Business News
Page: 8
Global royalty collections for song rightsholders grew 7.6% last year, to a new high of 11.75 billion Euros ($10.9 billion, based on the average exchange rate for 2023), according to CISAC (the Confédération Internationale des Sociétés d´Auteurs et Compositeurs), the Paris-based collecting societies trade organization. Much of the growth was driven by two categories: Digital collections rose 9.6% to 4.52 billion Euros ($4.18 billion), while live and background music royalties grew 21.8% — fueled largely by the concert business — to overtake the pre-pandemic total from 2019.
The big collecting societies all had good years, but the CISAC report offers unparalleled insight into a complicated but important part of the music publishing business. (CISAC includes other collecting societies from outside the music business, but publishing accounts for most of these royalties, which are, in turn, more important to music than to other businesses. CISAC breaks out music royalties, but its figures only include those that go through CISAC member societies rather than direct deals.) There are no big surprises here: Digital has been the main driver of growth recently, more than doubling in five years from 2.06 billion Euros ($1.90 billion) in 2019 to 4.52 billion Euros ($4.18 billion) last year — although last year’s growth of 9.6% was lower than in any of the preceding four. Digital now accounts for 38.5% of collections, more than any other category.
Trending on Billboard
Collections for broadcast and live concerts and background music represent the two other major sources of revenue, accounting for 28.7% and 26.1%, respectively. (Background music refers to compositions played in public, at restaurants, stores or bars, for example.) Royalties from TV and radio declined 5.3% to 3.37 billion Euros ($3.11 billion) after a significant jump the previous year. They have stayed fairly steady over the past half-decade.
The live and background music figures are more complicated because of the disruption from the pandemic. Last year those categories grew to 3.06 billion euros ($2.82 billion), fueled mostly by the return of live music revenue, which in some regions may lag live music events. More significantly, that represents a 12.7% jump from 2019.
Collecting societies take in most of their business in Europe and the U.S.; CISAC has one category for Western Europe and another for the U.S. and Canada. Western Europe collections rose 8.2%, while those in the U.S. and Canada rose 7.8%. Taken as a whole, Europe accounts for more than half of total collecting society revenue, and the U.S. and Canada together account for another 27.1%. Asia-Pacific royalties shrank by .3%, largely due to currency fluctuations in Japan, without which the region would have seen 6.8% growth. The fastest growing region is Latin America, up by 26.2% — and by 108.2% over the past two years – although it only accounts for 5.9% of the overall market. Africa, where executives have seen massive potential for years, is still growing very slowly – up 3.2% to .6% of the overall market.
General CISAC collections are also up 7.6%, to 13.09 billion Euros ($12.1 billion), also an all-time high, with digital up 9.6% to 4.62 billion Euros ($4.3 billion). (This includes collecting societies for other media, such as writing and visual art, which many countries in Europe have.)
Billboard will follow this news story with a more extensive analysis of growth sectors, the future of various markets, and how this business might grow in the years ahead.
Music stars Snoop Dogg, SZA, Latto, Charlie Wilson, Metro Boomin and Tyler, the Creator are among this year’s slate of EBONY Power 100 honorees. The awards ceremony — which will also commemorate the legendary magazine’s 79th anniversary — will take place Nov. 17 at Nya Studios West in Los Angeles.
The 100 honorees are divided among 10 categories: Artists in Residence, Business Disruptors, Community Crusaders, Entertainment Powerhouses, Generation Next, Influential Creators, Leaders in Sport, Media Mavens, Music Innovators and STEM Trailblazers. Representing a diverse array of talent, business entrepreneurs, leaders and pioneers, the list’s additional 2024 honorees include Kevin Hart, Congressman Hakeem Jeffries, Jennifer Hudson, Maya Rudolph, Doechii, Jaylen Brown, Keke Palmer and Shannon Sharpe. For a complete list of EBONY Power 100 honorees and updates, visit here.
Trending on Billboard
In a release announcing the 2024 honorees, EBONY CEO Eden Bridgeman said, “We have been gearing up for the most anticipated EBONY Power 100 yet. This iconic list is not just a celebration; it’s a vital recognition of those who are shaping culture and driving real change in our communities. At a time when honoring Black excellence is more important than ever, the excitement is building, and we are excited to unveil the transformative leaders who will define this year’s EBONY Power 100!”
Over the last several years, prior music industry honorees have included Usher, Tems, H.E.R., Travis Scott and Jimmy Jam & Terry Lewis. The 2024 EBONY Power 100 Gala is supported in sponsorship by Nationwide, Prime’s new original series Cross, United Airlines and Baccarat.
EMPIRE president Tina Davis took part in a keynote conversation during ADE 2024, speaking before a crowded audience at the annual dance music industry conference in Amsterdam.
The Saturday (Oct. 19 )talk spanned many facets of Davis’ career, starting when she was a 25-year-old running the A&R department at Def Jam and taking the bus to work.
“I didn’t have a car. I was sitting in a bus going to work every day, running Def Jam on the West Coast, making pennies,” Davis said while talking about pursuing her career despite feelings of self-doubt. “I think it’s just all about how much you want it, how much drive [you have] and how much you believe in yourself. Even though you might doubt yourself, just try anyway.”
The conversation, moderated by journalist Pay Komüs, focused largely on Davis’ work as president of EMPIRE, a position she ascended to in the summer of 2023 after five years at the independent Bay Area-based label, publisher and distributor. The executive spoke about working on EMPIRE’S global business, the importance of authenticity for artists and how such authenticity helped Shaboozey become one of the breakout artists of 2024. The hip-hop/country artist signed to EMPIRE IN 2021, and three years later his hit single, “A Bar Song (Tipsy),” made him famous. The song is currently in its 15th week at No. 1 on the Hot 100.
Trending on Billboard
Davis was one of the thousands of industry executives who traveled to Amsterdam for ADE, which has already announced dates for next year’s event: Oct. 22-26, 2025. These are five key takeaways from her keynote.
Working Globally Means Working Collaboratively
With teams in the U.S., Europe, Africa and the Middle East, Davis stressed that it’s crucial that each territory takes the lead in its own decision-making. “We’re not in San Francisco telling the people in Africa, ‘This is how you need to do it,’ or telling [our team] here in Amsterdam, ‘You need to do it this way,’” she said. “We can’t tell you how it needs to be done. We have a structure in mind. We know how we like it. We know it’s about authenticity. We know it’s about being culturally significant. But for the most part, we make sure we work with the people we have in our company and take their advice, listen to them; they listen to us, and we work together as a strategy in everything that we do.”
Every Artist Is a Partner
“We don’t sign artists, we sign partners,” Davis said of bringing new acts onto the roster. “We look at them as partners. We look at their business and figure out how we can help them scale up, just as we’re doing for ourselves.” For this type of structure to work, Davis stressed that trust is essential to “make sure that relationship is strong. We want to make sure that our artists feel our presence, and they understand how much we care about their future.”
Artist Authenticity Is Crucial
EMPIRE, Davis said, “is a company that leans heavily on authenticity and culture. If you’re not true to yourself, you can’t be true to us, and you can’t be true to your consumer.” The company “isn’t against” artists who consistently change styles, she continued, “but at the same time, it’s sort of like, ‘Okay, is that really who you are?’ Let’s figure out how we can get a middle ground, or figure out how you can present yourself in a different way, but still not lose the fan base you have.’”
On The Success of Shaboozey — And the Patience Required to Get Him to This Point
Expanding on her thoughts on authenticity, Davis said that EMPIRE is “intricate when it comes to making sure the direction fits the talent.” She recalled that when Shaboozey was presented to the company, “he had wicks in his head, he’s a tall African American, and he came in doing country and hip-hop. Nothing really was working at that time. It had happened before, but nothing at that time was really at the top of the charts that sounded like him.”
But Davis says that when the team met him, they felt his authenticity. “So you can’t tell somebody that looks like that, ‘Hey, you’re not country. You can’t do country,’” she said. During the three years Shaboozey was signed to EMPIRE before blowing up, “we honed in and allowed him to just continue on his journey and keep growing. He was putting out music, and the first records and project did okay, but it took a minute for it to get to this point, and we had the patience for that.”
Artists Don’t Need a Major Label to Succeed
Davis questioned the need for artists to be on a major label to be successful, suggesting they shift their mindset about major label deals being essential — particularly when it comes to artists maintaining control of their masters by staying independent. “I cannot tell you why someone like Justin Timberlake still has a record deal at a major,” Davis observed. “It makes no sense. Mind you, his deal probably is a little bit better than most of the newer artists that are coming up, but it still makes no sense; he should be distributing himself. He could go on TuneCore and make a lot more money than he’d make with that major from that big check that they give him.
She continued that changing artists’ mentality around major label deals has been “a process. It’s been an old rule for years that only majors can break you, but Shaboozey shows you right now that you really don’t need a major.”
Not Paying Attention To What Other People Are Doing Can Be a Key to Success
Davis observed that you’ve “got to kind of have blinders on when you’re working on your own thing, when you’re focused on your own vision, when you’re trying to accomplish something. You can’t look to the side, because you’re going to lose a race. You have to stay focused and look at what you’re working on because you have to figure out how you make your lane in the highway where everybody is still driving in the same direction.”
She also emphasized EMPIRE’S position as an innovator and leader, continuing that other companies “look at us. They follow us. They’re all turning toward where we have always been. When they started hiring DEI departments, we didn’t need it. We were already diverse. When they were like, ‘We need more women.’ We were 51% women. We were like, ‘We don’t need to worry about that.’ We’re purveyors of taste. We’re leaders; we don’t like to follow.”
Global superstars like Adele, Harry Styles and Ed Sheeran helped British music exports climb to a record high of £775 million ($974 million) last year, though increasing competition from other international markets such as Latin America and South Korea is putting the U.K.’s long-held status as a “music superpower” at risk, according to labels trade body BPI.
BPI, which represents over 500 independent labels, as well as the U.K. arms of Universal Music Group, Sony Music Entertainment and Warner Music Group, says 2023’s export tally is the highest annual total since the organization began analyzing labels’ overseas income in 2000 and more than three times the amount recorded a decade ago.
However, last year’s 7.6% rise in export sales — comprising all physical music sales and streams of U.K. artists overseas — was less than half of the 20% increase reported in 2022, with BPI estimating that artists from the U.K. now account for less than 10% of global music streams, according to figures released Monday (Oct. 21).
Trending on Billboard
In comparison, as recently as 2015, U.K. artists were estimated to collectively account for 17% of music consumption worldwide, reports BPI, which bases its numbers upon label trade revenue.
“It is encouraging to see British recorded music continuing to perform strongly on the world stage, but we can and must do even better in the face of fierce global competition as rival markets grow at pace,” said BPI CEO Jo Twist in a statement.
BPI said the U.K. was no longer just competing against traditional “heavyweights” such as the U.S. and Canada but also with fast-growing music markets in Latin America and countries like South Korea where artists can receive significant government backing.
To maintain the U.K.’s “proud record as a music superpower,” said Twist, the British music businesses must receive government backing to create “a supportive policy environment” that encourages record label investment in talent. Future legislation around the use of artificial intelligence (AI) in the U.K. must keep “human artistry at the heart of the creative process,” added the BPI boss.
Adele, Dua Lipa, Sheeran, Styles, The Beatles, Queen and Elton John all ranked among the most streamed U.K. artists globally last year, said the London-based trade organization, citing Luminate data.
Breakthrough acts Glass Animals, PinkPantheress, Raye and rapper Central Cee all received more than 1 billion streams worldwide in 2023, while around 500 U.K. artists accumulated more than 100 million global streams last year, up from almost 450 in 2022, reports BPI.
Worldwide, consumption of British music increased in every region last year, with export revenues rising by 8.2% in North America and 4.8% in Europe — the two biggest regions for U.K. music exports, accounting for almost 80% of the global total combined. There were also double-digit increases in Latin America (up 17%) and Africa (up 11%), although equivalent monetary values were not provided.
In terms of countries, the U.S. remains the biggest market for U.K. music sales, accounting for £321 million ($417 million) in trade revenue, a rise of 8.3% on the previous year. Germany stays in second place with revenue climbing 6.7% to £63 million ($82 million), followed by France (up 2.4% to $57 million). China overtook Sweden to claim tenth position, with British acts’ earnings rising by 11% to £14 million ($18 million) in the country.
The U.K. is the world’s third-biggest recorded music market behind the U.S. and Japan with sales of $1.9 billion in 2023, according to IFPI. It is also the second-largest exporter of recorded music worldwide behind the U.S.
LONDON — Jeff Jones will step down as the CEO of The Beatles’ Apple Corps Ltd after 17 years in the role, the company has announced (Oct. 21). Apple Corps Ltd was founded in 1968 by the Fab Four to control the band’s interests across music, film, publishing and more. The role of CEO was […]
James Leach, vp of creative services and West Coast operations for SESAC, passed away on Thursday (Oct. 17) in Los Angeles. The well-respected music industry executive died following a battle with cancer.
Beginning his tenure at SESAC in 2001 as director of writer/publisher relations, Leach covered pop, R&B and rock. During his 23 years with the performing rights organization, Leach signed funk legend George Clinton, Lalah Hathaway and Ab-Soul as well as songwriter/producers such as Nate “Danja” Hills, Harvey Mason Jr. (The Underdogs) and John “Jaylien” Wesley. He also established the company’s Los Angeles office.
Paying tribute to Leach, SESAC commented in part on its website, “Emanating from his warmth, kindness and enthusiasm for life, James will continue to shine light on those he knew … James was not just a leader for the Los Angeles-based creative services team but a constant wellspring of support and inspiration for SESAC-affiliated songwriters and publishers. In addition to his deep love of music and unwavering dedication to nurturing talent was his advocation of culture and DEI. He continuously promoted awareness and understanding. His ethos of service and making things better was the keystone of his work.”
Trending on Billboard
Hailing from Montclair, N.J., before relocating as a teen with his family to L.A., Leach graduated from Pepperdine University with a degree in broadcast management. His lifelong love affair with music and the arts laid the foundation for a multi-faceted career that included stints in TV and radio sales, as a recording studio owner and as the head of his own music placement firm, Leach Entertainment. Internships at Famous Music and Michael Jackson’s ATV Music (prior to its merger with Sony) led to his being appointed director of creative affairs at ATV. During his seven years there, Leach signed writer/producers like Keith Crouch and Derek Allen and also worked with the catalogs of Jackson, The Beatles and Sly & the Family Stone.
Returning to Famous Music as director of creative affairs/urban music, Leach signed then-unknown songwriter/artist Akon. After leaving Famous, Leach worked as a music supervisor and consultant. His credits in that arena include the popular ‘90s series New York Undercover and Magic Johnson’s The Magic Hour.
A Billboard R&B/Hip-Hop Power Players honoree in 2019, Leach was presented with the Entertainment Advocate Award by the Living Legends Foundation in 2015. He also served on the foundation’s advisory board.
Calling Leach “the consummate professional,” Living Legends Foundation chairman David C. Linton tells Billboard, “He brought such value to enhance our mission of ‘service, scholarship and preserving the legacy of Black music executives.’ His presence will be missed both professionally and personally. Our prayers go out to his family and all who know and love him.”
Leach is survived by his mother, Claudia Leach, in addition to his siblings and other family members. The family is asking that donations in his honor be made to The Mr. Holland’s Opus Foundation.
Twitch’s head of music, Cindy Charles, has died after being involved in a traffic accident last week in The Netherlands.
Twitch CEO Daniel Clancy confirmed Charles’ death Friday (Oct. 18) on LinkedIn. Clancy remarked that “anyone that uses music on Twitch owes a debt of gratitude to Cindy’s work. She always had a bright smile on her face even as she negotiated unprecedented music licensing agreements for Twitch including the recent DJ agreement.”
That deal, which specifically covers DJs who live-stream on the platform, was announced in June and involved Twitch signing music licensing deals with all three major labels — Universal Music Group, Warner Music Group and Sony Music Entertainment — as well as many indie labels represented by Merlin.
Charles was meant to speak on a panel Thursday (Oct. 17) at the Amsterdam Dance Event, an annual dance music industry conference in the Dutch capital, offering expertise for DJs using Twitch.
Trending on Billboard
Before her six years at Twitch, Charles worked as an independent digital media consultant and also spent three years at Amazon, where she worked as the head of business development in the music department of Amazon Ticketing, along with working in the Video Shorts department. Earlier in her career, she spent seven years at Viacom, where she managed digital legal and business affairs for entities within MTV Networks.
Beyond those positions, Charles served as an advisor to the board of governors at the Recording Academy, was a co-founder of Women in Digital, which has more than 1,500 members, and co-founded the San Francisco chapter of She is the Music.
Charles was based in Berkeley, Calif., and grew up in Queens, N.Y., majoring in political science at SUNY Buffalo. She is survived by her husband, Ricky Fishman, and her two sons.
“Every success, every setback, every moment of working toward our shared mission felt deeply personal,” Twitch’s Kira Karlstrom wrote in a remembrance of Charles, “because Cindy made it that way. She cared about her team with all her heart, and our work was an extension of that care.”
Dorothy “Dottie” Leonard Miller, an entrepreneurial executive who founded several influential gospel and Christian music companies during a career spanning decades, died Friday (Oct. 11) at age 79.
After launching her own distribution company, New Day Christian Distributors, in 1981, Miller went on to create a veritable empire in the faith-based music business, with subsequent ventures including DayWind Soundtracks, DayWind Records, DayWind Music Publishing, two recording studios, and a cassette and CD manufacturing facility. More recently, she expanded her businesses to encompass DayWind Worship (choral music), Spiritus Distribution (Catholic products), Billy Blue Records (bluegrass), Billy Jam Records (country and Americana), Billy Blue Publishing and the DayWind Music Foundation, which provides an internet radio station focused on Southern Gospel.
“Dottie was a visionary, a pioneer, she was determined, humble, and generous,” said Rick Shelton, vp of DayWind Publishing, in a statement. “Serving her vision, her artists, her songwriters and the industry she loved has been a tremendous honor. What she did with her life touched the lives of so many.”
Trending on Billboard
Across her various music ventures, Miller worked with a laundry list of gospel and Christian artists including the Cumberland Boys, Greater Vision, the Crabb Family, Karen Peck and New River, Brian Free and Assurance, The Isaacs, Triumphant Quartet, Down East Boys, the Perrys, the Hoppers, Jonathan Wilburn, the Steeles, the Nelons, Lefevre Quartet, Michael English, Appalachian Road Show, Doyle Lawson and Quicksilver, Tennessee Bluegrass Band, Carolina Blue, Kristy Cox and Grasstime, Joe Mullins and the Radio Ramblers, and Bob Minner.
Miller’s success garnered her a slew of awards over the years, including lifetime achievement awards from the Gospel Music Association, BMI and the Southern Gospel Music Guild. She was also inducted into the Southern Gospel Music Hall of Fame and the Gospel Music Hall of Fame.
“Dottie Leonard’s story is a woman with vision, faith, and courage to make a difference,” said Jackie Patillo, president of the Gospel Music Association, in a statement. “Her work and tenacity will be forever remembered as will her legacy as a single mother, founder of Daywind Records, and New Day Distribution, and member of the GMA Gospel Music Hall of Fame. On behalf of the GMA Board of Directors and the entire gospel music community, we say farewell to Dottie and offer our deepest condolences to her family as she has now received her greatest reward.”
Born Aug. 10, 1945, in Wilmington, Del., Miller’s early jobs included clerical work at an accounting firm and a law firm, selling Jhirmack hair products, and working for the Democratic Party of Tennessee on campaigns for Senator Jim Sasser, President Jimmy Carter and more. As a single mother raising two children in Hendersonville, Tenn., she made ends meet throughout this early period by working a second job in ER admissions at a local hospital.
Miller’s first music industry job came when she was hired as a receptionist at Calvary Records in Nashville. She went on to work with radio stations and Christian bookstores promoting artists including the Hinsons and the Telestials. She later took a job at Windchime Records, where she worked with artists including the Paynes and Heavenbound before founding New Day with funding from her father, brother Bill Golt and family friend Ray Lorrig.
In addition to her family, co-workers, friends and artists, Miller enjoyed spending time in Florida and at her cabin in Lafayette, Tenn., where she had alpacas, donkeys and goats. Her travels took her throughout the U.S., Europe, Africa and the Caribbean.
Miller is survived by her daughter, Susan Leonard Sovine, and grandchildren Taylor McKellar and Kennedy Sovine; her son, Ed Leonard, his wife Kathleen, and their children Eddie Leonard, Mary Leonard, Evan Leonard, Aidan Leonard (Caroline Leonard), Rachael Zuckett (Joey Zuckett), Caroline Leonard, Ian Leonard, Liam Leonard, and Emily Leonard; her great-grandchildren Leo Zuckett and Eloise Joyce; her sister, Cynthia Paranczak; and her longtime companion, Jere Miller. She was preceded in death by her brother, Bill Golt, and her parents, William and Dorothy Golt.
A celebration of Miller’s life will be held at a later date.
You can read more tributes to Miller below.
“For the more than forty years of our friendship, Dottie was a champion for our genre’s Music. She was a pioneer in her field, and she was passionate about her mission to get The Gospel to as many people as possible. I will miss her enthusiasm and our conversations, which always included lots of laughter. My friend is with The Lord, but we WILL meet again, soon!” – Gerald Wolfe, Greater Vision
“Dottie was one of my greatest heroes and influences. She blazed the trail for many of us in Southern Gospel Music. I love that she always trusted the Lord in fulfilling her dreams of spreading the Gospel of Jesus Christ into all the world. Those dreams became realities. Now she is reaping the harvest of the many souls she touched for the cause of Christ. I love and appreciate Dottie more than words can express. She will be greatly missed. Her legacy will live on forever.” – Karen Peck-Gooch, Karen Peck & New River
“Almost 30 years ago I met a wonderful, smart, classy lady named Dottie. She had the ability to make you smile even when you didn’t necessarily feel like it. She lit up a room the moment she walked in no matter who else was there. She also showed the world she was a savvy businesswoman by starting the best record company in the world. I’ll miss you Dottie and so will many other people but I’m glad you’re not in pain anymore. I’ll never forget your smile.” – Brian Free, Brian Free & Assurance
“I’ve been with Daywind Records for over 20 years. I’ll never forget Dottie taking a chance on signing me after I got out of rehab and I was only six months clean and sober. She will be truly be missed” – Joseph Habedank
“She was a front runner in a world where businesses were run by men. She was an incredibly strong woman. She gave a lot of families hope and jobs. Nothing got in the way of her vision. On a personal side, our family has been a part of Daywind for over 25 years. We love Dottie. When Shellye and I first got married, we were doing everything we could to make ends meet. Dottie would give us her condo to have a vacation. Dottie was special to all of us. She is forever going to be miss. BUT can you imagine what she’s doing right now? She’s having a time. We wouldn’t bring her back for nothing. Dottie, enjoy it. You told everybody about. You helped everybody tell others about it. Welcome into the kingdom.” – Jason Crabb
“We can only imagine the reunion our beloved friend Dottie is having with so many artists she helped and loved along the way. She is home and at perfect peace with her Savior who is no doubt smiling with her because of the incredible heavenly choir she helped ensure with her earthly faithfulness. We will join them one day and we will all finally feel complete. Dottie, you are so loved and will be missed so much.” – The Isaacs
“Our beautiful Dottie Leonard has taken her flight like a mighty eagle. What an exceptional woman of faith, wisdom, foresight, courage and excellence; she paved the way for so many of us! She was a true fan of Gospel Music and believed it was her lifelong calling to ensure that great gifts in us are to be celebrated & given worldwide platforms. On a personal note…. she was/is a dear friend whose legacy will live forever. She was the treasure of encouragement. We didn’t ‘lose’ her… we know exactly where she is! Please give Mama Dottie Rambo a hug from me. Love you so much… see you at The House.” – Reba Rambo
“Dottie was one of the most respected and admired people in Southern Gospel music and beyond! Her work ethic was what one should strive to emulate. Awarded here, rewarded on Heaven’s shore!” – Doyle Lawson
“We will always remember Dottie as a sweet, dedicated, woman of God, who changed the world with her love of gospel music, and we will be forever grateful for the gift of her encouragement in our lives.” – Jim and Melissa Brady
“I met Dottie over 30 years ago, and I knew then I had met a “life friend”. She was a friend, business partner, and great counselor. Life was made sweeter because of her love for me. I will meet her again because of our belief in the savior, Jesus Christ.” – Jonathan Wilburn
“Had it not been for Dottie Leonard Miller, you would have never heard a song I’d written, a track I’d produced, or an orchestration I’d created. She believed in me when others didn’t. She believed in me when I didn’t believe in myself. She gave us the truest example of how faith in motion works. And now her faith has become sight. I am heartbroken, but I know I will find her again.” – Wayne Haun
“Dottie Leonard Miller wasn’t just a pioneer; she was a trailblazer with a heart full of faith and a vision that reshaped the landscape of Southern Gospel music and the Christian bookstore industry. Through Daywind Records and New Day Christian Distribution, she brought light, and hope to so many, empowering artists, songwriters, bookstores, publishers, record labels and touching countless lives. Her legacy is one of unwavering dedication and belief in the power of the gospel to change hearts. We have lost a true giant and a treasured friend, but her spirit will continue to inspire us every day.” — Dusty Wells, Director of A&R and Label Relations, Daywind Music Group
“Dottie Leonard Miller was a true inspiration and encourager to many across this country and around the world. Her love for others and leadership through Gospel Music will continue to impact lives for decades to come.” – Gary Casto, Tribute Quartet
“Dottie was a visionary and a pioneer. People with that gift and calling are a breed apart, often questioned and sometimes misunderstood, but fiercely dedicated to allowing the dream inside them to manifest itself in the physical realm. Dottie’s dedication to that dream and its’ subsequent value will only fully be recognized in eternity. The music she championed reverberates not only on earth but in heaven as well, and countless lives have been changed, hearts have been encouraged, and burdens lightened by the message of the resources provided by New Day Distribution and Daywind Records. Thank you, Dottie, for being true to the call God had on your life. We are all blessed by the fruit you bore and your faithfulness to never give up.” – Billy Blackwood, Blackwood Brothers Quartet
“Dottie Leonard Miller’s passion for music was unmatched. And, her vision and God-given ability to use the power of that music to reach people in a positive way through the companies she has built, has literally impacted millions of lives over her long and illustrious career. She was easily one of the strongest women and most faithful servants of God I have ever known. She was so proud of our Daywind, New Day, and Billy Blue family, and she loved and appreciated each and every artist and member of our family. She will be greatly missed, but her legacy will be honored by continuing to spread the Gospel and love of Jesus Christ through the music and products we create.” – Jerry Salley, A&R/Creative Director, Billy Blue Records
Time to drop the needle on the latest 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 also check out Billboard‘s annual list of music’s highest compensated executives, plus our weekly interview series spotlighting a single executive, our helpful calendar of notable events, and have you ever wanted to look at tchotchkes inside the office of an executive while reading their in-depth answers to the most important questions facing the biz? From the Desk Of is probably your jam.
Capitol Records appointed Justin Grant as senior vice president and head of urban digital — putting him in charge of digital marketing efforts for R&B and hip-hop artists across Capitol, Motown and Priority Records. Grant spent a decade at Atlantic Records, rising from intern to vp of digital marketing & sports partnerships, where he worked with artists like Cardi B, Lil Uzi Vert, Kodak Black and NBA YoungBoy. Additionally, Capitol promoted Dante Smith to head of Motown digital. Smith will manage digital campaigns, direct-to-consumer efforts and brand development for the storied label. Since joining Capitol in 2020, Smith has collaborated with artists such as Ice Spice, Quavo, Lil Yachty and Kali Uchis. Grant will be based in NYC while Smith works out of Capitol’s Hollywood headquarters. In comments about both executives, Capitol Music Group chairman and CEO Tom March said Grant “knows what it takes to break artists” and is “hugely respected and exceptional at what he does,” while Smith has “delivered brilliant marketing campaigns for a number of years now for artists across the roster.”
Trending on Billboard
Creative agency WMA appointed Sony Music veteran Mike O’Keefe as global vice president of creative, effective immediately. With three decades of experience under his belt, O’Keefe joins in a creative and strategic consultancy role and will help oversee bigger 360 creative projects at WMA. O’Keefe started his career in the early 1990s with Conspiracy Films and Oil Factory before joining Sony Music in 1995. At Sony, he worked on notable projects like Jamiroquai’s groundbreaking “Virtual Insanity” video and later became vp of creative at the label. He has collaborated with artists such as One Direction, Kasabian, Little Mix and Calvin Harris. Celebrating its 10th anniversary in 2023, WMA has delivered award-clinching campaigns for clients like Doja Cat, Billie Eilish, Dolly Parton and Spotify, among others. Founder and Global CEO Seb Weller expressed pride in WMA’s decade-long journey and said he was thrilled to work with O’Keefe again, while global vp Crystina Cinti called it an exciting to be “working with such a legend,” adding, “Mike’s credibility and experience in the industry is immense and he joins us at a significant time.”
Prescription Songs promoted Rachel Wein to senior director of A&R. Throughout her more than seven year with the company, Wein has played a key role in expanding Prescription’s Nashville roster to over 30 songwriters, artists, and producers, contributing to the company’s broader network of 150 acts. In her elevated role, Wein will continue managing roster artists and songwriters, including Morgan Nagler, known for co-writing “Kyoto” with Phoebe Bridgers, a Grammy-nominated hit. Under Wein’s leadership, Nagler has collaborated with mxmtoon, Astrid S, Maddie Zahm, and more. Wein has also been instrumental in developing emerging acts like JORDY, Greyson Chance, and Parson James, while overseeing top producers such as Sean Small (Keith Urban, Lainey Wilson) and Spellz (Wizkid, Burna Boy). Wein joined Prescription Songs in 2017 as the first hire in their Nashville office. Outside of music, Wein actively supports community initiatives, serving on leadership boards for Family Alliance in Music and Salt Lick Incubator. She also mentors LGBTQ+ youth through Youth Villages and was honored with the Marchetti Impact Award for her efforts with the Cystic Fibrosis Foundation. Katie Fagan, Prescription Songs’ head of A&R, praised Wein as an “integral part of our growth as a team here in Nashville and I’m looking forward to seeing her win big in the coming years,” while Wein expressed her excitement about continuing to work with the “simply unmatched” company.
Universal Music Group Nashville promoted Damon Moberly to the role of senior vp of promotion. Moberly has been with the label group for over 25 years, most recently serving as senior vp and head of the Mercury Nashville imprint’s radio promotion team. Moberly launched his country radio promotion career with work on the launch of Shania Twain’s Come On Over album and has since aided in the careers of artists including Jamey Johnson, Terri Clark, Chris Stapleton and The War and Treaty, in addition to working special projects including an Eagles single to country radio and the breakout hit “Man of Constant Sorrow” from the O Brother, Where Art Thou? soundtrack. –Jessica Nicholson
NASHVILLE NOTES: Concord named Anke Becker as vice president, information technology. Becker will be based in Concord’s London office and will report to Jonathan Eby, Concord senior vp, information services and technology. Becker previously spent a decade at BMG, where she led the creation of BMG’s proprietary client portal … Gabb, makers of kid-safe tech and the Gabb Music streaming service, hired Sidney Coury as its new digital operations coordinator. Earlier this year, Marco Vega joined the team as music coordinator. Coury previously worked at Olivia Management, while Vega has worked at Universal Music Publishing Group and Flood, Bumstead, McCready & McCarthy. The hires coincide with the opening of Gabb Music’s new office on Music Row in Nashville (1030 16th Ave S), and Gabb HQ’s recent move to an expanded facility in Lehi, Utah.
CD Baby, a division of Downtown Music, appointed Jean Mischler as senior vp of marketing. Based in New York, Mischler will oversee marketing for CD Baby and its direct-to-creator services, including Soundrop and CD Baby Stages. Reporting to CD Baby president Molly Neuman, she’ll lead initiatives to help independent artists grow their fanbase and visibility globally. Mischler previously served as vp of growth marketing at Sofar Sounds, where she boosted ticket sales and revenue through social media, email and partnerships. Neuman noted Mischler’s nearly 20 years of experience, saying “her approach to marketing and deep understanding of the independent music landscape will be instrumental as we expand CD Baby’s reach to independent artists around the world.”
Believe introduced a new global music strategy led by Romain Vivien, its global head of music and president for Europe. The strategy focuses on enhancing artist development and creating more value for artists and labels at all career stages. As prez of Europe, Vivien oversees operations in France, the UK, and Germany — and collaborates with teams across 50 markets to design and implement strategies that accelerate Believe’s “Artist Services” business, supporting digital artists across 14+ countries. He’ll also work to strengthen Believe’s “Label & Artist Solutions” offering by aligning distribution, marketing, digital promotion and publishing services. Denis Ladegaillerie, Believe’s founder and CEO, praised Vivien’s leadership in scaling the company’s global presence. “He has been instrumental in building our music vision across the group,” he said. “Constantly leading his teams to innovate and push barriers to enable the emergence of new talents across hip-hop, pop, electronic music and more – all the while sustaining an impeccable delivery of premium services to our top artists and labels.”
RADIO, RADIO: Juan Navarro was promoted to chief revenue officer of Entravision Communications, replacing Karl Meyer, who was dismissed following challenges related to the loss of Meta’s Authorized Sales Partner program. Despite this setback, Entravision reported a 12% increase in net revenue for Q2 2024. Navarro brings over 20 years of media experience to his new role, having previously served as executive vp of local sales and integrated marketing solutions and as regional vp of integrated marketing solutions … iHeartMedia division and region president Tom McConnell is retiring after nearly 30 years with the company, leading to an executive restructure. Eddie Martiny, currently Houston region president, will become division president for the big four Texas markets (San Antonio, Dallas, Austin, Houston), as well as New Orleans and Baton Rouge. John Karpinski, evp of strategic partnerships, will take on the role of division president for markets in the Carolinas, St. Louis, Indianapolis, Memphis, and Kentucky.
JET Management added veteran manager Elena Awbrey to its team. Awbrey’s career began in Live Nation’s touring department before she transitioned to management, working with Motley Crüe and discovering Mannequin Pussy. She later managed Miguel at Atom Factory, guiding his Grammy-nominated albums. At Career Artist Management and Roc Nation, she developed artists like Chika, a 2020 XXL Freshman and Grammy-nominated Best New Artist. Awbrey, who also founded Moonshot Management, was named one of Billboard’s 2020 Changemakers. Founded in 2020 by John Scholz and Tyler Goldberg, JET’s roster features top-tier talent like Justice, Suki Waterhouse, LP Giobbi, Madeon, Sam Gellaitry, and Girl Talk. JET is also partnered with Firebird, a next-generation music company.
Granderson Des Rochers appointed Joey Seiler as senior counsel in its New Media practice. Seiler, a seasoned music licensing attorney, joins from Block, where he led TIDAL’s licensing team. With over a decade of experience, he has worked with labels, digital service providers and creatives to license music for innovative business models. His career includes roles at Empire and Loeb & Loeb, representing a range of clients from startups to multi-platinum artists.
ICYMI:
Takeshi Okada
David Gray was appointed U.K. managing director of Universal Music Publishing Group, succeeding Mike McCormack, who is stepping down from the role after almost nine years in charge to launch a new consultancy and joint venture with UMPG … and Warner Music Japan appointed longtime Universal Music executive Takeshi Okada as the label’s new president and CEO. [KEEP READING]
Last Week’s Turntable: Sphere Sheds CFO
Indie music giant Concord said on Friday it has acquired parts of the music publishing and recorded music catalog of reggaetón superstar Daddy Yankee.
The deal encompasses certain rights to Daddy Yankee songs including “Con Calma,” his rights as a featured artist on “Despacito” and “Gasolina,” whose “unforgettable hook” and “revolutionary” beat landed it in Billboard’s Top 50 Latin songs of all time. The deal also includes certain name, image and likeness rights, according to a press release from Concord.
Concord declined to comment on price. However, earlier this month in a KBRA report about Concord’s asset backed security, the bond rating agency wrote that Concord acquired the catalog of “a highly successful Latin Music artist and songwriter” in 2024 and that those works were valued at $217.3 million.
Trending on Billboard
How much does Daddy Yankee stand to benefit from the deal? The Latin hitmaker, whose Barrio Fino was the first reggaetón album to debut at No. 1 on Billboard’s Top Latin Albums chart in 2004, sold this portion of his catalog several years ago to a fund that asked not to be named. That fund sold the assets to Concord, so the artist will not get a cut of this sale of his works.
But Billboard reported in July that Daddy Yankee still owns part of his publishing catalog, which is administered worldwide by Sony Music Publishing and partly by Spirit Music in the United States. From 2021 to 2023, Daddy Yankee’s works averaged 375,333 album consumption units, with 346,000 album consumption units so far this year, according to Luminate.
CRAZY FOR CATALOGS
Catalogs are an important revenue driver for Concord, and the company’s CEO Bob Valentine said this week that through various marketing, distribution, film and commercial licensing agreements, the company regularly generates 5-15% more revenue from the assets it acquires than the prior owner.
“We can then create value for the artist, for our shareholders, for our debt holders, for our pension holders—all the people who are somehow invested in that effort,” Valentine said, speaking at the Mondo.NYC conference in Brooklyn. “The two things we talk about [with artists] is how are we going to protect your legacy and how are we going to make it live.”
Concord’s ownership — the Michigan State Retirement Systems own 93% — and how it has recently financed acquisitions, through asset backed securities, make it a uniquely long-term focused catalog acquirer that aims to hold these assets for 30-40 years.
The company also employs around 750 people worldwide, and it operates a label, music publishing division and one of the most significant theatrical companies with the catalogs of Rodgers & Hammerstein Theatricals, The Andrew Lloyd Webber Collection, and more.
However in some circles, Concord is better known for the 1.3 million songs it has acquired, including some of its biggest money-making assets like John Fogerty’s Credence Clearwater Revival publishing catalog and Phil Collins’ rights to Genesis songs.
Speaking at the Mondo.NYC conference, Concord described these works “as music and genres that fit so perfectly with an era that to own them … means you own that segment of someone’s nostalgia.” Anyone who ever makes a movie about the Vietnam War will likely call Concord to license CCR’s songs, Valentine says.
But Concord also owns the Latin label Fania Records and Mexican record label Musart Records, and several of the Latin artists it represents through its publishing division were nominated for Latin Grammy’s this year: Daymé Arocena’s nomination for Song of the Year for “A Fuego Lento,” writers Julian Bernal and Sammy Soso’s nomination for Best Pop Vocal Album for Orquídeas performed by Kali Uchis, and Camilo Lara’s nomination for Best Cumbia/Vallenato Album for Se Agradece performed by Los Ángeles Azules.
CALL HIM DADDY
Daddy Yankee’s catalog will be managed out of Concord’s recently expanded Miami office, the company said.
“Since he burst onto the scene, Daddy Yankee has been at the forefront of not only reggaeton, but pop music generally,” Valentine said in a statement. “We were incredibly excited by this opportunity to work alongside Daddy Yankee to continue building on his remarkable legacy and significance. His real and lasting cultural impact is clear, and Concord is thrilled to be a part of his story.”
Concord financed the acquisition of Daddy Yankee’s works by issuing a third round of asset backed security notes that were priced this week that bring its total ABS to $2.6 billion. Daddy Yankee’s catalog will be contributed to the ABS’s collateral pool, according to the KBRA report. Concord has used previous ABS notes to acquire Round Hill Music Royalty Fund in 2023 and Mojo Music and Media in 2022.
This type of financing makes sense for Concord because of its scale — which exceeds most banks’ normal financing abilities — and because it affords them a fixed, low interest rate.
“The benefit of an ABS market is we take out a loan and the interest rate is fixed for 5 years,” Valentine said. “It doesn’t change. Suddenly you’re financing with these fixed rates of return that are lower because of our scale and that changes the dynamic of the valuation pretty dramatically.”
This is part of a new column Billboard is launching in which we will unpack one financial issue a week for an artist in the news. Thanks for reading, and if you have suggestions or tips, email me at ediltsmarshall@billboard.com.