Business News
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Spotify continued its remarkable run this week by briefly surpassing a $100 billion market capitalization before falling slightly by the close of trading on Friday (Dec. 6). The company’s shares rose 4.5% to $498.63, marking the music streamer’s second-best closing price ever. The best closing price of $502.38 came on Wednesday (Dec. 4) when Spotify reached a new intraday high of $506.47, valuing the Swedish company at approximately $100.8 billion.
The $100 billion threshold arrived the same day Spotify launched its 2024 Wrapped, the personalized, data-driven product that breaks down listeners’ streaming time and ranks their most popular artists and tracks. Wrapped, first launched in 2015, has become both a major media event and an immensely successful product that listeners share incessantly on social media.
At Friday’s closing price, Spotify has gained 165.4% in 2024, making it the only music company to have a triple-digit gain. This improvement is three times higher than that of Live Nation, which has risen 46.1% this year. Cloud Music is close behind with a 44.2% gain year-to-date.
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With a valuation of more than double the next-largest music company, Spotify is a major driver of the 20-stock Billboard Global Music Index, which rose 2.8% to an all-time high of 2,280.51. That brings its year-to-date gain to 48.7%. Ten of the 20 stocks were gainers while nine lost ground and one was unchanged. Radio companies, buoyed by iHeartMedia’s 14% gain, led the way with an average gain of 5.9%. Streaming companies posted a 4.4% average gain. Live music companies were essentially flat. Multi-format companies (record labels, music publishers) fell 2.1% on average.
Most other streaming companies were gainers this week. Tencent Music Entertainment rose 10% to $11.54. Cloud Music increased 9.7% to 129.40 HKD ($16.63). LiveOne jumped 6% to $0.88. Deezer improved 2.9% to 1.37 euros ($1.45). Abu Dhabi-based Anghami fell 6.8% to $0.73.
On the live front, MSG Entertainment improved 1.6% to $36.26 this week. The company announced on Tuesday (Dec. 3) that it spent $25 million repurchasing its Class A common shares due to their price “relative to the company’s long-term growth potential.” Elsewhere, Live Nation fell 1.1% to $140.26 while Sphere Entertainment Co., which announced additional Dead & Company dates this week, fell 5.1% to $40.27.
In other noteworthy stock moves this week, HYBE dropped 3.2% to 214,000 won ($150.15) after news broke that South Korean authorities are investigating chairman Bang Si-hyuk for possible violations of the country’s Capital Markets Act. The move came after a report claimed Bang had a secret agreement with shareholders prior to HYBE’s initial public stock offering that gave him a $285 million profit when the company went public in 2020. HYBE shares fell 6.7% over the two trading days following the news report but recovered more than half its losses later in the week. Other K-pop stocks fell in unison with HYBE. JYP Entertainment dropped 5.2%, YG Entertainment lost 5.8% and SM Entertainment sank 7.5%.
Elsewhere, stocks were mostly up globally. In the United States, the Nasdaq composite rose 3.3% and the S&P 500 gained 1%. In the United Kingdom, the FTSE 100 improved 0.3%. China’s Shanghai Composite Index grew 2.4%. Dragged down by political turmoil, South Korea’s KOSPI composite dropped 1.1%.
A year that could have been sleepy ended up hosting a slew of massive deals, from starry catalog acquisitions to top-dollar asset-backed securities deals.
Drop that stylus on this week’s stacked Executive Turntable, Billboard’s compendium of promotions, hirings, exits and firings — and all things in between — across music.
Read on for some very personnel news and don’t forget to cast your vote for the Power 100 Players’ Choice Award, plus peruse our annual list of the industry’s savviest financial advisers, our weekly interview series spotlighting a single c-suiter and our calendar of notable industry events.
SoCal concert promoter Goldenvoice, a subsidiary of AEG Presents, announced the retirement of its senior vice president, Susan Rosenbluth. With a career spanning six decades, Rosenbluth has worked with artists like Elton John, Talking Heads, BTS and Van Morrison, among others. She began her career at the Greek Theatre in 1978 and became its general manager by 1982. She later managed concert presentations at various venues for Nederlander, including the Pantages Theatre, the Pacific Amphitheatre and the Honda Center, and became a talent buyer in 1995. In 2003, Rosenbluth joined Goldenvoice, overseeing talent buying for concerts across California, Alaska, Hawaii and Arizona. She also spearheaded the Latin concert promotion division and became a key figure in promoting K-pop acts in North America, including BTS and BLACKPINK. She also co-chairs AEG’s Women’s Leadership Council and has received numerous awards, including from Billboard and Pollstar. “My work life has been filled with so many meaningful experiences, due to the Goldenvoice concert promotion team, artists and their crews who come together to present these events,” said Rosenbluth, “I am grateful to the people of the concert community.” Goldenvoice president Paul Tollett added: “Susan is a legend… that goes without saying. But she also charted a new course for Goldenvoice musically and made us better for it.”
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Goldenvoice has promoted Lea Swanson to vp of talent, where she’ll oversee booking for the Mountain Winery, contribute to talent buying at key Los Angeles venues like the Peacock Theater and Shrine Auditorium, and book shows in across multiple markets in California and Hawaii. Based in San Diego, Swanson will report to COO Melissa Ormond. Swanson brings over 25 years of experience in talent buying, including 17 years with Goldenvoice parent AEG Presents. Her career began in 1999 at Viejas Casino, where she helped develop a 1,500-capacity concert venue. She has since booked a wide range of events, from small clubs to full-size arenas, and worked with venues like the Rady Shell, Humphreys Concerts by the Bay and Pechanga Resort Casino. Stoked for her new role, Swanson emphasized the can’t-pass-up opportunity to grow within the mega-market just north of her. “After over 17 years with AEG Presents in my home market of San Diego and supporting numerous casino clients, I feel fortunate to be in the right place at the right time to step into this elevated role,” she said. “A year after accepting the lead booking role at the Mountain Winery in Saratoga, having the chance to grow and promote shows in one of the primary music markets in North America was an opportunity I had to take.”
Bill Walshe is Sphere Entertainment‘s new executive vp and global head of venue operations and development. The hospitality industry veteran will lead operations at the mothership in Las Vegas, while also running point on developing a global network of other orbs the world over. Reporting to Jennifer Koester, president and COO, Walshe will lean on his skillset to enhance the guest experience at Sphere. Walshe’s career includes leadership positions at Viceroy Hotel Group, The Doyle Collection and Jumeirah Group, where he oversaw sales, marketing, and innovation initiatives. Koester praised Walshe’s expertise in international markets, citing his ability to align with Sphere’s ambitious vision. “Sphere is a global destination for immersive experiences unlike anywhere else,” said Koester. “Bill’s expertise across premier brands in international markets will be an asset as we continue to deliver an unparalleled experience for guests, artists, and partners at our Las Vegas venue, while pursuing our long-term growth goals for this next-generation entertainment medium.”
The New York Philharmonic appointed Matías Tarnopolsky to president and CEO of the storied symphony, effective New Year’s Day. Currently leading The Philadelphia Orchestra and Ensemble Arts, Tarnopolsky has held prominent roles at Cal Performances, the Chicago Symphony Orchestra and the BBC Symphony Orchestra. He previously served as vice president of artistic planning at the New York Phil from 2005 to 2009. Board co-chairmen Peter W. May and Oscar L. Tang praised Tarnopolsky’s innovative leadership and strong relationships within the artistic community. Gustavo Dudamel, the Philharmonic’s incoming music and artistic director, expressed confidence in their shared vision for the orchestra. “I vividly remember when Matías came to Caracas in 2006 and, from that moment, I knew that I had met someone who would become one of the most important leaders in our industry,” recalled Dudamel. Tarnopolsky said he looks forward to returning to the Phil, inspired by its newly renovated David Geffen Hall, Dudamel’s leadership and plans to elevate the Philharmonic’s cultural impact and foster inclusivity. “We will rededicate ourselves to the New York Philharmonic’s contemporary place in the cultural and civic life of New York, for all New Yorkers, to create an inclusive, expansive, and joyful musical future,“ he said.
Rachael Stoeltje will become chief of the Library of Congress‘s National Audio-Visual Conservation Center, beginning in January. She’ll oversee the Packard Campus in Virginia, managing the world’s largest collection of films, TV programs, radio broadcasts and sound recordings, focusing on acquisition, preservation and accessibility. Previously, Stoeltje directed Indiana University Libraries Moving Image Archive, leading its expansion and film digitization and preservation efforts. As president of the Association of Moving Image Archivists, she championed diversity and global cooperation in media preservation. Library of Congress associate librarian for researcher and collections services Hannah Sommers praised Stoeltje’s career as “visionary” and “laser-focused on the future and leading by example.” Stoeltje emphasized tackling challenges like AI’s impact on archival authenticity and global archival risks. “The big issues on the horizon are an important part of our future work, along with preserving and making accessible our nation’s moving image and sound recording cultural heritage,” she said.
Capitol Records tapped Sam Breslin as vice president of marketing, a bump-up from his previous role of senior director. In his elevated position, Breslin will continue crafting and implementing strategies for a wide array of newer and legacy artists at the legendary label. Having joined Capitol over a decade ago as a coordinator, he has since contributed to significant successes for Lewis Capaldi, The Beatles, Paul McCartney, Niall Horan, Norah Jones, Good Neighbours, Beck and more.
Venu Holding Corporation (VENU) named Terri Liebler as its chief marketing officer. With 30 years of experience in sports and entertainment, Liebler previously served as senior vp in Live Nation Entertainment’s media and sponsorship division, where she led strategic planning and innovative growth initiatives. During her 22-year tenure at Live Nation, she played a key role in expanding U.S. and international venue and festival platforms and cultivating partnerships. Liebler’s career also includes roles with the NBA’s Seattle SuperSonics and San Antonio Spurs, as well as work on the Premium Seat operations team for the 1996 Atlanta Olympics. VENU’s founder and CEO, J.W. Roth, praised Liebler’s passion and leadership, anticipating she’ll bring with her “an unrelenting enthusiasm and dedication for our brands that will undoubtedly drive our unparalleled venues to new heights.”
VENU also announced that Live Nation Entertainment veteran Will Hodgson has been its president since October. He spent 13 years at LNE, where he led House of Blues Entertainment, overseeing 20 venues, 17 restaurants, and seven cocktail lounges. His background also includes investment banking and developing ticketing solutions for major festivals. “Will is a rockstar, he will do an incredible job quarterbacking our strategic growth and operations,” said J.W. Roth. “His unique expertise across live music, finance, ticketing, food and beverage, and real estate development is a powerful fit for our vision.”
Nashville-based music publishing company Little Extra Music hired Victoria Goodvin to represent the company’s catalog. Goodvin’s career includes time at Song Factory Music, Wide Open Music, Liv Write Play and Row Entertainment. Also joining the team is Tristan Scaife (son of Little Extra Music co-founder Joe Scaife), who will work alongside Goodvin. LEM was founded in 2013 by Scaife and Lisa Ramsey-Perkins. The company’s catalog features more than 100 cuts, including the four-week Billboard Country Airplay chart-topper “She Got the Best of Me,” and the Walker Hayes-recorded “You Broke Up With Me. Writers Rob Snyder, Tia Sillers, Kylie Sackley, Will Bowen and Kelsey Waters are represented in the catalog. –Jessica Nicholson
NASHVILLE NOTES: PLA Media appointed Krista Dykes as senior media relations manager. Dykes began her career in 2007, contributing to communications projects in online insurance and inside the country music industry. She most recently served as media relations manager for the Country Music Association from 2015 to 2023, fostering relationships with national media and TV affiliates, and she’s the founder of the Secret Mom Hacks podcast and Mom Boss Mastermind, a virtual networking group for entrepreneurial mothers … O’Neil Hagaman, LLC promoted Tiffany Wiggers to principal, where she will influence the Nashville firm’s productivity and growth while continuing to serve her diverse client base. Wiggers, who began as an intern in 2004, is a current member of the Tennessee and Nashville Bar Association’s Entertainment Divisions, as well as the Gospel Music Association and the Country Music Association.
Big Loud Rock appointed Jenn Essiembre as senior vp of A&R. Reporting to Big Loud partner Joey Moi and GM Lloyd Norman, Essiembre will lead the label’s A&R strategy, focusing on talent identification and development. Essiembre previously served as vp at 300 Publishing, a division of 300 Entertainment, where she signed and developed artists and songwriters like Sean Momberger, Hunxho and Spencer Jordan. Her career began at ole Music Publishing, where she facilitated placements for stars like Sam Smith, Justin Timberlake, and Maluma. Essiembre expressed enthusiasm for her new role, aligning with Big Loud Rock’s artist development values, while Moi praised her energy, expertise and vision. “From our first conversation, I knew she’d be the right fit for this role,” he said.
Independent publisher OTM Music has appointed Emmy Feldman as U.S. head of A&R. Feldman brings extensive music experience, having helped open the Brooklyn outpost of Rough Trade before spending seven years in A&R at Atlantic Records and Canvasback Music. She then moved to Heavy Duty, where she managed a roster of songwriters, producers, and artists, including Buddy Ross and BJ Burton. In July of this year, she joined OTM, managing a roster that includes Dot Da Genius, Metronomy, Sub Focus, Still Woozy and Hemlocke Springs. OTM Music, launched by CEO Alex Sheridan in 2017, supports a roster of songwriters who have collaborated with SZA, Travis Scott, and A$AP Rocky. Recent high-profile deals include Kid Cudi producer Dot Da Genius, Sub Focus, and partnerships with artists like Sudan Archives and HONNE. Operating in London, New York, and Los Angeles, OTM also named Kristin Genovese as U.S. Head of Sync and added Kate Sweetsur and Ethan Mizen to its UK A&R team.
Hook, a new AI-powered social music app centered on remixes and mashups, expanded its leadership team with four key appointments. Katerina Kosta, formerly of TikTok/ByteDance and Jukedeck, joined as head of AI to develop ethically-trained AI tools that enhance music creativity while ensuring fair artist treatment. Grammy-nominated engineer Prash Mistry is now head of audio development and UK general manager. Karan Bhatnagar, previously head of digital at Three Six Zero management, stepped in as head of artist and creator strategy to support artist campaigns. Ed Pak, with a decade of industry experience and involvement in Saavn’s acquisition by Reliance Jio, is taking on the role of head of business development and Partnerships. The app, launched on Apple’s App Store this fall, also announced new offices in Los Angeles and London.
SILO Music appointed Marcy Bulkeley as head of sync A&R and music supervision of the publishing, management and sync house. Bulkeley will manage sync licensing and music supervision for film, TV, motion picture advertising and emerging media through her venture, Subtle Mother Music Supervision Services. With over 25 years of industry experience, she is known for her expertise in music curation and creative collaboration. Previously, as vp of sync A&R at Universal Music Group, she led custom music and remix projects, earning Clio awards and Guild of Music Supervisors nominations. SILO Music’s CEO, Jack Ormandy, praised Bulkeley’s innovative approach as aligning with the company’s mission to create elevated experiences through music. Under her leadership, SILO aims to expand its reach, delivering bar-none music curation and sync services to clients across multiple industries.
Bootleg, a company specializing in high-end concert recordings, appointed Rohan Adarkar as an equity advisor. The longtime entrepreneur is tasked with helping the company by leveraging his expertise in scaling entertainment tech products and building partnerships with global music stakeholders. In 2003, Adarkar co-founded txttunes, an early text-to-pay service for DRM-free MP3 downloads, which partnered with the American Association for Independent Musicians during the 50th Grammy Awards before its acquisition in 2007. Adarkar also founded totally different, a B2B consultancy, and advises the New Zealand government and its Ministry of Arts and Culture. He is a trustee of the Click Foundation, supporting education initiatives.
Splice appointed Jeff Roberto as senior vp of marketing, tasking him with leading global marketing initiatives and expanding the platform’s presence for musicians. Roberto brings extensive experience, including leadership roles at Nodle, DistroKid, and Picsart, where he helped drive a $130 million funding round and a $1 billion valuation. His career also spans Shazam, Napster, MAGNIFI and Astralwerks Records. Roberto aims to enhance Splice’s impact through innovative AI tools and brand growth. CEO Kakul Srivastava commended Roberto’s industry expertise and commitment to creative communities, emphasizing Splice’s AI roadmap as transformational.
Various Artists Management elevated Rebecca Dixon to global head of marketing & general manager UK. Dixon, previously head of marketing and promotions, will now split her time between VAM’s London and LA offices, reporting to CEOs David Bianchi and Matt Luxon. In her expanded role, Dixon will oversee UK marketing and audience development, deepen her involvement in LA, and strengthen partnerships across Europe. Over her decade-long tenure with VAM, she has led innovative campaigns for artists like Ashnikko, Tom Grennan, and The Libertines. Her promotion follows her recognition as the Trailblazer: The Richard Antwi Award winner at the Music Business UK Awards.
Fixated, a digital entertainment company launched in early 2024 by former BMG North America president Zach Katz and creator economy exec Jason Wilhelm, has added key hires to its executive and talent management teams. Jeff Shaivitz (svp of business and sales), Kou Chaichian (vp of brand partnerships) and Daniel Coughlan (head of content development) bring extensive expertise to support the company’s growth. Additionally, new talent managers Anooj Desai, Kasia Turek and Kyle Rooney have joined to oversee Fixated’s growing roster of top digital creators.
ICYMI:
Cara Donatto
Cara Donatto is appointed evp of media strategy for Atlantic Music Group, overseeing publicity and communications strategy and execution … BMG promoted Katie Kerkhover to the role of svp of A&R, Frontline Recordings in North America … Troy “Tracker” Johnson is launching TRACK mgmt following nearly 10 years with Big Loud … Sony Music UK hired former UMG exec Azi Eftekhari as its COO, in charge of key areas, including the label’s Commercial Group. [KEEP READING]
Last Week’s Turntable: UMG Touts Liszt of Promotions in Classics Group
Paul Robinson, Warner Music Group’s executive vp/general counsel, will be recognized on Friday, Jan. 31, when the Recording Academy Entertainment Law Initiative (ELI) hosts its annual Grammy Week luncheon at the Beverly Wilshire Hotel in Beverly Hills. Robinson will receive the 2025 ELI Service Award.
“As a part of its mission, the Recording Academy works to advocate for creators, and the Entertainment Law Initiative advances this through legal representation, celebrating the achievements of entertainment law practitioners, and providing year-round educational opportunities to cultivate future leaders in the field,” Harvey Mason jr., CEO of the Recording Academy, said in a statement. “Paul exemplifies these values, and we are proud to honor him … for his three decades at Warner Music Group, where he has championed fair practices and guided the industry through transformative changes.”
Robinson joined Warner Music Group’s legal department in January 1995 as associate general counsel. In December 2006, he was appointed to his current role, in which he is responsible for WMG’s worldwide legal, business affairs, public policy, compliance and corporate governance functions. Before joining WMG, Robinson was a partner at the New York City law firm of Mayer, Katz, Baker, Leibowitz & Roberts.
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The Entertainment Law Initiative was established by the Recording Academy to foster discussion on legal issues shaping the music industry. Each year, the recipient of the Service Award is selected by the ELI’s executive committee.
The ELI Grammy Week Luncheon also recognizes the winner and runners-up of the Entertainment Law Initiative writing competition.
Individual tickets, along with a limited number of discounted student tickets, will be available for purchase on Wednesday, Dec. 11. For more information, visit https://www.recordingacademy.com/entertainment-law-initiative.
Grammy Week culminates with the 67th Annual Grammy Awards at Los Angeles’ Crypto.com Arena on Sunday, Feb. 2, broadcasting live on CBS and streaming live and on-demand on Paramount+ from 8-11:30 p.m. ET/5-8:30 p.m. PT. Prior to the telecast, the Grammy Awards Premiere Ceremony will be held at the Peacock Theater at 12:30 p.m. PT/3:30 p.m. ET and be streamed live on live.Grammy.com and the Recording Academy’s YouTube channel.
Primary Wave has partnered with Itzhak Perlman, buying a stake in the violinist’s royalties from the dozens of recordings he has issued or appeared on in his five-decade-plus career, the company tells Billboard. The agreement also includes image and likeness rights. Terms of the deal were not disclosed.
According to Luminate, Perlman’s U.S. album consumption totals about 469,000 units. He’s also received 47 Grammy nominations, winning 16 times, according to Primary Wave. Other honors include a Presidential Medal of Freedom, a National Medal of Arts, a Medal of Liberty, four Emmy Awards, a Kennedy Center Honor and a Grammy Lifetime Achievement Award.
As part of the deal, Primary Wave’s marketing team and publishing infrastructure will work closely with Perlman on new marketing, branding, digital and synch opportunities, as well as film and TV projects.
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“I am excited to work with Primary Wave to see what plans they develop to take care of my recordings and to see what new opportunities they bring to the table,” Perlman said in a statement.
The deal covers such recordings as “Vivaldi: Four Seasons – Spring,” “Vivaldi: Four Seasons – Winter” and “Vivaldi: Four Seasons – Summer” as well as “Black Orpheus: Manha De Carnaval,” “24 Caprices, Op. 1,” “Concerto For Violin and Orchestra I,” “Violin Concerto, Op. 35” and others.
“Itzhak Perlman is hands-down the greatest violinist of our time,” Lexi Todd, vp of business & legal affairs at Primary Wave, said in a statement. “It is a true honor to have had the pleasure to work with Mr. Perlman and his team on this partnership, and we are all looking forward to working together on new opportunities to spread his undeniable musicianship and his incredible story.”
A new live experience for movie fans, combining cinema with famous film scores and soundtracks, is launching at Hollywood Park near SoFi Stadium in Los Angeles.
Launched by theatrical production group For The Record, CineVita is a first-of-its-kind “Live Cinema” venue, housed in the world’s largest Belgian Spiegeltent tent, measuring in at 15,000-square-feet. The traveling venue features 3,000 hand-beveled mirrors, hand-cut stained glass windows, and ornate wood-carved detailing and built by the Rik Klessens in collaboration with Emmy Award-winning designer Matt Steinbrenner.
CineVita opens Jan. 21, 2025 with debut show, Tarantino | Pulp Rock, celebrating the 30th anniversary of Pulp Fiction and Quentin Tarantino’s cinematic universe with a high-octane 360-degree concert experience. Tarantino | Pulp Rock intertwines iconic scenes and soundtracks from all nine of Tarantino’s films—Reservoir Dogs, Pulp Fiction, Kill Bill, Jackie Brown, Death Proof, Inglourious Basterds, Django Unchained, The Hateful Eight, and Once Upon a Time in Hollywood—reimagined and performed by a live band and cast of exceptional artists performing songs including “Stuck in the Middle with You,” “Bang, Bang, My Baby Shot Me Down,” and “Girl, You’ll Be a Woman Soon.”
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“For over a decade, I’ve watched For The Record grow into something truly special—an inventive, nostalgic celebration of cinema and music,” said actress and long-time supporter Demi Moore, noting she learned of CineVita from her oldest daughter.
“When Rumer first joined this talented group of artists, I saw firsthand the sense of community and creativity they fostered,” Moore added. “Now, with CineVita, that vision has reached new heights. The idea of stepping into a beautiful, handcrafted tent and escaping into the golden age of cinema is pure magic. It’s a nostalgic journey through our favorite films, but it’s also about something deeper—bringing people together to share a common experience, much like the movies have always done. I’m so proud to help bring this unique vision to life and service audiences across the country from LA to NY and beyond!”
The CineVita will remain in Los Angeles through mid-summer before embarking on a national tour across the United States. Following Tarantino | Pulp Rock, For The Record will bring to life additional signature productions from its catalog, paying tribute to legendary directors like John Hughes, Baz Luhrmann, the Coen Brothers, Paul Thomas Anderson, Martin Scorsese, Robert Zemeckis, and Garry and Penny Marshall. These shows—each a cornerstone of the For The Record legacy—will deliver unforgettable live cinema experiences to Los Angeles audiences before setting off to captivate the nation.
“Hollywood Park was envisioned as a premier destination for unforgettable events, and we are thrilled to add the world premiere of CineVita to this dynamic space,” said Jen Sandstrom vp of programming and booking, SoFi Stadium and Hollywood Park. “This genre-defying experience will transport our community and visitors alike into the golden age of cinema through live performances, celebrating the arts and further establishing Hollywood Park as a vibrant destination.”
“As a theater kid at heart, I immediately saw the incredible potential of CineVita,” said Whitney Kroenke Silverstein, daughter of LA Rams and Kroenke Sports and Entertainment owner Stan Kroenke. “This project brings together so many aspects of my life—from my love for live performance to my commitment to using music as a vehicle for positive impact. Hollywood Park and SoFi Stadium provide the perfect backdrop for CineVita’s world debut. This project reflects KSE’s dedication to making Hollywood Park and Inglewood a vibrant hub for cultural events, and I’m thrilled to help make that vision a reality.”
Tarantino | Pulp Rock is directed and adapted by Anderson Davis, with music supervision and arrangements by Jesse Vargas, choreography by Sumie Maeda, and costume design by Steve Mazurek. CineVita’s design team includes lighting design by Emmy Award-winner Mike Berger, and sound design by Tony Award nominee Joshua Reid.
The Moët & Chandon VIP Experience at the CineVita will feature premier seating, table service, complimentary champagne and European-inspired treats, curated by DLS Events to complete the full sensory journey. With every seat in the house offering an exceptional view, CineVita makes this groundbreaking experience accessible to everyone.
Tickets for this limited engagement go on sale to the public on Friday, December 6 at 10 a.m., with a special pre-sale starting today, December 3. Performances begin on January 21.
Tickets are available at TheCineVita.com. Performances are Tuesday-Sunday at 8PM. Matinees on Saturday and Sunday at 3PM. Ticket prices range from $49-$225. VIP packages are also available. CineVita is located at 1248 S. District Drive in Inglewood, CA near The Shops at Hollywood Park.
After closing multiple deals in the past several months, Prediction Enterprises has officially launched as a music rights management company. Co-founded by industry veterans Matthew Limones and Nicolás González, the firm focuses on the rights and revenues of top music industry creatives and rights owners.
“I’m proud to have been able to found a company that offers essential and meaningful services in the sector of the business where I saw the need,” said Limones, CEO, in a press release. “After my tenure as an executive at one of the most important collective management organizations in the world, I saw an opportunity to jump in and start an operation that managed the rights and revenue of creatives that grew their business on the recorded music side.”
The company provides services for labels, publishers, artists, producers, and songwriters, and negotiated “multi-million dollar transactions of music catalog rights” and deals for top names that include Pitbull, Natanael Cano, Gerardo Ortiz, Sech, Darell, Belinda, Gabito Ballesteros, Cristian Castro, Nacho, Fariana, Lit Killah and brands such as Latin music festival Vibra Urbana and media company Rapeton.
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González, COO, added in the press release, “Many creative artists’ music careers move very fast and don’t have time to understand and learn which music rights belong to them or where to start claiming their rights and collecting their royalties. We saw an opportunity to help them.”
Limones brings a rich background in music technology, policy and label management to his role as CEO of Prediction Enterprises. Before co-founding the new company, Limones served as vp of artist relations at RichMusic; he was also the director of marketing at Universal Music Group/Capitol Latin, and manager of artist and label relations at SoundExchange, where he expanded the company’s Latin digital footprint. Limones has been featured on Billboard’s 40 Under 40 list and is a Billboard Latin Power Player alum.
González also offers a diverse background in tech, music business, and production to his role as COO. Before this, the exec was integral to the Uruguayan pop group Rombai, contributing as a music director, composer and producer. His work earned him accolades including the Uruguayan Music Graffiti Awards and honors from the Viña del Mar International Song Festival. He also serves as vp of the Music Managers Forum in Miami.
Check out Prediction Enterprises’ official website here.
FACTOR Canada says it has fallen victim to serious cyber theft.
Court filings by the music funding body, The Foundation Assisting Canadian Talent on Recordings, reveal claims that $9.8 million was stolen from a Scotiabank account earlier this year.
FACTOR distributes millions in funding to thousands of artists and music organizations in Canada — last year, the organization dispensed $50 million. Now, it’s alleging that an amount equivalent to nearly a fifth of that annual distribution was transferred by a cyberthief to a numbered company.
James Campagna, shareholder for said company, then allegedly transferred $9.4 million to a cryptocurrency-owned account and converted the funds into crypto.
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Today (Nov. 29), a hearing took place at the Ontario Superior Court of Justice on the matter.
In a statement on the foundation’s website titled “FACTOR’s Response to the Scotiabank Cybertheft: The Facts,” the company clarifies its side of the story that was reported on in the media and says that it aims to “defend the baseless allegations being made by Scotiabank against our systems and staff.”
“It is true that FACTOR has been a victim of a significant financial crime that occurred on June 12, 2024, by way of a one-time fraudulent wire from our Scotiabank account on ScotiaConnect in the amount of $9,772,875.33,” the statement reads.
But the response from FACTOR adds new details to the story, particularly in regards to Scotiabank’s involvement.
The organization says it reported the crime to law enforcement on June 14, but that Scotiabank “has acknowledged it has never reported this financial crime to law enforcement.”
The statement also asserts that the money transfer was 300x larger than any transfer previously made from that account, “with no alerts to FACTOR of this highly unusual, suspicious, and illegal activity.”
If the funds aren’t recovered swiftly, there’s reason to be concerned that artists — who rely on FACTOR funding for recording, music video production, touring and more — could be affected.
More on this story as it develops – Rosie Long Decter
Drake Tells Interviewer to Turn Off The Weeknd and Put on Blink-182
Drake’s got a lot of enemies right now.
After Kendrick Lamar released his new album but before news broke of Drake’s two different legal actions against his parent label Universal Music Group and Spotify, the rapper joined Quebecois streamer xQc for a livestream on Kick on Sunday (Nov. 24).
You never know what Drake will say with a live mic, so many fans tuned in to see if he’d have words about the Kendrick beef or any other hot topics. Between confirming an upcoming Australia tour and giving an update on his collaborative album with PartyNextDoor, he also threw some subtle shade at his former friend The Weeknd.
As his song “Starboy” started playing, Drake quickly told xQc to “switch that one off.” When the host asked him why he doesn’t listen to it, he answered “we’re real 6ixers, we don’t listen to that.” He told him to turn on Blink-182 instead. “I want to hear that real sh-t,” he said over the sounds of “Dammit.”
The Weeknd was born in Scarborough, Ontario, a district of Toronto, a.k.a The 6ix. The Weeknd began his career affiliated with Drake, but the two have had their own long-simmering beef. The Weeknd was spotted in the audience at Kendrick Lamar’s “Pop Out” concert on Juneteenth, which included performances of all of the rapper’s diss tracks and multiple performances of the scathing “Not Like Us.”
Former Toronto Raptor DeMar DeRozan was also at that concert. That clearly upset Drake, who called him out on a recent game broadcast. Evidently, he still has beef with The Weeknd too.
Drake didn’t address Kendrick or his new album by name, but did reference Kendrick and his “false accusations” indirectly. “You need facts to take me out, fairy tales won’t do it,” he said. –Richard Trapunski
Universal Music Group’s Virgin Music Group struck a global distribution and marketing partnership with Brooklyn-born independent label Partisan Records, which is home to IDLES, PJ Harvey, Blondshell, Cigarettes After Sex, Laura Marling, Ezra Collective and more. Partisan also includes the imprints Desert Daze Sound and section1. The deal follows Universal’s acquisition of Partisan’s longtime partners [PIAS] and [Integral] last month. “The combination of the Virgin and [Integral] teams allows for Partisan to marry the best of the [PIAS] and [Integral] teams that helped get us here with the extra resources of Virgin required to meet our ambition to be the most trusted music company for artists of all genres, worldwide, said Partisan COO Zena White in a statement.
SoundExchange and the South African Music Performance Rights Association (SAMPRA) reached a reciprocal agreement that will see U.S. and South African performers paid royalties for the use of their recordings in the U.S. and South Africa, respectively. This will be the first time U.S. performers are paid neighboring rights when their music is used in South Africa. “This agreement is a result of SoundExchange’s efforts to ensure American creators are treated the same as their South African counterparts in the country,” states a press release on the deal. The multi-lateral agreement, which also includes the AFM & SAG-AFTRA Intellectual Property Rights Distribution Fund, is retroactive to the 2022 distribution period and will also benefit non-featured artists including studio musicians and backup singers. Those non-featured artists will also see South African royalties deposited into the fund, which is administered by the American Federation of Musicians (AFM) and SAG-AFTRA. “This is similar to how, in its U.S. collections, SoundExchange distributes 5% of collected royalties to non-featured artists through the Intellectual Property Rights Distribution Fund, 45% to featured artists, and 50% to rights owners,” the release adds.
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Live Nation acquired a majority stake in Lisbon, Portugal’s 20,000-capacity MEO Arena, marking a major investment for the touring giant in the country. First opened in 1998, MEO Arena will soon be renovated to upgrade premium seating, skyboxes, dressing rooms and concessions. Live Nation also plans to build on the arena’s sustainability efforts to focus on reducing its environmental impact. Daily operations at MEO Arena will remain under its current leadership team. The acquisition follows formal approval by the Portuguese competition authority and is subject to closing conditions. The agreement is expected to be finalized late this year or early next.
Warner Music Group’s merchandise and fan experience division WMX has signed on as the official merch partner for Oasis‘ upcoming comeback tour, Oasis Live 25. The merch offering for the show will include pop-up stores, fan experiences, exclusive brand collaborations and event merchandise. The band is slated to hit stadiums in the U.K., Ireland, North Americ, South America and Australia next year.
Create Music Group acquired Manchester, England-based record label and music publisher Ostereo, which has worked with artists including Joel Corry, J.Fla and Shania Yan. As part of the agreement, Ostereo founder Howard Murphy will exit the company to focus on a new venture, leaving his longtime partners, Ramin Bostan and Nick Kirby, to oversee day-to-day operations.
Dallas-based Regional Mexican label Elegante Records signed a global distribution pact with Warner Music Group’s ADA. The Elegante roster includes Conjunto Rienda Real, La Pócima Norteña and Distinto Norte.
The American Association of Independent Music (A2IM) partnered with artist, songwriter, indie label and distributor funding platform beatBread, effectively providing A2IM members with beatBread’s data-driven funding solutions that enable artist or catalog acquisitions, new release funding and support for general operations and growth. Other benefits include free distribution via Too Lost, free OpenPlay subscriptions and discretionary A&R funds on top of any advances taken (up to 20% of the advanced amount).
Downtown-owned business-to-business distributor FUGA signed a partnership with L.A.-based independent label Mind of a Genius Records (MOAG). FUGA will provide MOAG with its suite of comprehensive services, including digital and physical distribution, synch and licensing opportunities and advanced data analytics. MOAG’s roster includes Mindchatter, Kwaye, Karnaval Blues, Peter $un, and Jordan Astra alongside its frontline releases.
Independent distributor IDOL struck a global partnership with London-based label Full Time Hobby and its alt-rock imprint Hassle Records. IDOL will handle global distribution, marketing and audience development for both labels’ frontline and catalog releases, excluding Germany, Austria and Switzerland. Over 21 years, Full Time Hobby has developed artists including GHOSTWOMAN, Michael Nau, Squirrel Flower, The Saxophones and Casey. Under the deal, IDOL will service new Full Time Hobby releases from artists including Bananagun, Canty and Tunng and new Hassle Records releases from BRUTUS, Dead Pioneers and Jools.
The .MUSIC registry announced on Wednesday (Nov. 27) two new tools to help music creators and professionals manage their digital identities: SmartBadge and SmartPage.
The SmartBadge, a digital badge similar to a blue checkmark seen on social media profiles, uses an embedded watermark QR code that helps protect identities by only linking back to verified, legitimate .MUSIC profiles and content. The SmartPage provides artists with a branded page where they can post an official biography and verified links to social media and the artist’s music at various digital service providers.
“With .MUSIC’s SmartBadge and SmartPage, we are setting a new industry standard for authenticity, security, and connection within the global music industry,” Constantine Roussos, the founder/CEO of .MUSIC, said in a statement. “This is a significant leap in the digital music identity space, providing the music community with enhanced brand protection and promotion opportunities, while fostering trust and transparency across the entire music ecosystem.”
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“I have seen the industry change a lot over the years, but this .MUSIC thing? It is next level,” said Fred Durst, frontman of Limp Bizkit. “It is not just about stopping fraud. It is also about creating a trusted space where we can connect with fans without worrying about imposters or scams. It is a game-changer for artists at every level.”
In her own statement, songwriter and recording artist Skylar Grey said she’s attracted to .MUSIC’s potential to help musicians receive the royalties they are due. “It always bums me out that I do not own SkylarGrey.COM,” Gray said. “Now, a verified .MUSIC feels more official than a .COM. I am excited to see how having a verified MusicID can also be used by the global music industry to help musicians get paid and solve the problem of unclaimed black box royalties.”
“Finally, artists can get their verified music identity and be trusted,” added Elliott Taylor, a recording artist and songwriter for artists such as Celine Dion and Eminem. “.MUSIC is much needed because it guarantees that an artist’s identity is truly and undeniably authenticated.”
After a lengthy process to win industry support and beat out other interested parties such as Google and Amazon, .MUSIC began offering top-level domains in October. Unlike the familiar .com domain, .MUSIC domain names are available exclusively to the music community, just as.gov and .edu domains are reserved for proper entities in government and education, respectively. Artists, songwriters, producers, other industry professionals and music companies all have the option of acquiring .MUSIC domains.
Another feature offered by .MUSIC is a single sign-on to access the .MUSIC ecosystem and other digital service providers. Using a secure set of credentials is meant to enhance security for creators, reduce the chance of data breaches and make on-boarding easier for music organizations, collection societies, digital service providers and distributors.
You can check out Limp Bizkit’s SmartBadge and SmartPage for examples of the new products.