Business News
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Welcome to Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business.
We have compiled ways music companies are coming together to support those affected by the wildfires across Los Angeles, plus a running list of organizations offering relief for musicians and music industry professionals, as well as a tally of affected industry events. More coverage here.
There’s been a changing of the guard at Warner Music Hong Kong, where Robin Ch’i has taken over from longtime managing director Gordon Lee, who is retiring after two decades of leadership. He reports to Simon Robson, who oversees Warner Music Group’s APAC recorded business until a permanent leader is named. Ch’i has been with WMG for 15 years, most recently as director of A&R, brand and business. He previously worked at Warner Chappell Music, focusing on artist development and brand strategies. To land a smooth transition, Lee will support Ch’i until the end of March. Under Lee’s tenure, the company has become a major force in the Asian music industry, developing top artists like Janice Vidal, Khalil Fong and MC Cheung Tin-Fu, while achieving 2.5 times revenue growth in the past five years, the company said in its announcement this week. Robson praised Lee’s contributions and expressed confidence in Ch’i’s leadership, emphasizing WMHK’s commitment to supporting artists and driving innovation “in this dynamic industry.”
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“Music has always been a source of magic for me; it’s not just my career, but a passion that enriches my life,” said Lee, who said he personally chose Ch’i as his successor. “I’m grateful to everyone at Warner Music Group, especially my dedicated team, whose support has been invaluable. I also want to thank our artists for their trust, allowing us to help them realize their dreams.”
Meanwhile…
Sid Fohrman, a prominent music industry lawyer, joined Paul Hastings LLP in Los Angeles as a partner and chair of the firm’s music industry practice. Repeatedly recognized by Billboard in our Top Music Lawyers list — we are talkin’ six years running — Fohrman specializes in high-stakes music industry transactions, including catalog sales, music licensing and securitization. He also advises on emerging media business models, artificial intelligence, and global sponsorships. His clients include media companies, music labels, funds, talent, and entrepreneurs, with notable representations for Primary Wave, BMG Rights Management, Warner Music Group, TikTok and HYBE America. Previously leading Willkie Farr & Gallagher LLP’s music and digital media practice, Fohrman enhances Paul Hastings’ entertainment and media platform, co-led by Erik Hyman and Ken Deutsch. Firm chair Frank Lopez praised Fohrman’s ability to handle complex transactions, “including in the dynamic music space” which he said “enhances our top-of-market capabilities for key players at the intersection of technology, media and entertainment.” Lopez added, “There are strong synergies between Sid’s practice and our roster of leading corporate clients as well as an evolving asset class for asset manager clients across many of our practices, including finance, M&A, private equity and funds, which will help us gain further market share.”
Joey Arbagey joined 19 Entertainment as the American Idol producer’s new executive vp of music, overseeing 19 Recordings, 19 Publishing and 19 Management. The music biz veteran is based in Los Angeles and will report to SPT nonfiction president, Eli Holzman, and EVP of production Rachel Dax. Arbagey was most recently the evp of A&R at Epic Records, where he played a pivotal role in the careers of artists including Camila Cabello, John K, Eddie Benjamin, Zara Larsson and AJ Mitchel, among others. During his lengthy tenure at Epic he worked closely with then-CEO L.A. Reid, overseeing a roster that included big names like Travis Scott, Meghan Trainor and Future. Earlier in his career, Arbagey worked in radio in San Francisco and later as vp of A&R at Arista Records and Island Def Jam Music Group. In 2007, he launched Near Records, later rebranded as Arbadel Productions, a consultancy, label, and production company. “We are so glad to bring Joey aboard as we work to evolve our music division to address the needs of artists in the music industry of today,” Holzman and Dax said. “His input will be invaluable as we continue to build the legacy of one of the most iconic institutions in music.”
Sony Music Publishing appointed Tatchara Longprasert as general manager of its new office in Thailand (SMP TH), making it the first international publisher with a dedicated local team in the country. Based in Bangkok, Longprasert will report to Carol Ng, president of Sony Music Publishing Asia. SMP TH aims to collaborate with Thai music industry stakeholders to foster international partnerships and develop opportunities for Thai composers and songwriters. Longprasert will focus on expanding SMP’s reach in Thailand’s growing music market. With over a decade of experience, Longprasert previously served as A&R Director at Sonray Music and held roles at Warner Music Thailand, BEC World PLC and S.M. Entertainment. Ng noted Thailand’s dynamic music scene, stating, “Thailand has a rich tapestry of sounds and stories. As Thai repertoire grows rapidly, more artists seek a dedicated music publishing partner with global networks and expertise. We look forward to supporting talented songwriters in SMP Thailand and sharing their work with the world.”
NASHVILLE NOTES: Kate Vastano joined Sound Talent Group‘s senior management team, focusing on maintaining its strong culture and aligning with future goals. An industry veteran, she brings expertise in recruiting, performance strategies and employee engagement. Vastano previously served as director of HR at The Agency Group and people operations manager at United Talent Agency … Shelby Paul, the director of communications at Big Machine Label Group, has left the company after nearly a decade. She began her journey with Big Machine in 2015 as an intern following her graduation from Central Michigan University and advanced to her director role in 2022. She’s reachable here … Alan Jackson appointed daughter Mattie Jackson as master blender for his Silverbelly whiskey. She has written two books about grief and hosts a podcast, In-Joy Life.
Mom+Pop Music co-owners Thaddeus Rudd and Michael Goldstone announced the launch of Pipes Music, a creative and digital agency that supports both signed and unsigned artists. Pipes offers content creation, social media strategy and management of select artist properties. Goldstone emphasized that Pipes helps artists streamline their creative process while maintaining their unique aesthetic across platforms. In a press release, Rudd highlighted the agency’s flexibility in supporting artistry. Additionally, Sullivan Brock leads the creative team, focusing on content shoots and live performance footage, while Emily Ferrell oversees user-generated content campaigns with assistance from Ella Parent and Shae Hicks. Pipes has successfully executed campaigns for artists like Maya Hawke and Magdalena Bay and is currently working with new Mom+Pop signing Chaparelle.
Cameron Kooklanfar is now an A&R manager at Prescription Songs, where since 2022 he has collaborated with artists such as Hayley May, Bantu, Shae Jacobs, Kevo, Dominique Sanders, Seb (1Mind) and Lourdiz. A standout achievement in the Angeleno’s career was organizing a songwriting camp with Insomniac, which resulted in the globally successful track “Sideways” by Gordo & Drake, co-produced by Bantu. Rhea Pasricha, Head of A&R, West Coast, commended Kooklanfar’s said Kooklanfar’s “tireless work ethic, knowledge across musical genres, and passion for identifying and nurturing the best talent makes him a great A&R.”
Concord elevated Megan Hall to senior vice president of business and legal affairs for Concord Music Publishing. Based in London, Hall will lead Concord’s UK legal team, oversee the global sub-publishing network, and manage the company’s relationship with digital licensing agent ICE. She’ll also work closely with svp Michelle Brown to support Concord’s songwriters on business affairs matters, while reporting to evp Duff Berschback. Hall brings over 20 years of legal expertise, with priors at DMH Stallard, Ministry of Sound and Sony Music Publishing. She joined Imagem Music in 2013 and transitioned to Concord following its acquisition of Imagem in 2017. Hall is also an active member of PRS’s Licensing Committee Advisory Group and the International Confederation of Music Publishers’ Legal Expert Group. Berschback praised Hall’s deep knowledge of the global music publishing environment, while chief publishing officer Jim Selby emphasized her strong connections. “As the Publishing division continues to grow globally, I know that Concord and the songwriters we represent will continue to be well served by Megan,” said Selby. “Her proficiency in legal matters and her deep roots in the music publishing community make her a great fit for this role.”
Phil Kano, a veteran rock promotion executive, has launched KILPHASO CONSULTING, focusing on promotion, marketing, and artist development. His first client is In De Goot Entertainment, where he will serve as an in-house consultant for projects involving Shinedown, Halestorm, Theory Of A Deadman, Black Stone Cherry, and Zero 9:36. Kano previously held the position of senior VP of rock promotion at Elektra Music Group and clocked over 25 years of experience with Roadrunner, Fueled By Ramen, Atlantic, 300 and Elektra, plus an early-career stint in RCA’s promo department. Phil can be reached here.
BOARD SHORTS: Cumulus Media appointed Steven M. Galbraith to its board of directors. A major shareholder of Cumulus, Galbraith brings extensive financial expertise, having held key roles at Kindred Capital Advisors, Herring Creek Capital, Maverick Capital, and Morgan Stanley. He has also taught securities analysis at Columbia University Business School and advised the Office of Financial Research. Beyond finance, Galbraith is active in non-profits, serving on boards for Tufts University, Success Academy Charter Schools and the National Constitution Center, and he holds positions on several corporate boards … The Library of American Broadcasting Foundation (LABF) elected four new board members: Heather Cohen, Mike McVay, Sam Bush and Ernesto Mourelo. The LABF Executive Committee re-elected Gary Chapman, Mary Collins, Jack Goodman, David Kennedy, and Ginny Hubbard for two-year terms, with Dave “Chachi” Denes joining the committee. Additionally, the LABF Board elected Heather Birks, Mike Carter, Chandra Clark, Harry Jessell, Deborah Parenti, Walter Podrazik, Dan Spears, John Taylor, Joyce Tudryn, and Dennis Wharton to new three-year terms.
Collin Citron, a seasoned music publicist, joined 2b Entertainment, the PR team led by Bobbie Gale and Luke Burland in Los Angeles. Previously, Citron was senior director of publicity at Elektra Records since 2018, where he managed national publicity campaigns for artists like Bailey Zimmerman, Panic! At The Disco, All Time Low, NEEDTOBREATHE and Fitz and The Tantrums. This new role marks a return for Citron, who began his career in 2014 with BB GUN Press, which merged with MixedMediaWorks in 2023 to form 2b Entertainment.
The New York Convention Center Operating Cooperation announced Joyce Leveston as the new CEO of the Jacob K. Javits Convention Center, effective March 10. Leveston, who brings over 30 years of industry experience, was previously the senior vp of convention centers at Oak View Group, overseeing 60-plus convention and conference centers in the company’s OVG360 portfolio. She has held senior roles at major convention centers across the U.S. and managed high-profile events like the Super Bowl fan fests and presidential inaugural balls. Hugh Carey, vice chair of NYCCOC, praised Leveston’s vision and passion, adding, “her leadership will not only inspire our team but will also enhance the experience for all who walk through our doors.”
ASM Global promoted Ryan Golden to GM of Pechanga Arena San Diego, a 14,000-capacity venue. Golden will oversee all aspects of daily operations, including purchasing, booking, marketing, finance, human resources, food and beverage, box office, production, maintenance, parking, security and emergency management. Golden has been with Pechanga Arena for four years as assistant GM to outgoing GM Steve Eckerson, who will transition to a part-time advisory role. Prior to joining ASM Global, Golden’s experience included a vp of events role for AEG’s Microsoft Theater and L.A. LIVE.
ICYMI:
Manu Ferradas
BMG named Johannes von Schwarzkopf as chief strategy officer and executive board member, overseeing global strategy, M&A and global licensing and synch operations at the Berlin-based music giant … Longtime rock and punk promoter John Reese and author Craig Duswalt joined forces to launch the Disrupt Artist Management Network (DAMN!) … and Manuela Ferradas joined SiriusXM in a senior role to oversee the Latin artist and industry relations team for SiriusXM and Pandora.
Last Week’s Turntable: Concord Forms New Digital Division
As wildfires continue to threaten Los Angeles amid dangerous “red flag” conditions, the boutique bank Raine has announced that its Grammy Week event will be reframed as a fundraiser for music professionals affected by the massive Palisades and Eaton blazes.
The event, to be held on Jan. 30 at the San Vicente Bungalows in West Hollywood from 5:30 to 7:30 p.m., will be co-hosted by Raine, the National Music Publishers’ Association, and music industry publications Music Business Worldwide and HITS. Donations will go to the Recording Academy and MusiCares’ Los Angeles Fire Relief Effort supporting music workers impacted by the disasters. Those interested in attending are being asked to donate a minimum of $250, which can be done at the event’s RSVP page. Questions can be directed to wildfirefundraiser@raine.com.
Raine partner Fred Davis says they chose to turn the event into a fundraiser — rather than cancel it altogether — to make the most of the attendees’ “enormously charitable” nature.
“So many in our music community have been devastated by their losses. It hurts,” Davis tells Billboard. “I have grown up in this industry. I have a responsibility to help.”
The Raine event would have been the music and entertainment industry-focused bank’s second Grammy Week cocktail party, but invitations went out one day before the Palisades Fire broke out on Jan. 7. That blaze went on to destroy more than 6,600 buildings and homes across more than 23,000 acres, while 11 people lost their lives. The Eaton Fire, which started later the same day in Altadena, is estimated to have destroyed more than 9,000 structures and killed 17. Both of those fires continue to burn but are nearing full containment, though a newer blaze, the Hughes Fire, exploded on Wednesday (Jan. 22) north of L.A. and prompted widespread evacuations in the Castaic Lake region. It has since burned more than 10,000 acres and is at 24% containment.
Notably, the Raine event is one of the few to remain on the Grammy Week calendar in the wake of the wildfires, with the majority of the major bashes either canceled or postponed. Those that remain, including the annual MusiCares Person of the Year and Clive Davis Galas put on by the Recording Academy, have similarly been re-spun as fundraisers for wildfire relief.
The Grammys themselves, which are still scheduled to be held on Feb. 2 at Crypto.com arena in Downtown Los Angeles, will go forward, according to academy, “with a renewed sense of purpose: raising additional funds to support wildfire relief efforts and honoring the bravery and dedication of first responders who risk their lives to protect ours.”
From a pop music perspective, the Donald Trump inauguration seemed normal enough. After Trump’s inaugural address, Carrie Underwood sang “America the Beautiful” — a cappella, in the wake of an audio malfunction. Jason Aldean and Rascal Flatts performed at the inaugural ball; other events featured Nelly, Gavin DeGraw and the Village People; Snoop Dogg even played the Crypto Ball. It was a far cry from eight years ago, when Trump’s first inaugural featured a comparatively anemic lineup of Toby Keith, Jennifer Holliday and 3 Doors Down. Back then, Billboard reported that the 2017 event “has been hobbled by the perception that major entertainment industry names have refused invites to perform at the festivities.”
The reaction of many artists and music executives to Trump’s first term was to hope there wouldn’t be a second. Artists spoke out against him, and those who supported him took their share of criticism for it. (The exception is Lee Greenwood, who has become so associated with Trump that it’s almost hard to remember a time when he wasn’t.) Oddly, the president for whom the music business had so much contempt probably helped it more than President Barack Obama, who championed technology companies at the expense of rights holders, while Trump signed the Music Modernization Act.
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That was then.
Now — well, now things are different. The artists who supported Kamala Harris found out how much power they have — less than they thought. (Remember all that talk about the Swiftie vote?) Mark Zuckerberg and Jeff Bezos, who have real power — they don’t just participate in the conversation, they steer it — had VIP seats at the inauguration. Then there’s Elon Musk, who has used the influence of X in ways that might help Elon Musk (who, when he’s not hating the government, does plenty of business with it). If such powerful CEOs stand behind Trump, who are artists to stay home?
Maybe that’s why artists who seem to hate Trump turned around. Snoop once told DJ Suss that Trump’s supporters were “racist” and starred in a video in which he pulled a fake gun on the character “Ronald Klump.” (The Crypto event at which Snoop performed was independent but Trump embraced the technology by issuing a meme coin.) Village People frontman Victor Willis, who in 2020 asked Trump to stop playing “Y.M.C.A.” and “Macho Man” at his rallies, said on Facebook that the group “accepted an invitation from President Elect Trump’s campaign to participate in inaugural activities.”
These artists aren’t known for their politics — at this point, Snoop’s brand is mostly about being a brand, and Willis seems to relish the exposure Trump gives his songs. (In the Facebook post that announced the Village People performance, Willis also threatened to sue any news organizations that refer to “Y.M.C.A.” as a gay anthem, “because it is damaging to the song.” I will simply note that it originally appeared on the Village People album Cruisin’.) But their actions make other artists less likely to shy away from the new administration. Because the truth is that millions of Americans voted for Trump and those who object to his politics — including myself, incidentally — won’t change their listening habits over anything like this.
Over the past decade or so, “cancel culture” has put pressure on creators and companies to change by trying to ensure that bad behavior has consequences. The problem is that the actual consequences rarely materialize — of all the artists who transgressed and faced online criticism, only R. Kelly saw his popularity plummet, and only after years of accusations, plus multiple convictions. After Morgan Wallen was seen on video using a racial slur in 2021, his radio play plummeted, he was dropped by his booking agent, and his recording contract was “suspended” — but his career recovered within a year. Kanye West still books big venues.
The idea of cancel culture was that the creative sector could pull politics to the left — that if artists and companies pursued more progressive policies, government would follow. Instead, the opposite is happening: Politics is pulling pop culture to the right. Some of this isn’t viscerally ugly — the crypto event that Snoop played isn’t racist or sexist. But unregulated currencies are get-rich-quick schemes backed by arch-libertarian politics that give algorithms more power than democracy.
During Trump’s first term, there was a great deal of #resistance, and the Democrats seemed energized. This isn’t who we are, we told ourselves — it’s an aberration. And for four years starting in 2020, it seemed like that was the case. Now the Democrats are in disarray, united only by their opposition to Trump as a leader, when in fact a new poll showed that many of Trump’s policies are more popular than he is. This is who we are, at least at the moment. Many Trump voters want to see acts they like play inaugural events, and there’s going to be a big market for new artists in the same mold. (I love the Linda Lindas, but there’s more money in signing the next Jason Aldean.)
For the last decade or so, companies that took stands on social issues and artists who spoke up for left-leaning politics were accused of “virtue signaling” — doing the right thing to be seen doing it. At the time, it was so easy to do “the right thing” that it was almost harder not to. No longer; now speaking up for liberal values is going to come at a real cost. It will be interesting to see how many creators and companies are going to be willing to pay it.
After operating a store on the Sixth Avenue side of Rockefeller Center for a little over four years, Rough Trade is now opening a second location in the complex, the retail chain announced Thursday (Jan. 23).
While the smaller existing store at street level will now be known as Rough Trade Above, and will expand its focus on new vinyl, the new location will cover 4,000 square feet and feature “a large selection of artist/band merch, audio hardware” including turntables and Bluetooth speakers, large sections of new and used CDs and vinyl records, plus movies, collectibles and more.
Since it will be housed in the below street-level retail concourse that connects the world-famous Rockefeller Center to the B/D/F/M subway station, the new store will be known as Rough Trade Below. Just like the Sixth Avenue location, which sees heavy foot traffic walking past the store, located between 49th and 50th Streets in Manhattan, the concourse has a steady crowd flow from the subway. What’s more, the retail concourse, also known as Under 30 Rock, draws office workers from the surrounding office buildings. Altogether, the Rockefeller Center complex — which is home to the annual televised Christmas tree lightening that draws heavy foot traffic during the year-end holidays — enjoys 35 million visitors a year, according to Rough Trade.
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Rough Trade hasn’t yet disclosed a grand opening date for the new store but says it will open sometime this spring, with the company likely targeting an opening before Record Store Day in April.
“We’re extremely excited to be opening Rough Trade Below this spring, helping us further cater to the tremendous demand from music lovers across the five boroughs and beyond,” Rough Trade co-owner Stephen Godfroy said in a statement. “Creating a focus of counterculture in midtown Manhattan has thankfully proved to be a wildly successful move, and we look forward to creating an even stronger creative community as the year progresses.”
One way Rough Trade expects to do that is by bringing back its famed in-store performances, thanks to the new location’s larger footprint. While the smaller 6th Avenue store has hosted acoustic sets — Green Day, for one — and in-store signings, the new store will be able to handle a larger capacity crowd for performances and intends to bring in household names alongside below-the-radar bands across all genres, the company says. Other artists who have held events at the 6th Avenue store include Coldplay, Charlie XCX and De La Soul, among others.
“It’s clear that the ethos of Rough Trade—to narrow the gap between artist and audience—has struck a tremendous chord, here in New York,” Godfroy added. “Creating an even larger mecca for the music lover is an exciting prospect, especially for our intimate live events, where the world’s most exciting artists perform in-store for the admission of purchasing their new album.”
In-store performances were an exciting element of the original New York Rough Trade store, which opened in Brooklyn’s Williamsburg neighborhood in 2013 and closed in 2021. That store, housed in a 10,000-square foot space, was split about evenly between retail space and the club, with the latter hosting live concerts but also doubling as an in-store performance space, albeit one in another room separated from the retail section by a wall.
The new store will have a performance space directly within the store next to CD and vinyl racks on castor wheels, which when moved aside will allow for greater occupancy. According to Godfroy —who responded to an e-mail—the setup will accommodate more “intimacy and magic” at in-stores and “make performances all the more unique, memorable and special, for both artists and fans.”
The goal, Godfroy adds, is to “replicate the successful model of our U.K. flagship, Rough Trade East,” in London.
Since moving to Rockefeller Center, Rough Trade has continued to curate live public events, including its annual iNDIEPLAZA music festival and a quarterly concert series in the complex’s Rainbow Room. The Rough Trade presence has helped Rockefeller Center’s management company, Tishman Speyer, revitalize the complex, allowing it to remain “a dynamic destination” for New Yorkers and visitors, according to EB Kelly, Tishman Speyer’s senior MD and head of Rockefeller Center.
“We are thrilled to have Rough Trade expanding into a second location on campus, and join our Under 30 Rock collection of shops,” Kelly continued. “In just three years, the store has become one of Manhattan’s cultural touchstones and a pillar of Rockefeller Center’s dynamic transformation. New Yorkers have shown us how much they love the experience of the current store on Sixth Avenue, and the new space in our lively Under 30 Rock community will allow even more people to enjoy the musical taste of this legendary shop.”
The new Rockefeller Center location expands Rough Trade’s retail footprint to ten stores — seven in the U.K (of which four are in London, along with outlets in Bristol, Nottingham and Liverpool); one in Berlin; and now two in New York.
The American Music Tourism Act, Mitigating Automated Internet Networks (MAIN) for Event Ticketing Act, and Helping Independent Tracks Succeed (HITS) Act have all been re-introduced to the Senate. Recently, the American Music Tourism Act was also re-introduced to Congress. Each year, bills that have not yet passed must be re-introduced to the House and the […]
Roc Nation is expanding its music business portfolio with a trailblazing partnership. The Roc has teamed up with South Korean fintech company Musicow to launch what it describes as the first Music Equity Service Provider in the United States. Musicow aims to offer Americans the opportunity to invest in music royalties. This partnership allows music […]
BMG has named Johannes von Schwarzkopf as chief strategy officer and executive board member, effective January 1. Reporting to CEO Thomas Coesfeld, von Schwarzkopf will oversee global strategy, identify new business opportunities, including M&A, and lead BMG’s global licensing and synch operations. Since joining BMG in 2021, and gaining a promotion to senior vp of […]
TikTok said Sunday (Jan. 19) it was restoring service to users in the United States just hours after the popular video-sharing platform went dark in response to a federal ban, which President-elect Donald Trump said he would try to pause by executive order on his first day in office.
Trump said he planned to issue the order to give TikTok’s China-based parent company more time to find an approved buyer before the ban takes full effect. He announced the move on his Truth Social account as millions of U.S. TikTok users awoke to discover they could no longer access the TikTok app or platform.
Google and Apple removed the app from their digital stores to comply with the law, which required them to do so if TikTok parent company ByteDance didn’t sell its U.S. operation by Sunday. The law, which passed with wide bipartisan support in April, allows for steep fines.
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The company that runs TikTok in the U.S. said in a post on X that Trump’s post had provided “the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans.”
Some users reported soon after TikTok’s statement that the app was working again, and TikTok’s website appeared to be functioning for at least some people. Even as TikTok was flickering back on, it remained unavailable for download in Apple and Google’s app stores. Neither Apple or Google responded to messages seeking comment Sunday.
The law that took effect Sunday required ByteDance to cut ties with the platform’s U.S. operations due to national security concerns posed by the app’s Chinese roots. However, the statute gave the sitting president authority to grant a 90-day extension if a viable sale was underway.
Although investors made a few offers, ByteDance previously said it would not sell. Trump said his order would “extend the period of time before the law’s prohibitions take effect” and “confirm that there will be no liability for any company that helped keep TikTok from going dark before my order.”
“Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations,” Trump wrote.
It was not immediately clear how Trump’s promised action would fare from a legal standpoint since the U.S. Supreme Court unanimously upheld the ban on Friday (Jan. 17) and the statute came into force the day before Trump’s return to the White House.
Some lawmakers who voted for the sale-of-ban law, including some of Trump’s fellow Republicans, remain in favor of it. Sen. Tom Cotton of Arkansas warned companies Sunday not to provide TikTok with the technical support it needs to function as it did before.
“Any company that hosts, distributes, services, or otherwise facilitates communist-controlled TikTok could face hundreds of billions of dollars of ruinous liability under the law, not just from (the Justice Department), but also under securities law, shareholder lawsuits, and state AGs,” Cotton wrote on X. “Think about it.”
The on-and-off availability of TikTok came after the Supreme Court ruled that the risk to national security posed by TikTok’s ties to China outweighed concerns about limiting speech by the app or its millions of U.S. users.
When TikTok users in the U.S. tried to watch or post videos on the platform as of Saturday night, they saw a pop-up message under the headline, “Sorry, TikTok isn’t available right now.”
“A law banning TikTok has been enacted in the U.S.,” the message said. “Unfortunately that means you can’t use TikTok for now.”
The service interruption TikTok instituted hours early caught many users by surprise. Experts had said the law as written did not require TikTok to take down its platform, only for app stores to remove it. Current users had been expected to continue to have access to videos until a lack of updates caused the app to stop working.
“The community on TikTok is like nothing else, so it’s weird to not have that anymore,” content creator Tiffany Watson, 20, said Sunday.
Watson said she had been in denial about the looming shutdown and with the space time on her hands plans to focus on bolstering her presence on Instagram and YouTube.
“There are still people out there who want beauty content,” Watson said.
The company’s app also was removed late Saturday from prominent app stores. Apple told customers with its devices that it also took down other apps developed by ByteDance. They included Lemon8, which some influencers had promoted as a TikTok alternative, the popular video editing app CapCut and photo editor Hypic.
“Apple is obligated to follow the laws in the jurisdictions where it operates,” the company said.
Trump’s plan to spare TikTok on his first day in office reflected the ban’s coincidental timing and the unusual mix of political considerations surrounding a social media platform that first gained popularity with often silly videos featuring dances and music clips.
During his first presidential term, Trump in 2020 issued executive orders banning TikTok and the Chinese messaging app WeChat, moves that courts subsequently blocked. When momentum for a ban emerged in Congress last year, however, he opposed the legislation. Trump has since credited TikTok with helping him win support from young voters in last year’s presidential election.
Despite its own part in getting the nationwide ban enacted, the Biden administration stressed in recent days that it did not intend to implement or enforce the ban before Trump takes office on Monday.
In the nine months since Congress passed the sale-or-ban law, no clear buyers emerged, and ByteDance publicly insisted it would not sell TikTok. But Trump said he hoped his administration could facilitate a deal to “save” the app.
TikTok CEO Shou Chew is expected to attend Trump’s inauguration with a prime seating location.
Chew posted a video late Saturday thanking Trump for his commitment to work with the company to keep the app available in the U.S. and taking a “strong stand for the First Amendment and against arbitrary censorship.”
Trump’s choice for national security adviser, Michael Waltz, told CBS News on Sunday that the president-elect discussed TikTok going dark in the U.S. during a weekend call with Chinese President Xi Jinping “and they agreed to work together on this.”
On Saturday, artificial intelligence startup Perplexity AI submitted a proposal to ByteDance to create a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.
Perplexity is not asking to purchase the ByteDance algorithm that feeds TikTok user’s videos based on their interests and has made the platform such a phenomenon.
Other investors also eyed TikTok. Shark Tank star Kevin O’Leary recently said a consortium of investors that he and billionaire Frank McCourt offered ByteDance $20 billion in cash. Trump’s former treasury secretary, Steven Mnuchin, also said last year that he was putting together an investor group to buy TikTok.
In Washington, lawmakers and administration officials have long raised concerns about TikTok, warning the algorithm that fuels what users see is vulnerable to manipulation by Chinese authorities. But to date, the U.S. has not publicly provided evidence of TikTok handing user data to Chinese authorities or tinkering with its algorithm to benefit Chinese interests.
The Music Sustainability Alliance announced Friday (Jan. 17) that its Music Sustainability Summit is being postponed amid the ongoing Los Angeles wildfires. Originally scheduled to happen on Feb. 3, the event will now be held on April 16 at L.A.’s Solotech Studios, the same location where it was originally set to take place. Programming for the […]
Led by SM Entertainment and JYP Entertainment, K-pop stocks soared above other music stocks in a strong week for markets in general. SM, home to such artists as Red Velvet and aespa, rose 13.8% to 78,400 won ($53.76) after news broke on Wednesday (Jan. 15) that the company will introduce a new girl group on Feb. 24. Meanwhile, JYP gained 6.7% to 76,400 won ($52.39), while YG Entertainment and HYBE rose 5.6% and 3.7%, respectively.
The gains made by K-pop companies in recent weeks have outpaced the overall Korean stock market. In the week ended Jan. 17, the four South Korean music companies had an average gain of 7.5%, beating the 0.3% gain of the KOSPI composite index, a measure of all stocks traded on South Korea’s exchange. South Korean stocks have rebounded from their low points since a declaration of martial law by South Korea’s prime minister on Dec. 3 that caused political turmoil and instability in the country’s market. The four K-pop companies are up an average of 20.6% from each company’s post-Dece. 3 low point, while KOSPI has gained 6.9% since hitting a low point on Dec. 9.
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The 20-company Billboard Global Music Index rose 4.7% to 2,226.11, its second-highest mark since reaching 2,280.51 on Dec. 6 and the third-highest one-week gain in the last year. Only four of the index’s 20 stocks posted losses while the remainder finished the week in positive territory. Radio companies led the way with an average gain of 13.3%. Multi-sector companies (labels and publishers such as Universal Music Group and Warner Music Group) gained 4.3%. Live music companies followed with a 3.6% gain. Streaming companies had an average loss of 1.1%.
Stocks were helped by news that the consumer price index, a widely used measure of inflation faced by consumers, rose a lower-than-expected 3.2% in December. The producer price index, a measure of wholesale prices, also beat expectations by rising just 0.2% last month. In the United States, the Nasdaq composite rose 2.4% to 19,630.20 and the S&P 500 had its best week since the presidential election, gaining 2.9% to 5,996.66. In the United Kingdom, the FTSE 100 rose 3.1% to 8,505.22. China’s Shanghai Composite Index climbed 2.3% to 3,241.82.
iHeartMedia was the top music performer of the week, rising 23.9% to $2.33 in the absence of major news. The only significant public development was Barclays’s announcement through a regulatory filing on Friday that it increased its stake in the radio giant by 513% in the third quarter. Cumulus Media rose 9.1% to $0.84. The other radio company, satellite broadcaster SiriusXM, gained 6.9% to $22.27.
Spotify shares rose 5.7% to $485.53 on Friday after surpassing $500 per share on Thursday (Jan. 16) — marking only the second time Spotify shares have hit the $500 mark in intraday trading. Investors reacted positively to UBS increasing its Spotify price target on Wednesday (Jan. 15) to $540 from $485. Then on Friday, Wolfe Research downgraded Spotify to “peer perform” from “outperform,” helping Spotify shares fall 1%.
Concert promoter Live Nation rose 5.5% to $135.61. The stock peaked at $136.21 on Friday, its highest point since Dec. 17 and just 3.5% below its 52-week high of $141.18. Live Nation will co-produce the FireAid benefit concerts to benefit victims of the wildfires in Los Angeles. The Azoff family and AEG are also producers of the concerts, which will be held on Jan. 30 at the Kia Forum and Intuit Dome.
Abu Dhabi-based music streaming company Anghami was the week’s worst performer after dropping 10.3% to $0.70, while French music streamer Deezer fell 5.3% to 1.24 euros ($1.28) and LiveOne shares fell 1.7% to $1.18. LiveOne announced on Thursday that it has reached 500,000 Tesla users and projects to reach 550,000 Tesla owners — including 150,000 new ad-supported subscribers — by Feb. 1.