Business News
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Live Nation, Warner Music Group and Spotify helped lead a music stocks rebound this week as global markets recovered from a disastrous prior week.
The Billboard Global Music Index gained 3.2% to 1,800.75 to retake nearly two-thirds of the previous week’s losses. Last week, just three of the index’s 20 stocks were gainers. This week, 11 stocks finished in positive territory while nine lost value. The seven multi-sector companies — recorded music, publishing and agencies — had an average gain of 2.3%. Six streaming companies had an average gain of 2.6%.
Major indexes also posted gains after last week’s downturn. In the United States, the Nasdaq jumped 6.0% to 17,683.98 and the S&P 500 climbed 4.0% to 5,626.02. In the United Kingdom, the FTSE 100 rose 1.1% to 8,273.09. South Korea’s KOSPI composite index improved 1.2% to 2,575.41. China’s Shanghai Composite Index was an exception, dropping 2.2% to 2,704.09, its lowest close since Feb. 5, 2024.
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Concert promoter Live Nation jumped 6.5% to $98.82 on Friday, its best closing price since $101.40 on May 22. CEO Michael Rapino gave investors a convincing narrative about Live Nation’s past, present and future at the Goldman Sachs Communacopia & Technology Conference on Tuesday (Sept. 10). Speaking about the potential for growth outside of the U.S., Rapino talked about taking the model used in Austin, where it built the Moody Center (in partnership with Oak View Group) and is getting “25-plus-percent return on capital.”
While the U.S. is filled with arenas because of basketball’s popularity, soccer-dominant Europe and South America don’t have the same infrastructure, Rapino explained. Growing a presence in those areas means building the venues, which provides better profits than being a venue operator. And it can be done more affordably than the cost of many arenas in the U.S. “We’re not building a billion-dollar Chase Center [the home of the Golden State Warriors basketball team in San Francisco],” Rapino said. “We’re building a $300 million-$400 million music venue, and we can get a great return on capital and expand the market. So that’s our greatest opportunity.”
After SiriusXM merged with Liberty Media’s tracking stock, Liberty SiriusXM, the new stock — also trading under the SIRI ticket — finished closed at $24.51, down 10.2%, after taking into account a 1-for-10 stock split. SiriusXM initiated post-merger trading at $25.25 and rose 2.6% on Tuesday before reaching a high of $29.05 on Wednesday. The company said the merger of SiriusXM and Liberty SiriusXM stocks was done to simplify the capital structure and support the company’s future growth.
In its first press release following the merger with Liberty SiriusXM tracking stock, SiriusXM provided updated free cash flow guidance of $1 billion for 2024, a $200 million drop from the guidance provided on Aug. 1. The $200 million change reflects about $70 million of closing costs and incremental interest and about $130 million related to “historical, year-to-date outflows at Liberty SiriusXM Holdings Inc. prior to the closing of the transaction.” The company left unchanged its guidance for revenue ($8.75 billion) and adjusted earnings before interest, taxes, depreciation and amortization ($2.7 billion).
Spotify gained 4.7% to $338.01, erasing most of its 5.9% loss two weeks prior. On Thursday, Guggenheim increased its estimate for fourth quarter monthly average users and average revenue per user and raised its third quarter gross margin estimate. Analysts spoke with a publishing executive who had positive things to say about Spotify’s audiobook offering and its positive impact on the publishing business. Guggenheim maintained its “buy” rating and $420 price target.
Multi-sector companies performed especially well this week. Warner Music Group gained 5.1% to $29.02 after Tigress Financial cut its price target to $44 from $52 on Thursday but retained a “buy” rating on the stock. Reservoir Media rose 5.3% to $7.72. Universal Music Group improved 2.9% to 23.60 euros ($26.17). Most K-pop stocks rebounded after a rough week. Although HYBE lost 1.0%, YG Entertainment gained 4.9%,SM Entertainment improved 3.2% and JYP Entertainment rose 1.7%.
A trio of streaming companies were among the week’s worst performers. China’s Cloud Music fell 4.7% to 91.95 HKD ($11.79). China’s top music streamer, Tencent Music Entertainment, fell 6.7% to $9.52. Abu Dhabi-based Anghami dropped 7.8% to $0.83.
Despite having to pay more for everyday goods and services, Americans feel like they’re in a better place financially than earlier this year. How they choose to increase and cut back their spending, though, varies from music to vacations to groceries.
The data show consumers are generally in a good place. The latest numbers from University of Michigan’s survey of consumers released today (Sept. 13) show consumer sentiment is the best since May and 40% above its June 2022 low. Deloitte’s financial well-being index rose for the third straight month in August and has risen from 95.9 to 102.6 over the last year, which suggests that consumers are feeling good enough about their finances to increase spending on a range of products and services.
Listen to travel and leisure companies and you’ll get the impression that inflation-weary, cash-strapped consumers are holding close to their wallets. In August, Airbnb missed earnings and warned of slowing demand, while Booking.com told investors that it expected slower growth in the number of nights booked by customers. Disney’s theme parks are seeing softer demand. Comcast’s Universal theme park revenue fell 11% in the most recent quarter after having a record 2023.
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The concert business, though, doesn’t share the malaise of theme parks and vacation rentals. “We don’t see [a slowdown],” Live Nation CEO Michael Rapino said Tuesday (Sept. 10) at the Goldman Sachs Communacopia & Technology Conference in San Francisco. “And you almost hate saying it, because everyone else is saying it, but we do think we have a very unique product.” Live Nation, the world’s largest concert promoter and ticketing company, had a record second quarter with total revenue of $6 billion, up 7%, and expects 2024 will be a record year.
Concerts have the advantage of creating a more visceral reaction than other types of entertainment. And because it’s in-person and live, Rapino explained, it’s a unique experience with a competitive advantage. “[Fans] want to connect with that artist,” he said. “There’s no digital duplicate replication here. You cannot watch that show at home. You do not get goosebumps when you watch it on Apple TV.”
Live music isn’t totally immune to economic woes, of course. Numerous tours — including The Black Keys and Jennifer Lopez — have been cancelled due to poor ticket sales. Festivals ranging from Desert Daze in California to Beale Street Music Festival in Memphis pulled the plug in 2024 due to economic reasons. And as Billboard has documented in recent years, the financial strain of touring artists following the pandemic has been very real. Higher costs for transportation, fuel and food have forced artists to economize and cut back on expenses to turn a profit.
Fans are still spending dearly on a small number of superstars, though. Surge pricing used in the Oasis on-sale inflated the cost of primary tickets beyond many fans’ comfort zones. Sphere in Las Vegas has drawn high-spending fans to residencies by U2, Phish and Dead & Co., and The Eagles’ upcoming shows should do similarly well. Prices to Adele’s final residency performance at The Colosseum at Caesar’s Palace in Las Vegas before an indefinite hiatus soared beyond $17,000 for top-tier seats.
Consumers continue to spend on recorded music, too. According to the RIAA’s mid-year report, the parts of the business that involve direct consumer spending — subscriptions, physical formats and digital downloads — rose 4.7% in the first six months of 2024. Subscription revenue improved 5.1% and surpassed 60% of total recorded music revenue. Spending on physical music formats fared even better, rising 12.7% on the strength of a 17.0% increase in vinyl sales. Download spending, an increasingly inconsequential part of the business, fell 15.8%.
Segments that don’t represent consumer spending — ad-supported streaming, synchronization royalties and SoundExchange royalties — rose just 0.9%. Ad-supported on-demand streaming, the biggest component of the non-spending segment, rose just 1.7%. (SoundExchange royalties include ad-supported streaming in addition to satellite radio royalties, which stem from direct consumer spending, and cable radio stations, which do not.) Synchronization royalties — it reflects the money flowing into advertisements and TV and film production — dropped 9.8%.
Elsewhere in the entertainment business, spending is mixed. U.S. movie ticket sales were down to $3.6 billion from $4 billion, though the pop culture sensation of Barbie and Oppenheimer in the summer of 2023 made for a tough comparison. U.S. video game revenue is expected to rise about 2.2% to $47 billion in 2024, according to market research firm Newzoo.
While consumer are looking to splurge on entertainment, they’re much more price conscious about everyday items. According to the consulting company McKinsey, people are cutting back on spending on essentials — especially gasoline and fresh produce — as well as home improvement and domestic flights.
During a 1980 presidential debate, Ronald Reagan posed a now-famous question: “Are you better off than you were four years ago?” In 2024, many Americans feel they were better off in 2020 — even though the economy was crippled by the pandemic that year. The music industry is better off today than four years ago. And although recorded music growth has slowed this year, 2024 will be better than 2023, too.
Billboard Canada Women in Music was a star-studded celebration in Toronto last Saturday night (Sept. 7). Rising stars, Canadian legends — and some of their parents — were on hand to honour the myriad achievements of women on stage and behind the scenes in the first-ever edition of Billboard Women in Music in Canada featuring guest of honor Alanis Morissette.
Morissette received the Icon Award, honoring her as one of the country’s all-time greatest artists. Morissette celebrated femininity and emphasized its importance to people of all genders. “Matriarchy takes care of everybody,” she told the crowd, to a round of cheers.
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She was introduced by two Canadian stars — broadcaster George Stroumboulopoulos and Woman of the Year Charlotte Cardin, both of whom spoke to her massive influence.
Taking the stage to accept the award, Morissette — who has sold over 60 million records, with her breakthrough album Jagged Little Pill widely ranked as one of the best albums ever made — had her own thoughts to share on what it means to be an icon. She joked that even cereal boxes are called iconic these days. For her, though, an icon is someone who serves as a symbol of the safety to explore. Morissette reflected on how icons can inspire fans and listeners to probe the unconscious and to express themselves in new ways.
She also considered what it means to be a Canadian icon, enumerating some Canadian qualities that have helped her to succeed: curiosity and humility. Fame can be an isolating experience, Morissette shared — especially in the ‘90s, when there wasn’t a big girl-squad mindset, but fame has allowed her to also support and connect with people.
The night was filled with highlights, from Jessie Reyez dedicating her Trailblazer Award to her mother, who was in attendance, to performances from artists including Haviah & Omega Mighty, Tia Wood, Anjulie and more.
One of the most powerful moments came from Jully Black, known as Canada’s Queen of R&B, who took the Billboard Canada SiriusXM stage for a deeply impactful cover of Bob Marley’s classic “Redemption Song,” keeping the audience rapt for her 11-minute rendition.
In an elegant white and yellow gown, she commanded the stage, accompanied by a pianist and guitarist. She began with a moment of silence — no small feat, in a packed room full of industry honourees — reminding the crowd that though this was a celebration, many women around the world don’t get the opportunity to celebrate themselves.
“I stand here as my ancestors’ wildest dreams,” Black told the crowd, before leading a sing-along of “This Little Light of Mine,” bringing the crowd together as a community.
Adding a new lyric into Marley’s song about bondage and freedom, she asked a new question: “how long shall they kill our women?”
She descended into the audience to connect with fans and peers on the floor before returning back to the stage, and reflecting on her own beginning in the industry.”29 years ago I sang a hook called ‘What It Takes,’ by Choclair,” she remembered. “There was no infrastructure, there was no radio, for people, women, that looked like me,” she continued. “Women are paid less, if you don’t have a seat at the table build your own.”
She finished with heartfelt, hard-hitting vocalizations on Bob Marley’s refrain, closing out a performance that emphasized how far Canadian women in music have come, and how much there is left to do.
Watch the whole video here.
Selena Gomez, The Tragically Hip, Pharrell Williams Make Headlines at the Toronto International Film Festival
Some of the music industry’s biggest names have been descending on Toronto over the past week for the Toronto International Film Festival (TIFF).
The film festival has transformed downtown Toronto into a hub for celebrities, high fashion and red carpet glitz. It’s also brought many of music’s biggest stars to town, including Selena Gomez, Bruce Springsteen, Elton John, Pharrell Williams and more.
Selena Gomez came to Toronto for her new movie Emilia Pérez, a musical crime comedy that follows a Mexican cartel leader who comes out as a trans woman. Gomez plays the title character’s wife.
In an interview on the red carpet, Selena Gomez told Billboard Canada how her pop career actually worked against her for the role as she was learning the dance style of the film.
“I think it was really important that I let go of the pop star thing and kind of focus on more intricate dance that I’ve never really done before,” she said. “So it was really fun.”
Beloved Canadian rockers The Tragically Hip premiered a new four-part docuseries at TIFF, The Tragically Hip: No Dress Rehearsal. The series features new interviews and archival footage of the band, recounting their rise to stardom and the diagnosis of lead singer Gord Downie, who died in 2017 of brain cancer. Outside the screening, local choral collective Choir! Choir! Choir! led a massive sing-along of one of the band’s classic songs, “Ahead By A Century,” reminding attendees that love for The Hip runs deep.
The premiere of Pharrell Williams‘ LEGO-fied animated biopic Piece By Piece on Tuesday night (Sept. 10) was interrupted by an animal rights protester who stormed the stage during a Q&A session waving a sign that read: “Pharrell stop supporting killing animals for fashion” and shouting “Pharrell stop torturing animals!” Pharrell Williams is the creative director of the Louis Vuitton men’s collection.
Rather than move past it, Williams addressed the protester directly and said “You know what? You’re right.” He continued on that it wasn’t the right way to make her point, but that she did have a point. “…We’re actually working on that. And if she would have just asked me, I would have told her. But instead she wanted to repeat herself.”
Elton John was at the festival with his Canadian husband David Furnish, as was Bruce Springsteen and musician K’naan, who made his feature directorial debut. Check out more of TIFF’s top music moments here. – Rosie Long Decter
Hailey Benedict Signs to Big Loud Records
Rising country artist Hailey Benedict is making some big moves, as she inks a deal with Nashville’s Big Loud Records.
The Alberta singer announced the signing at Billboard Canada Women in Music celebration on Saturday, September 7.
Taking the stage in a sparkling silver fit, Benedict revealed that she’s signed with Big Loud and its Canadian-based imprint Local Hay, helmed by country star Dallas Smith. She followed up the announcement with a performance of her upcoming single “Things My Mama Says,” set to be her first release on Local Hay on October 4.
Benedict has been building to this moment since she was a kid — she first rose to national attention at the age of 14, when Keith Urban invited her on stage at a sold-out show in 2016 to perform an original song.
Since then, she’s released successful singles like 2021’s “Wanted You To,” built up an online fan base including 250K TikTok followers, and performed at major events like the Country Music Alberta Awards. In 2023, she won the SiriusXM Top of the Country competition and she’s heading into this fall’s Canadian Country Music Awards with a nomination for Breakthrough Artist.
All of that makes the timing right for Benedict to shift from an independent artist to working with a label that knows how to navigate the country landscape.
“I’m ecstatic to begin this new chapter with such an incredibly creative and dedicated team that shares my vision for my songwriting, artistry and career,” Benedict said in a statement. “After a decade as an independent artist, it was crucial for me to partner with a record label that aligns with my values and passion for music.”
Welcome to a jacked edition of Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music. While you’re catching up on a busy week of moves-and-shakes, check out Billboard’s fresh list of top R&B and Hip-Hop executives leading the genres forward, plus our weekly interview series spotlighting a single executive, our helpful calendar of notable events across the biz, and a regularly updated gallery honoring many of the industry figures we’ve lost throughout the year.
Industry veteran Jamie Younger joined The Core Records as the Nashville-based label’s new vp of artist development, effective immediately. Younger is coming off a 12-year tenure at Warner Music Nashville, where she created marketing strategies to help boost the careers of Bailey Zimmerman, Gabby Barrett, Zac Brown Band and Ashley McBryde, among others. “Younger’s ability to navigate the evolving music landscape has consistently resulted in history-making projects,” said Core co-founders Chief Zaruk and Simon Tikhman. “We are excited to have such a visionary joining our team.” Prior to WMN, Younger held roles at Thirty Tigers and American Songwriter. Younger has also served on the Recording Academy Nashville Chapter’s MusiCares Fundraising Committee and has mentored through GrammyU.
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Warner Chappell Music made key updates to its European A&R team with two promotions in the Nordics and a major appointment in Germany. In the Nordics, Marion Skogseth has been promoted to A&R manager, while Leslie Tay steps into the role of senior A&R manager. Meanwhile, in Germany, Jost Kaiser has rejoined the company as head of A&R dance. Skogseth will report to Petter Walther Walthinsen, the head of A&R in Norway, and Tay will beeline to Lars Karlsson, managing director of WCM Scandinavia. Kaiser will report to Natascha Augustin, the MD of WCM Germany, and Shani Gonzales, head of international A&R. Tay, based in Sweden, joined WCM in 2022 and has played a crucial role in signing top talent like Bolaget and MONZA. Skogseth, based in Norway, has been with the WCM A&R team since 2021 (after interning a year), helping to secure deals with artists like Moyka and SKAAR. Berliner Kaiser previously worked with WCM from 2020 to 2022 and now returns — following a sojourn at Stefan Dabruck Management as senior creative & repertoire manager — to strengthen the dance music division. WCM’s co-chairs, Guy Moot and Carianne Marshall, had nothing but good things to say: “Marion and Leslie are brilliant members of the team, and we are really happy to have Jost returning to us. We’re delighted to be strengthening our A&R teams in such an exciting time for music across Europe and for us as a company at Warner Chappell Music.”
The Mechanical Licensing Collective unveiled significant leadership changes to bolster its outreach, education, member services and internal operations. Ellen Truley was elevated to chief marketing and external affairs officer, overseeing the org’s advertising, marketing and communications efforts, while also coordinating its educational activities, industry partnerships, government relations and all other external affairs. Lindsey Major is now chief member experience officer, responsible for designing, implementing and coordinating the MLC’s suite of tools that help members to register works, claim their shares of previously registered works, submit proposed matches of their works to unmatched usage and more. Andrew Mitchell‘s new title at the MLC is chief analytics and automation officer, a role that will see him continue leading the org’s matching efforts as well as designing strategies to harness MLC’s data and bolster fraud prevention. Joya Carmichael, who has led every royalty distribution since the first one in April 2021, has been elevated to chief administration officer. She’ll continue leading the team while also managing other key internal processes. Finally, Rick Marshall can add general counsel to his business cards. In this new role, Marshall will lead The MLC’s in-house legal team and coordinate all of the organization’s legal matters, including its interactions with the U.S. Copyright Office. Since its inception, the MLC has distributed over $2 billion in royalties to its 45,000 members, achieving a 90% match rate for royalties processed.
High Rise PR welcomed Lily Golightly to the crew. Golightly was most recently senior vp of publicity at Universal’s Verve Label Group, where she crafted press campaigns and worked closely with Jon Batiste, Samara Joy and other artists across VLG’s storied labels (including Decca, Impulse! And Deutsche Grammophon). Prior to Verve, she spent seven years at 300 Entertainment, handling campaigns for Megan Thee Stallion, Young Thug and Gunna. She also founded No Big Deal PR, where she developed emerging talent, and earlier in her career was head of press at Wind-up Records. High Rise PR’s roster includes major acts like Billie Eilish, Finneas, Cage The Elephant, Duran Duran, Travis Scott, Bryan Ferry, Pat Benatar & Neil Giraldo, Tove Lo and Yungblud. “I have admired Lily’s work for close to a decade now,” remarked High Rise founder Alexandra Baker. “She’s thoughtful, strategic, and is highly respected in our field. Her experience in, knowledge of, and relationships in pop, rock, indie and rap are next to none, as is her understanding and passion within the business and corporate world.”
The Recording Academy appointed Taymoor Marmarchi as executive director for the Middle East and North Africa (MENA). Marmarchi will spearhead efforts to broaden the Academy’s presence and its support of music creators across the region. He will work to forge strategic partnerships and oversee event and content production and talent relations, and implement long-term strategies to advance the Academy’s global mission expansion. In June, the Academy announced its plans to extend its efforts to support music creators on an international scale. Prior to joining the Academy, Marmarchi amassed more than 25 years of experience across music, film, television, live events, content production, communications, marketing, government relations and national projects. He launched his career as executive director of Quincy Jones’ Global Gumbo Group in Dubai. –Paul Grein
Universal Music Sweden selected Mattias Caliste to lead the newly launched Def Jam Recordings Sweden. The label’s opening roster includes Asme x Sarettii, Sebastian Stakset and Zikai. His team will include Hamid Jamshidi and Hermon Alemseghed, plus UMG’s regional and global network. Caliste is a former member of Swedish hip-hop group Fjärde Världen (Fourth World) and was most recently in charge of Virgin Music Sweden, where he worked with artists including 23 and Asme. “Def Jam raised me!” Caliste said. “I grew up on artists like Public Enemy, EPMD, LL Cool J, Redman & Method Man, Warren G and many others who all released some of their most outstanding albums under Def Jam. The label has a legacy that is incredibly important for hip hop as both a genre and a subculture.” The label said to stay tuned for announcements on new signings and other projects.
Josh Deane, Shannon Corsi and Josh Tangney are the newest members of the Position Music A&R team. They’ll support Position Music’s existing roster while expanding it with new talent. Deane boasts a decade of label A&R experience, dating back to his A&R coordinator days at Atlantic before putting in four years as director — and then senior director — at Interscope. Prior to joining Position earlier this year he served as vp of A&R at Live Nation. Corsi, meanwhile, spent the past five years building up Facet, the Warner Chappell-backed publishing company of hit songwriter Justin Tranter, where she oversaw a roster including Skyler Stonestreet and Russ Chell. Tangney’s bonafides include a lengthy stretch as day-to-day manager of Andy Grammar while at Small Giant Management + Records. He is also credited with helping grow Rachel Platten’s career and is a CMT and CCMA-nominated songwriter who has collaborated with numerous Grammy Award-winning artists. Deane, Corsi and Tangney will all report to Position Music’s partner and head of A&R Mark Chipello, who described the trio as “talented and dynamic creative executives who will play significant roles in our next phase of growth.”
Audoo, a music tech company that provides data allowing artists, songwriters and PROs to see in real-time where their music is played, appointed three senior music executives as board advisors: Steve Clark, COO of Round Hill Music; Isabel Garvey, COO of Warner Music UK; and Sean O’Malley, CEO and founder of Regard Music. They join existing advisors Cliff Fluet and Alistair Macdonald to provide strategic guidance alongside music executives Chris Herbert and chair Nigel Elderton. Clark’s experience at Round Hill Music brings valuable expertise in copyright and royalties. Garvey, known for her leadership in digital transformation, previously launched Europe’s first music tech incubator, Abbey Road Red. O’Malley, a co-founder of Global Music Rights alongside Irving Azoff and Randy Grimmett, has deep experience in royalty collection, distribution and publishing. “The combined experience of Steve, Isabel and Sean brings a powerful wealth of knowledge across labels, publishers, rightsholders and creators – to have such revered executives join our existing world-class group of board members and advisors demonstrates the strength of belief in the business as we continue to build and refine the Audoo offering,” said Audio founder and CEO Ryan Edwards.
The Royalty Network appointed Daniel Abowd as its new president and general counsel. In his role, Abowd will collaborate closely with chief executive Frank Liwall to uphold the company’s ethos of being an independent, culturally-focused publishing firm. He will also provide in-house legal counsel, ensuring the company navigates the complexities of today’s music publishing landscape. This is Abowd’s second go-round at The Royalty Network following an eight-year run beginning in 2013 that saw him rise to vp before leaving in 2021. In the ensuing years he clerked in federal courts and most recently practiced law as litigator at Quinn Emanuel. “Danny understands our company’s mission and the importance that plays in the protection, collection, and further utilization of our catalog, with the quality and care that we strive to achieve,” said Liwall. “He personifies the exact balance required to be President.”
Shane Tarleton, former Sony and Warner Music Nashville executive vp of artist development, joined Morris Higham Management, management home to artists including WMN artist Kenny Chesney and Sony Music’s Old Dominion. Though no title has yet been revealed, Tarleton’s role will include creative and content as management firms oversee more of these needs for their rosters. “It’s the Wild West out there and having Shane’s expertise both in management and label services is invaluable,” said Clint Higham, president of MHM. –Jessica Nicholson
BOARD SHORTS: The National Independent Talent Organization, which represents more than 150 independent U.S. management companies and booking agencies, announced its new board of directors. Former member Stormy Shepherd (Leave Home Booking) is back on the board and is joined by newly elected members Amy Butterer (outer/most), David Gottlieb (Death Or Glory) and Maria Matias (Maria Matias Music). Returning for another two-year term are Tom Chauncey (Partisan Arts), Wayne Forte (Entourage Talent Associates), Jon Grau (This Is Management), Fielding Logan (Q Prime), Paul Lohr (New Frontier Touring) and Jack Randall (The Kurland Agency) … NPR elected four new member directors: Debbie Hiott (KUT News, Austin), Maria O’Mara (KUER, Salt Lake City), Tina Pamintuan (St. Louis Public Radio) and Shawn Turner (WKAR, East Lansing) will serve three-year terms.
Brilliant Corners Artist Management, the San Francisco-based agency representing acts like Death Cab for Cutie, The Postal Service, Perfume Genius and more, is launching a new producer management division led by manager Nicole Ficenec. Ficenec, who previously worked at Chrysalis Music and THREEE before launching her own producer management business at NYC’s Electric Lady Studios, will head the division from Brilliant Corners’ newly opened Los Angeles office. Ficenec’s client roster includes Jonathan Rado (Foxygen, The Killers, Weyes Blood), Paul Butler (The Teskey Brothers, The Bees), Noah Georgeson (Devendra Banhart, Johanna Newsom) and Dave Cerminara (Father John Misty, Phosphorescent). Her division will also absorb existing BCAM creatives including Dan “The Automator” Nakamura (Gorillaz, Deltron 3030), Chaz Bear (Toro Y Moi) and Benjamin Gibbard (Death Cab for Cutie and The Postal Service).
The International Music Publishers Forum appointed Nicole Schulze as its first secretary general. This newly created role responds to the significant growth IMPF has experienced in recent years. Schulze, a seasoned public policy professional with nearly 20 years of experience, previously served as IP policy lead for Europe at Meta and has worked extensively within the creative industries. In her new position, Schulze will report directly to the president of IMPF’s board of directors, Annette Barrett, who emphasized the importance of this role in supporting IMPF’s expanding membership. Former IMPF advisor Ger Hatton will also join the Board as a Senior Advisor.
Apple Music‘s director of editorial operations & audio production Michael Bryan was promoted to global head of country music, where he will also be supporting Apple Music’s Christian and Gospel teams. Bryan joined Apple Music in 2020. He previously worked as a talent agent/artist development lead at CAA, and was iHeartMedia’s senior vp of programming from 2012-2016. –J.N.
The Oriel Company welcomed Grace Jones as vp and Kaeleah Isaac as manager to the PR agency’s growing team. Both will be based in the Los Angeles office. Since its founding three years ago by veteran music publicists Carleen Donovan, Chloë Walsh and Jen Appel, The Oriel has expanded with offices in New York, LA and Nashville, representing a wide range of clients across music, film, television, fashion, and more. Jones, originally from Australia, has two decades of experience in the music industry, most recently at Grandstand Media, handling PR for artists like Courtney Barnett, MUNA and others. Isaac joins from JONESWORKS, having worked on press campaigns for artists like Lainey Wilson and The Chainsmokers. The Oriel’s co-founders praised both new hires, noting Jones’ leadership and Isaac’s rising star status in the PR world.
Breakaway Music Festival, the annual multi-city event featuring a healthy dose of EDM, hip-hop and pop, hired former Sony vp of corporate development Adam Wright as CFO/managing partner and Gap alum Kay Brown as head of content. The festival also elevated Jarrod Fucci from GM to festival president. This year’s BMF tour has three more dates left: Sept. 27-28 in Charlotte, Oct. 11-12 in Nashville and Oct. 25-26 in San Francisco.
Amuse expanded its suite of services to include in-house sync for self-releasing and independent artists, appointing Daniel Copleston as head of synchronisation. The London-based exec was most recently head of synchronization at [PIAS], where he managed placements across TV, films, video games and ads. Prior to that, he held senior roles at Cooking Vinyl Records and Wipe Out Music Publishing. “The growth of our licensed catalog shows that people are resonating with these tracks, and our vast access to demographics and streaming data creates great synergies for sync opportunities,” said Sean Staranka, head of artist marketing. “Daniel’s experience and eagerness to spearhead our move into sync services will bring great value to Amuse’s roster.”
Outback Presents promoted Emily Scerri from director of touring to vp of entertainment strategy, where she will continue to expand the company’s special events and music initiatives. The Australia native began her career working in the box office for music festivals including CMC Rocks, and later assisted with operations/artist liaison for Bondi Beachfest and The Big Pineapple Music Festival, before relocating to Los Angeles and working roles at Dick Clark Productions and AEG Presents before joining Outback Presents. –J.N.
Select Management Group, a top management firm for next-gen digital creators, promoted Caroline Nardilla to partner. Nardilla joined the company in 2015 and has led its New York office since 2022, and will now expand her leadership across the firm while continuing to drive growth on the East Coast.
ICYMI:
Maximilian Kolb
BMG expats Dominique Casimir, Maximilian Kolb and Justus Haerder formed a new rights company called umn (pronounced “human”) … A newly combined Concord Records and Fantasy Records will be headed by co-presidents Margi Cheske and Mark Williams … and go on, meet the four women leading behind the scenes across the male artist-dominated world of regional Mexican music.
Last Week’s Turntable: Erika Savage Joins King, Holmes, Paterno & Soriano
The results of the Greater Nashville 2024 Music Census were disclosed today during a press conference in downtown Nashville with many creatives and industry members voicing concerns surrounding the cost of living, low pay rates, opportunities for younger artists, and gender and racial disparities.
The census was produced by Sound Music Cities and surveyed the Greater Nashville region, which includes the 14 counties in and around Nashville. The census, held from March 1 – April 1, drew 4,256 respondents, with music creatives making up 61% of respondents, industry members making up 31% and venue/presenters making up 7% of respondents. In terms of musical genres, 28% of respondents work in country music, with other genres including American Roots (16%), rock (12%), pop (8%) and alternative (5%). Respondents from other genres including gospel/contemporary Christian, rap and R&B were less than 5% per genre. Industry category respondents primarily work as agents/business services (20%), marketing (14%), production support (13%) and music publishing (10%).
Respondents in the creative category noted that their primary concerns are “cost of living” (48%), followed by “pay rates not increasing” (38%) and “lack of music work” (26%). Creative respondents also noted that they spend an average of $13,559 annually on music-related expenses for a total of $58 million, with 52% of that money being spent locally.
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The majority of respondents noted that they have never received financial assistance (76%) and are most eager for tax incentives/relief. The census also noted that Davidson County respondents also struggle more with rent or mortgage (30%) versus respondents from other counties (20%). Davidson County respondents are also less likely to own their own home (59%) than respondents from other counties (75%). Additionally, 83% of respondents indicated they were concerned with low pay, while 65% found lack of benefits such as health insurance and retirement a challenge.
The census noted a need for greater representation of Black, African-American, Hispanic and other minority groups in local and independent music scenes. The census’s results showed that Nashville’s music ecosystem is made of primarily white/European persons (85%), which is higher than this segment in Nashville Metropolitan Statistical Area’s general population (71%). Black, African and African-American representation is at 6%, lower than the Nashville MSA general population (14%). Hispanic representation in the Nashville music ecosystem is at 4%.
Men made up 61% of the Nashville music ecosystem across all census respondents, while women made up 37%. One percent of respondents preferred not to reveal their gender, while another one percent use a different term than male or female. Among industry members, women led at 55% of respondents, with men at 44%. The creative sector revealed the most stark disparity, with men at 71% and women at 26%.
The average household income for respondents is $93,000 annually, while respondents note that income direct from music-related work is, on average, $52,000 per year, per respondent.
Local performances and touring are the major sources of income for creative professionals at 27% and 20%, respectively. Recordings and studio work also offer supplemental income, with 27% of respondents earning some income from recordings and 25% from studio work. A little over a third of respondents noted they earn very little income from songwriting, while 23% reported that they earn some income from songwriting.
The nearly 300 venue/presenters respondents offered an average of 172 events per year, collectively offering over 26,000 annually. Most are live music venues (31%) or independent promoters (15%). Aid for independent venues was also identified as a key need, including increasing the number of local independent venues that book artists and providing financial/policy support for independent venues to purchase real estate (68% of live music venues rent their spaces) and avoid displacement due to rising property values, such as models used in Toronto and Sacramento.
In terms of efforts that would help creatives continue to stay in the Nashville area, 41% say that tax incentives/relief would be helpful, followed by 37% of respondents saying creative/music-friendly policies such as parking and loading zone policies would be helpful.
Also, work is needed to increase the pipeline for new talent and diverse genres. Increasing opportunities for talent ages 18-24, developing mentorship programs and platforms for younger artists, and increasing performance spaces/opportunities for various musical genres, as well as addressing gender imbalances within the independent music ecosystem, especially for creatives, and enhancing representation of Black, African-American, Hispanic and other minority groups in local and independent music scenes were all cited as much-needed solutions to attract new talent.
Among the other music-friendly cities in the Sound Music Cities cohort are Dallas, Chicago, Minneapolis, New Orleans and Chattanooga, Tenn.
For the full census results, visit greaternashvillemusiccensus.org.
As the electronic music world continues to grapple with how to get producers credit when their tracks are played by other, usually more famous, DJs, a new campaign is attempting to fix the issue on social media.
Launching today (Sept. 12) and backed by the Association For Electronic Music (AFEM), the Respect the Creators campaign is aiming to get lesser known DJs credit on social media by having DJs, promoters and other platforms.
The campaign offers simple instructions, asking DJs that when they “post a video of a gig or a mix and the music isn’t yours, tag the artists, and list the full names of the tracks in the most visible part of your post.” Online platforms are asked to “include track lists for all sets, visible directly below the video or audio,” while promoters are asked to credit the music featured in all their promotional materials for events when posting to Facebook, Instagram, Tiktok and other social media platforms.
The campaign advises that social media is crucial to music discovery, with the proper music attribution having the possibility of highlighting lesser known artists and helping them thrive. In a speech at the annual dance conference IMS Ibiza this past May, Dutch artist Frank Nitzinsky noted research that’s informed this campaign, which shows that on average, only 3% of a DJ’s set is music that they have produced themselves, while up to 90% of DJ performance content shared on Instagram does not credit the music being played in the video.
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In a statement, AFEM COO Finlay Johnson says that while the campaign “may seem like a straightforward initiative, encouraging people to share and credit new music addresses significant challenges in the discoverability of emerging artists. It also serves as a reminder for individuals to consider their metadata, which can directly enhance income through royalty collection. While white label and dubplate culture should be celebrated, the use of generic ‘original audio’ tags on social media does little to support artists. We encourage everyone to acknowledge and promote the team behind a record’s production and release.”
Respect the Creators is supported by AFEM, along with a number of organizations including Dutch collecting society Buma/Stemra, along with several venues and artists like Richie Hawtin.
“I thought supporting the community and the musicians who make the musical structure that our scene (and DJs) stand on was simply common decency (and sense),” Hawtin says in a statement. “So why do we see so many social media posts from DJs, promoters and festivals that completely fail to tag the music being played in the clips? It’s disrespectful and only takes further advantage of the musicians who are already struggling for recognition and a fair share of the economic pie of our ‘beautiful’ culture.”
The campaign follows the recent closure of Aslice, a platform with which DJs could donate a portion of their set fee to the artists whose music they played during the performance. The proper crediting and royalty payouts for artists in the electronic scene is a pernicious issue, as DJ sets are often made up of hundreds of songs by a wide variety of artists, many of whom never get credit for the use of their work.
Hawtin recently expressed his displeasure with the closure on social media, saying that “Aslice was working, and the only problem was that not enough DJs, especially the successful ones, agreed to sign up and share back into the music eco-system that they have built their careers on. Aslice did not fail, the famous, most followed DJ’s of our scene failed us all.”
Former BMG executives Dominique Casimir, Maximilian Kolb and Justus Haerder have formed a new rights company, umn — pronounced “human” — that will be based in Berlin. The new company today announced a forthcoming project from German pop star Max Giesinger, whose new album Menschen comes out Sept. 13. But the company will operate […]
The House Judiciary Committee has sent a letter to the Register of Copyrights, Shira Perlmutter, requesting an examination of “concerns” and “emerging issues” related to performing rights organizations (PROs).
In the letter, signed by the committee’s chairmen Rep. Jim Jordan and Rep. Darrell Issa as well as member Rep. Scott Fitzgerald, two particular areas of concern are addressed: the “proliferation” of new PROs and the lack of transparency about the distribution of general licensing revenue.
The letter, obtained by Billboard, notes the latter issue is of particular importance to independent artists and smaller publishers. “It is difficult to assess how efficiently PROs are distributing general licensing revenue based on publicly available data,” the letter reads. “For example, it is difficult to determine how accurately lesser known and independent artists as well as smaller publishers are being compensated compared to widely popular artists and major publishers.”
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Concerns around transparency at the PROs are not new. The National Music Publishers’ Association, the trade organization representing music publishers, has spoken publicly about it, as have a number of individual songwriters and publishers over the years. These concerns grew last year after BMI, one of the largest PROs in the country, switched its business model from non-profit to for-profit and was acquired by private equity firm New Mountain Capital.
At the end of BMI’s fiscal year 2022, Billboard reported that “for the first time ever, it hardly contains any financial information.”
“I believe that you have a fundamental right to know what it costs you to use a particular collection society now I will tell you that ASCAP gives you a pretty close look at what it costs not exactly, but they give you a pretty close ballpark,” said NMPA CEO and president David Israelite at an Association of Independent Music Publishers’ Meeting in February. “BMI at the end of the last fiscal year we didn’t get that information.”
The letter states that it “request[s] that the Office examine how the various PROs currently gather information from live music venues, music services, and other general licensees about public performance; the level of information currently provided by PROs to the public; whether any gaps or discrepancies occur in royalty distribution; what technological and business practices exist or could be developed to improve the current system; the extent to which the current distribution practices are the result of existing legal and regulatory constraints; and potential recommendations for policymakers.”
The “proliferation” of PROs is a newer concern. Around the world, most countries typically have one PRO for local writers and publishers to join. In the U.S., it works differently. For over a hundred years, ASCAP and BMI have been the primary choices for a songwriter or publisher looking to collect performance royalties in the United States, but there is also the option to go with SESAC instead, a smaller but still important player in the U.S. PRO landscape, which has been around for almost as long.
Since its founding in 2013, Global Music Rights (GMR), a for-profit PRO founded by industry veteran Irving Azoff, has become a heavyweight in the space as well. GMR business model is to focus on a smaller roster of only the top tier of songwriters and then charging a premium to the bars, venues, shops and theaters that wanted to play them. Because their roster includes major artists including Bruce Springsteen, Billie Eilish, Drake, and more, the GMR blanket license became immediately important for licensees to have, no matter the cost.
In 2017, a fifth U.S.-based PRO emerged. AllTrack was founded by media investor and former SESAC-board member Hayden Bower and is designed to focus on indie creators with a tech-forward approach. This year, AllTrack became the fourth U.S. PRO to be accepted by the International Confederation of Socities of Authors and Composers (CISAC), along with ASCAP, BMI and SESAC.
“Licensees [like bars, restaurants and small businesses] have reported receiving demands for royalties from new entities claiming to represent songwriters… Licensees are concerned that the proliferation of PROs represents an ever-present danger of infringement allegations and potential litigation risk from new and unknown sources,” the letter states.
“We request that the USCO examine the increased costs and burdens imposed on licensees for paying an ever-increasing number of PROs, factors that may be contributing to the proliferation of new PROs, and recommendations on how to improve clarity and certainty for licensees,” it continues.
Perlmutter and the Copyright Office cannot make any specific changes to the way PROs work today, but often letters like this are sent in hopes that it will draw attention to particular issues or become the predicate for a hearing or draft bill.
After 17 years in Ibiza, IMS is expanding to the Middle East.
The annual electronic music conference announced Thursday (Sept. 12) that it will host the debut edition of IMS Dubai on Nov. 14-15 at the W Dubai – Mina Seyahi.
The two-day event will feature MENA region-based speakers from YouTube, Warner Music Group, Anghami, Believe and more, along with artists and organizers of regional events including Morocco’s Oasis Festival, Dubai’s Soho Garden and Groove on the Grass, and Beirut’s Factory People.
Additionally, speakers from outside the Middle East will represent companies and brands including Tomorrowland, Defected Records, CAA, WME, He.She.They and the Association For Electronic Music.
An opening keynote will be delivered by Maha ElNabaw, managing editor of Billboard Arabia. Other speakers will include Aloki Batra, CEO of The Pacha Group and Five Hospitality; Janet Ashak, YouTube’s head of music in the region; and more. Artist participants include Iranian producer Deep Dish, and Saudi Arabian producer Cosmicat. As at the Ibiza event, IMS Dubai will be hosted by BBC Radio’s Pete Tong, who is also an IMS co-founder.
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The two-day conference will feature 13 panel discussions, with topics including navigating the music industry in the MENA region; a look at culture tourism focused on Ibiza and Dubai; MENA region investors; regional talent buyers; the growth of labels and streaming in the region; the underground scene in Dubai; a focus on the Egyptian market; MENA women in music; and more.
Passes for the event go on sale Sept. 19.
“For almost two decades, International Music Summit has united the global electronic music community annually in Ibiza to explore industry trends, innovations, and the challenges our diverse community faces,” the IMS founders said in a joint statement. “To make a global impact, IMS seeks to be where change is happening, which is why we’ve also hosted three editions of IMS Asia Pacific in Shanghai and one in Singapore, five IMS Engage events in Los Angeles, and three IMS College events in Malta. IMS Dubai will debut in the United Arab Emirates, marking a strategic expansion into the Middle East and North Africa.”
Organizers note that the conference “will not receive government or cultural funding or incentives for this initiative.” Digital download platform Beatport acquired a majority stake in IMS in 2023, with support for the event also coming from AlphaTheta, the owner of Pioneer DJ.
“Our goal is to inspire continued growth, support, and investment while addressing the unique cultural challenges musicians and start-ups face,” the statement continues. “Electronic music culture is built on long standing principles of bringing people together from diverse backgrounds on the dancefloor. Music has the power to unify and we all have a part to play in creating safer spaces for all; a principle that IMS and Beatport proudly stand behind.”
The MENA region is indeed a current buzzy growth market for electronic music and more. The 2024 IFPI Global Report found that total MENA revenue rose by 14.4% in 2023 following a 26.8% jump in 2022. According to IFPI, streaming revenue accounted for 98.4% of the region’s market over the last year.
On Saturday (Sept. 14), UFC CEO Dana White will pull off an impressive first in Las Vegas that he never really wanted to do — and has already vowed never to do again.
That day, White will host Noche UFC, a 10-bout celebration tailor-made for Mexican Independence Day (which is coming two days later, on Sept. 16) as the first sporting event inside the Sphere in Las Vegas, the $2 billion arena built by James Dolan that has so far hosted rock residencies by U2, Dead & Company and Phish.
While White has not been shy about plugging Noche UFC as one of the most visually stunning and technologically advanced events ever in combat sports, he’s repeatedly sworn in the media that it’s “a one-and-done,” recently telling MMA reporter John Morgan, “We’re not ever doing an event at the Sphere again.”
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That’s because, as White explains, the cost of doing an event at Sphere is so astronomically expensive — especially building video content for Sphere’s one-of-a-kind interactive video system — that it’s virtually impossible to make one’s money back through ticket sales alone, especially for one-time events.
“Think about U2,” who served as the Sphere’s first 40-show concert residency beginning in September 2023, White said on SNY Sports on Tuesday (Sept. 10). “Whatever that cost them, they had 40 nights to amortize those costs. We just have one.”
The budget for Noche UFC, originally forecast at $8 million, has exploded to more than $20 million due to production costs, sources tell Billboard. Making matters worse, ticket sales for Noche UFC appear to be in a death spiral, with fans balking at the event’s original $3,500 per ticket asking price and scalpers offering nearly as many tickets for resale as are still available on the primary market, often at steep discounts.
That $3,500 ticket price is also considerably more than the average $120 per ticket that the company charged for Noche UFC’s 2023 edition at Vegas’ T-Mobile Arena, an upcharge associated with Sphere’s huge production costs. Noche UFC is taking place at Sphere because executives with MGM Grand, one of the largest gaming companies in Las Vegas, reached a deal with boxing promoter Al Hayman for the date that UFC was supposed to have under a 2017 anchor tenant agreement at T-Mobile Arena which, White has said, “totally f–ed us.”
Until now, Sphere has hosted U2’s 40-date run; a four-night string of concerts by Phish; and Dead & Company’s 30-show residency that wrapped in July. For each, the bands created custom lighting and video productions designed specifically for Sphere’s groundbreaking display that would be effectively unusable at any other venue, meaning that the possibilities of Sphere being a stop on any artist’s regular tour routing would be essentially untenable.
UFC is also leaning into Sphere’s capabilities. Between bouts, the company will screen 90-second video vignettes, produced by outside partners like Valerie Bush and the production company Antigravity Academy. The videos, sources tell Billboard, are custom-built for Sphere’s massive high-definition screens and require expensive post-production work and computer rendering that only Sphere Company officials can handle.
Even the rehearsal hours for Noche UFC are difficult: White recently announced at a press conference that because Sphere airs a nightly film, he can’t get his team into the building to rehearse the show until 1 a.m.
All of which poses additional issues that make Sphere difficult, if not impossible, to accommodate most one-off events, particularly if production costs come with a $20 million price tag. UFC can recoup some of its financial outlay through pay-per-view sales, but it’s heavily relying on average ticket prices of $3,500 that fans aren’t buying, and a pay-per-view model, whether live-streamed or on television, is not straightforward for the music business.
Dolan, however, never marketed the facility as a one-time event host and it’s likely that some of the production costs associated with the Sphere will drop over time as the market for cloud computing recedes. Besides, Dolan hasn’t been shy about how his future ambitions will make Sphere more approachable.
The best way to reduce the costs of producing events for the Sphere, company officials said on a recent earnings call, is to build more Spheres. After losing out on a bid to a Sphere in London, Dolan reportedly has a half-dozen new locations in mind.