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Boyd Muir, who serves as executive VP/CFO/president of operations at Universal Music Group (UMG), has been promoted to COO, the company announced Thursday (Oct. 31). Muir, who has been the company’s CFO since 2010, will hold the titles of both CFO and COO while UMG undergoes its search for a replacement. “Boyd’s done an outstanding […]
Strong subscription revenue, improved margins and successful new releases by Sabrina Carpenter, Chappell Roan and Post Malone helped Universal Music Group (UMG) post revenue of 2.87 billion euros ($3.16 billion) in the third quarter, up 4.3% year-over-year (4.9% at constant currency).
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached 621 million euros ($683 million), up 8.2% from the prior-year period. The Amsterdam-based company’s adjusted EBITDA margin improved to 21.6% from 21.1% in the prior-year quarter and was helped by cost savings from the organizational redesign announced in February and lower A&R and marketing costs, CFO Boyd Muir said during Thursday’s (Oct. 31) earnings call.
If not for a one-time gain in the prior-year quarter, the revenue growth rate would have been 7.6% and adjusted EBITDA growth would have improved to 10.8%. Last year, Universal Music Publishing Grou (UMPG) recognized the accrual of a catch-up payment from the Copyright Royalty Board (CRB) Phonorecords III ruling. That resulted in revenue of 53 million euros ($58 million) and added 11 million euros ($12 million) to UMPG’s adjusted EBITDA.
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UMG had a typically strong quarter of chart-topping new releases. CEO Lucian Grainge noted during the call that Carpenter’s album Short n’ Sweet, released on Aug. 23, went to No. 1 in 15 countries and topped the Billboard 200 albums chart in the U.S. for four non-consecutive weeks. Elsewhere, Roan’s The Rise and Fall of a Midwest Princess topped Billboard’s Album Sales Chart in September, while Malone’s latest album, F-1 Trillion, debuted at No. 1 on the Billboard 200 and also summited the Top Country Albums chart. Island also has a top 10 hit song in the U.K. with Gigi Perez’s “Sailor Song,” which peaked at No. 28 in the U.S.
The recorded music division improved 5.4% to 2.15 billion euros ($2.36 billion) on the strength of a 7.6% improvement in subscription revenue. Other streaming revenue, however, dropped 0.8% (up 0.3% at constant currency) to 354 million euros ($389 million). Physical sales dropped 2% to 288 million euros ($317 million) while licensing revenue jumped 20.4% to 325 million euros ($357 million). Subscription growth was negatively affected by “just over a percentage point” from “ongoing challenges” in the home fitness subscription market and the departure of the record label 10K Projects to Warner Music Group, said Muir. Lower CD sales in Japan were partially offset by strong vinyl sales, he added, especially in the U.S.
Muir affirmed UMG’s previously announced guidance of an 8% to 10% compound annual growth rate for recorded music subscription revenue through 2028. UMG may not always hit that target range in any given quarter, however, and Muir reminded listeners that the fourth quarter marks one year since a Spotify price increase that has helped UMG — and other record labels — experience a surge in year-over-year subscription growth.
UMPG improved 1.8% (2.2.% at constant currency) to 500 million euros ($550 million). Excluding the CRB accrual, publishing revenue was up 22.4% (22.9% at constant currency). Digital revenue grew 0.3% to 295 million euros ($324 million), synchronization royalties jumped 18.5% to 64 million euros ($70 million) and mechanical revenue climbed 12% to 28 million euros ($31 million). Performance royalties fell 4.7% to 101 million euros ($111 million).
UMG’s Bravado merchandise division had revenue of 237 million euros ($261 million), up 4.4% from the prior-year period. The company attributed the growth to stronger direct-to-consumer sales and higher touring merchandise sales. In the U.S., Bravado benefitted from the touring activity of such artists as Slipknot, Imagine Dragons, Nicki Minaj, blink-182 and Malone, according to Muir.
While attending the University of Madison-Wisconsin as a journalism and marketing major from 2003-2006, Rick Stoner fondly remembers roaming the aisles of Strictly Discs — the Monroe Street record store he acquired from longtime owners Ron and Angie Roloff last fall — just as the world was on the cusp of the digital music explosion.
“Strictly Discs is where I bought CDs before I had an iPod,” Stoner says. “That’s another way of saying that I’m 40 years old.”
Buying the beloved local business, which Ron opened in 1988 as a single-level, 800-square-foot shop (he later expanded it by converting the store’s 1,700-square-foot basement level into a retail space) was a full circle moment for Stoner — albeit not one he actively sought out. “I was not looking for a record store,” he says. “I was looking for a business at a certain price point. And the fact that I saw this listing was a very happy coincidence.”
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The relatively quick five-month acquisition process concluded exactly one year ago, on Halloween 2023. And in January, after serving in advisory roles for three months during the handoff, the Roloffs fully exited the business (which was a subject of Billboard‘s “In a Pandemic” series from 2020 to 2021) to officially embark on their retirement, leaving Stoner to pilot the future of a store that has been a part of Madison’s cultural heart for 36 years. It’s a legacy he doesn’t take lightly, and, to foster a sense of continuity, he felt it was important to keep as many of the store’s existing staffers on board as possible.
Record Store Day 2024 at Strictly Discs in Madison, Wis.
Courtesy of Strictly Discs
“Retaining the team has been really my number one priority,” Stoner says. “Maintaining the business, maintaining the customers — to me, all those things are achievable if you’re retaining the brain trust and knowledge and vibe that comes with the team that has been there for a long time.” The store’s entire staff stayed on after the acquisition, including longtime employees Evan Woodward — who now serves as GM and runs the shop on a day-to-day basis — and Mark Chaney, who fills the role of assistant GM. “Everyone’s worked together really well,” Stoner adds. “I think they appreciate maybe a different approach to things, a little more structure, and I certainly appreciate the knowledge of music that they bring.”
Stoner’s 18-year background as a high-level advertising executive focused on management and new business development at companies including Brado, Derse, BBN and Bader Rutter makes him well-equipped to expand into new areas and supercharge what the store was already doing well. One of the first changes under his purview was instituting a new inventory management system that would be capable of handling the shop’s roughly 500,000 used vinyl records in addition to new product (he chose a system that was originally designed for grocery stores).
Another major item on Stoner’s to-do list was already in motion prior to his acquisition of the business: the conversion of 1,000 square feet of the 5,000 square foot Strictly Discs warehouse in neighboring Cambridge, Wis., into a second retail location, which officially opened Oct. 19 on a Wednesday-Sunday schedule (a grand opening is slated for sometime in November after the store’s permanent exterior sign is installed). “We have plenty of customers that aren’t in downtown Madison, and it takes them a while to drive downtown through traffic, find parking,” he says of opening the new storefront. “Now those people will be able to come here. And I also think we’ll be serving a rural customer that maybe just isn’t exposed to the cultural curiosities that come with a record store.”
Stoner is currently looking at creative strategies to build interest and excitement in the new location, including giving customers access to the music lover’s paradise contained in the back 4,000 square feet of the building, which boasts the majority of the business’ used product. Though Stoner has yet to settle on what that would look like, some ideas include quarterly bin-picking days and a “buy a crate and fill the crate” promotion.
Opening day at Strictly Discs’ new retail location in Cambridge, Wis.
Courtesy of Strictly Discs
Strictly Discs’ mountain of used product is one of the business’ key strengths. Beginning in 2010, Ron Roloff focused his energies on acquiring large private music collections in Wisconsin and beyond, leading the store to become known as the home of a treasure trove of hard-to-find records in all different genres. “I think what sets us apart is the volume and quality of more niche genres: jazz, classical,” says Stoner. “We have an extensive soundtrack collection that, before buying the business, I never could have imagined or guessed how well that does for us.”
Those used records are key to another major initiative Stoner has in mind: creating a subscription model that would allow customers to choose a certain number of new or used records per month — which would require integrating the store’s website with the Shopify platform — and either pick up their chosen product in-store or have it delivered to their homes. The idea was partially inspired by similar plans offered by the likes of Vinyl Moon and Vinyl Me, Please — though, as Stoner points out, those companies don’t allow customers the kind of choice Strictly Discs can offer. “If you’re paying $50 or $100 a month, especially if you live in a rural area, the record store is coming to you,” he says. “And I don’t see a lot of shops doing that.”
With a goal of launching some iteration of the subscription model during this year’s holiday shopping season, Stoner and his employees are currently focused on what he calls “the Herculean effort” of cataloging the store’s warehouse inventory. Stoner aims to initially target customers within Wisconsin but outside of Dane County (where Madison is located), drawing interest through targeted ads online and via the store’s email newsletter. “I think my main concern about it is that it doesn’t cannibalize our store,” he says. “So my hope is someone could subscribe to that, pick up things in store, they would get a discount in store for being a member, and it would allow us some growth and customer loyalty.”
Stacks of used vinyl at the Strictly Discs warehouse in Cambridge, Wis.
Courtesy of Strictly Discs
The focus on getting the subscription plans off the ground ties in with Stoner’s overarching goal of beefing up Strictly Disc’s e-commerce efforts. On that front, the Roloffs were already ahead of the game, with a sales mix of 70% in-store and 30% online (within that, the mix is 90% vinyl and 10% CDs; while 65% of vinyl sales are new product.) “I’ve learned that that’s pretty atypical,” he says. I think [we have] the highest online [sales percentage], at least of record stores in our coalition [the Coalition of Independent Music Stores].” And in the long term, he’s looking to flip those stats on their head: “I want that 70-30 to look like 20-80 without hampering the growth of the store,” adds Stoner, who’s hoping to triple the store’s business through online sales.
The plans don’t end there. In addition to supersizing the store’s Record Store Day activities — this year, the store closed down part of Monroe Street with the city’s permission and threw a block party for the event — he’s looking to launch pop-up record shops at music festivals and other events outside of Madison to extend the physical store’s geographic reach.
For all of his ambitious plans, the store’s longtime customers probably won’t notice much of a difference. Like Ron, Stoner is currently intent on keeping Strictly Discs a pure music shop, steering clear of merch sales and other non-music items — which would be difficult to institute in any event, he says, given the shop’s relatively small footprint — and keeping intact what people loved about it in the first place.
“[In] our main record shop in Madison … almost nothing has changed, and that’s been intentional,” Stoner says. “It’ll be a staple of the community for the next 36 years, just like it has been the last 36 years.”
More in this series:Twist & Shout in Denver, Colo.Grimey’s in Nashville, Tenn.Home Rule in Washington, D.C.Sweat Records in Miami, Fla.
Simone Schinkel, the CEO of Music Victoria, has announced her departure from the organization at the end of the year. It caps off nearly four years of transformative work that has helped shape and elevate the Victorian music scene.
Schinkel, who took the reins during the challenging early days of the pandemic, has overseen an era of substantial growth, spearheaded major advocacy efforts, and secured more than $88 million in direct government funding for the sector.
Throughout her tenure, Schinkel has driven a range of initiatives and programs aimed at supporting Victoria’s music community, from launching a help desk and resources for industry professionals to expanding the Music Victoria Awards. Her white paper, Priorities for the Victorian Music Industry, played a key role in prompting government action on crucial issues, including lifting a long-standing freeze on new late-night liquor licenses.
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Reflecting on her time with Music Victoria, Schinkel said, “My journey at Music Victoria was made possible through an incredible and inspiring community alliance. We have achieved some great outcomes and it is a bittersweet moment that I announce my departure.”
“While the landscape has changed during my time at Music Victoria, the power of music remains strong. We have continued to shape a more sustainable and equitable future. The Victorian music industry will continue to soar.”
“Our work is a collective effort and I am so grateful that I have had the opportunity to engage with some incredible people to achieve our vision to champion the entire Victorian music sector,” said Schinkel.
“I extend my heartfelt gratitude to our 5,000+ members, our dedicated staff and Board – both past and present – and our partners, industry advisors, fellow peak bodies and collaborators,” Schinkel acknowledged.
During her tenure, Schinkel introduced new Music Victoria Award categories to celebrate the diversity of Victoria’s music, including Best Pop, Best DJ, Best Regional Festival, and awards for disabled artists and diaspora talent. In 2023, Music Victoria conducted the first statewide Victorian Live Music Census, offering valuable insights into the health of the industry post-pandemic, with a follow-up scheduled for release later this year.
Schinkel’s collaborative leadership style earned her praise from notable figures within the industry. Kutcha Edwards, a Mutti Mutti musician and Music Victoria Hall of Fame inductee, highlighted her impact on First Nations music communities, noting her “commitment to deep listening, reflecting, and learning.”
Jaddan Comerford, CEO of UNIFIED Music Group, commended Schinkel for her steady leadership through challenging times, while Eliza Hull, a musician and disability advocate, remarked, “Her passion for Victorian music, local artists, and the local industry was evident in every decision she made.”
Music Victoria’s Board Chair, Chris O’Neill, lauded Schinkel’s “incredible passion and dedication” and credited her for transforming the organization’s operations and securing essential support for the sector. Under Schinkel’s direction, Music Victoria expanded its advocacy, refined its internal processes, and fostered an inclusive culture within the team.
Schinkel will step down on Dec. 20, with Music Victoria’s board commencing the search for her successor.
In 2020, the U.S. music business contributed $212 billion to the country’s gross domestic product, up from $180 billion in 2017, according to the latest iteration of a report titled 50 States of Music that integrates data provided by independent record labels, performing rights organizations, independent music venues, music museums and other organizations.
The booming music industry has also been good for the labor market. From 2017 to 2020, the number of jobs supported by the music industry grew 1.9% annually from 2.17 million to 2.54 million while overall U.S. employment growth was flat, according to the report’s study from two economists at the firm Secretariat. Direct employment — jobs in the music industry — grew from 1.13 million to 1.32 million over that time, while indirect and induced employment improved from 1.04 million to 1.22 million. Indirect employment includes jobs that result from the goods and services used by direct employment. Induced employment accounts for the jobs created by the additional spending of direct and indirect employees.
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Fueled by streaming services and a revitalized vinyl market, U.S. wholesale recorded music revenues increased from $5.78 billion to $8.02 billion from 2017 to 2020, according to the IFPI. That growth coincided with an uptick in music businesses. Over that four-year time span, the number of music industry businesses and establishments — spanning brick-and-mortar entities to digital companies — increased from 227,000 to 252,000.
In putting a dollar amount on the U.S. music industry, the report effectively underlines the stakes in failing to stave off the threat artificial intelligence (AI) poses to the business. A thorough study of music’s economic impact is important for an industry that frequently seeks lawmakers’ intervention against new technologies and threats to copyright. If music business revenue and employment are hit by AI, the losses would create a ripple effect that touches other businesses and workers.
“As Congress and state leaders grapple to figure out smart guardrails and innovative policies for the AI age, we face a truly unique, once-in-a-generation inflection point,” wrote Mitch Glazer, chairman/CEO of the RIAA, which funded the study behind 50 States of Music. Glazier continued that he welcomed “new opportunities, sounds and experiences made possible through responsible AI innovation” but warned of the risks of “irresponsible and unethical AI.” Unauthorized and uncompensated use of copyrighted music to train AI models “threatens to rip a gaping hole in the fabric of America’s music communities” and shift music’s economic impact to “global tech giants at the expense of the artists, writers and music companies who shape America’s 50 states,” he added.
California, where music contributes $51.4 billion to the economy, has the largest impact of the 50 states in terms of earnings, employment and value added. Texas, home to nearly 128,000 songwriters (per ASCAP, BMI, SESAC and GMR), ranks second at $26.6 billion, while New York is a close third at $24.9 billion. Florida, home to the Latin music business, is fourth at $9.3 billion. Driven by country music in Nashville and the blues in Memphis, Tennessee ranks fifth at $7.5 billion. And Pennsylvania, where music supports nearly 115,000 jobs, is sixth at $6.3 billion.
The report’s authors used data from sources such as the Census Bureau, the Bureau of Economic Analysis and private-sector data sets. Music’s economic impact was calculated by estimating its direct revenue and employment and then using what’s called a RIMS II multiplier — statistical tools developed by the Bureau of Economic Analysis — to estimate direct revenue’s downstream effects on local economies.
Reservoir Media raised its outlook for the coming year and delivered mid-single-digit growth thanks to strong gains in digital and synchronization revenues.
The New York-based company’s revenue increased 6% to $40.7 million in the fiscal first quarter ended Sept. 30, the company announced Wednesday (organic growth that excludes the impact of acquisitions was 5%). Adjusted earnings before interest, taxes, depreciation and amortization climbed 11% to $17.6 million.
Music publishing revenue jumped 10% to $28.6 million due mainly to catalog acquisitions and price increases at digital streaming services. Digital revenue grew 22% to $15.6 million and synchronization royalties increased 30% to $5.8 million as film and TV licensing is “getting back to pre-strike levels,” said CEO Golnar Khosrowshahi during Wednesday’s earnings call. Performance revenue fell 22% to $5.1 million, due to “the timing of hits songs,” the company said. Mechanical royalties dropped 13% to $1.1 million.
Recorded music revenue fell 1% to $10.7 million. Reservoir attributed the year-over-year decline to the reissue of rap icons De La Soul’s physical catalog in the prior-year period. Recorded music physical revenue sank 21% to $1.5 million. Digital revenue fell 0.1% to $7.2 million. Neighboring rights revenue jumped 35% to $1.1 million and synchronization royalties rose 3% to $900,000.
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Last quarter, Reservoir licensed of Snoop Dogg’s publishing catalog and Snoop-owned Death Row Records, and signed deals with Canadian singer-songwriter k.d. lang, country writer-producer Travis Heidelman, songwriter Jon Decious, writer-producer Kes Kamara and writer-producer Ben Stancombe. The company also purchased the publishing catalog of Billy Strange (“A Little Less Conversation,” “Clean Up Your Own Backyard”) and acquired the royalties of Jack Douglas, who produced hits for such artists as Aerosmith and Cheap Trick.
“As we look forward to the second half of fiscal 2025 our pipeline continues to remain strong, with over $1 billion in transactions under consideration at attractive entry multiples,” said Khosrowshahi. Reservoir is looking at opportunities with “better multiples,” she added, “but I still continue to see a substantial number of transactions trading at high-teen multiples. And I think the long-term value of these assets is recognized, thus warranting these multiples.”
Reservoir slightly increased guidance for the full fiscal year. Revenue to a range of $150-153 million (from $148-152 million) and adjusted EBITDA to $59-$62 million (from $58-61 million).
Shares of Reservoir Media were up 0.3% to $8.81 by midday after jumping as high as $9.09, just shy of the stock’s 52-week high of $9.20.
Fiscal first quarter of 2025 financial metrics for Reservoir:
Revenue: up 6% to $40.7 million
Adjusted EBITDA: up 11% to $17.6 million
Net income: down 78% to $200,000
Publishing revenue: up 10% to $28.6 million
Recorded music revenue: down 1% to $10.7 million
When Beyoncé sings about “rugged whiskey” and the “dive bar we always thought was nice” on her country album Cowboy Carter, she was definitely not talking about her whisky.
Launched this September in partnership with luxury giant LVMH’s Moët Hennessy, Queen Bey’s premium rye whisky SirDavis retails for $89 bottle and was inspired by her paternal great-grandfather’s legacy as a successful Prohibition-era moonshine maker.
It’s the latest product from Beyoncé, who, in addition to performing 56 shows for her $580-million-grossing 2023 Renaissance World Tour, also released a perfume called CÉ NOIR and a haircare line called Cécred over the past year.
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Fans are feverishly speculating on what genre she might reclaim next for a potential Act III album. So, why would she spend her precious time and invaluable brand power to release a whisky? And how much money might she make from it?
Billboard interviewed half a dozen alcohol industry experts and leading entertainment lawyers, and while they unanimously agreed that it is too early to guess at SirDavis’ sales — it only launched in August — they said the whiskey fits into a modern-day marketing strategy as multi-faceted as Queen Bey’s career.
“It’s an extension of the marketing push for her latest album, which has references to traditional Americana and American heritage,” says Spiros Malandrakis, head of alcoholic drinks research for Euromonitor, referencing Beyoncé’s Cowboy Carter, which came out in April. “What is one of the most iconic products that encapsulates American heritage? It’s an American whisky that has roots dating back to moonshine.”
Cowboy Carter debuted at No. 1 on the Billboard 200 album chart dated April 13 with 407,000 equivalent album units earned in the U.S. in the week ending April 4. It has since racked up a total of 1,322,896 equivalent album units, according to Luminate, and marks her her eighth No. 1 album. Whisky comes up in the lyrics of several Cowboy Carter songs, as do Levi’s jeans — spelled “Levii’s Jeans” on the track that features Post Malone — and Queen Bey is currently featured in an ad campaign for the classic denim company.
But given the international nature of her brand, Malandrakis says, Bey’s whisky works to extend its appeal beyond a strictly Americana audience. SirDavis whisky dropped the e, as the Scottish do, and it incorporates grains often used in Scotch and Japanese whiskey.
“She kind of winks towards this international side of her brand,” Malandrakis says. “She is a black American icon. She is also equally, potentially even more so, an international icon.”
WORTH A SHOT
Celebrity liquor deals have the potential to make superstars into billionaires, like the sale of Casamigos Tequila did for George Clooney, and before that what Cîroc vodka and DeLeón tequila did for Sean “Diddy” Combs. Beyoncé’s husband Jay-Z did his first liquor deal in 2012 — D’ussé Cognac with Bacardi — and in 2021 he sold half of his champagne Ace of Spades to LVMH. As of May, Forbes estimated Beyoncé’s net worth to be $760 million.
Jordan Bromley, head of Mannatt’s entertainment transactions and finance practice, says that these kinds of deals can be highly lucrative, whether the talent receives an upfront check or sticks around for two or three years to build the brand and then negotiates a big payout when they exit.
Beyoncé x Sir Davis
Mason Poole; Julian Dakdouk
“This should be a tentpole of any icon’s business portfolio, and not just in liquor but maybe home goods, athletic goods or venues,” says Bromley, citing Rihanna’s Fenty as one of the most successful examples of an artist becoming a billionaire thanks to a business outside of a music career. “You’re not stressing out over a record label audit—which you should do every two or three years—because you’re a 20% owner in a billion dollar company.”
However, Bromely says, there is risk for icons in lending their star power to a product.
“Is there risk? Absolutely—only the entire trust you’ve created for your brand,” Bromley says.
The product has to be good and it has to sell, and the ingredients necessary for those two components are not the same with all products. The Wall Street Journal reported in 2023 that Beyoncé and Adidas AG ended their partnership, the “adidas x IVY PARK” collection, after disappointing sales.
With spirits, sources say success usually seems to follow when fans believe a superstar authentically enjoys drinking the spirit in their spare time.
The SirDavis story posits that Beyoncé has whisky-making in her blood, and followers of her social media accounts know she has frequently posted about tasting and collecting rare Japanese whiskeys.
It is not known if Beyoncé has an ownership stake in SirDavis, and LVMH, which owns Moët Hennessy, rarely breaks out sales for its individual products. But Malandrakis says most celebrities exit their liquor company partnerships within a few years with a sizeable check.
“Not because they lose interest but they realize these things have a timeline. At some point Beyonce will not be as relevant, as strange as that sounds,” Malandrakis says. “The longevity of products like that is ultimately down to how good they are and how much they create for the community.”
Money Makers is a new column in which Billboard unpacks one financial issue a week for an artist in the news. Thanks for reading, and if you have suggestions or tips, email me at ediltsmarshall@billboard.com.
ASCAP and SACEM are expanding their existing relationship into an alliance that will allow them to invest together in data technology and collect directly from streaming services in more foreign markets, plus launch an AI task force and encourage collaboration among songwriters. Since 2022, SACEM has collected money from online services in foreign markets for ASCAP […]
United Talent Agency has appointed Kirk Taboada, an industry veteran in the live Latin music scene, as an agent within its music division. Based in Miami, Taboada’s recruitment is part of UTA’s strategic efforts to solidify the company’s market-leading presence across the global Latin music genre. Taboada began his career in the music industry in 2005 […]
Breaking Benjamin signed with BMG to release new music, their first since 2018. According to a press release, the band has racked up 8.5 billion streams globally.
On the heels of his recent signing with Eminem’s Shady Records, Aftermath Entertainment and Interscope, Filipino rapper Ez Mil signed to Grassroots Music for global management. His representative at the company is Dan Lee.
Universal Music Canada signed Punjabi producer thiarajxtt (a.k.a. Dilmanjot Singh Thiara), who released the EP If the Sun Had a Dark Side on the label on Oct. 18. Last year, thiarajxtt produced most of Diljit Dosanjh’s album Ghost and collaborated with Jassa Dhillon, Shubh, Channi Nattan, Jerry and more.
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The Head and the Heart signed with Verve Forecast and released a new single entitled “Arrow.” A new studio album will be announced in the coming weeks.
The Red Jumpsuit Apparatus (“Face Down,” “Your Guardian Angel”) signed to Better Noise Music, which will release the band’s new album next spring.
Finnish rock band The Rasmus (“In the Shadows”) also signed with Better Noise, which jointly released the group’s new single, “Rest in Pieces,” with Nordic indie label Playground Music on Friday (Oct. 25).
Rap-rock group Hollywood Undead signed with Sumerian Records and released the new single “Hollywood Forever.” According to a press release, the group has more than 3.1 billion career streams across platforms.
Alt-pop trio Coyote Theory (“This Side of Paradise”) signed with Nettwerk Music Group and released the new single “Waiting on the Weather.” The band’s drummer, Jayson Lynn, acts as the group’s manager. A&Rs are Anne Elise Dickinson and Tom Gates.
Austin Williams and Truth or Dare Records partnered with RECORDS Nashville/Columbia Records. Williams, known for songs including “Here We Go Again” and “Wanna Be Saved,” is repped by Loyd Potts and Ken Madson at Ignition Management, with agency representation from CAA. – Jessica Nicholson
Big Machine Records signed singer-songwriter and two-time Grammy nominee Ryan Hurd, who released his latest song, “This Party Sucks,” on Friday (Oct. 25). Hurd is also signed to Big Machine Music for publishing. The Big Machine Records roster additionally includes Tim McGraw, Carly Pearce, Midland, Rascal Flatts and Jackson Dean. – Jessica Nicholson
Mereba signed to Secretly Canadian, which will release her new album, The Breeze Grew a Fire, on Feb. 14. The first single from the LP, “Counterfeit,” dropped on Oct. 22.
Pop-rock duo Sparks (Ron and Russell Mael) signed with Transgressive Records, which will release their as-yet-untitled upcoming studio album — the band’s 28th — next year, with Firebird Label Services serving as distributor.
HEYOON, a Korean-born pop artist based in both L.A. and Korea who was previously part of the international pop group Now United, signed with Universal Music Korea. The label will help develop HEYOON globally.
Sibling duo Ocie and Wes Crowe, known as the country/folk/alternative duo Crowe Boys, signed with UMG Nashville. The duo’s first release for the label is “Let Me Feel Alone,” written solely by Ocie Crowe, out Nov. 8. – Jessica Nicholson
New York-based rapper-producer-trumpeter Pan Amsterdam, previously known as Leron Thomas, signed to Heavenly Records and released the new track “White Ninja.” An album is due next year.
Manchester, U.K.-based experimental punk band Maruja signed with Music For Nations and released a new single, “Break the Tension,” on the label. The group is slated to embark on a North American tour next year.
Barbadian singer/songwriter/producer Ayoni signed with Def Jam Recordings and released the single “San Francisco” ahead of a larger project set to drop next year. Ayoni is featured in the Paramount+ documentary Uncharted.
WME signed singer-songwriter Zach Meadows. The Florida native (and now Nashville resident) is repped by Torrez Music Group’s Alex Torrez and Emily Vincent. He released his debut album, Road to Nowhere, in August and will soon join Braxton Keith on the road throughout November. – Jessica Nicholson
Handcraft Entertainment signed Japanese-British artist, model and influencer Hana Kuro to a global production and management deal, marking the second major signing for the J-pop-focused firm.