Business News
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British rapper Central Cee (“Doja,” “Sprinter”) signed with Wasserman Music for global representation. His agents are Brent Smith, Lauren Marker, Tom Schroeder and Jesse Fayne. The deal follows the rapper’s signing to Columbia Records and Sony Music U.K. in June.
Dominican rapper El Alfa (popularly known as “The King of Dembow”) signed an eight-figure deal with royalty-financing company Sound Royalties ahead of his forthcoming album, El Rey Del Dembow, as well as a multi-city tour slated for this fall. “This multi-million-dollar funding will be instrumental in continuing to build my legacy and cement my influence in the Latin music space,” said El Alfa in a statement. “Beyond that, it is foundational for promoting and marketing my music, launching new career opportunities, and releasing more work through my own music label, El Jefe Records.”
Singer-songwriter-producer-DJ Mayer Hawthorne signed with Las Vegas-based MAC Agency. Hawthorne recently announced a forthcoming tour as well as the release of his sixth studio album, For All Time, on Oct. 27. He made his MAC Agency debut at Vegas’ Park On Fremont last month. Hawthorne is managed by ATC Management and signed to P&L Records.
Independent record label Absolutely Kosher is relaunching after a 12-year absence with a slate of new releases and initiatives for the 25th anniversary of its founding. Releases announced at launch include new music from singer-songwriter-producer Charles Bissell — who released the album Meadowlands from his former band, the Wrens, on Absolutely Kosher in 2003 — now recording under the name Car Colors; as well as Sybris, the Chicago band that released its album Into the Trees on Absolutely Kosher in 2008. The reanimated label will also put out two previously-released albums on vinyl for the first time: Edinburgh School for the Death‘s New Youth Bible and Brabrabra‘s Mangooona. Absolutely Kosher has a global deal with Downtown Music Holdings’ FUGA for distribution.
Rock-pop outfit Hey Violet signed with Hopeless Records, which will release the group’s next single, “I Should Call My Friends,” on Friday (Oct. 13). Hey Violet was previously signed to Capitol Records.
PPL signed Afrobeats star Libianca, producer-songwriter-artist Lewis Thompson and British pianist Isata Kanneh-Mason for international royalty collections. PPL licenses recorded music when it gets played in public as well as on the radio or TV in the United Kingdom. It also collects neighboring rights royalties for performers and recording rightsholders when their music is played around the world through agreements with collective management organizations (CMOs) in other countries.
Hip-hop supergroup CZARFACE — comprised of Inspectah Deck, Esoteric and 7L — and its record label, Silver Age, signed a global deal with Virgin Music for the release of the group’s next studio album. The trio is managed by Dustin Winegardner.
Alt-pop singer BIZZY signed to Big Loud Rock, the alternative/rock imprint of Big Loud Records. The news was accompanied by her latest single, “I Don’t Get Breakups.” BIZZY is managed by Nicolette McCann at TWIST Music Group.
Big Loud Records also signed singer-songwriter Zandi Holup to its roster. Holup, who released the song “Gas Station Flowers” on Friday (Oct. 6), recently signed a publishing deal with Arthouse Entertainment and TurnTable Music in partnership with Universal Music Publishing. Her booking agents are Marissa Smith and Josh Garrett at UTA.
French psychedelic rock band SLIFT signed to Sub Pop, which will release the trio’s upcoming third album, ILION, on Jan. 19, 2024. The title track is now out on all digital service providers. SLIFT is managed by Hélène Maigné, who also handles the band’s booking in France, Belgium, the Netherlands, Luxembourg, Switzerland and North America. Beth Morton and Oliver Ward at UTA are responsible for bookings in the rest of the world.
Singer-songwriter Ivan Theva signed to Descendent Records/Sony Music Entertainment, which will release his debut album, GARDENS, on Oct. 27. Theva is represented by Steve Ford at SF3 Management and Kevin Castleman at Reliant Talent for booking.
New York-based pop singer-songwriter Angélica Garcia signed to Partisan Records. The deal was announced along with the release of two new tracks: “Y Grito” and “El Que.” Garcia is managed by Tim Vigon and Riley Moriarty at Three Six Zero, with Frank Riley at High Road handling booking. She was previously signed to Spacebomb.
Country music trio The Castellows — comprised of sisters Ellie, Powell and Lily — signed with Make Wake Artists for management and WME for booking. According to a press release, the group has built a following of more than 1 million across social media platforms after releasing several covers highlighting their vocal harmonies. At Make Wake, Chris Kappy will serve as manager while HB Riordan will handle day-to-day. At WME, the band’s representatives will include Nashville office co-head/partner Joey Lee and agents Kanan Vitolo and Kevin Falck.
Alt-rock band House Parties signed with Equal Vision Records, which will release its forthcoming single, “Braindead,” on Thursday (Oct. 12).
Shortly after Michael Cherman founded his apparel company, Market, in 2016, he designed and sold a tie-dyed T-shirt with the Grateful Dead’s dancing bears spiraling toward a center point. Spotting the trademarked image online, the Dead’s official merchandise company, Rhino Entertainment, contacted him and asked: “Would you like to do this more legit instead of bootlegging it?”
“Yes,” he responded, and today, the company’s streetwear products include a $200 Grateful Dead screen-printing kit and a $45 trucker hat with the lightning-skull Stealie Rose logo. “This has unlocked the world for me,” says Cherman, whose company sells clothing licensed from the estates of Bob Marley, Jimi Hendrix and others. “People just came to us and said, ‘Hey, how can you do that for us?’”
Since the Dead sold one of its earliest T-shirts in the late ’60s, featuring keyboardist Ron “Pigpen” McKernan and designed by Hell’s Angel Allan “Gut” Terk, its merchandise business has evolved into an international brand licensed to dozens of companies and sold in stores from Walmart to Saks Fifth Avenue. What Cherman calls the “holy trinity” of Dead logos — dancing bears, lightning bolts and skeletons — is on thousands of products. Online, fans can buy a pair of tie-dyed Crocs containing pink-and-yellow dancing-bear charms for $160; a $70 Teton hoodie designed for snowboarding; Grateful Dead leggings marked with “GD” and pink roses, $38; Grateful Dead fluorescent green Nike skateboarding shoes, $110; a psychedelic Air Garcia skateboard, $65; and a pair of Grateful Dead skis topped with the “Steal Your Face” skull logo, $750.
The band’s merch machine has also served as an exemplar of how an act can expand its brand into a multimillion-dollar business, raking in revenue years, and even decades, after the deaths of such core members as McKernan, Jerry Garcia and lyricist Robert Hunter.
Dead products are a sliver of the nearly $4.4 billion music merch licensing industry, as valued by trade organization Licensing International in 2022, an increase from $3.7 billion in 2019. Universal Music Group, which owns merch giant Bravado, earned $618 million from product in 2022, according to financial reports — a 70.2% increase from $363 million the previous year. Much of that revenue comes from traditional sales (T-shirts, hoodies and caps sold at concerts), and contemporary stars like Taylor Swift and BTS dominate the business. But classic-rock merch is booming, too.
“That universe has expanded,” says Rhino president Mark Pinkus, who oversees the Dead account. “The shirts are being worn by people of all ages.” Jeff Jampol, CEO of Jam Inc., which manages licenses for The Doors and the estates of Janis Joplin and others, adds that classic-rock merch has evolved from basic black T-shirts to a diverse fashion industry “largely driven by 10- to 20-year-old females and their moms.”
The rich and famous also boosted demand. In the late ’90s, Brad Beckerman, who worked with his father at the sports-licensing company Starter, noticed that most music merch came in the form of mass-marketed T-shirts and saw an opening. Beckerman’s company, Trunk, secured 76 licenses, including Madonna and The Beatles, and expanded the market to high-end customers and department stores. Trunk sold T-shirts, but also jackets and rhinestone belts, Japanese denim and Italian leather for prices that could approach $1,000. “It was unbelievable, the exposure we got,” he recalls. “We had hundreds of celebrities buying these things.”
Until the early 2000s, the Dead — whose members weren’t getting along at the time, according to their former longtime publicist, Dennis McNally — ran Dead Merchandising. Later, the band licensed its name and various logos to just a few companies, like Ripple Junction and Liquid Blue, and mostly focused on T-shirts. “It was easier to go their own ways and let somebody else deal with the business,” McNally says.
According to a source who works in the business, merch licenses are normally structured as a percentage of the licensee’s gross sales income. Smaller licensees typically pay 12% of gross revenue; national licensees, 4% to 5%; and for internet sales, where there is less overhead, it’s a few points higher.
In 2006, after the Warner Music Group-owned Rhino took over the Dead’s merch, Heather Lewis, vp of merchandising for Warner’s artist-branding division WMX, saw how well the band’s CDs and box sets, such as the dozens of Dick’s Picks live albums, were selling, and steered Rhino’s Dead team toward a similar strategy for merch. “Over the past decade, it has been about growing not just the merch but the creative aspect of the merch and working with Deadhead artists,” she says.
One of Rhino’s challenges is when to turn a blind eye to bootleggers — such as the Shakedown Street vendors who sell unlicensed products at spinoff concerts such as Dead & Company — and when to shut them down or, as with Cherman and Market, license their creations.
The Dead’s first line of merch gatekeeping is archivist David Lemieux and Pinkus, a Deadhead who recently flew to Boulder, Colo., to attend three Dead & Company shows. Their shared philosophy for licensing the band’s nine trademarks: “The Grateful Dead should be everywhere, for everybody, at all price points and in all styles,” Pinkus says. Accordingly, he and Lemieux are “easy to find and open to doing licensing deals.” They recently approved Dead-branded coolers, hammocks, camping equipment and polo shirts with embroidered lightning bolts where you might typically find a horse or alligator. They run every potential licensee proposal by the band members and the estates of those who’ve died, but they usually approve the decisions. (A representative for the band members said they declined to comment.)
“My impression is that Rhino tries to honor the Grateful Dead example, which was choosey, low-key, and generally it wasn’t to make money,” McNally says. “It’s like everything else about the world of the Grateful Dead. It just grew.”
The AI genie is out of the bottle. It’s not going back, so buckle in and get on board.
Artificial intelligence was a hot button topic as music professionals gathered in Singapore last month for the All That Matters conference to learn, meet, greet and get business done.
Music Matters is one of seven streams under the All That Matters banner. Singapore, the dynamic, constantly-evolving city state, once again hosted the event, its music component recognized as the most important of its kind in Asia.
At 18 years of age, ATM is all grown up. This time, almost 2,000 attendees gathered from across the music, sports, gaming, media and entertainment industries, its conclusion the starting point for the Singapore Formula 1 Grand Prix.
Guest speakers at the Sept. 11-13 confab included Jonathan Dworkin, Universal Music Group’s executive VP, digital business development & strategy; Troy Carter, CEO and founder Venice Music; Hazel Savage, VP music intelligence, SoundCloud; Meng Ru Kuok, CEO & co-founder of BandLab; Denis Ladegaillerie, founder & CEO of Believe; Spotify’s Kossy Ng (head of music, Asia) and Joe Hadley (global head of artists and audience partnerships); and Pieter van Rijn, president Downtown Music.
Billboard selected five notable takeaways from this year’s program:
Glocalisation is the way forward
Glocalisation is more than a buzzword. It’s a growing, measurable business as more local language music gains traction on DSPs. Building a business to support that doesn’t happen by accident. “At some point you have a certain ambition,” explained Pieter van Rijn, president Downtown Music, during a day one presentation. “It’s very important for us to be close to our clients,” noted the New York-based Dutchman, whose company has label services staff across the region, including South Korea, Philippines and Japan and elsewhere. Glocalisation is “to think local but act global, the success that we’re seeing there is a trend of local artist having local success and not just English language content driving the charts. You can see that in many countries, it’s another great symptom of how the industry has evolved itself.”
Luminate’s Music 360 research reinforces it, with data showing that 40% of U.S. listeners were found to tune-into music in a non-English language in the second quarter of 2023. At the same time, the share of English-language content is down.
Peter van Rijn photographed on October 19, 2022 at Downtown Music in New York City.
Wesley Mann
Moving forward with AI, and a plan
Believe this year celebrates its 10th anniversary in APAC, a business that started in Indonesia, was built from the ground up, and now represents over 10,000 labels and artist. Some €700 million has been generated in revenue to labels and artists in that decade. Believe is a big believer on Glocalisation, and its future includes the adoption of AI.
“It’s going to come very quickly,” explained Believe CEO Denis Ladegaillerie, during a day-three morning session which also included Sylvain Delange, Believe managing director for APAC. “We expect some products to come into the market very soon, in the next three to six months.” The response needs to be a responsible one. That includes Believe’s own set of principles, drawn up with YouTube, around the four pillars of consent, control, compensation and transparency. A new survey by Believe and TuneCore of 1,558 found that 50% of musicians are willing to make their music available for machine learning while also believing in a responsible approach.
Believe founder and CEO Denis Ladegaillerie
Anis Martin
Streaming fraud is a $500 million problem. At least
For artists, cutting through the noise in the streaming world is a major challenge, and it’s not getting any easier. In the U.S., streams have grown 400% over the last four years, UMG’s Dworkin explained during his keynote presentation, while at the same time, on-platform new music discovery has fallen by 45% (with on-platform music discovery representing just 15% of how fans discover music). If you think that’s bad, streaming fraud takes the cake. Fraud, at the low end of estimations, is a $500 million problem.
“And it could be triple that,” he says. “Security should be a basic matter of hygiene for platforms and for distributors.” Music and artists that connect with consumers should be rewarded in the streaming game. “If a piece of content is riding along on a platform and not connecting with consumers, it will simply be downgraded,” he says, citing Deezer’s novel formulation. “We at Universal are ready for everyone to be held to the same standard. Including us. Let us all compete on the basis of the value created for fans. And not by counting streams as they sleep.“ It’s time to “change the model so the business can be more resilient for the next stage of growth.” He concludes, “there’s a lot more work to do, and the solutions are going to continue to evolve.”
Robbie Williams is coming to entertain you
Thanks to Rocketman and Bohemian Rhapsody, rockumentaries have been a box office boom in recent years. Robbie Williams sings when he’s winning, and he might be singing a lot in the near future with his very own projects.
Before Williams’ headline performance at the F1 Grand Prix, the Brit’s manager Stephen O’Reilly, managing director at ie: ventures and a director of ie: music, sat for a chat about Robbie’s busy schedule.
The former Take That star is the subject of a four-part documentary series, set to air from early November on Netflix. Robbie Williams is a project of Ridley Scott Associates and director Joe Pearlman (Lewis Capaldi: How I’m Feeling Now) and executive produced by Asif Kapadia (Amy). Also, filming is completed on the previously-announced Better Man, which should arrive at cinemas next year.
The context was to “go out of our comfort zones to do things we’ve never done before,” say O’Reilly of Better Man, which has been described as a satirical musical based on the singer’s own life. It’s helmed by Australian filmmaker Michael Gracy whose debut film The Greatest Showman grossed more than $425 million worldwide. New Zealand’s Weta Digital is creating the visual effects for what O’Reilly describes as a “groundbreaking” film, which opens up a new “world of immersive entertainment, with great music and great story.” Robbie’s solo career is now 25 years deep, and has taken him to the very top of the tree in the U.K. (where he has 14 solo No. 1 albums), Europe and Australia. The U.S., however, has stubbornly resisted his cheeky-chappy charms. Will the new projects change that? Wait and see.
Robbie Williams performs at Hits Radio Live 2019 at Manchester Arena on Nov. 17, 2019 in Manchester, England.
Carla Speight/Getty Images for Bauer Media
Russell Simmons talks Hip-Hop, Drugs and Donald Trump
Russell Simmons had the last word at All That Matters, with a free-flowing final session which covered all the topics you’d hoped for, and some you didn’t expect. The Def Jam co-founder regaled with tales on Will Smith, the 50-year history of hip-hop, the epicenter of art that was, and still is, New York City, Run-DMC, drugs and Donald Trump. Simmons and Trump used to hang in the 1990s and they traveled the world together. “I don’t dislike Donald,” he remarked. “We had a lot in common, a lot we didn’t have in common. We laughed about a lot of s—.” Becoming the POTUS, well that’s another thing. “When he became president,” he remarked, “it was obviously not a good thing for America.”
Earlier this year, the Singapore subsidiary of Nodwin acquired a 51% stake in Branded, bringing the confab and showcase event into the Nodwin Gaming family.
Live Nation, Sphere Entertainment Co. and CTS Eventim were the top three music stocks this week amidst news that consumers continue to spend despite nagging inflation and a resumption of U.S. student loan payments for millions of borrowers. Live Nation shares rose 6% to $88.00, narrowly beating Sphere Entertainment’s 5.9% gain to $39.35. German promoter and ticketing company CTS Eventim jumped 4.7% to 56.40 euros ($59.79).
Despite some economic warning signs, consumers continue to spend on experiences such as concerts, travel and luxury goods. Americans spent 5.8% more in August than in the prior-year period, according to the National Retail Federation. Many consumers are now facing the resumption of monthly student loan payments after a long grace period caused by the COVID-19 pandemic — it was one factor in retail giant Target cutting its profit forecasts in August. Gas prices are on the rise in much of the United States. Still, concert ticket sales are booming and airlines reported strong revenue this summer. More encouraging news came from Friday’s U.S. jobs report from the Bureau of Labor Statistics: Non-farm employment rose by 336,000 and the unemployment rate was unchanged at 3.8%.
It was a big week for Sphere Entertainment as its shares climbed 11.1% on Monday following U2’s opening weekend at Sphere in Las Vegas. The rave reviews and mind-blowing videos pushed Sphere Entertainment’s stock price as high as $43.59, up 17.3%, before falling 5% to $39.23 at the end of the trading day. Sphere Entertainment didn’t maintain the momentum, however, and dropped 5% from Tuesday to Friday. Still, Sphere’s opening provided a boost to the company and validated Sphere Entertainment CEO James Dolan’s vision to create a new category of venue built specifically for music. Now, investors will likely consider how many other artists have the necessarily large and fervent fan bases to book Sphere residencies and build productions worthy of Dolan’s $2.3 billion gamble.
The 21-stock Billboard Global Music Index improved 2.1% to 1,373.62 as 12 stocks finished the week in positive territory. The index’s four live music companies had an average gain of 4.3%. Six streaming companies had an average gain of 1.6% while eight companies in recorded music and publishing dropped an average of 0.9% and three radio companies fell an average of 7.6%.
Music outperformed many indexes as stocks had a mixed week. In the United States, the S&P 500 improved 0.8% and the tech-heavy Nasdaq composite improved 1.8%. In the United Kingdom, the FTSE 100 fell 1.5%. South Korea’s KOSPI composite index fell 2.3%.
Another of the index’s more prominent components, Warner Music Group (WMG), rose 4.5% to $32.80, the fourth-largest gain of the week. WMG closed its year-to-date deficit to 6.3% after gaining 2.8% on Friday and pushing its market capitalization to nearly $17 billion. Universal Music Group improved less than 0.1%. Two K-pop companies, HYBE and SM Entertainment, fell 3.8% and 1.9%, respectively.
Spotify, a major player on the index with a $31.3 billion market capitalization, improved 3.5% to $160.07 and took its year-to-date gain to 102.7%. Spotify announced on Wednesday that it’s giving subscribers in the United Kingdom and Australia up to 15 hours of audiobook streaming time per month; the allotment will roll out to U.S. subscribers later this year. Audiobooks are an integral part of Spotify’s plans to become a one-stop audio destination. The news wasn’t cause for concern that Spotify will incur a previously undisclosed expense from this streaming allotment. Guggenheim analysts wrote in a report on Tuesday that they don’t expect audiobook streaming to add to expenses and that Spotify likely built those costs into its latest guidance (which is 26% gross margin and a $45 million operating loss in the third quarter).
Three radio companies were among the four worst-performing music stocks of the week. iHeartMedia shares fell 14.2% to $2.71, bringing the year-to-date loss to 55.8%. Cumulus Media shares dropped 4.5% and SiriusXM shares fell 4.0%. The other notable decline of the week came from Hipgnosis Songs Fund, which fell a further 7.1% to 0.745 GBP ($0.91) in the wake of its Sept. 14 announcement that it will sell $465 million in catalog assets to help lift its struggling share price.
For as much as has been said and written about Taylor Swift in recent years, there’s a chance people have been underestimating the 33-year-old musician’s unique place in the business world.
Swift’s prowess as a recording artist and songwriter is well known. As the most popular artist in the United States across several consumption metrics, she has 11.7 million equivalent album units this year through Sept. 21 — about 70% more than the No. 2 artist, Morgan Wallen, according to Luminate. (EAUs convert streams and track sales into album units.) Swift also has the highest album sales, physical album sales, digital album sales, digital track sales, on-demand audio streams and airplay spins so far in 2023.
But in recent weeks, Swift’s status as super-celebrity became more apparent when she single-handedly brought a legion of young females into the professional football fold. Her attendance at two Kansas City Chiefs games, her undefined relationship with Chiefs player Travis Kelce and frequent pictures of her watching and celebrating from a luxury box above the playing field have done for the NFL what no amount of corporate-led marketing has been able to achieve. TV ratings for the Oct. 1 game between the Chiefs and New York Jets averaged 27 million viewers, the second-highest number for Sunday Night Football this season. More impressively, viewing among girls 12 to 17 was 53% higher than the season’s first three Sunday Night Football broadcasts. Women 18 to 24 were up 24%. Women over 35 were up 34%.
The Taylor Swift Effect created large ripples beyond TV ratings. Sales of Kelce’s Kansas City jersey spiked nearly 400% in the days following the Sept. 24 game Swift attended against the Chicago Bears. Secondary market prices for tickets to the Chiefs’ Oct. 1 game in New Jersey against the New York Jets rose 43%. U.S. Google searches for Travis Kelce jumped more than 14 times from Sept. 23 to Sept. 25 and remain more than three times greater than search traffic before the Sept. 24th game, according to Google Trends. Search traffic for the Kansas City Chiefs rose 13-fold over that three-day span.
That ability to cross over to older generations separates Swift from other Gen Z idols. “She’s the equivalent of a four-quadrant movie,” says Brad Gelfond, a former brand partnership executive at Warner Records. That’s a Hollywood term for a movie with broad appeal that attracts four demographic “quadrants” of an audience: females under 25, males under 25, females over 25 and males over 25. Swift’s place in mainstream pop culture reached a new level in 2022 when demand for tickets to The Eras Tour pre-sale effectively broke Ticketmaster’s platform. That led to a Senate hearing on Jan. 24, during which lawmakers such as 63-year-old Amy Klobuchar (D-MN) and 77-year-old Richard Blumenthal (D-CT) quoted her song lyrics, as well as a plethora of proposed Swift-themed legislation that followed.
Few artists have a similarly broad-reaching appeal. One current artist with cross-generational pull is Beyoncé, but even that comparison is limited, says Ash Stahl, CEO of Flighthouse Media, a digital media producer targeting Gen Z. While Beyoncé is pop royalty, Swift is more relatable. “I would never expect to see Beyonce on screen at an NFL game chest bumping the guy next to her,” she says. That kind of appeal is rare in Hollywood, too. “She’s up there with The Rock,” says Gelfond. That would be Dwayne Johnson, the professional wrestler-turned-actor who transformed from reliable box office draw to media mini-mogul. Johnson is co-owner of a film and TV company, Seven Bucks Productions (Skyscraper, Jungle Cruise, Fast and Furious Presents: Hobbs & Shaw), as well as co-owner of the XFL professional football league.
Among Gen Z, Swift has a sway and longevity that surpasses social media stars popular with the demographic. TikTok star Charli D’Amelio comes close, but her popularity was short-lived, says Stahl. Meanwhile, Vine and YouTube star David Dobrik “didn’t keep his hands clean,” his career tarnished following multiple accusations of sexual assault, bullying, professional negligence and cultural insensitivity against him and his collaborators. Being brand-safe is an important factor in keeping and attracting fans.
YouTuber Mr. Beast is popular among young men but lacks a female fan base, adds Stahl. “‘Mr. Beast, hold my beer,’ said Taylor Swift,” jokes Marcie Allen of MAC Consulting, who has decades of experience working with artists and brands. Aside from attracting fans from different generations, what separates Swift from Gen Z’s online stars is her ability to sell out stadiums. While live-streamer Kai Cenat is facing charges of inciting a riot in New York with a PlayStation 5 giveaway gone awry, Swift’s current tour could surpass $1 billion in ticket sales. What’s more, Swift’s tour could generate $4.6 billion in economic impact for local economies, according to research company QuestionPro. Swift versus these other Gen Z celebrities simply isn’t a close comparison.
With unrivaled popularity and cultural cachet, one must wonder what Swift is doing — or could possibly do — between album and tour cycles. “She’s positioned to be the Reese Witherspoon of music,” says Allen. Witherspoon, an actress known for such movies as Legally Blonde and Walk the Line, founded a production company, Hello Sunshine, in 2016, to give females a greater voice in Hollywood. Hello Sunshine’s predecessor, Pacific Standard, produced the film Gone Girl as well as Wild, in which Witherspoon played the starring role. It wasn’t long before the smart money caught on to Witherspoon’s desire to build a female-first media company. Candle Media, backed by investment titan Blackstone and co-founded by two former Disney executives, acquired a stake in Hello Sunshine for $900 million in 2021.
Could Swift follow Witherspoon and Johnson into building a media fortune? A clue comes from growing demand for the Taylor Swift: The Eras Tour movie. Set to open Oct. 13, it has advance ticket sales of $100 million a week before debuting in more than 8,500 theaters worldwide and is expected to top the U.S. box office. Swift is a producer of the Sam Wrench-directed film and cut a direct deal with AMC to distribute it.
Swift may be outgrowing the typical ways an artist makes money — touring, recording, writing songs, promoting products and the like. And she has proven to have a clear head for business, perhaps most notably by re-recording her Big Machine-era catalog while withholding synch opportunities for the recordings sold to Ithaca Holdings in 2019 and then to Shamrock Holdings in 2020. The move has earned her tens of millions of dollars, if not more, while padding the release schedule between new albums with fresh batches of songs and creating new moments built off the nostalgia and goodwill she’s built up. It’s all evidence that Swift doesn’t mind taking risks if she’ll reap the rewards and that she has enough brand loyalty to pull off something big. “Taylor is so far past doing a brand partnership deal,” says Allen. “She can build her own brand.”
If it’s Friday that means another spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across the music industry.
Warner Music Finland‘s front office is getting a new look. Managing director Niko Nordström and head of A&R Asko Kallonen, who arrived at WMF in 2007 after Warner Music acquired their Helsinski Music Company label, are both headed for the ovi. Taking over later this year in the MD role will be current general manager Ramona Forsström, who has clocked 15-plus years at the imprint. In Kallonen’s old office in the A&R department will be veteran producer Jukka Immonen, who starts on New Year’s Day and brings with him the artist roster of his Fried Music label (which WMG has additionally acquired via undisclosed terms). Kallonen, meanwhile, will continue to serve as an A&R consultant for Immonen and his team after he passes the mic. The Warner Music Finland roster includes Antti Tuisku, Arttu Wiskari, BEHM, Ellinoora, Kaija Koo and SANNI, among others. Immonen will report to Forsström, who will report to Warner Music Nordics president Mark Fry. Calling Forsström a “huge talent whose counsel I value and who delivers time and again for our artists and our business,” Fry added that “her fresh leadership perspective will help us grow our roster and our artists’ careers.”
SoundExchange appointed Peter Karafotas as senior vp of government relations and public policy. Based in Washington, D.C., he will report directly to the organization’s president and CEO Michael Huppe. Karafotas arrives from Capitol Hill, where he recently served as chief of staff to Rep. David N. Cicilline (D-RI) until his resignation earlier this year to run a nonprofit. In his new role, Karafotas will lead on global public policy issues affecting music creators. He replaces Linda Bloss-Baum, who left over the summer for a full-time teaching gig at American University. Said Huppe: “I am thrilled to have someone with Peter’s expertise at the helm of our Government Relations & Public Policy department at a time when SoundExchange is amplifying our legislative efforts to ensure creators are paid fairly.”
Evan Bogart‘s music rights, label and publishing company Seeker Music hired Dan Stuart as general counsel. Stuart previously completed a five-year run as senior vp of business affairs at AWAL, during which AWAL’s U.S. clientele enjoyed significant growth and AWAL was acquired by Sony Music. Prior to that, Stuart worked for five years as a partner at King, Holmes, Paterno & Soriano, and worked for 15 years as an attorney at Manatt, Phelps & Phillips. Stuart’s career also includes time well spent as a music journalist, a DJ-in-residence, and in radio. “What I’ve known about Dan since the day I met him” about 20 years ago “is how smart, dedicated, passionate, authentic, and well-respected he is,” said Bogart. “He is one of the best in the business, and in my view it’s because he’s not just a lawyer, he’s an OG music guy who really cares about music and music creators.” –Jessica Nicholson
Kobalt promoted Kat Basolo to senior vp of creative synch. The Los Angeles-based exec was most recently vp of creative synch and in the past year helped score a number synch opportunities for Kobalt artists with several major brands, TV shows and films. Prior to joining Kobalt in 2014, she worked at Sony Music Entertainment for 10 years. Global head of synch Rob Christensen credited Basolo with “procuring thousands of synch opportunities” for clients during her tenure. “But more than any stat,” he added, “she has excellent relationships with so many of the world’s top music supervisors because she works hard to understand their needs and then delivers time and time again.”
Dreamcatcher vp of promotion Jim Dandy announced his departure from the company for a new opportunity at New Revolution Entertainment . Following the recent departures of national director of promotion Kellie LaJack, West Coast regional Rick Young, Midwest regional Charlie Dean and promotion manager Annie Brooks, the label is operating without a promotion staff. Dreamcatcher partner Jim Mazza said the situation is temporary, explaining that the promotion team is independently contracted and was let go with no current singles at radio. The label intends to re-form a promotion staff when its lone artist, Tenille Arts, releases her next single in early 2024. Under the circumstances, Mitch Rosell, who signed with the label in August, asked for — and received — his release from his contract. –Tom Roland
Amanda Rae Kopp is promoted to chief product officer at JKBX, a start-up offering investors fractional shares in hit songs. Kopp will be responsible for refining product strategies and driving innovation at the emerging platform. Prior to JKBX, which officially launched Sept. 12, Kopp was a global product leader at Warner Music Group.
Fantasy Records appointed Lindsay Brandt as vp of marketing and creative. In the newly-created position, Brandt will serve as in-house creative director and head of marketing, focusing on content development and digital strategy. Previously, Brandt served as senior director of creative & digital at Activist Artists Management, working with artists including The Lumineers and Bob Weir. Brandt said in a statement, “My vinyl collection boasts numerous albums with the iconic Fantasy Records logo. I’m humbled to join a team that holds music in such high regard and delighted to tell the story of these profound artists.” –JN
FlyteVu, the full-service marketing agency founded in 2015 by former Warner Music Nashville senior vp Jeremy Holley and ex-CAA agent Laura Hutfless, made several promotions and hires of late. Sina Seger, on staff since 2017, is the firm’s very first general manager — and will oversee day-to-day operations. Elsewhere, Nicole Ranieri has been promoted from account director to head of accounts, and industry veteran Ally Venable joins the team as head of talent. Venable joins from Mandolin Entertainment, a boutique artist and brand management firm. In the past 12 months, FlyteVu has launched two new sister agencies: FV Incubator, handling marketing for start-ups, and FV3, focused on brands and Web3. “Over the past eight years, FlyteVu has built a solid reputation for innovation, excellence, and generosity in the industry,” said Hutfless. “Sina and our Leadership Team have played instrumental roles in our growth and success. We are thrilled to enter FlyteVu’s next chapter as we continue to innovate, disrupt and propel our clients forward.”
Shore Fire Media elevated Haley Griffin and Henry Thomas to junior account executives. Both joined the leading PR firm a mere year ago as interns and were promoted to publicity assistants late in the year. Griffin is a Berklee College of Music graduate, while Thomas is a Skidmore College grad. “In just over a year, Haley and Henry have displayed their talent, commitment, and growth,” said senior vp Rebecca Shapiro. “We’re excited to recognize their contributions and confident that they will shine in their new roles.”
Kobalt promoted Kat Basolo to senior vp of creative synch. The Los Angeles-based exec was most recently vp of creative synch and in the past year helped score a number synch opportunities for Kobalt artists with several major brands, TV shows and films. Prior to joining Kobalt in 2014, she worked at Sony Music Entertainment for 10 years. Global head of synch Rob Christensen credited Basolo with “procuring thousands of synch opportunities” for clients during her tenure. “But more than any stat,” he added, “she has excellent relationships with so many of the world’s top music supervisors because she works hard to understand their needs and then delivers time and time again.”
ICYMI: Warner Music‘s chief digital officer Oana Ruxandra announced she’s leaving the label … Anthem made it official with Jason Klein and Sal Fazzari … and Kenny MacPherson was placed on leave from his job at Hipgnosis Songs Fund, following the filing of a lawsuit claiming he sexually assaulted a staffer in 2005 while he ran another company.
Melanie Johnson is named chief commercial officer at Audoo, the music tech company looking to shake up the royalty reporting system for musicians. Based in London and reporting to CEO Ryan Edwards, Johnson is tasked with overseeing the continued global expansion of the company’s proprietary platform Audoo Audio Meter. She arrives with a packed CV that includes lengthy tenures at Facebook, Sony Music Publishing and EMI Music Publishing. Most recently, Johnson served as vp of partnerships at Utopia Music. “Mel’s stellar professional and personal reputation precedes her,” Edwards correctly notes. “Adding her expertise to Audoo as we mark a milestone five years in business, we move closer to our goal of being the partner of choice for PROs and CMOs, and continue on the mission of revolutionising the public performance royalties space worldwide.”
Reactional Music, the maker of an interactive music engine for video games, hired Spotify veteran Jacob Deshayes as chief operating officer. In his new role, Deshayes will oversee Reactional’s platform and manage partnerships, technical programs and strategy. “In joining Reactional Music I am thrilled to have the opportunity to apply my experience on three of my foremost passions – music, tech and video games – as we unlock groundbreaking tools for a new innovative form of music creation, as well as ways for the world of gamers to personalize their musical experience,” he said. Additionally, Reactional selected one of its founders, former Take Two Interactive CEO Kelly Sumner, as board chairman.
Croshal Entertainment Group, the artist management and label service firm founded by longtime Sony Music and Maverick executive Fred Croshal, made a pair of key promotions. Jimmy Brunetti, previously vp of label services, has been elevated to executive vp of business development and project management. Kirbie Croshal, most recently director of social media and project management, is now senior vp of marketing and digital strategies. Brunetti and Croshal have logged 15 and 17 years at CEG, respectively.
Last Week’s Turntable: Glass Ceiling Breaker Departed Sony
Beatport has announced the recipients of its second annual diversity and parity grants. Awards totaling $150,000 will be given to the organizations Change the Beat, Last Night a DJ Saved My Life, ONE OFF TRAKS, Other Village People, Saffron and We Are Moving the Needle.
Last Night a DJ Saved My Life works to empower young people from around the world via fundraising initiatives for grassroots projects. The organization will use the money to teach DJing and production to 32 young women over eight weeks in Leeds, U.K.
ONE OFF TRAKS, an Australian writing camp collaboration and platform for women, trans and non-binary artists, will use its grant to host and expand the writing camp in 2024.
Based in South Africa, Other Village People powers three queer-centered platforms. The organization will use its grant for its newest initiative Queertopia, a three-day festival celebrating South African contemporary queer nightlife culture and movements.
The U.K.’s Saffron works to foster equality in music tech by creating safe and inclusive spaces for people underrepresented in the space. The organization will use its grant to work with 20 Black creatives in the U.K. in endeavors such as community building, knowledge sharing and other educational opportunities.
We Are Moving the Need, based in the States, works to evolve the recording industry with the focus of gender equity and inclusivity. The platform will use its grant on its touring CTRL symposium, which aims to build community and evolve the recording industry via events in Los Angeles, Nashville and New York.
The fund, now in its second year, is awarding two kinds of grants: one that awards amounts between $3,000 to $15,000 to smaller organizations consisting of one to three staff members, and one awarding amounts between $15,001 and $30,000 to organizations with more than four staff members.
“The electronic music community is filled with vibrant groups of creative people who want to make our industry and world better,” Sofia Ilyas, Chief Community Officer of The Beatport Group, says in a statement. “The recipients of our second annual Diversity + Parity Fund exemplify the spirit of positive change, and it is our hope that their endeavors will resonate in powerful ways across our industry.”
Two groups of artist managers have come together to form The Circuit Group, a new entity that will create business opportunities around artists’ intellectual property. Founded by Dean and Jessica Wilson of Seven20 — whose clients include deadmau5 — along with Brett Fischer, David Gray and Harvey Tadman of AYITA — clients include Chris Lake […]
Multimedia Music has acquired the entire film and TV music catalog of composer Christopher Lennertz, known for his work on films including Horrible Bosses, Alvin and the Chipmunks, Sausage Party, Bad Moms and Baywatch and TV shows including The Boys, Lost in Space and Supernatural.
Lennertz is a multiple Emmy nominee and 20-time BMI Awards honoree who was recently named a BMI Icon at the organization’s 2023 Film, TV & Visual Media Awards in May.
“We are huge fans of Chris Lennertz’s work, he has created fantastic scores for so many successful films and TV series,” said Multimedia Music partner James Gibb in a statement. “We’re delighted to add his body of work to our catalog of wonderful film music by some of the best composers in the business.”
“When looking for the ideal place to entrust Christopher’s catalogue, we turned to Multimedia Music based on their great reputation and their great people,” added Lennertz’s agent, Richard Kraft of Kraft-Engel Management.
The deal is just the latest for Multimedia Music, led by Gibb and Phil Hope, which claims it’s spent a total of $150 million on acquisitions since it launched in late 2021. Previous deals include purchasing a 50% stake in a catalog of music publishing and master rights from the film music library of Amblin partners; the STX music library of master and publishing rights; the catalog of composer James Newton Howard; and the master and publishing rights to a 48-title film score catalog from Atlantic Screen Music.
Canada-based audio group Lenbrook acquired the assets of U.K. music technology company MQA nearly six months after MQA lost its founding financial backer and filed for administration. The purchase adds several patents as well as two audio codecs — MQA and SCL6 — to Lenbrook’s intellectual property portfolio. “We view this acquisition as an opportunity to ensure the technologies developed by the scientists and engineers at MQA continue to serve the industry’s interests rather than be confined to any single brand or company,” said Lenbrook CEO Gordon Simmonds in a statement. Lenbrook has retained a core group of MQA engineers and developers as well as sales and marketing staff including Andy Dowell, formerly the head of licensing at MQA, who will continue leading business development activities. A press release states that “MQA had amassed over 120 licensees [including Lenbrook] and several content partnerships, so Lenbrook’s primary objective in this acquisition was to provide certainty for business and technical developments that were underway prior to MQA’s administration.”
Universal Music Middle East & North Africa (MENA) partnered with Cairo-based Harb Talent Management on a deal that will see the two companies work together on talent discovery, development, music production, marketing and promo, live events and brand partnerships in Egypt. Under the agreement, Universal Music MENA announced three signings to its roster: Egyptian hip-hop artists Ahmed Santa, Slyver and Abu El Anwar. All three are expected to release music later this year and next.
Vassal Benford, CEO/chairman of the B.B. King estate, the B.B. King music company and the family trust, announced the launch of the B.B. King Life Legacy Initiative, which will encompass several new partnerships, retail products and brand concepts. The first project announced is a partnership with Heritage Distilling for an exclusive line of King-branded spirits. Also forthcoming are a new music project that will feature artists including Quavo, Jason Derulo and Swae Lee; a King theatrical biopic; a King documentary featuring a new single from Quavo; and a 24-hour B.B. King blues network.
Create Music Group struck a partnership with Black Lion, a music technology company behind a valuation engine that analyzes the performance and value of song catalogs to reduce the amount of time music companies spend evaluating potential acquisitions and signings. “This strategic partnership will significantly expand our ability to identify, research and make deals with rights holders all around the world,” said Create Music Group co-founder/chief business operator Wayne Hampton in a statement. “Black Lion’s cutting-edge technology will streamline our deal making process and enable us to generate increased revenue for Create and for all of our partners.”
India-based record label Saregama India acquired a 51.8% stake in youth-focused Indian digital content creator and publisher Pocket Aces, “with a clear path” to acquire an additional 41% in the next 15 months, according to a press release. “This acquisition will further strengthen Saregama’s strategic ambition to take [a] leadership position in New Music across all Indian languages,” the release continues. Pocket Aces boasts an intellectual property catalog of more than 3,000 pieces of content including web series and music videos on its channels — FilterCopy, Nutshell and Gobble — as well as a talent management arm with a roster of more than 100 digital influencers and a long-form studio called Dice Media. The release claims Pocket Aces has more than 95 million followers, “which Saregama will leverage to further popularize its music library among the 18-35 audience segment. It will also create synergies across the artiste & influencer management and long-format video creation businesses of the two companies.”
Every Thursday, labels deliver all their new releases to TikTok. This is typically a mundane process, but an essential one. Just as record companies want their new tracks playable on all the streaming services at midnight, they want them on TikTok — a crucial promotional venue and driver of music discovery, especially for younger listeners.
But on Sept. 22, things began to go wrong with what’s ordinarily a relatively seamless operation. Five executives — all affiliated with Sony Music or managers with artists in the Sony Music ecosystem — told Billboard that they encountered problems getting their music on TikTok. The issues varied, as did their duration: Some songs’ delivery was temporarily delayed; some never made it; some temporarily faced copyright takedowns even though they were legitimate major-label releases that didn’t infringe on the works of others.
Two sources were told by Sony Music that even Bad Bunny‘s new single “Un Preview” — distributed by The Orchard, which Sony owns — was initially available on all streaming services when it came out Sept. 25, but not on TikTok. (A rep for Bad Bunny did not respond to a request for comment.) It does not appear that the other major label groups experienced similar problems.
While TikTok is renowned for its technical abilities, especially its algorithm, no platform is impervious to mistakes; perhaps someone accidentally pressed the wrong button at headquarters. Funny as that sounds, a version of it has happened before: Back in 2019, major labels suddenly encountered problems delivering songs containing swear words to TikTok. When asked about the platform’s unexpected turn towards the puritanical, a representative said that “due to an internal error, we inadvertently restricted explicit tracks from TikTok globally.”
But last week’s hiccups on TikTok arose against a different backdrop. Sony Music was in the process of negotiating a new deal with the ByteDance-owned company, according to multiple sources. And Sony Music executives told at least two people that they believed sudden problems with getting music onto TikTok were linked to the ongoing negotiations.
Reps for both Sony Music and TikTok declined to comment.
This bizarre episode served as a discomfiting reminder of both TikTok’s power and the music industry’s uneasy relationship with the platform. TikTok often seems like it’s the only service capable of jumpstarting a hit — “the biggest game in town,” as one manager told Billboard last year. That means a label’s music has to be on there if it hopes for commercial success.
But TikTok is also notorious for its low payouts to rights holders. And this has created tension, leading some of music’s most powerful figures to demand better rates from the platform in public remarks.
In September 2022, Universal Music Group CEO Lucian Grainge warned of a value gap “forming fast in the new iterations of short-form video.” “We will fight and determine how our artists get paid and when they get paid in the same way that we have done throughout the industry for many, many, many years,” Grainge added during a call with investors the following month.
Sony Music Group Chairman Rob Stringer echoed this sentiment during a call with investors in May. “Some of the short-form video providers are relatively new, but we are clearly monitoring their progress, and it doesn’t take a scientist to realize that we are being underpaid by some of those content providers,” he said. “As [our] negotiations go on, that will be our position until we are satisfied that we have been paid properly.”
Warner Music Group CEO Robert Kyncl has been more measured in his public comments about TikTok. Warner announced a new multi-year licensing deal with TikTok this summer.
Nearly four years ago, when TikTok said it “inadvertently restricted explicit tracks,” the problem took a number of weeks to resolve. Labels first noticed that songs containing swears were having trouble at the end of August. It was October before a TikTok rep said the company was “finally able to notify labels of the full restoration of affected tracks.”
The various issues experienced by Sony Music affiliates in September were fixed far more quickly. No one was TikTok-less for even a full week.
Still, an executive says, the experience was unnerving — a reminder that his artists’ access to a platform with more than a billion monthly active users “can be cut off overnight.”