviews acquisitions of U.S. businesses by foreign buyers — to investigate the national security implications of the kingdom’s investment in Twitter
“We should be concerned that the Saudis, who have a clear interest in repressing political speech and impacting U.S. politics, are now the second-largest owner of a major social media platform,” Murphy tweeted. “There is a clear national security issue at stake and CFIUS should do a review.”
Having taken ownership of the social media service, Musk has invited a group of tech-world friends and investors to help guide the San Francisco-based company’s transformation, which is likely to include a shakeup of its staff. Musk last week fired CEO Parag Agrawal and other top executives. There’s been uncertainty about if and when he could begin larger-scale layoffs.
Those who have revealed they are helping Musk include Sriram Krishnan, a partner at venture capital firm Andreessen Horowitz, which pledged back in the spring to chip in to Musk’s plan to buy the company and take it private.
Krishnan, who is also a former Twitter product executive, said in a tweet that it is “a hugely important company and can have great impact on the world and Elon is the person to make it happen.”
Jason Calacanis, the venture capitalist who tweeted the poll about whether users would pay for verification, said over the weekend he is “hanging out at Twitter a bit and simply trying to be as helpful as possible during the transition.”
Calacanis said the team already “has a very comprehensive plan to reduce the number of (and visibility of) bots, spammers, & bad actors on the platform.” And in the Twitter poll, he asked if users would pay between $5 and $15 monthly to “be verified & get a blue check mark” on Twitter. Twitter is currently free for most users because it depends on advertising for its revenue.
Musk agreed to buy Twitter for $44 billion in April but it wasn’t until Thursday evening that he finally closed the deal, after his attempts to back out of it led to a protracted legal fight with the company. Musk’s lawyers are now asking the Delaware Chancery Court to throw out the case, according to a court filing made public Monday. The two sides were supposed to go to trial in November if they didn’t close the deal by the end of last week.
Musk has made a number of pronouncements since early this year about how to fix Twitter, and it remains unclear which proposals he will prioritize.
He has promised to cut back some of Twitter’s content restrictions to promote free speech, but said Friday that no major decisions on content or reinstating of banned accounts will be made until a “content moderation council” with diverse viewpoints is put in place. He later qualified that remark, tweeting “anyone suspended for minor & dubious reasons will be freed from Twitter jail.”
The head of a cryptocurrency exchange that invested $500 million in Musk’s Twitter takeover said he had a number of reasons for supporting the deal, including the possibility Musk would transition Twitter into a company supporting cryptocurrency and the concept known as Web3, which many cryptocurrency enthusiasts envision as the next generation of the internet.
“We want to make sure that crypto has a seat at the table when it comes to free speech,” Binance CEO Changpeng Zhao told CNBC on Monday. “And there are more tactical things, like we want to help bring Twitter into Web3 when they’re ready.”
He said cryptocurrency could be useful for solving some of Musk’s immediate challenges, such as the plan to charge a premium membership fee for more users.
“That can be done very easily, globally, by using cryptocurrency as a means of payment,” he said.
From deconstructing Rosalía’s success to announcing a novel partnership between See Tickets and Spain’s powerful media conglomerate Grupo Prisa, networking, technology and live events were at the forefront of the tenth annual edition of BIME, the international music industry gathering that took place in Bilbao, Spain, Oct.26-29.
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Created by entertainment company Last Tour, best known for its live events, BIME remains focused on bridging the Latin American and European markets, with a focus on live events.
This year’s anniversary event highlighted a recovered, post-COVID scene, with some 2,500 in-person attendees for both the “Pro” side of the event (made up of panels, speed dating and networking) and over 60 live shows through out Bilbao. Here are some stand out moments:
1. Rebeca León on her gut instinct and Rosalía’s au natural posts: “The pendulum has swung to the less pretentious,” said super manager León when asked about Rosalía’s frequent clean-faced, home-made posts. “It’s more about hand-held videos as opposed to showing things like a private plane.” And while León’s instinct may have served her well when she signed a still-unknown Rosalía several years ago, León admits she sometimes has to quiet her gut to take stock of opportunity. “Even when my intuition says run, run, run, I stop and listen. It’s important to consider all offers.”
2. De La Ghetto gets pragmatic: The Puerto Rican reggaetonero with multi-genre sensibility displayed sophisticated business savvy and was generous in his advice to up and coming artists. He is involved “in every single aspect of my business,” he said bluntly. In his early days, he recounted, he was relentless in giving away his music–CDs were still around—so fans would get to know him. Now, he uses social media relentlessly for the same objective. “Believe in yourself,” he said. “No one thought someone who looks like me, and who sang with an R&B sensibility would do well.” More important, he stressed, never sign anything that your lawyer doesn’t look at. “I have my lawyer, my manager has his lawyer,” he said. “Having a lawyer is the best investment.”
3. Ady Harley and Nerea Igualador on digital marketing strategies: Harley, Meta’s head of music label partnerships for Latam and U.S. Latin, and Igualador, VP of digital business for Sony Music Entertainment, provided a roadmap for effective social media marketing and promotion. “Today, you can create a marketing plan on social media that leads to consumption,” said Harley.
It starts with generation an audience, says Igualador, and that requires three steps: “Discovery; I need my audience to discover me. It’s one of the biggest challenges. There are 60,000 songs released per day, and you have to define their place and audience.” The second step, she says, is taking that audience to consume the music. “All our actions have consumption as a final objective.” And finally, there’s engagement. “Once my audience discovers me, how do I keep them engaged.”
4. James Cruz gets emotional: In a conversation with BBC London’s Beatriz de La Pava, the rap and hip-hop producer lamented the loss of community in rap music. “I come from hip-hop where we really tried to help each other,” he said. “I don’t see a unified front anymore.” Cruz also recalled growing up Latin at a time when being Latin was far from appreciated. “When I see the growth of Latin music, I get tears in my eyes. It’s incredible. We had to take the jobs no one wanted to do […] We had to create our on status and our own algorithm.”
5. See Tickets and Grupo Prisa Announce partnership: The global ticketing platform, which operates in 10 countries, and the Spanish media conglomerate announce an exclusive alliance. Not only will See Tickets sell Prisa’s many festivals and concerts, it will also receive promotion and placement on Prisa’s multiple media platforms, including leading Spanish daily El País, leading radio network 40 Principales and its social media.
6. Billboard announces the launch of Billboard Español: Billboard officially launched Billboardespañol Sept. 15. A little after the one month mark, visits to the all-Spanish site are growing 24% week by week. The site was officially presented to the Spanish industry during BIME.
The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online.
Apple Music may have opened the floodgates on Monday when it announced that it will raise prices on its Apple Music subscription service, as well as its Apple TV+ streaming video on-demand service and its Apple One bundle of services (which includes Apple Music).
Apple wasn’t the first music streaming company to broadly raise prices. Deezer started raising prices in France in January. In May, Amazon hiked prices for Prime members for Amazon Music Unlimited from $7.99 to $8.99 (or $79 to $89 if paid annually) and for the single-device plan (for Amazon’s Echo and Fire TV devices) from $3.99 to $4.99 per month. And Spotify started testing the waters in 2021 by modestly raising prices on some plans in select markets – 46 price increases in total, according to company executives. In the U.S., the family plan price increased from $14.99 to $15.99.
But Apple’s decision to ask subscribers for more money signals a tide change and will likely embolden competitors to follow suit. Speaking during Spotify’s earnings call on Tuesday, CEO Daniel Ek strongly signaled the company would follow Apple’s lead. A price increase in the U.S. “is one of the things we would like to do,” Ek told investors, and Spotify could raise prices in 2023 after it has conversations “in light of these recent developments with our label partners.”
Prices for music subscription services have remained stubbornly low for the past decade — to the chagrin of rights holders and creators who want higher royalties from streaming platforms. Spotify launched in the U.S. in 2011 at $9.99 per month. Apple Music launched in 2015 with a standard $9.99 individual plan and a $14.99 family plan, the first of its kind to offer up to six subscriptions per account for $14.99. Spotify, Tidal, Amazon Music and the now-defunct Google Play Music followed with equivalent offerings in the following months. Family plans resulted in a lower average revenue per user but helped reduce churn, Spotify has said repeatedly, and has increased the average subscriber’s lifetime value. Those gains obviated the need to raise prices and allowed Spotify and others to focus on growth instead.
Apple and Amazon certainly had incentive to raise music subscription prices. Apple Music and Amazon Music Unlimited offer high-fidelity audio as a standard feature even though licensing deals with record labels for premium audio are more costly for streaming services, according to industry sources. Unless Apple and Amazon raise prices to offset the lower margins, they must eat the higher costs associated with offering better audio quality. Spotify, on the other hand, does not yet offer high-fidelity audio. Plans for just such a product, called HiFi, have not materialized after announcing the project would come out in 2021. Recently, the company has been surveying customers regarding a more expensive package that would include HiFi, as well as other products.
But now Apple has effectively given its competitors cover to raise their prices, too — whether they offer high-fidelity audio or not. Deezer already planned to raise prices in the U.S. and Germany this month and in Brazil in December. Still, its competitors’ decisions to raise prices “makes us more competitive,” Deezer CEO Jeronimo Folgueira said during Friday’s earnings call, and “opens the door for further prices increases down the line.”
Spotify certainly appears confident it can charge more. Thus far, its price increases had results “as good as we would have hoped for,” said Ek said during the earnings call. “We believe we have significant pricing power and we’re offering an amazing consumer value proposition.” Other metrics seem to have convinced Spotify the time is right to raise prices: engagement continues to increase, and Spotify has “the lowest churn of any competitor,” according to Ek. Put another way, Spotify thinks it can raise prices without fear that a significant number of people will walk away.
While accepting the Spirit of Life award at the City of Hope’s star-studded 2022 gala alongside his longtime business partner and even longer-time brother Monte on Thursday evening, Avery Lipman couldn’t let the moment pass without nodding to the siblings’ breakthrough act.
“After a few close calls with Chapter 11, our first big break came…with a band called the Bloodhound Gang,” said the Republic Records co-founder, eliciting a clap from what sounded like a single person in the crowd. “Yeah, I usually get that reaction,” he cracked. “Liked by few, hated by most, but what can I say.”
It was a cheeky moment that preceded a moving declaration from Monte, who co-founded Republic with his younger brother from their kitchen table in 1995. After listing all the roles he’s known for filling — music executive, husband and father — he continued, “But what you don’t know about me, [is] I’m also a cancer survivor.”
“What started out as a routine trip to the doctor eight years ago escalated into a full-blown medical emergency that changed my life forever,” Monte recounted. “For those of you in this category, you understand the crippling fear and anxiety you experience during those dark moments. I’ve always been sympathetic and responsive to cancer-fighting initiatives, but until you go through the fire yourself, you don’t really understand the gravitas of the emotional distress which becomes all-consuming. You can’t eat, you can’t sleep and you can barely breathe.”
While the gala, held on the grounds of the Pacific Design Center in West Hollywood, was an opportunity for music luminaries to mix and mingle, the evening kept a heavy focus on the City of Hope’s life-saving work as a world-class cancer care facility. In addition to soliciting and receiving donations of up to $100,000 — including from the Lipmans themselves — the event featured live testimonials from a number of City of Hope patients who recounted their experiences and successful cancer treatments at the world-renowned facility.
Also offering a testimonial on Thursday evening was Republic signee Billy Porter, who played emcee for the evening, exuberantly making his way through the crowd of well-heeled attendees to solicit personal anecdotes about the Lipmans from longtime colleagues including Michele Anthony, Wendy Goldstein and Jody Gerson. In addition to cancer research and treatment, Porter noted that City of Hope is also devoted to two diseases he has personally been diagnosed with: diabetes and HIV. “Unfortunately these diseases are something that touch us all, but together I know we can make a difference,” he said from the stage.
Of course, every City of Hope gala is ultimately a celebration, and entertainment for the evening was provided by Republic artists including Porter — who performed the single “Audacity” from his forthcoming album — as well as Jack Johnson and new signee Sekou, who performed a stunning rendition of late Republic Records star Amy Winehouse‘s “Back to Black.” Capping the evening was a surprise performance by the Jonas Brothers, who performed two songs: their 2021 Marshmello collaboration “Leave Before You Love Me” and 2019 Hot 100 No. 1 single “Sucker.”
Jonas Brothers perform onstage during the MFEI Spirit of Life Honoring Monte and Avery Lipman on October 27, 2022 in Los Angeles.
Lester Cohen/GI for City of Hope
While Republic’s biggest star, Taylor Swift — currently enjoying massive sales for her latest album Midnights — was not in attendance, she did take part in a pre-taped sketch that saw her pit the Lipman brothers against one another in a Succession-style skit. “I think Monte’s holding you back,” Swift tells Avery over the phone as someone off-camera pours champagne into her glass. “He’s like sort of a house cat and you’re more of a snow leopard type, you know what I mean?”
The night did boast several Republic stars IRL, including John Legend, The Weeknd and recent signee Yung Gravy, who told Billboard that part of the reason he signed with Republic was because the Lipmans “don’t feel like a boss…they feel like friends.”
Speaking of bosses, the evening featured a head-spinning lineup of top music executives. In addition to the Lipmans’ Republic Records and UMG colleagues — also including UMG CFO and executive vp Boyd Muir, Capitol Music Group chair and CEO Michelle Jubelirer, Republic Records CCO Dave Rocco and UMPG president Evan Lamberg, who made the evening’s opening remarks — other bigwigs in attendance included Sony Music Publishing CEO Jon Platt, former Recording Academy chairman and CEO Neil Portnow, iHeartMedia entertainment president John Sykes LaPolt Law founder Dina LaPolt, CAA Music head Rob Light and Epic Records CEO and 2019 Spirit of Life honoree Sylvia Rhone.