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KAI Media, a company that focuses on physical K-pop music and fan events in brick-and-mortar locations, raised $3 million from existing investor CRIT Ventures to fund expansion beyond its Los Angeles base. The company, which operates under the name hello82, had previously raised $5 million from CRIT Ventures, Kakao Entertainment, Snow Corp. and other investors. […]

Spotify will increase prices in five markets later this month and do the same in the U.S. later this year, Bloomberg reports. Spotify previously raised the price of premium individual plan by $1 in North and South America, Europe, and Asia last year.
The initial round of new price hikes — $1 a month for individuals, $2 a month for duos and families — will hit the U.K., Australia, and Pakistan, among others, according to Bloomberg. 

A rep for Spotify declined to comment.

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In recent years, music rightsholders have regularly been calling for streaming services to raise prices. Appearing at a Morgan Stanley conference last year, Warner Music Group Robert Kyncl noted that the price of individual streaming subscription plans continued to lag behind inflation.

“We are the lowest (cost) form of entertainment,” Kyncl said of music. “We have the highest …engagement, highest form of affinity and lowest per hour price. That doesn’t seem right. It should change in an orderly fashion.” 

Last year, Barclays estimated that a 10% price increase by all music subscription services would increase Universal Music Group’s revenue by $430 million and Warner Music Group’s revenue by $256 million. 

Spotify moved to raise prices — $10.99 a month for individuals, $16.99 a month for families — in July of 2023. “The market landscape has continued to evolve since we launched,” the company wrote in a blog post. “So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.”

Bloomberg also reported on Wednesday (April 3) that Spotify plans to introduce a new payment tier: $11 a month for individuals who only want access to music and podcasts. Those users will have to pay separately for audiobooks.  

Spotify turned a profit in the third quarter of 2023, its first in a year. The company posted an operating loss of €75 million (around $80 million) in the fourth quarter. It now boasts more than 600 million users.

Spotify’s stock price is up about 5.5% ($284) in morning trading, following a brief spike of as much as 7.4%.

YG has agreed to a multi-album partnership deal with BMG under his 4Hunnid record label, it was announced today (April 3).  “BMG is making big waves in the industry right now,” YG tells Billboard. “This partnership will take my music to new heights. The BMG team understands the vision for my music and business. Excited for […]

Making live music events as environmentally friendly as possible is a task executed by thousands of workers who install solar panels, transport waste, collect reusable cups, measure energy use and execute other operational tasks. But every employee doing this work ultimately falls under the purview of any given live event company’s head of sustainability. Erik Distler is one of them.  
As vp of sustainability at AEG, Distler leads the company’s corporate sustainability program. There are executives in similar roles at Live Nation, ASM Global and Oak View Group – and together, this group is responsible for greening a significant percentage of global events and venues. In February, the group – who Distler says all know each other given that the sustainability space is relatively small — appeared together in public for the first time during a panel at the inaugural Music Sustainability Summit in Los Angeles.  

“The symbolism of us being together on that stage is powerful and hopefully inspiring to the industry that we’re cheering each other on and perhaps exploring what we can do together,” says Distler. With the stakes being so high, there’s an incentive to share information, he says, particularly given that “this work is really replicable. What you do in one venue or festival can, barring local infrastructure, be done anywhere else.” 

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Distler came to his role after working in sports and entertainment sustainability for more than a decade. At AEG, he and his five-person team design and direct sustainability initiatives across the company’s more than 25 festivals, as well as over 50 music venues; nine arenas and similarly sized venues; four entertainment districts; and more than 15 tours to date.  

AEG has had a sustainability program for 15 years, but when Distler joined in October 2021, his task was to “take our program to its next phase” amid the worsening climate crisis, the increasing demand for sustainable events among consumers, and new sustainable technologies and regulations.  

“The external forces are louder and more influential than they’ve ever been,” he says. “That’s really pushing the industry forward in a way that’s making the case for companies to prioritize and devote internal teams to understand this work, build resources and take action in a meaningful way.” 

Distler spent his first three months on the job meeting with 50 internal stakeholders to better understand the business, how to make it more sustainable and get senior executive buy-in, which he says “was fundamental and really paved the way to get more granular with other colleagues.” 

From the information collected, he created a strategic framework around sustainability, along with an official vision statement — “Inspire the world’s many voices to protect our planet” — and a mission statement declaring that the company is “committed to operating responsibly and to catalyzing the influence of live entertainment to preserve the planet for future generations.”  

“It’s important to have a strategy on a page,” Distler says, “and ultimately a framework that can be used to guide us moving forward.” 

This framework also includes a set of focus areas including carbon and energy, waste and materials water, and stewardship and engagement, along with six guiding principles (“collaboration over competition” and “communicate with transparency and often” among them) and seven pillars: operations, suppliers, employees, fans, communities and partnerships. 

These partners include Schneider Electric, a French multinational energy management company that AEG has worked with for 14 years for support with target setting, strategy, energy sourcing, market intelligence and risk management. A Greener Future in the U.K. and Three Squares Inc. in the United States are sustainability consultants, while r.World provides reusable cups in all of AEG’s Denver music venues, along with select venues in Seattle, San Francisco and Los Angeles, along with six Goldenvoice festivals. For Coachella and Stagecoach, AEG has donated 44.2 tons of food to its partner Coachella Valley Rescue Mission and 34.6 tons of material to the Galilee Center, which provides clothing and other basics to families in the Coachella Valley.  

Distler has also sought additional help. Last year, he worked to get four people hired into three newly created sustainability roles. “It’s not uncommon that a sustainability team is small in count and under resourced,” he says. “ What I see as a large part of my responsibility is ensuring our department is sound economically and building and making the case for staff and resources.”

In addition to Distler and his new hires, the team also includes a data and analytics lead responsible for measuring the impact of AEG events and “all the other people that have jobs like those in festival operations that eat, sleep and breathe this.” Additionally, AEG’s employee-led People For The Planet group is composed of employees from other parts of the company who want to contribute to sustainability projects.  

Altogether, this group is “probably pretty emblematic of a sustainability department,” Distler says. “You may have a small core team, but you’ve got external and internal partners that help get the work done.” 

Given that Europe has tighter sustainability regulations that the U.S., the industry there offers good examples of initiatives that might eventually be adopted in the States. Last November, AEG’s O2 Arena in London launched a green rider: a best practice guide for sustainable touring and events that outlines what the venue is doing in key areas. 

“It’s a great way to sit with an artist and their management team and figure out what we can do while they’re [at the O2] that’s truly sustainable and ultimately communicated to fans,” Distler says of the guide, which was produced in collaboration with U.K. based sustainability consultancy A Greener Future. 

Distler says his team is “constantly” collaborating with artists including Billie Eilish, who in June 2022 hosted an event at The O2 called Overheated that featured vegan food and water refill stations along with climate-minded programming. Last April, after learning that rock band Muse “was passionate about climate issues,” he says, AEG’s Crypto.com Arena made a donation on behalf of the and to the Los Angeles Cleantech Incubator, which works to further clean tech, climate action and the green economy in the city.

Distler on site at Cali Vibes

Courtesy of AEG

AEG made a donation to the L.A. Clean Tech Incubator, which works to further clean technology in the city, from AEG’s Crypto.com Arena on behalf of the band.  Last year, the team also worked with Maggie Rogers to measure the carbon footprint associated with one of her U.S. tour stops and provided that info to Rogers’ team, along with mitigation suggestions. 

In the U.S., AEG has launched a comprehensive sustainability program for its Goldenvoice festivals — including Coachella, Stagecoach, Cruel World and Just Like Heaven. In particular, Goldenvoice’s Cali Vibes functions as a testing ground for sustainability initiatives, including solar panels that light parking lots and the transformation of unpurchased merch into staff uniforms, with these projects be studied for possible use at other events.  

“I always say that sustainability doesn’t happen within our team,” says Distler. “Things like waste avoidance or diversion at a festival happen in collaboration with our operation teams, partners and haulers. That requires work that doesn’t ultimately get done in the corporate office.”  

While the music industry is ultimately responsible for a tiny fraction of global emissions and waste, Distler is resolute about its impact. He recalls being on a panel in New York last fall alongside sustainability heads from major corporations with, he says, “huge footprints, like millions of metric tons of emissions.”  

And yet when it came to the audience Q&A, “everybody had questions for me, and no one had questions for them.” Given its “influence [on] the heart and mind,” the music industry has a responsibility to focus on sustainability, share these initiatives with fans and “create the setting for positive, inspiring and uplifting work.”  

It helps that Distler “absolutely” sees real progress being made, with fans, partners, artists and athletes “putting the right level of pressure on the businesses to take on meaningful action.” He says many of the major corporations AEG works with are also taking on sustainability in a more focused way.  

“It’s sitting down with partners and saying, ‘What are your focus areas? Your goals? Your aspirations?’” he says. “Then sharing ours and seeing what lines up…seeing the eagerness and willingness of our partners to ideate and brainstorm is really encouraging, and is signaling that the industry is moving in the right direction.”

Endeavor, the sports and entertainment giant that owns agencies WME and IMG, announced on Tuesday it will be acquired by private equity firm Silver Lake in a deal that values the company at $13 billion. The move arrives three years into Endeavor’s tenure as a publicly traded company and just six months since WME’s chief rival, CAA, came under new ownership.
Silver Lake is Endeavor’s largest shareholder, having made its initial investment in WME in 2012 and purchasing IMG two years later, and plans on acquiring 100% of the remaining shares by offering stockholders $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share. Endeavor noted that was the price of shares on Oct. 25, 2023, a day before the company disclosed a review of strategic alternatives that included going private.

The company, which went public in 2021 following pandemic-era delays, currently trades as EDR on the New York Stock Exchange, closing at $25.81 on Tuesday (April 2).

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In addition to WME and IMG, Endeavor’s portfolio includes live event hospitality firm On Location, marketing agency 160over90 and sports betting data firm OpenBet. Endeavor is also the majority owner of TKO Group Holdings, formed last year to merge its martial arts league UFC with World Wrestling Entertainment. TKO is not part of the Silver Lake acquisition, however, and will continue trading on the NYSE as “TKO” and “will continue to benefit from its connectivity to Endeavor’s expertise, relationships, and significant capabilities,” the company clarified.

Led by co-CEOs Egon Durban and Greg Mondre, Silver Lake’s $102 billion in combined assets includes a portfolio of companies like Oak View Group, Fanatics, TEG, Waymo, Stripe, Plaid, SoFi and Madison Square Garden Sports, among others.

Endeavor said the transaction is fully financed through equity from Silver Lake and additional capital from partnering investors, including Mubadala Investment Company, DFO Management, Lexington Partners, and funds managed by Goldman Sachs Asset Management. Members of Endeavor’s leadership team, including chief executive Ari Emanuel, executive chairman Patrick Whitesell and president and COO Mark Shapiro, will also roll over their equity, and new debt financing was secured by Goldman Sachs, JP Morgan, Bank of America and other institutions.

“Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today,” said Emanuel. “We believe this transaction will maximize value for all of Endeavor’s public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company.”

Stephen Evans, managing director of Silver Lake and a director of Endeavor, said: “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years. We are excited about what we can achieve together in this next phase, spearheaded by Endeavor’s visionary expertise across talent representation and content and ownership of truly special, marquee assets in sports.”

Stability AI has launched Stable Audio 2.0, adding key new functions to the company’s text-to-music generator. Now, users can generate tracks that are up to three minutes long at 44.1 KHz stereo from a natural language prompt like, “A beautiful piano arpeggio grows to a full beautiful orchestral piece” or “Lo-fi funk.” Stable Audio 2.0 […]

Lewis Capaldi signed with U.K.-based music licensing company PPL for international neighboring rights royalty collections. The company will collect royalties for the use of Capaldi’s music on radio, TV and in public spaces globally. Capaldi is managed by Ryan Walter at Interlude Artists.
Lil Mosey (“Blueberry Faygo”) and his label, Love U Forever, signed a global distribution partnership with Cinq Music ahead of his currently untitled EP to be released this spring. The first single from the EP, “Life Goes On,” debuted on March 22.

“Wine into Whiskey” singer Tucker Wetmore inked a deal with WME for global booking representation. Wetmore, who moved to Nashville in 2020, signed a publishing deal in 2023 with Rakiyah Marshall‘s Back Blocks Music. He follows “Wine into Whiskey” with his new release, “Wind Up Missin’ You.” – Jessica Nicholson

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Mexican singer-songwriter Beto Vega signed with Downtown Artist & Label Services. In addition to global distribution and marketing, Vega (“Me Dicen Nini” with Markitos Toys) will also take advantage of the company’s catalog management and full-service campaigns for future releases, including his upcoming track, “Los Brothers” with Edgardo Nuñez. Vega is booked by Luis Del Villar at Gerencia 360.

Pop/R&B singer-songwriter CIL signed with The Familie for management. The 21-year-old Fort Collins, Colo., native was recently signed to Warner Records by the label’s CEO, Aaron Bay-Schuck.

Turkish-Italian DJ, producer and multi-instrumentalist Carlita signed with Ninja Tune via its imprint Counter Records, which released her latest single, “Time.” She is booked and managed by Alberto Bragado.

Ukrainian band Okean Elzy signed with Warner Music, which will release the group’s first entirely-English album globally, including in the United States, where Elektra will handle distribution. The band is preparing for a series of charity gigs for its Help for Ukraine Tour, with shows slated in Ukraine and other European countries including Belgium, the United Kingdom, Germany and Poland. The group is represented by manager Joel Mark at 9122 Management and Brian Cohen and Joe Friel at WME for booking.

Shaznay Lewis, formerly a member of U.K. group All Saints, partnered with Absolute Label Services for the release of her first solo album in 20 years. Titled Pages, the album is set for release on May 17. Lewis is represented by Wayne Russell at Massive Management and Solomon Parker at Wasserman for booking.

Hip-hop/R&B artist (and actual gas station owner) WRKINSILENCE signed a distribution and licensing deal with 10K Projects, which will release his debut EP later this year. He is managed by Lauren Fukawa.

Alt pop-rock artist Zoe Ko signed to Big Loud Rock, an imprint of Big Loud Records, in partnership with producer and songwriter management company, publisher, record label and A&R consulting company Double Down 11. She is managed by Ava Solomon at NXTWAVE.

Melbourne, Australia-based vocalist, lyricist and producer Vetta Borne signed with [PIAS] Australia, which put out her latest track, “40-40.”

Americana singer-songwriter Cassandra Lewis signed to Elektra/Low Country Sound, which will release her forthcoming major label debut album, Lost in a Dream, later this year. She’s managed by Mark Cunningham at Red Light.

Country singer Kanaan Brock signed to 10th Street Entertainment for management. His debut single, “Sinner and Saint,” is out now.

M Music & Entertainment Group and Freddie Records signed up-and-coming norteño artist Nathan Acosta. The record deal comes ahead of his upcoming debut single, titled “Solo” and penned by Jesse Turner (of Grupo Siggno), which is set for release on April 19. Born in San Antonio, Tex., Acosta is a singer-songwriter and accordion player who was most recently on tour with Grupo Siggno and Jennifer Peña across the United States and Mexico. “This is an absolute dream come true for me,” Acosta said in a statement. “Ever since I was a kid, I’ve dreamed of being able to record and play music in front of big crowds.” – Griselda Flores

Members of the American Federation of Musicians voted to ratify the union’s agreement with the Alliance of Motion Picture and Television Producers. The agreement, which covers basic theatrical motion picture and basic television motion picture contracts, gives musicians streaming residuals for the first time, as well as protections against artificial intelligence, according to AFM. In addition to […]

Kanye West is facing another lawsuit filed by a former employee at his Donda Academy, this time accusing him of discriminating against Black staffers and seeking to lock students in cages.
In a lawsuit filed Tuesday (April 2) in Los Angeles court, Trevor Phillips says the embattled rapper (who now goes by Ye) treated the Black staff at the school “considerably worse than white employees” — and then subjected him to “incessant harassment” and “humiliation” when he spoke up about it.

Like the several other lawsuits filed by former Donda Academy employees, the new complaint includes a number of bizarre allegations about West and his conduct at the school. It claims he told students  to “shave their heads” and that he “intended to put a jail at the school” where students could be “locked in cages.”

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In another odd alleged episode, Phillips claims West summoned him to a room at the Nobu Hotel, where the rapper put on The Batman and watched it in silence.

“After a long and awkward silence, Kanye finally spoke again,” Phillips claims in the suit. “Turning his attention back to Phillips, he began an unprovoked and bigoted rant attacking Jewish people.” Later that same evening, Phillips claims West lay on the bed and simulated masturbating while talking about having orgies.

Phillips claims he was finally fired last year.

The case is the latest lawsuit filed by former staffers of Donda Academy and the Yeezy Christian Academy that preceded it. One of them, filed in July, claimed that the school lacked windows because the embattled rapper “did not like glass” and that students were not allowed on the second floor because West was “reportedly afraid of stairs.” Another case, filed in April 2023, alleged that the only food available to students was sushi.

As with those earlier cases, the strange allegations contained in Tuesday’s lawsuit supported more straightforward legal claims, including discrimination, harassment, retaliation and wrongful termination.

A spokesperson for West did not immediately return a request for comment on Tuesday.

German concert promoter and ticketing company CTS Eventim agreed to buy French media company Vivendi‘s festival and international ticketing businesses, the companies said in a joint statement on Tuesday (April 2).
CTS Eventim and Vivendi have signed a put option agreement for the deal, which includes leading U.K. ticket merchant See Tickets along with Vivendi festivals Junction 2 in the U.K. and Garorock in France. The financial details of the deal, including price, were not disclosed.

CTS Eventim is the world’s second-largest provider of ticketing and live entertainment services, and acquiring the businesses could help it maintain an edge over rival Live Nation in its home market of Europe.

“The acquisition supports our internationalization strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale,” said CTS Eventim chief executive Klaus-Peter Schulenberg in a statement.

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Vivendi’s festival and ticketing businesses, housed under the subsidiary Vivendi Village, generated 137 million euros ($151.2 million) in 2023. See Tickets sold around 44 million tickets last year, generating 105 million euros ($115.8 million). It is the second-largest ticketing company in the United Kingdom and also operates in the United States and seven European nations.

The festival activities that CTS Eventim is set to acquire generated 32 million euros ($35.3 million) last year. Vivendi will retain its stake in the performance hall L’Olympia in Paris, See Tickets France and the Brive Festival.

“We at Vivendi are convinced that CTS Eventim will be the right company to bring our ticketing and festival activities to new heights, supporting See Tickets to remain a state-of-the-art company … while fostering the growth of the festivals and preserving their unique identities and audience,” said Hala Bavière, CEO of Vivendi Village, in a statement.

CTS Eventim is coming off a banner year. The Munich-based company’s revenue topped 2 billion euros for the first time ever in 2023, rising 22% to 2.36 billion euros ($2.53 billion at the average exchange rate in 2023). Normalized earnings before interest, taxes, depreciation and amortization (EBITDA) was also up 32% to 501.4 million euros ($542.7 million).

The companies said they expect to finalize the deal within a few months, pending approval from each of their employee works councils.

CTS Eventim’s stock briefly hit a new 52-week high of 83.85 euros ($90.28) following the news on Tuesday before closing at 82.70 euros ($89.04), up 0.3%.