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For plenty of music’s most compelling artists, going independent doesn’t mean going small — it means reaping the myriad benefits of forgoing the major label route. Across genres, staying independent can ensure an artist has greater ownership over both their creativity and their intellectual property; the ability to pivot or react quickly when a song unexpectedly takes off; and the freedom to put together a team that truly has their best interests at heart. Of course, there are the more intangible upsides to staying indie too — above all, the feeling that when success happens, it’s truly earned.
Here, Billboard surveys some of the most compelling indie artists making music (and chart inroads) now about the challenges and benefits they’ve seen to independence and the advice they’d offer anyone considering it.
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The advice I’d offer any indie artist is…: “Take mindful steps to get to know and understand your artist identity so that you can become something unique and genuine — whether it’s through vision boards, writing diaries or practicing adjacent forms of artistry to help you flesh out your identity as a musician. It has been instrumental to me in making sure I don’t lose my way.” —Paris Paloma (Nettwerk)
The advice I’d offer any indie artist is…: “You control the narrative, so don’t settle, and be bold. An artist working independently has the ability to reach their fans directly with no barriers to entry and to create their own culture. [Independence] also provides a comfortable space for an artist to discover who they are and run their business with full oversight of the costs. It’s incredibly important for anyone getting into this business to understand how it works, what you’re signing into and how your money is being spent.” —Josh Sanger, manager, Paris Paloma
Paris Paloma
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“Freedom is the most important asset an artist can have, in many more ways than just artistic. If you’re serious about being independent and you know how to work it, it’s way better than signing with an established label. For example, I own my own publishing company. I own my touring company. The capability of reacting and not being on a part-semester plan or a year plan is priceless. The capacity of reaction is one of the biggest assets of being independent.” —Pepe Aguilar (Equinox Records, Machín Records)
One of the most challenging parts of being independent is…: “Being able to make connections with global artists who are represented by major labels for collaborations.” —Cris MJ (Stars Music Chile/Rimas Entertainment)
The advice I’d offer any indie artist is…: “[Take] responsibility as an artist, and form a good team that can support you in making the right decisions.” —Sergio Javier Ampuero Vergara, manager, Cris MJ
“If you’re grinding to get to your highest point of success and you started by yourself, it means more when you make it. The celebration when you make it is different because you get to say that you gave all of yourself to your dream, no matter who believed or didn’t.” —Lay Bankz (Artist Partner Group)
Lay Bankz
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One of the most challenging parts of being independent is…: “[When you’re] doing the same thing every day with what feels like no motion, and spending money. No one knows you, no one is there to help you, or believing in you — it’s just God, you, and your dreams.” —Kenney Blake, manager, Lay Bankz
“Being an independent artist means having total control over both your art and your business. This requires being an entrepreneur, taking all the risks and having no one to blame but yourself and your team. Make sure you have a good team. You can still yell at the label when you are the label, but you will be yelling in the mirror.
That said, where there is great risk there is great reward. The potential upside is tremendous when you own your own masters and publishing. Don’t let anyone ever convince you ‘independent’ is synonymous with ‘small’ or ‘broke.’ ” —Andrew McInnes, CEO, TMWRK Management; manager, Sturgill Simpson (High Top Mountain)
“We have been able to have full control of our music without having to encounter a lot of politics and red tape that other artists do. It has given us the ability to do what we love most in the way we feel is best, and it even allowed us the freedom to experiment with different sounds on our newest album, Jugando A Que No Pasa Nada.” —Grupo Frontera (Grupo Frontera)
Why is being independent important to you?: “It gives us the power of decision-making and accountability without relying on third parties. This autonomy allows us to act swiftly and adapt to changes in the market or consumer behavior. As a team we can identify shifts in consumption patterns and work towards addressing them on the same day, without needing to wait for approval or direction from a label. This freedom to maneuver quickly and make decisions on our own terms enables us to stay agile, innovative, and true to the artist vision.” —Lucas Barbosa, manager, Grupo Frontera
Grupo Frontera
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“Independence, to me, is having autonomy and ownership of your art. This makes me feel a closer connection to my audience because they know that what comes from me is from me.” —Laufey (AWAL)
Why is being independent important to you?: “So I can own my music and I can control my whole world more easily. Being able to work and keep my music in my possession [means] I can have everything in the future. That’s why I work with UnitedMasters.” —FloyyMenor (UnitedMasters)
The advice I’d offer any indie artist is…: “Establish and maintain a clear budget. By implementing a detailed budgeting system early on, I was able to allocate funds effectively, ensuring that I always had enough money set aside for crucial aspects of my career. By tracking income and expenses diligently, artists can make informed decisions about where to invest their resources, ultimately leading to greater financial stability and long-term success.” —310babii (High IQ/EMPIRE)
The advice I’d offer any indie artist is…: “Always ask ‘Why?’ The music business will make you pay for what you don’t know, and it’s your choice on how you choose to learn. If you do not educate yourself on what’s important for the longevity of your career and choose short-term gratification, you will end up paying for it in the long run.” —Jentry Salvatore, manager, 310babii
310babii
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“An indie artist has to have the understanding and knowledge to grasp that investing in their own career is crucial, whether in marketing, in making better content, in doing big tours and shows. An indie artist is one who makes decisions and pays for them from his own pocket.” —Fede Lauria, manager, Bizarrap (Dale Play Records)
The biggest benefit of being independent is…: “Maintaining creative control over the strategies and music that I create. [My song] ‘Daylight’ [had an] original release date scheduled for June, but I knew we had to get it out as soon as possible based on all the engagement we were building around it on socials. I called my manager and just told him we needed to get the song out, and the team made it happen. I think if I were signed to a [major] label, I wouldn’t have been able to make a last-minute change like that and the song wouldn’t have had as big of an impact.” —David Kushner (Miserable Man Music)
“I learned how to play in public. Taught myself how to play guitar and sing and write songs standing on street corners. If I were you, I wouldn’t sign any contracts, ever, if you don’t have to. Because it ain’t to your advantage. Unless they’re giving you a whole bunch of money — and even then, try and get the cash with a handshake. Let me put it to you like this: If you don’t know who the sucker in the deal is, it’s you.
Asking why being independent’s important is really beside the point. I didn’t set out to be independent. I was always seen as so confusing and so different that the people I was dying to do business with didn’t want me. The woman that discovered us, when she started realizing that I was going to be difficult to handle or tame, one afternoon in frustration, she threw her hands down on her desk and looked across at me and said, ‘Goddamn it, Charley Crockett. It’s a Coke and Pepsi world, and you are going to have to dance.’ She said my problem was that I just wanted to be Woody Guthrie and this was my one golden opportunity. Well, the only thing she was right about is I did want to be Woody Guthrie. Where we disagreed is, I don’t think you have one shot. You just have to keep rolling the dice.
At a certain point, I felt like I was out in the wilderness. And when you get far enough out there, the air is real good. You learn how to survive in it, and you just keep going. Don’t ever turn around.” —Charley Crockett (Son of Davy/Thirty Tigers)
Charley Crockett
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The advice I’d offer any indie artist is…: “You have to be persistent in selling your musical vision to find your fans and reach the masses. Being creative and trusting your instincts as an artist can help to level the playing field. And most importantly, don’t take no for an answer.” —Ken Levitan, Vector Management; manager, Charley Crockett
The biggest benefit of being independent is…: “I can work closely with my team and lead my projects, making sure my goals come to reality. At the end of the day, as the artist and mind of my project, that makes it easier for all to be on the same page.” —Junior H (Rancho Humilde)
The advice I’d offer any indie artist is…: “Trust the process.” —Key Glock (Paper Route/EMPIRE)
The advice I’d offer any indie artist is…: “Trust yourself, be authentic and see your artistic vision through. Continue to create the music that speaks to you that will resonate with your core audience, and don’t compromise for quick commercial success.” —Shaboozey (EMPIRE)
The biggest benefit of being independent is…: “Having the flexibility to move at your own pace. For example, if we want to release a record, we control that internally and can capitalize on any traction instantaneously — rather than having to get approvals from multiple parties. We live in a world where the consumer attention span is shorter than it’s ever been, so being able to strike while the iron is hot is ever so crucial to the success of an artist’s rollout.” —Abas Pauti, manager, Shaboozey
Shaboozey
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“It’s so important for an artist to be able to say yes or no without manipulation or punishment. I believe creative freedom is priceless. Art is beautiful. It is honest, it is therapy, it is healing, it is personal, and it is often disrupted and tainted by business minds and models looking to make a quick coin. While the independent route is not without its own risks [like] self-financing, I am truly grateful to be able to be in control of my life and my art.” —RAYE (Human Re Sources)
The advice I’d offer any indie artist is…: “Being independent doesn’t mean working alone! It’s an old saying, but it takes a village and it really does. Your team is everything. I firmly believe getting that right is essential for success.” —Paul Keen, manager, RAYE
“Being an independent artist is one of the most empowering positions to be in. Independent artists feel the weight of responsibility for the future of their careers, which I think oftentimes leads to an increase in grit and work ethic.
I think I’ve realized the power and value of a team that’s aligned with the artist’s vision. A small but effective team around an independent artist and the right strategic partnerships can make a huge difference.” —JVKE (AWAL)
The advice I’d offer any indie artist is…: “Right now, artist culture is very anti-major label. The seed of this is obviously that traditional label deals have been very exploitative. However, I’m noticing that, among young artists, this culture is breeding a fear of engaging with anyone who might be able to help scale their projects. I was speaking with a really talented artist the other day and they were telling me how they’re drowning simply trying to keep up with content creation and writing new songs. Yet, five minutes earlier, they were telling me how they never respond to any music pros that hit them up on socials, because it’s stupid for an artist to have a manager or label partner and give away money when they can do it all on their own. I had to stop them and point out the contradiction.
The great news is, the sort of predatory deals that sparked this label conversation in the first place aren’t all that’s on the table anymore. There are companies out there that allow artists to retain ownership of their music and maintain creative control, while still offering help with all the tasks artists don’t have the time for or network to facilitate, and they’ll do it for a very justifiable portion of the profit that is fractions of what artists had to give away in the past.
If you just want to write songs in your bedroom and hopefully pay the bills, then you might be able to swing it on your own. If you want to go big, building the right team is the best investment an artist can make. There are no billion-dollar businesses that are run by one person alone.” —Ethan Curtis, Plush Management; manager, JVKE
JVKE
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The advice I’d offer any indie artist is…: “A personal connection with your team is paramount. As the industry continues to shift, having a team that you trust and can envision being in your life for the next two, five, 10, 15 years is crucial. Katie Crutchfield has always had a very specific vision for Waxahatchee. While it has certainly evolved over the years, having a group of a few core, trusted team members around her has been key to keeping Katie’s goals focused and achievable.” —Reynold Jaffe, Another Management Company; manager, Waxahatchee (Anti-)
The biggest benefit of being independent is…: “Being in control of your intellectual property, how you monetize it, release it and promote it. At the end of the day, you then own all of your own IP, to sell or continue working as you’d like to, on your own terms.” —Dean Wilson, manager, deadmau5 (mau5trap)
“For Djo, the most important aspect of releasing music is to allow for people to discover the songs and who is behind them on their own. By staying independent, he is under no pressure to rush his campaigns.” —Nick Stern, manager, Djo (AWAL)
Why is being independent important to you?: “Because being a musician means being a part of the music industry, it begins to entangle creativity and business — which can be incredibly difficult and painful for artists. Being independent, we are able to maintain creative control over the vast majority of what we do, and it’s something I would never consider giving up.” —Khruangbin’s Laura Lee Ochoa (Dead Oceans)
Laura Lee Ochoa
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The biggest benefit of being independent is…: “As an independent manager who represents independent artists, we are afforded autonomy both creatively and strategically since there is less pressure to hit markers of supposed success that are often informed by financial obligation versus artistry. The music must come first, in its most pure and passionate form. If you bet on yourself, you’re sure to win.” —Dawn White, You and Me, Inc.; manager, Khruangbin
The advice I’d offer any indie artist is…: “Surround yourself with a team that you trust and you know will put your career and the integrity of your music first. I couldn’t do anything I do without my team, from my label to management and beyond. From American Idol to moving to Nashville to being thrown headfirst into the unknown world of the music industry, I’m so grateful I had all of them there to guide me, my music and my career from the very beginning.” —Chayce Beckham (Wheelhouse/BBR Music Group)
The biggest benefit of being independent is…: “I loved being involved [at BBR Music Group] with a small group of passionate people who woke up every day with an ‘us against the world’ attitude. While they have had great successes with Jason Aldean, Jelly Roll and Lainey Wilson, that same passion and drive remains.” —Clarence Spalding, manager, Jason Aldean
Who is “indie”?: The artists featured in this story meet the guidelines of Billboard’s Top Independent Albums chart, which includes labels distributed independently or through the indie division of a major-label group as well as labels that are independently owned and control their masters but are distributed directly through Universal Music Group, Sony Music Entertainment or Warner Music Group.
This story will appear in the June 8, 2024, issue of Billboard.
With an unprecedented number of openly LGBTQ+ artists making waves in the music industry, a casual observer could argue that representation in the business has reached a new high. But according to workers within it, representation is still severely lacking.
In a new survey published by Queer Capita, in partnership with Billboard and The Orchard, nearly half of LGBTQ+ music industry respondents revealed that they felt insufficiently represented within the industry. The State of the LGBTQ+ Music Industry Professional Survey gathered responses from nearly 300 LGBTQ+-identifying professionals within the music business.
A majority of respondents (77%) said that they felt somewhat or very comfortable being open about their sexuality in the workplace, while 64% of respondents said that the industry fosters a somewhat or very inclusive and supportive environment for LGBTQ+ professionals.
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That outlook changed, though, when professionals were asked about representation across all sectors of the industry. While an overwhelming 92% of respondents referred to LGBTQ+ representation as either “important” or “very important” for the industry, nearly half (48%) said they felt the community is somewhat or very poorly represented across all sectors of the business.
“As a manager, I feel good about my particular company. My concern is that as you get into the different formats and genres, many of them are not welcoming, and do not feel like supportive places as musical industries,” one respondent wrote in the survey’s open-ended response section.
When it comes to active support for LGBTQ+ people in the industry, the survey found that a mere 8% of respondents felt that their companies provided “adequate resources” for LGBTQ+ employees. Meanwhile, 21% said that their companies provided no resources to LGBTQ+ employees.
One respondent took that concern further, saying that the burden of support for the community should not fall solely on queer and trans professionals. “It’s critical to tackle unconscious bias for trans people. This should not fall on your resource groups or LGBTQ+ in addition to full-time jobs,” they wrote. “Many times, I was pigeonholed into DEI work on top of my full-time job. In reality, I don’t want to be in DEI, I want to work in music. We need to stop making our LGBTQ+ colleagues do all the work in addition to smashing glass ceilings.”
Additionally, 64% of those surveyed said that they had personally experienced or witnessed microaggressions relating to LGBTQ+ identities in the music industry. Just over a quarter (28%) of all respondents believed they had been passed over for promotions or raises due to their identity.
“I think we have a lot of LGBTQ+-identifying people in the music industry, but certain areas are still more unsafe than others,” one respondent wrote. “Working on the tech side, there are still a lot of regressive ideas about LGBTQ+ people and offensive comments or ‘jokes’ made during working hours.”
So, what can music companies do to bolster support for the community both during and outside of Pride Month? Respondents said that employee resource groups and diversity and inclusion workshops provided by their companies were “actively helpful” in creating a safe and supportive environment for LGBTQ+ workers. When asked what resources aren’t currently provided by their companies that they would like to see implemented, respondents pointed to mentorship programs (19%) and LGBTQ-specific networking events (17%) as their top choices.
“I feel pretty good about representation in our industry but I will say that I would love to see more LGBTQ+ bosses. Leadership could still use a bit of a shakeup,” wrote one respondent. “I’m very thankful that one of my first mentors was an incredibly badass artist manager. She’s an out lesbian who never shied away from her identity on the job. She showed me what it looks like to be an out, confident boss, and how that can win over clients and business partners. I aspire to the example she set still to this day.”
In a statement shared with Billboard, Queer Capita co-president Dan Iammatteo said that the nonprofit’s aim in publishing the results of the survey was to “utilize data as a tool to help keep the industry progressing on issues valued most by our community.” He added that the organization will use the results of this survey to “expand our collective impact by continuing to partner with industry DEI leaders, organizers, and champions to produce events and programs that remain free and accessible to all LGBTQ+ professionals at every level.”
SM Entertainment has issued a statement strongly denying rumors that NCT members Johnny and Haechan, as well as Heechul of Super Junior, are involved in a sex scandal that has gained increased scrutiny and attention both inside and outside Korea.
Earlier this week, allegations arose from different social media users detailing the alleged sexual affairs of Johnny, 29, and Haechan, 23, both members of SM Entertainment boy band NCT, with three women during a recent visit to Tokyo in March.
As NME notes, the claims stemmed from a Japanese nightlife gossip account on Twitter regarding three women said to be working in Tokyo’s nightlife industry as bar hostesses. Purported evidence of their time with the K-pop idols came via photos of three women holding hotel cards where the stars stayed, room interiors that point to five people drinking alcohol and smoking cigarettes together and one blurry photo that allegedly shows Johnny and Haechan entering the hotel with three women despite the fact that none of their faces can be readily identified. Captions and comments from the women describing their alleged experiences, as well as alleged text message conversations about meeting the K-pop stars, were also put forth as so-called evidence by the gossip account.
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Johnny and Haechan have not shared anything about the alleged encounters, but NCT 127 (the nine-member boy band that both singers are also a part of under the NCT brand) did fly into Japan on March 8, 2024 to perform a March 9 concert at the Tokyo Dome.
The claims soon went viral among K-pop fans and by Tuesday (June 4), SM Entertainment’s stock price had fallen from that day’s peak of 90,300 Korean won ($65.94) to 82,300 Korean won ($60.10) — though by press time, the stock had since rebounded to 85,500 Korean won ($62.44). The story even made it onto the evening news for KBS, the Korean national broadcaster, during a report about SM’s stock price drop.
Heechul of Super Junior, a more senior boy band under SM that’s been active for nearly 20 years, was also brought into the rumor mill after private photos of the singer with one of the women involved in the controversy made their way online. According to several blogs monitoring the situation, Heechul, 40, spoke about the news on the fan-messaging app Dear U denying that he drank or had meals with any of the junior SM Entertainment performers outside of work and that he is speaking with the label to clear any misunderstanding.
On Wednesday (June 5), South Korea’s Yonhap News Agency shared a statement from SM Entertainment denying any unsavory behavior from their artists. In the statement, SM labeled the rumors as “entirely false” and said they “constitute criminal acts that severely damage the artists’ reputations,” per Yonhap. The company added, “We have already gathered sufficient evidence regarding numerous posts related to these matters…we will not overlook such criminal acts and will take legal action against those involved without leniency or settlement, regardless of their nationality.”
SM Entertainment and representatives for NCT and Super Junior did not immediately respond to Billboard‘s requests for comment.
At European collective management organizations (CMOs), the hits just keep on coming. On Wednesday (June 5), SACEM announced record results for 2023, with collections up 5% to €1.49 billion ($1.6 billion based on the 2023 average euro-to-dollar conversion rate) compared to the previous year and distributions rising 17% to €1.23 billion ($1.33 billion). The French CMO also announced that its board has voted unanimously to extend Cécile Rap-Veber’s term as CEO.
The results come amid a thriving period for European CMOs. In April, GEMA, the German collecting society, announced that revenue rose 8.4% in 2023 to €1.28 billion ($1.4 billion). PRS for Music in the United Kingdom followed at the end of May, disclosing 14.2% revenue growth to £1.08 billion ($1.34 billion). However, in both of those cases, as well as SACEM’s, the results followed years of more substantial growth fueled by music fans eager to get back to seeing live shows in the wake of the pandemic. A year ago, for example, SACEM announced that it had taken in €1.41 billion ($1.54 billion) in 2022 — 34% more than it did the prior year.
Slower growth seems to be bringing with it a focus on controlling costs, and SACEM’s ratio of expenses to revenue collected is 10.76%, the lowest in its history. “What matters to me is the best value for our members,” SACEM CEO Cécile Rap-Veber tells Billboard. She adds that a more efficient disbursement of royalties boosted growth in distributions beyond that of revenue, saying: “We are distributing faster and faster.”
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The biggest source of revenue for SACEM was online, which rose 13% to €557 million ($602.67 million). The second biggest source was general royalties — a category that includes places where music is central, such as concerts, as well as places where it’s not — which was up 18.5% to €388 million ($420 million). Finally, broadcast rights, including TV and radio, brought in €318 million ($344 million).
Over the past few years, Rap-Veber has helped modernize the French CMO with an initiative known as “SACEM 3.0,” with a focus on delivering results at a reasonable cost.
“2023 was a year of confirmation in the implementation of our major strategic priorities,” Rap-Veber said in a statement. “We continued our transformation into Sacem 3.0 and worked to improve efficiency, ensuring the sustainability of our management account and optimising both our collections and the amount distributed to our members.”
More than ever, CMOs are competing for online rights — but also, on some level, for bragging rights. ‘Competition,” says Rap-Veber, “has forced a lot of us to improve.”
Last October, REVOLT — the Black-owned and operated digital cable network co-founded by Sean “Diddy” Combs in 2013 — celebrated its 10th anniversary. Now, eight months later, the multi-platform media company is celebrating its rebirth as an employee-owned entity.
Announced today (June 4) by REVOLT CEO Detavio Samuels, the historic business shift follows in the wake of Combs’ stepping down as company chairman last November after being served with multiple sexual assault lawsuits. In keeping with Samuels’ and his team’s determination that REVOLT remain Black-owned and operated, the equity move — in which Diddy sold his stake back to the company, which is then distributing shares among its current employees — underscores the company’s original vision to pioneer a new era of entertainment while also establishing a new media model.
“I needed my employees to be incentivized, excited, to feel like they have skin in the game,” Samuels exclusively tells Billboard. “It’s about generating wealth for marginalized communities who have been historically left out.”
Atlanta-based Samuels joined REVOLT as COO in 2020 and was promoted to CEO a year later. It’s his hope that “more CEOs embrace and embody this idea of linked prosperity: if the company wins, every single person wins. We’re trying to set an industry standard where this type of thing becomes the norm.” In the following interview, Samuels outlines REVOLT’s journey to that decision.
At what point was the decision made to seek a new owner for REVOLT?
After all of the allegations in November became clear, stepping into 2024 for that association with Sean Combs could be a distraction to the mission that we had been on for the last four years. So at that point in time, we had very real conversations. You know, you can’t force anybody to sell their shares in the same way that nobody could force you to sell your house. But Sean Combs understood the assignment and elected to sell his shares so that the mission could continue.
In March there were media reports that Richelieu Dennis, the owner of Essence magazine, was buying REVOLT. Was that true? Were there other suitors for the company?
There’s been tons of speculation and rumors, as you can imagine. What we wanted to do was find the best home for REVOLT. At the end of the day, we want this business, which is stronger than ever, to continue to thrive. So absolutely, we’ve had lots of conversations with people. What we realized is that you can search the whole world, but we came to the conclusion that the only people we needed was us. We were the ones that we were looking for. I hope that can be a signal just to us as Black people and the Black community in general about self-reliance, unity. Nobody’s coming to save us. We have all we need to save ourselves.
When you came on board as CEO, was such a notion on your mind then?
One of the biggest things I wanted to do was just make sure that employees could benefit in the success of this company. And it’s been a conversation that we’ve had, specifically at the management level, for the last four years since I’ve been here, looking for the opportunity to ultimately make it happen. I’m a big believer in the idea of linked prosperity, meaning that as REVOLT wins, everybody in our ecosystem wins. Our values are reflected in our business model. We’ve given 50-plus entrepreneurs capital with no exchange of equity. We’ve put more than $50 million recirculated back into the Black community every single year. We have the biggest deals with the biggest content creators, but all of them also have upside participation in the content we co-create.
When we’ve had big years and blown our numbers out the water, our employees got big bonuses — every single one of them. So this was kind of like the missing piece. How do we put our employees, who are giving us their blood, sweat and tears every single day, in a position where they can benefit from the economics of their genius? So I’m thrilled that we are finally at that point where the people who are the backbone of our success now to get to be shareholders in the company.
At the bottom of the press release announcing REVOLT’s new owners, it says, “Shares held by the company’s former chair have been fully redeemed and retired.” What does that mean exactly?
Some people still aren’t clear. So that [statement] is enough to make it very clear: He [Sean Combs] is not the chairman of the company. He’s not on the board of this company. And he owns zero equity and zero shares in this company.
How did you decide to distribute the shares among employees? Were they all given equal shares?
Everyone is not going to be given equal shares. What we’re doing right now is working through a distribution process where we can ensure everything is smooth and fair. And two of the key components, of course, will be seniority and our vesting schedule. We plan on rolling that out over the course of the next few months.
And by employees, that includes yourself and the rest of the executive team as well?
If you are a full-time employee at REVOLT, you will receive something from this distribution.
Was there any pushback to this plan?
There was no pushback. In fact, if anything, I need to celebrate my amazing board, who immediately latched onto the idea. Their work was critical in helping us get here, so no pushback. Everybody knows that REVOLT is a values-driven brand. We don’t just talk the talk, we walk the walk.
How many members comprise the board and what are the names of some of those members?
We’re going to keep that side confidential.
And new employees will be eligible to be shareholders as well?
New employees will be eligible for this equity incentive pool as well. In the short term today, there are no massive changes happening to our organizational structure. We will continue to stay on brand; the vision and mission are the same. We want to shift the narrative for Black people globally by building the world’s most powerful Black storytelling engine on the planet, powered by creators. In fact, as we lean into this idea of being powered by creators, we are trademarking a new term: we are “pioneering a new era of entertainment.” Media is in chaos right now. But we believe that we’ve got a new model that works in this chaotic world that we live in. And we’re getting ready to make a run and show the world what it’s supposed to look like. The only other way to say this is that we’re about to dream bigger and we’re about to dream Blacker. That’s all it is.
Diddy was very publicly the face of Revolt. How do you plan to forward and reinvent the brand out of his shadow?
Diddy wasn’t the face of the brand, I don’t think, inside of the company. Since I’ve been here, he’s never been part of the day-to-day operations and the teams have had zero interaction with him. So there’s no difference on our side; no difference with our clients and our affiliate partners, our customers. So really the only place where I think there’s this, you know, massive association with him and REVOLT is with the culture.
The way we will respond to that, first and foremost, is with this announcement so that everybody knows every time you support REVOLT, you are standing by the people and the employees who are building this thing. The second thing is, it was never supposed to be built on one person. REVOLT has never believed that it is one person, one idea, one lens. You can’t shift the narrative for Black people through one lens. So we will continue to bring on the biggest and baddest creators in the culture. And it is through this “for us, by us” model that we will get people to shake this association from Sean Combs and make it about the people who are building the culture today.
Are you planning to continue REVOLT’s events business as well as the television and podcasting initiatives?
Last year’s REVOLT WORLD summit was just the pilot and it took off like a rocket ship: 30,000 people [in attendance] during three days. Now we’re moving ahead with our vision and strategies clear. We haven’t announced this year’s REVOLT WORLD yet, but it will be in September. Last year’s was sponsored by Walmart, Pepsi, McDonald’s and other brands who have continued to stand by us through all of this.
The other piece is about this new era of media. Gone are the days where there’s a single-lane media company, where you can only be cable, only be a podcast, or only be live events. We believe we have this special model where we are able to be fast, efficient and effective, partner with the dopest creators in the culture, shoot once and be able to deliver that in whatever format — cable, streaming, podcast, live events — that our audience wants to consume it: Spotify, Apple, all cable, CTV, YouTube, so be it. It’s imperative that we reach our audience wherever they live and breathe. You name it, we’re going to be there.
What is REVOLT valued at and is it profitable?
I can’t tell you the valuation. But REVOLT has been profitable since at least 2018. I took over [as CEO] in the COVID year, 2020. If you compare the numbers we finished in 2020 to the numbers we finished in 2023, EBITDA is up 3.5x. If you want to compare advertising numbers, those are up six times. The business is healthy, the business is sound. That’s why we’re ready to make this next run.
Are there plans to continue to shop REVOLT in the future, or is this the ownership structure you guys are committed to now?
I am 100% committed to this new ownership structure. I’m big about the history and the history of America says that Black people have been responsible for building trillion-dollar industries in this country, whether we’re talking about the cotton and tobacco industries or now hip-hop. But they’ve never been able to fully reap from the economics that their hard work and genius have built. Black and brown people deserve to benefit from the economics that their genius creates.
A second thing also underscores my commitment and why this announcement is so important and historic. Usually when you run into these kinds of situations, the companies reflect what I consider the old America majority: white people. Marginalized groups barely get a benefit when these types of things take off. But with REVOLT, you’re talking about a company that’s majority Black and 50% women. So when we make this run to become the next Black unicorn, when we hit that billion-dollar valuation, those people who have historically been left out of the wealth-building opportunities in America will be left out no more. So for those reasons, I’m committed. Does that mean that we won’t have to take back equity in order to raise capital to make that run to that billion-dollar number? No. But what it means is our employees will always have a share and ownership in this company that they’re creating.
With the ownership situation behind you, what are you looking forward to next?
I’m most excited about the bunch of coming announcements that I’m sitting on right now and can’t wait to roll out. For now, people can see that we’ve started to sow some seeds, like launching REVOLT Sports. People may think we’ve been a little quieter than usual. And in full transparency, we have been: the only hit show we have running at this time is Drink Champs on YouTube. But they’re about to find out really quickly that REVOLT is about to get real loud real fast. So ask me this question in December, and I’m sure I’ll have plenty to talk about.
Revolt announced on Tuesday (June 4) that its employees will become the company’s largest group of shareholders.
The announcement follows a report in March that Sean “Diddy” Combs, who founded the company in 2013, sold his shares to an anonymous buyer. Combs is facing multiple sexual abuse lawsuits, with two more complaints filed against him in May; he has denied any wrongdoing.
In a statement on Tuesday, Revolt CEO Detavio Samuels said “we succeed because we have a dedicated team who has been committed to advancing our purpose, our community, and our culture every single day.”
“Without question, they deserve participation in our growth,” he added, “and I could not be more honored to continue on this journey with them, leveraging our collective strength, pushing boundaries, and achieving new heights together.”
Speaking to The New York Times, Samuels also noted that “One-hundred percent of Sean Combs’s shares have been redeemed and retired” and “we have completely separated and dissociated from each other.”
Combs stepped down as the chairman of the Revolt board in November, not long after he was accused of sexual and physical abuse by his former girlfriend, Cassie Ventura, who performs as Cassie. (The suit was settled a day later.) Earlier this year, Combs’ Miami and Los Angeles homes were raided by federal agents, part of what Homeland Security described as “an ongoing investigation.”
Samuels told The Hollywood Reporter that Revolt has been unaffected by the allegations against its founder. “Since [his departure], there’s been no interaction or anything in terms of leading or driving the brand,” he said in March. “We lost no clients, we lost no employees, we didn’t lose a dollar. Q4 was the largest quarter in the history of Revolt, and 2023 was the best advertising year we’ve had in the history of Revolt. In all ways it was record-breaking, even in the middle of a crisis.”
It’s become more common for new media companies to offer employees a stake in their success. Publications like Defector, Hell Gate, and 404 Media are worker-owned. The start-up Puck also offers employees “a small ownership stake in the company,” according to The New York Times.
Legendary music attorney John Branca has made a $5 million gift to Los Angeles’ Occidental College that will establish the John Branca Institute for Music at the school, it was announced Tuesday (June 4).
David Kasunic, associate professor of music at Occidental, will serve as inaugural director at the institute, a music teaching and learning facility based at the university. The donation will allow Occidental to expand its music department, with a larger focus on contemporary music and enhancement of the school’s music business curriculum, as well as the addition of cutting-edge technology and sound production facilities. Peter Grueneisen of nonzero architecture has been hired to renovate the music department’s facilities.
The institute will also work with community colleges, particularly Los Angeles City College, to establish a direct pathway to increase transfer opportunities for students from diverse backgrounds who are interested in studying music at Occidental. It will additionally develop special programming and joint research activities in conjunction with the Harvard Negotiation Project based at Harvard Law School and directed by Harvard Business School professor Jim Sebenius.
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Occidental is a four-time honoree on Billboard‘s annual list of the top music business schools in the United States.
“Occidental College has a diverse student body and provides the most personalized undergraduate education in Los Angeles,” said Branca, who graduated from the College cum laude and with honors as a political science major in 1972, in a statement. “As a trustee and alumnus, I am proud of the College’s mission and academic excellence.”
Other notable Occidental alumni include President Barack Obama (1983) and former Warner Music Group CEO Stephen Cooper (1968).
“John is a giant in the music business and he is a true believer in the kind of personalized teaching and learning that can only happen at a small liberal arts college,” Occidental College president Harry Elam added in a statement. “John’s gift, coupled with the state-of-the-art music production facilities we already have in place, will make Occidental a truly exceptional place to study music. We are so grateful to John for his generosity and vision in supporting the John Branca Institute for Music Education.”
Over a decades-long career, Branca’s clients have included Aerosmith, The Beach Boys, the Beatles catalog, Dr. Dre, Fleetwood Mac and Berry Gordy; he currently co-manages the Michael Jackson estate. He has been an Occidental trustee since 2003 and is a founding member of the Barack Obama Scholars Program Advisory Council at the school. In 1998, a gift from Branca that went toward the renovation and expansion of Occidental’s Johnson Student Center led to the naming of the Branca Family Patio in honor of Branca’s parents. Additional educational donations made by Branca have led to the creation of the Branca Family Field at UCLA’s Jackie Robinson Stadium, the Branca Baseball Facility at NYU and the Branca Recruiting Patio for UCLA Basketball.
As Canadian Music Week kicks off its 42nd anniversary, the festival and conference is undergoing a big change.
The major music event, which brings artists and industry to Toronto every year for a week of performances and panels, is changing hands. Festival founder and president Neill Dixon announced his retirement today (June 3) at the welcoming address for the CMW conference, with Toronto mayor Olivia Chow in attendance.
The festival has been acquired by Toronto-based Loft Entertainment and American hospitality and sports company Oak View Group, who plan to expand its offerings while maintaining Dixon’s vision.
Recently named one of Billboard Canada’s Power Players, Dixon was on hand at the June 2 inaugural Power Players event, presenting Gary Slaight with the Power Players Impact Award as his final public appearance before announcing retirement.
Under his leadership, CMW has grown into a major hub for industry events, hosting the Live Music Industry Awards, The Indies awards, Jim Beam National Talent Search, Radiodays North America and more.
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“It has been an incredible journey to see Canadian Music Week grow from a small gathering of music lovers to one of the most influential music festivals and conferences in the world,” Dixon says.
Loft Entertainment and Oak View Group (OVG) will keep the event’s headquarters in Toronto, as they look ahead to its future. Loft is a new venture from industry titan Randy Lennox, former Universal Music Canada CEO and Bell Media President, launched in 2023.
The creative services company’s partnership with OVG on the acquisition boosts the latter’s expansion into Canada. OVG already has partnerships with Canadian sports organizations Canada Basketball and Great Canadian Gaming, and is currently leading a major renovation of Hamilton’s FirstOntario Centre. (It was also recently entangled in the U.S. Department of Justice’s antitrust complaint against Live Nation).
With an American partner on board, it seems likely Canadian Music Week will look to grow its international footprint, while remaining a home for Canadian music activity. Details for the 2025 edition, the first under the new ownership, are coming soon.
CMW is on now, until June 8. Find festival and conference programming on the event website.
This article was originally published by Billboard Canada.
MNRK Music Group president/CEO Chris Taylor is resigning from his post effective June 28, the company announced Monday (June 3). Taylor, who will be succeeded by COO Sean Stevenson, is taking the company’s artist management division with him.
Based in New York, Stevenson will begin leading MNRK on July 1. He was promoted to COO in July 2022 after previously serving as executive vp/GM.
“We wish Chris the best in his future endeavors,” said Stevenson in a statement. “He’s been a great leader and partner over the years, and I look forward to continuing the growth of MNRK with the whole team.”
MNRK’s artist management roster currently includes Powfu, Lights, The Afghan Whigs, Diana Gordon Arkells, Delilah Montagu, Daniel Lanois, Alice Ivy, Robert Finley, The Wild Feathers and Great Good Fine Ok, among other acts.
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Taylor joined MNRK, at the time called Entertainment One (eOne), in 2016 to run the music division. As part of the eOne team, he was involved in overall strategy and the company’s sale to Hasbro in 2020 for $4 billion. In 2021, Hasbro sold the music division to Blackstone for a reported $385 million and eOne Music was renamed MNRK Music Group.
Taylor has been named to Billboard‘s Indie Power Players list multiple times.
MNRK’s artist roster includes High on Fire, Underoath, Ace Frehley, Kash Doll, Fox Lake and Pop Evil; it also distributes the Dualtone Music Group and Last Gang imprints. On the publishing side, it boasts deals with such songwriters as Lauren Faith, Destiny Rogers and 9am. According to a press release, the company’s publishing catalog includes 54,000 music tracks.
Global investment giant Blackstone said on Monday it would pay a penny more to take over Hipgnosis Songs Fund (HSF), the London-listed company that owns Red Hot Chili Peppers’ catalog, because in a revised takeover plan disclosed Monday it is paying less in advisory fees. In a joint announcement, Blackstone and HSF’s board of directors said they approved the offer […]