Business News
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Mellomanic, formerly known as We Are Giant, has closed a $6 million funding round, raising its total capital to $13.8 million. Backed by investors including Sterling Partners and other industry veterans, this funding will support the platform‘s expansion and enhancing its music experience offerings for artists and fans. Known for exclusive listening parties and digital events, Mellomanic provides a community-centric space for artists and superfans to connect. With over 400,000 monthly active users — a 13,000% increase since January — the platform has attracted partnerships with major labels such as Atlantic Records, Def Jam, Sony Music Nashville and Virgin Music Group. Its genre-focused “Collectives” — think “We Are Hip Hop,” “We Are Pop” and “We Are Country” — feature listening parties, live streams, and virtual festivals, with artists like Kameron Marlowe, JXDN, Jordy and Big Sean already participating. Mellomanic allows artists to monetize their work and access unique fan data to make informed career decisions. The platform secures music licenses for live streams, ensuring streams count toward traditional metrics tracked by SoundExchange and PROs.
“We’ve learned so much about music communities and fan behaviors this past year, and wanted our name to reflect that. ‘Mellomanic’ pays homage to the melomaniacs, all types of superfans, embodying the spectrum of emotions that exist within different genres of music and their listeners,” said CEO Andy Apple. “It’s been exciting to watch artists and labels leverage our immersive listening parties to release music in exciting, innovative ways, and it’s been special to see superfan communities engage in these live digital experiences that truly range from mellow to manic. Ultimately our goal is to continue providing impactful spaces for fans and artists to come together and celebrate special moments, empowering them to forge enduring relationships while building sustainable communities.”
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Sony Music Entertainment and Crux Global formed a strategic partnership to elevate Ghana’s music industry by offering support to artists at various stages of their careers. The collaboration provides three tiers of assistance: distribution for independent artists through The Orchard, comprehensive full-service support under Sony Music Africa for select artists, and a catalog music tier aimed at preserving the work of renowned Ghanaian musicians on digital platforms. The partnership will be headquartered in Accra, Ghana, which will serve as the hub for artist development, distribution and catalog management. Sean Watson, managing director of Sony Music Africa, will lead the initiative, supported by Christel Kayibi and Jean-Sebastien Permal.
Sony Music Entertainment Vietnam partnered with Great Entertainment, a leading Vietnamese music label, to acquire distribution and marketing rights for its catalog and frontline releases. This collaboration aims to boost the international presence of Great Entertainment’s top-charting artists, including B Ray, Quân A.P, Masew, Khanh ICM, and Khoi Vu. Several releases are scheduled as part of this partnership: Masew, known for hits like “Thiêu Thân” and “Túy âm,” will release a new album in October 2024. Quân A.P, famous for “Bông hoa đẹp nhất” and “You Are My Crush,” will drop new singles in early 2025, while rapper B Ray will also be releasing music soon. Sony Music Vietnam’s roster features popular local stars like Đức Phúc and Hoàng Thùy Linh. “This partnership marks a significant milestone for Sony Music Entertainment Vietnam as we continue to support and elevate the incredible talent emerging from Vietnam’s vibrant music scene,” said Angela Pong, GM of SMEV.
Universal Music Group and Tuned Global expanded their partnership through a global licensing agreement, granting Tuned Global clients access to UMG’s vast catalog of recorded music. This enables clients to use music from top artists in their projects, with integrated technological and licensing support provided by Tuned Global, a leading B2B music and streaming technology provider. The platform’s technology will also allow users to target specific repertoires, and will enable UMG sound recordings to be licensed and delivered securely, followed by timely and accurate usage reports and royalty payments. Tuned Global already hosts UMG’s repertoire on a cloud-based infrastructure, delivering music to clients and DSPs worldwide, further strengthening UMG’s global presence across various sectors. “This new way of working will help to enable ideas to be enhanced by UMG repertoire all over the world,” said James Healy, UMG’s svp of digital strategy and business development.
Indie label Dirty Hit extended its UK physical distribution partnership with Universal Music UK for another three years. This collaboration, which began in 2010, has helped drive the success of several major artists, including The 1975, Beabadoobee, Wolf Alice, Bleachers, Japanese House and Pale Waves, among others. The partnership has led to numerous UK No. 1s, including Beabadoobee’s debut This Is How Tomorrow Moves and all five of The 1975’s studio album releases. “As an independent label, we are always cautious of comprising our artist integrity,” said . “However, working with Warren [Querns at UMUK] and his incredible team has proven to be a fantastic partnership that has helped deliver impressive results time and time again.”
Audiomack, a major music streaming service with a strong presence across Africa, partnered with royalty tracking platform Mogul. This collaboration enables Audiomack’s 30 million-plus monthly users to track their royalties alongside other revenue streams through Mogul’s platform. The partnership aims to bolster transparency and accuracy in royalty distribution, especially for independent artists. The companies said Mogul has already tracked $100 million in royalties, helping artists recover an additional $150 million, since launching earlier this year. “The Audiomack team shares deeply in our vision of financial transparency and through this integration we look forward to helping artists on their platform build longstanding careers in music,” said Mogul CEO Jeff Ponchick.
Creative content company Toikido formed a global partnership with Magic Star, the kids and family division of Sony’s The Orchard, to distribute its music worldwide. Magic Star will serve as Toikido’s official global music distribution partner, using The Orchard’s vast network to share Toikido’s catalogue, which includes soundtracks, original songs, and dynamic audio content, with international audiences. Magic Star will offer Toikido comprehensive services, such as music engagement strategies, video production, brand partnerships and global marketing campaigns. CEO Darran Garnham sees this partnership as a major milestone, highlighting Toikido’s pride in its creative achievements and excitement for future growth with Magic Star’s support.
Music marketing platform SongTools partnered with Sonicbids, the artist development and booking platform recently acquired by Advance Music Technologies. This pairing gives SongTools customers access to Sonicbids’ enhanced artist services, marking the first of many future collaborations for SongTools, which recently raised $3 million to expand internationally and develop more wrist-centric tools. Sonicbids artists will also benefit from exclusive access to SongTools’ one-click Playlisting and advertising services, which are becoming essential for independent musicians. SongTools CEO Danny Garcia sees this collaboration as furthering their commitment to empowering artists with the marketing resources they need to succeed in the competitive music industry, adding “we can’t wait to see how artists make the most of this new opportunity.”
Salt, a digital rights and royalties solutions provider, has secured a multi-million-pound grant from Innovate UK, part of UK Research and Innovation. This funding will accelerate Salt’s development of AI-powered tools to better support music creators and rightsholders. The grant will help Salt improve operational efficiencies and strengthen its leadership in rights management solutions. In collaboration with Queen Mary University’s Centre for Digital Music, Salt aims to leverage AI and digital music expertise to push the boundaries of innovation in the sector. “With Salt’s pioneering AI work and the added horsepower from this funding, our partnership with Queen Mary University becomes a game changer so badly needed in the labyrinthine system that exists today,” said Dave Stewart, Salt investor and Eurythmics co-founder. “We’re poised to continue redefining the music industry landscape, empowering creators and protecting their rights with unmatched innovation.”
In a bid to further grow its operation and expand its international footprint, Bresh — the brand behind the Fiesta Bresh parties — has partnered with New York based investment firm Carroll Street Capital.
The two companies will launch Bresh Global, an international media and branded live events platform. Carroll Street will provide an infusion of cash as well as strategic access and support to continue growing the Bresh brand, whose global presence has multiplied in the past two years. The terms of the deal were not disclosed.
Bresh’s leadership will remain in place, with Tomás Allande as CEO, Alejandro “Bröder” Saporiti as artistic director, and founder Jaime James involved in all operations.
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Eduardo García Fernández, co-founder and managing partner of Carroll Street Capital will now also be chairman of Bresh global.
Bresh Global will establish its headquarters in Miami, with additional offices in Los Angeles. The company currently has offices in Buenos Aires and Madrid.
“Our mission at Bresh Global is to create human connections through entertainment and collective experiences,” said Jaime James in a press release. “In a world increasingly dominated by digital interactions, live events have the unique power to bring people together and transcend cultures. With this expansion, we aim to bring moments of joy to new audiences on a global scale.”
“We are excited about the opportunity to elevate Bresh to new heights,” added Eduardo García Fernández. “This partnership brings additional resources to Bresh to accelerate its growth and introduce new verticals and formats worldwide.”
Bresh, whose slogan is “The most beautiful party in the world,” is an entertainment company known for parties targeted at Gen Zs around the world and built on the concept of inclusivity rather than exclusivity. Bresh tickets are eminently affordable — in Miami, the cheapest ticket is $25 — and there is no doorman denying entry based on gender or looks. Instead of hiring celebrity DJs for its parties, all Fiesta Bresh DJs are Bresh-trained. Perhaps because of its inclusivity DNA, the parties have become magnets for Latin celebrities, including the likes of Lionel Messi, Emilia and Tini, Rauw Alejandro and Bizarrap, who have all been spotted at Bresh parties.
Bresh, which began hosting parties in Argentina, has expanded its operations to over 20 countries, and now puts together some 500 annual events, including in the U.S. and Spain.
Sources say Bresh and Carroll have been in conversations for the past two years and share the vision that “happiness and connections are essential, regardless of who you are or where you live.”
Universal Music Group opened up about how the company plans to keep growing in amid an evolving streaming landscape on Tuesday at the company’s capital markets day. Held in the storied Abbey Road studios in London, UMG’s c-suite and various executives from Republic, Interscope, Virgin Music Group and more described how they build a world around superstars like Taylor Swift, The Weeknd and Olivia Rodrigo, and how they’ve launched new acts like the Afrobeats star Rema.
The crowd of mostly financial industry analysts and investors also got an overview of the collectibles UMG hopes superfans will open their wallets for, its talks with Spotify about higher-priced premium subscription plans, and it’s new strategy to keep streaming revenues growing by an 8-10% compound average growth rate until fiscal year 2028.
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Streaming 2.0
Despite industry reports that new streaming subscribers are hard to find in developed markets and that streaming growth rates in smaller music markets like Brazil, Italy and Germany are besting major markets like the U.S., UMG Chairman and Chief Executive Officer Lucian Grainge gave an overview of UMG’s new strategy — dubbed Streaming 2.0 — to get more revenue out of streaming.
“The addressable market — in both established markets and fast-growing high potential music markets — is massive,” Grainge said, referring to streaming subscriptions. “We expect more than a billion subscribers by the end of the decade, and we constantly ask ourselves, ‘How long could it take us to get to 2 billion?’”
“While streaming has delivered robust growth to UMG for over a decade, Streaming 2.0 will deliver a new age of innovation, consumer segmentation, geographic expansion and greater value through both subscriber and [average revenue per user] growth,” Grainge said.
The strategy relies in part on increasing the number of streaming subscriptions in developing markets where UMG says subscribers meaningfully contribute to monthly trade average revenue per user. Less than half of people in established markets have streaming subscriptions, with less than 25% of the population in Japan holding subscriptions, UMG chief financial officer Boyd Muir said.
UMG said it also expects a new wave of subscribers in these markets to come from a second cohort of older listeners starting up subscriptions and younger, digitally native music fans getting older and spending more on their streaming subscriptions. They also expect to target audiobook listeners and satellite radio subscribers for music streaming subscriptions.
Super premium streaming subscriptions
UMG’s Streaming 2.0 strategy also relies on innovation in streaming, possibly like the development of high definition streaming plans like the one Spotify‘sDanielEk hinted in June is on the horizon. Ek said that “delux” subscription could cost around $17-$18 per month for a single account.
UMG is in advanced talks to partner with Spotify on the development of that higher-priced subscription plan, Muir said Tuesday. During his presentation, UMG chief digital officer Michael Nash compared it to “another exciting” example of higher priced subscription plans — Tencent Music Entertainment’s super VIP tier, which costs five times as much as the standard tier.
Muir said “a double digit percentage” of TME’s subscriber base signed up for the super VIP plan. UMG’s own research tells it that 23% of current streaming subscribers would pay more for a “better music experience.”
Monetizing superfans
UMG execs spoke admiringly of the good old days when superfans lined up outside stores to spend gobs of money on Michael Jackson and Shania Twain CDs. The reason why? Devotees of artists in prior decades spent more per capita on music, merchandise, concert tickets and collectibles than streaming-era fans.
“Superfans, the most avid 20-30% of all music listeners, once drove over 70% of recorded music spending,” Muir said. “Streaming monetizes them, but not nearly as well in the past. This is an enormous opportunity. We are seeing dramatic growth in revenues that are complimentary to spending.”
He was referring to premium music — vinyl, collectible CDs and cassettes — and merchandise collectibles. UMG has seen its revenues from products sold directly to consumers through some 1,300 odd online stores grow at a 33% compound annual growth rate in recent years.
When something like a $55-Olivia Rodrigo Stanley Cup gets sold, UMG collects as much information as it can, and the purchaser becomes one of the 100 million fans in what Muir referred to as “our owned audience.”
Years after Dave Petrelli worked in the Nashville music business, he experienced a moment in the city’s Shelby Park that eclipsed any expectations he had had for his career.
A former peermusic creative assistant and Nashville Songwriters Association International director of events, Petrelli purposely segued into music education, and one step in the journey included teaching general education to fourth graders. Drawing on his innate skills, he frequently rewrote existing songs to teach students, and when a full solar eclipse occurred in the city in 2017, Petrelli prepared his classes by reworking the Bonnie Tyler/Celine Dion hit “Total Eclipse of the Heart” as “Total Eclipse of the Sun.”
When the big day arrived, Petrelli and his wife, songwriter Victoria Banks (“Come On Over,” “Saints & Angels”), joined thousands in the park to watch the afternoon sky turn dark. Around a dozen kids saw “Mr. Petrelli” and ran to him to sing “Total Eclipse of the Sun.”
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“I didn’t even expect this to be a moment,” he says now, “and it was a moment.”
Petrelli is one of 30 instructors from eight states who will have another personal moment tonight (Sept. 17) when the Country Music Association recognizes them as CMA Music Teachers of Excellence at the Country Music Hall of Fame and Museum. CMA has turned music education into a mission, funneling revenue from the annual CMA Fest into programs that are vital to the development of future generations.
The program is so appreciated that the teacher awards will be attended by as many artists as instructors, including Walker Hayes, Jordan Davis, Riley Green, Terri Clark and Gretchen Wilson.
The teaching jobs may not be as glamorous as the touring gigs those artists pursue, but they’re “way more important,” CMA senior vp of industry relations Tiffany Kerns says. “We have the best gigs in the world, don’t get me wrong. But by far, what they do is way more impressive. And I mean, talk about having deep impact in communities.”
That impact is far-reaching. Music develops collaboration skills, learning to play an instrument builds discipline, and studying music rewires the brain, strengthening the connectivity between different cortexes and providing more paths for thoughts to follow. Schools with music education, according to Kerns, have lower rates of absenteeism. And since music teachers typically spend more one-on-one time with individual students as they learn their instruments, they are often the instructors whom students feel most comfortable with in revealing hunger or mental health issues.
In Petrelli’s case, students likely relate to him in part because he’s one of them in spirit. Growing up in Connecticut, his mother — who taught Spanish — died when he was 10, and he had to take care of himself sooner than his peers.
“I grew up too fast, and because of that, there’s still a lot of kid in me,” he says.
Petrelli leaned toward music early, and after graduating from Boston College, he taught the subject at a private Catholic elementary school for a year. He subsequently earned a songwriting degree at the Berklee College of Music, then moved to Nashville and worked his way into the music community. Once they got married, he and Banks decided at least one of them should have a job with greater security, and he shifted into education.
The “Total Eclipse of the Sun” moment grew out of his approach, which mixes music with other parts of the school’s curriculum. A few years ago, when Lockeland Elementary was operating under the schoolwide theme “Lockeland is out of this world,” he would have classes explore the details in songs with galactic lyrics — such as David Bowie‘s “Space Oddity,” Europe‘s”The Final Countdown” or Elton John‘s “Rocket Man” — to better understand space and enhance the school experience.
“What I have found is that that gets the kids really, really, really interested in what they’re going to learn today,” Petrelli says. “My lesson springboards off that.”
Other courses, such as math or science, have more cut-and-dried material — two plus two will always equal four — and Kerns suggests that those classes feel more “black and white” to students.
“When you walk into that music room, I really believe that Dave’s students immediately feel and see color,” she says. “There is something that is so vibrant about his personality and the way that he teaches, and that’s a gift.”
The CMA doesn’t restrict its Teachers of Excellence awards to instructors who use country music in their classes. Pop, jazz, R&B and mariachi have all been used extensively by various honorees, though Petrelli does, in fact, incorporate country in his work, with songs by Garth Brooks, Dolly Parton, Waylon Jennings and Shania Twain among the material he has used.
“The storytelling aspect is huge,” he says.
While teaching music may not be as glamorous as the careers of the artists that Petrelli’s classes draw from, it still scratches his own artistic itch.
“I teach six classes a day, and it’s six one-hour performances,” he says. “It is a song-and-dance show for one hour, six times in a row. I’ve worked physically demanding jobs, mentally demanding jobs. I have never been as exhausted at the end of a day as when I come home from a particularly hard day of teaching.”
It’s usually a thankless job, though the Teachers of Excellence event extends a bit of appreciation. And the students do provide feedback, whether they know it or not, at moments like the 2017 eclipse. At times like that, Petrelli is reminded that the job really is an opportunity to inspire the next generation, even if it looks a little different than what he originally envisioned.
“I always dreamed of girls screaming my name,” Petrelli says. “I didn’t think they’d be 9 years old and waving in their car, [yelling], ‘Mr. Petrelli!’”
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Warner Music Korea introduced MPLIFY, a new label designed to support Korean artists with global reach, focusing on English-language music to connect with international audiences. Samuel Ku, an executive producer at WMK, has been tasked with leading the label. The first artist signed to MPLIFY is Olivia Marsh, a Korean-Australian singer-songwriter who is set to release her debut single on all major digital platforms in October. Olivia’s sound blends pop and R&B, influenced by a wide range of artists including ABBA, John Denver, Tame Impala, and Vera Blue. A graduate of the University of Melbourne in Interactive Composition, she has worked with K-pop producers and songwriters to refine her craft. “I am delighted to sign with MPLIFY and to work with such a warm, passionate and innovative team,” Marsh said. –Marc Schneider
Big Loud Records and its Canada-based, Dallas Smith-founded imprint Local Hay Records have signed country artist Hailey Benedict. Benedict has also inked a global publishing deal with Big Loud Publishing/Local Hay. This summer, Benedict performed on the main stage at Alberta’s Big Valley Jamboree, and she’s nominated at the Canadian Country Music Awards for breakthrough artist or group of the year. –Jessica Nicholson
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Anniegee Marketing launched its artist management division, Anniegee Management, and inked a co-management deal with MUN Entertainment for Juliana Velasquez’s career development in the U.S., Puerto Rico and the Dominican Republic. Founded by seasoned music industry professional Annie Gonzalez after working as senior director, global marketing at Sony Music Entertainment for over 20 years, Anniegee Marketing and Communications has developed communication strategies in the U.S. for global stars including Shakira, Gloria Estefan, Alejandro Fernández, and many more. Through its new deal with rising Colombian artist Juliana, Anniegee now branches out into artist management, while still offering its marketing and PR consulting services. In her new role, Annie Gonzalez will co-manage Juliana alongside current manager Juancho Muñoz of MUN Entertainment. –Sigal Ratner-Arias
LA-based producer and songwriter Stryv (Hamid Bashir) signed with WME across all areas. Known for his work with artists like Kanye West, Ty Dolla $ign, Jason Derulo, Galantis, and Rita Ora, Stryv recently launched his own artist project. His debut single, “Move,” a collaboration with Adam Port, gained attention after being teased at Keinemusik shows worldwide. Since its official release in June, “Move” has earned over 200 million streams on Spotify, topped the Beatport Top 100 chart, and positioned Stryv as one of the platform’s fastest-growing artists. A follow-up single is set for release later this year. Stryv also forms half of the DJ duo ORSO, alongside Twitch co-founder Justin Kan, further expanding his influence in the electronic music scene. –M.S.
Boutique music publishing company MV2 Entertainment and independent label New Lost City Records have signed singer-songwriter True Youngblood, a Georgia native and Belmont University student, who just released his debut single, “If I Were a Cowboy.” Youngblood joins MV2’s roster of writers, which includes Josh Thompson (“Wasted on You,” “Drowns The Whiskey”), Forrest Finn, Grant Vogel, Johnny McGuire and Blake Henderson. The New Lost City roster includes Youngblood, Henderson and McGuire. –J.N.
Universal Music Group partnered with acclaimed Indian composer and three-time Grammy winner Ricky Kej to launch Vedam Records, a new label dedicating to bringing authentic wellness music from India to a global audience. In his first collaboration with Vedam, Kej has released Break Of Dawn, his latest studio album. “Vedam Records presents an opportunity to compose music that is therapeutic and necessary – now, more than ever,” Kej said. -M.S.
The Record Plant, the storied Los Angeles recording studio where Michael Jackson, Prince, Beyoncé, Lady Gaga and dozens of other music superstars made classic albums for decades, is one step closer to a sale now that veteran producer Rafa Sardina has purchased its assets for $500,000 during a bankruptcy proceeding last week. Sardina, who has won four Grammys and 13 Latin Grammys and has worked with Jackson, Stevie Wonder and Sheryl Crow, among others, takes over ownership of dozens of speakers, sound boards, microphones, cassette decks, CD recorders and other valuable sound equipment that was the heart of the studio for decades.
Founded in 1968, the Record Plant has been the standard for music production due to its high-end equipment and an emphasis on service and luxury that made megastars feel like they were in their own homes. Thanks to perks like a hot tub room, stars such as John Lennon and Fleetwood Mac took over studio rooms in the Plant’s early days; after it moved to its current location on North Sycamore Avenue in Los Angeles, Beyoncé rented every room to make her album Lemonade and Kanye West and Pharrell rode motorized scooters through the hallways.
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Sardina, who interviewed successfully at Record Plant early in his career before deciding to work at a different studio, did not respond to requests for comment about why he made the purchase offer. A lower bid, according to court documents, came from Italian producer Patrizio Moi, who has occupied a Record Plant studio room known as Digi-Plant since 2014. He offered $50,000.
Moi and the studio’s latest owner, Philip Lawrence of Bruno Mars‘ songwriting team, the Smeezingtons, have been battling over possession of the Record Plant for several years. Moi has declared in U.S. district court that Lawrence and his associates first offered him a co-ownership deal, then, in 2020, sold him the entire studio for $1. The two sued each other until last year, when Lawrence’s company, Philmar, declared bankruptcy, forcing the court to sell the Record Plant’s assets in order to pay off his debts. Moi argued to the court that he should take over the equipment and other property, but the judge, Victoria Kaufman, ruled against him.
Moi has said he hopes to take over the studio and run it as if it never closed. That will be harder to do so now that the studio’s high-tech equipment is likely to be removed, but he remains optimistic. Per his earlier agreement with Lawrence, he owns the Record Plant trademark and website domain. It is possible that Moi makes a deal with the land owner, CIM Group, to take over the lease.
“There’s a lot of moving pieces,” Moi says by phone.
However, the bankruptcy court’s trustee, Amy Goldman, disputed the previous arrangements between Lawrence and Moi, because Lawrence “retained possession of the property” and never transferred it to Moi even after their 2020 agreement. The judge agreed with Goldman — effectively denying Moi’s claim to any of the equipment or other property inside the studio. “The property can be sold free and clear,” Kaufman wrote last week.
Sardina’s purchase of the equipment, which includes multiple valuable microphones, including what Moi calls “stuff you cannot find anymore,” has not fully closed. The court’s trustee Goldman must “deliver all relevant and related sale documents to effectuate and close the sale and related transactions,” according to the judge’s ruling.
The $500,000 set to be paid by Sardina’s company, Firefly Music Row, will be used to pay off the debts of Lawrence’s company, Philmar, according to court documents.
Since Lollapalooza ushered in the era of the modern music festival in the early 1990s, one main power source has been driving them all: diesel generators. These mobile devices have been particularly crucial to the festival industry given that many of these events take place in open fields and parking lots that aren’t connected to the power grid.
But generators are also environmentally problematic. At the biggest festivals, they can burn through thousands of gallons of diesel fuel over a weekend, spewing carbon emissions that altogether make them the second biggest carbon emitters in live music, after emissions created by fan travel. They’re also loud, and they kind of stink.
“You can hear them from the stage, you can smell them from the stage,” says Adam Gardner of the band Guster, and who also co-founded the music sustainability nonprofit REVERB. “It’s just unpleasant.”
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But the live events industry, and the festival industry in particular, is amidst what seems to be a sea change in how events are powered. And increasingly, the more viable alternative to the diesel devilry is simple — batteries.
Last month, the Lollapalooza 2024 mainstage was powered entirely by batteries, which kept the lights, sound and other power components on during performances by Chappell Roan, Megan Thee Stallion, SZA, The Killers and more. A rep for Lollapalooza tells Billboard that with this effort, the festival saw a 67% reduction in both fuel use and greenhouse gas emissions over prior years, when batteries had not been used. This equates to the sparing of 26 metric tons of greenhouse gas emissions, or the equivalent to five homes’ electricity use for a year. The use of batteries also saved over 3,000 gallons of fuel. Lollapalooza says this initiative made it the first major U.S. festival to power its mainstage on a hybrid battery system.
“I’ve heard some rumors about competitors being maybe a little jealous that we were the first ones to do it,” says Jake Perry, the director of operations and sustainability at C3 Presents, which produces Lollapalooza.
Lolla’s effort helped demonstrate that what may seem risky is actually a reliable alternative that’s evolving power options for live events. “There’s a lot of fear and apprehension over providing the power that’s turning the show on,” says Perry. “But there were, like, zero issues.”
The battery set up at Lollapalooza 2024
Dusana Risovic
REVERB, a 501c3 nonprofit that’s focused on sustainability in music for 20 years and was co-founded by Gardner and his wife, environmentalist Lauren Sullivan, estimates that each year, U.S. festivals burn the equivalent of 46 million miles driven by gasoline powered vehicles. As battery technology evolves, they’re becoming a more viable solution to the issue, if organizers can be convinced that they’re reliable enough to use.
“If there’s a choice between sustainability and reliability, everyone’s going to choose reliability,” says Greg Landa, CEO of CES Power, the industry’s leading mobile power provider for festivals. “The pop star doesn’t want to be on stage if there’s no audio or lighting.”
But early adopters have demonstrated batteries’ efficacy. In May, Northern California’s two-day Mill Valley Music Festival was powered entirely by batteries. At the 2023 edition of Willie Nelson’s Luck Reunion near Austin, Texas, the REVERB team powered all four stages with batteries, setting up a temporary on-site solar array to charge them. By 2024, the entire event was battery powered, with the only generators on site being inside the tour buses of the artists playing. In total, 350 gallons of diesel fuel were used at Luck in 2022, with that number down by 90% in 2023 and 100% in 2024, tour buses notwithstanding. This year, REVERB also brought battery power to SXSW, using it to power an outdoor stage for public performances by artists including Bootsy Collins.
REVERB and Overdrive Solutions’ solar setup at Luck Reunion 2024
Courtesy of REVERB
These efforts were backed by REVERB’s Music Decarbonization Project, which aims to eliminate carbon emissions created by the music industry. The Project made headlines in 2023 when it brought a temporary solar array to Lollapalooza in Chicago, using it to charge the battery system that powered the mainstage during a headlining set from Billie Eilish, arguably the modern artist most vocal about sustainability. (Eilish helped launch and fund REVERB’s Music Decarbonization Project in 2023.)
Through this initiative with Eilish, “we were able to help Lollapalooza [get] to where they are now, where they were able to take it upon themselves,” says Gardner, “which is exactly the point of the Music Decarbonization Project.”
Lollapalooza’s use of battery power in 2024 came after years of the fest searching for the battery technology to make it happen, with C3 testing batteries from myriad manufacturers over the last few years at events including Austin City Limits and North Carolina’s High Water.
“The technology is evolving very quickly,” says Perry. “This year it finally got to a point where it was big enough and capable enough to put it into an installation this size.” The effort falls into Live Nation’s goal of cutting its emissions by 50% by 2030.
Battery power at a festival functions in essentially the same way as in a hybrid car; think of battery systems as a hybridization of the stage. How long batteries last depend on what’s being powered (i.e. a stage, a lighting source, a food vendor, etc.), how long it’s powered for and the battery’s storage capacity.
Partnered with CES, Lollapalooza 2024 used lithium ion batteries made by industrial equipment manufacturer Atlas Copco. All batteries, regardless of manufacturer, can carry only a certain amount of charge and must have charge added during the event. Each battery is connected to a secondary power source that charges it back up when necessary.
As such, how green batteries actually are varies by the way they’re charged. Batteries can be powered off the grid if utility power is available, or from a generator running off diesel (the most common option) or biodiesel, which has less of a carbon footprint but can be hard to source. Solar panels don’t require any fuel to be burned, although setting up the necessary solar array at an event can be time- and space-intensive.
But even when using diesel backup generators, batteries are more efficient. Landa says that if the company put a 60 kw battery at an event site, it’s unlikely the battery would ever be using that full 60 kw power, with levels more likely to be at 30-45 kw depending on what it’s powering. At that rate, the battery would likely last four to five hours before being charged by the generator, thus using less fuel.
“That’s the hybrid approach we’re talking about,” Landa says.
Batteries also have built-in computers, making them able to report how much power they’re using at any given time. When they need to be charged, they automatically turn on their power sources. When they reach the necessary level of charge, they automatically turn this backup source back off. And because batteries are intelligent, if a failure occurs, they’ll instantly flip on the backup source to avoid power interruptions.
“They’re telling you everything in real time,” says Gardner. “You can literally monitor your power usage on an iPhone as it’s happening.”
According to Landa, the top mobile battery suppliers are currently Caterpillar, Atlas Copco and portable power solutions supplier POWR2. The Vermont-based Nomad offers transportable battery systems designed for rapid deployment and operation at the utility (or grid) level, although Alex Crothers of the Burlington-based music production company Higher Ground incorporated Nomad batteries into the company’s 2024 summer season, along with batteries from Overdrive Solutions. Crothers is currently exploring how to make these batteries into backup power for the venues he co-owns, given that the concert series only happens a few times a month due to the weather. Meanwhile, Overdrive Solutions provides battery power stations and systems and has partnered with AEG on myriad events, assisting with planning and on-site execution.
“A lot of them use the same technology in their guts,” Gardner says of all these products.
As battery technology improves, there could come a time when they can be charged with utility power before being transported to a festival, then run for the duration without being recharged. “That is not where we are today,” says Landa. “But that is the goal.” As batteries become more efficient, they’ll also likely become smaller, which will allow more of them to fit on a shipping truck and reduce costs and carbon emissions related to transport. Some batteries currently being made by Overdrive Solutions are already as small as a rolling suitcase.
The current hybrid battery model is what makes it possible for artists to say that their shows are completely battery powered, even though there are generators on site. “When you hear about Coldplay, they brought just as many generators as they brought batteries,” says Landa. “While Chris Martin was on stage, he may have been without any emissions, but there were diesel generators charging those batteries [after]. I’m not trying to greenwash this.”
At Lollapalooza 2024, generators ran on b14 biodiesel, a blend of diesel and biodiesel, with C3 partnering with CES and sustainability consultancy ZAP Concepts (who worked with Coldplay on their Music of the Spheres Tour, which pledged to reduce the band’s direct carbon emissions from production, freight and band and crew travel by at least 50%) to make the project a reality.
Of course, batteries have many festival applications beyond powering stages. REVERB worked with Coachella and Stagecoach to put up battery-powered light towers that were charged by solar. “Festival organizers loved it,” says Gardner, “because they didn’t have to run out to light towers on the outskirts of the festival in their golf carts and fill up the diesel generators.”
REVERB and Overdrive Solutions’ solar setup at Coachella
Courtesy of REVERB
Perry of C3 says that after the success of 2024, Lollapalooza will likely roll out additional battery usage incrementally, ultimately working to entirely replace the roughly 70 generators on-site annually. This endeavor will become easier as the general supply of batteries increases, as currently, Perry says, “these types of high-capacity batteries are low supply, high demand.”
He adds the price of the Lolla mainstage project was “not cheap,” with the festival partnering with CES, Live Nation’s sustainability program Green Nation and T-Mobile to cover costs. Landa says that while lithium-ion batteries currently cost about five times the price of diesel generators, batteries are rechargeable and built to work for a decade or longer, so buyers can spread the cost out over time.
Landa predicts that, as with electric cars and iPhones, prices will come down as technology evolves, with a trickle-down effect likely to occur. “Think electric vehicles at the top,” he says, “then think industrial applications, then think events and entertainment at the bottom of the funnel. We need the guys ahead of us to drive down cost and increase the supply chain so that it makes sense by the time it gets to the bottom of the funnel.”
As this happens, and as the industry grapples with sustainably — particularly in the face of events being affected by major and extremely freaky weather events — initiatives like REVERB’s work at Luck Reunion and SXSW and what C3 did at Lolla 2024 are meant to build broad trust, showing the industry what this technology is and that it works.
“I think the most positive feedback that I got was that it went unnoticed,” Perry says of Lolla’s batteries. “For me, an operational person, the biggest kudos is to be smooth and unseen.”
Live Nation, Warner Music Group and Spotify helped lead a music stocks rebound this week as global markets recovered from a disastrous prior week.
The Billboard Global Music Index gained 3.2% to 1,800.75 to retake nearly two-thirds of the previous week’s losses. Last week, just three of the index’s 20 stocks were gainers. This week, 11 stocks finished in positive territory while nine lost value. The seven multi-sector companies — recorded music, publishing and agencies — had an average gain of 2.3%. Six streaming companies had an average gain of 2.6%.
Major indexes also posted gains after last week’s downturn. In the United States, the Nasdaq jumped 6.0% to 17,683.98 and the S&P 500 climbed 4.0% to 5,626.02. In the United Kingdom, the FTSE 100 rose 1.1% to 8,273.09. South Korea’s KOSPI composite index improved 1.2% to 2,575.41. China’s Shanghai Composite Index was an exception, dropping 2.2% to 2,704.09, its lowest close since Feb. 5, 2024.
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Concert promoter Live Nation jumped 6.5% to $98.82 on Friday, its best closing price since $101.40 on May 22. CEO Michael Rapino gave investors a convincing narrative about Live Nation’s past, present and future at the Goldman Sachs Communacopia & Technology Conference on Tuesday (Sept. 10). Speaking about the potential for growth outside of the U.S., Rapino talked about taking the model used in Austin, where it built the Moody Center (in partnership with Oak View Group) and is getting “25-plus-percent return on capital.”
While the U.S. is filled with arenas because of basketball’s popularity, soccer-dominant Europe and South America don’t have the same infrastructure, Rapino explained. Growing a presence in those areas means building the venues, which provides better profits than being a venue operator. And it can be done more affordably than the cost of many arenas in the U.S. “We’re not building a billion-dollar Chase Center [the home of the Golden State Warriors basketball team in San Francisco],” Rapino said. “We’re building a $300 million-$400 million music venue, and we can get a great return on capital and expand the market. So that’s our greatest opportunity.”
After SiriusXM merged with Liberty Media’s tracking stock, Liberty SiriusXM, the new stock — also trading under the SIRI ticket — finished closed at $24.51, down 10.2%, after taking into account a 1-for-10 stock split. SiriusXM initiated post-merger trading at $25.25 and rose 2.6% on Tuesday before reaching a high of $29.05 on Wednesday. The company said the merger of SiriusXM and Liberty SiriusXM stocks was done to simplify the capital structure and support the company’s future growth.
In its first press release following the merger with Liberty SiriusXM tracking stock, SiriusXM provided updated free cash flow guidance of $1 billion for 2024, a $200 million drop from the guidance provided on Aug. 1. The $200 million change reflects about $70 million of closing costs and incremental interest and about $130 million related to “historical, year-to-date outflows at Liberty SiriusXM Holdings Inc. prior to the closing of the transaction.” The company left unchanged its guidance for revenue ($8.75 billion) and adjusted earnings before interest, taxes, depreciation and amortization ($2.7 billion).
Spotify gained 4.7% to $338.01, erasing most of its 5.9% loss two weeks prior. On Thursday, Guggenheim increased its estimate for fourth quarter monthly average users and average revenue per user and raised its third quarter gross margin estimate. Analysts spoke with a publishing executive who had positive things to say about Spotify’s audiobook offering and its positive impact on the publishing business. Guggenheim maintained its “buy” rating and $420 price target.
Multi-sector companies performed especially well this week. Warner Music Group gained 5.1% to $29.02 after Tigress Financial cut its price target to $44 from $52 on Thursday but retained a “buy” rating on the stock. Reservoir Media rose 5.3% to $7.72. Universal Music Group improved 2.9% to 23.60 euros ($26.17). Most K-pop stocks rebounded after a rough week. Although HYBE lost 1.0%, YG Entertainment gained 4.9%,SM Entertainment improved 3.2% and JYP Entertainment rose 1.7%.
A trio of streaming companies were among the week’s worst performers. China’s Cloud Music fell 4.7% to 91.95 HKD ($11.79). China’s top music streamer, Tencent Music Entertainment, fell 6.7% to $9.52. Abu Dhabi-based Anghami dropped 7.8% to $0.83.
Despite having to pay more for everyday goods and services, Americans feel like they’re in a better place financially than earlier this year. How they choose to increase and cut back their spending, though, varies from music to vacations to groceries.
The data show consumers are generally in a good place. The latest numbers from University of Michigan’s survey of consumers released today (Sept. 13) show consumer sentiment is the best since May and 40% above its June 2022 low. Deloitte’s financial well-being index rose for the third straight month in August and has risen from 95.9 to 102.6 over the last year, which suggests that consumers are feeling good enough about their finances to increase spending on a range of products and services.
Listen to travel and leisure companies and you’ll get the impression that inflation-weary, cash-strapped consumers are holding close to their wallets. In August, Airbnb missed earnings and warned of slowing demand, while Booking.com told investors that it expected slower growth in the number of nights booked by customers. Disney’s theme parks are seeing softer demand. Comcast’s Universal theme park revenue fell 11% in the most recent quarter after having a record 2023.
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The concert business, though, doesn’t share the malaise of theme parks and vacation rentals. “We don’t see [a slowdown],” Live Nation CEO Michael Rapino said Tuesday (Sept. 10) at the Goldman Sachs Communacopia & Technology Conference in San Francisco. “And you almost hate saying it, because everyone else is saying it, but we do think we have a very unique product.” Live Nation, the world’s largest concert promoter and ticketing company, had a record second quarter with total revenue of $6 billion, up 7%, and expects 2024 will be a record year.
Concerts have the advantage of creating a more visceral reaction than other types of entertainment. And because it’s in-person and live, Rapino explained, it’s a unique experience with a competitive advantage. “[Fans] want to connect with that artist,” he said. “There’s no digital duplicate replication here. You cannot watch that show at home. You do not get goosebumps when you watch it on Apple TV.”
Live music isn’t totally immune to economic woes, of course. Numerous tours — including The Black Keys and Jennifer Lopez — have been cancelled due to poor ticket sales. Festivals ranging from Desert Daze in California to Beale Street Music Festival in Memphis pulled the plug in 2024 due to economic reasons. And as Billboard has documented in recent years, the financial strain of touring artists following the pandemic has been very real. Higher costs for transportation, fuel and food have forced artists to economize and cut back on expenses to turn a profit.
Fans are still spending dearly on a small number of superstars, though. Surge pricing used in the Oasis on-sale inflated the cost of primary tickets beyond many fans’ comfort zones. Sphere in Las Vegas has drawn high-spending fans to residencies by U2, Phish and Dead & Co., and The Eagles’ upcoming shows should do similarly well. Prices to Adele’s final residency performance at The Colosseum at Caesar’s Palace in Las Vegas before an indefinite hiatus soared beyond $17,000 for top-tier seats.
Consumers continue to spend on recorded music, too. According to the RIAA’s mid-year report, the parts of the business that involve direct consumer spending — subscriptions, physical formats and digital downloads — rose 4.7% in the first six months of 2024. Subscription revenue improved 5.1% and surpassed 60% of total recorded music revenue. Spending on physical music formats fared even better, rising 12.7% on the strength of a 17.0% increase in vinyl sales. Download spending, an increasingly inconsequential part of the business, fell 15.8%.
Segments that don’t represent consumer spending — ad-supported streaming, synchronization royalties and SoundExchange royalties — rose just 0.9%. Ad-supported on-demand streaming, the biggest component of the non-spending segment, rose just 1.7%. (SoundExchange royalties include ad-supported streaming in addition to satellite radio royalties, which stem from direct consumer spending, and cable radio stations, which do not.) Synchronization royalties — it reflects the money flowing into advertisements and TV and film production — dropped 9.8%.
Elsewhere in the entertainment business, spending is mixed. U.S. movie ticket sales were down to $3.6 billion from $4 billion, though the pop culture sensation of Barbie and Oppenheimer in the summer of 2023 made for a tough comparison. U.S. video game revenue is expected to rise about 2.2% to $47 billion in 2024, according to market research firm Newzoo.
While consumer are looking to splurge on entertainment, they’re much more price conscious about everyday items. According to the consulting company McKinsey, people are cutting back on spending on essentials — especially gasoline and fresh produce — as well as home improvement and domestic flights.
During a 1980 presidential debate, Ronald Reagan posed a now-famous question: “Are you better off than you were four years ago?” In 2024, many Americans feel they were better off in 2020 — even though the economy was crippled by the pandemic that year. The music industry is better off today than four years ago. And although recorded music growth has slowed this year, 2024 will be better than 2023, too.
Billboard Canada Women in Music was a star-studded celebration in Toronto last Saturday night (Sept. 7). Rising stars, Canadian legends — and some of their parents — were on hand to honour the myriad achievements of women on stage and behind the scenes in the first-ever edition of Billboard Women in Music in Canada featuring guest of honor Alanis Morissette.
Morissette received the Icon Award, honoring her as one of the country’s all-time greatest artists. Morissette celebrated femininity and emphasized its importance to people of all genders. “Matriarchy takes care of everybody,” she told the crowd, to a round of cheers.
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She was introduced by two Canadian stars — broadcaster George Stroumboulopoulos and Woman of the Year Charlotte Cardin, both of whom spoke to her massive influence.
Taking the stage to accept the award, Morissette — who has sold over 60 million records, with her breakthrough album Jagged Little Pill widely ranked as one of the best albums ever made — had her own thoughts to share on what it means to be an icon. She joked that even cereal boxes are called iconic these days. For her, though, an icon is someone who serves as a symbol of the safety to explore. Morissette reflected on how icons can inspire fans and listeners to probe the unconscious and to express themselves in new ways.
She also considered what it means to be a Canadian icon, enumerating some Canadian qualities that have helped her to succeed: curiosity and humility. Fame can be an isolating experience, Morissette shared — especially in the ‘90s, when there wasn’t a big girl-squad mindset, but fame has allowed her to also support and connect with people.
The night was filled with highlights, from Jessie Reyez dedicating her Trailblazer Award to her mother, who was in attendance, to performances from artists including Haviah & Omega Mighty, Tia Wood, Anjulie and more.
One of the most powerful moments came from Jully Black, known as Canada’s Queen of R&B, who took the Billboard Canada SiriusXM stage for a deeply impactful cover of Bob Marley’s classic “Redemption Song,” keeping the audience rapt for her 11-minute rendition.
In an elegant white and yellow gown, she commanded the stage, accompanied by a pianist and guitarist. She began with a moment of silence — no small feat, in a packed room full of industry honourees — reminding the crowd that though this was a celebration, many women around the world don’t get the opportunity to celebrate themselves.
“I stand here as my ancestors’ wildest dreams,” Black told the crowd, before leading a sing-along of “This Little Light of Mine,” bringing the crowd together as a community.
Adding a new lyric into Marley’s song about bondage and freedom, she asked a new question: “how long shall they kill our women?”
She descended into the audience to connect with fans and peers on the floor before returning back to the stage, and reflecting on her own beginning in the industry.”29 years ago I sang a hook called ‘What It Takes,’ by Choclair,” she remembered. “There was no infrastructure, there was no radio, for people, women, that looked like me,” she continued. “Women are paid less, if you don’t have a seat at the table build your own.”
She finished with heartfelt, hard-hitting vocalizations on Bob Marley’s refrain, closing out a performance that emphasized how far Canadian women in music have come, and how much there is left to do.
Watch the whole video here.
Selena Gomez, The Tragically Hip, Pharrell Williams Make Headlines at the Toronto International Film Festival
Some of the music industry’s biggest names have been descending on Toronto over the past week for the Toronto International Film Festival (TIFF).
The film festival has transformed downtown Toronto into a hub for celebrities, high fashion and red carpet glitz. It’s also brought many of music’s biggest stars to town, including Selena Gomez, Bruce Springsteen, Elton John, Pharrell Williams and more.
Selena Gomez came to Toronto for her new movie Emilia Pérez, a musical crime comedy that follows a Mexican cartel leader who comes out as a trans woman. Gomez plays the title character’s wife.
In an interview on the red carpet, Selena Gomez told Billboard Canada how her pop career actually worked against her for the role as she was learning the dance style of the film.
“I think it was really important that I let go of the pop star thing and kind of focus on more intricate dance that I’ve never really done before,” she said. “So it was really fun.”
Beloved Canadian rockers The Tragically Hip premiered a new four-part docuseries at TIFF, The Tragically Hip: No Dress Rehearsal. The series features new interviews and archival footage of the band, recounting their rise to stardom and the diagnosis of lead singer Gord Downie, who died in 2017 of brain cancer. Outside the screening, local choral collective Choir! Choir! Choir! led a massive sing-along of one of the band’s classic songs, “Ahead By A Century,” reminding attendees that love for The Hip runs deep.
The premiere of Pharrell Williams‘ LEGO-fied animated biopic Piece By Piece on Tuesday night (Sept. 10) was interrupted by an animal rights protester who stormed the stage during a Q&A session waving a sign that read: “Pharrell stop supporting killing animals for fashion” and shouting “Pharrell stop torturing animals!” Pharrell Williams is the creative director of the Louis Vuitton men’s collection.
Rather than move past it, Williams addressed the protester directly and said “You know what? You’re right.” He continued on that it wasn’t the right way to make her point, but that she did have a point. “…We’re actually working on that. And if she would have just asked me, I would have told her. But instead she wanted to repeat herself.”
Elton John was at the festival with his Canadian husband David Furnish, as was Bruce Springsteen and musician K’naan, who made his feature directorial debut. Check out more of TIFF’s top music moments here. – Rosie Long Decter
Hailey Benedict Signs to Big Loud Records
Rising country artist Hailey Benedict is making some big moves, as she inks a deal with Nashville’s Big Loud Records.
The Alberta singer announced the signing at Billboard Canada Women in Music celebration on Saturday, September 7.
Taking the stage in a sparkling silver fit, Benedict revealed that she’s signed with Big Loud and its Canadian-based imprint Local Hay, helmed by country star Dallas Smith. She followed up the announcement with a performance of her upcoming single “Things My Mama Says,” set to be her first release on Local Hay on October 4.
Benedict has been building to this moment since she was a kid — she first rose to national attention at the age of 14, when Keith Urban invited her on stage at a sold-out show in 2016 to perform an original song.
Since then, she’s released successful singles like 2021’s “Wanted You To,” built up an online fan base including 250K TikTok followers, and performed at major events like the Country Music Alberta Awards. In 2023, she won the SiriusXM Top of the Country competition and she’s heading into this fall’s Canadian Country Music Awards with a nomination for Breakthrough Artist.
All of that makes the timing right for Benedict to shift from an independent artist to working with a label that knows how to navigate the country landscape.
“I’m ecstatic to begin this new chapter with such an incredibly creative and dedicated team that shares my vision for my songwriting, artistry and career,” Benedict said in a statement. “After a decade as an independent artist, it was crucial for me to partner with a record label that aligns with my values and passion for music.”