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Mario Olvera Acevedo, an event promoter specializing in Regional Mexican music, has died at the hands of unknown assailants in a direct attack that occurred in the early morning hours on Saturday (April 27).
According to a statement issued by the Secretaría de Seguridad Ciudadana (or Secretariat of Public Safety) of the Government of San Pedro Cholula, Puebla, Mexico, police officers responded to the scene after receiving a report of gunshots.
Paramedics from the Municipal Civil Protection confirmed that Olvera, age 42, no longer had vital signs when he was found. They proceeded to cordon off the area while awaiting forensic experts from the State Attorney General’s Office.
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Initial investigations indicate that it was a “presumed direct attack.” According to the press release from Seguridad Ciudadana, after “a motorist hit the rear of the truck of the deceased to force him to get out and shoot him, at that moment a third person on a motorcycle arrived and both subjects fled in the direction of Periférico Ecológico, where they finally abandoned the vehicle.” The authorities are still looking for the perpetrators.
The death of Olvera shocked the world of Regional Mexican music. For more than two decades, Olvera was a promoter of events in the states of Tlaxcala and Puebla with his company, Ranch Music Sinaloa, and countless artists and managers had working relationships and friendships with him.
Over the weekend, misinformation circulating in several media outlets about Olvera’s relationship with big stars of the genre suggested he acted as their representative and was a direct part of their teams, neither of which is true.
Last Wednesday (April 23), Olvera attended a meeting in Guadalajara, Mexico, of the ADEEM (Association of Entertainment Entrepreneurs in Mexico), of which he was once a member of the board of directors.
Multiple artists took to social media to express their condolences, including Los Tucanes de Tijuana, El Flaco Elizalde and El Yaki. The latter artist said he was close to Olvera and considered him an older brother, though the two were not biologically related.
“This is how I say goodbye to you my brother! Because I know you would have liked me to share it… and I do it from my heart,” wrote El Yaki on Instagram below a photo of the two together. “You taught me some really bitchin’ things and opened my eyes to something that today little by little I’m still building […] Fly high compa!”
In Puebla, Olvera was also known for his activities in the restaurant business. At the time of his death, he owned three establishments: Humo Gris, Ostería Humo and Puerto Marisco.
On Monday (April 29), Olvera’s body will be buried at the Valle de Los Angeles Funeral Home in Puebla.
Superfans have become an very buzzy topic within the industry since last summer, when Goldman Sachs projected that this segment of fans could put more than $4 billion into the music industry by 2030.
As previously reported by Billboard, in January Warner Music Group CEO Robert Kyncl called for “stok[ing] the blue flames of superfans” and additional “direct artist-superfan products and experiences”, while Universal Music Group CEO Lucian Grainge highlighted the value of “superfan experiences and products”; and Spotify hinted at future “superfan clubs” in a blog post.”
Defined by Luminate as listeners who “engage with artists and their content in five-plus different ways” superfans were a topic of conversation at IMS Ibiza 2024, which last week brought hundreds of electronic music industry figures to the island for three days of panels and parties.
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On Friday (April 26), programming included a conversation on superfans presented by industry knowledge platform Music Ally. The talk featured Evie Thomas of Atlantic Records and Warner Music Group UK, Jack Bridges of SoundCloud, Myradh Cormican of U.K. management company Frame Artists and was moderated by Marlen Hüllbrock of Music Ally.
The conversation cited statistics from Music Ally which found that superfans spend 80% more on music each month than the average listener and that 2% of an artist’s monthly listeners on Spotify account for more than half of that artist’s monthly merchandise purchases.
Additionally, superfans are 54% more likely to be the first among their friends to discover new music and new artists, and superfans are 59% more likely to say they want to connect with an artist on a personal level. Around 15-20% of all music listeners consider themselves superfans.
These are five other takeaways from the talk.
1) Even 100 Superfans Can Successfully Launch a Campaign — If You Can Find Them
Fanbases are spread across myriad platforms, which makes it challenging for artists to understand who their fans are. This is particularly true because given that data is segmented and also often controlled by third parties, meaning that artists have no direct access to fans and must rely on different tools and platforms to figure out who their superfans are.
Music Ally’s Hüllbrock noted that it’s “incredibly important” for artists and labels to figure out how to directly speak to their own fans, “because they’re battling the algorithm if they’re just posting on their own channels.” One solution here is cutting through the content clutter by taking artist/fan conversations to more more closed and direct spaces like WhatsApp and Discord.
“It’s about how to cut through the noise in an authentic way but also a relative way so even if an artist has 10,000 fans, they’re reaching a 1,000 or even 100 to successfully launch a campaign,” added Bridges. Thomas noted that it’s key for teams to test to see what different platforms are working and where engagement is happening for each particular artist, “as it’s not one size fits all; every artist is different; every community is different.”
2) Soundcloud Has Long Been a Home For Superfans
“I think there’s also been an underestimation of how much the superfans mattered before they were being properly identified,” said Bridges, citing the 2022 hit “Afraid To Feel” by U.K. duo LF System. That song “went to No. 1 but lived on Soundcloud for nearly a year before it got picked up and signed,” he added. “When that got signed and as part of the release strategy, it came off of Soundcloud, and straightaway the artists were inundated with messages every day asking where the record had gone.”
Bridges cites this as a moment “where the labels, the artists, the artist managers really realized how important it was to not mess with certain things or go to market without certain platforms.”
He says that over the last 18 months, as the industry has sharply focused on superfans, there’s been a change in strategy that’s seen “a lot more artists and labels go to Soundcloud early… and build records from nothing and by artists messaging their fans directly, because we have the tools to do that.”
3) Strategy Is Not One Size Fits All
“You have to look at how much time you have to invest, the reward you have made for your fanbase and where your fans really messaging you and commenting and which platforms are you seeing that on,” said Thomas, adding that ones those factors are sorted, the process can be very bespoke. “Maybe for a bigger artist with bigger budget,” she continued, “you can do something like Discord where you can bring in agencies and there’s a lot of paid features.” Meanwhile for artists that want a simpler solution, “something as simple as a WhatsApp group can be amazing.”
Cormican of Frame Artists cited Scottish DJ Arielle Free as a success story in terms of using WhatsApp to connect with superfans. “It’s been an easy lift thing to do, we’ve just given it space to develop,” she said, noting that the conversation in the group is often about topics beyond music and that many fans from the group meet IRL to attend Free’s shows.
The panelists also agreed that an artist’s language and tone should be tailored based on what platform they’re using and what fan group they’re talking to. On WhatsApp, the artist will likely be more open and relaxed, whereas Instagram caption will be shorter and sharper. Overall, the key is creating different spaces for different fan types.
4) Filtering Superfans By Territory Is Effective
When data is used to separate superfans by location, artists can easily reward these people with special experiences — meet and greets, guest lists, etc. — when they come to town.
Thomas cited Atlantic Records artist Fred again..’s March tour of Australia, for which the team cross-referenced people that were in the artist’s Australian fan community and anyone who had their birthday on the day of one of the Australia shows. The team then DM’d these fans from the Fred again.. account saying that they’d been put on the guestlist +2 for their birthday.
“That’s such a unique experience,” said Thomas, “I think it really heightens the user experience of that fan.” In terms of longterm benefits, she compared it to receiving a surprise upgrade by an airline: “You’re going to want to fly with that airline again.”
5) Bring Superfans Into The Narrative
When coordinating Chase & Status‘ 2023 Boiler Room set, their management at Frame Artists told organizers they wanted a small guest list dedicated to superfans “because,” said Cormican, “we wanted to have their energy in the room.”
This guestlist offer was distributed via the U.K. duo’s Discord channel. When the recording of this set was made live, there were a few people in the crowd who knew every lyric, danced the entire time and never once looked at their phones: the superfans who’d gotten in on the Discord guestlist.
The team from Frame Artists then messaged one of these fans, Don Lemons, and had him take part in a merchandise campaign. (And offered him “free guest list for life, obviously,” said Cormican.) When Chase & Status performed at the 2024 Brit Awards, fans from the artists’ Discord were invited to be part of the performance, as the team “wanted real ravers onstage.” This group got to take part in show rehearsals and the live show, and a video clip of this performance is now Chase & Status’ highest performing piece of content ever, with 100 million views. The video includes Dom Lemons “who,” said Cormican, “is now a legend in our scene.”
Billboard Pro members have selected Universal Music Publishing Group (UMPG) president of Latin America and U.S. Latin Alexandra Lioutikoff as the first recipient of the International Power Players’ Choice Award. The peer-voted award honors the global executive who Billboard Pro members believe had the most impact across the business in the past year. Being the first to […]
Blackstone saw Concord’s most recent offer of $1.25 per share to acquire Hipgnosis Songs Fund and raised it a nickel to $1.30 on Monday, potentially putting a capper on a back-and-forth bidding war for the music rights company’s assets.
In a joint announcement, HSF and Blackstone said the board of directors of both companies approved of the revised all-cash acquisition of Hipgnosis’s assets at a value of nearly $1.6 billion, up from Concord’s most recent bid that valued the company at around $1.51 billion.
The new price reflects a 48.1% premium over HSF’s closing share price on April 17, the day before Concord’s initial offer became public. Any offer will require the support of investors representing at least 75% of the company’s public shares at a court meeting expected to be held on June 10; until that date, additional new offers may still be lodged.
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Blackstone’s official bid arrives a week after the private equity giant made what it called a “possible offer” of $1.24 per share, or roughly $1.5 billion, on April 22. HSF’s board of directors signaled that they would support that bid if it was made official, however two days later (April 24) Concord raised their bid by one penny and the board reversed and unanimously recommended shareholders approve the Concord bid.
With Blackstone upping the bid by $0.05, the board now says that “after careful consideration” the revised bid “represents a superior offer for Hipgnosis shareholders” compared to Concord — and now will recommend shareholders to access the new terms.
“The Board is pleased to unanimously recommend this [offer] for Hipgnosis from Blackstone,” said Hipgnosis chair Robert Naylor. “Since we started our strategic review, we have been clearly focused on looking at all the options to deliver shareholder value. We are delighted that, following competitive interests in acquiring Hipgnosis, our investors now have a chance to immediately realise their holding at an increased premium.”
The London-listed fund owns rights to songs by Neil Young, Journey, Lindsey Buckingham, Red Hot Chili Peppers, Shakira, Blondie and other artists.
Hipgnosis Songs Fund’s stock price fell 6.75% on the news, from $1.35 on Friday when Concord’s bid increase pushed the stock to a 52-week high to $1.26 by 9 a.m. Monday New York time.
Blackstone is also the majority owner of Hipgnosis Songs Fund’s investment adviser, Hipgnosis Song Management (HSM), and it funds Hipgnosis Songs Capital (HSC), a private music rights fund operated with HSM that has its own portfolio of music rights from such stars as Justin Bieber and Kenny Chesney.
HYBE was rocked by controversy this week after an audit of one of its subsidiary labels, ADOR, allegedly revealed that the label’s CEO, Min Hee-jin, “deliberately led the plan to take over management control of the subsidiary,” according to a statement sent by the company on Thursday (April 25).
Shares of HYBE fell 7.8% on Monday (April 22) and ended the week down 12.6% to 201,500 won ($146.22). HYBE later reported Min, who owns an 18% stake in ADOR, to the police for “breach of trust and other allegations” and asked her to step down, it said in the April 25 statement. The dispute added to HYBE’s losses at a time when most music stocks are faring well. HYBE shares have fallen 13.7% year to date and 25.4% over the last year.
HYBE was the biggest loser in a week most music companies’ stocks were up. In fact, five music companies’ stocks posted double-digit gains this week and only 7 of the 20 stocks in the Billboard Global Music Index were losers. The index gained 3.2% to 1,756.98, breaking a two-week losing streak and bringing its year-to-date increase to 14.5%.
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The week’s greatest gainer was streaming company LiveOne, which increased 14.5% to $1.90 after it provided two updates to upcoming earnings releases. On Monday, the company announced that it expects fiscal 2024 revenue of $118.5 million, up 19% from $99.5 million the previous year, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $14.4 million — about 32% above $10.9 million of EBITDA in the prior year. On Wednesday (April 24), LiveOne announced that PodcastOne expects revenue of $11.7 million in the fiscal fourth quarter 2024, up 32% year over year. LiveOne spun off PodcastOne in 2023 and retained an 81% stake.
Two of the weeks’ best-performing stocks also reached their highest levels in years. Reservoir Media improved 13.8% to $9.10, its highest closing price since the stock closed at $9.20 on May 4, 2022. Chinese music streamer Tencent Music Entertainment gained 13.5% to $12.88, its best closing price since it closed at $13.02 on July 13, 2021.
Hipgnosis Songs Fund (HSF) gained 12.9% to 1.038 pounds ($1.30) as Concord and Blackstone vie for control of the company’s share equity and 65,000-song portfolio. Notably, Friday’s closing price was 5 cents, or 4%, above Concord’s high bid of $1.25 per share, suggesting that some investors expect the bidding process to continue. As the HSF board weighs its options amidst a strategic review and building strife with its investment advisor, Hipgnosis Song Management, a sale seems inevitable. “I think investors have been through such a roller coaster most of them just want their money back,” Round Hill Music CEO Josh Gruss told Billboard this week.
Spotify’s stock closed Friday up 5.0% to $289.59 after an up-and-down week. Shares rose 11.5% on Tuesday — and posted an intraday gain of 19.2% — following the release of the company’s first-quarter earnings report but gave back nearly all the gains over the next two days by falling 6.8% and 2.3% on Wednesday and Thursday, respectively.
Tuesday’s (April 23) intraday high of $319.30 was Spotify’s highest share price in over three years. The last time Spotify traded above $319.30 was Mar. 8, 2021, when shares reached $323.04. The stock dropped below $100, to $96.67, on Apr. 27, 2022, and fell as far as $69.29 on Nov. 4, 2022. Since that low point a year and a half ago, as Spotify has cut its workforce and focused on improving margins, its share price has risen 218%.
Indexes around the world posted gains this week. In the United States, the Nasdaq was up 4.2% to 15,927.90 and the S&P 500 improved 2.7% to 5,099.96. Both indexes were helped by Alphabet, which rose 10% to $173.69 on Friday after releasing first-quarter earnings and announcing a $70 billion buyback program. In the United Kingdom, the FTSE 100 rose 3.1% to 8,139.83. South Korea’s KOSPI composite index gained 2.5% to 2,656.33. China’s Shanghai Composite Index rose 0.8% to 3,088.64.
Major artists are speaking out about the state of concert ticketing.
“The current system is broken,” reads a new letter signed by over 250 artists, including Billie Eilish, Green Day, Fall Out Boy, Cyndi Lauper, Lorde and more. The letter, dubbed “Fix The Tix,” addresses pervasive issues in the ticketing industry, like fake tickets, misleading marketing strategies and unclear pricing.
Addressed to Maria Cantwell and Ted Cruz, the respective Chair and Ranking Member of the U.S. Senate Committee on Commerce, Science, & Transportation, the letter calls on the legislators to support the Fans First Act. The Act would take a series of steps to make ticketing more transparent for consumers, including banning “deceptive marketing tactics,” which lure fans into “paying more for tickets that may never get them into a show.”
“Predatory resellers have gone unregulated while siphoning money from the live entertainment ecosystem for their sole benefit,” the letter reads. “As artists and members of the music community, we rely on touring for our livelihood, and we value music fans above all else. We are joining together to say that the current system is broken.”
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Though the letter addresses American lawmakers, ticket resale practices are not limited to the U.S., and several Canadian acts have signed in support of letter’s aims, including Blue Rodeo, The Sadies, Cowboy Junkies, Suzie Ungerleider and Alvvays’ Alec O’Hanley.
“Marking tickets up is indicative of yet another layer in a broken system,” Canadian singer-songwriter Lauren Spear, who releases music as Le Ren and signed on to the letter, tells Billboard Canada. “It’s hard enough making money with streaming services taking revenue away from artists. Markups create an invisible hand that both gatekeeps the audience and pockets money that should be going to the labour of the musicians and crew.”
The Fans First Act would require ticket sellers to display the full price of a ticket from the outset of a purchase, tackling hidden fees that often catch consumers by surprise at the end of a transaction. – Rosie Long Decter
YouTube Aims to Support Canadian Artists In the Age of AI
Like many major labels and streaming companies, YouTube has a major presence in Canada. For artists and content creators, it provides access to an audience that stretches beyond borders.
“When you think about YouTube, the beauty for all artists and Canadian artists is the global reach,” says Vivien Lewit, Global Head of Artists at YouTube, in an interview with Billboard Canada, after a recent trip to Halifax for the Juno Awards. “There are over two billion really logged in viewers that watch music videos each month on YouTube. The exposure is enormous.”
With the Online Streaming Act becoming law, digital distributors and media will soon face updated government regulation and possible new forms of Canadian Content requirements. YouTube and its parent company Google have been critical of the act ever since it was introduced as Bill C-11. But much of the company’s criticism revolved around user-created content, which has since been clarified as immune from certain forms of regulation. YouTube maintains an ongoing partnership with record labels in Canada led by Canadian Head of Music Partnerships, Gabriel Obadia.
YouTube has a number of marketing and support initiatives and programs, and Lewit says they make sure to promote Canadian artists as part of all of them. Those include features like Artist on the Rise and Fifty Deep, a grant program to support Black artists. This year, Francophone Quebec rapper Lost was a participant.
YouTube Shorts has also been a big driver of the Punjabi Wave, including the B.C.-based Karan Aujla his collaborator Ikky. Together, they made YouTube’s list of most-watched music videos in Canada in 2023, and Aujla has 1.66 billion global plays in the last year. Numbers like those are hard to ignore, and those, along with streaming tallies, proved the potential of Punjabi music well before the Canadian music industry started to support it.
“It’s fascinating because I hear about the fast-growing popularity of Punjabi music in Canada from both our teams in India and our teams in Canada,” Lewit says.
In Canada, those YouTube numbers will now be recognized by Music Canada’s Gold/Platinum Singles Program. So, as in the U.S. since 2020, an artist with high stream counts on YouTube (or other Digital Service Providers like Apple Music) could earn a gold or platinum record.
Read more here about how YouTube is working with Canadian labels on another potential thread and opportunity: generative AI. – Richard Trapunski
Last Week In Canada: AP Dhillon’s Early Exit From Coachella
It’s time for another spindle around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music.
Sony Music Germany appointed Jean-Sebastien Permal and Jenny Walzer to run noted. records, the label giant’s newly launched electronic music imprint. A&R and strategy at the Berlin-based label will be handled by Permal, whose day job is vp of A&R for Europe & Africa, while marketing and operations will be the purview of Walzer, also a senior product manager at Sony Music. The label’s first signing is DJ-producer Anfisa Letyago, whose first track on noted. — “Feelin” — was just released.
Germany is the fourth-biggest market for recorded music, growing 7% in 2023, according to IFPI’s latest global report. The country also has the most dance music listeners on Spotify, on a monthly basis, according to figures via the annual IMS Business Report. Another key finding in that tome: “The global dance music business is now firmly in its post-pandemic growth phase,” with 17% annual growth and a valuation of $11.8 billion.
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“Electronic music as a genre has never been as potent as it is today,” said Permal. “We recognized the need to provide a home for artists with a strong and unique musical and visual identity. We are thrilled to have Anfisa Letyago as our first signed artist and are incredibly ambitious about her project.“
Meanwhile…
ASM Global named veteran sustainability strategist Lindsay Arell as its first-ever chief sustainability officer. The company’s portfolio already boasts more than 50 green certified venues, and Arell’s appointment speaks to its “leadership and commitment to sustainability,” says chief executive and president Ron Bension. Arell said she will will continue to lead Honeycomb Strategies, her 14-year-old consulting firm advising sports and events industry leaders on sustainable strategies. “I’m thrilled at the chance to spearhead ASM’s sustainability initiatives working alongside our teams and communities across our over 400 global venues.” Arell said. “By providing our venue teams with the necessary knowledge and resources, we can accelerate the progress of our program significantly.”
Reservoir made a slate of key promotions at Big Life, its UK-centric artist management agency. Kat Kennedy, Colin Roberts and Claire Kilcourse were promoted to partners, with Kennedy also taking on a new role as managing director, the company said. Combined, the trio have clocked roughly 46 years at Big Life — no small fete. “They’ve all shown incredible loyalty to the company,” said Big Life co-founder Tim Parry. “The longstanding relationships they have built with their clients are testament to their dedication, thoughtfulness, and expertise as managers, and I look forward to the continuing success they will bring to the Big Life brand.”
Samantha Sklar
Position Music promoted Samantha Sklar to vp of A&R at the Virgin Music-distributed indie publisher. Sklar, who joined Position in 2022 following a fruitful tenure at Warner Chappell Music, recently found success with the signing of Jack LaFrantz, who co-wrote Benson Boone’s hit “Beautiful Things.” While at WCM the A&R exec notably signed Stephen Kirk, co-writer of BTS’ “Butter.” Position Music head of A&R Mark Chipello dubbed Sklar a “publisher through and through [who] has an incredible drive to serve writers and create opportunities for them.”
Como No‘s founder Andy Wood announced he’s stepping down as director of the U.K.-based Latin music promoter company after 40 years, with Elena Beltrami unveiled as the new director. Wood will stay on as a non-executive board member. “On a daily basis I have felt humbled by the breadth of talent from Latin America and beyond that I have had the good fortune to work with,” said Wood, who formed Como No in 1985 and founded La Linea Festival, which just wrapped its 24th edition. “It’s been a privilege to work within a culture that I love, and with artists that I love in this great city of ours, for incredible audiences and with supportive venues and partners.” –Griselda Flores
AIM and BPI appointed Roxy Erickson as project manager of its ramped-up Music Climate Pact. The pact, initiated by the two UK organizations, works to bring music businesses together to take collective action to combat the climate crisis. The pact’s signatories include BMG, Beggars Group, Ninja Tune, Partisan Records, Secretly Group and the big three majors. Erickson is co-founder of Creative Zero, a collective of like-minded professions working to “generate positive environmental and social impact throughout the creative industries,” according to its website.
ALL IN THE FAM: Pam Sturchio is Billboard‘s new regional vp of brand partnerships, effective immediately. The Chicagoan joins Billboard after more than 10 years at Conde Nast, where she oversaw Midwest sales for the media company’s sprawling portfolio of brands … We also welcomed Lilian Gonzalez as our new e-commerce writer, based in Los Angeles. She was previously an associate producer at POPSUGAR, where she focused on all things beauty and fitness (including the Dance Fitsugar video series).
Joanne Hunter and Renata Muniz launched a new media and brand strategy agency called Out of Office Group. The partners, who both served as vps of media and brand strategy at Def Jam Recordings, have hit the ground running and are already working with several breakout acts, including KenTheMan, Shanae and Genia, among others. You can reach the LA-based Hunter and the NYC-based Muniz at info@outofofficegroup.com.
Dan P Carter, longtime curator of ‘The Rock Show’ on BBC Radio 1, joined Spinefarm Music Group as director of artist development. The London-based rock n’ roll evangelist will work alongside the Spinefarm team to sign and develop artists, and is set to report directly to general manager Jonas Nachsin. Other recent Spinefarm hires include Leah Devine and Tristan Pratt as marketing managers. Spinefarm’s current roster includes Bullet For My Valentine, Atreyu, Airbourne, Killing Joke, Black Label Society and While She Sleeps, among others.
Please & Thank You, an agency specializing in VIP events & experiences, hired a couple veterans of the experiential arts. Meg Pollaro is the Eddie Meehan-founded company’s new vp of business development and partnerships, following notable roles at CAA, WME/Endeavor and Superfly. At P&TY, she’ll connect the dots between brands, consumers and artists. Jason Barrett joined as vp of strategy and development following a GM role at WMX, the creative services division of Warner Music Group. At his politely named new job, Barrett will focus his efforts on creating long-term deals for artists, managers and agents.
Kendra Whitehead
NASHVILLE NOTES: Brown Sellers Brown welcomed Kendra Whitehead as director of artist relations and day-to-day management of Joe Nichols. The veteran radio promoter previously banked 11 years with BMG, specifically with Wheelhouse Records and Red Bow Records … The Folk Alliance International named Jennifer Roe executive director of the organization after holding the post in an interim capacity. She was previously the FAI operations director.
Recording Academy veteran Jeriel Johnson is celebrating early successes following the launch of Telescope Arts & Music Group, his own artist management and consulting company. Johnson, former executive director of the Academy’s DC chapter and most recently a senior director at UMG, announced that his first signing, Bajan singer-songwriter Ayoni, signed a record deal with Def Jam Recordings earlier this month. Johnson is also co-producing the next United States Army Field Band album and, as an artist, helped write a new track on Shenseea’s forthcoming album. You can reach Johnson at jeriel@telescopearts.com.
Endeavor hired public policy executive Matt Kaplan as vp of government relations. Kaplan was most recently director of public policy at Meta, with prior experience at Instacart and Lyft. In DC, he has worked for Sen. Sherrod Brown (D-Ohio) and the Biden-Harris campaign in 2020. His appointment at Endeavor was first reported by Variety.
Greg Kastelman joined Park Avenue Artists as co-director of artist bookings, working alongside co-director Devi Reddy. Kastelman spent the last five years running his own booking agency and brings to PAA a roster that includes Brazilian singer Badi Assad and Ethio-American singer Meklit Hadero, among others. “PAA’s approach reaffirmed my confidence that artist managers and agents could be compassionate and forward thinking, affirming artists in their journey,” Kastelman notes. “I am thrilled to be working alongside Devi and the agency to tackle big challenges and embrace unique opportunities.”
BOARD SHORTS: Indie music publishers trade body IMPF elected six new members to its board at its 2024 general assembly in Dublin. They are Emily Stephenson (Downtown Music Publishing), Rosa M. Vizcaíno Gómez (Ediciones Musicales Clipper’s), Claudia Mescoli (Edizioni Curci), Tatjana Bukvić (Tin Drum Music), Cecilia Léon Rodrigo (Ediciones Joaquín Rodrigo) and Denise Andrikopoulou (D-Version Music Publishing) … The National Association of Broadcasters elected five new members to its NAB Radio Board: Mary Menna (Beasley Media), Chris Forgy (Saga Communications), Erik Hellum (Townsquare Media), Tim Swift (Bonneville) and Jerry “J” Chapman (Woof Boom Radio).
Symphonic Distribution hired BMG and UMG veteran Stephen Nightingale as vp of A&R and business development, Canada. Reporting to Symphonic’s chief creative officer, Randall Foster, Nightingale will be responsible for expanding the independent music distribution and marketing company’s roster and building up its partnerships in the region. Based in Toronto, Nightingale was most recently vp of recorded music in Canada for BMG. Earlier in his career, he was a marketing and business development exec at Universal Music Group.
ROYAL TEA: Prince Harry and Meghan, the Duke and Duchess of Sussex, have a new executive communications team in place. Charlie Gipson is director of communications and will be point of contact for all UK and European media outlets. Kyle Boulia is deputy press secretary and director of communication for US media relations and is based in Los Angeles. They replace Miranda Barbot, who has been upped to vp of programs and media operation for the D&DofS.
ICYMI:
Elliott Wilson
Gary Roden abruptly resigned as general manager of Oak View Group’s Co-op Live, the UK’s biggest arena that’s been beset with hiccups ahead of its opening … Audacy reduced its workforce by “less than 2%” … Elliott Wilson was named editorial director of UPROXX, HipHopDX and Dime magazine … Kelli Skye Fadroski joined the AEG-owned Crypto.com Arena, Peacock Theater, and L.A LIVE as Manager of Communications.
Last Week’s Turntable: ‘Tiny Desk’ Maestro Has New Job
More than 250 artists including Billie Eilish, Lorde, Fall Out Boy, Diplo, Becky G, Green Day, Sia and many more signed an open letter on Thursday (April 25) to the Senate Committee on Commerce urging Congress to pass the Fans First Act. The artists argue that the bill advocating for consumer protections against bots and more transparency in ticket sales is vital to the survival of the live music business.
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“As artists and members of the music community, we rely on touring for our livelihood, and we value music fans above all else,” the letter opens. “We are joining together to say that the current system is broken: predatory resellers and secondary platforms engage in deceptive ticketing practices to inflate ticket prices and deprive fans of the chance to see their favorite artists at a fair price. Predatory resellers have gone unregulated while siphoning money from the live entertainment ecosystem for their sole benefit.”
The letter says that these predatory sellers use illegal bots, speculative ticket listings and deceitful advertising that causes real harm to consumers. “The relationship between artist and fan, which forms the backbone of the entire music industry, is severed,” the letter warns. “No one cares more about fans than the artists. When predatory resellers scoop up face value tickets ahead of fans in order to resell at inflated prices on the secondary market, artists lose the ability to connect with their fans who cannot afford to attend.”
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The Fix the Tix letter argues that fans are lured in by deceptive URLs and ads that “disguise resale and trick consumers into playing up to 20x face value” when face value tickets are still available from the venue, as well “predatory” resellers listing tickets for shows before they go on sale — before they even have tickets in hand — which often result in fans showing up to venues without a valid ticket.
“Predatory resellers do not invest in creating a great live experience or fostering the live musicecosystem – they simply profit off of the hard work of artists, venues and the crew,” it reads. “In fact, resellers and secondary ticketing platforms often profit more from the artist’s work than the artists themselves.”
The signees advocate for the bipartisan Fans First Act — introduced in December by Senators John Cornyn, Amy Klobuchar, Marsha Blackburn, Peter Welch, Roger Wicker and Ben Ray Lujan — which would ban fake tickets and deceptive marketing tactics, as well as requiring ticket sellers to show the full, itemized price of a ticket from the moment the transaction begins, with clear penalties and enforcement to back the bill up.
“We, as artists, as music lovers, and as concert attendees ourselves, urge you to support the Fans First Act to combat predatory resellers’ deceptive ticketing practices and the secondary platforms, which also profit from these practices,” the letter concludes. “Predatory resellers should not be more profitable than the people dedicating their lives to their art.” The letter was addressed to Sen. Maria Cantwell, the chair of the Senate Commerce, Science & Transportation Committee and the panel’s ranking member, Texas’ Ted Cruz, with Senate majority leader Chuck Schumer, minority leader Mitch McConnell, Cornyn and Klobuchar cc’d as well.
Among the other signees to the letter include: Aimee Mann, Finneas, Evanescence’s Amy Lee, Nile Rodgers, OK GO, Halestorm, Becky G, Graham Nash, Goose, Pixies, Particle Kid, Ben Folds, Rickie Lee Jones, Jason Mraz, the members of Duran Duran, Bright Eyes, Julia Michaels, Cyndi Lauper, Sylvan Esso, Major Lazer, MGMT, Yes and many more.
President Joe Biden signed into law a national security bill on Wednesday that would force TikTok to be sold by its owner, ByteDance, or face a possible ban in the United States. Minutes later, TikTok CEO Shou Zi Chew responded with a video posted to the platform, declaring that “rest assured, we aren’t going anywhere.”
“Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,” Chew says in the video. “Politicians may say otherwise. But don’t get confused.”
The legislation signed by Biden gives ByteDance nine months to sell TikTok, with a possible three-month extension if a sale is in progress. It would also keep ByteDance from controlling TikTok’s algorithm, which is credited with helping the app rocket in popularity.
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In his video, Chew suggests that freedom of speech will be the company’s argument against the ban, saying that the bill becoming law is “a disappointing moment, but it does not need to be a defining one.
“It’s actually ironic because the freedom of expression on TikTok reflects the same American values that make the United States a beacon of freedom,” he continues. “TikTok gives everyday Americans a powerful way to be seen and heard.”
To that end, Chew also seeks to reassure users that the app is not going anywhere anytime soon and to rally its users to weigh in publicly on how important TikTok is to them:
“You will still be able to enjoy TikTok like you always have, in fact, if you have a story about how TikTok impacts your life, we would love for you to share it to showcase exactly what we’re fighting for,” he says.
With the legislation now law, it is only a matter of time before TikTok sues to stop it, and the countdown clock has officially started. As of writing, barring a court-issued delay, ByteDance will have until Jan. 24, 2025, to find a buyer, or risk having the app wiped away from U.S. users.
“We are confident, and we will keep fighting for your rights in the courts,” Chew says in the video. “The facts and the Constitution are on our side and we expect to prevail.”
This article was originally published by The Hollywood Reporter.
Concord and Blackstone are in a bidding war to acquire the equity of Hipgnosis Songs Fund (HSF). On Wednesday (April 24), Concord bid $1.25 per share for HSF’s share capital, beating Blackstone’s offer of $1.24 per share (1.00 GBP), or $1.5 billion, announced on Sunday (April 21). In response to Concord’s latest offer, Blackstone said on Thursday (April 25) that it was “considering its options.”
Concord had opened with a bid of 0.93 pounds ($1.14) per share, equal to $1.4 billion, on April 18.
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Some investors are betting the bidding will go well above the current offers. On Tuesday, shares of HSF rose as high as 1.03 pounds ($1.28) respectively, 3.2% above Blackstone’s offer, and closed at 1.01 GBP ($1.26), 1.6% above its bid. Nearly 78 million shares traded hands that day — about 11 times the average daily trading volume over the previous three months. Even before Concord’s second bid of 1.00 pounds ($1.25) per share was announced on Wednesday, shares of HSF peaked at 1.016 pounds ($1.27) and closed at 1.014 pounds ($1.26).
Investors who want to capitalize on an eventual acquisition will buy HSF shares up to — but not equal to — their expected deal price. If investors thought the deal would happen at $1.30, they could bid up to $1.29 per share and make a small yet quick profit. Shareholders will vote on an acquisition offer at HSF’s June 10 shareholder meeting.
The same dynamic was recently seen after Believe became the subject of takeover talks. When a consortium of investors announced a bid of 15.00 euros ($16.04) per share, investors immediately bid the share price up to 14.22 euros ($15.23) but suspected it wasn’t wasn’t the final offer. Even before Warner Music Group (WMG) announced it was interested in acquiring Believe for at least 17.00 euros ($18.18) per share, shares were trading around 15.25 euros ($16.31), nearly 2% above Believe’s offer.
Concord could have two advantages that would allow it to bid higher than Blackstone: its source of funding and its ability to administer HSF’s portfolio. “If all else is equal,” Stifel analysts wrote in a Monday (April 22) note to investors, Concord can outbid Blackstone because it has a lower cost of capital — Michigan Retirement Systems, a state pension fund — and a superior ability to “extract revenue from an under-managed portfolio.”
But Blackstone has a trump card: Hipgnosis Song Management, which is majority owned by Blackstone, has an investor advisory agreement with HSF gives it a call option to acquire HSF’s portfolio if the advisory agreement is terminated. Stifel analysts believe the call option could act as “a deterrent” to prevent further price escalation — although it didn’t prevent Concord from bidding a second time. HSM appears determined to employ the call option. In a April 22 statement, HSM said it was “confident that the [Songs Fund] has no legal grounds to terminate our relationship without being subject to HSM’s contractual rights contained in the [investment advisory agreement, or IAA].”
Investors run the risk that the bidding process for HSF won’t transpire as they anticipated. In the case of Believe, WMG never made a formal offer and eventually dropped out of consideration — which could leave investors who bought Believe shares as high as 16.58 euros ($17.73) in the red if the acquisition proceeds at the original 15-euros per share offer.