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HarbourView Equity Partners has acquired the master royalty income of renowned jazz guitarist, singer-songwriter and 10-time Grammy Award winner George Benson. Terms of the transaction were not disclosed. In the press release announcing the transaction, HarbourView Equity Partners founder and CEO Sherrese Clarke Soares said, “We maintain a commitment to be a canon for legendary culture […]
Sound Royalties has been a resource for the music industry for 10 years, advancing money to artists, songwriters, producers and other entities against their royalty income streams. And if there is one message that the company consistently emphasizes, it’s that Sound Royalties doesn’t use clients’ music rights as collateral, so it can never secure ownership of those rights.
In Sound Royalties’ parlance, instead of loans, the company primarily provides advances, and recipients of those funds are collectively referred to as “creatives.”
Sound Royalties also makes clear that it doesn’t charge interest; instead, advances come with fixed fees expressed in dollars. The company also doesn’t charge late fees, and a client’s credit rating doesn’t factor into any deals because the advance is repaid from one or more of a client’s income streams.
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Contrary to standard music industry practice, Sound Royalties doesn’t require 100% recoupment from the income streams until the advance is fully paid off.
Depending on the deal, the company may only take some of the royalties of an assigned income stream from one of the creative’s music companies — labels, distributors, publishers or collection rights organizations, which are collectively known as “payors,” according to Sound Royalties — and it will pass through the remainder of income to the client.
Since 2021, Sound Royalties has been owned by GoDigital Media Group and the investment firm MEP Capital.
Alex Heiche, with a background in software for high tech and in special finance firms, founded the company in 2014. As he explains, Sound Royalties is not “a label, publisher or distributor. We don’t replace them; we work in concert with them.
“So when creatives come to us, we provide the financing, but they stay with these excellent companies that they’ve chosen to work with,” he says. “And we’re not taking a percentage of future income. The advance is a fixed dollar amount for a fixed period of time. We’re obsessed with transparency.”
Company executives also emphasize their pursuit of a relationship-based business.
“Part of Alex’s original vision is we really try hard to create relationships,” says Sound Royalties president Michael Bizenov, who joined the company in 2018 after a career in consumer banking and mortgages. “We’re not here just to do transactions. They are important to us, yes, because it’s a way to grow a business. But we want to do it in a very healthy way.”
That’s also why in times of industry turmoil, like during the pandemic, Sound Royalties set up funding pools for cost-free advances to creatives in need.
Also, the company believes in helping creatives beyond financing deals.
“We [meet] with all levels of creative people, including those who may be starting their career,” Bizenov says. “So we’re very committed to doing financial-literacy seminars. We also are talking to the most sophisticated creatives and their business teams and helping them meet their financial goals.”
Clients of Sound Royalties include (clockwise from top left) Tank, DJ Khaled, Rich Robinson, Alejandra Guzmán, Brent Faiyaz, Sonia Leigh and Dylan LeBlanc.
Illustration by Andrei Cojocaru
In the beginning, how did industry companies react to the advances you were proposing?
Alex Heiche: Sound Royalties was launched with the vision to provide artist-friendly funding using creative-friendly funding solutions. So initially, we did advances from [income streams from performing rights organizations] ASCAP and BMI, and then we slowly evolved from there, adding SESAC, and then we started adding publisher, label and distributor transactions. In 2018, we did our first international transaction with PRS [for Music].
Michael Bizenov: Today, we’ve expanded to working in 18 countries and on three continents with over 160 payors around the globe that are sending payments to us to service their clients, and we’re onboarding new [payors] every month.
Did music companies first see you as adversarial to their relationships with their artists and songwriters?
Heiche: Payors see that we’re not taking their clients. We’re not getting in the way of their business. We don’t do distribution, nor publishing; we’re not a label or a collection society. We stay in our lane, providing financing. We’re there to facilitate something and ease the process, so we have good relationships on the payor side and on the creative side.
What’s the source of your funding?
Bizenov: We have bank lines [of credit]. Since early last year, we have more than doubled our access to bank financing. We also self-fund some things out of our profits. And we have access to two additional lines of private capital if we need it.
Did you have bank lines when you started out?
Heiche: No, it started off with funding [from] the balance sheet and growing from there. We pioneered this type of financing and advances. So it took time to build a track record to be able to walk banks through it.
What kind of income streams do you like to focus on when making advances?
Heiche: Creatives are earning a lot of different income streams, and we work with most of them. As the industry continues to evolve, we expanded beyond sound recording and composition [income] and started doing YouTube [income] financing for advances.
We are now even in entertainment production financing. We do tour financing. We even offer bridge financing for creatives looking for a very short-term solution as they’re maybe selling a catalog.
Do you put together custom deals for each client or offer a menu with options?
Heiche: The beauty of our model is it’s a bespoke, white glove customer service. Every creative and every company entity that comes to us for financing gets to speak with a live person that understands what their needs are and develops options for them to review.
You don’t require documentation like tax returns or W2 forms with an application. How else are your advances different from a bank loan?
Heiche: The advance is based strictly on their royalties and projections of those royalties. We provide a one-page summary sheet so they can see the fixed cost in a fixed dollar amount for a fixed period of time. If it takes longer, there are no late fees or penalties. The same if payment comes in sooner.
What are the minimum income streams and maximum advances that you work with?
Heiche: We try to help as much of the industry as we can, and that’s why the bar is as low as it is. Right now, the baseline for both is $5,000 per year per royalty stream. But we go over $10 million for advances.
You’ve said that building relationships is an important part of the Sound Royalties business plan. How does that help grow your business?
Bizenov: A big part of our business comes from referrals, and that’s something that we work hard on. “Customer service” is a mantra in our company because it’s the right thing to do and it also grows the business.
We love the referrals that we get from the managers, business managers, attorneys and companies that are out there. It’s very flattering to us and very reinforcing.
In making advances, how do you calculate risk?
Bizenov: There are probably about 12 or 14 inputs that go into our [analysis]. It’s the things that you would imagine: What is the depth of the catalog? Is 85% of the income coming from two songs — [which] is pretty risky — or is it something that’s more spread out? Is [a work] evergreen and out there for a lot of years so you can trace the performance, or is it something that’s relatively fresh? Based on that, we then come up with a risk analysis and a price.
Does your recoupment come from all streams, or do you choose to be paid back from one or two streams? And do you take 100% recoupment or only a portion?
Heiche: We can focus on specific streams that make the most sense and help a client achieve what they’re trying to accomplish [in terms of cash flow]. Does the client want to pay us back in one year or five years? If it’s five years, for example, we may take less of their income stream per year, or it’s one year we may take more. Either way, the rest [of the income] we pass through to the creative.
What is the average type of advance deal in terms of timeline and recoupment?
Bizenov: We’d rather see somebody do [deals] more conservatively and make sure they get a chance to get their cash flow. That is why we have a very high return rate of customers who come back to us for more than one deal.
As for deal terms, the average is three to five years. We can go longer and we can go shorter, but that’s where the median would lie.
What is the value of advances that Sound Royalties made last year?
Heiche: As a private company, there are some limitations on some data that we can give out.
Can you talk about growth?
Bizenov: Our monthly volume is growing by 50%. We’re pretty proud of our level of growth.
You have also alerted artists and the industry about royalties that weren’t paid to them. How does that play into your business model?
Heiche: When a creative comes through our door, our royalty specialists say, “OK, so you’re a songwriter. Who do you collect your writer’s share from? Who does your publishing or administration?” We just start to have that conversation.
And quite often we find that creatives aren’t collecting on all the income streams that they should be, so then we point them in the right direction. We’re constantly working with creatives ensuring that they understand the various income streams that they’re entitled to receive.
Bizenov: There are nuances. It’s fractionalized, for lack of a better term, because the incomes come from all different directions. So it’s easy for things to fall through the cracks sometimes.
You have said that providing clients with transparency is very important. How else do you show this?
Bizenov: The day before the funding is scheduled to take place, we have a separate department that gets on the phone with the end user and walks through the mechanics of the deal. That team is trained so that if they sense hesitation or lack of understanding, they stop the process to make sure that the creative understands every aspect of how it works, what’s coming, what’s owed.
Our biggest nightmare isn’t not getting a deal; it’s somebody out there saying, “Hey, [Sound Royalties] didn’t tell me everything.”
Are you saying your reputation is more important than doing deals?
Heiche: We’ve developed a reputation through the years of being the good guys, and that’s from things like this independent compliance department having a call with the creative walking through everything to ensure that there’s transparency. If people have great things to say about us, that’s because of our transparency.
This story appears in the Nov. 16, 2024, issue of Billboard.
Spotify is on such a hot streak that the streaming company nearly reached a $100 billion market capitalization this week. After the company’s third-quarter earnings showed cost-cutting has led to record profitability, shares peaked at a new all-time high of $489.69 on Thursday (Nov. 14), briefly putting its market capitalization above $98 billion. However, the stock fell on Friday (Nov. 15) to a final closing price of $458.32, valuing the company at $92.04 billion. While the stock was still up 14.5%, that marked a bit of a letdown from its previous high.
During the height of the pandemic, Spotify benefitted from a rush into streaming stocks as consumers spent more time with audio and visual media. Investors were also attracted to its push into podcasts, which provided an opportunity to improve upon the margins of its core music service. But investors eventually grew tired of Spotify’s growth-over-profitability mantra, sending the company’s share price from $387 in February 2021 to under $70 in November 2021. But a focus on cost-cutting and expansion into audiobooks helped bring investors back; Spotify shares gained 138% in 2023 and have already increased 144% in 2024.
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After delivering solid results and showing investors a pathway to greater profitability, Guggenheim increased its price target for Spotify to $500 from $420 and raised its estimate for 2025 operating profit to 2.5 billion euros ($2.63 billion) from 2.1 billion euros ($2.21 billion). Analysts cited management’s confidence in usage growth and ability to raise prices and further improve margins. Morgan Stanley raised Spotify to $460 from $430, also citing the company’s ability to further raise prices and management’s “commitment to financial discipline and driving profitability.” At JPMorgan, analysts upped Spotify to $530 from $425 for the aforementioned reasons, in addition to the stock’s coming inclusion in the MSCI World Index on Nov. 25.
A bevy of analysts also increased their price targets for Live Nation following the company’s earnings report on Monday (Nov. 11), which showed that the promoter achieved a record adjusted operating income in the third quarter. Among them: Rosenblatt Securities ($146 from $123), Goldman Sachs ($148 from $132), Benchmark ($145 from $108), Evercore ISI ($150 from $110), Oppenheimer ($155 from $120) and Wolfe Research ($152 from $125). Live Nation shares finished the week at $129.00, up 4.9%, and reached a new intraday high of $130.83 on Friday.
Spotify’s big gain was the primary reason the Billboard Global Music Index grew 5.8% to 2,162.50 despite just six of its 20 stocks finishing the week in positive territory. The float-adjusted, unweighted index measures the aggregate market values of the 20 member companies; Spotify is the most valuable company on the index and is more than twice as valuable as the next company, Universal Music Group (UMG). The week’s other five gainers are among the index’s largest companies: Live Nation, CTS Eventim, JYP Entertainment, HYBE and SM Entertainment all have market capitalizations exceeding $1 billion.
Stock markets hit a post-election hangover this week that stalled the gains seen after Donald Trump won the presidential election on Nov. 5. In the United States, the Nasdaq fell 3.1% and the S&P 500 dropped 2.1%. The United Kingdom’s FTSE 100 lost just 0.1%. South Korea’s KOSPI composite index fell 5.6%. China’s Shanghai Composite Index lost 3.5%.
Despite the KOSPI’s decline, K-pop stocks — which have recovered ground in the second half of the year and now have a collective year-to-date deficit of 20.2% — were up across the board. JYP Entertainment gained 8.2%, HYBE improved 3.2%, SM Entertainment added 2.8% and YG Entertainment rose 2.7%.
On the live front, Sphere Entertainment Co. fell 8.6% after its latest earnings showed a slowdown in revenue at its Sphere division, with Macquarie lowering the company’s price target to $45 from $47. And at MSG Entertainment (MSGE), shares dropped 6.8% to $40.00 after Bernstein reduced its MSGE price target to $44 from $45 earlier in the week.
Over at radio, Cumulus Media fell 19.3% to $0.71 after it reportedly conducted layoffs at stations in Central Pennsylvania, Indianapolis, Detroit and San Francisco as part of broader job cuts ahead of the holiday season — all on the heels of recent layoffs at competitor iHeartRadio. Elsewhere music streamer LiveOne dropped 12.4% to $0.78 this week.
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With all apologies to Charli XCX, the 2024 concert season should have been dubbed “VIP summer” for the amount of upselling done by U.S. amphitheaters.
At Live Nation amphitheaters, revenue from VIP clubs was up 19% and VIP ticket premium revenue for major festivals was up more than 20% in the third quarter. Earlier this year, VIP/premium offerings represented 9% of Live Nation’s overall amphitheater business but “should be 30% to 35%,” CEO Michael Rapino told investors in February.
Amphitheaters where Live Nation controls the food and beverage experiences have the potential to deliver more fan spending. Converting an area of grass into a VIP club provides 20% to 30% returns on investment, Rapino explained. At Northwell at Jones Beach Theater, for example, Live Nation took the 15,000-seat venue from no premium offerings to three premium tiers. Of the 40 U.S. amphitheaters in its portfolio, the company could “Jonesify” half of them, Rapino said during an investor call on Wednesday (Nov. 13).
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Diving headfirst into VIP pricing is sure to help Live Nation’s bottom line. The company believes premium offerings can add $200 million in adjusted operating income per year, according to its investor presentation. This year, VIP net per-fan spending will have grown at 20% annually since 2019, well ahead of overall net fan spending growth of 8% annually.
From exclusive lounges to fan meet-and-greets with artists, the concert business has been better than other music industry segments at filtering customers according to their willingness to pay. VIP status became standard practice at music festivals to separate the people who can afford a $400 ticket to camp in a grass field and those who can afford deluxe accommodations, food and beverage, and transportation. The year-old Sphere in Las Vegas takes customer segmentation to a new level: Tickets are relatively expensive for a single concert without considering travel and accommodation — which Live Nation bundles with Sphere tickets through Vibee, a destination experience company it founded in 2023.
It may be ahead of other music companies, but Live Nation is merely following practices familiar to companies such as airlines, which charge more for early boarding, and theme parks, where paying a premium allows you to spend less time standing in line for rides. Insurance companies offer multiple tiers of services that include add-ons such as “accident forgiveness.” Everywhere you look, there’s an expensive option that’s out of reach for most consumers but well worth the value to others.
The wave of upselling now extends to VIP tiers in music streaming. Last week, Tencent Music Entertainment (TME) announced it has 10 million Super VIP subscribers accounting for 8.4% of its 119 million subscribers. Super VIP, launched in the first quarter of 2022, provides such perks as better sound quality, priority access to music content and live event tickets. With a cost five times the normal subscription tier, Super VIP subscriptions helped TME’s average revenue per user increase 5% from the prior-year period. That success with VIP pricing is likely a harbinger of things to come. A single tier may not deliver the kind of profitability investors now demand.
“I think Spotify and the labels, long ago, realized this ‘one price for everybody’ thing gets these companies off the ground, but ultimately it’s not sustainable,” says pricing strategy consultant Rafi Mohammed, who espouses a strategy he calls “good-better-best” and encourages companies to create more valuable tiers of products and services for subsets of customers who are willing to pay extra. “If you’re a company and you’re not doing it, you’re making a mistake,” he says. “There are always going to be higher-end people who are willing to pay more for a more enhanced experience.”
With the current music streaming model relatively unchanged for two decades, music companies are increasingly engaging in the kind of customer segmentation taught in business schools. Companies that want to deliver strong, sustained growth are looking at ways to provide more valuable — and more expensive — experiences to those customers willing to pay for them.
Record labels are itching for a high-priced streaming subscription tier that would produce greater royalties. Spotify’s VIP tier — for lack of a better term — seems all but inevitable at this point. In September, Universal Music Group (UMG) COO (then CFO) Boyd Muir said the company was in “advanced talks” with the streamer for a high-priced tier that offers a better user experience than standard subscription plans. Spotify CEO Daniel Ek lifted the veil on a pending VIP plan in July, saying it would “probably” be priced at $17 or $18 per month and provide subscribers with “a lot more control, a lot higher quality across the board, and some other things that I’m not ready to talk about yet.”
UMG has said that internal market research shows 23% of subscribers would be willing to pay more for a VIP experience. But Will Page, Spotify’s former chief economist, isn’t sure Spotify is ready for a VIP tier. “It needs to walk before it can run towards a VIP platform,” he says.
Since the days of pre-Spotify subscription services such as Rhapsody, the basis $9.99 (in the U.S.) price was raised only recently but hasn’t kept pace with inflation. Spotify launched in the U.S. in 2011 and didn’t raise the individual premium price to $10.99 until 2023. Had the price kept pace with inflation, that $9.99 tier would have cost $13.50 by the time the price hike took effect. While video-on-demand streaming platforms such as Netflix have consistently raised prices over the years, music platforms like Spotify refrained, keeping their prices unchanged for fear higher prices would stunt their growth. “I would love to see the industry earn its stripes in showing pricing power before it goes to base two, which is market screening power,” says Page.
In the meantime, the music business has other ways to cater to VIPs, including a new slate of “superfan” platforms and vinyl records. Vinyl mimics a VIP strategy by upselling fans to an expensive physical item over low-value online streaming. And just as film studios use a so-called “windowing” strategy by releasing movies to theaters before streaming platforms, artists and labels are increasingly selling vinyl LPs ahead of their streaming street dates — a strategy that’s been largely absent in music since 2016. To Page, artists and labels are missing a big opportunity by not using vinyl to create a VIP release window.
“In America alone, vinyl is going to be a billion-dollar business,” says Page, “and the people who can sell it are the types of artists who would appeal to a VIP strategy.”
Taylor Swift began her two-week Eras Tour run in Toronto Thursday night (Nov. 14), and the city is going all out.
Before she hit the stage, footage circulated of her arriving with a whole police cavalcade on the Gardiner Expressway – which is normally filled with traffic during rush hour.
There were plenty of Swifties seen following the Taylor Swift Way signs throughout downtown. Only ticketholders could get near the Rogers Centre before the show – including the city’s unhoused population, who were cleared from encampments and compelled to move to shelters.
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An official Taylgate event took place at the nearby Metro Toronto Convention Centre with photo ops, silent discos and friendship bracelet making stations. A similar “Swift Station” activation offered similar experiences on Queen Street while decked out to look like a subway station.
News stations broadcast live from outside the stadium throughout the night, while Swift took the stage inside. Stories abounded about fans who tried and failed to get tickets, or who ended up getting scammed (the Canadian Anti-Fraud Centre issued warnings as they were overloaded with complaints). Ticketmaster did, however, release some last minute tickets on the day of the show, though they were gone quickly.
Inside at the concert, Taylor Swift made some nods to the Canadian crowd. “Doesn’t it seem like the entire Folklore era just belongs in Canada?” she asked before launching into that section of the show. “The place that I envisioned in my mind where Folklore took place, it’s very natural, wilderness, beautiful, forests that have been there since the beginning of time. And it just kind of feels like we’re returning the Folklore era to where it belongs anyway.”
Her dancer, Kam, also added a Canadian touch during “We Are Never Ever Getting Back Together,” with an exaggerated “Soorry aboot it!” during his line.
There are two more Eras Tour shows this weekend, on Nov. 15 and Nov. 16, before she returns to Rogers Centre next week for shows on Nov. 21, 22 and 23. – Richard Trapunski
Canadian Songwriters Earn Grammy Nominations for Beyoncé’s Cowboy Carter
The 2025 Grammy nominations were announced last week, and Beyoncé leads the list — along with her Canadian collaborators.
“Texas Hold ‘Em,” co-written by three Canadians, has been nominated for two of the biggest awards, Record of the Year and Song of the Year.
Writers Nathan Ferraro, Lowell, and Megan Bülow all picked up nominations for Song of the Year, which is awarded to the writers and composers behind the track, as well as Best Country Song. Ferraro talked with Billboard Canada earlier this year about his Canadian writing team.
“[The collaboration] works well for us,” Ferraro told Billboard Canada. “We’re such good friends and we know each other’s strengths and weaknesses. I think we all have a lot of mutual respect, so we have a lot of confidence together and that allows us to take risks.”
Lowell, meanwhile, won the inaugural Billboard Canada Non-Performing Songwriter Award this summer.
Beyoncé’s country album Cowboy Carter is also nominated for Album of the Year with Canadian Dave Hamelin (formerly of Montreal indie rock band The Stills and now a regular collaborator with 070 Shake) named in the nomination for his work as a producer and songwriter across the album.
In total, Beyoncé picked up a whopping 11 nominations for her history-making Cowboy Carter, which features a slew of Canadian contributions.
Serban Ghenea, meanwhile, racked up the highest number of Canadian nods: a grand total of five nominations, for his work with a trifecta of pop stars: Sabrina Carpenter, Taylor Swift, and Ariana Grande.
Other Canadian nominees included The Weeknd, Kaytranada, Charlotte Day Wilson, Spiritbox and Cirkut, for his work on Charli XCX’s cultural phenomenon, Brat.
Read about all the Canadian nominees here. –Rosie Long Decter
Quebec Government Pursues Action Against Ticket Resale Site Billets.ca
The Quebec government is taking action against ticket resales.
The province’s Office of Consumer Protection announced Wednesday, Nov. 13, that the Director of Penal and Criminal Prosecutions has served 26 statements of infraction to Billets.ca.
If proven guilty, each infraction could merit a fine between $2,000 and $100,000 for the company, and between $600 and $15,000 for President Éric Bussières.
The Office is accusing Billets.ca of reselling tickets at higher prices than those advertised by authorized salespersons. It also charges that the site is reselling tickets it does not possess. The infractions took place between November 2022 and September 2023.
Ticket resales have become an increasingly hot topic in the industry. Ticketmaster issued a warning in advance of Oasis’ North American tour dates going on sale, advising consumers not to trust resale sites that were already advertising tickets. The ticketing giant has also faced allegations in the past of working with resale sites.
Earlier this year, over 250 artists signed a letter titled Fix the Tix, addressing American legislators. “Predatory resellers have gone unregulated while siphoning money from the live entertainment ecosystem for their sole benefit,” the letter stated.
Quebec’s Loi sur la protection du consommateur forbids sellers from boosting prices during resales without express permission from the original authorized vendor. It also prohibits the use of technology to bypass controls on obtaining tickets. Sites like Billets.ca have often skirted these rules by acting as a broker for individual sellers, instead of selling the tickets themselves.
Quebec music association ADISQ welcomed the news.
“It’s a relief to see charges finally laid against Billets.ca and the practice of fraudulent ticket resale,” says Eve Paré, Executive Director of ADISQ, in French.
ADISQ states that it has made numerous complaints to Quebec’s Office of Consumer Protection regarding unauthorized ticket resales.
ADISQ notes that it is also eagerly awaiting the outcome of a class action lawsuit filed against Billets.ca on October 13, 2023. –RLD
Welcome to an overflowing edition of Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music.
Read on for mostly good news and don’t forget to nominate an impactful executive for our Power 100 Players’ Choice Award, plus peep our weekly interview series spotlighting a single c-suiter and our helpful calendar of notable industry events and confabs.
Universal Music Japan named Shintaro Aki as managing director of EMI Records Japan. Reporting to UMJ president and CEO Naoshi Fujikura, the Tokyo-based executive brings over two decades of industry experience, including a successful tenure at Warner Music Japan, where he rose to senior executive producer. While at Warner, he notably spent seven years as head of Creative Room 1 (now known as Prescribe), the label home to Aimyon, Chanmina, Campanella and others. Over the course of his career Aki has played a pivotal role in developing artists like Superfly, whom he has A&R’d since 2007, Ulfuls, Ges no Kiwami Otome, WANIMA and THE YELLOW MONKEY, among others. Fujikura praised Aki’s proven track record for producing hits and strong relationships with artists, adding, “We look forward to EMI Records, which already has a long history and a broad roster of artists, continuing to shine under Mr. Aki’s new leadership.”
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Warner Music appointed Darina Connolly as general manager of Rhino UK, where she’ll report to Dirk Ewald, WMG’s svp of global catalogue, and Isabel Garvey, Warner Music UK’s COO. Connolly will lead marketing efforts for iconic Rhino artists like David Bowie, Fleetwood Mac, Madonna and Prince, among others. Formerly head of music partnerships at TikTok, Connolly has also held key roles at Apple Music, Sony Music, and MTV, where she managed projects with artists such as AC/DC and John Legend. A strong advocate for diversity — spot her in Billboard’s 2024 Music Industry Pride list — Connolly developed inclusion initiatives including Apple Music’s Elevate program and TikTok’s #queersounds campaign. Connolly is enthusiastic about enhancing Rhino UK’s legacy, while Ewald and Garvey anticipate her positive impact. This appointment follows the departure of Tom Gallacher, who relocated to Scotland after ten years with Rhino UK.
John Storey joined CAA as chief financial officer, bringing nearly 20 years of experience in corporate development, strategy and finance to the talent agency. Storey previously served as president of finance and operations at Asurion, a leader in smartphone insurance. CAA president Jim Burtson highlighted Storey’s expertise in strategic planning and operational efficiencies, which align with CAA’s objectives to expand internationally. “His accomplishments in building for growth match well with our ambitious goals,” Burtson said. Storey, whose background includes five years as Asurion’s CFO and previous roles as a research analyst and investment banker, said CAA is “clear in its vision to create limitless opportunities for its clients and employees” and that he looks forward to achieving those goals.
Meghan Cassin | SXSW
South by Southwest appointed Meghan Cassin as senior vp of content, aiming to strengthen its focus on content to support creatives and broaden community engagement. Cassin, with 17 years of experience in global media, previously served as vp of content at Warner Bros. Discovery, where she led content initiatives for platforms such as Nat Geo Wild, Disney Plus and Max. Jann Baskett, SXSW co-president and chief brand officer, expressed enthusiasm about Cassin’s appointment, noting her passion for storytelling. “With new ideas around content and an audience-first approach, we know she’s the right executive to spearhead our efforts,” she said.
Downtown Music Publishing promoted Jedd Katrancha to chief creative officer, where he will direct the company’s A&R, business development, sync and other creative-y strategies. A Downtown veteran since its start in 2007, Katrancha aims to expand exposure and revenue for Downtown’s catalog by aligning creative efforts to capture new opportunities across various markets. Katrancha will also lead efforts to forge strategic partnerships, helping to unlock the potential of Downtown’s catalog, which spans legacy artists like John Lennon and Miles Davis to recent signings such as Colbie Caillat and Peso Pluma. Downtown president Emily Stephenson praised Katrancha’s “dedication to fostering and executing impactful creative strategies for our artists and business clients.”
Gamma, the Larry Jackson-founded media and entertainment company, announced two key hires this week: Mike Hamilton as senior vp of commercial partnerships, and Casey Compernolle as vice president of A&R and digital strategy. Hamilton, formerly svp of commerce at Def Jam Recordings, will manage relationships with digital service providers for gamma artists, while Compernolle, previously a top playlist programmer and emerging artist advocate at Apple Music, will focus on artist development and digital strategy. “What gamma. has accomplished in under two years is nothing short of remarkable,” said Hamilton. “As independent companies continue to dominate our industry, I am honored and excited to join such a talented & impactful team.” Compernolle added that she’s stoked to “help develop the industry’s next wave of independent talent alongside a phenomenal roster of artists and an incredibly talented group of creatives.”
Opry Entertainment Group named Gary Scott as chief operating officer. Scott joins OEG from Ridgeline Hospitality Group, where he served as principal/owner and provides counsel to clients in sectors including hotel, gaming, food/beverage and hospitality. His career also includes time at Virgin Hotels Las Vegas, Hard Rock Hotel & Casino, and MGM Resorts/The Mirage Hotel & Casino. Opry Entertainment Group’s portfolio of venues includes the Grand Ole Opry, Ryman Auditorium, the Blake Shelton-inspired Ole Red, ACL Live at Moody Theater and Luke Combs’s Category 10. –Jessica Nicholson
NASHVILLE NOTES: 2911 Media promoted Scott Sexton from director of publicity to vice president of publicity. My top priority has always been to help our clients reach their full potential, and that will never change,” he said … The Familie added artist manager Emma Kyes to its Nashville music division. Kyes brings Sadie Bass to the Famile fam after securing deals for the singer-songwriter, including with WME and Sony Music. Royce Risser, The Familie’s evp of music, praised Kyes’ “drive and commitment” as “extraordinary.”
Matt Morgan, a former senior marketing executive at Atlantic Records UK, is the new creative marketing director at Trade Secrets Management, which represents Teddy Swims. Morgan, who joined Atlantic last November, played a pivotal role in the global success of Swims’ “Lose Control” campaign, which garnered hundreds of millions of views and established Swims in the UK market. Morgan, who also manages Amelia Dimoldenberg, Reggie Yates and Dynamo, signaled enthusiasm for continuing his work with Swims and the Atlantic team in his new role. His appointment is expected to enhance Swims’ presence and expand the reach of Trade Secrets Management’s creative marketing strategies. “Matt is one of the most creative and talented marketing minds I’ve had the pleasure of working with”, said Luke Conway, director at Trade Secrets Management. “His unique and impactful campaigns have been instrumental in breaking Teddy in the UK. We’re thrilled to welcome him to the Trade Secrets team.”
Leftbrain named Larry Tyler as a business manager, where he’ll lead a team serving a diverse range of industry clients, from indie artists to major label stars. Tyler brings over 13 years of experience from NKSFB Business Management, where he rose to partner, and has previously held roles at Gursey|Schneider LLP and GSO Business Management, specializing in tour finances and client relations. Founder and CEO Nicholas Judd said that Leftbrain, now in its sixth year, is busy expanding its mission after initially focusing on business management for musicians through tech. “Now, we’re expanding our mission by partnering with like-minded business managers,” he said. “Larry’s legendary experience and vision make him a perfect fit for our team, and we’re excited to show what’s possible together.”
ALL IN THE FAMILY: Nicole Morano is the new associate vice president of communications at Penske Media, where she’ll oversee PR and communications for New York-based brands like this one, Rolling Stone and Sportico, as well as SXSW events in Austin, Sydney and London. Based in NYC and reporting to Brooke Jaffe, svp of public affairs and strategy, Morano will also support Penske Media’s New York executive teams, including licensing. Morano was previously director of corporate communications at Condé Nast and earlier in her career handled publicity at Penguin Random House.
Michelle McCarthy officially cut the ribbon on MCC Marketing Group, a New York-based agency specializing in live entertainment and sports marketing. The agency aims to create strong connections between artists, brands, and audiences through strategic campaigns for concerts, festivals and other events. With over 15 years of experience, McCarthy previously led marketing at Madison Square Garden and Radio City Music Hall, handling major events like Billy Joel’s residency and Harry Styles’ sold-out shows. In 2024, MCC Marketing Group successfully promoted the “Rock the Country” festival series featuring Kid Rock and Jason Aldean, and David Gilmour’s “Luck and Strange” U.S. Tour, achieving sold-out shows.
RADIO, RADIO: Jeff Littlejohn, iHeartMedia’s longtime executive vp of engineering, is retiring after 32 years. Steve George will now oversee technical operations for iHeart’s 860 local stations. Additionally, Oklahoma svp of programming JJ Ryan will expand his role to include Arkansas, Kansas and Missouri, as part of iHeart’s regional leadership restructuring. This change follows the layoff of Greg Chance, who had overseen programming for more than 20 stations … Audacy promoted Kieran Geffert as its new market manager in San Francisco, overseeing a portfolio that includes 95.7 The Game, Alice @ 97.3 and 102 Jams, among others.
ICYMI:
Greg Maffei
Liberty Media announced that longtime president and CEO Greg Maffei will step down at the end of the year, with chairman John Malone sliding in as interim CEO … Ikenna Nwagboso, the co-founder of label services and partnerships at emPawa Africa, will exit the company in January … and former MNRK Music Group president/CEO Chris Taylor officially opened the doors on Hall of Fame Artists. [KEEP READING]
Last Week’s Turntable: WCM Irons Out Head of A&R in Amsterdam
UnitedMasters extended its existing synch agreement with the National Football League (NFL) through the end of the 2027 season. The deal will expand UnitedMasters’ existing track delivery, allowing the NFL to continue providing music to its fans at games and across NFL programming via UnitedMasters’ fully-cleared synch library. Through the deal, NFL Member Clubs will have the opportunity to explore additional licensing packages, allowing them to create “hyper-local experiences,” according to a press release.
Warner Music India made a minority investment in India-based live entertainment and ticketing platform SkillBox, which has worked on tours for Jacob Collier, Steve Vai, Ben Howard and more and established intellectual properties including Bloomverse, K-Wave, Lemonade and LiveBox. “By integrating live events and ticketing into its portfolio, Warner Music India will offer its artists the ability to reach wider audiences, while fans will benefit from streamlined, unforgettable live music experiences,” states a press release. SkillBox, which also boasts an artist management arm called LevelHouse, boasts 1.5 million users.
Music licensing company Soundstripe is partnering with Orfium, Tuned Global, Music Reports and Cyanite to build a “click-to-license” platform for the music business that will offer pre-cleared music, with a full rollout expected for spring 2025. “Through these partnerships, Soundstripe connects several elements of licensing, which have long been separate,” reads a press release. Orfium’s SyncTracker product will ensure that all licensed music has been cleared when a video posts to platforms including YouTube, while Tuned Global will manage content delivery and asset management on the recording side and Music Reports will cover the publishing side. Meanwhile, Cyanite’s AI-driven technology will allow Soundstripe to tag and search music at scale.
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Audacy launched its first FM broadcast station with Super Hi-Fi, a leader in AI-powered radio services for broadcast and digital media companies. From Oct. 31 onward, Denver’s Front Range Country 103.1 will be powered by Super Hi-Fi’s AI-powered platform and toolset, including its program director radio operating system, which manages music curation content, ads, scheduling, voice tracking and station playout tasks.
Streaming service Deezer signed DAX, an advertising exchange from Global, as its exclusive ad sales partner in the U.S. for audio advertising. DAX previously pacted with Deezer in the U.K.
Leading Asian music company Kanjian struck a deal with AI rights management company Musical.AI to provide AI companies with access to its fully licensed music catalog for AI training. According to a press release, Kanjian’s catalog is entirely pre-authorized for AI applications.
Levellr, which helps artists use messaging tools including Discord and Telegram to reach fans, raised $1.75 million in funding from a group of gaming and media industry leaders including Dylan Collins (SuperAwesome, Jolt, Demonware), Mitch Lasky (former Benchmark and Discord board member) and Owen Mahoney (former Nexon CEO), along with senior execs from companies like Krafton, Riot Games and Amazon. The company also announced that Collins will join the company as chairman.
Redeye Worldwide, a leading independent digital and phsyical distribution and music services company (and part of the Exceleration Music family), signed a strategic agreement with Lasgo Worldwide Media to provide physical fulfillmemnt services in the U.K. and Ireland. Additionally, Redeye will consolidate its European Union physical operations through an expanded one-stop agreement with Netherlands-based pan-European provider Bertus, allowing Redeye clients to broaden their sales and marketing reach across Europe. Redeye’s Swedish subsidiary, Border Music, will continue servicing the Nordic markets.
Alt-rock pioneers the Pixies and Tickets For Good, which provides free and heavily discounted tickets to live events, announced a new partnership through which the band will donate tickets to Tickets For Good across the platform’s global network for every date on their upcoming 20-date tour in Europe and North America next year. The partnership includes tour dates that are sold out, giving registered Tickets For Good members an opportunity to gain special access via a dedicated ballot.
Indie music company Anthem Entertainment and Wax Records struck a creative partnership that will focus on “enhancing the relationship between publishing and creative, facilitating a seamless channel for songwriters and artists to produce viable projects,” according to a press release.
AI-powered music and audio technology company Mus.ic.AI is integrating its AI tools into digital asset management and monetization platform SourceAudio. Under the deal, 567,000 active SourceAudio users will be provided with AI-powered stem separation.
Virgin Music Group announced a strategic agreement with Tokyo-based Bushiroad Music, a division of games and anime producer Bushiroad Inc. Through the deal, Virgin will support the expansion of Bushiroad Music’s overseas business through digital music distribution, including theme songs for Bushiroad’s games, anime series and films.
That warm, impish smile. Infectious laugh. Eyes that literally twinkled as he talked about music and life. Those were the first things that came to mind after learning of Quincy Delight Jones’ death on Nov. 3. And how lucky I was to get the chance to chat several times with someone who truly personified every sense of the word “legend.”
It just so happened that the day before Jones died, I was cleaning out some old files and came across the yellowed pages of the first interview I ever did with him when I was an editor at the trade publication Radio & Records. It was November 1984: two years after Michael Jackson’s seismic success with Thriller in 1982 and a year before pulling an epic all-nighter with Jackson, Lionel Richie and a collection of music superstars to record “We Are the World.” When I interviewed him for a special Radio & Records feature, “Master of Music,” the perpetually multitasking Jones was co-producing, with director Steven Spielberg, the film adaptation of Alice Walker’s Pulitzer Prize-winning novel, The Color Purple.
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“The primary motor of pop music, as we know it today, has always been Black music,” he told me then before pulling back the curtain on his creative strategy. “The one thing I fight for is the selection of tunes,” he said. And he was way ahead of the industry’s globalization, shouting out Africa as a music “gold mine” and, in subsequent chats, South Korea and Indonesia.
Rereading the interview all these years later, it also shows Jones was more than just a creative wunderkind. He was insatiably curious, always searching for the next. Given the advent of computers at the time, he spoke about the “archaic record distribution system,” while presciently envisioning that “it could be possible in five years for you to have no inventory in your house; no records, tapes, anything. If you had access to a satellite, a code book/catalog and a television set, you could punch up anything you wanted anytime.”
A few weeks after that interview was published, I learned what a thoughtful and humorous person Jones was as well. One of my treasured mementos is a signed personal note card of thanks (stamped with an embossed “Q” in the upper left-hand corner): “With the great editing you did, I was made to look like I know what I’m talking about.” Such a simple but impactful gesture.
That was just one facet of Quincy Jones. Born in Chicago and raised in Seattle, he jumpstarted his estimable legacy as a big band- and jazz-loving trumpeter who, beginning at the age of 14, played for Billie Holiday and Billy Eckstine. After a year on scholarship at the Berklee College of Music, he toured with Lionel Hampton’s band, adding “pianist” and “arranger” to his résumé. Within a few years, he was working with Dinah Washington, Duke Ellington, Count Basie and Tommy Dorsey. In 1957, he joined Mercury Records as an A&R director and later vice president, becoming the first Black senior executive at a major label.
Best friends with Ray Charles since their teen years in Seattle (“He taught me my first music in braille”), Q — a nickname given to him by Frank Sinatra — arranged Brother Ray’s classic albums The Genius of Ray Charles and Genius + Soul = Jazz. He went on to discover and produce “It’s My Party” and other hits for early 1960s pop darling Lesley Gore, while simultaneously earning the first of his eventual 28 Grammy Awards and 80 nominations for arranging Basie’s “I Can’t Stop Loving You.” And there’s no forgetting Jones’ momentous collaborations with Basie and Sinatra, which produced the timeless romantic romp “Fly Me to the Moon.”
Thanks to the initial unwavering support of actor Sidney Poitier and filmmaker Sidney Lumet, Jones racked up credits for film scores to In the Heat of the Night, The Wiz, The Italian Job and The Color Purple, as well as TV series Roots and theme songs for Ironside and Sanford and Son. Jones’ own musical output was prolific and demonstrated a rare talent for evolving with contemporary music. Signing with A&M Records in 1969, he released the Grammy-winning instrumental jazz set Walking in Space that year, which sparked further forays into jazz, funk, R&B, pop and dance through 1981, with albums such as Body Heat, I Heard That!, Sounds … and Stuff Like That!! and The Dude, the last of which introduced newcomer James Ingram (“Just Once”).
Jones’ work with Jackson is well known, but his innate ear also brought other hit-makers to the forefront, such as George Benson, Patti Austin, Tevin Campbell and Tamia, through his Warner joint venture, Qwest Records, which he founded in 1980.
In the latter part of his career, Jones ventured into media that explored and celebrated Black culture and music. He produced The Fresh Prince of Bel-Air, which made Will Smith a bankable star, and launched Vibe as both a magazine and talk show.
After various encounters at industry events over the ensuing years, I got the chance to interview a still-indefatigable Jones — who survived two brain aneurysms in 1974 and a diabetic coma in 2015 — for Billboard during his 80th and 85th birthday celebrations in 2013 and 2018. His gait was more measured and later, he began making his rounds in a wheelchair. But his musical and entrepreneurial drive had not slowed: He established an artist management consultancy, partnered with Harman on a line of AKG headphones and squeezed in time to write his 2001 autobiography, Q.
On both occasions, we sat in the screening room of his home in Bel-Air, Los Angeles. It was decorated with vintage posters of the films he had worked on, and its hallway walls were jam-packed with Jones-produced album covers and autographed sheet music for “We Are the World.” Display cases held his 28 Grammys.
Having traded wine for protein-rich smoothies at this point, Jones discussed such topics as co-founding Qwest TV, the first subscription, video-ondemand service for jazz, and how music had substituted for the absence of his mother, who was hospitalized for mental illness when he was 7. It had served him well.
Never content to stay the course, Jones kept evolving from musician, arranger, composer and producer to label owner, artist manager, mentor, business entrepreneur and global ambassador. As he declared in 1984, “If I had 200 more years, I still wouldn’t have enough time to do all the things I dream about.”
This story appears in the Nov. 16, 2024, issue of Billboard.
Canadian Music Week is undergoing a major identity shift.
For the first time since 1982, the music festival and conference will have a new name: Departure. The newly-christened Departure Festival + Conference will take place from May 6-11, 2025.
Loft Entertainment and Oak View Group (OVG) bought the festival from retiring founder Neill Dixon this year. They announced the changes in a cocktail reception on Tuesday (Nov. 12) at the festival’s new Toronto headquarters, Hotel X.
“Departure honours where we’ve come from and celebrates where we are going,” said Kevin Barton, executive producer at Loft Entertainment. “We’re creating a launchpad that opens doors to deeper, more inclusive conversations and showcases the richness of Toronto’s cultural scene, celebrates Canadian creatives, and welcomes global artists.”
In speeches and a fireside chat, Barton along with Loft co-founder Randy Lennox and chief operating officer Jackie Dean joined OVG Canada president Tom Pistore to share the new vision for the festival.
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Lennox and Barton pointed to the ambition of the event, which will expand to include comedy, tech and food in year one — plus film, fashion and other subjects in the near future. They will take big swings, which might mean they may have misses along the way, they acknowledged.
This year’s festival will include a songwriter showcase, comedy performances, food trucks, and a new app and digital infrastructure.
The goal with Departure is to expand and modernize, they said, while honouring the history of Canadian Music Week. Next year, they will honour CMW’s former leader Neill Dixon with a lifetime achievement award.
Comedian Russell Peters opened with his own less rehearsed speech, and shared his hopes for the festival. He’s both a comedian and a DJ, but says he and his friends had avoided CMW in the past “because it was soup — full of crackers.” He joked that the festival’s idea of diversification was Kardinal Offishall and that’s it.
Barton stressed an inclusivity mandate and said they have been meeting with different equity-seeking communities in the Canadian arts industry. Over 160 languages are spoken in Toronto, and the goal is to represent that multiculturalism.
Pistore said Departure is part of the Denver-based Oak View Group’s expanded footprint in Canada, which includes new hires and a $280 million project to transform an arena in Hamilton, Ontario. There is an ambition to be bigger, “but rooted in a Canadian foundation.”
The response on social media and at the industry event was mixed. Some were optimistic for the long-running conference to change and evolve and provide a bigger platform for Canadian artists. Others hoped that the new ownership, including the American Oak View Group, and removal of “Canadian” from the name, will not sacrifice the Canadian identity or the focus on the homegrown industry.
Karan Chahal is a music and business lawyer and agent at LSC Law. A former musician and engineer himself, he now works with independent artists, especially in Punjabi music, including producer Deep Jandhu.
Chahal has been attending CMW for years, and credits it as one of the most important conferences in Canada. He especially appreciated last year’s edition, which included a spotlight on India’s music industry and Punjabi music in Canada, he says.
“It’s an amazing platform, because everyone there is there for the same reason: music,” he says. “The music industry in Canada is still growing, and artists need support. There’s so much incredible talent here, and CMW is a spot where the artists, the labels, the agents can gain those relationships in the industry.”
Chahal’s hope is that Departure’s expanded focus into other areas will not dilute the support for music, specifically.
“I think we need more eyes on it, we need to grow it. More strategic individuals getting involved is only going to help,” he says. “I just hope we aren’t going to lose what it initially stood for, and will uphold the duty to support the culture.”
Rudy Blair is an independent music journalist and interviewer who has been covering Canadian Music Week for nearly 30 years. Over the past few years, he’s also worked for the festival under Dixon as a conference host.
Blair says the new name will take some getting used to, but he thinks the growth can only be a good thing.
“We always have to move forward, and as long as it shows respect for what came in the past, change is a good thing,” he says. “Moving forward, looking at things differently, presenting things differently, that always needs to happen. Departure is part of that evolution.
“The mandate from day 1, 42 years ago, to 2025 is the same,” he continues. “It is all about fans, artists, educating people, and making sure the rest of the world knows that Canada has some of the best talent in the world. As much as they’re looking at other things, I hope they keep the dream Neill (Dixon) had, which is promoting Canadian talent.”
This story originally was originally published by Billboard Canada.
Anthem Entertainment has acquired a “wide” selection of songs from Darell‘s catalog, the company tells Billboard. Included in the deal is the urbano superstar’s star-studded “Te Boté (Remix)” with Casper Mágico, Nio García, Nicky Jam, Ozuna & Bad Bunny, which peaked at No. 36 on the Billboard Hot 100 in 2018 and ruled the Hot Latin Songs chart for 14 weeks.
Additional Darell songs that are part of the acquisition include “Otro Trago” with Sech and “Asesina” with Brytiago, along with tracks featuring Jennifer Lopez, Rauw Alejandro, J Balvin and more.
The Darell catalog acquisition further boosts Anthem’s presence in the Latin music space. The indie music company’s publishing catalog also includes an array of hits by Latin acts such as Pitbull, Karol G, Farruko, Camilo and Ricky Martin.
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Also on Wednesday (Nov. 13), Anthem also announced that industry veteran Victor Mijares has been appointed as the company’s first vp of Latin music and will “work closely” with Anthem’s acquisitions team to “source and evaluate investment opportunities in the Latin market,” according to a press release.
“We are excited to welcome Victor as Anthem’s first-ever Vice President of Latin Music,” Anthem CEO Jason Klein said in a statement. “With his deep expertise in Latin music and culture, alongside his extensive industry experience, Victor will play a crucial role as we expand our presence in this vibrant and rapidly growing market. Under Victor’s leadership, Anthem’s acquisition of this extraordinary catalog of songs from Darell is a significant step in our strategy to invest in exceptional Latin music, further diversifying and enriching our already impressive catalog of songs.”
“I am honored and thrilled to have joined Jason Klein’s outstanding team and to contribute to Anthem’s Entertainment’s continuing success,” Mijares added. “I believe that the potential to grow our business in the Latin sector is open-ended. We have the passion, commitment, and resources to shape exciting opportunities for our partners. The acquisition of a large portion of Darell’s catalog is a very important step for us as a company as well as for the Canadian music industry. We are delighted to add Darell’s masterful works to our growing repertoire.”
Darell was represented in the deal by Angie Martinez, Esq., Denny Marte at MPA Advisors, LLC and Eddy Perdomo at EPM Entertainment.