State Champ Radio Business News
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Led by strong subscription growth and a dominant quarter from Taylor Swift, along with strong sales of releases by Olivia Rodrigo, Morgan Wallen and Seventeen, Universal Music Group (UMG) grew revenue 3.3% (9.9% at constant currency) to 2.75 billion euros ($3 billion at the period’s average exchange rate) in the third quarter, the company announced Thursday (Oct. 26).
UMG will get another boost this quarter from Swift’s release of the re-recorded version of her 2014 album, 1989, on Friday. “She is a phenomena,” said UMG chairman/CEO Lucian Grainge, listing a string of global chart successes of Swift’s previous 2023 album of re-recordings, Speak Now (Taylor’s Version), released in July. “This level of performance can only really be described as truly astonishing.”
UMG’s fourth quarter will also benefit from the new release of an unreleased track by The Beatles, “Now and Then,” on Nov. 2. “Now and Then” was written by John Lennon in the late ‘70s and just recently finished by the band’s remaining members, Paul McCartney and Ringo Starr. “The fact that more than four decades after its original recording, we can use the latest technology to bring this recording everywhere is truly remarkable and something that we’re very proud of,” said Grainge.
Third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EDITDA) increased 5.1%, or 11.3% at constant currency, to 581 million euros ($632 million), and adjusted EBITDA margin improved 0.3 percentage points to 21.1%.
The company’s recorded music segment declined 1.1% to $2.04 billion ($2.2 billion), a 5.2% increase at constant currency (or an 8.9% increase excluding a 71 million euro legal settlement recognized in the prior-year quarter). Subscription revenue grew 6.7% (13% at constant currency), despite not yet receiving a boost from recent price increases at Spotify and YouTube Music. Those benefits are expected to be felt in the fourth quarter, said CFO Boyd Muir, who noted that “each of these services raised prices in certain markets, and on certain plans, not across all subscribers.” YouTube, which Muir said “has a particularly global subscriber base,” raised prices first in the United States and other markets in the following weeks. As a result, “the benefit will initially be more limited.”
Recorded music’s ad-supported streaming revenue grew 5%, the same as the previous quarter. UMG remains “cautious” about ad-supported growth in the coming quarters, said Muir. Results in any quarter come from a mix of fixed and variable deal structures, he explained, meaning UMG’s results aren’t a close reflection of trends in the advertising market. “We do, however, continue to see opportunities for improved deal terms and product innovation driving higher levels of growth in this business over the medium term,” he said.
Downloads and other digital revenue declined 56.9% (53.2% at constant currency) due to the prior-year legal settlement and a broad decline in download sales. Licensing and other revenue declined 11.8% (6.9% at constant currency) due to a strong prior-year quarter that benefitted from artists’ return to touring as the concert business recovered from pandemic-era shutdowns.
Music publishing revenue grew 17.5% (24.6% at constant currency) to 491 million euros ($534 million). Excluding a 53 million euro ($58 million) catch-up payment in the music publishing segment related to the Copyright Royalty Board’s (CRB) Phonorecords III ruling for streaming royalties from 2018 to 2022, publishing revenue improved 4.8% (11.2% at constant currency).
Publishing’s digital revenue grew 25.6% (33.6% at constant currency) on strong streaming and subscription growth and the CRB III catch-up payment. Synch revenue declined 3.5% (and grew 3.8% at constant currency) while mechanical revenue was stable.
Revenue growth “is beyond our expectation and guidance,” said Muir, while noting that “the revenues that are incremental to our expected growth are actually coming from lower-margin areas of our business.” In the third quarter, 75% of UMG’s revenue above analyst’s consensus expectations came from merchandise and physical products. “They are EBITDA-accretive, but margin-dilutive of the business segments we must pursue,” said Muir. UMG still expects a one-point improvement in adjusted EBITDA in calendar year 2023.
Revenue grew 3.3% (9.1% at constant currency) to 2.75 billion euros ($3 billion).
Recorded music revenue declined 1.1% to $2.04 billion ($2.2 billion), a 5.2% increase at constant currency.
Publishing revenue grew 25.6% (33.6% at constant currency), or 4.8% (11.2% at constant currency) excluding a CRB III retroactive royalty adjustment.
Adjusted EBITDA increased 5.1%, or 11.3% at constant currency, to 581 million euros ($632 million).
Adjusted EBITDA margin improved 0.3 percentage points to 21.1%.
Investors in Hipgnosis Songs Fund on Thursday overwhelmingly demanded a new board make structural changes to the troubled music rights company in ways that don’t include selling off part of its 65,000-song catalog, which includes compositions by Neil Young, Shakira and the Red Hot Chili Peppers.
At the company’s annual meeting of shareholders in London, a majority of investors voted no on a resolution “to continue running the fund in its current form”–what’s known as a continuation vote — and they rejected a plan to sell a package of 29 song catalogs to Hipgnosis’ Blackstone-backed sister fund, according to the fund.
The ‘no’ vote signals unequivocal shareholder anger with the company founded by Merck Mercuriadis, and it kicks off a 6-month countdown for the board to come up with a plan “for the reconstruction, reorganisation, or winding-up of the company,” possibly “liquidating all or part of the company’s existing porfolio of investments,” according to the board’s statement.
“While shareholders have not supported our proposed transaction or the continuation vote, it is clear that they share our belief in the inherent quality and potential of these assets,” Sylvia Coleman, senior independent director of Hipgnosis Songs Fund said in an emailed statement. “Directors are now expediting the appointment of a new chair who will drive the strategic review we have already announced, with a clear focus on delivering improved shareholder value.”
Investors voted against the re-election of Hipgnosis Songs Fund board Chair Andrew Sutch at the meeting, speeding up the timetable for his departure. Sutch had already announced he would step down before the company’s next annual general meeting in 2024. On Wednesday, the day before the company’s annual meeting, fund directors Andrew Wilkinson and Paul Burger resigned, and last week, the board embarked on a strategic review into the company’s management team.
“Shareholders have spoken and sent a clear message that the status quo is unacceptable and that a total reset is required,” Tom Treanor, the head of research at Asset Value Investors, which owns a roughly 5% stake in the fund, said in an email. “We look forward to a refreshed board working closely with shareholders to turn the company around.”
Mercuriadis, the former manager of Elton John and Guns N’ Roses, will continue as Hipgnosis Songs Fund’s investment advisor. Mercuriadis founded Hipgnosis in 2017 and took it public on the London Stock Exchange (LSE) in July 2018.
Hipgnosis Songs Fund’s share price rose 1.2% to 75.90 British pence ($0.92) at 11:20 in London.
HarbourView Equity Partners has announced two new acquisitions: a share of Fleetwood Mac‘s recorded royalties owned by Christine McVie‘s estate and a share of Pat Benatar and Neil Giraldo’s publishing and recorded music assets.
Financial terms of the transactions were not disclosed.
McVie, who died in November 2022 at age 79, was the keyboardist and one of the vocalists in Fleetwood Mac as well as one of its primary songwriters. She performed on all of the band’s albums beginning with 1971’s Future Games, including the seven-times platinum Fleetwood Mac in 1975 and the 21-times platinum Rumours in 1977. She’s best known for Fleetwood Mac songs including “Don’t Stop,” “Over My Head,” “Say You Love Me,” “Little Lies,” “Everywhere,” “You Make Loving Fun” and “Songbird.”
“Christine’s remarkable talents played an integral role in shaping Fleetwood Mac’s sound,” said Harbourview founder Sheresse Clarke Soares in a statement. “The band’s timeless music and worldwide influence continues to captivate all generations of listeners today. We are honored to uphold that legacy as we welcome Christine’s lifetime of work with the band into HarbourView. Christine is a decorated and iconic legend in the history of Rock ‘n’ Roll. She is a global treasure. We hold her works with pride.”
Together, Benatar and her lead guitarist and producer Giraldo, whom she married in 1982, crafted all of Benatar’s albums, including two that went multi-platinum (Crimes of Passion and Precious Time), and five that went platinum (In the Heat of the Night, Get Nervous, Tropico, Live from Earth and greatest-hits compilation Best Shots). Their biggest hits include “We Belong,” “Invincible,” “Love is a Battlefield,” “Promises In The Dark,” “We Live For Love,” “Heartbreaker” and “Hell Is For Children.” According to a press release, they’ve sold more than 30 million records worldwide.
Clarke Soares added of the Benatar and Giraldo acquisition, “We are overjoyed to welcome into our repertoire the iconic catalog of Pat and Neil. The works are cross generational, inspirational and a perfect complement to our portfolio. The music spans generations and has seen us through moments of hope and healing. We are grateful to be stewards of this canon of work and look forward to partnering with Pat and Neil.”
McVie’s estate was represented in the transaction by her attorney Mario Gonzalez and her estate executors Paul Glass and Martin Wyatt. Benatar and Giraldo were represented by Gary Gilbert at Manatt, Phelps & Phillips. Harbourview was represented by Fox Rothschild in the McVie acquisition and by Derek Crownover at Loeb & Loeb in the Benatar and Giraldo acquisition.
Harbourview’s portfolio includes more than 24,000 songs across master recordings and publishing income streams. Other recent acquisitions include select publishing assets for “Hot Girl Bummer” star Blackbear, select recorded music and publishing assets for Wiz Khalifa, the artist royalty income stream for Nelly, the publishing catalog of Incubus and the catalog of SoundHouse Acquisitions, which holds some rights to master recordings for artists including Tech N9ne, Trey Songz and George Jones.
Thursday could be a pivotal moment in the history of Hipgnosis Songs Fund, which went public in 2018, raising $260 million, and helped legitimize song catalogs as an investment vehicle. At 10 am, shareholders will gather at United House, a stylish workspace in London’s Notting Hill neighborhood, to vote on the continuation of the publicly listed investment trust – essentially, whether to continue or wind down the fund – and a $440 million catalog sale meant to improve its struggling share price.
All signs point to shareholders rejecting both the continuation and the proposed sale of song catalogs to Hipgnosis’ Blackstone-backed sister fund. A failure of the continuation vote isn’t an immediate death knell for the fund – the board will have six months to present investors with a plan to right the ship – but it will never be the same.
If the continuation vote fails, Merck Mercuriadis, the former Elton John and Guns N’ Roses manager who founded the company and became its often provocative public face, will probably continue as the public fund’s investment advisor. But he will be working with a different board of directors at Hipgnosis Songs Fund after two directors, Andrew Wilkinson and Paul Burger, resigned on Wednesday (Oct. 25) and the board’s chair Andrew Sutch signaled he will leave before the next annual meeting. The resulting changes will likely mean more scrutiny over Mercuriadis’ management of its 65,000-song catalog, which includes compositions by Neil Young, Shakira and the Red Hot Chili Peppers.
Mercuriadis has already conceded some ground by accepting a reduced fee for managing the fund’s portfolio if the catalog sale goes through. But Mercuriadis still has the backing of the current board, plus the confidence of many shareholders. “Despite the fact that there’s lots of commentary around governance, conflicts of interest, value achieved, we see no criticism at all for Hipgnosis [Song Management] to actually do its job of managing the portfolio,” says Shavar Halberstadt, a London-based investment trusts analyst at Winterflood Investment Trusts.
As other shareholders see it, Hipgnosis Songs Fund has committed a string of unforced errors that has undercut investors’ confidence in its leadership. “I think all trust left the building, quite frankly, a while ago,” says Stifel analyst Sachin Saggar. “I have not spoken to an investor at this point — and I’ve spoken to quite a few — where any of them have any sense of confidence, trust in the current board, or the [investment] manager, frankly.”
Last week, Hipgnosis Songs Fund canceled an upcoming dividend payment to keep from breaching a debt covenant. According to the board of directors, the decision came after the independent portfolio valuer, Citrin Cooperman, cut its estimate for a retroactive royalty payment related to the Copyright Royalty Board’s decision to raise publishers’ royalty rates from subscription streaming services for the period 2018 to 2022. It wasn’t the first time: In 2021, Hipgnosis Songs Fund committed what it termed an “inadvertent breach” of a credit facility restriction.
Another blow to shareholders’ trust in the board came in 2022 when Hipgnosis Songs Fund refinanced its revolving credit facility to reduce its interest margin and provide greater financial flexibility. Many other companies refinanced debt in 2020 and 2021 to take advantage of low interest rates in the early days of the pandemic. “They waited too long and then the process took very long,” says Halberstadt.
More recently, Hipgnosis Songs Fund’s steps to address its flagging share price have attracted criticism. In September, the company announced a plan to raise $465 million by selling two catalogs — one with a $440 million deal with Hipgnosis Songs Capital, a joint venture of the public fund’s investment advisor and the investment giant Blackstone. If the sale is approved, the proceeds will fund debt reduction and share buybacks to reduce the 60% gap between the current share price and the company’s per-share net asset value (the valuation of its catalog of music rights). But sources tell Billboard that investors will likely vote no to the deal on Thursday.
With the sale price 17.5% below the catalog’s latest valuation, shareholders questioned whether the Blackstone-backed entity was getting a favorable deal, as well as if the process for soliciting other bids was transparent enough. Hipgnosis Songs Fund’s board said at the time that it created “appropriate governance arrangements and information barriers” to properly conduct a sale between two related parties.
The fund’s board said on Tuesday it received one outside offer after talks with 17 prospective buyers, but that ultimately the external parties said “they could not justify” a higher offer price than the $440 million offered by Hipgnosis Songs Capital.
“The shareholders are very upset with the capital stance, the dividend cut, the strategic review, and the related party transaction, and they are highly likely to vote against continuation on Thursday,” predicts Matthew Hose, a London-based analyst for Jeffries. Analysts at Investec encouraged shareholders to vote against both continuation “in order to reinforce the point that the status quo is not an option,” they wrote in an Oct. 19 note to investors. Alternative Value Investors Limited, which owns a 5% stake in Hipgnosis Songs Fund, also encouraged other shareholders to vote against both continuation and the catalog sale in an Oct. 16 letter.
If the continuation vote fails, the board has six months to create a proposal “for the reconstruction, reorganization or winding-up” of the fund, according to its prospectus. “If shareholders vote against continuation on Thursday, it’s almost like it’s the end of the beginning, not the beginning of the end,” says Hose. AVI spoke to “a majority” of shareholders and found none are in favor of an immediate portfolio sale, wrote AVI head of research Tom Treanor.
Despite their frustration, Hipgnosis Songs Fund’s investors aren’t looking for a nuclear option. Rather, shareholders want new leadership on the board and an orderly process, says Saggar. “Nobody is looking at blowing this up. Nobody is looking to do this in a nonsensical way.” AVI emphasized this point in an attempt to sway undecided shareholders. “Voting against continuation should not be perceived as a negative stance to take,” wrote Treanor.
Even if shareholders eventually push to wind down Hipgnosis Songs Fund, there are questions about what amount the catalog could fetch for shareholders. While Hipgnosis Songs Fund has reported that its portfolio is valued at $2.8 billion, sources tell Billboard that its lenders likely value it closer to $1.8 billion, or what banks estimate they could get for the assets in a distressed sale. Two sources tell Billboard they predict the portfolio’s value to be somewhere between those two numbers.
To appease shareholders ahead of the vote, changes to Hipgnosis Songs Fund’s governance are already underway. The board recently hired an executive search firm to aid in finding Sutch’s replacement on the board, and Wilkinson and Berger’s resignations are effective immediately. The board intends to appoint Cindy Rampersaud, an independent non-executive director, to replace Wilkinson as chair of the audit and risk management committees.
In exchange for voting yes to continue the fund, the board has also offered shareholders the right to vote on continuation again in 2026 and 2028, giving them more opportunities to push for change than the standard five-year window between continuation votes typical of U.K. investment trusts. Also, Hipgnosis Songs Fund says it will terminate the investment advisor’s contract if the share price’s discount to NAV is 10% or more for the month of January 2025. Given the current share price — Hipgnosis Songs Fund shares are current trading at 60% below NAV — that could mean the investment advisor receives a 12-month notice in fewer than 15 months from now.
But getting rid of Mercuriadis would create challenges that shareholders might want to avoid. If Mercuriadis departs and Hipgnosis Songs Management is unable to find a replacement satisfactory to the public company’s lenders within 90 days, Hipgnosis Songs Fund would be in default and lenders may demand repayment of all amounts in the revolving credit facility, according to the company’s prospectus. Also, Hipgnosis Songs Management retains an option to acquire Hipgnosis Songs Fund’s portfolio if its investment advisory contract is canceled. When the board initiated a strategic review last week — another move to appease shareholders ahead of the annual meeting — it asked Hipgnosis Songs Management to remove the clause from its contract but was rebuffed. The option to purchase could be problematic for investors who want to maximize bids on the catalog.
“If you didn’t have that option, you could run an open sales process,” says Hose. “Will that option prevent others from bidding?”
Hipgnosis Songs Fund was initially pitched to investors as a source of reliable returns from classic, successful songs during a streaming-led boom in royalties, the Guernsey-based company monetizes proven song catalog and pays dividends. That catalog is seen as the company’s biggest strength and holds more opportunity as streaming expands globally and music businesses explore new ways to monetize their catalogs. But all signs point to shareholders needing more trust in how Hipgnosis Songs Fund is governed.
“The company has a bright future,” writes AVI’s Treanor. “And that may well be with the current manager on revised terms should a new board decide so following consultations with shareholders. But we do, however, strongly believe that a reset is urgently required.”
SYDNEY, Australia – After seven days, roughly 300 performances (nearly 40% of which were international) and upwards of 600 speakers, the inaugural SXSW Sydney is done and dusted.
The likes of Chance The Rapper, Nicole Kidman and Black Mirror creator Charlie Brooker were among the guest speakers who donned a SXSW Sydney lanyard and brought star power to the show, as Sydney turned it on for the music, tech, film and entertainment extravaganza.
October in Australia is a place and time asking for action. In this music and sports-mad country, the weather is heating up, but there’s a lack of competition for eyeballs, attention and cash. The Bigsound music conference finished more than a month ago, the ARIA Awards is a month away. The AFL and NRL seasons are recently wrapped up, the quadrennial cricket and rugby World Cups are playing out abroad, the NBA season has yet to start.
With its brand splashed in the districts around Darling Harbour, and activations dotted around the city — Australia’s biggest metropolis — SXSW Sydney had the place all to itself.
Billboard was there to soak it up at the International Convention & Exhibition Centre, the Tumbalong Park outdoor events space, and the network of pubs, bars and venues that embraced SXSW for a full week, from Oct. 15-22, completing its first expansion out of Austin, TX.
Check out five highlights from the inaugural SXSW Sydney below.
Songtradr’s missionTiming is everything in music and business. So it made perfect sense for Songtradr founder and CEO Paul Wiltshire to participate in a special interview at SXSW just days after his company completed the acquisition of Bandcamp. “Our mission is to stabilise and grow,” the U.S.-born and Australian raised, California-based executive said of the new asset. “There’ll be no adverse changes to the existing product. The team is amazing, and the Bandcamp community is extraordinary and we want to protect that. We’re very confident about the future and where we’re going to be able to go together.”
Wiltshire also confirmed that a flotation for Songtradr is something his team has “definitely looked at.” He continued, “we don’t have a definite timeline as to whether that will happen. The public markets have gone through pretty significant changes in the last two years in particular. But it’s something we continue to observe and we do love Australia.” The ASX, it’s “a very healthy market.”
Will ABBA Voyage set sail?Thanks to the power of Netflix, the story of Per Sundin and his frontrow seat for the evolution of Spotify is known to millions. The veteran Swedish music industry executive has worked closely with the late Avicii, Tove Lo, Swedish House Mafia, and, of course, ABBA, and is the face of “The Industry” in The Playlist, Netflix’s dramatized account of Spotify and its founder Daniel Ek. After a decades-long career with major music companies, first with Sony Music then Universal, Sundin now serves as CEO of Pophouse Entertainment, the Stockholm-based entertainment company which, among its assets, owns the SHM catalog and a 75% stake in Avicii’s works. Pophouse is the lead investor and production partner for ABBA Voyage, the virtual live concert experience in London.
Sundin, on his first trip Down Under, regaled with tales of the music industry post-millennium SNAFU, working with Björn Ulvaeus (in short, the ABBA star won’t settle for second-best), and he told SXSW Sydney what everyone wanted to hear: that ABBA Voyage could set sail to these parts.
“We have a lot of interest from Singapore and from Australia, from (promoter) Paul (Dainty) and (TEG CEO) Geoff (Jones) and his team. We’ll partner up with them to see if we can find a place, because you need to build an arena. Because in the roof of the building is 600 tons of equipment,” Sundin said during the featured session, Unlocking the Power of Entertainment. “We can’t just go into an existing theater. That’s a challenge for everyone.”
There has been talk about doing another ABBA Voyage in Europe, and, Sundin added, “Las Vegas is really calling for it.”
Chance raps on hip-hop and capitalismWhen Chance The Rapper was announced as a keynote speaker at SXSW Sydney, some delegates were quick to hose down the excitement. The Chicago hip-hop star wasn’t booked to perform on this trip, aside from his on-stage interview with The Brag Media editor-in-chief Poppy Reid. And, for those with a decent memory, he canceled his appearance at the 2019 Splendour In The Grass festival, just one day before he was due to deliver the closing headlining set.
There was no drama, just action, as Chancelor Johnathan Bennett made the journey and delivered a compelling SXSW Sydney Q&A which delved into capitalism, and hip-hop on the genre’s 50th anniversary.
“We all live in a capitalist society and no matter how close you are to your moral center, you’re still working and operating within a system that lives on the backs of the least empowered people. I do a lot of philanthropy work, I do a lot of advocacy, I do a lot of just trying to help people,” he told Reid. “But also just the way that the world is set up right now, I gotta sell merchandise, and even producing T shirts — it’s really hard not to be a capitalist.” To be able to operate “outside of that and to create more cooperative economic systems is something that I’m working towards but I haven’t fully figured out yet.”
Chance also stepped out to enjoy some of the showcase program, throwing his support behind 11-year-old Aussie rapper Inkabee.
GenAI, Web3, Metaverse. Jump in, cautiouslyAI is “not on the horizon. It’s here now and it’s not the Wild West.” APRA AMCOS CEO Dean Ormton told guests at the PRO’s breakfast gathering at SXSW Sydney, during which the organization’s annual results were explored. Computer learning is both “a huge challenge and potential opportunity for music,” Ormston told guests. Those challenges and opportunities are something the PRO and every major content provider and partner is currently trying to figure out.
A separate daytime session on “Activating Music in Web3” brought together Con Raso (Tuned Global), Matty Soudagar (The Metakey) and Becky Yeung (Warner Music Group). “We’re coming into a space where some of these experiments are making some real impact,” explained Soudagar. Four years ago, the popular Roblox game has gone from 20 million users a month to 200 million users a month today, he continued. “It could be half a billion a month in a few years from now. If you zoom out of this metaverse conversation, we realize its primed for exponential growth. The next stage is, how to put together a solution that brings everything together in a frictionless manner for a specific industry. We’re at the stage where we have the technology and we can bring together some strong minds.”
K-pop isn’t slowing downK-pop is roaring, and there’s a lot of fuel left in the tank. Over the course of the week, Spotify House at The Lansdowne Hotel proved a popular hideaway for thousands of SXSW Sydney guests, with its curated lineup of daytime panel discussions, and evening showcases, which included hip-hop star TKay Maidza, punk outfit Teen Jesus and the Jean Teasers, Thai rapper Milli and more.
The House opened its doors on its fourth and final day for a special daytime session on Hallyu (Korean wave), featuring Jungjoo Park, Head of Music at Spotify Korea; Live Nation Australasia’s Wenona Lok; and Virgin Music’s Claire Tate.
Ten years ago when PSY’s “Gangnam Style” blew up, many observers figured Korea’s music scene was a one-hit wonder. Nope. Five years ago, folks were thinking, “this is it guys. It’ll never get bigger,” noted Lok. “This year, Live Nation, we’re bringing the first K-pop act to a stadium in Australia for the first time” with TWICE. “What’s more amazing is, it’s the first girl group of any genre to play a stadium in Australia.” In terms of streaming and ticket sales, there’s no sign of slowing for the Korean music explosion.
To drive home the point, South Korean rappers Lil Cherry and GOLDBUUDA performed at Billboard‘s one off night at The Stage.
Penske Media Corporation, Billboard‘s parent company, is an investor in SXSW.
Thomas Coesfeld says that the next 10 years will be much different for BMG than the last 10.
Navigating the onslaught of generative artificial intelligence (AI), diverging streaming economic models and the slowdown in streaming revenue growth is among the challenges “that are keeping me up at night,” says the new CEO of the world’s fourth-largest music company, who sat down with Billboard for his first U.S. interview since succeeding Hartwig Masuch in July.
At 33, Coesfeld is the fresh young face of one of Europe’s oldest and most powerful media dynasties. His grandfather was Reinhard Mohn, a legendary CEO of BMG’s German parent company, Bertelsmann. Coesfeld’s predecessor also earned a spot in the media conglomerate’s corporate pantheon. Masuch reinvigorated BMG after serving as an adviser for the company’s uncoupling from Sony in 2007, building it into an entity that generated roughly 900 million euros ($947.7 million) annually. It’s now Coesfeld’s job to lead the company beyond the 1 billion euro mark ($1.1 billion) by 2024.
The Berlin-based executive spoke candidly about the challenge he faces being a relative newcomer to the music industry and the acumen he developed while overseeing BMG’s balance sheet since 2021 as the company’s CFO. Coesfeld received a baptism by fire as one of BMG’s chief negotiators for song catalog acquisitions during the market run-up in the early 2020s. From 2021 to 2023, he helped the company land 70 deals, including acquiring the catalogs of rock icons Mötley Crüe and Tina Turner, as well as those of Mick Fleetwood, Paul Simon, The Pointer Sisters, Peter Frampton and The Hollies.
A photo of Coesfeld’s grandfather, former Bertelsmann CEO Mohn, viewing the Manhattan skyline in 1954. Much like him, Coesfeld says he has a “strong fondness” for the United States.
Urban Zintel
Bertelsmann, flush with cash after its failed acquisition bid for Simon & Schuster, has promised to invest between 5 billion and 7 billion euros ($5.3 billion to $7.4 billion) across its companies through 2025 — an infusion that should help Coesfeld outpace BMG’s nearest competitors, Concord and HYBE, which are both on track to close $300 million to $500 million in company acquisitions this year. But competition doesn’t trouble Coesfeld. He is less combative and more collaborative than is typically found in the music industry.
“I’m convinced that the key challenge of the music industry is not fighting each other,” he says. “It’s not about conventional distinctions between segments, like frontline or catalog, or companies, like majors or indies. There are bigger challenges than that. What is needed is a more collaborative approach with business partners to face this more challenging environment.”
You’ve been in the CEO seat for just over 100 days. What is the five-year plan for BMG?
My predecessor was an entrepreneur who brought Bertelsmann back into the music space. He achieved a thing you don’t see that often, particularly in media. We are a very established company on a solid foundation. Now comes a new chapter. The next iteration of BMG will focus on better engaging with our artists, songwriters and business partners. I’m truly convinced we can only be effective if we are not focusing too much on ourselves — not building too much resources internally — but instead focusing on the value creation and service delivery for the artists and songwriters. Naturally, we will continue on our investment strategy.
What does BMG taking digital distribution in-house mean for the company’s future?
First, it allows us to significantly upgrade our services for artists. We get better in our marketing ability to advocate for the songs, campaign management, things like that. Second, we get better and direct access to the data feeds from the platforms. Artists care about that. The third point is it’s massively enhancing our service portfolio. This enables us to offer a bigger variety of deals for artists to allow them to choose what kind of service level they want. And then obviously, every intermediary takes fees. So this allows us to have a more sustainable business model, become more competitive and offer more competitive terms to our artists. And artists get the monies faster.
Another photo of Mohn.
Urban Zintel
How does integrating the frontline business and catalog help you achieve these goals?
What’s key on the recording side is marketing. What is new and increasingly important is understanding the [streaming] channels. You need expertise for each [digital service provider]. Spotify is really different from Apple. We’ve had a direct relationship with YouTube for the last eight months, and the results are phenomenal — not just from a topline perspective, which is the ultimate measure, but also in having access to data, providing improved service on marketing, trending and velocity to artists. If you look through the lens of marketing, frontline and catalog become more integrated because the skill that makes the difference is marketing and understanding the channel. Consumption is way more fragmented. Fans make their own choices. Music taste is the decisive factor.
What do you expect streaming growth to look like in the coming years?
Two trends are relevant: One is that the massive market growth for the future of streaming in Western markets will happen through price increases. The second is the majority of the volume growth will happen in the developing markets. The good news is that the market is still fundamentally growing — not at the same speed as in the past 10 years — but we still have a fundamentally attractive market.
We need to own distribution to fully understand the trends early on and to react faster, to market in more tailored ways. With lower growth, we need to be more precise in how we invest marketing dollars.
How would you describe your leadership style?
There is a German saying: “You always see each other twice in life.” The idea of this saying is you always have opportunities — from a power-play perspective, you’re in a better situation — but the more sustainable approach is to still treat everyone as partners. We are in it for the long run. This is, for me, a paradigm for how to act on a daily basis. I’m very grateful for the partnership we had [with ADA]. We tripled our revenue. We’ve learned a lot, and it was clear from the get-go that at some point in time we would leave. [Warner Music Group CEO] Robert [Kyncl] and I had very frank conversations about it.
The statuette, which was a gift from Coesfeld’s aunt, “represents ambition,” he says.
Urban Zintel
What opportunities do you see in the catalog market?
We have a well-oiled machine. We know how to assess catalog, pitch and discuss with artists and songwriters. Hartwig built a reputation. Artists and songwriters trust us. That’s a big opportunity from a positioning standpoint. Paired with a very committed parent company, which is willing to fund the further growth of this company, we see massive growth, and I remain very optimistic about the market fundamentals. There are a lot of things going on which may cause challenges — streaming economics, generative AI — but I see those as massive opportunities for the industry overall.
How have your previous executive roles at Bertelsmann shaped you, and how will they shape BMG?
This is my first CEO role. Now, I can’t blame the CEO any longer! I’m a firm believer from my own experience that the way you treat people, the way you interact in all types of relationships, is critically important to firm longevity and business success. If you take that and apply it to BMG, it’s even more important because our clients are a diverse set of characters. That’s why they have fans. They are not normal. They are not average. They are different. They are beyond that. Treating people with respect is critically important, and that sets Bertelsmann apart from other companies.
And in my CFO role, I had the privilege of being responsible for a catalog acquisition strategy. That helped me a lot in getting to know so many artists over the last two to three years. That introduced me quite well to this industry. Not having been around for decades in the music business was a challenge and, at times, still is.
A keyring that Coesfeld bought in New York when he was 12 and has carried with him since.
Urban Zintel
What is BMG’s view of the ongoing experiments with artist-centric and user-centric streaming payment models?
We are not the market maker there, which is important to understand our views. Overall, I welcome that we are having this discussion as an industry. What is on the table is a great step in the right direction. We are about to establish mechanisms to fight fraud, money laundering, things like that. Even more importantly, in light of gen AI, it is so easy to create music and to have artificial consumption of music.
How do you see this as a tool to address your concerns around generative AI?
If you don’t have mechanisms that make a distinction between human artistry and white noise, then something is wrong about the system. The streaming economics were designed 12 years ago. They are just not the appropriate models any longer. One thing I’d love to see more pronounced is trust in consumer choices — so a distinction between the superfan who is listening to just one artist and the more infrequent listener who is also paying $11 a month but listening to 50 streams a month.
What are the pitfalls and opportunities of generative AI?
I do see a fundamental threat to the ‘copyright-ability’ of human creativity. If regulators do not hold up, we will have a big issue. What keeps me optimistic is that fans don’t just care about the musical expression. It’s about the personality, the artist — especially for superfans.
Music-licensing company Epidemic Sound has signed Grammy-nominated singer-songwriter Jordin Sparks, the company tells Billboard. Under the deal, Sparks will collaborate with Epidemic’s in-house team — including musicians, producers and A&Rs — to create a collection of “classic Christmas songs” to be released later this year, with Epidemic distributing. The tracks will be made available to Epidemic’s global community of content creators along with being released to all streaming platforms.
“We are thrilled to announce this partnership with Jordin Sparks. Jordin is an extraordinary superstar who has significantly impacted the music industry,” said John Cleary, Epidemic’s director of music recruitment & music U.S., in a statement. “Creators, filmmakers, marketers, and storytellers know the power of music in telling a compelling story, and they seek amazing music to elevate their content. By collaborating with Jordin, Epidemic Sound can continue catering to content creators’ needs while simultaneously amplifying her artistry globally and unveiling her tracks to our global ecosystem of creators and international fanbase.”
Sparks rose to fame after winning season 6 of American Idol and has since released three Billboard Hot 100 top 10 singles including “No Air” with Chris Brown, “Tattoo” and “Battlefield.” According to a press release, she’ has’s sold more than 10 million tracks in the United States alone. In 2014, Sparks won a BMI Pop Award in 2014 for co-writing Ariana Grande and Mac Miller‘s hit single, “The Way.”
“I’m excited for this new partnership with Epidemic Sound,” said Sparks in her own statement. “They have empowered artists to thrive commercially, creatively and to reach new audiences. The freedom they give artists to choose their own path and work on different projects at the same time is unique and inspiring. I’m excited to join a roster of incredible artists and I’m looking forward to working with Epidemic Sound’s team!”
Epidemic Sounds’ remuneration model offers upfront payments, a 50-50 royalty split from streaming revenue and a quarterly soundtrack bonus. The company allows artists to work under non-exclusive agreements.
Bryce Leatherwood, winner of season 22 of NBC’s The Voice, signed with Universal Music Group Nashville in alliance with Republic Records. His label debut, “The Finger,” releases Oct. 27. Leatherwood is also signed with Morris Higham Management, CAA, Sony Music Publishing and O’Neil Hagaman. – Jessica Nicholson
Canadian singer-songwriter ThxSoMch signed with UTA for global representation in all areas. His track “Spit in My Face!” has been certified platinum by the RIAA, broke into the Billboard Hot 100 and hit No. 9 on Billboard‘s Hot Rock & Alternative Songs chart. His most recent singles include “Caroline,” “Hate” and “Crumbled,” while his debut EP, Sleez, was released May 19. ThxSoMch is signed to Elektra Records.
Berlin-based composer-producer Ben Böhmer signed to Ninja Tune, which just released his new single, “One Last Call” featuring Felix Raphael.
Swedish singer-songwriter Winona Oak signed to Nettwerk, which released her new single, “With Or Without You,” on Oct. 20. Oak is signed to The Very Good and PostOak LA for management, with booking by CAA in the United States and Wasserman in Europe.
Nettwerk also signed Toronto-based bedroom pop artist Peach Luffe (born Jong Lee). The classically-trained violinist released his latest single on the label, “Say It Back,” on Oct. 20. He’s managed by Michael MadConald at Lonely Beach and was previously signed to Lonely Beach Club; he’s slated to play next year’s South by Southwest.
Lastly at Nettwerk, the label signed Chicago-based singer-songwriter Wic Whitney. His first release under the label, “Ooolong,” marks the first single from his forthcoming EP, Afternoon Tea, which is slated to drop on Jan. 12. Whitney is managed by Colby Carlson.
Night Tales signed with Empire Dance and will drop a crossover single, “Work It Out” featuring Champion DI, on Friday (Oct. 27). The group is managed by the team at Prime Artists, including leaders Harrison Bamel, Adam Lynn and Zach Ruben, with booking by Hunter Williams and Jenna Adler at CAA. Night Tales was previously signed to Sony Music’s Ultra Records.
Easier Said, a recently-formed dance and rhythmic label founded by A&R exec Dominique Keegan, signed Party Pupils and will release the group’s new song, “Girlfriend” featuring MAX, bbno$ and MILLI. The label is an imprint of Firebird Music and has also released music by artists including Ian Asher, NALA, Roland Clark, Riva Starr and Maya Jane Coles.
Chicago-based indie band Brigitte Calls Me Baby signed to ATO Records, which will release its debut EP, This House Is Made of Corners, on Nov. 3. The group is managed by Phil Costello at Red Light; booking is handled by Jackie Nalpant and Kiely Mosiman at Wasserman in the United States and David Exley at Wasserman in the United Kingdom and European Union.
Global distribution and artist and label services company The Orchard recently expanded its operations in Africa and, as part of that move, signed a global distribution deal with Ghanian duo R2Bees.
Massachusetts-based rapper Millyz partnered with Create Music Group, which put out his new singles, “Passion” and “Soul Bleed” featuring DeeBaby. Millyz is managed by Ceize Gemini, Bryce Raines and Jeremy Karelis, with booking handled by Ashley Ventura at MAC Agency. His previous distributor was Perfect Time Music Group.
Singer-songwriter Fancy Hagood (“Blue Dream Baby” featuring Kacey Musgraves) signed with UTA for global representation in all areas.
New York-based singer-songwriter Odetta Hartman signed to Transgressive Records, which will release her second studio album, Swansongs, on March 22. The first single from the set, “Dr. No,” was released Oct. 17.
Australia-based singer-songwriter Kirin J Callinan signed with [PIAS] via his record label, Worse Records, for the release of his fourth album, If I Could Sing.
Indie rock band Brother Elsey signed to Nashville-based independent label River House Artists. The group’s inaugural releases on the label are the tracks “Passing Through” and “Babylon.” The group, which is currently on a U.S. tour through November, is managed by Jay Emmons and Jerrod Wilkins, with Grace Stern and Jay Williams at WME handling booking.
Singer-songwriter Dan Smalley signed with ONErpm Nashville, which will release a series of singles leading up to his next full-length album, The State of Country Music, next year.
South Korean pianist Yunchan Lim signed with Decca Classics. Last year, the 18-year-old became the youngest-ever winner of the Vin Cliburn International Piano Competition in Texas. He will soon make his debut at Carnegie Hall and is also slated to perform with the Boston Symphony Orchestra, Orchestre de Paris alongside and Royal Philharmonic Orchestra. He’ll release his debut album with Decca in spring 2024. Lim is represented by Nicholas Mathias and Federico M. Benigni at IMG Artists and in Korea by Sam Lee at MOC Production.
Wishy, a new band formed by Indiana songwriters Kevin Krauter and Nina Pitchkites, signed to Winspear, which will release the duo’s debut EP, Paradise, on Dec. 15. The single “Donut” is out now.
Belarusian violinist Yevgeny Kutick signed with Epstein Fox Performances for North American and general management.
Black River Records signed Scotty Hasting to its roster. Hasting’s label debut single, “How Do You Choose,” will release Nov. 3. – Jessica Nicholson
UBS partnered with Billboard to help increase awareness about the financial resources available to all entertainers. In the third of four episodes, Wale Ogunleye sat down with Billboard to share his experience managing personal finances throughout his NFL career and ultimately transitioning to his role at UBS today.
Shares of K-pop companies sank this week following news that a member of K-pop ground EXO is leaving SM Entertainment for a different agency. According to reports, D.O. will leave SM Entertainment for a new agency being established by his longtime manager. D.O.’s contract expires in early November, SM Entertainment said in a statement, and the artist “will continue with his EXO activities with SM” but pursue acting and other activities through the new agency.
SM Entertainment shares fell 9% to 113,400 won ($83.93). Shares of YG Entertainment, home of girl group BLACKPINK, dropped 9.3% to 53,700 won ($39.74). Shares of JYP Entertainment, home of Stray Kids and Twice, plummeted 11.1% to 100,900 won ($74.67). HYBE, home to BTS and Tomorrow X Together, fell 8.2% to 224,500 won ($166.15). Shares of Kakao Corp. dropped 9.6% to 39,050 won ($28.90). Kakao and its subsidiary Kakao Entertainment own 40% of SM Entertainment’s common stock. Earlier this year, Kakao Entertainment formed a North American joint venture with SM Entertainment.
With all K-pop stocks moving in synch, investors appear to be concerned that the established agencies could be threatened by upstarts. Because Korean companies have far smaller rosters than publicly traded Western music companies such as Universal Music Group, Warner Music Group and Believe, any one departure can have an outsized impact. When BTS announced it planned to go on hiatus, HYBE’s share price dropped nearly 25% the following day.
Separately, the chief investment officer of Kakao, Bae Jae-hyun, was charged with manipulating SM Entertainment’s stock price in connection with Kakao’s bidding war against HYBE over SM Entertainment in the first quarter of the year. According to Bloomberg, the executive was arrested Thursday for buying 240 billion won ($178 million) worth of SM Entertainment shares in an effort to disrupt HYBE’s tender offer.
Despite the week’s heavy losses, K-pop stocks are among the best performing music stocks in 2023. Through Friday, HYBE, SM Entertainment, YG Entertainment and JYP Entertainment have gained an average of 37.1% year to date. JYP Entertainment leads the four companies with a year-to-date improvement of 48.8%.
The 21-stock Billboard Global Music Index fell 3.1% to 1,313.44, lowering its year-to-date gain to 12.5%. It was the biggest one-week drop for the index since July and just the seventh time this year the index dropped by more than 3% in a week. Losses were widespread and only four of the 21 stocks posted gains.
Stocks generally had a miserable week. In the United States, the Nasdaq composite index fell 3.2% and the S&P 500 declined 2.4%. In the United Kingdom, the FTSE 100 dropped 2.6%. South Korea’s KOSPI composite index sank 3.3%. As the first wave of companies released third-quarter earnings this week, one of the standouts was Netflix. The streaming video giant gained 16.1% on Thursday after announcing it added 9 million subscribers in the quarter and will raise prices in the U.S., U.K. and France.
Anghami was the index’s greatest gainer for the second straight week after increasing 16.6% to $0.96. Last week, shares of the Abu Dhabi-based music streamer jumped 18% after the company received a written notification from the Nasdaq Stock Market on Oct. 12 regarding its closing share price falling below $1.00 for the previous 30 days. On Tuesday, Anghami issued a press release to reveal the Nasdaq Stock Market issued a written notification notifying the company it is not in compliance with the exchange’s requirement that listed companies maintain a minimum market value of $15 million. Anghami fell below the $15 million threshold from Aug. 29 to Oct. 10. Anghami has until April 8, 2024, to regain compliance.
Hipgnosis Songs Fund gained 4.9% to 0.775 GBP ($0.94) this week despite dropping 9.3% on Monday following news the company canceled a planned dividend payment. As the week progressed, the London Stock Exchange-listed company’s stock price steadily increased and was helped by the board of director’s announcement on Thursday of a strategic review to help calm investors’ nerves. After Monday’s decline, the share price rose 15.6% through Friday (Oct. 20) to reach its highest closing price since Oct. 3. At the company’s annual meeting on Oct. 26, shareholders will vote to approve a $440 million catalog sale intended to reduce the share price’s discount to Hipgnosis Songs Fund’s net asset value. Shareholders will also vote on a continuation resolution.
If it’s Friday that means another spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across the music industry.
WHY&HOW, the artist management company led by Bruce Kalmick, has promoted Halie Hampton Mosely to chief operating officer, Eddie Kloesel to executive vice president, and Chris Koegen to general manager and head of global strategy. Kloesel has been there from the jump, joining WHY&HOW’s founding team in 2020 as vp of touring and sponsorships. Prior to W&H, he was a manager at Triple 8. Hampton Mosely and Koegen both joined the agency in October 2021 — as vps of roster operations, and artist strategy and marketing, respectively. Hampton Mosely’s last job was at Hit Farm, where she served as day-to-day manager for Florida Georgia Line. Koegen’s previous posts include stints at Amazon Music and Big Machine. All three will continue to report to Kalmick, who calls them all “instrumental.”
“Not only have they helped shape our overall corporate strategy and ensured our artists’ success, but each of them are dedicated to fostering the professional development of our internal team to allow for continued success across all facets of our business,” said Kalmick. “I’m thrilled to have them step into these roles as we look towards the next phase of our company.”
Wait there’s more! The Austin-based company, which recently became part of the Red Light Management family, also elevated Evan Kaufman to senior vp of creative, a role that will see him continue to lead creative strategy across the roster — plus expand his role to include content ideation and creation.
The Orchard hired Lanre Masha to be its director of West Africa as the independent distributor angles to boost its presence on that side of the continent. In his new role, Masha will run regional support for Orchard artists and aid in signing new ones, as well as handle day-to-day release strategies and general distribution matters. Based in Lagos, he reports to evp and head of strategy Prashant Bahadur and works closely with vp of market development for Africa Ben Oldfield. Masha joins The Orchard from Trace Media, where in eight years he rose to GM for music and editorial. The Nigeria native also clocked time in Chicago in marketing and sales roles at Pepsico. “West Africa is no longer a young market,” Mash said. “We are leading the global expansion of music from the region, connecting artists with fans worldwide.”
All In the Family: Billboard parent Penske Media Corporation promoted George Grobar to president, overseeing the company’s operating units and business plans. The 14-year-veteran of PMC was previously chief operating officer and reports directly to founder and CEO Jay Penske. Prior to joining PMC, Grobar was senior vp of Disney Mobile, and before that put in 8 years at Unisys … and earlier this month PMC announced that former Complex and Paramount executive Celine Perrot-Johnson joined the company as executive vp of operations and finance. She oversees operations of PMC’s fashion, luxury, art and women’s interest brands, including the “bible of fashion” itself — Women’s Wear Daily. She reports to Grobar and is based in NYC.
Nashville-based management services company mtheory shared that industry veteran Erik Pettie is their svp and head of artist services and partnerships. Pettie and his team work with artists and their teams on providing label-like support from soup to nuts during a project cycle. His 15-year career was most recently highlighted by a two-year stint as head of artist strategy, editorial and marketing partnerships at Believe-owned Tunecore. Other career highlights include senior marketing roles at Cash Money, Republic, Motown and Universal Music Group. He is based in mtheory’s NYC office. “After years of dedication to supporting artists and labels, I’m eager to continue by shaping this division to help redefine campaign standards,” Pettie said. “This is an exciting new chapter, and I’m ready to make a positive impact!”
Mom+Pop promoted Whitney Dublin to senior director of digital marketing. During her tenure with the company, Dublin has led digital marketing campaigns for artists including FKJ, Del Water Gap, Orion Sun and Raffaella. Prior to joining Mom+Pop, Dublin worked as a product manager at the Orchard, as a digital marketing manager at RED, and a marketing coordinator/Hip-Hop/R&B social media strategist at Sony Legacy. Mom+Pop co-owner Thaddeus Rudd said Dublin’s “contributions to our artists’ success are noteworthy and her talent was obvious to us from the beginning.” –Jessica Nicholson
Donna Budica and George Karalexis officially launched Ten2 Media, a content distribution and marketing company focusing on music and monetization on YouTube. Ten2 Media works with clients on content strategies and then distributes, markets and monetizes that video content on YouTube. The company works with a growing roster of clients that includes Warner Music, Brent Faiyaz, French Montana, Diddy and NLE Choppa. “When we are able to maximize the artist’s revenue, we help create audience awareness and growth… because when artists succeed, so do we,” said Budica, a CAA veteran who is COO of the new firm. Karalexis, who is CEO, began his music career as a musician (his pre-YouTube band put out some spirited pop-punk in its day) before entering the management space and founding companies like FAUX Entertainment and WAVVE.
ICYMI: Utopia Music hired a new CEO after a rrrrough year … Round Table Management hired Steve Ford as head of artist development … Virgin Music Group shuffled its global leadership team … Rich Schaefer was named president of global touring at AEG Presents … and Millie Millgate is Music Australia’s first director.
BandLab Technologies, fresh off a “strategic collaboration” with UMG to engage responsibly with AI, added a trio of executives to its team. Joining BandLab as senior advisor of AI, innovation and strategy is Drew Silverstein, formerly the CEO of Ampler Music and vp of music at Shutterstock. Earlier this month, Kevin Breuner was hired at head of artist development and education, and Jessica Strassman as head of industry relations and artist services in the Americas. Breuner clocked 17 years at CD Baby, rising to svp of artist engagement and education, while Strassman joins from TikTok where she cofused on label partnerships.
Nashville-based music business management firm Farris, Self & Moore has promoted Stephanie Alderman to partner. Though the company will retain its current name of FSM, Alderman will be included in all leadership decisions and high-level initiatives. Alderman, a trained classical pianist and graduate of Belmont University, has more than 15 years of experience in business management, in addition to experience in artist management, publicity and tour production. “Stephanie Alderman is undeniably one of the best business managers in our business,” said founding partners Kella Farris, Stephanie Self, and Catherine Moore in a joint statement. “Her ability to relate and listen to her clients, create a financial strategy, and then execute it effortlessly is truly exceptional. Her all-in approach, innovation, and authenticity make her the perfect fit for our leadership team.” –JN
Digital marketing agency Creed Media hired Christian Birch-Jensen as its first-ever chief strategy officer. Birch-Jensen joins the Gen Z-centric company from TikTok, where he was part of the social media giant’s European strategy team. He reports to CEO Timothy Collins. Creed also promoted Alex Falck and Sanu Harharan from co-heads of music partnerships to co-heads of commercial partnerships — expanding their purview to cover tech, movies and TV. Additionally, Camilla Larsson was upped from head of entertainment operations to overall head of operations. Creed clients include the big three major labels, as well as Spotify and Live Nation.
Live events project management firm PRG hired Paige Newman as an account executive for its artist development team. While PRG is best known for large-scale projects, the firm is now increasingly offering their services — audio, lighting, rigging, video, etc. — to developing artists. Newman arrives after a three-year tenure at Image Engineering, a specialist in lasers and other live-events lighting.
Digital distributor ONErpm tapped Nathalia Vieira to manage its new synch department. Based in Los Angeles, Vieira and her team work on securing placements for ONErpm clients. Her previous roles include music licensing coordinator at Hit the Ground Running and as a creative music manager at Pusher. ONErpm’s other services include music distribution, marketing support, publishing, accounting and global payment systems.
Kevin Hart’s global entertainment company Hartbeat hired Janina Lundy as evp and head of marketing and brand strategy, and Adam Puchalsky as evp and global head of Pulse, the firm’s branded entertainment studio and marketing consultancy. Puchalsky will be based in New York City, while Lundy will operate from Los Angeles. “Janina’s exceptional talent for super-serving high-growth audiences and building entertainment brands, combined with Adam’s global storytelling expertise and deep commitment to brand partnerships will enrich our team and bring significant value to our team and partners,” said Hartbeat CEO Thai Randolph.
Last Week’s Turntable: H8WG Goes Wild in LA
