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It’s time to drop the needle on Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music.
Read on for good news and don’t forget to cast your vote for the Power 100 Players’ Choice Award, plus peruse our annual list of the industry’s savviest financial advisers, our weekly interview series spotlighting a single c-suiter and our calendar of notable industry events.
Gee Davy was officially named chief executive of the Association of Independent Music (AIM), following her interim leadership since the April departure of Silvia Montello. Joining AIM in 2017 as head of legal and business affairs and becoming chief operating officer in 2020, Gee has played a pivotal role in championing the UK’s independent music sector. As CEO, she’ll continue to advocate for the music community, focusing on issues like funding, streaming reform, and the ethical use of AI. AIM chair Ruth Barlow commended Gee’s leadership over the past eight months and underscored the importance of protecting the independence of the industry amidst creeping corporate consolidation. “True independence remains a vital counterbalance to the consolidation of power that major corporations wield,” she said. “It’s never been more important for the independent community to stand together for integrity and values that genuinely support and respect artists and rightsholders.” At AIM’s annual general meeting this week, four new board members were also elected: Junior Foster, Leah Ellis, Matt Bristow and Rachel Buswell. They replace outgoing members Alice Whittington, Clare McKinney, Jason Rackham and Sarah Cole.
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CTS Eventim named Karel Dörner as chief technology officer of the German concert promoter and ticketing company, effective New Year’s Day. A seasoned expert in digital transformation among Europes’s business community, Dörner brings experience from leading McKinsey Digital Labs in Western Europe and co-founding eBay Europe. In this newly created role, he will oversee the IT, product and information science divisions, driving digitalization, data-centered business models and the integration of generative AI. Key team members, including Christoph Bodi and James Brooke, will report to him. This appointment allows COO Alexander Ruoff, the current point-person for IT and product, to focus on international development. Dörner’s expertise aligns with CTS Eventim’s growth strategy, with CEO Klaus-Peter Schulenberg lauding his “proven expertise” and “entrepreneurial skills,” adding that “he will bring fresh impetus to the company.”
Concord announced the formation of its new advisory board of noted executives who’ll guide the music company’s strategic direction and innovation. The board includes Greg Ballard, former CEO of Glu Mobile and Warner Custom Music; Liat Ben-Zur, a digital transformation expert with experience at Microsoft and Philips; Janicza Bravo, an acclaimed writer and director; Darien Dash, a business leader in music, technology, and finance; Marc Geiger, co-creator of Lollapalooza and founder of SAVELIVE; Nick Grouf, an entrepreneur and investor known for co-founding Firefly and Pluto TV; TJ Haynes-Morgan, chief audit executive at Raymond James Financial; Scott Pascucci, former CEO of Concord and current executive chairman of Morrison Hotel Gallery; Jim Weber, CEO of Brooks Running Company; Tom Whalley, a veteran music executive and founder of Loma Vista Recordings; and Jake Wisely, a co-founder and equity partner of Concord.
BOARD SHORTS: Michelle Escoffery was elected chair of The Ivors Academy Trust, a UK charity supporting disadvantaged songwriters and composers. As the Trust approaches its 25th anniversary in 2025, Escoffery’s dedication to music creators is clear, having joined as a Trustee in 2023. With over three decades in the music industry, she is currently president of PRS for Music Members’ Council, a Trustee of the PRS Foundation, and a member of ICMP’s Industry Advisory Board … Sarah Morris, general manager of NPR‘s affiliates in Kansas City, has been elected to the public broadcaster’s board of directors.
Vanessa Brennan | Orfium
Vanessa Brennan joined Orfium as chief transformation officer, a newly created position at the Los Angeles-based music rights management tech firm. Reporting to CEO Rob Wells, she’ll align cross-functional teams for strategic growth. Brennan previously held senior roles at Slack, including director of engineering, and at Spotify, where she managed security and system monitoring. Wells praised her strategic insight and technological expertise as vital to Orfium’s growth, saying her “leadership abilities will be instrumental as we expand our global footprint and continue innovating to drive value for the entertainment industry.”
ADA, the independent music distribution and artist services division of WMG, is expanding in Southeast Asia with new operations in Indonesia and Thailand. Rasti Sryantoro, founder of Solar Sounds Jakarta and a veteran of Sony Music, will lead ADA Indonesia, while Arisa Maruekatat, with 18 years of expertise at LINE TV, TikTok and elsewhere, will head up ADA Thailand. In Indonesia, ADA has extended its partnership with DPM, connecting with 28 independent labels to amplify artists’ international profiles. Notable names like Armada and Marcell are part of this collaboration. Additionally, ADA signed an exclusive deal with Voice of Baceprot (VOB), the first Indonesian band to perform at Glastonbury, to further their global reach. These initiatives highlight ADA’s commitment to supporting independent music and strengthening its presence in Southeast Asia, fostering growth and international opportunities for regional artists.
ALL IN THE FAMILY: Michele Singer joined Penske Media as vice president and associate general counsel, overseeing legal matters for a swath of publications including Robb Report, SheMedia and the art-focused outlets Art News, Art in America and Artforum, while also supporting Fairchild alongside Nicole Brandofino. Based in New York, Singer will report to Judith Margolin, senior vp and deputy general counsel. Singer brings a wealth of media law expertise, having previously served as G to the C for JAF Communications and MRC Media, where she backed teams here at Billboard and at The Hollywood Reporter. Her skills encompass newsroom counseling, strategic partnerships, data privacy, litigation and advertising law. Before transitioning to media law, Singer spent two decades in the music industry with Sony Music, BMG and EMI Music, handling business affairs … Ex-Billboard news director Shirley Halperin is joining Maer Roshan as co-editor-in-chief of our sister publication, The Hollywood Reporter. It’s a sequel for Halperin, who previously had a seven-year tenure at THR before taking her talents to Variety and, most recently, Los Angeles Magazine.
Believe announced a new leadership structure in the Middle East and North Africa (MENA), appointing Liliana Abudalo as head of label & artist solutions and Celine Hitti as head of artist services. Both will report to regional managing director Dolly Makhoul. Based in Dubai, Abudalo brings over 16 years of experience, having worked with YouTube and other key music companies in the region. Hitti, based in Paris, will focus on empowering independent artists through marketing strategies. Previously head of editorial & marketing partnerships, she has significantly contributed to the Arab music scene and was recognized in Billboard Arabia’s 40 under 40 list. “This new leadership team represents a bold step forward in our mission to deliver unique value to our partners and clients, accompanying them at every stage of their development,” said Dolly Makhoul, Believe’s regional managing director. “Through our MENA footprint, we aim at continuing to establish Believe locally as a leading music company in line with our own vision, model and values: independence, expertise, respect, fairness and transparency.”
Belinda Dinwiddie Havron | Musicians On Call
Musicians On Call, which brings live music to hospitals, named Belinda Dinwiddie Havron as its first Chief Development Officer. Havron will lead all fundraising efforts, including support from individuals, corporate partnerships, events and grants. Over her 37-year career, Havron has raised millions for various causes, including $60 million for capital and special projects. She previously worked at the Community Foundation of Middle Tennessee, creating charitable funds and securing significant support for nonprofits. “Her incomparable reputation in Nashville and decades of experience helping charities grow and thrive will be invaluable as we build the future of our organization,” said MOC president and CEO Pete Griffin. “I know with her leadership we will see great success in expanding our programs to new communities.”
Independent distributor IDOL appointed Rayen Gonzalez as DSP editorial & partnerships manager (UK) to support its growing London roster. Gonzalez, previously with [PIAS], will report to UK general manager Roo Currier and head of DSP editorial & partnerships Paul Pétel. This appointment aligns with IDOL’s new global services deal with UK labels Full Time Hobby and Hassle Records. IDOL will manage worldwide digital distribution, marketing, and audience development for these labels, excluding Germany, Austria, and Switzerland. The team will work closely with the labels and artists to expand international audiences using advanced analytics to track playlist performance and consumption trends.
Joanna Batemits launched CLUB S’AKOÚO, an independent music supervision and consulting agency in New York. She previously led the music department at Carousel Collective, working with brands like Victoria’s Secret, Pepsi, Spotify and Calvin Klein, among others. CLUB S’AKOÚO, which deals in music supervision, copyright clearance, licensing, production and talent negotiations, looks to help client integrate music thoughtfully into media projects and create impactful campaigns. Recently, the agency secured the Spice Girls’ “Never Give Up On The Good Times” for Victoria’s Secret’s holiday campaign.
Peter Ratcliffe is the new director of content protection at UK labels trade body BPI, effective immediately. With a 32-year career in The City of London Police, where he managed the UK Police Intellectual Property Crime Unit and served as Detective Superintendent, Ratcliffe brings extensive expertise in intellectual property protection. He will lead BPI’s 16-member Content Protection Unit, working closely with BPI’s legal team to address digital and physical music piracy. Reporting to CEO Dr. Jo Twist OBE and supported by Niki Haywood, Ratcliffe’s appointment underscores BPI’s commitment to safeguarding artists’ work in the evolving music landscape. Dr. Twist highlighted Ratcliffe’s invaluable experience in IP infringement as a crucial asset “at a pivotal time in the transformation of our industry, when human artistry needs more safeguarding than ever.”
Jack Clulow, tvg hospitality‘s group operations director, is relocating from the UK to New York to join the U.S. team. Since 2017, Clulow has been instrumental in launching and managing 13 music and hospitality venues in London and Alabama, with three more projects underway in the U.S., including a new venue in Los Angeles. Founded by Mumford & Sons’ Ben Lovett, tvg hospitality venues — including the Orion in Huntsville, Ala. and Flat Iron Square in London — and are known for their high quality designs and attention to hospitality that emphasize local character.
ICYMI:
Gerardo Mejía
Pam Matthews will retire next year from her role as executive director at the International Entertainment Buyer’s Association (IEBA) … Global Citizen has made two key appointments to their executive leadership team … Gerardo Mejía of “Rico Suave” fame got a promotion at UnitedMasters … Kevin Lipson was elevated to chief revenue officer at Republic … and Sony Music Nashville named Taylor Lindsey as chairman and CEO. [KEEP READING]
Last Week’s Turntable: Universal Hires Warner Veteran to Lead EMI Japan
Michael “Mike” Bryan Martinovich, a music industry veteran best known for his work at CBS Records/Sony Music in Nashville and later as a consultant, died Monday (Nov. 18) in Nashville at age 81.
Martinovich joined CBS/Sony in 1969 as a sales representative for its St. Louis branch. He later became promotion manager for Epic Records in that same market before relocating to Atlanta to work as a sales manager and, later, Cincinnati to serve as a branch manager. He was later promoted to vp of merchandising and spent the next decade at CBS Records’ New York headquarters, working with artists including Bruce Springsteen, Michael Jackson, Pink Floyd, Journey and James Taylor. He subsequently took on the role of vp of marketing when he relocated to CBS Records Nashville in December 1988. In that role, he directed marketing strategy for artists including Tammy Wynette, George Jones, Merle Haggard, Dolly Parton, Willie Nelson, Mary Chapin Carpenter, Rosanne Cash, Charlie Daniels, Joe Diffie and Rodney Crowell.
In 1994, Martinovich joined with Garth Brooks’ marketing leader Joe Mansfield to form Mansfield-Martinovich Associates. While working as strategic consultants to Wal-Mart’s music merchandiser Anderson Merchandisers, the duo created Wal-Mart’s Country Music Across America’s Parking Lot Tour, which highlighted more than 50 rising country artists in 60 markets over three touring seasons.
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In 2003, Martinovich and a trio of partners launched The Consortium, which offered strategic consulting for Broken Bow Records (BBR) and oversaw branding and licensing for The Weather Channel.
A 1992 graduate of Leadership Music, Martinovich served on the organization’s board of directors. He also served as vp at large on the ACM board of directors, on the marketing committee of the Recording Industry Association of America and filled the role of chairman of CMA’s marketing development committee. He was also a member of the Recording Academy.
Martinovich’s sons followed him into the music industry, with Bo Martinovich becoming an executive at Sony Music Nashville and Michael Dimitry Martinovich working in artist management with bands including My Morning Jacket and Good Charlotte.
Visitation and viewing will take place on Friday (Nov. 22) from 3:30-6:00 p.m. at Eastland Funeral Home, located at 904 Gallatin Avenue in Nashville. A funeral service will be held Saturday (Nov. 23) at 12 p.m. at Svetka Petka Serbian Orthodox Church, located at 1712 5th Avenue North in Nashville. Contributions may be made in Michael’s name to Svetka Petka Serbian Orthodox Church.
Warner Music Group reported on Thursday that total revenue for its fiscal year rose 6% compared to a year-ago on strong digital and streaming subscription revenue. The company reported $6.43 billion in total revenue for the twelve months ending on Sept. 30, up 6% from the roughly $6 billion the company generated in the 12-months […]
The Artist Rights Symposium returns for a fourth year on Wednesday (Nov. 20) at a new location — American University’s Kogood School of Business. This year the day-long event will feature panels like “The Trouble with Tickets,” “Overview of Current Issues in Artificial Intelligence Litigation,” and “Name, Image and Likeness Rights in the Age of AI.” Plus, the symposium will feature a keynote with Digital Media Association (DiMA) president and CEO Graham Davies.
Founded by University of Georgia professor, musician and activist Dr. David C. Lowery, the event has been held at the university in Athens, Georgia for the last three years. Now that the event has moved to Washington, D.C., the Artist Rights Symposium can take advantage of the wealth of music professionals in the city. This includes D.C.-based panelists like Davies, Stephen Parker (executive director, National Independent Venue Association), Ken Doroshow (Chief Legal Officer, Recording Industry Association of America), Jalyce E. Mangum (attorney-advisor, U.S. Copyright Office), Jen Jacobsen (executive director, Artist Rights Alliance), Jeffrey Bennett (general counsel, SAG-AFTRA) and more.
The Artist Rights Symposium is supported by the Artist Rights Institute.
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See the schedule of events below:
9:15-10:15 – THE TROUBLE WITH TICKETS: The Challenges of Ticket Resellers and Legislative SolutionsKevin Erickson, Director, Future of Music Coalition, Washington DCDr. David C. Lowery, Co-founder of Cracker and Camper Van Beethoven, University of Georgia Terry College of Business, Athens, GeorgiaStephen Parker, Executive Director, National Independent Venue Association, Washington DCMala Sharma, President, Georgia Music Partners, Atlanta, GeorgiaModerator: Christian L. Castle, Esq., Director, Artist Rights Institute, Austin, Texas
10:15-10:30: NIVA Speculative Ticketing Project Presentation by Kogod students
10:45-11:00: OVERVIEW OF CURRENT ISSUES IN ARTIFICIAL INTELLIGENCE LITIGATIONKevin Madigan, Vice President, Legal Policy and Copyright Counsel, Copyright Alliance
11:00-12 pm: SHOW ME THE CREATOR – Transparency Requirements for AI TechnologyDanielle Coffey, President & CEO, News Media Alliance, Arlington, VirginiaDahvi Cohen, Legislative Assistant, U.S. Congressman Adam Schiff, Washington DCKen Doroshow, Chief Legal Officer, Recording Industry Association of America, Washington DCModerator: Linda Bloss-Baum, Director of the Kogod School of Business’s Business & Entertainment Program
12:30-1:30: KEYNOTEGraham Davies, President and CEO of the Digital Media Association, Washington DC.
1:45-2:45: CHICKEN AND EGG SANDWICH: Bad Song Metadata, Unmatched Funds, KYC and What You Can Do About ItRichard James Burgess, MBE, President & CEO, American Association of Independent Music, New YorkHelienne Lindvall, President, European Composer & Songwriter Alliance, London, EnglandAbby North, President, North Music Group, Los AngelesAnjula Singh, Chief Financial Officer and Chief Operating Officer, SoundExchange, Washington DCModerator: Christian L. Castle, Esq, Director, Artist Rights Institute, Austin, Texas
3:15-3:30: OVERVIEW OF INTERNATIONAL ARTIFICIAL INTELLIGENCE LEGISLATIONGeorge York, Senior Vice President International Policy from RIAA.
3:30-4:30: NAME, IMAGE AND LIKENESS RIGHTS IN THE AGE OF AI: Current initiatives to protect creator rights and attributionJeffrey Bennett, General Counsel, SAG-AFTRA, Washington, DCJen Jacobsen, Executive Director, Artist Rights Alliance, Washington DCJalyce E. Mangum, Attorney-Advisor, U.S. Copyright Office, Washington DCModerator: John Simson, Program Director Emeritus, Business & Entertainment, Kogod School of Business, American University
Deadmau5 has signed with CAA for representation in all areas.
The Canadian electronic music producer will work closely with CAA on his future endeavors, including global touring, gaming and tech-focused efforts, among other opportunities.
“Deadmau5 has redefined the intersection of music, art, and technology, and we’re thrilled to be a part of his next chapter,” Deadmau5’s agent at CAA, Ferry Rais-Shaghagh, tells Billboard.
Given Deadmau5’s many projects across music, tech, art and beyond, his move to CAA was a function of the agency’s ability to offer opportunities with its other divisions in addition to live touring. The artist was previously represented by UTA, who he signed with in 2020.
Deadmau5 has a long list of accomplishments going back two decades. His debut album was released in 2005, and in 2011, he became the first electronic artist to play the mainstage at Lollapalooza. He’s since played major festivals including Coachella, Tomorrowland, Electric Daisy Carnival, Ultra Music Festival, Outside Lands, Creamfields UK, and Bonnaroo. In 2022, his set as Kx5 with Kaskade set a record for the biggest ticketed global headliner dance event of 2022, according to Billboard Boxscore.
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His catalog has 1.7 billion on-demand official U.S. streams where Deadmau5 billed as the primary artist, according to Luminate. Hits including “Ghosts ‘n’ Stuff,” “Strobe” and the Kaskade collaboration “I Remember” helped introduce electronic music to mainstream audiences, with his music and live performances also infusing boundary pushing technology. His 2019/20 U.S. cubev3 tour, featuring production of his own design and implementation, ranked in the Top 10 of Pollstar’s top tours globally.
Meanwhile, his label, Mau5trap, has released music since 2007.
The artist, whose real name is Joel Zimmerman, is managed by Dean Wilson at Circuit Group/Seven20. His team also includes attorney is Dina LaPolt from LaPolt Law, P.C. and publicist Alexandra Greenberg at Falcon Publicity PR.
LONDON — The United Kingdom’s music industry is at a “tipping point” due to increasing competition from other international markets and the threat posed by unregulated generative Artificial Intelligence (AI), the head of umbrella organization UK Music has warned.
In 2023, the music industry contributed £7.6 billion ($9.6 billion) to the country’s economy, up 13% from the previous year, according to the organization’s annual This Is Music study, which measures the economic impact of the U.K. music industry across all income streams including live, record sales, publishing, merch, brand endorsements and public performance revenue for UK based music creators and rights holders.
Huge grossing U.K. tours by Beyonce, Burna Boy and Harry Styles helped drive the record economic contribution, said UK Music, which bases its calculations upon the gross value estimates of money generated through music sales, concerts, recording studios, touring and music tourism — roughly equivalent to pre-tax profits and salaries.
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However, despite strong appetite for British artists and songs, the country’s music market is facing several significant challenges that threaten its continued prosperity, says UK Music. It identifies increasing competition from other international markets, tough financial conditions for grassroots artists and music venues, as well as the potential risks posed by generative AI on music creation as the biggest dangers to the sector.
According to export figures released earlier this year by U.K. labels trade body BPI, artists from the United Kingdom now cumulatively account for less than 10% of global music streams, compared to 17% in 2015. BPI says the U.K.’s declining share of the global music market is partially down to it facing tougher competition from fast-growing international markets such as Latin America and countries like South Korea.
The U.K.’s grassroots live sector is also battling a number of well-documented financial hardships with around 125 small capacity music venues closing in 2023 and more 350 currently at risk of closure, according to the Music Venue Trust (MVT) charity. Additionally, this year has seen 60 U.K. music festivals either postpone, cancel or close due to rising costs, slow ticket sales and poor weather, says the Association of Independent Festivals (AIF).
“We are now at a tipping point, and if the problems we face are not addressed then future growth cannot be guaranteed,” said UK Music chief executive Tom Kiehl in a statement on Wednesday (Nov. 20).
Kiehl said that without tougher regulation “the wild west” of generative AI could further undermine the U.K.’s long-held status as the world’s second biggest exporter of music behind the United States. Kiehl is calling for the British government to press ahead with implementing laws that protect artists and rights holders from AI developers using copyright protected works to train their systems without permission.
UK Music also wants to see ministers establish a legislative framework that will require tech companies to clearly identify AI created music and keep records of works that have they have ingested, akin to what the European Union introduce earlier this year in its AI Act.
Other areas where UK Music said urgent action was needed to maintain the market’s growth in the face of heightened international competition was in music education and the live industry. The organization is urging the Labour government to press ahead with its previously proposed cap on secondary ticket resale prices, as well as secure a cultural touring agreement with the EU that will allow visa-free touring for musicians and crew.
In a statement, U.K. Culture Secretary Lisa Nandy called the country’s music industry “a real British success story” that is “vitally important” to driving overall economic growth. Nandy said she was committed to ensuring that the government works with the music industry to build upon its current success for years to come.
“By supporting vital grassroots venues, introducing new secondary ticketing protections for fans and ensuring all children can access high quality music education in schools, we can help the sector go from strength to strength in the future,” said Nandy.
According to figures released earlier this year by U.K. labels trade body BPI, global superstars like Styles, Adele and Ed Sheeran helped British music exports climb to a record high of £775 million ($974 million) in 2023 based upon estimated label trade revenue — the highest annual total since BPI began analyzing labels’ overseas income in 2000.
UK’s Music’s This Is Music study uses a different methodology to report on export revenues, which it says climbed to a record high of £4.6 billion ($5.8 billion) in 2023, up 15% year-on-year. That export figure is based upon gross income generated overseas by British music companies and creators, including recorded music, publishing, brand endorsements, merchandise sales, international touring by homegrown artists and foreign visitors attending U.K. gigs and festivals (so-called music tourism).
The total number of people employed in the U.K. music industry grew 3% year-on-year to a record 216,000 full-time equivalent posts, reports UK Music.
On Wednesday, Jan. 29, 2025, four days before the 67th annual Grammy Awards, the Recording Academy Producers & Engineers (P&E) Wing will honor producer, engineer and mixer Jimmy Douglass at its annual Grammy Week Celebration. The event will take place at The Preserve LA in East Hollywood.
“Our P&E Wing proudly celebrates Grammy Week each year with a special evening that unites producers, engineers and artistic professionals to honor a truly deserving creator,” Harvey Mason jr., CEO of the Recording Academy, said in a statement. “This year, we’re thrilled to pay tribute to the extraordinary Jimmy Douglass, who has led groundbreaking creative and technical efforts in the recording industry, encouraging artists to transcend genre boundaries and contributing to iconic musical projects that will resonate for generations.”
“Throughout his illustrious career spanning more than four decades, Jimmy’s visionary approach to producing, engineering and mixing has shaped some of music’s most iconic recordings,” said Maureen Droney, vp of the P&E Wing. “Jimmy consistently pushes the boundaries of sound by bringing unconventional techniques into the studio while inspiring countless artists along the way.”
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Douglass (also known as The Senator) is a five-time Grammy winner for his work on Justin Timberlake’s “SexyBack” (best dance recording, 2007); Timberlake’s “Love Stoned/I Think She Knows” (best dance recording, 2008); John Legend & The Roots’ Wake Up! (best R&B album, 2011), CeCe Winans’ Let Them Fall in Love (best gospel album, 2018) and Andra Day’s The United States vs. Billie Holiday (best compilation soundtrack for visual media, 2022).
Douglass has also received five album of the year nominations for his work on Missy Elliott’s Under Construction, Timberlake’s Justified and FutureSex/LoveSounds, Pharrell Williams’ Girl, and Jay-Z’s 4:44. He has additionally notched two record of the year nods for Timberlake’s “What Goes Around…Comes Around” and Jay-Z’s “The Story of O.J.”
In addition to paying tribute to Douglass, the event will celebrate the year-round work of the Producers & Engineers Wing and its members.
Grammy Week culminates with the 67th Annual Grammy Awards at Los Angeles’ Crypto.com Arena on Sunday, Feb. 2, 2025, broadcasting live on CBS and streaming live and on-demand on Paramount+ from 8-11:30 p.m. ET/5-8:30 p.m. PT. Prior to the telecast, the Grammy Awards Premiere Ceremony will be held at the Peacock Theater at 12:30 p.m. PT/3:30 p.m. ET and be streamed live on live.Grammy.com and the Recording Academy’s YouTube channel.
Global Citizen has made two key appointments to their executive leadership team, the company tells Billboard. Katie Hill, senior vp of music, entertainment and artist relations, has been promoted to chief music and entertainment officer, while lfeoma Chuks-Adizue has been hired as Global Citizen’s first-ever MD in Africa.
Hill has been at the company since 2014, leading the music, entertainment and artist relations team in securing renowned acts for Global Citizen’s festivals and campaigns to support the international education and advocacy organization’s mission to end extreme poverty. She’s worked closely with Beyoncé, Rihanna, Kendrick Lamar, Billie Eilish, Finneas, Coldplay, BTS‘ Jung Kook, BLACKPINK‘s LISA and many more artists, as well as their management teams, to ensure Global Citizen’s mission is clear and accessible. She also developed the company’s Ambassadors and Advocates for Change program, which has built long-term partnerships with Usher, Hugh Jackman and Priyanka Chopra Jonas.
“I’m thrilled to be joining Global Citizen’s executive leadership team as Chief Music and Entertainment Officer. It’s been an honor to help build such an important movement, which truly leverages the power of music and entertainment to create positive change in the world,” Hill tells Billboard in a statement. “When I reflect on the impact that has been achieved over my last 10 years at Global Citizen, I am inspired by the passion and dedication of so many incredible artists and partners across the industry that have joined us in the fight to end extreme poverty. I can’t wait to build on this collaborative impact.”
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Chuks-Adizue will spearhead Global Citizen’s activities in Africa, implementing its strategy across the continent including the next installment of Move Afrika: A Global Citizen Experience. In November 23, Lamar and his company, pgLang, teamed up with Global Citizen to create Move Afrika, a first-of-its-kind touring circuit across Africa that aims at driving economic investment, creating jobs and supporting entrepreneurship opportunities in each host country. Lamar headlined Move Afrika: Rwanda in Kigali last December, with pgLang set to serve as the curator of Move Afrika until 2028. According to a press release, that event employed more than 1,000 Rwandans and engaged 75% local crew and production staff, with a specific focus on creating opportunities for skill development and international skill training. Ghana joined Rwanda as a host country for Move Afrika earlier this year.
In her new role, Chuks-Adizue will oversee key partnerships that span business development, marketing, broadcast and event production, as well as Global Citizen’s Africa-based teams and operations. Based out of Global Citizen’s office in Lagos, Nigeria, Chuks-Adizue will also work closely with the company’s executive leadership in New York, playing an instrumental role in building relationships with private sector partners and within the philanthropic community.
“I’m honored to be joining the Global Citizen team in this newly created position to drive efforts and impact across Africa. Powered by everyday advocates, campaigns and events that span the world, Global Citizen’s efforts are critical to ending extreme poverty, and I’m humbled to bring my experience and leadership to this vital work,” says Chuks-Adizue. “I look forward to working with many fantastic partners to continue the momentum and growth of Move Afrika, the pioneering music touring circuit, and drive economic investment, job creation and entrepreneurship opportunities across the continent.”
Prior to joining Global Citizen, Chuks-Adizue served as executive director commercial at Chemical and Allied Products PLC (CAP PLC), a prominent paints manufacturer and distributor in Nigeria, and held key leadership roles at Procter & Gamble Nigeria and Cadbury Nigeria.
“Ifeoma’s extensive leadership experience, together with her passion for advocating for women and girls across Africa, perfectly aligns with Global Citizen’s mission,” adds Global Citizen president Liza Henshaw. “Her vast networks of relationships across various sectors will be instrumental in advancing our work across the African continent for years to come.”
HarbourView Equity Partners has acquired the master royalty income of renowned jazz guitarist, singer-songwriter and 10-time Grammy Award winner George Benson. Terms of the transaction were not disclosed. In the press release announcing the transaction, HarbourView Equity Partners founder and CEO Sherrese Clarke Soares said, “We maintain a commitment to be a canon for legendary culture […]
Sound Royalties has been a resource for the music industry for 10 years, advancing money to artists, songwriters, producers and other entities against their royalty income streams. And if there is one message that the company consistently emphasizes, it’s that Sound Royalties doesn’t use clients’ music rights as collateral, so it can never secure ownership of those rights.
In Sound Royalties’ parlance, instead of loans, the company primarily provides advances, and recipients of those funds are collectively referred to as “creatives.”
Sound Royalties also makes clear that it doesn’t charge interest; instead, advances come with fixed fees expressed in dollars. The company also doesn’t charge late fees, and a client’s credit rating doesn’t factor into any deals because the advance is repaid from one or more of a client’s income streams.
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Contrary to standard music industry practice, Sound Royalties doesn’t require 100% recoupment from the income streams until the advance is fully paid off.
Depending on the deal, the company may only take some of the royalties of an assigned income stream from one of the creative’s music companies — labels, distributors, publishers or collection rights organizations, which are collectively known as “payors,” according to Sound Royalties — and it will pass through the remainder of income to the client.
Since 2021, Sound Royalties has been owned by GoDigital Media Group and the investment firm MEP Capital.
Alex Heiche, with a background in software for high tech and in special finance firms, founded the company in 2014. As he explains, Sound Royalties is not “a label, publisher or distributor. We don’t replace them; we work in concert with them.
“So when creatives come to us, we provide the financing, but they stay with these excellent companies that they’ve chosen to work with,” he says. “And we’re not taking a percentage of future income. The advance is a fixed dollar amount for a fixed period of time. We’re obsessed with transparency.”
Company executives also emphasize their pursuit of a relationship-based business.
“Part of Alex’s original vision is we really try hard to create relationships,” says Sound Royalties president Michael Bizenov, who joined the company in 2018 after a career in consumer banking and mortgages. “We’re not here just to do transactions. They are important to us, yes, because it’s a way to grow a business. But we want to do it in a very healthy way.”
That’s also why in times of industry turmoil, like during the pandemic, Sound Royalties set up funding pools for cost-free advances to creatives in need.
Also, the company believes in helping creatives beyond financing deals.
“We [meet] with all levels of creative people, including those who may be starting their career,” Bizenov says. “So we’re very committed to doing financial-literacy seminars. We also are talking to the most sophisticated creatives and their business teams and helping them meet their financial goals.”
Clients of Sound Royalties include (clockwise from top left) Tank, DJ Khaled, Rich Robinson, Alejandra Guzmán, Brent Faiyaz, Sonia Leigh and Dylan LeBlanc.
Illustration by Andrei Cojocaru
In the beginning, how did industry companies react to the advances you were proposing?
Alex Heiche: Sound Royalties was launched with the vision to provide artist-friendly funding using creative-friendly funding solutions. So initially, we did advances from [income streams from performing rights organizations] ASCAP and BMI, and then we slowly evolved from there, adding SESAC, and then we started adding publisher, label and distributor transactions. In 2018, we did our first international transaction with PRS [for Music].
Michael Bizenov: Today, we’ve expanded to working in 18 countries and on three continents with over 160 payors around the globe that are sending payments to us to service their clients, and we’re onboarding new [payors] every month.
Did music companies first see you as adversarial to their relationships with their artists and songwriters?
Heiche: Payors see that we’re not taking their clients. We’re not getting in the way of their business. We don’t do distribution, nor publishing; we’re not a label or a collection society. We stay in our lane, providing financing. We’re there to facilitate something and ease the process, so we have good relationships on the payor side and on the creative side.
What’s the source of your funding?
Bizenov: We have bank lines [of credit]. Since early last year, we have more than doubled our access to bank financing. We also self-fund some things out of our profits. And we have access to two additional lines of private capital if we need it.
Did you have bank lines when you started out?
Heiche: No, it started off with funding [from] the balance sheet and growing from there. We pioneered this type of financing and advances. So it took time to build a track record to be able to walk banks through it.
What kind of income streams do you like to focus on when making advances?
Heiche: Creatives are earning a lot of different income streams, and we work with most of them. As the industry continues to evolve, we expanded beyond sound recording and composition [income] and started doing YouTube [income] financing for advances.
We are now even in entertainment production financing. We do tour financing. We even offer bridge financing for creatives looking for a very short-term solution as they’re maybe selling a catalog.
Do you put together custom deals for each client or offer a menu with options?
Heiche: The beauty of our model is it’s a bespoke, white glove customer service. Every creative and every company entity that comes to us for financing gets to speak with a live person that understands what their needs are and develops options for them to review.
You don’t require documentation like tax returns or W2 forms with an application. How else are your advances different from a bank loan?
Heiche: The advance is based strictly on their royalties and projections of those royalties. We provide a one-page summary sheet so they can see the fixed cost in a fixed dollar amount for a fixed period of time. If it takes longer, there are no late fees or penalties. The same if payment comes in sooner.
What are the minimum income streams and maximum advances that you work with?
Heiche: We try to help as much of the industry as we can, and that’s why the bar is as low as it is. Right now, the baseline for both is $5,000 per year per royalty stream. But we go over $10 million for advances.
You’ve said that building relationships is an important part of the Sound Royalties business plan. How does that help grow your business?
Bizenov: A big part of our business comes from referrals, and that’s something that we work hard on. “Customer service” is a mantra in our company because it’s the right thing to do and it also grows the business.
We love the referrals that we get from the managers, business managers, attorneys and companies that are out there. It’s very flattering to us and very reinforcing.
In making advances, how do you calculate risk?
Bizenov: There are probably about 12 or 14 inputs that go into our [analysis]. It’s the things that you would imagine: What is the depth of the catalog? Is 85% of the income coming from two songs — [which] is pretty risky — or is it something that’s more spread out? Is [a work] evergreen and out there for a lot of years so you can trace the performance, or is it something that’s relatively fresh? Based on that, we then come up with a risk analysis and a price.
Does your recoupment come from all streams, or do you choose to be paid back from one or two streams? And do you take 100% recoupment or only a portion?
Heiche: We can focus on specific streams that make the most sense and help a client achieve what they’re trying to accomplish [in terms of cash flow]. Does the client want to pay us back in one year or five years? If it’s five years, for example, we may take less of their income stream per year, or it’s one year we may take more. Either way, the rest [of the income] we pass through to the creative.
What is the average type of advance deal in terms of timeline and recoupment?
Bizenov: We’d rather see somebody do [deals] more conservatively and make sure they get a chance to get their cash flow. That is why we have a very high return rate of customers who come back to us for more than one deal.
As for deal terms, the average is three to five years. We can go longer and we can go shorter, but that’s where the median would lie.
What is the value of advances that Sound Royalties made last year?
Heiche: As a private company, there are some limitations on some data that we can give out.
Can you talk about growth?
Bizenov: Our monthly volume is growing by 50%. We’re pretty proud of our level of growth.
You have also alerted artists and the industry about royalties that weren’t paid to them. How does that play into your business model?
Heiche: When a creative comes through our door, our royalty specialists say, “OK, so you’re a songwriter. Who do you collect your writer’s share from? Who does your publishing or administration?” We just start to have that conversation.
And quite often we find that creatives aren’t collecting on all the income streams that they should be, so then we point them in the right direction. We’re constantly working with creatives ensuring that they understand the various income streams that they’re entitled to receive.
Bizenov: There are nuances. It’s fractionalized, for lack of a better term, because the incomes come from all different directions. So it’s easy for things to fall through the cracks sometimes.
You have said that providing clients with transparency is very important. How else do you show this?
Bizenov: The day before the funding is scheduled to take place, we have a separate department that gets on the phone with the end user and walks through the mechanics of the deal. That team is trained so that if they sense hesitation or lack of understanding, they stop the process to make sure that the creative understands every aspect of how it works, what’s coming, what’s owed.
Our biggest nightmare isn’t not getting a deal; it’s somebody out there saying, “Hey, [Sound Royalties] didn’t tell me everything.”
Are you saying your reputation is more important than doing deals?
Heiche: We’ve developed a reputation through the years of being the good guys, and that’s from things like this independent compliance department having a call with the creative walking through everything to ensure that there’s transparency. If people have great things to say about us, that’s because of our transparency.
This story appears in the Nov. 16, 2024, issue of Billboard.