Business News
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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.
Charles Goldstuck‘s GoldState Music is quietly bulking up thanks to two back-to-back catalog acquisitions in the last six months.
According to sources, GoldState has laid out some $200 million to acquire portfolios of music publishing and recorded music royalty income streams from two boutique music asset investment firms: CatchPoint Rights Partners in a deal that sources say closed in the last month; and AMR Songs, whose catalog GoldState acquired earlier this year.
The CatchPoint portfolio includes stakes in songs like Kanye West‘s “Flashing Lights,” Sheryl Crow‘s “If It Makes You Happy” and Panic! At The Disco‘s “I Write Sins Not Tragedies,” along with slices of songs and/or recordings by the likes of Brantley Gilbert, Smash Mouth, Avril Lavigne and others.
Meanwhile, the AMR catalog includes John Sebastian’s writer’s share of all of his The Lovin’ Spoonful songs, including “Summer In the City,” “Daydream” and “Do You Believe In Magic,” as well as all rights from Sebastian’s solo catalog, which includes “Welcome Back.” AMR has also made investments in SOJA’s catalog, from the band’s inception through 2020 — covering music publishing and artist royalties and various master recordings — as well as stakes in songs by the likes of Macy Gray and Ivan Neville.
While the above list includes artist names, the two firms have also invested in co-writer shares of songs or producer points on artist royalties — and their websites don’t always specify, when citing song and recording investments, which assets have been acquired.
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All told, the two firm’s catalogs each had about $7 million in annual income, or a combined $14 million, in a combination of music assets that split about 50/50 active and passive income, sources say. (Passive income would be the writer’s share of a song owned and controlled by a publisher or an artist’s royalty income stream from a master recording owned by a label. Active income would be ownership of the song publishing and/or the master recordings.)
Goldstuck has a long history in the music industry, having held senior executive positions at such labels as Arista Records, Capitol Records, J Records and RCA before becoming president/COO of the Bertelsmann Music Group. More recently, he was co-chairman of Hitco Entertainment, which was sold to Concord. Moreover, Goldstuck is the founder of The Sanctuary At Albany, which is described as a state-of-the-art recording studio in the Bahamas, and is also currently the executive chairman of TouchTunes Interactive Networks, the digital jukebox company with over 80,000 locations, according to his LinkedIn profile.
The GoldState Music website says Goldstuck founded the GoldState investment firm in 2022 and lists Flexpoint Ford, Pinnacle Financial Partners and Regions as its financial backers. The website also lists TouchTunes, The Sanctuary at Albany and Create Music as part of the GoldState Music growth portfolio. In June, GoldState Music participated in Flexpoint Ford’s $165 million funding round to Create Music Group, although the amount it invested was undisclosed.
Prior to making its latest catalog acquisitions, Goldstuck began by acquiring music intellectual property rights on its own, including by buying — based on the GoldState website — the rights of music by recording artists such as EDM DJ/artist Alan Walker, Christian group Anberlin, pop singer Daya, punk band Dead Kennedys and legendary soul singer Sam Moore, among others. The company’s website doesn’t specify which rights of those artists it has acquired.
In moving on to bigger acquisitions like its recent CatchPoint portfolio and AMR Songs deals, Goldstate so far appears to be eschewing iconic songs and catalogs that trade for frothy prices and multiples and instead has chosen to buy the catalogs of two firms, which separately on their own pursued niche genres and name artists — but not superstars — whose music rights assets produce steady income streams that trade at more reasonable price points.
CatchPoint was founded in 2020 by former BMI executive Rich Conlon, Wall Street executive Patrick Riordon and PJ Miklus, a business executive with a background in finance and the music industry. Sources suggest that CatchPoint sold its portfolio of songs to GoldState as a proof-of-concept to potential investors. Sources add that the firm didn’t sell all of the music assets in its catalog and has funding for further music asset acquisitions.
Meanwhile, AMR was founded by Tamara Conniff, a former music publishing executive at such firms as Roc Nation and Artist Publishing Group, and Wall Street private equity executive Steve Reinstadtler. According to the GoldState website, Conniff and some of her team have joined the GoldState staff.
Executives at GoldState, Catchpoint and AMR either didn’t return phone calls seeking comment or declined to comment on the transactions.
Royel Otis, the Australian duo that recently earned its first Billboard Hot 100 entry with a viral cover of The Cranberries’ “Linger,” is now in the Capitol Records system after the band’s independent label, Ourness, struck a partnership with the U.S. label to supercharge the success of the duo worldwide. According to a press release, Royel Otis has racked up more than half a billion streams to date. Other successful tracks for the duo include “Sofa King” and a cover of Sophie Ellis-Bextor’s “Murder on the Dancefloor.”
Hip-hop label Mass Appeal Records, co-founded by Nas, moved into Pakistan with the signing of two of the country’s biggest stars — Talha Anjum and Umair — along with emerging artists JANI, Maanu and Blal Bloch. Mass Appeal’s entry into Pakistan follows its previous expansion into India, where it’s partnered with artists including DIVIE, AP Dhillon and Karan Aujla.
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R&B star Omarion partnered with Jeanine McLean and Jeff Robinson at MBK Entertainment, which has guided the careers of Alicia Keys, H.E.R., Elle Varner, SWV, Tyrese and more. According to a press release, the singer has “a bevy of projects in the pipeline” and is slated to co-headline The Millennium 2025 Tour also featuring artists including Trey Songz and Rick Ross.
Anthony Martini and Rich Barner‘s Gravel Road Music Group signed singer Willie Jones, known for blending country, hip-hop and soul. Jones has a forthcoming project slated for release early next year.
Warner Music Nashville and Warner Records signed Adrien Nunez to the roster. The Brooklyn native recently released his major label debut, “Apology Song,” which blends country, pop and hip-hop elements. He is managed by Dillon Goldberg at FNGRPRNT and booked by Braeden Rountree at WME. – Jessica Nicholson
Capitol Christian Music Group and Motown Gospel partnered with singer Annatoria to release her upcoming Christmas EP, Present Jesu. Additionally, Motown Gospel finalized a partnership with JJ Hairston‘s JamesTown Music, through which it will release a 25th-anniversary live recording of JJ Hairston and Youthful Praise — an album featuring reimagined versions of the choir’s songs.
Provident Entertainment added singer-songwriter Megan Danielle to its roster. The 2023 American Idol runner-up has released her label debut single “When I Found You.” Danielle is managed by Hsquared Management and booked through the Jeff Roberts Agency. – Jessica Nicholson
Big Machine Records signed Jack Wharff & The Tobacco Flatts, a group with Virginia origins that blends bluegrass, country and rock. The group, which features musicians Jack Wharff, Garrett Howell, Ryan Atchison and Evan Novoa, recently released its new single, “Picture Perfect.” Big Machine Records’ roster also includes Tim McGraw, Carly Pearce and Midland. – Jessica Nicholson
Cloakroom signed to Closed Casket, which will release the band’s new single, “Unbelonging,” with a full album coming next year. The group is booked by Geoff McGovern at Ground Control Touring.
YawnyBlew and amir. partnered with ALIBI Music to release their second album, Bouncy ‘n’ Pretty. The album follows their debut project, DREAMBIIG, a collection of songs crafted specifically for synch and licensing. YawnyBlew has enjoyed synch placements in Empire, Queer as Folk, Chucky and The Sex Lives of College Girls. amir. is a photographer and creative director who pivoted to the role of artist and producer during the pandemic.
On Oct. 22, Burning Man CEO Marian Goodell published an urgent message to the global Burner community. The gist? The organization needs to raise a whopping $20 million in charitable donations by the end of the year — or it may need to raise ticket prices for future events.
“We are well past the point where ticket revenues from Black Rock City are able to support our year-round cultural work,” Goodell wrote, explaining that Burning Man Project — the nonprofit behind the annual gathering in Nevada’s Black Rock Desert and other Burning Man-related initiatives — experienced a significant revenue shortfall this year.
Goodell explained that the primary reason behind this shortfall was that Burning Man’s highest-priced tickets for the 2024 festival had not sold “as planned.” Each year since 2016, before the main sale begins, roughly 4,000 Burning Man tickets go on sale for much more than main sale tickets — this year selling at $1,500 and $2,500. These tickets, which are typically purchased by people who have cash to spare and don’t want to risk not getting a ticket during the main sale, usually bring in approximately $7 million — and nearly $10 million in 2023. But a spokesperson for Burning Man Project says that in 2024, higher-priced ticket sales totaled $3.4 million, down nearly $6 million from the prior year.
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“This $5.7M shortfall, combined with a $3M dip in receipts from main-sale tickets and vehicle passes, means that our year-end charitable donation target has essentially doubled to nearly $20M,” Goodell wrote.
The financial issue was compounded when Burning Man 2024 failed to sell out, with organizers pointing to the generally soft 2024 festival market and the fact that after two difficult years — temperatures reached a grueling 103 at Burning Man 2022 while rain created issues in 2023 — many people opted to stay home. Goodell says all ticket tiers saw decreased sales in 2024 and estimated that attendance was down by roughly 4,000 this year, bringing total attendance to approximately 70,000.
“The drop in the population, but particularly around the higher price tickets, simply pushed us into a spot that I knew we were going to be in,” Goodell says, explaining that she and the team had seen this financial turning point coming for several years as production costs increased.
Burning Man typically relies on $10 million in charitable donations every year, with a varying number of full-time staff dedicated to philanthropy, depending on current projects and time of year. Now, given the doubled demand for donations in 2024, the organization has launched a new fundraising model through which people can subscribe to make a monthly donation, with one-off donations also being accepted.
Goodell declines to give a number for how much money has been raised over the last month but says engagement with the new model has been high and that Burning Man is “at a record for recurring gifts.” The organization is also seeing new donors “coming in at decent amounts,” she says.
Still, not everyone in the community has been enthusiastic about the request. The comments on Goodell’s post and social media have veered toward critique, with some accusing her and the organization of mismanaging funds, despite Burning Man sharing information and tax filings about the tax-exempt organization’s annual revenue and expenses for the last decade. For 2023, Burning Man cited $63.6 million in total expenses, with $43.8 million of that spent on Black Rock City and the rest spent on art, civic engagement, administration and fundraising efforts.
“I like reading Reddit because it’s really mean,” Goodell says with a laugh about the comments on her announcement, all of which she’s read. “I really process it all as people having an incredible amount of passion. If they didn’t, we wouldn’t be Burning Man.”
Some commenters have accused the organization of spending unnecessary money on Burning Man Project-related projects including the disaster relief volunteer group Burners Without Borders and programming at Fly Ranch, a 3,800-acre property near the Black Rock City site that the organization bought for $6.5 million in 2021. But Goodell says there is “absolutely” a misperception that these projects use more money than they do, adding that the initiatives are largely funded and run by groups of independent Burners and that their cost accounts for less than 4% of the organization’s total programming dollars. “So even if you get rid of them,” she says, “you still haven’t solved the budget problem whatsoever.”
The general consensus from commenters is that they want the focus of the organization’s expenditures to be on Black Rock City itself. To that end, says Goodell, the amount of money raised through the end of the year will determine the price of Burning Man 2025 tickets. As she explains, the price of many Burning Man tickets is subsidized by tickets that sell at a higher price. These higher-priced sales have made it possible for Burning Man to sell main sale tickets at $575 since 2022, an increase from $475 in 2019. (Burning Man didn’t officially happen in 2020 or 2021 due to the pandemic.) Without this subsidy, Burning Man estimates those $575 tickets would be priced at $749.
“If we don’t set ourselves up right, we’re going to have to raise ticket prices,” Goodell says, “[especially because] we don’t have the sponsorships that the other festivals do. And I’d like to lower ticket prices.”
With respect to prices for the 2025 event, a Burning Man Project spokesperson tells Billboard that current fundraising “will inform operational decisions including pricing for Black Rock City 2025. Philanthropy, which is key to subsidizing ticket prices, helps us avoid a situation where the cost of a ticket prevents a community member or new Burner from coming to Black Rock City.”
To save money, the organization has looked at, Goodell says, “all the ways we can be working better with resources” by reviewing all expenditures from Black Rock City electricity use to medical facilities to the number of toilets rented. She adds that the landlords of Burning Man Project’s San Francisco office have “been really flexible” in adjusting their rental agreement to provide them with “a little relief.”
With many tech billionaires, movie stars and other one-percenters all trekking to Burning Man every August, there’s also presumably a short list of rich Burners who could solve the current financial shortfall by donating a million or two. But Goodell says that’s not the point.
“Just going to major donors right now without having an outside world narrative doesn’t make any sense,” she says. “It’s not like the pandemic where we’re short, so we call up a couple people… We need to build a narrative and a conversation about what we’re doing for the long term. That’s why we’re creating this public conversation, which is not something we’ve typically done.”
The idea, Goodell says, is that creating widespread community engagement via information sharing and the subscription model will help set up Burning Man for the long run. In making this point, she emphasizes that many cultural institutions — ballets, operas, museums, etc. — rely on patrons who believe in the cause and underwrite costs. As she puts it, “I want to get through this moment [to a place] where people get excited and feel good about the philanthropic nature of Burning Man culture.”
Raising this money is especially crucial given that Burning Man has a strict no-sponsorships policy that’s part of its “decommodification” principle — one of 10 principles that guide and shape the event. Burning Man doesn’t have a merch stand or sell t-shirts or posters on its website; the only thing one can buy onsite is ice. (This cash transaction-free setting of course strongly contrasts with the typically high price of attending the event in the first place.)
“We’re deliberately creating an environment that brings people together so that they can collaborate, create art and do it without interference from transactions or from commerce,” Goodell says. “We’re going to keep protecting that.” She adds that this decommodification principle is so entrenched that when Ben & Jerry’s cofounder Ben Cohen came to Burning Man and drove around giving away ice cream, he used an unmarked truck and cups without a logo.
“[People from] Coachella, from Outside Lands, Bonnaroo, Glastonbury, they’ve all come to Burning Man, and they’re all like, ‘You’re crazy. You don’t have sponsorships? How the f— do you guys do it?’” says Goodell. She adds that the producers of one California festival with corporate sponsorships told her their event gets 25-30% of its total income from, as she puts it, “forms of commerce that Burning Man has banned.”
While the current financial situation is creating questions about the viability of Burning Man 2025 and beyond, Goodell says that the event “has to happen, and it will happen, because that’s who we are.” In true Burner spirit, she speaks of the current need as an opportunity to set Burning Man up for the future: to create more art, to bring a more diverse group of participants to the event and to spread Burning Man culture around the world.
“There are definitely some skeptics out there,” she says. “But what we’re hearing is the majority understand that we’re a nonprofit and that we’re depending on financial support to accomplish the mission.”
When Brookfield Asset Management invested $2 billion in Primary Wave roughly two years ago, a representative from the Canadian fund predicted that just as there has been a wave of comic book superhero movies, there would a wave of musician biopics.
“Music is going to be like the Marvel and DC comic catalogs,” Angelo Ruffino, who was then the managing partner at Brookfield behind the Primary Wave investment, said in October 2022. “There are just so many ways to monetize music that I think are in the early innings.”
Hollywood has churned out superhero films, from Batman to Black Panther, but the genre has been drawing smaller audiences of late. With a flurry of music biopics set for release in the next few years — including feature films about Bob Dylan, Michael Jackson, Bruce Springsteen, Queen Latifah, four films about each member of The Beatles, and maybe one about The Bee Gees — have we reached peak biopic?
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The top post on Reddit’s subreddit page about Dylan as of this writing is titled, “On not being interested in A Complete Unknown,” and it is far from the only gripe about dramatizations of currently touring musicians on the Internet.
However many factors are contributing to a packed pipeline of musician biopics, and consumer demand just one. By that measure, many recent music biopics have been hits. About half of the 25 highest grossing music biopics of all time, according to boxofficemojo.com, were released since 2014, with Bohemian Rhapsody about Queen at No. 1 with $216.4 million, Straight Outta Compton about N.W.A. at No. 2 with $161.2 million and Elvis at No. 3 with $151 million all in gross revenue in the United States.
Natalia Nastaskin, chief content officer at Primary Wave, which as involved with the 2022 release “Whitney Houston: I Wanna Dance With Somebody”—No. 24 in the top 25 grossing biopics—says demand remains high. But the years it can take to land the starring actors, directors and producers essential to making a hit movie may mean these films continue to trickle out over the coming years.
“I do think we are going to see more of these biopics because we are always fascinated by the stories of our rock stars and the behind-the-scenes story of their lives,” Nastaskin tells Billboard. “How many more biopics will we see? Really hitting that cultural zeitgeist may take several years.”
Primary Wave is currently involved in biopics about Boyz II Men and Boy George—both in production.
Another factor that has the potential to disrupt the normal line between demand and supply are the different ways Hollywood and the music industry make money off these films. Hollywood defines a successful movie by the revenue it grosses; the music industry is more interested in how it drives moviegoers to stream the music, buy merch and the tangential licensing opportunities delivered by the music’s resurging relevance.
By those definitions, Elvis was a smash. All of the activity that the Baz Luhrmann biopic drove for Elvis’s music and brand boosted the Presley estate’s estimated value to around $1 billion 2022 from an estimated $400 million to $600 million in 2020.
It may take years to measure the impact of Timothée Chalamet’s portrayal of Bob Dylan on his catalog, at least until 2025, which is when the Michael Jackson biopic is slated for release. With The Beatles films expected in 2027, there seems like no shortage of musician biopics to come.
Senator Peter Welch (D-Vt.) introduced the Transparency and Responsibility for Artificial Intelligence Networks (TRAIN) Act on Monday in the latest effort to shield songwriters, musicians and other creators from the unauthorized use of their works in training generative AI models.
If successful, the legislation would grant copyright holders access to training records, enabling them to verify if their creations were used — a process similar to methods combating internet piracy.
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“This is simple: if your work is used to train A.I., there should be a way for you, the copyright holder, to determine that it’s been used by a training model, and you should get compensated if it was,” said Welch. “We need to give America’s musicians, artists, and creators a tool to find out when A.I. companies are using their work to train models without artists’ permission.”
Creative industry leaders have long voiced concerns about the opaque practices of AI companies regarding the use of copyrighted materials. Many of these startups and firms do not disclose their training methods, leaving creators unable to determine whether their works have been incorporated into AI systems. The TRAIN Act directly addresses this so-called “black box” problem, aiming to introduce transparency and accountability into the AI training process.
Welch’s bill is just the latest development in the battle between rights holders and generative AI. In May, Sony Music released a statement warning more than 700 AI companies not to scrape the company’s copyrighted data, while Warner Music released a similar statement in July. That same month in the U.S. Senate, an anti-AI deepfakes bill dubbed the No FAKES Act was introduced by a bipartisan group of senators. In October, thousands of musicians, composers, international organizations and labels — including all three majors — signed a statement opposing AI companies and developers using their work without a license for training generative AI systems.
During a Senate Judiciary Committee hearing earlier this month, U.S. Copyright Director Shira Perlmutter emphasized the importance of transparency to protect copyrighted materials, saying that without insight into how AI systems are trained, creators are left in the dark about potential misuse of their work, undermining their rights and earnings.
Sen. Welch has been active in promoting consumer protections and safety around emerging technologies, including AI. His previous initiatives include the AI CONSENT Act, which mandates that online platforms obtain informed consent from users before utilizing their data for AI training, and the Digital Platform Commission Act, which proposes the establishment of a federal regulatory agency for digital platforms.
The TRAIN Act left the station with immediate widespread support from creative organizations, including the RIAA, ASCAP, BMI, SESAC, SoundExchange and the American Federation of Musicians, among others.
Several music industry leaders praised the TRAIN Act for its potential to balance innovation with an eye on respecting creators’ rights. Mitch Glazier, RIAA chairman & CEO, highlighted its role in ensuring creators can pursue legal recourse when their works are used without permission. Todd Dupler, the Recording Academy’s chief advocacy and public policy officer, and Mike O’Neill, the CEO of BMI, echoed these sentiments, stressing the bill’s importance in preventing misuse and enabling creators to hold AI companies accountable.
David Israelite, president & CEO of the National Music Publishers’ Association, pointed to the TRAIN Act as a vital measure to close regulatory gaps and ensure transparency in AI practices, while John Josephson, chairman and CEO of SESAC Music Group, praised its dual approach of promoting responsible innovation while protecting creators.
Additional endorsements came from SoundExchange CEO Michael Huppe, who stressed the need for creators to understand how their works are being utilized in AI systems, Elizabeth Matthews, CEO of ASCAP, who stressed the need for artists to be fairly compensated, and Ashley Irwin, president of the Society of Composers & Lyricists, who emphasized the bill’s role in safeguarding the rights of composers and songwriters.
Select Music Industry Reactions to the TRAIN Act:
Mitch Glazier, RIAA: “Senator Welch’s carefully calibrated bill will bring much needed transparency to AI, ensuring artists and rightsholders have fair access to the courts when their work is copied for training without authorization or consent. RIAA applauds Senator Welch’s leadership and urges the Senate to enact this important, narrow measure into law.”
David Israelite, NMPA: “We greatly appreciate Senator Welch’s leadership on addressing the complete lack of regulation and transparency surrounding songwriters’ and other creators’ works being used to train generative AI models. The TRAIN Act proposes an administrative subpoena process that enables rightsholders to hold AI companies accountable. The process necessitates precise record-keeping standards from AI developers and gives rightsholders the ability to see whether their copyrighted works have been used without authorization. We strongly support the bill which prioritizes creators who continue to be exploited by unjust AI practices.”
Elizabeth Matthews, ASCAP: “The future of America’s vibrant creative economy depends upon laws that protect the rights of human creators. By requiring transparency about when and how copyrighted works are used to train generative AI models, the TRAIN Act paves the way for creators to be fairly compensated for the use of their work. On behalf of ASCAP’s more than one million songwriters, composer and music publisher members, we applaud Senator Welch for his leadership.”
Mike O’Neill, BMI: “Some AI companies are using creators’ copyrighted works without their permission or compensation to ‘train’ their systems, but there is currently no way for creators to confirm that use or require companies to disclose it. The TRAIN Act will provide a legal avenue for music creators to compel these companies to disclose those actions, which will be a step in the right direction towards greater transparency and accountability. BMI thanks Senator Welch for introducing this important legislation.”
John Josephson, SESAC: “SESAC applauds the TRAIN Act, which clears an efficient path to court for songwriters whose work is used by AI developers without authorization or consent. Senator Welch’s narrow approach will promote responsible innovation and AI while protecting the creative community from unlawful scraping and infringement of their work.”
Michael Huppe, SoundExchange: ”As artificial intelligence companies continue to train their generative AI models on copyrighted works, it is imperative that music creators and copyright owners have the ability to know where and how their works are being used. The Transparency and Responsibility for Artificial Intelligence Networks (TRAIN) Act would provide creators with an important and necessary tool as they fight to ensure their works are not exploited without the proper consent, credit, or compensation.”
Todd Dupler, The Recording Academy: “The TRAIN Act would empower creators with an important tool to ensure transparency and prevent the misuse of their copyrighted works. The Recording Academy® applauds Sen. Welch for his leadership and commitment to protecting human creators and creativity.”
Artist manager and investor Nicholas Parasram and Twitch co-founder Justin Kan have announced a new venture that will offer artist and producer management along with publishing and distribution services, as well as an “incubation lab” — the latter “to help its clients bridge the gap with emergent technologies and develop new IP and businesses,” according to a press release.
Announced Monday (Nov. 22), the venture, called Thin Ice Entertainment, launches with several clients: electronic producer Stryv (“Move,” recently remixed by Camila Cabello); longtime David Guetta and Sia collaborator Marcus van Wattum, who has also produced for Britney Spears, G-Eazy and TWICE; Nigerian producer Zone, whose productions have been featured on tracks by Jason Derulo, Sexxy Red and more; and producer RE/MIND, who worked with Zone and Derulo on the Derulo track “Limbo.”
“At our core, Thin Ice is focused on helping talent create businesses around their IP and ensuring their brands scale in their own unique way,” said Parasram in a statement. “Justin and I started Thin Ice because we want to create a platform for creatives to truly express themselves through their art and help them build a sustainable living from it. Leveraging our combined experience in the startup ecosystem, Thin Ice is also incubating in-house technology products to help talent better monetize, distribute, and create IP. We’ve applied the same principles we’ve used in the startup ecosystem –investing at the earliest stage and focusing on supercharging growth — to the entertainment industry, empowering creatives to take their businesses to new heights.”
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Parasram and Kan originally connected while working together at Kan’s venture fund Goat Capital, which incubated and invested in early-stage tech companies including Stash and Rye. Prior to Goat Capital, Parasram founded Sonar Projects, through which he managed creators, worked on brand marketing campaigns and secured content deals for venture-backed startups. In 2015, he partnered with Stryv to help launch the producer’s career, eventually getting him signed to Artist Partner Group (APG) in 2020.
Kan is best known as the co-founder of Twitch, which was acquired by Amazon in 2014 for $970 million. He serves as a general partner at Goat Capital and was previously a partner at incubator Y Combinator. Over his career, he has invested in more than 100 startups, including Mercury, Ramp, Cruise, Alto Pharmacy, Xendit, Scale, Reddit and Rippling.