Business News
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Julie Adam was named executive vp/general manager at Universal Music Canada, where she will lead frontline operations, overseeing marketing, digital strategy, commercial affairs and brand partnership portfolios. Adam joins from Rogers Sports & Media, where she was most recently president of news & entertainment.
Alison Donald was promoted to head of global creative at Kobalt, where she will be based between London and Los Angeles. She previously oversaw A&R and creative in the U.K. and Europe for Kobalt Music Publishing as well as AWAL’s U.K. and Europe creative team prior to its sale.
Jennifer Blakeman joined Seeker Music as chief rights & royalties officer. She comes from boutique music publisher one77 Music, where she served as president/chief creative officer. In her new role, she will lead and oversee the expansion of Seeker’s rights management, administration and royalty platforms. Blakeman can be reached at blakeman@seekermusic.com.
Michael Allen was named vp of marketing strategy at Republic Records, where he will develop and execute campaigns for artists across pop and K-pop. The New York-based executive joined Republic in 2020 as a digital marketing consultant.
Gabe Fleet joined law firm Latham & Watkins as partner in the connectivity, privacy & information practice. Fleet, a prominent music licensing lawyer, joins from iHeartMedia, where he served as executive vp of business affairs and chief music licensing counsel. He anticipates being part of Latham’s New York office upon admission to the New York Bar; he is currently licensed to practice in Georgia and Alabama. He can be reached at Gabe.Fleet@lw.com.
Merlin announced several promotions. They include Ryan McWhinnie to vp of business and legal affairs, Shrina Patel to senior director of business and legal affairs, Chris Tarbet to senior director of commercial partnerships, Chaida Kapfunde to senior director of business and technology solutions, Pavan Vasdev to director of strategy & growth, Quentin Martins to senior manager of commercial partnerships and Grace Styles to senior finance assistant.
Big Machine Label Group promoted Courtney Daly, Bekah Digby and Marie Wapelhorst to director of streaming and Anna Scott Welch to manager of streaming. Sam Featherstone also joined the company as director of streaming; he was previously at Sony Music Entertainment, where he served as associate director of commercial partnerships. Daly can be reached at courtney.daly@bmlg.net, Digby can be reached at bekah.digby@bmlg.net, Featherstone can be reached at sam.featherstone@bmlg.net, Wapelhorst can be reached at marie.wapelhorst@bmlg.net and Scott Welch can be reached at annascott.welch@bmlg.net.
Red Street Records hired several new team members, including Brooklynn Gould-Bradbury as manager of publicity and communications, Dottie Chamberlain as executive assistant/operations manager and Riley Cooper as digital marketing coordinator. Gould-Bradbury joins from CMT and can be reached at brooklynn.g@redstreetrecords.com. Chamberlain joins from Universal Music Nashville, where she served as executive assistant to chairman/CEO Mike Dungan (for whom she worked for nearly three decades). She can be reached at Dottie.c@redstreetrecords.com. Cooper, who is coming off internships with companies including Sweet Talk Publicity and Triple 8 Management, can be reached at riley.c@redstreetrecords.com.
Universal Music Group senior vp of business and legal affairs Aaron Harrison was appointed to the SoundExchange board of directors; he replaces Sony Music’s Jeff Walker. Harrison also serves on the SoundExchange licensing committee.
Hannah Babitt, CEO/founder of Los Angeles-based boutique management company BABZ, announced the opening of BABZ Nashville. Babitt will oversee BABZ in both Los Angeles and Nashville, with Jacklyn Figueiredo and Eden Lytle based in Los Angeles.
Claudia Russo was named senior vp of corporate communications at UTA. She joins from Verizon Business Markets, where she served as head of communications. Beginning in the role immediately, she will relocate to Los Angeles from New York this summer.
Sweden-based label A-P Records rebranded to Overtone Studios and named producer/songwriter Rami Yacoub as director of music development, North America. Based in Los Angeles, he’ll help spearhead the company’s international expansion.
Adam Sachs was named senior vp of entertainment, comedy and podcasts programming at SiriusXM. The executive first joined the satellite broadcaster following its acquisition of Team Coco, where he served as president.
First Artists Management hired Zoe Hart as agent in its London office and promoted Hailey Flame to agent in Los Angeles. Hart, who joins from Faber Music, can be reached at ZHart@firstartistsmgmt.com. Flame can be reached at Hflame@firstartistsmgmt.com.
Nigel Elderton was named chairman at music technology company Audoo, which is focused on improving accuracy, transparency and reporting in public performance royalty data collection and payment distribution.
Radio personality Charlamagne Tha God, rapper Master P and Vicky Cornell, wife of late Soundgarden frontman Chris Cornell are among the first speakers lined up for the Hollywood & Mind Summit, taking place May 11 in Los Angeles at United Talent Agency (UTA).
The conference, which will focus on how the entertainment industry can elevate mental health, will also feature Christina Wootton, head of partnerships at Roblox; Carmela Wallace, mother of the late Jarad “Juice WRLD” Higgins and Grammy-nominated singer/songwriter Valerie June, as well as a number of mental health professionals.
The one-day summit, which takes place during Mental Health Awareness Month, will bring together executives and talent across television, film, music and digital with mental health experts for discussions on mental health storytelling, the power of song, and opportunities to elevate mental wellness through tech and gaming, among other topics.
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“The entertainment industry has unique and unrivaled influence to help stem our global mental health crisis,” said Cathy Applefeld Olson, veteran entertainment journalist and founder of Hollywood & Mind. “Our inaugural Summit will gather key stakeholders across Hollywood and the mental health sector to delve into essential conversations, share learnings and ask the next important questions.” (Olson is a Billboard contributor.)
Following the day-time summit, Hollywood & Mind will host an evening launch party at UTA, where attendees can network as well as experience activations including a Mindfulness Wall presented by Case Kenny, author and host of the podcast New Mindset, Who Dis?
In addition to UTA, other sponsors include Hallmark Media, Publicis Health, Milk & Honey Music + Sports + Ventures and MTV Entertainment Studios.
Adidas is still wrestling with how to dispose of 1.2 billion euros ($1.3 billion) worth of Yeezy shoes after its breakup with the rapper formerly known as Kanye West, forcing the German sportswear maker into a big loss at the end of last year and expectations of more pain ahead.
CEO Bjorn Gulden said selling the popular line of shoes would mean paying royalties to Ye, who was dropped by Adidas five months ago after making antisemitic remarks on social media and in interviews. During an earnings call Wednesday, he pointed to “many variables” about what to do with the shoes now stacked in warehouses.
Destroying them could “raise sustainability issues,” though some companies have offered recycling solutions, said Gulden, who was named CEO after the blowup over Ye’s remarks. Restitching them to hide the Yeezy brand so they could be sold “is not very honest, so it’s not an option,” he added.
Suggestions to give them away to those in need in places like earthquake-hit Syria or Turkey would mean the product would “come back again very quickly” due to its high market value, “so that’s not really an option,” Gulden said.
If Adidas does decide to sell the shoes, “I can promise you that the people that have been hurt by this will also get something good out of it and get donations and proceeds in different ways, shapes or forms,” the CEO said.
Adidas split with Ye in October, following other brands that were facing pressure to end ties with the rapper over his antisemitic and other offensive remarks. The company is now struggling to find ways to become profitable again and replace its banner Yeezy line, which analysts have said amounted to as much as 15% of its net income.
The Ye breakup cost 600 million euros in lost sales in the last three months of 2022, helping drive the company to a net loss of 513 million euros. The decline, also attributed to higher supply costs and slumping revenue in China, contrasts with profit of 213 million euros in the fourth quarter of 2021.
More losses could be ahead, with the company forecasting a 500 million-euro hit to profit earnings this year if it decides not to repurpose the remaining Yeezy products in stock. The company is predicting a 2023 operating loss of 700 million euros.
Gulden said “so many companies” were willing to buy the popular shoes but that would mean paying royalties to Ye. Rumors that the company was in talks to sell them, however, “are not true.”
He had heard from “gazillions of people that have opinions about this, and of course when you’re sitting on the inside, it looks a little bit different than it looks on the outside.”
Gulden also said Adidas is still investigating former employees’ allegations that Ye created a toxic work environment and that the sportswear company knew about his problematic behavior and failed to protect workers.
The CEO called 2023 “a transition year,” saying “we can then start to build a profitable business again in 2024.”
Last year, fourth-quarter net sales were up a bare 1.3% at 5.21 billion euros from the same quarter a year ago. The company pointed to revenue dropping 50% in China and higher costs for supplies and shipping, which could not be offset by price hikes.
For the full year, the Herzogenaurach, Germany-based company said it made a net profit of 638 million euros on sales that rose 6%, to 22.5 billion euros.
Adidas also further shook up its leadership by replacing its top sales and marketing executives. Global sales head Roland Auschel will leave the company after 33 years and be succeeded by Arthur Hoeld, now head of the Europe, Middle East and Africa region.
Brian Grevy, head of global brands, will step down March 31. CEO Gulden will take on his product and marketing responsibilities.
Snoop Dogg teamed up with U.K. tech entrepreneur Sam Jones on Shiller, a live broadcast platform set to launch in April that will offer content creators a suite of tools to monetize their content, including the ability to token-gate their video and audio, share products from commerce sites and promote NFTs. According to a press release, the app “combines best of web3 technology with live, interactive video and audio streaming, to provide a one-stop-shop for creators, including NFT projects, artists, brands, and key opinion leaders, to monetize their following and connect with their audiences.”
B2B streaming technology company Tuned Global acquired Swedish music technology company Pacemaker, which holds several patents for its AI-driven DJ applications. “Thanks to Pacemaker, Tuned Global extends its B2B streaming technology dominance by now offering enhanced AI tools that will hook and excite users as part of our white-label music apps, as well as in a standalone product for companies who aren’t yet our customers,” said Tuned Global MD/founder Con Raso in a statement. Pacemaker’s AI DJ is capable of weaving together tracks and other audio, while a “match machine “can help curators instantly dig up great tracks in a massive catalog and keep the groove going for workouts, therapeutic sessions, or other playlist-driven moments,” according to a press release.
DJ/producer Steve Aoki launched Audio Media Grading in partnership with Collector Archive Services. The new company will provide grading, preservation and authentication services for grading vinyl records, cassettes, CDs and 8-track.
Cutting Edge Media Music (CEMM), a division of Cutting Edge Group, formed a strategic venture with Village Roadshow Entertainment Group that will encompass all of Village Roadshow’s past and future music publishing assets, soundtrack album releases and music supervision services for film and TV. The venture will be overseen by Brian McNelis, who heads CEMM division Lakeshore Records, along with Lakeshore’s Eric Craig, who will provide music supervision and music department support across the Village Roadshow slate. Village Roadshow COO Louis Santor will take the lead in implementing all aspects of the deal.
B2B distributor FUGA expanded its global user-generated content and rights management offering by completely integrating rights management company Adrev. Both are owned by Downtown Music. The integration formalizes months of collaboration between FUGA and Adrev, according to a press release, which states that with the integration, “both FUGA and Adrev clients will now be provided with an extended service aimed at amplifying and simplifying UGC and premium video content monetization into one, seamless environment.”
BMG partnered with Stockholm-based artist management company Scandinavian Talent Management (STM), which also specializes in music supervision, music publishing and live events. “We are delighted with BMG’s trust and are confident that we can create many synergies with their global resources and networks,” said STM founder/MD Henrik Johansson in a statement. STM clients include Swedish rock-pop singer-songwriter and BMG artist Kristofer Greczula; British guitarist, songwriter and producer Chad Neale; and Mando Diao bassist Carl-Johan “CeeJay” Fogelklou.
Chordal partnered with AI developer AudioShake to launch Auto-Instrumental, described as an “on-demand instrumental solution” for music supervisors that’s designed to streamline synch placement. “Auto-Instrumental reduces the time of obtaining an instrumental from days or weeks (if it even exists!) to a matter of seconds, making it immediately possible to trial music to picture,” said Chordal co-founder Grayson Sanders in a statement.
Film and TV company Gunpowder & Sky signed a multi-year, multi-project development and production deal with Audible. Under the deal, Gunpowder & Sky will provide Audible with an exclusive first look at the studio’s slate of audio initiatives covering music, pop culture and more. In February, Audible released In the Cut with Ghetto Gastro, an eight-episode Audible Original podcast executive produced by Gunpowder & Sky. Two upcoming music-oriented podcasts from the companies — Lighters in the Sky and Shelved — “will reveal iconic, often undercover, music stories to the masses,” according to a press release. The first-look deal builds on an existing collaboration that has spawned multiple installments in Audible’s Words + Music franchise.
Opry Entertainment Group (OEG) has made a minority investment in country music lifestyle brand Whiskey Riff in an effort to draw a younger audience to its properties.
OEG, which counts the Grand Ole Opry, Ryman Auditorium, WSM Radio and the Blake Shelton-inspired Ole Red slate of restaurants/music venues among its portfolio, plans to use the alignment with Whiskey Riff to reach a younger demographic, attract new audiences to its brands, develop a stronger digital presence and further support emerging artists.
“They have created a really compelling brand, one that has built an incredibly loyal following,” says Mark Fioravanti, president and CEO of Ryman Hospitality Properties of Whiskey Riff. “They attract a younger demographic, and this gives us another way to connect our brands and the artists we support with younger fans.”
Fioravanti declined to comment on the specific percentage invested in Whiskey Riff or if OEG plans to increase its ownership stake in Whiskey Riff in the future.
Created by Steve Gazibara and Wes Langeler in 2015, Whiskey Riff has become a destination website for consumer country music news and content, as well as for outdoors and lifestyle content that resonates with the country music audience.
Across the Whiskey Riff brand umbrella as a whole, including Whiskey Riff social media accounts as well as @RIFFOutdoors, @WhiskeyRiffShop and @WhiskeyRiffRaff, the company says the sites have collectively drawn over 3.3 million social media followers. Over half of Whiskey Riff viewers are between the ages of 18-44.
Gazibara tells Billboard of launching Whiskey Riff, “I just thought, ‘If you are a college kid sitting in class, you don’t have a place to go to get a playlist, a podcast, a funny story, an outdoors thing, music stories and maybe a funny t-shirt if you want to get it for a concert.’”
“We share a certain segment of fans with Opry Entertainment, but we also have different fans in certain capacities,” Langeler adds. “The Opry does a great job of promoting rising artists that are independent and then they also bring on seasoned veterans, [Country Music] Hall of Fame members. I think we can really just help each other grow and continually bring new fans to each other.”
One element the Whiskey Riff co-founders insist won’t change is the site’s distinctive voice.
“The Opry knows we’re gonna have opinions,” Gazibara says. “They don’t have a say in the content, obviously, but of course you want to amplify their content that fits with our audience—and there is plenty of that from their end.”
Currently, OEG supports emerging artists in multiple ways, including Grand Ole Opry debut performances, as well as the “My Opry Debut” series, which runs on television network Circle, OEG’s joint venture with Gray Television. Additionally, new acts garner support through the Opry NextStage program, and performances at various Ole Red locations (Ole Red is set to add a Las Vegas location later this year).
OEG and Whiskey Riff are considering a range of collaborative options, including podcasts and cross-promotional retail/branding opportunities. “You might see some of their brand of products in our brick and mortar locations,” Fioravanti says. “We are just starting to have those discussions, but it’s an opportunity to collaborate with our retail capabilities.”
Gazibara and Langeler envision further amplifying Whiskey Riff’s lifestyle content, including food, hunting, fishing and other sports. Meanwhile, the Colorado-based Whiskey Riff will soon have a full-time Nashville presence; the site’s operations manager will relocate to Nashville, while the site’s Nashville-based assistant editor will move to a full-time role.
“They will have access to go backstage [at the Opry], talk to people, maybe get some fun, rapid-fire content before artists go onstage, or show the jam band-kind of thing that often happens backstage,” Langeler says. “We want to give fans an inside look at stuff they maybe wouldn’t have seen.
“The Opry is the greatest country music institution in the world,” Langeler adds. “I think we will be a machine going forward, pumping out content, giving fans that access and telling great stories. Country music is such a rich storytelling fabric and we will be able to help the Opry amplify that, and they will be able to help us to be able to tell these stories.”
As the world marks International Women’s Day 2023, a new study is illuminating the pervasive and ongoing barriers to gender equality in the music industry — and how to combat them.
Out Wednesday (March 8), 2023’s BE THE CHANGE: Gender Equality in the Music Industry study was conducted by Luminate, Tunecore and Believe. This study (available in full here) synthesizes the responses of more than 1,650 creators, industry professionals and executives from 109 countries and includes male, female and gender-expansive perspectives.
The globally distributed online survey considered respondents’ ethnicity, sexual orientation, disability status, parental status, location and age, among other factors.
Primary findings include that in the past year, 34% of women in the music industry had experienced sexual harassment or abuse, 60% of women and 62% of nonbinary individuals felt that discrimination based on age was a significant problem and 53% of respondents felt that cisgender men are paid more than others in the music industry.
The report also highlights a perception gap around these issues, stating that “the music industry has a clear disconnect in how we assume industry professionals and artists experience the industry and the reality.” The survey indicates that 60% of respondents believe gender discrimination is a major issue in the music industry. Women and nonbinary individuals are likelier to see gender discrimination as an issue as compared to men.
The report also found “alarming” rates of sexual harassment and abuse in the music industry, often against women and gender-expansive individuals. Many respondents reported that they did not find adequate resources for survivors or consequences for offenders. Thirty-four percent of women, 42% of trans individuals and 43% of nonbinary individuals who participated in the survey report being sexually harassed or abused at work.
The study also found that gender discrimination in the music industry is compounded by the discrimination of other marginalized groups, with inadequate representation and tokenism complicating women and gender expansive individuals’ experience in the industry. “Minority women, for example, are 114% more likely than average to feel that their hiring decision was, in part, based on their racial, ethnic, tribal background, or country of origin,” the report states.
The industry wage gap also remains a significant problem. Fifty-three percent of respondents agreed that cisgender men are paid more than others, while half of the surveyed women report “having their or another’s professional or career experience discredited, which impacts earning potential in the industry.”
These issues are also compounded by an ongoing lack of equal leadership, with 30% of women, 30% of underrepresented ethnic groups and 74% of transgender individuals reported being passed on for a promotion. Furthermore, 42% of women and 98% of trans people are said that they don’t have access to professional training/development opportunities.
Given these issues, it’s perhaps unsurprising that 76% of women, 82% of trans individuals and 89% of nonbinary individuals reported struggling with their mental health since entering the music industry.
The report also offers statistics on equality in streaming by determining the percentage of female and nonbinary artists represented in the top 50 artists by combined streams in multiple countries last year. South Korea ranked highest in equality, with 48% of the top 50 artist spaces occupied by female and nonbinary artists, while Colombia ranked lowest with just 10%. In the United States and Canada, 21% of the top 50 positions are occupied by women and nonbinary artists.
Beyond outlining the challenges, the report also suggests straightforward solutions. These include creating more transparent dialogues around pay within organizations, the creation of employee resource groups that help advance gender equality, the creation of diverse hiring committees, the creation and implementation of policies that protect survivors of sexual harassment and the removal of NDAs that often prohibit those that have experienced sexual harassment from speaking out.
Respondents reported that they believe executives, companies, major labels and artists are in the best position to create such changes.
“The good news is that BE THE CHANGE is now in its third year and we’ve seen the study’s impact,” TuneCore CEO Andreea Gleeson said in a statement. “It’s been quoted by the United Nations and widely discussed in creator and executive circles across the industry. But here’s the bad news – we need more change. We, as individuals and as an industry must heed the calls to action and do just that – take action. Small changes add up and if we each do something different each day, week, month, year, we will see a sea change in the industry. So let’s go!”
Chuck D, the leader and founder of Public Enemy, will receive NAMM’s inaugural Impact Music & Culture Award at the 2023 NAMM Show, which is being held April 13-15 in Anaheim, Calif.
The rapper will be on hand to accept the award, which will be presented at the TEC Experience on Thursday, April 13 from 6 p.m. – 7:30 p.m. PT. The award will be presented by Brian Hardgroove, Public Enemy’s bassist and bandleader and founder of Resonant Alien.
“TEC honors the pioneers, the innovators, those who have moved us forward, and the products and technologies which have advanced music-making,” TEC committee member Tony Baraz said in a statement. “As we celebrate the 50th anniversary of hip-hop, we recognize the impact that pioneers like Chuck D and others have had on music, music products, the music industry, and culture as a whole.”
Public Enemy was inducted into the Rock and Roll Hall of Fame in 2013 and received a Lifetime Achievement Award from the Recording Academy in 2020.
NAMM’s Impact & Culture Award was conceived by Hardgroove as an opportunity to recognize individuals who move culture through the power of music.
The recognition comes as part of The NAMM Show’s Hip-Hop@50 celebration, a curated slate of sessions and events throughout the conference. Also planned is a music video montage of the history of hip-hop from music/video mashup creator, producer, and director Mike Relm and a performance by Resonant Alien, the new band featuring Hardgroove and DJ Johnny Juice of Public Enemy.
Additional Hip-Hop@50 events planned during the 2023 NAMM Show include a Friday, April 14 session from 5-8 p.m.: “Chuck D on Hip-Hop at 50, Hosted by Brian Hardgroove,” presented by Black to the Future and showcasing an historical look at the American music and cultural phenomenon.
On Saturday, April 15 from 3-5 p.m., the Yamaha Grand Plaza stage will come alive with the MIDI@40 celebration showcasing a performance by Resonant Alien. The performance will recognize the impact that hip-hop and MIDI — as an underlying, enabling technology — have had in breaking down barriers. MIDI drum machines, sequencers, synths, and turntables are at the heart of many of the iconic records that made hip-hop the cultural phenomenon that it is today. Learn more about MIDI@40 and Hip-Hop@50 events here.
Additionally, awards will be given to TEC Experience finalists in 21 technical achievement and one studio design project categories. View the complete list of finalists here.
The NAMM TEC Experience is a communal reception that gathers the crossroads of the industry to applaud the achievements of the researchers and developers, product designers, marketers, and innovators behind the innovations in pro audio.
The TEC Experience, MIDI@40 and Hip-Hop@50 join the return of industry events, including the Parnelli Awards and the She Rocks Awards, as well as other event gatherings and networking opportunities, including the Top 100 Dealer, Pro Audio Pool Party, Women of NAMM and NAMM Young Professionals receptions, and more. View the schedule here.
Registration for the 2023 NAMM Show is now open here.
The American Society of Composers, Authors and Publishers on Wednesday (March 8) posted a 14% increase in collections to $1.522 billion while also reporting its fund available for distributions to songwriters and publishers grew 10.7% to $1.388 billion in 2022. In the prior year — 2021, when the economy was still impacted by the COVID pandemic — the performance rights organization disclosed revenues of $1.335 billion and distribution funds at $1.254 billion.
Moreover, the double-digit percentage increase for collection and distribution funds represents a significant bump from the pandemic-scarred 2021 when ASCAP posted a less than 1% increase in collections from 2020’s $1.327 billion and a 3.4% increase in distribution funds from $1.213 billion.
The PRO attributed its rebound and continued growth to its 2015-launched strategic growth plan, which focused on revenue growth, technological innovation and operational efficiency.
“It is our technical innovation coupled with an unparalleled work ethic that grew our domestic revenue 16.5% in 2022 and yielded a 6% compound annual growth rate since the inception of our strategic plan eight years ago,” ASCAP CEO Elizabeth Matthews said in a statement. Beyond that, ASCAP also noted the organization had achieved a 7% compound annual growth rate for total distributions to members over the same time period.
In an apparent reference toward ASCAP’s competitors — BMI, SESAC and GMR — Matthews continued her statement by noting it is “the only US PRO that operates on a not-for-profit basis which is a key differentiator among PROs. ASCAP creator and publisher members are the sole beneficiaries of this growth because we invested years ago in cloud computing, enabling us to address the challenges of digital streaming efficiently, and because we only pay songwriters and publishers, not private investors.”
Breaking out collections, ASCAP said its domestic receipts grew 16.5% to $1.178 billion from 2021’s $1.011 billion; while foreign receipts grew 6.3% to $344 million from the prior year’s total of $323.5 million. It attributed the discrepancy in growth rates to “challenges due to foreign currency exchange volatility.”
Moving over to funds available for distribution, ASCAP said domestic distribution funds totaled $1.048 billion — a 14.9% increase over the prior year’s total of $912.6 million, and further noted that it was the first time those funds had surpassed the $1 billion mark.
“We are elated to share these historic financial revenue and distribution results for 2022 with our songwriter, composer and publisher members, who are the foundation of the music we all love,” ASCAP chairman and president Paul Williams said in a statement. “In the US, we have competition, meaning that creators have a choice, and that choice should be ASCAP. It is in ASCAP’s DNA to ensure that we operate in the best interest of all our members. Our financial success for over 100 years, and a singular commitment to nurture their careers and maximize the value of their music, prove that our not-for-profit model of collective licensing works.”
Meanwhile, foreign revenue funds available for distribution totaled $340 million, or $1 million less than 2021’s total of $341 million. The latter total was larger than the $323 million reported for 2021 foreign receipts, and ASCAP attributed the unusual occurrence to “technological and distribution process efficiencies and timing.”
Finally, the organization said it delivered 90 cents on the dollar back to its members and affiliates, thus implying its expense structure costs 10% of revenue — and that’s down from 12.3% of collections in 2015 — the last time ASCAP publicly revealed detailed financials including a breakdown in its expense structure.
In its latest results, ASCAP said that it grew every major category of performance licensing, reporting general licensing revenue increased by 40%, radio by 32%, audio streaming by 16% and audio-visual by 7%, without breaking out the actual revenue numbers those income streams achieved in 2022 or 2021.
Silvio Pietroluongo has been promoted to executive vp of charts & data partnerships at Billboard, it was announced Tuesday (Mar. 7).
The New York-based Pietroluongo, who was previously senior vp of charts & data development, is a 30-year veteran of the brand who has led Billboard‘s chart operation since 2008. In his new role, he will recruit new data partners for chart inclusion while collaborating closely with various departments within Billboard and PMC to create content and further business initiatives for the Billboard brand domestically and across the globe.
“Silvio’s contributions to Billboard and its charts is undeniable. Throughout the years, Silvio has been an exceptional operational leader among us and someone whose passion, commitment, and relationships shapes our daily team culture,” said Billboard president Mike Van in a statement on Pietroluongo’s promotion. “We are beyond thrilled to be able to recognize him and honor his commitment to making the ‘Billboard Charts’ what they are today.”
Under Pietroluongo’s leadership, the Billboard charts have evolved to reflect the ever-evolving digital and social media age, optimizing the comprehensive data sets that accurately and definitively measure success in music. During his tenure, Billboard’s charts were the first globally to include audio and video streams to measure song and album consumption. More recently, Billboard launched the Billboard Global 200 and Billboard Excl. U.S. charts to measure worldwide song popularity as well as expanded its menu of international song ranking under the Hits of the World banner to over 40 territories.
Pietroluongo started his Billboard career as an intern and moved up the ranks from there, serving in various leadership roles including research supervisor. He was promoted to associate director of charts in 2006, director of charts in 2008, vp of charts & data development in 2014 and senior vp of charts & data development in 2018.
Paramount is exploring a potential sale of a majority stake in its BET business, which includes BET, VH1, and the BET+ streaming service, a source familiar with the matter tells The Hollywood Reporter.
The source cautioned that the discussions are still in the early stages, and there is no guarantee of any transaction taking place. They added that if a deal closes, Paramount expects to maintain a minority stake in the business, as well as a commercial relationship. Scott Mills serves as BET’s CEO.
BET is also unusual within Paramount’s portfolio in that some of its divisions have minority investors of their own. BET+, for example, counts Tyler Perry as an investor, while BET Studios counts Kenya Barris and Rashida Jones as stakeholders. Those deals would complicate any effort to merge BET+ or BET Studios into Paramount+ or one of the company’s other studios.
Such a deal, if it happens, would give Paramount cash as it continues to build out its main streaming offering, Paramount+, and as it reviews its holdings and figures out where things piece together in its strategy moving forward.
In January, the company announced plans to merge its Paramount+ and Showtime businesses.
Founded in 1980 by former cable lobbyist Robert Johnson and his wife Sheila Johnson, the BET channel was the first cable network to specifically cater to African American audiences. Paramount (then known as Viacom) acquired BET in 2000 for $2.3 billion.
While it is too early to say who potential buyers could be, given BET’s status in the African American community, high-net-worth Black individuals, or a Black-led company, would make some sense. A number of high-profile advertisers, including General Motors and Coca-Cola, have committed to significantly increase their ad spend on minority-owned media companies. While BET targets a minority audience, its Paramount ownership would not fit that bill.
The Wall Street Journal first reported the discussions.
This story originally appeared at THR.com.