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Music talent agents Michael Gorfaine and Sam Schwartz were honored at the Los Angeles Chamber Orchestra’s (LACO) 2024 Gala Celebration on Saturday (April 6) at the Skirball Cultural Center’s Ahmanson Ballroom in Los Angeles. The agents, co-founders of Gorfaine/Schwartz, received the LACO Hollywood Ally Award.
In accepting his award, Gorfaine said, “John Williams shared something with me that I believe should be a guiding principle: ‘Be in service to music.’ It’s our responsibility to support the wonderful musicians who play, the talented composers who write, and the dedicated teachers who teach.”

For more than 40 years, Gorfaine and Schwartz have represented top composers, songwriters, music supervisors and record producers working in film, TV and video games.

Trending on Billboard

The event raised a record-breaking $1 million to benefit LACO’s artistic and educational initiatives. Highlights included a concert with LACO artists led by music director Jaime Martín.

Film composer James Newton Howard, who was honored by LACO in 2022, was the honorary chair. In addition to Williams and Howard, others in attendance included composers Glen Ballard, Sean Callery, John Debney, Harry Gregson-Williams, Corky Hale, Steve Jablonsky, Julia Newman, Thomas Newman, Mike Post, Theodore Shapiro, Alan Silvestri, Michael Skloff, Mike Stoller and Brian Tyler; and industry executives Spring Aspers, Paul Broucek, Alex Hodges, Tom MacDougall, Tracy McKnight, Alison Smith and Randy Spendlove.

Brigitta B. Troy and Alden Lawrence served as event chairs. Peggy Falcon and Anne Grausam were event committee co-chairs.

Shaheen and Anil Nanji, longtime LACO advocates, community leaders and philanthropists, received the LACO Heartstrings Award.

For information on LACO, visit LACO.org.

Music investment enterprise Firebird acquired a stake in JET Management, the Los Angeles-based company that boasts a roster including Justice, Madeon, LP Giobbi and Suki Waterhouse.
Launched in 2023 by founders Nathan Hubbard and Nat Zilkha, Firebird is a multi-sector music company that includes labels and publishing, with an emphasis on management and label services.

Trending on Billboard

In 2023, Zilkha told Billboard that he and his partners are building Firebird to respond to a changing industry in which artists are moving away from label structures to partner with companies that can provide label services and artist development, as well as help them tap into additional income streams, such as publishing, merchandising, branding and live events.

“Firebird partners with artists and their teams to build longer lasting, higher impact, and more profitable careers,” Hubbard said in a statement on the new partnership. “JET is on the cutting edge of building the brands of the most respected artists that influence culture. Tyler, John and their team have an impressive track record of partnering with artists of all types to ignite both their fan bases and businesses in harmony.” 

“The music industry is evolving rapidly, and power is continuing to shift towards artists and their teams. Firebird’s artist-first ethos and ambitions around empowering the core team is what drew us in at the start, but the people are what kept us around,” added JET Management co-founder John Scholz. “This is a great group of sharp industry veterans walking the same path as us that we couldn’t be happier to lock arms with.” 

“Firebird’s strengths complement JET’s vision seamlessly,” adds JET co-founder Tyler Goldberg. “This partnership allows us to streamline operations, broaden our reach, and ultimately deliver greater value to our clients.”

JET clients including Waterhouse, Justice, Neil Frances and Blond:ish are all slated play both weekends of Coachella later this month.

Thus far, Firebird has acquired stakes in companies including Coran Capshaw’s Red Light Management, which represents roughly 400 artists including Dave Matthews Band, Phish, Brandi Carlile and Chris Stapleton; Mick Management, which specializes in independent singer-songwriters such as Maggie Rogers and Hamilton Leithauser; Transgressive Records; and U.K.-based electronic label Defected Records.

“We are maintaining separate brands of the companies that we invest in,” Zilkha told Billboard last year. “We allow their creative process to remain very independent from us; but we’re giving those companies an ecosystem that helps them create opportunities for themselves and the artists that they work with.”

Firebird says it generates $2 billion in gross revenue annually across its businesses and with its collective of artistists reaching a global audience of more than a billion fans.

The Recording Academy has promoted Adam Roth to executive vp of global partnerships & business development. Roth will be responsible for growing the Recording Academy’s global footprint through the negotiation and development of integrated partnership programs with both globally recognized brands and local on-the-ground sponsors. Roth previously served as svp of partnerships & business development […]

Argentinian music sensation Paulo Londra has inked a deal with WME for worldwide representation, the company tells Billboard.
Since exploding onto the scene in 2019, the 25-year-old singer/rapper has been a dominant force in the Latin American music scene and is widely considered one of the pioneers of Argentina’s burgeoning trap movement.

Born Paulo Ezequiel Londra, he began his musical journey as a battle rapper in Buenos Aires’ El Quinto Escalón. Soon after, he released popular singles like “Relax” and “Condenado para el Millón” in 2017.

However, it was his 2019 debut album, Homerun, that catapulted Londra to international recognition. The album debuted and peaked at No. 12 on Billboard’s Top Latin Albums chart and at No. 10 on Latin Rhythm Albums, with its hit single, “Adan y Eva,” landing in Spotify’s Global Top 10. Its music video currently boasts over 1.2 billion views on YouTube.

In 2022, the Córdoba-born artist released his second album, Back to the Game, under Warner Music Latina. It debuted at No. 1 on the Billboard Argentina Hot 100 chart and boasts collaborations with artists such as Ed Sheeran, Travis Barker, Timbaland, Feid and Duki.

Trending on Billboard

Adding another feather to his cap, Londra performed the official Latin remix for “The World is Yours To Take,” a song off the 2022 FIFA World Cup soundtrack, alongside Lil Baby and Tears for Free.

Most recently, Londra signed with indie powerhouse label Dale Play Records — home to producer Bizarrap, rapper Duki and urban/pop act Nicki Nicole — and is currently working on new music.

Additionally, plans are underway for Londra to embark on a global tour. He continues to be managed by Ignacio Amato and Cruz Pereyra Lucena from Buena Productora.

Billboard is bringing back its peer-voted Country Power Players’ Choice Award for 2024, asking music industry members from all sectors to honor the executive they believe had the most impact across the Country music genre in the past year.  Explore Explore See latest videos, charts and news See latest videos, charts and news Voting is […]

Billboard is bringing back its peer-voted Country Power Players’ Choice Award for 2024, asking music industry members from all sectors to honor the executive they believe had the most impact across the Country music genre in the past year.  Voting is open to all Billboard Pro members, both existing and new, with one vote per […]

Every passing day, a new statistic emerges that would make any aspiring artist, producer, or songwriter feel foolish for trying to fund their dreams. 
Over 100,000 songs get ingested to Spotify daily, but the vast majority of them fail to surpass the 1,000-play mark. Sony Music Entertainment, Warner Music Group, and Universal Music Group reported record profits in 2023, but those numbers are largely driven by a small number of star artists. A 2017 study showed that out of 7,000 bands tracked, only 21 managed to headline a venue with a capacity exceeding 3,000. Limited opportunity and long odds face artists who don’t have significant industry backing. 

Content saturation makes it harder to stand out, inspiring strategic conservatism from major labels, who, driven by data, fear financial risk and tend to invest in artists who demonstrate substantial market appeal. 

Trending on Billboard

What are musicians — and, frankly, writers, visual artists, filmmakers, or any creators — in need of resources to do when corporations appear more risk-averse than ever? 

Why do we need a grant system for individual artists?

While art is often considered a luxury rather than a public good, it has been shown to provide both cultural enrichment and economic stimulus. 

In 2023, Americans for the Arts found that the nonprofit arts and culture industry provided 2.6 million jobs, generated $29.1 billion in tax revenue, and provided $101 billion in personal income to U.S. residents. These numbers include the individuals who benefit from public arts funding to become working artists, who tour, show their work at museums, and fill movie theaters. 

America’s nonprofit and for-profit arts sectors work together to promote cultural growth as much as they stimulate economic activity locally and nationally.

Public funding for the arts has remained relatively steady in absolute terms. However, inflation-adjusted spending on the arts by local governments has declined consistently throughout the 2000s. Local arts agencies now receive 27% less in funding than they did in 2001.

Other countries have shown a better system can exist. 

For 37 years, Canada’s FACTOR grant program has supported Canadian recording artists in meaningful ways. 

FACTOR covers costs that traditionally require the debt financing of a label deal: recording, music videos, and tour funding chief among them. 

Notable FACTOR recipients launched into successful careers include Jessie Reyez, Grimes, Charlotte Cardin, BADBADNOTGOOD and TOBi. Drake’s vaunted company October’s Very Own has also received a variety of grants from Canadian governmental sources — including funding for the 2014 OVO Fest.

In Sweden, robust arts education in public schools combined with an internationally-minded grant system contribute to the small nation’s outsized influence on popular music abroad, particularly in the United States where Max Martin’s Swedish pop sensibilities have dominated Billboard charts since Bill Clinton was in office. 

While in America, artists can gain access to grants through institutions like the Guggenheim Memorial Foundation or the Henry Luce Foundation, or via state institutions, there is no unified federal mechanism for arts funding akin to FACTOR or the Swedish Arts Grant Committee. The National Endowment for the Arts has an impressive grantmaking operation but does not give direct grants to individual artists.

Introducing the CREATE Art Act.

We need a better system. 

In 2024, we are working to bring the CREATE Art Act to the American public. Created by Congressman Maxwell Frost, a drummer and musician himself and the first Gen-Z person ever elected to the United States Congress, the CREATE Art Act proposes a novel grant system for individual artists of all disciplines.

CREATE grants go beyond international models in the way they target emerging artists, those creators who may not yet have the good fortune of making a living off of their art or wish to avoid potentially injurious record and publishing deals. Recipients must show net earnings of less than $50,000 in the previous five years and not more than $400,000 in the previous 20 years from their art. The art produced must be relevant to the community and accessible to the public. The grants include: 

Progress Grant – Up to $2,000 to support a year of artist activities.

Project Grant – Up to $100,000 per project that can be used over two years.

Live Performance Grant – Up to $35,000 for live performances.

Development Fund – Up to $10,000 to pay the living and working expenses of artists

while they research, write, or cultivate stories or projects.

The purpose of the program is twofold. 

First, and simply, more artists with funding means more art. The greater the creative output of our nation, the greater the diversity of voices with the potential to gain an audience, shift perspectives, inspire future generations, and tell new American stories. 

Second, more artists creating means more economic activity in a sector experiencing an algae bloom of creators and consumers.

The current media landscape cuts a more jagged figure than ever. No monoliths. No starmakers. No obvious paths to success. 

In a time of such noise and fragmentation, artists find it as hard as ever to fund their dreams and more difficult than before to cut through the clutter. 

The CREATE Art Act would plant a foot on the right path forward, opening up possibilities for generations of American artists to come.

The first member of Generation Z to be elected to Congress, Maxwell Alejandro Frost is proud to represent the people of Central Florida (FL-10) in the United States House of Representatives. As a young Member of Congress and Afro-Latino, Congressman Frost brings a fresh, progressive perspective to an institution formerly out of reach for young, working Black and Latino Americans.

Jon Tanners is a manager, writer, and entrepreneur based in Los Angeles. He manages Grammy-winning, multi-platinum producers Dahi, Michael Uzowuru, and Take A Daytrip and is also co-founder of CreateSafe.

Warner Music Group announced over the weekend that it has called off plans to submit a binding offer to acquire French music company Believe. The label did not elaborate on its decision, only that it was made “after careful consideration.” Believe followed up in a statement, saying it will “review the situation with all interested […]

GEMA’s revenue rose 8.4% in 2023, to €1.28 billion ($1.4 billion), the German collective management society (CMO) announced April 8, and for the second year in a row it will distribute more than a billion Euros to its members – €1.08 billion ($1.17 billion) to be exact. That income was offset by an expense ratio […]

Shares of Spotify jumped 17.6% to $310.31 this week on a report that the streaming giant will raise prices again in select markets as well as news that it named a new CFO, Christian Luiga, a former CFO and deputy CEO at European defense and security company Saab AB. 
Spotify’s newfound willingness to both raise prices and control costs has given new life to its stock price after an expensive entry into podcasting caused a downturn in 2022. Through Friday (April 5), shares of Spotify have increased 65.2% year to date and 134.2% over the past 12 months. Not even Believe, up 57.1% in 2024 thanks to competing interests to acquire the company, has matched Spotify’s momentum this year. Sphere Entertainment has also enjoyed a boost on Wall Street since U2’s inaugural residency at the $2.3-billion Las Vegas venue, but its 37.7% gain in 2024 also lags behind Spotify. 

For more than a decade, Spotify kept its subscription prices low and emphasized subscriber growth over profits. The market’s mood has shifted in recent years, though. Once satisfied with growth in user numbers, investors now want high-flying streaming companies to be profitable, too. Since Spotify announced a price increase on July 24, 2023, the share price has increased 89.5% and raised the company’s market capitalization by roughly $29 billion to $61.5 billion. The share price has gone up 71.7% since Spotify announced it would cut 16% of its staff on Dec. 4, 2023. 

Trending on Billboard

This week, investors reacted to a Bloomberg report that Spotify is raising subscription prices in select markets and will pass another rate hike in the United States later this year. Following the news, Spotify gained 8.2% to $291.77 on Wednesday (April 3). Labels appeared to benefit, too: Universal Music Group rose 5.5% and Warner Music Group gained 5.8% on Wednesday following news of the price increase. 

Rather than shy away from price increases in successive years, Spotify could have a unique ability to withstand higher prices compared to its peers. Morgan Stanley analysts wrote in an investor note on Thursday (April 4) that music is “broadly under-monetized” and the quality of Spotify’s product gives it “unique pricing power.” Guggenheim analysts wrote in a report on Wednesday that they believe the price increase could mean a “9% revenue impact” in the affected markets. 

What’s more, the higher prices could help Spotify by improving its audiobook business. Spotify now gives subscribers in the United States and some other markets 15 hours of free audiobook streaming per month; users can also purchase additional listening time and buy audiobooks to keep. A recent Morgan Stanley survey revealed Spotify was used by 38% of audiobook listeners, second only to veteran audiobook platform Audible despite Spotify having launched audiobooks only a few months before the survey. “Audiobooks appear to be perhaps a larger revenue opportunity than podcasting based on this survey works and long-standing consumer price points for books,” Morgan Stanley analysts wrote.  

The Billboard Global Music Index dropped 0.2% to 1,748.38 as nine of the index’s 20 stocks were winners, 10 were losers and one was unchanged. No company other than Spotify posted a double-digit increase, however, and three companies — iHeartMedia, Cumulus Media and Anghami — had double-digit declines. 

Stocks were mixed globally this week. In the United States, the Nasdaq composite dropped 0.8% to 16,248.52 and the S&P 500 fell 1.0% to 5,204.34. The United Kingdom’s FTSE 100 fell 0.5% to 7,911.16. China’s Shanghai Composite Index rose 0.9% to 3,069.30. South Korea’s KOSPI composite index lost 1.2% to 2,714.21. 

Music streaming company Anghami (NASDAQ: ANGH) was the biggest loser of the week after dropping 41.1% — it lost 44.5% on Wednesday alone — after OSN Group, a premium entertainment provider for the Middle East-North Africa region, acquired a 55.45% stake. The deal, first announced in November 2023, combines the Abu Dhabi on-demand music streaming service with a paid, on-demand video streaming platform that carries both Arabic and Turkish titles and content from Western brands such as HBO, Universal Pictures and Paramount.