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Entertainment management company Milk & Honey Music + Sports has acquired U.K.-based firm Bigfoot Music Management, Milk & Honey tells Billboard.
Under the terms of the deal, Bigfoot is being absorbed by Milk & Honey, meaning the firm will exist entirely under the Milk & Honey banner. As a result, Bigfoot’s current staff will now be part of the Milk & Honey team, and its entire client roster, which includes pioneering electronic producers Adam Beyer and Joris Voorn, will become Milk & Honey management clients. Beyer’s longtime manager, Jeremy Ford, will be senior vp of electronic for Milk & Honey globally and be based in the company’s London offices.
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The move further expands the dance/electronic footprint at Milk & Honey, as the company hired longtime music manager Andrew Goldstone as head of electronic music this past March. Goldstone brought manager Taren Smith into the company, along with clients including the dance/electronic artists Kream and Sullivan King.
“As diverse as the Milk & Honey brand is in mainstream music genres, we are equally invested in underground music,” Milk & Honey founder and CEO Lucas Keller tells Billboard. “The company looks after unique talent across all facets of the music business, and this deal with Bigfoot to join Milk & Honey represents a further investment into techno and electronic music which is a top priority for the company. We are very excited to have Jeremy and his team in our UK office and joining the global M&H outfit.”
Over the years, Ford and his team have helped guide and grow international dance brands, including Beyer’s Drumcode label and Voorne’s Netherlands-based house and techno label, Spectrum. Other artists on the Bigfoot roster who will now be represented by Milk & Honey include Juliet Fox, Sarah Story, Sam Wolfe, Simon Patterson and Will Atkinson.
“Over the past three decades, Jeremy Ford and Bigfoot Management have built one of the most respected operations in electronic music,” adds Milk & Honey head of artist management & sports Dave Frank. “From Adam Beyer and Joris Voorn to the iconic Drumcode brand that encompasses record label, events, fashion and globally syndicated radio, their team has played a big role in shaping modern techno and house. We’re thrilled to welcome the Bigfoot team into the Milk & Honey family as we combine our networks, relationships and resources in representing and growing world-class talent who are and will be the global stars that drive our scene into the future.”
“Since its inception, Bigfoot has always championed talented artists who possess authenticity and ambition as well as brands, labels and events that also share a purposeful, global vision,” says Ford. “We’ve always strived to embrace, nurture and develop visionary leaders within the scene. Joining Milk & Honey represents an incredible opportunity for us to expand our reach and strengthen our ability to serve artists in a wider capacity. We share the same values, drive, work ethic and belief in building long-term careers so with this partnership and the fusion of two such talented teams we look forward to an exciting future that will no doubt shine a brighter spotlight on those we represent.”
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Atlantic Music Group (AMG) has tapped A&R veteran Jeremy Vuernick as its next executive vice president.In the new role, Vuernick will report jointly to AMG CEO Elliot Grainge and Atlantic U.K. co-presidents Ed Howard and Briony Turner, overseeing the AMG roster to sign and develop new artists with global potential. He will be based in London.
The announcement follows the recent promotion of Howard and Turner to AMG’s global leadership team, a move the label has said was “designed to create tighter collaboration across the two territories, and to generate greater global impact for Atlantic’s world-class roster”.
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In the past year, Atlantic has enjoyed transatlantic success for U.S. breakthrough artists such as Alex Warren, Teddy Swims, and Benson Boone, as well as British firebrand Charli XCX.
Vuernick brings with him two decades of experience in the music industry, largely in the A&R sector. He joined Capitol’s Astralwerks imprint in 2013, serving in senior capacities at the label before being promoted to executive president of A&R at Capitol Music Group (CMG) in 2019, where he oversaw the company’s portfolio of labels.
Prior to his tenure with Astralwerks, Vuernick held senior roles at independent label Ultra Music, overseeing A&R, marketing, and sales. More recently, in 2024, Vuernick founded the Los Angeles-based independent company Queens Road Music in partnership with Atlantic.
The U.K. has long been one of the most influential markets in the world and a cultural leader in developing and exporting exceptional global talent,” said Vuernick in a press release.
“With Elliot cementing the natural relationship between the U.K. and US, and Ed and Briony leading the charge as two of the best creative leaders in the business, our combined force will take Atlantic and its artists to a new level of recognition and success.”
Grainge added: “I have worked with Jeremy for a number of years and I’m excited to officially welcome him into the AMG family. He comes to us with outstanding experience, instincts, and passion for artists, so he’ll be an ace addition to our newly aligned teams.
“Under the expert leadership of Ed and Briony, Atlantic UK has been a formidable source of chart-topping, game-changing artistry. With Jeremy now based in London, we are continuing to build our bridge across the ocean, ramping up our collective A&R and cultural firepower.”
Trending on Billboard As the holiday season gets underway, an ultra-rare Mariah Carey demo tape is coming up for auction. This centerpiece of an historic archival release sourced from the collection of legendary producer/DJ Arthur Baker, the demo tape is being auctioned by Wax Poetics. The auction preview opens today (Nov. 11) with bidding going […]
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Last week, GoldState Music founder and managing partner Charles Goldstuck gathered his investors along with a collection of music’s most brilliant minds for “Conversations in Music,” a three-day conference about the future of the business.
Goldstuck has been convening exclusive thought-leadership meetings for decades in his many roles: he’s the founder of The Sanctuary at Albany, a state-of-the-art recording studio and music academy in the Bahamas; the executive chairman of TouchTunes Interactive Networks, and a major-label veteran who ran business operations for BMG’s music labels and co-founded J Records with Clive Davis, building it into the RCA Music Group.
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But the South African philanthropist said that this year’s event — which he hosted at the luxurious Pier Sixty-Six resort in Ft. Lauderdale, Florida — marked his first event of such scale and urgency, reflecting the speed at which industry dynamics are changing.
Each expert-moderated conversation was packed with insight, and reflected Goldstuck’s own keen interest in the intersection of AI and music — he is currently funding the AI & African Music initiative at his alma mater, Witz University in Johannesburg, to empower creatives to use AI to preserve, teach or co-create African musical traditions and sounds, and recently published a paper arguing that music companies ought to negotiate deals with AI companies to set precedent before courts and lawmakers weigh in.
Among the conference highlights: Water & Music’s AI analyst and music producer Yung Spielberg demonstrated how to make songs using Suno. MIT professors showcased the cutting-edge music technology their top students are building. DAYA, a GoldState artist who shot to fame with her feature on Chainsmokers’ “Don’t Let Me Down,” revealed how she’s navigating the modern industry and shared her new music. Dr. Tamay Aykut, founder and CEO of Sureel, broke down the possibilities for how to determine which rights holders should get credit for music produced with AI models trained on their works.
We asked Goldstuck for his five top takeaways from the invite-only affair – here’s what he pointed to.
Publishers are gaining leverage. The deal between Kobalt and ElevenLabs establishes a 50-50 split between publishers and recorded-music rights holders, a big improvement from streaming and sales, which have paid out lower rates to publishers. This sets a new precedent for future generative AI licensing deals, with publishers now in a position to secure stronger economic outcomes as the landscape evolves. Industry surveys estimate that more than half of younger creators already use AI tools in their workflows, suggesting that generative AI could make songwriters more productive.
Laurent Hubert (Left), CEO of Kobalt Music, Mary Megan Peer (Center), CEO of peermusic, and Kristin Robinson (Right), Senior Correspondent at Billboard – at the GoldState Conversations in Music Conference
Courtesy of GoldState Conversations in Music Conference
Music catalog deal volume is at a record high. Buyers include both established music companies and financial investors. There have been no significant defaults or financial problems across these transactions in recent years, fueling the highest level of investor confidence seen in the sector since the Napster era. The market is competitive, but investors are employing more sophisticated knowledge and due diligence thanks to increased transparency from the digital music ecosystem. And yet, there are only two major players in the catalog valuation space. Is there room for more?
The indies are rising. Independent music companies claim nearly half the global market share and the majority of new releases in 2025. Improved creator tools, the proliferation of distribution options, and the ease of accessing audiences across more than 700 digital and social platforms worldwide are powering the expansion of independent distributors like Symphonic Distribution, Too Lost, Create Music Group, and Empire, all of whom are posting double-digit annual growth. Financing for independent creators is getting more sophisticated too, with leading distro platforms now offering artists advances based on real-time consumption data.
Ghazi Shami (Left), Founder and CEO of EMPIRE, and Priyanka Khimani (Right), Founding Partner of Khimani & Associates – at the GoldState Conversations in Music Conference
Courtesy of GoldState Conversations in Music Conference
Investing in China and India is about to get easier. Historically, Western artists and rightsholders lacked clarity on Chinese consumption, but Luminate’s new licensing partnership with Tencent Music promises new transparency from the world’s fifth-largest music market. Luminate is also ramping up its Indian market data coverage, as Billboard launches in India.
AI detection and attribution technologies will be key. Only a handful of formal licenses have been announced for generative AI platforms and music, but commercial and licensing momentum is building. Landmark agreements include those between Kobalt and ElevenLabs, Merlin and ElevenLabs, and the Universal Music Group with Udio. As Goldstuck wrote in his paper, Past Precedent, Future Proof: Towards a New Commercial and Legal Framework for AI-Generated Music, generative AI platforms and rightsholders should move towards collaboration through negotiated settlements, not litigation, so as to pave the way for a more standardized commercial licensing regime for AI-generated music. Accurate detection will help monitor the use of tracks for training, while new attribution systems will be critical for properly crediting and compensating rights holders and creators for outputs. Platforms like Deezer, which offers detection, and Sureel, which specializes in attribution, are showing early promise in moving the industry towards proactive AI music tracing and licensing, but widespread adoption will require a lot more work.
Charles Goldstuck (Left), Recording Artist Daya (Center), and David Conway (Right), President of Hard 8 Working Group and Daya’s Manager – at the GoldState Conversations in Music Conference
Courtesy of GoldState Conversations in Music Conference
Next week, Harbourview Equity founder and CEO Sherrese Clarke Soares brings her investors to Miami for another series of panel conversations, as the investor-conference circuit continues.
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iHeartMedia struck a new partnership with TikTok that will see TikTok creators featured in long-form audio and video content across iHeart platforms, it was announced on Monday (Nov. 10).
The deal includes the launch of the TikTok Podcast Network, a slate of up to 25 podcasts from TikTok creators. Under the agreement, iHeartMedia will open co-branded podcast studios in Los Angeles, New York and Atlanta that will be set up for both audio and video content. The podcasts will be distributed by iHeartPodcasts and made available on the iHeartRadio app and other podcast platforms. Listeners will also be able to watch highlights and clips from the podcasts on TikTok.
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Another component of the deal is TikTok Radio, which will pair TikTok creators and established iHeartRadio personalities on iHeart broadcast radio stations across the U.S. and digitally on iHeartRadio. According to a press release, “TikTok Radio will feature not only TikTok’s hottest new songs, but also trend-driven storytelling and emotional context behind the music,” with segments including Behind-the-Charts, New Music Fridays and On the Verge.
iHeart and TikTok will additionally team up on iHeart events like the iHeartRadio Music Festival and iHeartRadio Jingle Ball, “empowering brands to activate with a dynamic network of content creators,” according to the release.
More details on the partnership will be announced in the coming months.
“This partnership connects TikTok’s cultural energy and creator community with the unmatched scale and reach of iHeartMedia,” said Rich Bressler, president, COO and CFO of iHeartMedia, in a statement. “We’re giving creators access to the biggest audio platforms in America — creating new ways to tell stories, entertain, and build deeper connections with fans. Together, we’re combining our vast networks to deliver relevant content on a massive scale. It’s a win for creators, fans, and brands alike.”
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“At TikTok, empowering creativity and connecting communities are at the heart of everything we do,” added Dan Page, global head of media and licensing partnerships at TikTok. “This partnership with iHeartMedia opens up exciting new opportunities for creators and brands to reach wider audiences, collaborate across platforms and extend their creativity beyond the TikTok platform. Together, we’re amplifying the connection between artists, creators and our community through the shared power of cross platform storytelling.”
TikTok and iHeart kicked off their partnership earlier this year with the singing competition Next up: Live Music, which was hosted exclusively on TikTok LIVE.
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Beyond the critical acclaim and handy sales boost, the U.K.’s Mercury Prize comes with an added bonus: a £25,000 ($32,000) cash prize for the chosen artist. For some previous winners – like Alt-J (2012) and Antony and The Johnsons (2015) – the money has covered the expenses of being a touring act, while Badly Drawn Boy (2000) infamously threw the cheque away in the heat of the winning moment (his cash prize was ultimately honored).
Now Sam Fender has joined a number of past winners by making a statement and donating the entirety of the cash prize to charity. The Music Venue Trust, a charity that supports grassroots music spaces and the scene as a whole, will be the beneficiary of Fender’s generosity. Fender joins previous winners such as Ms. Dynamite (2002) and M People (1994) who have made public that they donated their cash winnings to causes close to their hearts.
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Fender was awarded the Mercury Prize, an annual prize for an outstanding LP by a British or Irish artist, in his hometown Newcastle upon Tyne, England (Oct. 16). His third studio album People Watching saw off competition from Fontaines D.C., Pulp, FKA twigs, PinkPantheress and more at the ceremony which was held outside of London for the first time in its history.
People Watching remains the fastest-selling British album of 2025, and on Saturday (Nov. 15) a live concert film shot at his 80,000-capacity London Stadium show will be broadcast on YouTube. A deluxe edition of the album features collaborations with Olivia Dean and Elton John, and is set for release on Dec. 5.
The Music Venue Trust works to protect and secure the future of grassroots venues across the country. In 2024 a report by the charity shared that grassroots music venues operated on a profit margin of just 0.48%, with 43.8% of them reporting a loss. In 2024 alone, 25 music venues closed in the U.K. due to rising costs for venues and changing consumer habits.
“I wouldn’t be doing what I am doing today if it wasn’t for all the gigs I played around the North East, and beyond, when I was starting out,” Fender said about the reasons for the donation. “These venues are legendary, but they are struggling.”
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Fender has worked previously with the MVT, most recently donating £100,000 from his 2024 U.K. arena tour via a voluntary £1 ticket levy. He joins acts such as Katy Perry, The Last Dinner Party and Enter Shikari in making the commitment; Coldplay pledged 10% of all revenue from the U.K. leg of the Music of The Spheres tour to the MVT.
Mark Davyd, chief executive and founder of the Music Venue Trust, said, “This is an incredible gesture by Sam, demonstrating once again that artists absolutely understand how vital grassroots music venues are to their careers and to their communities. We are honored to accept this donation and will ensure every penny of it makes a direct difference to the campaign to keep live music at the heart of our towns and cities.”
Trending on Billboard Latin music executive Jochy Rodríguez has launched a new independent agency, Joch Entertainment, he tells Billboard. Rodríguez — who has spent the past nine years as senior vp of promotions and marketing at WK Entertainment — will focus the company’s efforts on marketing, management, consulting and radio promotions. “This new chapter represents […]
Trending on Billboard K-pop music giant HYBE said on Monday that concerts by BTS member Jin, SEVENTEEN and TOMORROW X TOGETHER helped drive its third quarter revenues up 38%, but lagging album sales contributed to an overall unprofitable quarter. Operating profit, which measures a company’s total core business earnings after interest and tax are taken out, […]
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Music tourism, a growing sector, is in the spotlight more than ever after Puerto Rico’s tourism and economic boom following Bad Bunny’s residency.
The ripple effects were among the topics of discussion during the annual Music Tourism Convention, which has been taking place for a decade and, for the first time, was held in the Caribbean, specifically on the island of Anguilla from Nov. 4 to 7.
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Governmental delegates, entrepreneurs and businesses from Canada, Saudi Arabia, Spain, the United States, Belgium, the United Kingdom, Argentina, Barbados, Saint Vincent, St. Maarten, Martinique, Trinidad and Tobago, the Grenadines, the Virgin Islands, Panama, and the Dominican Republic traveled to this British territory known for its pristine beaches, with the aim of sharing and exchanging ideas about the development of events and how to maximize entertainment resources.
The great success of Bad Bunny in attracting tourists to Puerto Rico and boosting the island’s economy sparked interest among neighboring countries and brought to mind Jamaica, which at one point did something similar with the Marley dynasty.
Although local summer carnivals and festivals attract tourists to the Caribbean, the rest of the year remains underutilized.
“The cultural heritage of the Caribbean is very extensive, but it has not been utilized as it should be,” explained Davon Carty, CEO of Anguilla Music Production and Publishing, speaking about the host island, during one of the panels. “We have great musicians on the island besides our legendary star, Bankie Banks, so we want to showcase them to the world,” he added.
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Another important point discussed by attendees was the need to not only rely on their international stars to promote and publicize their territories but also to make venues and public spaces available to interested artists, equipped with the facilities needed for their performances or content creation.
“In Miami, it seems like everything is Latin music, but it’s not; we have many more musical movements that we want to promote,” explained Connie Kinnard, senior vp of the Greater Miami Convention and Visitors Bureau. “We want to broaden the musical horizon. For example, electronic music, which is very strong,” she added. Meanwhile, John Copeland, director of arts and cultural tourism in Miami, spoke about various attractions that can be offered to tourists. “Now in Miami, we have tours to places where music videos have been filmed. Not just the homes of celebrities are attractive; there’s so much to show people,” he said.
From Canada, Allegra Swanson of Music Nova Scotia, a territory where the renowned Juno Awards take place, shared advice based on her experience: “Hosting an awards ceremony definitely boosts tourism and the economic development of a place, but it also allows talents to be showcased and important partnerships with sponsors to be formed,” she said.
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From Saudi Arabia, Hala Alhedeithy, general manager of strategies at the Saudi Music Commission, led another interesting panel in which she spoke about integrating local talent into important activities in cities like Riyadh, where efforts are underway to make it an attractive destination. Lastly, Mexican Pablo Borchi Klapp, director of events and sponsorships at Sound Diplomacy — a company that not only produces the convention but also provides consultancy on the economic and social value of creative industries — shared his experience in organizing tours for tourists with a musical emphasis, which include visits to restaurants and venues showcasing various types of music.
In 2026, Sound Diplomacy will produce the Music Cities Conventions in Kingston upon Hull in the United Kingdom and in Alberta, Canada.
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Music stocks had their worst week in three months, as most companies that reported earnings this week were penalized for not offering more to investors. Spotify, Live Nation, SM Entertainment and Reservoir Media all finished the week ended Nov. 7 in the red — though live entertainment companies Sphere Entertainment and MSG Entertainment bucked the trend by posting sizable gains after putting out their quarterly earnings reports.
The 19-company Billboard Global Music Index (BGMI) fell 5.0% to 2,703.11 as losers outnumbered winners 15 to 4. After soaring earlier in the year, the BGMI is now 13.3% below its all-time high of 3,117.20 (in the week ended June 30) and is now equal to its value in early May.
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iHeartMedia was a notable exception to the carnage. The radio company’s shares jumped 55.9% to $4.63 after a report at Bloomberg said the company is in talks to license its podcasts to Netflix. Netflix is known to be seeking video podcast content and has also reportedly approached SiriusXM about distributing its podcasts. The week’s high mark of $4.77, reached on Thursday (Nov. 6), was iHeartMedia’s highest mark since March 17, 2023.
Sphere Entertainment Co. rose 12.6% to $77.08 after the company’s earnings report on Tuesday (Nov. 4) showed an improvement in the Sphere segment’s operating loss. Led by the popularity of The Wizard of Oz, the number of film viewings, called The Sphere Experience, rose to 220 from 207 in the prior-year period. Sphere’s shares are now up 81.5% year to date.
MSG Entertainment (MSGE) shares gained 5.3% to $46.51 following the company’s earnings report on Thursday. MSGE’s revenue jumped 14% to $158.3 million while its operating loss deepened to $29.7 million from $18.5 million a year earlier. J.P. Morgan raised its price target to $47 from $41, citing management’s comments on pricing and higher expectations for the Christmas Spectacular at Radio City Music Hall.
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Companies such as Live Nation and Spotify reported solid results but suffered a large share price decline — part of a trend that extends well beyond music companies, Bernstein analysts wrote in an investor note on Thursday: “We’ve seen a brutal theme emerge across the consumer [technology, media and telecommunications] sector: stocks that deliver perfectly in-line or modestly better than expected results are still getting sold.” Growth is not good enough, they explained, and investors are “shooting first and asking questions later” when a company doesn’t have a “bulletproof guide” for the next year or two.
Live Nation shares ended the week down 6.0% to $140.51 after the company reported third-quarter earnings on Tuesday (Nov. 4). Despite showing continued revenue and adjusted operating income growth, Live Nation’s share price fell 10% the following day, though the price recovered some losses in each of the next two trading days. Bernstein maintained its $185 price target and called the sell-off a buying opportunity, but numerous other analysts lowered their Live Nation price targets, including Oppenheimer (from $180 to $175), Evercore (from $180 to $168), Morgan Stanley (from $180 to $170), J.P. Morgan (from $180 to $172) and Roth Capital (from $180 to $176).
Also releasing third-quarter earnings on Tuesday was Spotify, whose stock fell 5.9% to $616.91 in the aftermath. The company reported 12% revenue growth, but the title of Bernstein’s investor note on Tuesday perfectly captured Spotify’s need to constantly impress investors: “When you trade at 50x EPS, you’d better make sure everybody’s happy.” Meanwhile, J.P. Morgan called the company’s fourth-quarter outlook “slightly mixed”: The company’s guidance on monthly average users and gross margin were “above expectations,” it said, but guidance on subscribers, revenue and operating income were lighter than expected. Guggenheim lowered its price target to $800 from $850, noting that results met expectations but that “questions remain” on Spotify’s ability to improve margins through price increases.
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Elsewhere, Reservoir Media fell 3.0% to $7.37 following the release of its quarterly earnings on Tuesday, while Warner Music Group, which reports earnings on Nov. 20, fell 5.4% to $30.23. Universal Music Group, which reported earnings on Oct. 30, dropped 3.4% to 22.48 euros ($26.01).
K-pop company SM Entertainment fell 14.1% to 102,600 KRW ($70.47), having dropped 9.6% in the two days following the release of third-quarter results on Thursday. Other K-pop companies also experienced large declines as HYBE dropped 10.4%, JYP Entertainment dipped 11.0% and YG Entertainment sank 21.3%, likely because of a report that BLACKPINK’s next album has been delayed until January 2026.
Most indexes had an off week. In the U.S., the Nasdaq composite fell 3.0% to 23,004.54, marking its worst week since April. The S&P 500 dropped 1.6% to 6,728.80. The U.K.’s FTSE 100 sank 0.4% to 9,682.57. South Korea’s KOSPI composite index plummeted 3.7% to 3,953.76. China’s Shanghai Composite Index rose 1.1% to 3,997.56.
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