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Warner Music Group reported on Wednesday strong streaming revenue growth and keeping a lid on its costs helped offset declines in merchandise and physical music sales in the company’s third fiscal quarter.
Quarterly net profit rose nearly 14% to $141 million from $124 million in the third quarter last year. Overall revenue fell by 1% to $1.554 billion from $1.564 billion in the year ago quarter due to the roll off of BMG’s distribution deal and a difficult comparison to the year-ago quarter, which included a $7 million benefit from the Copyright Royalty Board in Phonorecords III.
The company’s digital revenue and streaming revenue were up 4.7% and 5.5% respectively, as subscription revenue grew 7%. Recorded Music streaming revenue increased 5.0%, and music publishing streaming revenue increased 7.9%.
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“Our strong subscription streaming growth in [the third quarter] was driven by the performance of our music and healthy industry trends,” Warner Music Group chief executive Robert Kyncl said in a statement. “We’re nurturing the next generation of artists and songwriters, creating fresh impact for our iconic catalog, and working with our partners to increase the value of music. Our commitment to long-term artist development, combined with a flatter structure in recorded music, will enable us to super-serve talent and set WMG up for sustained future growth.”
WMG’s operating income jumped 10% to $207 million in the quarter from $189 million in the third quarter last year. Adjusted operating income before depreciation and amortization (OIBDA), which measures profitability over a specific period of time, rose 6% to $316 million from $297 million in the prior-year quarter.
Revenue from WMG’s recorded music division fell by 2% to $1.251 billion from $1.282 in the year-ago quarter. This was due in part to the exiting of BMG as a client, which resulted in $26 million less revenue, and a “renewal with one of the Company’s digital partners” which created an additional $3 million drage on recorded music streaming revenue, the company said.
BMG began winding down its distribution agreement with WMG’s ADA last September to move control of its 80 billion-stream digital business in-house.
Physical revenue fell by 4.8% because of release timing and a tough year-ago comparison, the company said. Artist services and expanded-rights revenue fell by 27.1% mainly due to lower merchandising revenue.
Revenue from WMG’s music publishing division rose by 8% to $305 million from $283 million in the year-ago quarter.
Topline Results:
Total revenue 1% to $1.554 billion in the third fiscal quarter 2024 from $1.564 billion in the same period last year.
Net income rose 14% to $141 million from $124 million in the third quarter 2023.
Recorded music revenue fell by 2% to $1.251 billion from $1.282 billion in the third quarter 2023.
Music publishing revenue rose 8% to $305 million from $283 million in the third quarter 2023.
Gamma has established strategic partnerships with The Music Arena, The Temple Company and Sol Generation Publishing and Distribution in Africa as well as LPME Records in the Middle East.
Gamma’s latest partnerships bolster the company’s commitment to supporting artists and labels in these regions, which its founder Larry Jackson outlined last year to Billboard when his media and entertainment company first expanded its operations there. Last May, Sipho Dlamini and Naomi Campbell joined gamma as president and special advisor for Africa and the Middle East, respectively; Larry Gaaga was named vp/GM for Africa and Dany Neville was named vp of A&R for the Middle East last August.
“It’s incredibly gratifying to see the enthusiasm shown by our new strategic partners, their artists and stakeholders in aligning with gamma. We’re well under way, engaged in bolstering the creative momentum for artists from these key markets,” Dlamini said in a press statement. “An indication of our ambition is that in conjunction with our new partners we’re generating writing camps in Nigeria, South Africa, Kenya and the [United Arab Emirates]. I don’t know of another company that is navigating the continent and region in this manner with this reach. The creative collaborations we’re establishing will further travel local music to global adoption.”
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In June, the company officially launched gamma South Africa in Sandton, one of the country’s biggest financial hubs within Johannesburg. Gamma hosted a launch party on June 6, with Dlamini, Gaaga, Thabo Keith Ngweya, gamma’s strategic partnerships & culture marketing lead for Africa, Sikhulile Nzuza, gamma’s strategic partnerships, culture & operations lead for Africa, and more in attendance. The company has been providing dynamic opportunities for South African acts since last year, such as tapping DJ/producer MöRDA to remix “Mysterious Ways” on The Color Purple (Music From And Inspired By) that the company distributed alongside WaterTower Music last December (with Jackson as one of the producers, alongside Quincy Jones and Scott Sanders). Gamma recruited MöRDA again as well as Major League Djz, Junior Taurus and Soa Mattrix to create amapiano and Afro House-inspired remixes of Usher and Nigerian singer-songwriter and producer Pheelz’s “Ruin” from the former’s latest album COMING HOME that was distributed via Usher and L.A. Reid‘s mega and gamma in February.
Gamma’s partnership with the Johannesburg-based conglomerate The Music Arena aims to continue bridging the gap between South African artists and international markets by providing artists with unprecedented opportunities to collaborate with an international label, leveraging gamma’s expertise in the global market (especially in the U.S.), with a special focus on artist collaborations and joint ventures.
The Music Arena is comprised of three different music entities: Gallo Music, South Africa’s largest and oldest independent record label; Gallo Music Publishers, Gallo’s publishing arm that’s home to iconic composers and a rich repository of cultural works; and Content Connect Africa, the continent’s leading independent media and content business that represents over 2,000 African artists and labels. The Music Arena’s global footprint spans South Africa, Uganda, Nigeria, Ghana and the U.S.
“The Music Arena is delighted to be partnering with gamma in a multi-faceted deal, which will grow our artists’ presence internationally as well as represent gamma’s artists on the network operators’ platforms in Africa,” said Antos Stella, CEO of The Music Arena, in a statement. “Our focus remains on developing and growing our artists and composers globally.”
Gamma’s new alliances aim to cover the entire African continent. The company’s partnership with The Temple Company, a leading record label, TV/film production company and talent management agency based in Lagos, aims to connect Nigerian artists to global audiences by developing and promoting Nigerian talent, with a special focus on cross-cultural collaborations to maximize international exposure. One of the first projects from this partnership is Nigerian superstar D’Banj‘s new album Entertainer–The Sequel, the follow-up to his 2008 album The Entertainer, which will be released on Aug. 16.
“Our partnership with gamma marks a pivotal moment for The Temple Company and the Nigerian music industry at large. This collaboration will open up new opportunities for our artists to showcase their talents on a global stage,” said Idris Olorunnimbe, The Temple Company’s group chief executive. “We’re particularly thrilled about D’Banj’s upcoming album, Entertainer–The Sequel, which we believe will be a gamechanger in demonstrating the universal appeal of African music. Together with gamma, we’re committed to nurturing and promoting the incredible talent that Nigeria has to offer, and we’re confident that this partnership will play a crucial role in shaping the future of African music on the world stage.”
Gamma will also celebrate East Africa’s rich musical heritage through its partnership with Nairobi, Kenya-based Sol Generation Publishing and Distribution, the music publishing and distribution arm of award-winning Afropop group Sauti Sol.
LPME Records is committed to producing music that inspires unity and celebrates cultural diversity and establishing Dubai, UAE, as a musical creative hub. The labels currently represents three dynamic artists: the label’s first signee Dawda, a Gambian-Estonian star who blends Afrobeats, hip-hop, R&B and pop and has written and produced for Britney Spears, Akon, Oxlade and Snoh Aalegra; Yasmina, a Tajikistani artst who’s known for her unique fusion of Arabic and pop music; and Alya, an Emirati-British singer/songwriter/dancer/actress who draws inspiration from soul, jazz, R&B, hip-hop, amapiano and Afrobeats. Additional signings will be announced later this summer.
The state-of-the-art LPME Studios is reputable for having top-class sound quality and being a creative hub fostering musical innovation. The facility includes six production rooms, two Dolby Atmos rooms, a main stereo room, live band and vocal rooms and more. Artists like J Balvin and Jason Derulo as well as Grammy-winning engineer Tony Maserati have previously worked there.
“We are incredibly excited to enter into this partnership with gamma. This collaboration represents a significant step forward in our mission to share the rich and diverse sounds of our artists with a global audience,” added Moh Denebi, LPME Records’ label manager and producer. “Together with gamma, we are confident in our ability to elevate our artists’ reach and impact, bringing fresh, innovative music to listeners around the world.”
Monica signed with WME in all areas. The Grammy-winning singer recently came off a supporting slot on Nick Minaj’s Pink Friday 2 Tour in North America and is prepping the release of two full-lenghts this year: R&B album MDA and country album Open Roads (executive produced by Brandi Carlile). She recently joined Brandy on a remix of Ariana Grande’s “the boy is mine” — a reimagining of the pair’s smash 1998 duet. Monica continues to be managed by Melinda Dancil.
English punk rock duo Soft Play partnered with Rise Records/BMG for the release of their new album, Heavy Jelly, which debuted at No. 3 on the UK Official Albums Chart dated July 25, 2024. The duo was previously known as Slaves before changing their name in 2022 following a backlash over their former moniker.
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ONErpm signed L.A.-based alt-rock trio Sick Puppies (“You’re Going Down”) for the release of the band’s forthcoming sixth album Wave the Bull, which is due out early next year. The album’s first single, “There Goes the Neighborhood,” was released July 26.
RECORDS Nashville signed newcomer singer-songwriter Drew Green, who has seen viral success with the song “Lotta Bit of You.” RECORDS Nashville is the boutique outpost of industry executive Barry Weiss’ label RECORDS. Green’s first RECORDS Nashville-helmed single is “Town Drunk,” while he’s also prepping an upcoming collaboration with HARDY titled “Colorado.” – Jessica Nicholson
Bruce Kalmick‘s WHY&HOW added artists Tyler Halverson and Cameron Sacky Band to its artist management roster. Halverson will be overseen by Patrick Farr while Allie Petko and Eddie Kloesel will oversee Cameron Sacky Band. Halverson has released the independent singles “Beer Garden Baby,” “Mac Miller” and “Your Bar Now,” while Cameron Sacky Band issued a self-titled 2021 EP and is set to release the full-length project Quicksand. Cameron Sacky Band is repped by The Neal Agency for booking. – Jessica Nicholson
Singer-songwriter John Morgan signed with Rich MGMT. The North Carolina native is also signed to Night Train Records/BBR Music Group and is currently on Billboard’s Country Airplay chart with the song “Friends Like That” featuring Jason Aldean. Morgan also has writing credits on hits including Aldean’s “That’s What Tequila Does,” “Trouble With a Heartbreak” and “If I Didn’t Love You” with Carrie Underwood. Rich MGMT was founded by Brendan Rich in 2023 with a roster that also includes Matt Stell, George Birge and Darren Kiely. The company also recently added to its staff with digital coordinator Jordan Policastri, who joins day-to-day managers Sarah Paravia and Chase Miller. – Jessica Nicholson
Montreal beatmaker/instrumentalist tender spring, who is part of the Canadian indie band Afternoon Bike Ride, signed to Nettwerk for the release of the album you are now listening to a tender spring. Born David Tanton, the musician released the album’s “side a” on July 26, with the remainder to be released at a later date.
Nettwerk also signed L.A.-based, New Zealand-born Laotian artist Alisa Xayalith, who is best known as the frontwoman of The Naked and Famous. The label is set to release her new single, “Roses,” on Friday (Aug. 9), to be followed by more new music produced by Tyler Spry (OneRepublic, Tate McCrae).
Elektra Records signed Kevian Kraemer, an 18-year-old singer-songwriter, multi-instrumentalist and producer based in New Jersey who released his debut EP Seventeen earlier this year. On Friday (Aug. 2), the label released a stripped-down version of his breakthrough track “Attention.” Kramer is managed by Chris McAndrew and Jamar Richardson at Paia Management, with legal representation by attorney Paul Rothenberg at Rothenberg, Mohr, & Binder.
Ken Pomeroy, a Cherokee singer-songwriter from Moore, Okla., signed to Rounder Records. Now based in Tulsa, Okla., Pomeroy’s song “Cicadas” was featured in an episode of the FX series Reservation Dogs. She also appeared in this summer’s Twisters, performing her song “Wall of Death” with Wilderado and James McAlister. The song is also featured on the film’s soundtrack.
Downtown Neighboring Rights signed a global deal with singer-songwriter Lady Blackbird to represent her catalog, which includes singles such as “Woman,” “Feel It Coming” and “Dark Days” with Moby.
Secretly Canadian signed singer-songwriter Brandon. The label will release his EP Blush on Sept. 13; the first single, “Without You,” was released Wednesday (July 31).
My Brightest Diamond signed to Western Vinyl, which will release her new album, Fight the Real Terror, on Sept. 13. The singer-songwriter, who just came off her originating role in Broadway’s Illinoise (based on the Sufjan Stevens album), is managed by Andrea Troolin at Ekonomisk and booked by Alex Fang at New Frontier (North America) and James Alderman at Free Trade (international). Her new song, “Have You Ever Seen an Angel,” was released July 26.
Capitol CMG has signed artist-writer Claire Leslie, who just released her label debut single, “Original.” The song was written by Leslie, Jordan Sapp and Daniella Mason. – Jessica Nicholson
Third Man Records signed Australian band The Belair Lip Bombs and will reissue the group’s 2023 album, Lush Life. It is the label’s first Australian signing. The Bombs’ second album is expected for release sometime next year.
K-pop stocks were the hardest hit music stocks on Monday (Aug. 5) as global markets continued Friday’s decline in the U.S. with major selloffs. Four K-pop companies — HYBE, SM Entertainment, JYP Entertainment and YG Entertainment — fell an average of 8.8% on Monday, while a major South Korean stock index, the KOSPI composite index, […]
Singer/songwriter Lisa Loeb will keynote the Guild of Music Supervisors’ 10th annual State of Music in Media Conference, which will take place on Saturday, Aug. 17 at the West LA College campus in Culver City, Calif. People can also attend virtually, via a live stream on Zoom. The all-day conference encompasses the use of music in film, TV, video games, advertising and trailers.
Thirty years ago this month, Lisa Loeb & Nine Stories became the first artist to top the Billboard Hot 100 before being personally signed to a record label. She achieved the feat with her song “Stay (I Miss You),” which was heard in the film Reality Bites. It topped the chart for the first three weeks of August 1994.
Other speakers include director Doug Liman and music supervisors Julianne Jordan, Amanda Krieg Thomas, John Houlihan, Carolyn Owens, Steven Gizicki, Trygge Toven, Joel C. High, Thomas Golubić, Catherine Grieves and Burt Blackarach. In addition, Julia Michels, president of the Los Angeles chapter of the Recording Academy, and Qiana Conley Akinro, senior executive director of the L.A. chapter, will speak.
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Programming highlights include:
Opening remarks from GMS president Lindsay Wolfington and GMS vp Heather Guibert
Celebrating the 2024 Primetime Emmy nominees for outstanding music supervision
AI: Challenges and Changes to the Industry and New Opportunities for Creatives
A conversation with music supervisor Julianne Jordan & director Doug Liman
Live listening session with music supervisors
Art Meets Commerce: What Makes Trailer Music Supervision Different
FALLOUT: From Game to Streaming Series
From Coordinator to Supervisor: Navigating the Leap
GMS is offering a one-on-one networking session for aspiring music supervisors to meet GMS members working in the field of music supervision. This opportunity is open to aspiring music supervisors only. Conference attendance and pre-event sign-up are required.
GMS’ first-ever music supervisor listening session will feature music supervisors giving live feedback on five songs selected from Friend of the Guild (“FOG”) submissions. Participants can learn how top music supervisors in TV, film, video games, ads and trailers respond to tracks when considering them for placement.
A conference ticket purchase comes with a complimentary “Friend of the Guild” subscription, granting access to future events and networking opportunities. To learn more and buy tickets, visit the GMS Media Conference site.
Radio stocks struggled this week as companies’ second-quarter earnings revealed additional revenue losses.
SiriusXM shares fell 15.6% after the company’s second-quarter earnings on Thursday (Aug. 1) showed a loss of 173,000 satellite radio subscribers and 41,000 Pandora subscribers. Revenue fell 3% to $2.18 billion, although net profit improved 2% to $316 million. In the first quarter, SiriusXM lost 594,000 subscribers, although revenue improved 0.8% to $2.16 billion.
SiriusXM is trying to thread the needle as it expands its product line and gives consumers more options. The new $9.99-per-month streaming service is intended to appeal to a broader audience than potential satellite radio subscribers. At the same time, the company is introducing new pricing tiers for satellite radio, including a $9.99 music-only subscription that can expand to news, talk and sports for additional fees. The trick is not cannibalizing its core, higher-priced satellite offering. “The early results in our testing have been encouraging,” CEO Jennifer Witz said during Thursday’s earnings call. “It shows that we’re getting consumers into the right packages for them.”
Shares of radio broadcaster Cumulus Media fell 21% to $1.62 and dropped as far as $1.29 on Friday (Aug. 2) — a 52-week low — after the company’s second-quarter earnings showed that revenue fell 2.5% and net loss increased to $27.7 million from $1.1 million a year earlier. iHeartMedia, which doesn’t report earnings until Thursday (Aug. 8), appeared to be a casualty of Cumulus Media’s results as its shares fell 12.9% to $1.49.
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Collectively, radio companies have had the worst stock performance of all music companies this year. Year to date, Cumulus Media is down 69.5%, iHeartMedia has fallen 44.2% and SiriusXM is off 42.6%. Only JYP Entertainment, which has fallen 44.3% year to date, has suffered a similar drop.
The Billboard Global Music Index (BGMI), a measure of the market capitalizations of 20 publicly traded music companies, fell 1.1% to 1,739.18. Even though 13 of the 20 stocks lost ground — five of them suffering double-digit declines — gains by some of the index’s most valuable companies nearly offset the losses. HYBE improved 5.3% to 180,800 won ($139.01). Spotify gained 2.8% to $331.02. And Universal Music Group (UMG) rose 0.5% to 21.44 euros ($23.41).
Music stocks have had a case of the summer doldrums after soaring in the winter and spring. The BGMI has fallen for four consecutive weeks and stands 5.9% below its all-time high of 1,847.64 set on May 17. On Friday, the index reached its lowest point since April 19.
Music companies’ losses were compounded by sharp declines in U.S. stock markets on Friday after news that the unemployment rate rose in July stoked fears the economy could enter a recession. The tech-heavy Nasdaq fell 3.4% this week and stood in “correction” territory, at 10.1% below its all-time high set on July 11. Amazon fell 8.0% after missing revenue expectations and providing investors with a disappointing forecast. Intel fell 31.5% after announcing broad layoffs, reporting a decline in quarterly revenue and issuing weak guidance.
The S&P 500 dropped 2.1% to 5,346.56. In the United Kingdom, the FTSE 100 gained 2.3% to 8,474.71. South Korea’s KOSPI composite index dropped 2.0% to 2,676.19. China’s Shanghai Composite Index improved 0.5% to 2,905.34.
The week’s greatest gainer was K-pop company JYP Entertainment, which rose 6% to 56,400 won ($41.53). JYP was added to the BGMI this week after Hipgnosis Songs Fund was removed from the London Stock Exchange once its acquisition by Blackstone was completed. Three other K-pop companies were among the week’s few gainers: HYBE improved 5.3%, YG Entertainment rose 2.1% and and SM Entertainment increased 1.0%.
Reservoir Media dropped 14.4% to $7.37 after releasing its quarterly earnings on Wednesday (July 31). Tencent Music Entertainment, which will report earnings on Aug. 13, fell 10.5% to $12.62. Warner Music Group (WMG) fell 5.3% to $28.26. In the wake of UMG’s latest earnings results, which showed a slowdown in subscription revenue, J.P. Morgan dropped its price target on shares of WMG — which will report earnings on Aug. 7 — to $41.00 from $42.00.
The music business is seeing the results of doing more with less.
The slew of earnings reports over the past two weeks have revealed that companies achieved better margins and greater profitability — even in cases with lower revenue or disappointing growth in some areas. And nearly all these companies share one important thing in common that boosted their latest earnings results: layoffs.
Universal Music Group’s share price fell 24% the day after its second-quarter earnings showed recorded music subscription growth had slowed to 6.9%, down from 12.5% in the prior-year period. Investors are interested in music companies because streaming has transformed the industry, bringing growth in the wake of falling CD and download sales and opening new markets around the world. So, when the industry’s most attractive revenue stream stumbles, investors are going to take notice.
But despite the hiccup that wreaked havoc on its share price, many of UMG’s financial metrics showed the company is headed in the right direction. Revenue grew a hearty 9.6%; adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11.3%; and adjusted earnings per share rose to 0.44 euros ($0.47), up from 0.42 euros ($0.45) a year earlier. Setting aside the main reason investors want to own UMG shares — the global music subscription business — UMG’s earnings had a lot of positives, some of which undoubtedly had to do with the layoffs that occurred in February. According to the company’s 2023 investor presentation, that round of job cuts is expected to save 75 million euros ($81 million) in 2024 alone.
In other earnings news, Spotify — which cut roughly a quarter of its global workforce in three rounds of layoffs in 2023 — had an incredible turnaround in the second quarter, posting an operating income of 266 million euros ($286 million) — a 513 million-euro ($552 million) improvement from the second quarter of 2023. Despite the much smaller staff, the streaming giant’s revenue grew 19.8% to 3.81 billion euros ($4.1 billion) while its gross margin rose to 29.2% from 24.1%. Spotify’s share price jumped 12% after the release and had almost increased another 2% through Thursday (Aug. 1).
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Spotify’s latest layoffs in December, which affected 17% of its staff, attracted criticism —“Spotify is screwed,” Wired proclaimed — but they made a large and immediate impact. In the second quarter, total operating expenses dropped 16.5% as every component had a double-digit decline (general and administrative expenses were down 23%, sales and marketing fell 16.3%, and research and development expenses dropped 16.5%). When Spotify announced the staff cuts, CEO Daniel Ek admitted the scope of the layoffs would feel “surprisingly large” but was steadfast in the need to become “relentlessly resourceful.” At the time, he said, “We still have too many people dedicated to supporting work and even doing work around the work rather than contributing to opportunities with real impact.”
Recent staff cuts also appear to have benefitted SiriusXM, which laid off 8% of its workforce in 2023 and another 3% of its headcount in February. Though the satellite radio giant’s share price fell 6.4% on Thursday after the company announced it lost 173,000 satellite radio subscribers and 41,000 Pandora subscribers in the second quarter, net profit grew 1.9% to $316 million even as revenue fell 3% to $2.18 billion. Thanks to its cost-cutting efforts, general and administrative expenses dropped 31% and engineering, design and development costs fell 14.5%.
Not all companies reporting earnings over the last two weeks had to lay off workers to improve their margins. French music streamer Deezer, citing improved cost control and margin improvement through more favorable terms with record labels, improved its first-half adjusted EBITDA by 8 million euros ($8.7 million). The company also raised its target for full-year adjusted EBITDA by 5 million euros ($5.4 million).
Reservoir Media, which reported earnings on Wednesday (July 31), similarly improved operational efficiency without layoffs. The company’s share price fell by 8.8% in the two days after it announced quarterly recorded music revenue had dropped 7%, but the company’s publishing revenue improved 15% overall revenue grew 8% and adjusted EBITDA soared 25%. While investors found reason for concern, CEO Golnar Khosrowshahi struck an optimistic note on Wednesday’s earnings call. “We’re off to a good start in fiscal 2025 and remain on track to again hit our annual targets,” she said.
In addition to cost-cutting, streaming companies are also enjoying the benefits of price increases. Not only did Spotify raise its subscriber count by 26 million in the previous 12 months, but price increases pushed average revenue per user (ARPU) up 8.2%, or 0.35 euros ($0.38), per month. Even though Deezer didn’t gain subscribers over the previous year, its ARPU rose 6% for direct subscribers and 3.5% for subscribers gained through partnerships due to price increases it instituted last year.
Of course, music companies have their share of challenges that cost-cutting can’t solve. Streamers can’t raise prices too frequently and are dealing with ongoing sluggishness in ad-supported streaming. Record labels need to re-set expectations for their subscription businesses and continue to see sluggish ad-supported streaming revenue. And music publishers are getting a pay cut from Spotify’s decision to treat its premium service like a bundle in the U.S. Considering all this, their decisions to cut costs and focus on operational efficiency couldn’t have come at a better time.
A true champion for positive change in music will be honored at Billboard Canada Women in Music in Toronto on Sept. 7, 2024.
Jessie Reyez will accept the Trailblazer Award, which is given to a female artist who acts as a music industry pioneer by using her platform to spotlight unheard voices and break ground for future generations of performers.
The Canadian singer straddles the worlds of hip-hop, R&B and pop and has proven to be a big star both on and off stage. She’s hit the Billboard Hot 100 and Billboard Canadian Hot 100 multiple times, while also appearing on a number of other charts in genres including Latin, R&B and dance. She’s collaborated and toured with artists from Billie Eilish to Eminem to Big Sean to Sam Smith. She’s been a hitmaker behind the scenes, too, penning songs for artists including Calvin Harris and Dua Lipa.
On and offstage, Reyez has used her platform to speak up against systemic inequality — from lack of diversity on the staff of major labels to immigration issues to LGBTSQ+ rights.
Reyez was previously honored with the Impact Award at Billboard Women in Music in 2020, accepting during the virtual ceremony while speaking about the ways she’s had to break through barriers as a woman in music.
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“I’ve always said that being born a woman on this earth is like being born walking uphill,” she said. “There are so many burdens and bags that we carry and manage to do so with grace.”
Previous winners of the Trailblazer Award include Phoebe Bridgers, Kesha and Janelle Monae. Reyez will accept the award at the first edition of Billboard Women in Music in Canada.
The ceremony will also include guest of honor Alanis Morissette, who will win the Icon Award. The star-studded event will additionally celebrate previously announced honourees Allison Russell, LU Kala, The Beaches and more yet-to-be-announced.
For more on Billboard Canada Women in Music and to buy tickets for the September 7 event, head here. – Richard Trapunski
SiR’s Concert is Cancelled in Toronto, Fuelling Speculation about Drake’s Involvement
Another last-minute concert cancellation at History in Toronto is causing online speculation related to Drake‘s feud with Kendrick Lamar.
Los Angeles R&B singer SiR was set to perform at the venue on July 30 but announced on X (formerly Twitter) that the show has been canceled. The singer stated that the venue canceled the event even though, he says, the show was sold out. “Not sure why,” he tweeted.
ScHoolboy Q reacted with laughter to the news; the rapper’s July show at History was canceled earlier this month with no reason given, and at the time he took to the same platform to imply it was because of the feud between Lamar and Drake. History is a collaboration between Drake and Live Nation.
“CANADIAN POLICE DONT WANT NOBODY FROM TDE PERFORMING,” ScHoolboy wrote after his show’s cancellation. A spokesperson from the Toronto Police Service said it had no part in the decision to cancel the concert.
ScHoolboy Q and Lamar are former labelmates on Top Dawg Entertainment (TDE), which Lamar left last year, as well as former members of the group Black Hippy. SiR is also on the label and has collaborated with Lamar.
The SiR cancellation follows another Drake-related incident at History on Monday night (July 29). DJ Scheme, opening for Ski Mask The Slump God, dropped Lamar’s Drake diss track “Not Like Us” at the venue and shared a clip of the crowd singing along at full volume.
ScHoolboy Q, meanwhile, made a not-so-cryptic post on X shortly after, which simply read: “HAHAHAHHAHAHAHHAHAHAHAHAHAHAHH 🔵.” His followers interpreted it as a reaction to the “Not Like Us” needle drop. – Rosie Long Decter
Céline Dion Sees Global Spike in Streams After Soaring Olympics Comeback
It’s all coming back to her now: Listeners are streaming Céline Dion in big numbers following a triumphant comeback performance.
The French Canadian superstar performed from the Eiffel Tower on July 26 as part of the Paris Olympics opening ceremony. Dion sang French icon Edith Piaf‘s “L’Hymne à l’amour,” making an emotional and highly-anticipated return to the stage amidst a battle with Stiff Person Syndrome.
Viewers tuned in across the globe to see Dion’s performance, and they clearly want more. Her global Spotify listenership has jumped 36% since the performance, with a 64% jump in France.
Dion isn’t the only artist whose catalogue is benefitting from the performance. The original recording of “L’Hymne à l’amour” by Piaf saw a 317% jump in Spotify streams in the day after the opening ceremony.
The big bump in listeners indicates that the public is ready and waiting for Dion’s return. Though she hasn’t confirmed a follow-up performance, there have been rumours of a potential Las Vegas show on the horizon.
The performance also followed the June release of a documentary chronicling Dion’s experiences with Stiff Person Syndrome, I Am: Céline Dion.
She shared a message on Instagram after the performance for the athletes in Paris: “stay focused, keep going, my heart is with you!” After everything she’s been through, her heart goes on. – RLD
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. Also be sure to check out our weekly interview series spotlighting a single executive and a regularly updated gallery honoring many of the industry figures we’ve lost throughout the year.
Wasserman hired Steve Murray as executive vp of mergers & acquisitions and strategy, effective July 15. He joins the company from Providence Equity Partners, where he served as a principal on the investment team. At Providence, he collaborated with companies and organizations including Warner Music, the NFL and Major League Soccer and helped lead the firm’s strategic investment into Wasserman in November 2022. He was also a key player in Wasserman’s acquisitions of CSM Sport & Entertainment and Brillstein Entertainment Partners, both last year.
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Independent live music company Mammoth unveiled its new touring division, which will be led by Rob Owens and Angela Brown. Owens, who is based in Mammoth’s new touring office in Nashville, was named president of global touring at Mammoth in April 2023; Brown, who previously held several roles at Live Nation, joined the company last September as president of global tour marketing. Along with the executive announcements, Mammoth revealed it’s set to produce JT‘s City Cinderella Tour and Jamaican dancehall artist Buju Banton‘s U.S. tour alongside AG Entertainment Touring.
Rob Stratton was promoted to vp of visual & media rights at Sony Music Publishing UK. In the role, he will be tasked with leading the publisher’s visual & media efforts in the U.K., maintaining relationships with broadcasters and media production companies, and delivering opportunities for the company’s partners. He will continue working with Cathy Merenda and the U.S. visual & media rights team to expand the business worldwide. He has been with the company since 2014 and was previously director of visual & media rights.
U.K. record executives Nick Burgess and Jack Melhuish launched Artist Theory, a new independent label, in collaboration with U.K. indie label and publisher B-Unique. The label’s roster boasts U.K. rocker Sam Ryder along with emerging artists H.LLS (an electronic/R&B/hip-hop collective) and Emily Jeffri (Gothic pop singer). Both executives hail from Parlophone, where Burgess was co-president and Melhuish was GM/head of marketing.
Big Loud Records promoted Jess Anderson to senior director of media, effective immediately. Anderson has worked with the Big Loud Roster since late 2018. She came in-house with the label in 2021 and helped to create the label’s internal publicity roster in 2022 as director of media relations. The Big Loud roster includes Morgan Wallen, HARDY, ERNEST, Stephen Wilson, Jr., Charles Wesley Godwin, Lauren Watkins and Kashus Culpepper. Anderson’s prior career stops include Sweet Talk Publicity, The Press House and Big Machine Label Group. – Jessica Nicholson
Linlin Chen, the group vp of Tencent Music Entertainment Group (TME), among other roles, will resign all of her positions at the Chinese company for personal reasons on Sept. 30. “On behalf of the Company, we would like to extend our gratitude to Ms. Chen for her dedicated service at TME,” said Cussian Pang, executive chairman of TME, in a statement. “We appreciate her continuous hard work and commitment, which greatly contributed to the success of Kugou Music, one of China’s leading music streaming platforms. We respect her decision and wish her all the best in all her future endeavors.”
Artist management company, music publisher and record label Blue Raincoat Music named Roman Tagoe director of streaming for Chrysalis Records. He will be based in the company’s London office and report to senior vp of marketing James Meadows. In the role, Tagoe will be responsible for driving success on streaming platforms for the company’s frontline and catalog artists. He was previously at BMG, where he served as director of streaming for global catalog recordings.
BOARD SHORTS: The California Copyright Conference announced its 2024-25 officers and board of directors. The new officers are president Rene Merideth (Exploration), vp Carolyn Soyard (Disney Music Group), treasurer Alexandra Guzman (SESAC), secretary Sarah Brockman (Bardic Inspiration Music Services) and assistant secretary Jean Montiel (peermusic). Re-elected board members include Reggie Calloway (Sound Royalties), Debra Delshad (creative music strategy and licensing consultant), Cheryl Dickerson (music industry consultant) and Paula Savastano (Seeker Music Group). Newly-elected board members include Tara Austin (Austintatious Tunes), Rhonda Bedikian (Heavy Harmony Music), Janelle Hawkes (independent publishing administrator), Brandon Jarrett (TV/film composer/music producer/songwriter) and Wayne Josel (ASCAP). Serving their second board of director terms are Kristina Benson (Sweet On Top) and Jonathan Lane (Clearly Music Services); first alternate is James Jacoby (A Bun Dance Production) and second alternate is Sherry Orson (Star Vibe Group).
Abby O’Neill was named head of cultural programming & strategy at Summit Series, an organization that hosts invite-only events for entrepreneurs, artists, philanthropists and more, including Summit At Sea and the forthcoming Subbmit Baja. O’Neill previously served as an NPR executive producer and strategist, curating and producing more than 100 Tiny Desk Concerts and helping realize a 3,000% viewership increase for the series, among other successes. Through her own company, Key Bridge Entertainment, she co-created the free dance music festival Rock the Park DC in Washington, D.C.
Ralph Kink joined German collecting society GEMA as head of digital transformation, effective Sept. 1. In his new role, Kink will spearhead GEMA’s technological development and serve on the company’s executive board. He previously worked at Microsoft for 25 years and is also the co-founder/CTO of digital.fwd, a management consultancy that specializes in digital transformation and artificial intelligence.
Publicist Nicole Govel launched a new company, Goldfinch Marketing, which will offer PR, influencer marketing and music video promotion services to clients. Govel previously spent eight years as a publicist at Trendsetter Media and Marketing.
Last Week’s Turntable: BMG Europe Exec Exits
As the 2024 presidential election heats up ahead of Nov. 5, Sony Music is throwing its hat in the ring with a campaign to increase voter turnout. Called Your Voice, Your Power, Your Vote, the non-partisan initiative is meant to educate artists, songwriters, industry professionals and communities across the country about voter registration. Its website […]