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“I don’t know if there’s ever a perfect time to open something like this,” says Jim Davis with a laugh.
Davis, president of audiophile retailer Music Direct, is standing at the front of the newly unveiled Fidelity Record Pressing, a high-end vinyl pressing plant in Oxnard, Calif. And while he doesn’t believe there can be a “perfect” time to open a new pressing plant, he does believe in the “right” time, adding: “Our niche in this industry is the high-quality end, and there’s always room for someone making a better quality product. So I’d like to think it’s the right time because we have the right people who put this plant together, and that’s going to make all the difference in the world.” Plus, as he admits while scanning the state-of-the-art facility during an invite-only preview, it’s “very encouraging that people wanted to see what’s going on here.”
Davis co-founded Fidelity with the father-and-son team of Rick and Edward Hashimoto; the two have over seven decades of pressing plant experience combined and have emerged as leaders in quality and proficiency. Rick sees Fidelity as an opportunity to bring high-end vinyl back into focus. “I think that commercial records have been kind of pushed out the door [lately], and I think it’s important for the vinyl industry to maintain a high-quality presence,” Rick says.
Fidelity Record Pressing Plant
Courtesy of Fidelity Record Pressing
One way Fidelity’s practices help set its products apart are the burnished edges, which Edward says is an “extra hassle” but well worth the quality. “Whether you realize it or not, [the edges of vinyl are] one of first things people notice,” he says. Another way is through the plant’s record cooling process, in which only five vinyl are stacked on aluminum plates (as seen above) to help preserve disc integrity by drying slowly. Specially designed spindles also run through the center to hold each disc and prevent warping.
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But perhaps Fidelity’s biggest differentiator is that the plant presses both vinyl and SuperVinyl, a proprietary compound developed by PVC manufacturer Neotech and Record Technology Inc. (RTI) exclusively for Mobile Fidelity Sound Labs (MoFi). The composition features carbonless dye, resulting in a quieter surface that reduces noise floor and enhances groove definition. (Manufacturing costs for SuperVinyl can be eight times more than regular vinyl.)
After a two-year build, Fidelity officially opened at the start of 2024 as the pressing plant for MoFi; it soon started accepting vinyl orders from outside clients. There are currently six presses (manufactured in Nashville by Record Pressing Machines LLC) that can churn an estimated annual capacity of around 1 million records. Another four presses are on the way (the plant can accommodate a total of 12). As of now, one employee operates up to three machines, with additional employees focusing full-time on quality control, which includes spot listening to every 40-50 records for around 30 minutes.
“If you have a flawed record, you may as well just stream it on Spotify,” says Rick. “But if you have a great sounding record, you’re going to want to play that record over and over and that’s what’s going to keep people coming back to vinyl. It’s got to be great — and I think that’s what we do here.”
Rick and Edward Hashimoto
Courtesy of Fidelity Record Pressing
Sphere Entertainment Co. stock gained 5.4% to $35.04 this week after Point72 Asset Management, the hedge fund of Wall Street giant Steve Cohen, took a 5.5% stake in the company, making it one of the best-performing companies on this week’s Billboard Global Music Index.
Cohen is the owner of the New York Mets professional baseball team. Sphere’s sister company, MSG Sports — James Dolan is CEO of both companies — owns two of the city’s major professional sports franchises, the New York Knicks basketball team and the New York Rangers hockey team. The Sphere venue in Las Vegas will host its first sports event Friday evening (June 28): the National Hockey League draft.
Elsewhere, radio companies Cumulus Media and iHeartMedia gained 9.1% and 9.0% this week, respectively, as radio stocks bested other publicly traded music companies on the Billboard Global Music Index. Both Cumulus and iHeartMedia clawed back nearly half of the losses they suffered in the previous two-week period. After dropping 21.1% from June 7 to June 21, Cumulus finished up at $2.04. Similarly, iHeartMedia had lost 21.1% in the prior two weeks and finished this week at $1.09. Townsquare Media, which is not in the Index, rose 9.2% to $10.93, turning its 5% year-to-date loss into a 3.7% gain.
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Many radio companies are still having a tough 2024, however, as they slog through a challenging advertising climate. Through June 28, iHeartRadio has fallen 59.2% and Cumulus is down 61.7%.
The Billboard Global Music Index was effectively unchanged from the previous week, rising less than one point to 1,815.54. The index’s year-to-date gain was also unchanged at 18.3%. Most of the stocks showed little movement as 16 of the 20 companies fell within the range of +2.1% to -3.4%. Even though 12 of the companies posted gains, the biggest winners are among the index’s smallest companies, and those winners were overcome by losses suffered by larger companies such as Spotify (down 1.1%), CTS Eventim (down 1.3%) and SiriusXM (down 3.4%).
Streaming stocks had the worst week of any sector after losing an average of 0.4%. The top streamer was Anghami, which rose 0.9% to $1.07. Cloud Music and Deezer each lost less than 1%. LiveOne fell 1.3% to $1.57.
Reservoir Media was the week’s greatest gainer after improving 11.9% — 9.6% on Friday alone — to $7.90. The gain came without major news or analyst commentary. The last analyst to increase a price target on Reservoir was B. Riley on May 31, the day after Reservoir announced that its full-year revenue increased 18% to $145 million.
K-pop companies all had modest increases this week. HYBE gained 1.3% to 202,500 won ($146.60). SM Entertainment, also a Billboard Global Music Index member, rose 1.1% to 80,400 won ($54.21). Elsewhere, JYP Entertainment jumped 2.1% to 57,300 won ($41.48) and YG Entertainment sank 1.0% to 40,300 won ($29.18). All four stocks have fallen sharply in 2024, however, with an average year-to-date decline of 22.6%.
Major stock indexes had mixed results this week. In the United States, the Nasdaq composite rose 0.2% to 17,732.60 and the S&P 500 fell 0.1% to 5,460.48. South Korea’s KOSPI composite index gained 0.5% to 2,797.82. In the United Kingdom, the FTSE 100 dropped 0.9%. China’s Shanghai Composite Index declined 1.0% to 2,967.40.
One of Canada’s biggest stars is getting one of the country’s highest honours. Pop-rock star Avril Lavigne has been named to the Order of Canada, a civilian honour that recognizes outstanding achievements and contributions to the country. Lavigne was announced by Governor General Mary Simon yesterday, amongst a list of 83 new appointees that includes scientists, economists, poets and activists.
Lavigne’s appointment highlights her impressive commercial and artistic achievements, as well as her charity work. “With over 50 million albums sold worldwide, she paved the way for female-driven punk-rock music and continues to do so today,” the notice reads, going on to mention her support of individuals living with disabilities and serious illnesses through the Avril Lavigne Foundation.
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The Order of Canada appointment comes as Lavigne is celebrating her successes with Greatest Hits, a new compilation released June 21 featuring platinum singles like “Complicated” and “Sk8er Boi” as well as her Billboard Hot 100 No. 1 “Girlfriend.” Lavigne is one of Canada’s best selling artists.
The Canadian icon is also taking her hits on the road with a major tour, which kicked off in Vancouver in May and begins its second leg in Toronto on Aug. 12 with a sold-out Scotiabank Arena show.
Beyond the charts, Lavigne helped pave the way for a punk-inspired vision of girlhood in the early 2000s, when most female pop stars were embracing a more traditionally feminine image. Lavigne’s brash attitude and white tank top and tie combo cemented her as an icon for a generation of Canadian kids.
Lavigne wasn’t the only musician recognized by the Order of Canada this week. Montreal singer-songwriter Daniel Lavoie was named an Officer of the Order, as were percussionist Beverley Johnston and conductor Kent Nagano. -Rosie Long Decter
Mustafa’s ‘Name Of God’ Named Best Canadian Music Video of the Year, Winning 2024 Prism Prize
Mustafa has become the first two-time winner of the Prism Prize, the award that celebrates the best in Canadian music videos. He has won the 2024 Grand Prize for video of the year for “Name of God.”
Mustafa, also known as Mustafa Ahmed and Mustafa The Poet, also took home the award in 2022 for “Ali.” Both of his winning videos are self-directed. Mustafa’s win comes with a $20,000 prize, the largest monetary award for music videos worldwide.
Mustafa released “Name of God” last year days after penning a letter to Canadian Prime Minister Justin Trudeau urging him to speak for Palestine. The song and video touch on violence and grief as well as the power of community and tradition.
Mustafa isn’t this year’s only winner. Nemahsis has won the fan-voted Audience Award, winning “i wanna be your right hand.” That $2,500 prize goes to both artist Nemahsis and directors Norman Wong and Amy Gardner. The video takes the Palestinian-Canadian artist in a choreographed dance through a restaurant kitchen and into a showstopping empty-room dining hall performance.
Mustafa and Nemahsis beat out a strong shortlist of videos, including clips from The Beaches, Feist, Snotty Nose Rez Kids and more. See the whole list here and check out the four other special award winners here. -Kerry Doole
k.d. lang To Be Inducted Into the Canadian Country Music Hall of Fame in 2024
k.d. lang will be inducted into the Canadian Country Music Hall of Fame in 2024 by the Canadian Country Music Association (CCMA). The induction will take place at Country Music Week 2024 in Edmonton, Alberta, September 11–14 leading to the CCMA Awards.
“I am beyond thrilled, and frankly pleasantly surprised to be honored in this way,” says lang, who was born in Edmonton. “My love for the prairies, the people and our culture underscore every ounce of my inspiration. Not without its complexities, I might add. Such is life. I am so stoked to be coming to Edmonton to bask in this celebration… with deepest gratitude.”
Emerging in the 1980s as part of a then-burgeoning “cowpunk” scene, lang has had one of the most powerful and beautiful voices in country music and beyond. A queer icon and activist in many spheres, she’s expanded the boundary of the genre and pioneered within and beyond it.
“Today, we are excited to announce the incomparable k.d. Lang as our 2024 Canadian Country Music Hall of Fame Artist inductee,” says Amy Jeninga, president of CCMA. “A true Canadian icon and trailblazer in country music and beyond, k.d. embraced the genre with unparalleled passion, and her extraordinary talents have left an indelible mark on the cultural landscape of our nation. We proudly honour her incredible legacy and outstanding contributions, and can’t wait to celebrate her induction in Edmonton this September.”
The Canadian Country Music Hall of Fame is housed at Studio Bell, home of the National Music Centre, in Calgary. A new exhibition celebrating new and historic inductees will open September 11, 2024, with more details still to be announced. -Richard Trapunski
Country Label MDM Recordings Inks Global Deal With Warner Music Canada’s ADA CANADA
Country music is big business in Canada right now, and one of the nation’s major labels has made a new deal to reflect that.
ADA CANADA, the independent label and artist services arm of Warner Music Canada, has announced a new exclusive global distribution deal with MDM Recordings. Founded by Canadian music industry veteran Mike Denney in 2008, MDM Recordings describes itself as “a full service independent label and management company specializing in country music.”
MDM has an impressive track record, especially with up-and-coming country acts. Its roster has included such notable Canadian country musicians as Chad Brownlee, Tyler Joe Miller, Bobby Wills and Don Amero, and music released on the label has earned over 450 million global streams, and more than 500,000 physical units sold. Artists currently on the MDM roster include Jess Moskaluke (a platinum-selling artist and Juno and CCMA Award winner), Charlie Major, Amero, and The Redhill Valleys, alongside promising newcomers Savannah Jade and Josh Stumpf.
MDM Recordings has twice been awarded record label of the year at the Canadian Country Music Association (CCMA) Awards. Mike Denney has been honoured with the record company person of the year title three times and has overseen seven CCMA Award wins for their artists.
“MDM Recordings has always been about fostering incredible talent and sharing their music with the world,” says Denney. “This partnership with ADA Canada marks an exciting new chapter for us. We are thrilled to leverage ADA’s extensive global network to bring our artists’ music to an even broader audience.”
Greg Morris, VP of ADA Canada, says: “Mike Denney had a vision 16 years ago to create MDM Recordings, and he has done incredible work building it into what it is today. It has an excellent track record of discovering and developing country artists, and has regularly been recognized as one of the best country labels in Canada. I’m proud that Mike has entrusted ADA Canada to support and grow his business, and am excited to work with him and his team to grow his artists’ success, and help them connect with their fans around the world.” -Kerry Doole
It’s time for another spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music. Check out this year’s Pride List of top LGBTQ+ executives in the industry. We also have a weekly interview series spotlighting a single executive and a regularly updated gallery honoring many of the industry figures we’ve lost throughout the year.
Universal Music Sweden managing director Joakim Johansson has been promoted to president of the entire Nordics region for Universal Music Central Europe. He’ll continue MD’ing on the Sweden side but adds oversight of UMG operations in Denmark, Norway and Finland, as well as the Baltics (Estonia, Latvia and Lithuania). The individual directors of those markets (Casper Bengtson/Denmark, Kimmo Valtanen/Finland and Bjørn Rogstad/Norway) will now report directly to Johannson, who continues to beeline to Frank Briegmann, chairman & CEO of UMCE and Deutsche Grammophon. Johansson’s expanded role aligns with Briegmann’s ongoing strategy to amplify cross-market collaboration and innovations throughout Central Europe. Johansson joined the company in 2013 as GM of Universal Music Sweden, being promoted to MD six years later. “The Nordic countries boast a rich musical heritage and are at the forefront of industry innovation,” he said. “It’s an honor to lead our talented team in this vibrant region, and I look forward to driving our vision into the future.”
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Audacy elevated journeyman Jeff Sottolano to chief programming officer, effective immediately. Sottolano, who joined CBS Radio in 2001 as an intern and has served as executive vp and head of programing since 2021, will now oversee content strategy and creation in all formats across broadcast, streaming and podcasts, as well as work with product and technology teams on ways to improve creator tools and more. Over a 15-year stretch at CBS, which was acquired in 2017 by Entercom (later Audacy), Sottolano held programming roles in Rochester and Philadelphia before joining the front office in 2014 as director of programming. During the Entercom era, he rose to executive vp of programming, which carried over following the post-Audacy rebrand. For most of the last decade, Sottolano’s brand portfolio has gained market share in the A25-54 demo and he has led numerous company-wide initiatives including Audacy Launch, the company’s new music discovery platform for rising artists. “I consider myself so fortunate to work with our programmers, talent, anchors, reporters and producers who, together, build incredible brands, entertain and inform, and make a difference in the lives of millions of consumers every day,” said Sottolano.
Spirit Music Group appointed Lou Al-Chamaa to executive vp of A&R, a role based in Los Angeles and reporting to Spirit’s chief creative officer, Frank Rogers, who lauded the new hire’s “drive, passion and experience in building successful writer rosters” while in senior roles at AVEX USA, Sony Music Publishing and during his time as a consultant. “The opportunity to collaborate with such a forward-thinking team and contribute to the evolution of music creation is incredibly inspiring,” Al-Chamaa said. “I am deeply committed to fostering an environment where artists, songwriters, and producers can thrive creatively.”
Capitol Christian Music Group boosted its A&R efforts at a pair of its most storied imprints. Walter Thomas is promoted from director of artist development at CCMG to the new position of vp of artist development for Motown Gospel and TAMLA. Thomas, who joined the UMG label group last year, reports to CCMG co-presidents Brad O’Donnell and Hudson Plachy. Working closely with Thomas is Alexandria “Dria” Dollar, who joined CCMG in the role of senior director of A&R at TAMLA and Motown Gospel following a stretch as director of A&R at Reach Records in Atlanta. “These iconic labels have a legacy of inspiring and uplifting music,” said Thomas, adding that “Alexandria’s innovative approach and keen ear for talent are unmatched, and I am confident that together we will elevate our artists to new heights.”
Kelly Bolton
Credit: Jessica Amerson
Warner Records added Kelly Bolton as vp of A&R. Working out of Nashville, Bolton will work with Warner co-chairman/CEO Aaron Bay-Schuck on signing, developing, and cultivating country artists for the Los Angeles-based label. Bolton will report to executive vp and head of A&R Karen Kwak. Over the past few years, Warner has added artists including Zach Bryan, Dasha and Warren Zeiders to its roster. Bolton most recently served five years at Ashley Gorley’s Tape Room Music, rising to senior vp of A&R. Prior career stops include Big Deal Music and Black River Entertainment. –Jessica Nicholson
RADIO, RADIO: Vox co-founder Melissa Bell is the next CEO of Chicago Public Media, non-profit owner of WBEZ and the Chicago Sun-Times. She succeeds Matt Moog and officially starts Sept. 3 … Not so fast on that retirement, Joe Verbrugge. SiriusXM‘s chief commercial officer was supposed to depart yesterday (June 27) but will instead remain in place until July 31 before switching to a part-time role as advisor to the CEO through the end of the year.
Wasserman Music added three veterans to its global ranks as it looks to build on the firm’s suite of client services. Joining the London team as manager of tour marketing is Adam Clements, who has 15 years of experience between stops at Birmingham’s O2 Academy and O2 Institute, Eventim UK and AEG Presents. Over in Chicago, Oskar Muller joined as director of pricing & ticketing (Chicago) after serving as pricing director at Live Nation Entertainment. Finally, in sunny L.A., Jenn Rilloraza joined as manager of brand partnerships following time as director of marketing, brands and creative services for Create Music Group’s VRTCL vertical. “We are relentless in continually creating new ways to serve our valued clients around the world, and these important new additions to Team Wass reflect that,” glowed Wasserman Music president Lee Anderson.
The Academy of Country Music made promotions and new hires across several departments. Tommy Moore has been promoted to chief of staff and vp, industry relations & awards, board administration and governance. Kris Reyes has been promoted to senior director of finance, operations and HR. Meanwhile, Jesse Knutson has been elevated to director of publicity and media relations. Haley Montgomery has been elevated to director of industry relations & awards, while Jennifer Davis has been promoted to senior manager of events. Brittany Uhniat has been promoted to manager of content & creative production. New hires include Katie Casserly as coordinator of social media, with Maggie Feyrer hired as coordinator of strategic partnerships and Delaney Loughran as assistant, industry relations & awards. –J.N.
BOARD SHORTS: The Association of Music Producers elected Matt Nelson of Yessian Music as the ad music trade group’s new president of its national board. Nelson, who joined the board’s eastern chapter six years ago, succeeds Carol Dunn as national board president. Succeeding Nelson as president of the eastern chapter will be Made Music Studio executive Amy Crawford … The International Bluegrass Music Association elected two new members of its board and welcomed the return of a third. After a year away, former IBMA board chair Mike Simpson is back, and joins newcomers CJ Lewandowski and Annie Savage as board officers … Musicians On Call appointed True Public Relations co-owner Marcel Pariseau and songwriter Sam Hollander to its national board of directors.
Dylan Brewer, a veteran label executive and experiential marketer, launched a new creative music company dubbed FRAUDULENT. Since forming, the Los Angeles-based firm has already worked on campaigns for Laufey (alongside Microsoft) and Jessie Reyez. The two-time Clio award winner was most recently vp of marketing and head of experiential at Epic Records, working on a roster including Ozzy Osbourne, Madison Beer, Bakar, BEAM, AG Club, Headie One, J Hus and more. Prior to joining Epic in 2018, Brewer was a marketing and strategy lead at Def Jam Recordings for over three years, and earlier in his career produced music campaigns at Google. Reach out to Brewer at hi@fraudulent.live.
WHY&HOW added veteran artist manager Patrick Farr to its management team, based in Nashville. Farr arrives following six years at his own Revelator Management company, and another six at Philymack before that. During his career he has worked with such artists as Nick Jonas, DNCE and Demi Lovato, as well as Sophia Scott, who comes with him to WHY&HOW. “Not only does Patrick bring immense experience, but a fitting addition to our roster in Sophia Scott,” said WHY&HOW founder & CEO Bruce Kalmick. “I’ve been a fan of Patrick’s work ethic and savvy approach to artis development for a long time – we look forward to having him jump in with our team.”
NASHVILLE NOTES: Lauren Thomas was promoted to Columbia Nashville svp of promotion from vp and will have a day-to-day role with both the Columbia and RCA Nashville imprints … Big Machine Label Group promoted Ashley Sidoti to svp of promotion and digital for its Valory Music Co. imprint. Sidoti most recently served as vp of promotion and digital … The Gospel Music Association appointed veteran producer, marketer and network leader Steve Gilreath as executive director of the Christian & Gospel Music Museum at the Dove Center. Gilreath will report directly to Jackie Patillo, president of the Gospel Music Association … The Academy of Country Music is looking for a director of brand creative and design, as well as a director of strategic partnerships. View the listings here.
Influencer marketing agency VRTCL elevated Imani “Mango” Lewis to director, overseeing operations for the entire VRTCL team. Lewis, who is based in Los Angeles, joined VRTCL in March 2021 as music department manager before rising to head of music — and then director of music — last year. Recent wins for the viral content firm include campaigns for Beyonce’s “Texas Hold Em,” Kasha’s “Austin” and Lil Durk’s “All My Life.” “Imani’s exceptional talent and dedication have consistently driven some of our most successful influencer campaigns in recent years,” said Ash Stahl, CEO of umbrella company FH Media. “Her innovative strategies and unwavering commitment to excellence make her an invaluable asset to the VRTCL team.”
BSI Merch, a UK-based independent music merch and tech company, selected Charlie Simmonds to lead its expansion into the Asia-Pacific market. Located in Tokyo, the new outpost will primarily focus on e-commerce, merch supply, tour support, sales and superfan-related services. “By focusing on e-commerce and localising our services, we aim to deliver world-class support and grow our presence in this key market,” said Andy Allen, CEO. Throughout his career, Simmonds has worked with such artists as Billie Eilish and Sticky Fingers, and events including New York Comic Con and Signature Brew.
ICYMI:
Cheryl Paglierani
UK Music made it official, appointing interim chief Tom Kiehl as full-on chief executive of the music trade body. He succeeds Jamie Njoku-Goodwin, who left last year to work for soon-to-be former Prime Minister Rishi Sunak … Music agent Cheryl Paglierani joins CAA from UTA, where she served as a partner … Rodrigo Prichard was named general manager of Rimas Entertainment, effective July 1. Meanwhile, Kristen Quintero-Garriga has been named vp of brand partnerships under RIT.MO.
Last Week’s Turntable: SXSW London Staffs Up
Music instruction platform Yousician launched a partnership with Billie Eilish under which all 10 songs from Eilish’s latest album, Hit Me Hard and Soft, will be featured on the platform. Yousician users can now learn Eilish’s new songs on guitar, bass, ukelele, piano and vocals, in addition to more than 20 additional Eilish songs that are already available on the platform. Yousician provides users with lyrics, chords, step-by-step tutorials and real-time individualized feedback. This marks Yousician’s first deal with a major artist since its Metallica collaboration in 2022.
Warner Music Group’s ADA signed a global distribution deal with 11:11 Media, the media and consumer lifestyle company founded by Paris Hilton, who recently announced the Sept. 6 drop of her sophomore album, INFINITE ICON. “ADA gives me the ability to share my music with the world while maintaining ownership of it — which is so important to me, as an artist and entrepreneur,” said Hilton in a statement.
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Warner Music Group acquired a minority stake in the independent Croatian music company Dancing Bear Music. Under the deal, Dancing Bear artists will be able to utilize the services offered by ADA, Warner Music’s global distribution and label services arm, with the opportunity to upstream and become part of Warner Music’s global roster. The deal also includes a renewal of the companies’ licensing agreement covering Albania, Bosnia and Herzegovina, Croatia and North Macedonia. Dancing Bear has acted as Warner Music’s licensee in Croatia since 1996, while its sister company, Dancing Bear Publishing, acts as a local representative of Warner Chappell Music. Artists on the Dancing Bear roster include Dalmatino, Bruno Pietri and Pete Spruce.
The BBC invested 500,000 pounds in Condense, a live-streaming platform that allows fans to experience live shows in an immersive virtual space. The announcement follows BBC Radio 1’s New Music Show with Jack Saunders hosting a series of Condense live-streams with artists including Gardna, Charlotte Plank and Sam Tompkins. Jo Sherlock, group rights and commercial director at the BBC, will serve as Condense’s contact at the broadcaster; she will help shape the growth of the partnership as an observer on the Condense board. “By partnering in this way, we can rapidly explore new ways to engage younger audiences who don’t regularly come to the BBC,” said BBC head of ventures Jeremy Walker in a blog post.
Juan Munoz‘s independent label Night Stone Records signed a global distribution deal with The Orchard. Night Stone’s roster includes B. Howard, Otti, RMB Justize, PRIVATEHOUR, Kris Hollis, DJ So Cole and Million$. All will have access to The Orchard’s suite of services, including global distribution, DSP and digital partner pitching, marketing, synch licensing, video services, data analysis, advertising and radio promotion. Night Stone also announced the launch of Night Stone Games, an independent game studio that will be led by Ken Fox, co-founder of Warner Brothers Games San Francisco.
Created by Humans, which aims to create a marketplace where creators can license their intellectual property directly to AI companies, raised a $5 million funding round led by Craft Ventures and Floodgate, with participation from LAUNCH Fund, Slow Ventures, Garry Tan and Walter Isaacson.
Downtown-owned business-to-business distributor FUGA formed a partnership with two labels: Paris-based independent label Record Makers and Potion Records, founded by DJ/producer The Magician. Record Makers, whose roster includes Sébastien Tellier, Kavinsky and Dita Von Teese, struck a global distribution and marketing deal with Downtown that will include expanded services across Downtown’s marketing strategy and marketing accounts offering, as well as synch. Potion Records will utilize FUGA’s marketing strategy and digital accounts offering along with synch and licensing services. The Potion roster includes The Ashton Shuffle, Soda State and Aevion.
Sony Music Entertainment India and Maddock Films partnered to produce music projects that will cover both film soundtracks and independent pop projects featuring Indian talent. The deal launches with soundtracks for the upcoming films Chhava starring Vicky Kaushal and Rashmika Mandanna with music by A.R. Rahman, Diler featuring Ibrahim Ali Khan and Ikkis starring Agastya Nanda with music by Sachin-Jigar. The soundtracks for Luka Chhupi 2, Sector 36 starring Vikrant Massey, Sarvagunn Sampan starring Vaani Kapoor and Rumi Ki Sharafat starring Radhika Madan also fall under the partnership.
Leading Bulgarian music event organizer Fest Team signed a preliminary contract to acquire East European promoter, talent buyer and artist agency Charmenko, which encompasses Charm Music and Charmworks. With the acquisition, Fest Team hopes to expand its regional presence and operations across Eastern Europe, the Balkans, Turkey, the Baltic regions and more. The acquisition is set to be finalized later this summer.
Primary Wave will acquire the music publishing and select master recording assets of Nuno Bettencourt, the guitar player for Extreme, the company announced Thursday (June 27). The deal — which excludes the band’s aptly titled sixth album, 2023’s Six — includes all of Bettencourt’s publishing, such as administration rights; his share of Extreme’s master recordings in which the […]
More than 50 members of the music industry have joined an advisory committee to help guide an ongoing study by MIT’s Environmental Solutions Initiative.
The report, expected to be released this fall, is designed to provide a comprehensive assessment of the relationship between live music and climate change, to identify areas where the industry and concertgoers can make improvements to reduce emissions and create positive environmental outcomes, and to analyze the latest sustainable technology and systems that can be adopted in the live events space and other areas of the industry.
The ultimate goal of the study is to determine sector-specific and industry-wide decarbonization solutions.
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The new advisory board includes Live Nation president/CEO Michael Rapino along with other Live Nation execs; Warner Music Group CEO Robert Kyncl; and reps from companies including Wasserman Music, WME, Atlantic Records, Upstaging, Inc., Farm Aid, Projects Tait, Global Motion Ltd., Women of Qolor Entertainment and many more.
On the artist side, the committee includes Ellie Goulding, Adam Met of AJR and representatives from the live and touring teams of artists including Billie Eilish, FINNEAS, Harry Styles, Shawn Mendes, Fred again.., Jack Johnson and Coldplay.
Participants also include reps from nonprofits and NGOs like Reverb, Support+Feed, Julie’s Bicycle, Global Citizen and Client Earth. See the complete list of participants here. Anyone can submit data to the report by emailing p1lm@mit.edu.
The MIT study is being executed with the support of Coldplay, Warner Music Group, Live Nation and consulting firm Hope Solutions.
“With the participation of the advisory committee and contributions of data from various sources, we are well on our way to producing a significant contribution to knowledge that can support meaningful actions to address climate change,” said Prof. John E. Fernandez, director of MIT’s environmental solutions initiative, in a statement.
“I would characterize the music industry as risk-averse,” Fernandez told Billboard in March of working within the industry. “It’s a business, and artists are trying to make a living, so we’ve seen an enormous amount of concern over the risk entailed with making a commitment to reduce emissions.”
Over the past decade, as U.S. recorded music revenue grew from $7 billion in 2014 to $17 billion in 2023, the combined market share of music sales and streaming controlled by the three major labels went from 64.9% in 2014 to 64.3% in 2023, Billboard estimates. That modest decline, which counts only music that the majors control rather than just distribute, came even as the companies bought market share with acquisitions of independent labels like 300 Entertainment, 12Tone and Alamo, plus buyouts of joint ventures. And it came about partly because about 5% of the global recorded music market — about $1.5 billion annually, according to a Billboard estimate — is now controlled by digital distribution services that mostly serve DIY and independent artists such as CD Baby, DistroKid and TuneCore, which I founded and ran until 2012. And this part of the market is projected to continue to grow.
This comes as consumers have access to more independent music than ever on the same online services, and even the same playlists, as major label releases. But one of the responses from the major music companies seems to be, if you can’t beat them, push to change the rules to take a portion of their royalties.
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Last year, the three major labels made separate deals with Spotify, as well as with Deezer, on new licensing terms for recordings, to which all other rightsholders on those platforms have to agree. The new agreements changed the policy on when a stream of a recording can generate a royalty, and in some cases the amount earned. In addition, this year, under the rules laid out by the Music Modernization Act (MMA), some portion of the “accrued but unpaid” mechanical “black box” royalties currently held by the Mechanical Licensing Collective (MLC) become eligible to be paid out to member publishers, some of which have executives on the MLC board, based on their market share on the platform and at the time the royalties were earned. Although both policies apply to the entire market, they will redistribute revenue disproportionately to large labels and publishers, especially the majors, at the expense of smaller companies and DIY and independent creators.
Deezer now applies a royalty multiplier to tracks by artists that have at least 1,000 streams per month from 500 unique listeners, a policy that generally benefits major label artists, who tend to be more popular. Under Spotify’s new deal terms, royalties that previously would have been paid out on recordings with fewer than 1,000 streams over the course of the prior 12 months are now essentially reallocated to recordings that streamed more than 1,000 times over that same time period. And since the majors control fewer recordings that stream less than 1,000 times compared to the vast number controlled by DIY creators and independent labels, those royalties will overall go disproportionately to them.
In 2023, there were 106 million recordings that received between one and 1,000 streams (others generated no streams at all), which together accounted for a total of 13.68 billion streams globally, according to Luminate. Since each Spotify stream is worth a global average of between $0.0038 and $0.0042, that suggests that, although it’s hard to measure the impact of individual services, about $33 million a year could flow from smaller artists to more popular ones that are disproportionately signed to major labels.
To understand what these new policies mean in practice, consider the indie band Head of Femur. Over the last two decades, the band released several albums that include a total of 58 tracks. Under Spotify’s new model, the service will only pay out royalties for the band’s recordings that streamed more than 1,000 times in the prior 12 months, no matter how much the recordings streamed in total. In other words, a band with 58 tracks that stream 999 times each, for a total of 57,942 streams, will make nothing — while a band with a single song that streams 1,000 times will get paid. The royalties that would have gone to those 57,942 streams will go to bigger acts — many of them on bigger labels.
The model for streaming mechanical royalties changed in a way that will benefit the same players. Before the October 2018 passage of the Music Modernization Act and the January 2021 creation of the Mechanical Licensing Collective, Spotify and other streaming services didn’t get the mechanical licenses they needed, and as a result faced multiple copyright infringement lawsuits, with potentially ruinous statutory damages. In addition, services weren’t paying out all, or in some cases any, royalties for some of the songs they had licensed — to the point that the MLC reported that it received $397.7 million in adjusted unpaid “historical” mechanical royalties that had been earned but not paid out. The Music Modernization Act was supposed to address these issues by making it easier to license mechanical rights and accurately pay publishers and songwriters.
In order to do this, the Music Modernization Act made three significant changes to the relevant parts of U.S. copyright law. First, it created a “blanket” compulsory license for digital services for every song ever written, to protect the services from liability for copyright infringement. Second, it shielded the services from liability for infringement before the law took effect. Third, it mandated the creation of a database to be administered by a designated “mechanical licensing collective,” with the goal of accounting to and paying publishers and songwriters billions of dollars in mechanical royalties generated by trillions of streams — promptly, accurately and transparently. The collective was also charged with paying out the $397.7 million in “historical” mechanical royalties earned but not paid out before 2021.
By enacting the MMA, Congress made mechanical licensing easier and protected digital services from liability for infringement. Although the law calls for penalties if digital services do not pay the MLC, it includes no specific regulations about the MLC paying rightsholders or offering rightsholders any remedies if it fails to do so. (The U.S. Copyright Office oversees the MLC and every five years reviews whether it should continue administering the compulsory license.) In fact, the Music Modernization Act states that its regulation of the mechanical licensing collective “shall supersede and preempt any State law (including common law) concerning escheatment or abandoned property, or any analogous provision, that might otherwise apply.”
That means that any unpaid mechanical royalties are subject solely to the Music Modernization Act, which says that after a certain amount of time they become eligible to be distributed according to “relative market share” of copyright owners “as reflected in reports of usage.” Essentially, the money is divided by market share on a given platform during a given time, which means that it will disproportionately go to larger publishers. So far, the MLC has yet to distribute any money based on market share. But as of June 2024, the MLC is sitting on $634 million in “black box” royalties that it has taken in but not distributed, according to the organization; it also received $397.7 million in undistributed historical royalties, of which it is sitting on $285.9 million. Eventually, all of that money — $919.9 million — will be eligible to be distributed by market share on a given platform and time period.
Over the next decade, predictions suggest that consumers will continue to turn their attention to a wider selection of DIY and independent artists. Under these policies, however, some of the revenue generated by their work will be disproportionately paid to the major labels and publishers instead of to the artists and songwriters who earned them.
Jeff Price is the founder and CEO of Word Collections. He previously co-founded and was GM of spinART Records and founded and was CEO of TuneCore and Audiam.
Following the unexpected shuttering of the MTV News website earlier this week, Paramount has now largely cleaned house on the sites for several more of its cable channels, in a potential cost-cutting move.
As of Wednesday afternoon, the sites for Comedy Central, CMT, Yellowstone airer Paramount Network and TV Land were instead directing users to the media conglomerate’s streaming platform Paramount+. On Monday, MTVnews.com was taken down, purging some 20 years of stories from the web.
A pop-up window on the Comedy Central site reads, “While episodes of most Comedy Central series are no longer available on this website, you can watch Comedy Central through your TV provider. You can also sign up for Paramount+ to watch many seasons of Comedy Central shows.” Similar language shows up on the CMT, Paramount Network and TV Land sites, as well as that of MTV (which was separate from MTVnews.com).
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aramount said in a statement, “As part of broader website changes across Paramount, we have introduced more streamlined versions of our sites, driving fans to Paramount+ to watch their favorite shows.”
As noted by LateNighter, the cleaning out of the Comedy Central site in particular wipes out a huge trove of archival material from The Daily Show and other late night series, along with clips from South Park, Key & Peele and Workaholics, among many others. Some of that material is available on YouTube, but it’s not as easily searchable or accessible as it was on the network page. (The oldest video on the Daily Show YouTube channel, for instance, is from 2016, while the show’s history stretches back 20 years before then.)
On Paramount+, only the two most recent seasons of The Daily Show are available. The platform has several South Park specials and the 1999 feature film Bigger, Longer and Uncut, but the show’s primary streaming home is on Max. Paramount+ does have the full runs of Key & Peele and Workaholics.
As of publication time, sites for Paramount’s BET, Nickelodeon and VH1 were still active, while MTV.com offered some episodes and clips.
The website changes come on the heels of Paramount’s co-CEOs — George Cheeks, Chris McCarthy and Brian Robbins — telling employees at a town hall meeting Tuesday that they were embarking on a cost-cutting mission as profits have dropped for the company. Paramount is looking for $500 million in reduced costs, which will mean layoffs for some employees. Cheeks also said at the town hall that “We’re looking at selling certain Paramount-owned assets — in fact, we’ve already hired bankers to assist us in this process — and we’ll use the proceeds to help pay down debt and strengthen our balance sheet.”
This article was originally published by The Hollywood Reporter.
SXSW will no longer engage in partnerships with the U.S. Army or weapons manufacturers, the event announced Wednesday (June 26). “After careful consideration, we are revising our sponsorship model,” reads a statement posted to the SXSW website. “As a result, the U.S. Army, and companies who engage in weapons manufacturing, will not be sponsors of […]