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HarbourView Equity Partners continues to scoop up R&B/hip-hop music assets with its latest acquisition of certain publishing and recorded music assets from singer, songwriter and record producer Jeremih. Terms of the deal were not disclosed. Explore Explore See latest videos, charts and news See latest videos, charts and news Jeremih’s Hot 100 hits include “Birthday […]
Hipgnosis Song Fund’s board of directors wants a workaround to the call option that gives the investment advisor, the Merck Mercuriadis-led Hipgnosis Song Management, the ability to purchase the company’s music catalogs if its contract is ended. After consulting with shareholders who own more than 60% of outstanding shares, Hipgnosis Songs Fund’s board of directors […]
The first-ever North American music industry climate summit is growing.
The inaugural Music Sustainability Summit has announced that due to high demand, it’s moving the event from the USC campus to the 2,300-capacity The Novo in downtown Los Angeles.
Set to take place on Feb. 4, the summit will feature a day’s worth of discussions on how the music industry is addressing, adapting to and finding solutions for the climate crisis.
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In addition to the summit’s previously announced programming, the event has added a conversation with promoters and venues including Lindsay Arell, the chief sustainability officer of ASM Global; Lucy August-Perna, the head of global sustainability at Live Nation Entertainment; Erik Distler, the vp of sustainability at AEG; and Kristen Fulmer, the head of sustainability at Oak View Group and GOAL. The discussion will focus on challenges, bright spots and visions for the future.
Additionally, the summit has added a conversation between representatives from several major labels, including Olga LaBelle, the vp/head of ESG at Warner Music Group. Representatives from two other labels will be announced in the coming weeks.
Newly added speakers include Jonathan Foley, the executive director of Project Drawdown; Cassie Lee, the CEO of Sound Future; Adam Met of the band AJR, who also serves as the executive director of Planet Reimagined and a professor at Columbia University; artist Beattie Wolfe; artist AY Young; Jett Glozier, the global head of infrastructure at Sound Diplomacy; Jon Ozaksut, the digital director at the Yale Program on Climate Change Communication; and Rita Kampalath, the chief sustainability offer of L.A. County.
Tickets for the summit are on sale now and available on a sliding scale. The doors open at 8:30 a.m., with programming beginning promptly at 9 a.m. and running until 5:30 p.m.
The event is being organized by the Music Sustainability Alliance, which provides science-based solutions, business case analyses, best practices and tools for operational change across the music industry. The Alliance reports that a diverse group of attendees has already registered for the event, including big names in climate science and sustainability, along with music industry professionals from venues, promoters, agencies, production companies, artist management companies and more.
“Every job is a climate job,” the Music Sustainability Alliance’s Amy Morrison tells Billboard.
Billboard is the official media partner of the Music Sustainability Summit.
Korn guitarist Brian “Head” Welch has invested in Atlantic Behavioral Health, a new mental health treatment center serving Massachusetts and New Hampshire. The center focuses on anxiety, depression and other mental health disorders, combining individual therapy, group therapy and medication management. “Partnering with Atlantic is so personal to me and not just another business to invest in,” said Welch in a statement. “I know what it feels like to live at the bottom of a dark pit, but I also know if you put in the work, the light will come back on, and Atlantic is going to help so many people find that light switch.”
Tune.FM, a Web3 decentralized music streaming platform with an integrated music NFT marketplace, received $20 million in funding from investment group LDA Capital. Tune.FM allows artists to monetize their fanbases through streaming royalty micropayments and digital music collectibles with exclusive unlockable experiences powered by the JAM token ($JAM) using Hedera Hashgraph distributed ledger technology. Tune.FM will use the funds to grow its user base, expand its development team, launch new products and increase liquidity for the JAM token internationally.
iHeartMedia has formed a strategic collaboration with Zigazoo Kids, which encompasses social networks Zigazoo (for children 13 and up) and Zigazoo Kids (for children under 13). Under the deal, the companies will explore opportunities between iHeartMedia’s portfolio of music and podcasts and Zigazoo’s content. iHeartMedia will additionally launch a national, multi-million-dollar campaign across its multiplatform audio network to stoke further awareness of Zigazoo’s social networks.
Independent radio promotions firms Your Army and Strange Loop Promo have merged. Under the deal, both companies will now operate under the Your Army banner out of offices in L.A., New York and Vancouver, Canada.
The U.K. office of Believe has signed a long-term label solutions partnership with Mahogany, the global multi-platform music brand behind the Mahogany Sessions YouTube channel. Under the agreement, Mahogany will handle global distribution for Mahogany’s label, Mahogany Records, along with its video platforms Mahogany Sessions, COVERS and Lagoon. Mahogany will additionally work with Believe’s audience development team to develop the global reach of its imprints across established and developing markets and expand their content into new territories, genres and audio-visual formats. Forthcoming plans include the public launch of Mahogany’s bespoke digital distribution service, Mahogany Songs.
Sony Music Masterworks has formed a strategic venture with London-based live entertainment company Roast Productions. Operating internationally, Roast Productions produces theater, concerts and family entertainment events. Founders Bonnie Royal and Michael Stevens will continue leading Roast’s day-to-day operations while partnering with Masterworks on developing a range of new productions. They will work closely with Masterworks president Mark Cavell and Ollie Rosenblatt, founder/CEO of U.K.-based producer/promoter Senbla.
Comedy festival SF Sketchfest has partnered with livestreaming platform Veeps to stream five of its featured shows exclusively on the platform between Jan. 21 and Feb. 4. The shows to be livestreamed are: Triumph the Insult Comic Dog’s Let’s Make A Poop!, Kids in the Hall: Scenes They Wouldn’t Let Us Do, Varietopia with Paul F. Tompkins, Hello From Magic Tavern and The Trav-enture Zone: A Night of Dungeons & Dragons & Also Comedians. The Kids in the Hall and Tompkins shows will only stream live; the others will be available to replay for 48 hours.
ASM Global has announced a new naming rights partnership with Strawberry Hotel Group that begins in July. Under the deal, ASM will rename the former Friends Arena in Stockholm, Sweden, to Strawberry Arena.
Artelize — a platform that uses artificial intelligence to collect information about concerts and events in opera, classical music, ballet and dance, musicals, spoken theater and jazz, allowing artists and producers to quickly create posts that promote their upcoming events — has closed a pre-seed funding round of €1 million ($1.09 million) led by Bjørn Bruun, founder of Danish fashion brand Bruuns Bazaar, along with other angel investors. Based in Copenhagen, Denmark, Artelize also received a government grant from the Danish Innobooster Programme and a loan facility from the Danish Export and Investment fund as part of the round. The funding will allow Artelize, which is mainly focused on the U.S. market, to expand into the United Kingdom and Europe.
ADA Italy has signed a distribution deal with LaTarma Records. Founded by Marta Donà, LaTarma’s roster includes Ale, Giovanni Toscano, Dolcedormire, Matteo Crea and Angelina Mango.
Production music company ALIBI Music has signed Cadence Music Group as its new synch agent for Canada.
Spotify‘s annual best new artist party is returning for Grammy Week 2024.
On Thursday, Feb. 1, the streamer will showcase live performances from Grammys best new artist nominees Noah Kahan, Gracie Abrams, Victoria Monet and Jelly Roll, among others, at Paramount Studios in Hollywood. The event kicks off at 7 p.m.
“2024 marks eight years since launching Spotify’s Best New Artist campaign and seven years that we have hosted the party to honor the nominees,” says Jeremy Erlich, Spotify’s global head of music, in a statement. “Our mission is to support new artists and artist development, and BNA is a moment to honor the best of the best. It’s been incredible to celebrate with the artists and their teams and see this event grow to what it has become today.”
“Our team has been working for months to bring this event to life,” added Joe Hadley, Spotify’s global head of music partnerships & audience. “Not only do we get to celebrate the artists, but we also get to lift up our partners on the labels, publishers, management and industry teams who we work with day in and day out. Spotify prides itself on being the premiere partner for artists of all stages and their teams. It’s a privilege to not only showcase the incredible art being made but also bring opportunities to artists that help propel careers to the next level.”
The year’s other best new artist nominees are Fred again.., Ice Spice, Coco Jones and The War and Treaty.
Spotify first hosted its best new artist Grammy party in 2017, when it showcased performances by two nominees: The Chainsmokers and Maren Morris. Last year, the party featured performances from all 10 best new artist nominees — Anitta, Omar Apollo, Domi & JD Beck, Muni Long, Latto, Måneskin, Tobe Nwigwe, Molly Tuttle, Wet Leg and eventual winner Samara Joy — at the Pacific Design Center in West Hollywood.
Condé Nast announced on Wednesday (Jan. 17) that it is laying off staff at the music publication Pitchfork and that the website will be absorbed by another Condé title, the men’s magazine GQ.
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Anna Wintour, Condé Nast’s chief content officer, said in an email to staff that “we are evolving our Pitchfork team structure by bringing the team into the GQ organization. This decision was made after a careful evaluation of Pitchfork‘s performance and what we believe is the best path forward for the brand so that our coverage of music can continue to thrive with the company.”
According to the memo, Puja Patel will no longer be editor in chief after the changes; she’s been in the role since 2018.
“With these organizational changes, some of our Pitchfork colleagues will be leaving the company today,” Wintour added. “I want to thank Puja for her leadership of the title over the last five years.”
Wintour’s email to staff — first reported by Semafor — did not say how many employees were terminated. When asked about the extent of the layoffs, a Condé Nast representative pointed Billboard back to Wintour’s memo.
“After nearly 8 [years], mass layoffs got me,” longtime editor Jill Mapes tweeted. “Glad we could spend that time trying to make it a less dude-ish place just for GQ to end up at the helm.”
“It’s official: I was laid off from Pitchfork today, along with what appears to be half the staff,” Matthew Ismael Ruiz wrote. “While on parental leave.”
Like the tech and music industries, media has been ravaged by layoffs over the past 15 months. Axios reported last June that there were more than 17,000 cuts across media in the first five months of 2023, “the highest year-to-date [total] on record.”
Roger Lynch, the CEO of Condé Nast, told staff in November that the company planned to cut 270 employees, or around 5% of staff. “We are prioritizing cost reductions through real estate/office space savings (for example, we are already in the process of bringing our teams in the UK together in one space), closing open roles and re-phasing certain long-term projects across the business,” he wrote.
“However, these efforts alone won’t be enough to ensure we can continue to make the investments needed to grow our business profitably,” Lynch added. “We’ve also had to make the difficult decision to implement reductions among our dedicated teams.”
Pitchfork was founded in 1996 and grew to become one of the leading voice in indie music coverage. Condé Nast acquired it in 2015.
Marc Anthony and Sam Nazarian, founder/CEO of lifestyle and hospitality company SBE Entertainment Group, announced a “landmark alliance” on Wednesday (Jan. 17) that marks the first hospitality venture for the salsa superstar and his entertainment company, Magnus.
Through the deal, Anthony and Magnus are now equity partners in all of SBE’s existing properties, which include culinary brands, restaurants, lounges and nightclubs. According to a press release, SBE’s new multi-vertical business strategy will focus on growing the brand among Latin American audiences.
Additionally, new properties will also be launched in the hospitality space and additional brands will be created together. The alliance also opens new opportunities for Magnus’ roster (record label, management and booking), which includes Luis Figueroa, Mau y Ricky, Fonseca and Gente de Zona.
Aside from his decades-long music career, Anthony is a multi-hyphenate businessman who launched Magnus in 2015 to represent both Latin artists and athletes in the United States. In 2009, he became a minority owner of the Miami Dolphins, and last December, launched the electric powerboating team, E1 Team Miami. In 2012, his work in philanthropy led him to launch the Maestro Cares Foundation, which has built orphanages in various countries in Latin America and the Caribbean.
“It would be an understatement to say that this announcement today is one of the greatest highlights of all of the endeavors I’ve taken on in my life,” Anthony said in a statement. “To have the honor to join forces with my great friend Sam and SBE, is something we have spoken about throughout the years and the time has finally come. My team, alongside the unparalleled expertise of SBE, is poised to contribute significantly to the success of this new journey. With a shared commitment to excellence and a track record of unparalleled vision and execution, we are excited to bring our best-in-class capabilities to elevate SBE’s projects to new heights. Together, we look forward to unveiling a series of remarkable initiatives that showcase the synergy and excellence synonymous with the SBE family.”
“It’s an honor to join forces with long-time friend and international superstar Marc Anthony. I have a tremendous amount of admiration for the career that he has built, and, more importantly, his entrepreneurial instinct,” added Nazarian, who founded SBE in 2002. “It’s been an aspiration of ours to come together to build something special, and I am excited to share all the amazing things we are working on with him as our strategic partner. My sbe team is honored to collaborate with the best-in-class entrepreneurial team Marc has built at Magnus, led by a dynamic team, CEO Michel Vega and COO Felipe Pimiento, to connect with and deliver experiences to an audience that Marc has so carefully cultivated throughout his career. This is just the beginning, and I can’t wait to see what we build together.”
Billboard and Billboard Español announce a groundbreaking tequila partnership with Tres Generaciones® as the official tequila partner for 2024. The collaboration kicks off at Billboard’s Power 100 Event with an intimate dinner in Los Angeles, featuring music industry leaders. Throughout the year, the partnership curates unique music experiences, interactive fan engagement, and content across major U.S. cities.
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Mike Van, president of Billboard, expresses excitement about the partnership, aiming to infuse culture, music, and premium tequila into events for fans and artists. The collaboration honors success stories and celebrates resilience, with Tres Generaciones® tequila playing a central role at iconic Billboard events like R&B/Hip-Hop Power Players and Latin Music Week.
To raise a toast to the power of music and pay homage to the songs that inspire us, Tres Generaciones® and Billboard will present “Get Up Anthems.” These hand selected playlists celebrate the songs that uplift each city and showcase the next generation of talented artists. The first “Get Up Anthem” will drop in Houston this spring, followed by Atlanta, Chicago, New York, Miami, and Los Angeles.
Beyond the playlists, each city will feature a writers-room-style content series, ‘The Debate,’ where artists, city experts and cultural tastemakers from these hometowns discuss the significance of the songs featured – paired with Tres Generaciones® tequila.
Chad Goven, managing director of tequila at Beam Suntory, expresses pride in joining forces with Billboard, emphasizing shared values of breaking boundaries and innovation. Tres Generaciones®, with 150 years of distilling excellence, represents determination and creativity. The incredibly smooth, triple distilled, agave-forward tequila is the spirit of choice for pioneers who redefine success with unrelenting passion and purpose.
Enjoy Responsibly. Tres Generaciones® Tequila, 40% Alc/Vol. © 2024 Sauza Tequila Import Company, Chicago, IL.
Mike Taylor, the U.S.-born music man who forged an outstanding major label career in his adopted homeland, Australia, where he A&R’d Delta Goodrem’s mega-hit album Innocent Eyes, has died following a battle with cancer. He was 54.
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“After enduring a long illness, Michael Taylor passed away peacefully on Jan. 11, 2024, in Brewster, New York, surrounded by family and loved ones,” reads a message circulated by family members.
Taylor moved to Sydney, Australia in 2001 when he joined Sony Music as head of A&R for Sony Music. There, Taylor worked on Goodrem’s Innocent Eyes, an album that created history, and cleaned up on the charts – and later, awards ceremonies.
Innocent Eyes logged an unprecedented 29 weeks at No.1 on the ARIA Albums Chart following its release in March 2003, and was declared the highest-selling album award at the ARIA Awards two years running. Delta snagged seven ARIA Awards in 2003, and was the first artist to have five No. 1 singles on the Australian chart from a debut album.
Taylor was rewarded by Sony Music with a stint in the U.S., where he served as senior director with the major’s Epic Records division. Less than two years later, he was back in Sydney, starting what would be a 15-year tenure with Universal Music Australia, which included stints as executive VP, A&R and founding general manager and head of UMA imprint, Island Records Australia.
At UMA, he was instrumental in growing the company’s domestic roster, signing a lineup of stars including Hilltop Hoods, Havana Brown, Baker Boy, Briggs, Clare Bowditch, Shane Nicholson, The McClymonts and Dean Lewis.
In September 2022, Taylor announced plans to leave his post as managing director of UMA, citing personal reasons and to dedicate more time to ongoing treatments.
Earlier in his career, Taylor had A&R stints in the U.S. with Columbia Records and at Madonna’s Maverick Recording Company.
For much of his time Down Under, Taylor’s was the only American accent to be heard at showcases and awards parties.
“I loved it then, and love it now. Living in Sydney is such an enjoyable life style,” he told this reporter in 2013, on his move to Australia. “I grew up in New York and lived in the city for years, so I wanted a change. In terms of the music scene and industry in Australia, I think it’s really vibrant, and punches way above its weight class for its population size.”
Outside of his day-to-day duties, Taylor and Peter Coquillard, now senior manager and head of international, Milk and Honey, established the Bali Songwriting Invitational, a camp where music creators could collaborate in paradise.
“Great songs are the key to success for an artist,” Taylor explained. “Writing in an environment that takes you out of your normal day to day can act be a catalyst to special songs.”
As news of his passing spread through the Australian industry, friends and colleagues remembered Taylor as one of the good guys, passionate about music, loyal to his people.
“Professionally respected and personally admired by everyone in the business,” is how Darren Aboud, COO at Select Music Agency, remembers his friend and former colleague. “He was a joy to work with; he gave so much back and his knowledge about cocktails was only surpassed by his knowledge of music.” Taylor and Aboud were appointed joint managing directors for Universal Music Labels Australia, as part of a restructuring unveiled in 2014. “His five-year fight with cancer was extraordinary,” recounts Aboud. “He was determined to live the best life no matter what he was up against.”
Adrian Wauchope, senior VP commercial at Warner Music Australasia, salutes Taylor as “a legend and a true music man,” while Don Elford, director of global partnerships at ASM Global, remembers Taylor as “the real deal.”
Taylor is survived by his wife Jenny and son Charlie.
His life and career will be celebrated this Saturday, Jan. 20 during a service at St Lawrence O’Toole Church, in Brewster, New York. A party will follow. In lieu of flowers, donations can be made to Charlie Taylor’s college fund.
Universal Music Group (UMG) shares rose 3% on Friday — the same day news broke that the company will lay off hundreds of staffers — and finished the week up 6.9% to 26.95 euros ($29.54). The prospect of cost savings made UMG the top-performing music stock of the week, beating French music streaming company Deezer’s 6.5% gain and 6% improvements by both Chinese music streamer Tencent Music Entertainment and live entertainment company MSG Entertainment.
UMG first let investors know it was planning layoffs in its October earnings call. On Friday, a report by Bloomberg said UMG is planning layoffs as early as this quarter, primarily in its recorded music division. A company spokesperson declined to comment on the scope and timetable of the layoffs but told Billboard UMG is “creating efficiencies” in certain areas of the business “so we can remain nimble and responsive to the dynamic market, while realizing the benefits of our scale.” UMG’s stock gained 14.7% in 2023.
Despite no stocks finishing the week with double-digit gains, the 20-company Billboard Global Music Index rose 3.6% to a record 1,566.45 as 12 companies posted gains and eight companies’ share prices declined. Streaming companies led the way with an average gain of 3.9%. Live music companies averaged a 0.7% improvement. Record labels and publishers dropped an average of 1.5%. Radio companies lost an average of 4%.
Music stocks topped the tech-heavy Nasdaq composite, which gained 3.1% to 14,972.76 and easily bested the S&P 500’s 1.8% increase to 4,783.83. In the United Kingdom, the FTSE 100 fell 0.8% to 7,624.93. South Korea’s KOSPI composite index dropped 2.1% to 2,525.05.
The index got a big lift from Spotify’s 4.9% gain to $203.03 this week. Spotify has surged 12.4% since it announced layoffs on December 4 and pledged to operate more efficiently. On Thursday, Spotify closed above $200 for the first time since Feb. 1, 2022. At Friday’s closing price, the stock is up 120.5% in the last 52 weeks.
Live Nation finished the week up 1.6% to $90.66 after Roth analyst Eric Handler upgraded the stock to “buy” and increased the price target from $92 to $114. The $114 price target implies a nearly 26% upside from Friday’s closing price.
Shares of French music company Believe fell 10.5% to 8.97 euros ($9.83) on Friday’s news that the company’s investors were pursuing taking the company private. According to a Reuters report, Believe’s largest shareholders, which includes founder Denis Ladegaillerie and U.S. investment firm TCV, have been working with advisors to gauge the interest of private equity firms. In the first nine months of 2023, Believe, the owner of digital distributor TuneCore and record labels such as PlayTwo and Jo&Co, had revenue of 630.4 million euros ($691 million), up 14.8% year over year.
While other companies in recorded music and publishing posted gains this week, K-pop stocks were down across the board. HYBE’s 2% decline to 247,000 won ($188.05) was the best of the four South Korean music companies. JYP Entertainment fell 8.3% to 96,600 won ($73.54). Two others each dropped 5.9%: SM Entertainment closed at 88,200 won ($67.15) and YG Entertainment finished the week at 43,100 won ($32.81).