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Spotify rode a post-election wave of market enthusiasm to close above $400 for the first time on Friday (Nov. 8), valuing the music-streaming giant at nearly $80.5 billion. Before finishing at $400.68, up 4.1% for the week, the company’s stock reached an all-time high of $405.88.
The Stockholm, Sweden-based company’s stock price has increased 113% in 2024 as the company overtook Universal Music Group (UMG) as the most valuable music company. When investors began to tire of high-growth streaming companies with little to show in profitability, Spotify underwent two major rounds of layoffs in 2023, helping reduce costs without sacrificing subscriber growth or revenue. With third-quarter earnings coming on Tuesday (Nov. 12), Spotify will show whether it has maintained that momentum. At least one analyst is optimistic ahead of earnings: Deutsche Bank raised its Spotify price target on Wednesday to $440 from $430.
U.S. stock markets soared this week following the election of Donald Trump on Tuesday (Nov. 5) and the U.S. Federal Reserve’s decision on Thursday (Nov. 7) to lower interest rates by a quarter of a percentage point. On Friday, the Nasdaq composite closed at an all-time high of 19,286.78, up 5.7%. The S&P 500 gained 4.7% to close at a record high of 5,995.54. China’s Shanghai Composite Index rose 5.5% to 3,452.30. South Korea’s KOSPI composite index improved just 0.7% to 2,561.15. In the U.K., the FTSE 100 fell 1.3% to 8,072.39.
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The 20-company Billboard Global Music Index gained 2.4% to an all-time high of 2,043.02, bringing its year-to-date gain to 33.2%. The index had 13 stocks in positive territory while six lost ground and one was unchanged.
The week’s top music stock was iHeartMedia, which jumped 16.7% to $2.44 after the company announced it will restructure much of its retiring debt and plans to save $200 million in 2025 through cost cuts and the embrace of technology. “Technology is the key to increasing our operating leverage and is a constant focus for us,” CEO Bob Pittman said during an earnings call on Thursday. “It allows us to speed up processes, streamline legacy systems and it enables our folks to create more, better and faster.” iHeartMedia shares are down 8.6% year to date but have risen 180% since May 24.
LiveOne gained 15.6% to $0.89 per share after the music streamer announced that revenue increased 14% to $32.6 million and paid members rose 27% to 645,000 in its fiscal second quarter ended Sept. 30. Reservoir Media was another top gainer, improving 9.1% to $9.00.
On the live front, Live Nation shares rose 5.1% to $123.02 following a post-election day boost. The concert promoter is currently facing a lawsuit from the U.S. Department of Justice but could find a better outcome from new appointments made by the Trump administration. The election wasn’t the only reason for the stock’s gains: Morgan Stanley upped its price target to $140 from $120 based on “a combination of strong underlying consumer demand and powerful artist incentives to tour,” analysts wrote in an investor note on Tuesday. Deutsche Bank also increased its Live Nation price target to $130 from $122.
K-pop stocks surged this week despite HYBE and SM Entertainment both reporting sharp drops in profit last quarter due partly to weaker recorded music revenues. HYBE shares jumped 6.4% after the company reported a 99% drop in net income. Likewise, SM Entertainment gained 7.2% the same week the company announced quarterly net profit fell 96% on a 9% revenue decline and a 36% drop in recorded music revenue. Investors may have gained optimism from SM Entertainment’s announcement it will launch a new girl group — its first since aespa debuted five years ago — in 2025 with a single and album release in the first quarter.
JYP Entertainment, which has not yet announced quarterly earnings, shot up 12.6%, and YG Entertainment continued its hot streak, rising 6.3% and bringing its gain in the last three weeks to 17.6%. YG has received a boost from the success of “APT” by ROSÉ featuring Bruno Mars. The song is currently in its second week atop both the Billboard Global 200 and Billboard Global Excl. U.S. charts.
Tencent Music Entertainment (TME) shares rose 2.4% to $11.39 ahead of the company’s third-quarter earnings on Tuesday (Nov. 12). Bernstein initiated coverage of TME with a $14 price target. Barclays initiated coverage with an “overweight” rating and a $16 price target.
German concert promoter CTS Eventim was the worst-performing music stock of the week, dropping 10.4% to 87.70 euros ($94.05). The company will release third-quarter results on Nov. 21. Elsewhere, Cumulus Media dropped 6.4% to $0.88, adding to the prior week’s 19% decline, while SiriusXM dropped 5.5% to $26.13.
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Sony Music Publishing (SMP) has signed a global deal with Mike Dean and several members of his producer collective MWA, including Sean Solymar, Tommy Rush and Sage Skolfield. The deal also includes a new strategic partnership between SMP and MWA to foster the creative development of its new talent. Dean is one of the most influential producers working today. Since the ’90s, he’s defined the sound of hip-hop. He started his career in the Houston area working with Southern rap icons like Scarface, Ugk and Devin The Dude. Since then, Dean has worked across nearly the entire discography of Ye (formerly Kanye West) as well as on pivotal albums like Travis Scott’s ASTROWORLD, Beyoncé’s Lemonade, Frank Ocean’s Blonde, The Weeknd’s Beauty Behind the Madness and many more.
EMPIRE Publishing has entered a global publishing partnership with two-time GRAMMY winner Billy Ray Cyrus. The voice behind hits like “Achy Breaky Heart” and Lil Nas X’s “Old Town Road” remix, Cyrus is set to release his next song, “Remember Why You’re Here,” on Nov. 22.
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PULSE Music Group has formed a creative joint venture with songwriter/producer Gabe Simon and his publishing entity Abide By the Vibe. Simon is best known for co-writing and co-producing Noah Kahan’s hit album Stick Season along with Kahan’s previous LPs. The first two signings to the PULSE Music Group/Abide By the Vibe JV are Noah Levine (another Kahan co-writer) and Sam “HAFFWAY” Westhoff (a Nashville-based writer, producer and artist).
Bossy Songs (the publishing venture founded by RECORDS CEO and co-founder Barry Weiss) and Sony Music Publishing have extended their joint publishing venture and announced the signing of writer/producer Austin Corona. Corona is perhaps best known for his work on Halsey’s latest album, The Great Impersonator, (“Panic Attack,” “Ego,” “Darwinism,” “Lonely is the Muse”), but he has also worked on Zara Larsson’s Venus, Jean Dawson’s CHAOS NOW and GLIMMER OF GOD, and Peter McPoland’s “Piggy.” Frequently, Corona works alongside his production partner, Wyatt Bernard, who is signed to Sony Music Publishing. The roster for Bossy Songs now includes Corona, Dan Gleyzer, Cheyenna, Michael Sonier, Cody Tarpley and IDA.
The Ivors Academy, the U.K.’s premier songwriting advocacy organization, has elected 40 songwriters and composers to its members Senate. This group includes English star Paloma Faith, Ivor Novello Award winners Kamille and Tinie Tempah, fellow of The Ivors Academy David Arnold, and current Ivors Academy Chair and founding member of Gomez Tom Gray. Elected once every three years, the Senate provides feedback that influences the direction of the Ivors Academy and its positions on key issues like AI, creator remuneration, the future of public funding for the arts and more.
peermusic latin america has signed AQUIHAYAQUIHAY, Un León Marinero and Foudeqush to exclusive worldwide publishing deals. The trio was signed by peermusic Mexico, with the deals encompassing existing song catalogs and future works. “peermusic Mexico is proud to add to its roster these latest signings which showcase the variety and breath of Mexican music’s contemporary talents and our office’s commitment towards supporting our rich local heritage,” said Viridiana Gonzalez, GM of peermusic Mexico, in a statement.
Universal Music Publishing Group has signed Tim Powell in collaboration with Organized Chaos. Powell is a British songwriting talent who has lent his pen to songs like “Hole in the Head” and “Round Round” by Sugababes, “Call the Shots” by Girls Aloud, “Love etc.” by Pet Shop Boys, “Picking Up the Pieces” by Saint Etienne, “Change Your Life” by Little Mix and “Head & Heart” by Joel Corry & MNEK.
Warner Chappell Music and Twelve6 Entertainment have signed singer-songwriter Ben Wagner to a global publishing deal. Wagner is a rising talent in Nashville and is best known for his work with Wyatt Flores on his songs for Netflix’s Virgin River and Ordinary Angels.
Sony Music Publishing Indonesia (SMPI) today announced the signing of acclaimed Indonesian singer, songwriter and actor Sal Priadi to an exclusive global publishing agreement. The landmark deal sees Sal Priadi’s entire back catalog coming under the SMPI umbrella.
Dua Lipa will not perform in Jakarta on Saturday due to what the singer is calling “a safety issue with the staging.” On Friday (Nov. 8), the pop star posted a message on her Instagram Story saying that “I am heartbroken to share that I won’t be performing in Jakarta this Saturday, November 9. I […]
Federal prosecutors are citing Lil Durk’s lyrics in the criminal case accusing him of ordering his OTF associates to murder rapper Quando Rondo in a 2022 shooting, arguing he sought to “commercialize” the crime by “rapping about his revenge.”
Two weeks after the Chicago rapper (Durk Banks) was arrested and charged with conspiracy to commit murder-for-hire, prosecutors unveiled a new indictment Friday over the 2022 attack at a Los Angeles gas station, which left Rondo (Tyquian Bowman) unscathed but saw friend Lul Pab (Saviay’a Robinson) killed in the crossfire.
The updated indictment added two additional felony counts against Durk on top of the original conspiracy charge, including another murder-for-hire count and a firearms count. It also consolidated Durk’s case with similar charges filed against several of his associates.
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But most notably, the amended charges included a brand new allegation: That Durk had directly referenced the shooting in a 2022 song: “Following the attempted murder of [Rondo] and the murder of [Lul Pab], defendant Banks sought to commercialize [Lul Pab]’s death by rapping about his revenge on [Rondo].”
The feds claim that the lyrics to Durk’s song — a track called “Wonderful Wayne & Jackie Boy” — make direct reference to a news clip filmed shortly after the shooting, in which Rondo can be heard screaming “no, no!” after seeing Lul Pab’s dead body.
“Told me they got an addy (go, go)/ Got location (go, go)/ Green light (go, go, go, go, go),” Durk raps in the lyrics referenced in the indictment. “Look on the news and see your son/You screamin’, “No, no” (pu–y).”
The use of rap music as evidence in criminal cases is controversial, as critics argue it threatens free speech and can sway juries by tapping into racial biases. Over the past few years, the practice has drawn backlash from the music industry and led to efforts by lawmakers to stop it. But it has continued largely unabated, most notably in the recent criminal case against Young Thug in Atlanta, in which prosecutors made extensive use of his music.
An attorney for Durk did not immediately return a request for comment.
Like the earlier charges, the new indictment claims that Durk’s Only The Family was not merely a well-publicized group of Chicago rappers, but a “hybrid organization” that also functioned as a criminal gang to carry out violent acts “at the direction” of Durk.
Prosecutors say one of those acts was the 2022 attempted killing of Rondo, allegedly carried out in retaliation for the 2020 killing of rapper King Von (Dayvon Bennett), a close friend of Durk’s.
“Banks put a monetary bounty out for an individual with whom Banks was feuding named T.B.,” referring to Rondo by his initials. “Banks ordered T.B.’s murder and the hitmen used Banks and OTF-related finances to carry out the murder.”
In addition to Durk, prosecutors have also charged several alleged OTF members — Kavon London Grant, Deandre Dontrell Wilson and Asa Houston — as well as two other alleged Chicago gang members named Keith Jones and David Brian Lindsey.
If convicted on all three counts he’s now facing, Durk is facing a potential sentence of life in prison.
Peering over U.S. borders at the rest of the world, the recorded music business looks like the land of opportunity. The U.S. is certainly lucrative, but it’s also hyper-competitive. While the three major labels have locked up most of the States’ recorded music revenues — they distribute many indies, too — they command a far lower share internationally.
A new estimate of independent labels’ market share shows why major labels’ investments and acquisitions in foreign territories are so common. On an ownership basis, independent artists and labels had a 46.7% share of the global recorded music business in 2023, according to a new MIDiA Research report, with independent labels taking a 40.8% share while artist-direct distributors such as Ditto Music and TuneCore having a 5.9% share. (The data, collected through an online survey of independent labels, accounts for 93% of all global revenues.) That leaves 53.3% for the major labels.
The U.S. is considerably more concentrated. Independent labels and distributors had a 35.7% share of the U.S. market in 2023, according to Billboard’s analysis of Luminate data — 11 percentage points less than their global share — with the major labels owning the remaining 64.3%. That means that while independent artists and labels were behind the majority of the well over 100,000 new tracks that were being uploaded to digital service providers daily as of early 2023, they only accounted for a bit more than a third of revenue.
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The U.S. market gets even more concentrated when distribution, not just ownership, is measured. In the U.S., the major labels have an 84.3% distribution share through their ownership of music distributors Ingrooves (Universal Music Group), The Orchard (Sony Music), AWAL (Sony Music) and ADA (Warner Music Group), leaving independent labels and distributors with a 15.7% share. But MIDiA puts the independents’ global distribution share at 34.2% — 18.5 percentage points higher than their U.S. share.
Besides the availability of market share, companies are also investing outside of more familiar, Western countries because they’re chasing high growth rates. The U.S. is slowing and has settled into solid, high-single-digit annual improvements: 7.2% in 2023 and 5% in 2022 after a pandemic-related 41% surge in 2021, according to the IFPI’s data on global trade revenue.
Emerging music markets, on the other hand, are growing like weeds. Strong gains in some heavily populated countries led the U.S.’s share of global revenues to dip from 41.2% in 2021 to 38.6% in 2023. Over that time span, China’s share grew from 3.8% to 5.1% and Brazil’s share rose from 1.8% from 2.0%. In 2023 alone, Mexico grew 18% to $490 million, and India grew 15% to $357 million to overtake Spain as the world’s No. 14 market.
For majors and indies alike, the never-ending pursuit of market share is taking them across the globe. This year, Universal Music Group bought a majority stake in Nigerian record label Mavin Global and Outdustry, a record label and artist services provider that focuses on China, India and other emerging markets. Warner Music Group took a majority stake in Indian digital media and music company Divo. Believe acquired Turkish record label DMC and purchased Indian record label White Hill Music’s catalog and YouTube channel. In 2022, Sony Music acquired Brazilian independent music company Som Livre. A year earlier, Warner Music Group invested in Saudi Arabian independent label Rotana, building a presence in the Middle East-North Africa region where Reservoir Media has a partnership with Abu Dhabi-based PopArabia.
Streaming and social media have allowed independents to blossom around the world, creating a market “more diverse, fragmented, international, and regional than it has ever been,” wrote MIDiA’s Mark Mulligan. “It has resulted in a market that is characterized by both fragmentation and consolidation,” wrote Mulligan. “These opposing forces are shaping today’s market and will do so in the coming years.”
Electronic music producer Bassnectar is asking a federal judge to dismiss a long-running civil lawsuit accusing him of sexually abusing three underage girls, arguing that all three alleged victims lied about their ages and had themselves instigated the relationships.
In a motion filed Monday (Nov. 4) in Nashville federal court, attorneys for the DJ (Lorin Ashton) argued that the case did not need to be decided by a jury because the discovery process — the investigation of evidence during a civil lawsuit — had revealed that there was no merit to the allegations.
“Discovery has confirmed that when each of the plaintiffs first contacted defendant, they lied about not only their ages, but also their level of education, as well as their work and life experiences,” his lawyers write. “Each plaintiff admitted to deceiving defendant into believing that she was over the age of eighteen.”
Ashton’s lawyers also say the discovery process has also made “crystal clear” that the DJ “never forced — in any way — plaintiffs into having a sexual relationship with him.”
“To the contrary, the record demonstrates that the pursuit of a sexual relationship between the parties was instigated by Plaintiffs, each of whom was always free to continue it or end it,” his attorneys write. “Plaintiffs simply cannot prove that they were coerced or that they felt that they had no other choice but to engage in a sexual relationship with Defendant.”
The filing comes more than three years after the three women — Rachel Ramsbottom, Alexis Bowling, and Jenna Houston — filed their lawsuit, accusing Ashton of using his “power and influence to groom and ultimately sexually victimize underage girls.”
The lawsuit, which accuses Ashton of sex trafficking, child pornography and negligence, claims that the star would invite minors to his shows, bring them to a hotel room and provide “large sums of cash and other items of value” in exchange for sex.
Last month, Ashton’s attorneys moved for “summary judgment,” meaning the judge would rule on the case without submitting it to a jury. They cited, among many other arguments, that state law enforcement had investigated Ramsbottom’s accusations and federal authorities had looked into Houston’s — and that prosecutors had declined to file charges in both instances.
Responding to that motion last month, attorneys for the accusers blasted Ashton for seeking to dismiss the case, claiming he had made damning admissions during depositions, including “knowing full well” that Ramsbottom was under 18. They also argued that he had clearly “groomed” them in such a way that facilitated the abuse.
“He entered their teenaged lives as a famous celebrity, engendered their trust, and made it such that his withdrawal of affection or the threat thereof, which the plaintiffs now understand to be abusive, caused each to continue their interaction with defendant,” their lawyers wrote at the time.
With Monday’s reply from Ashton’s attorneys, the case is now in the hands of the judge, who will decide in the coming weeks or months whether to order a jury trial or dismiss the accusations. Attorneys for both sides declined to comment.
In recent years, the Grammys have served up several decisive sweeps (and head scratching omissions) that have dominated the conversation and led to some record labels celebrating huge wins in the Big Four categories of record of the year, song of the year, album of the year and best new artist. Within the past decade, Interscope Records emerged victorious in all four categories when Billie Eilish swept the top honors in 2020, while Atlantic’s Bruno Mars took three of the four in 2018, Columbia’s Adele did the same in 2017 and Capitol, through Beck (AOTY) and Sam Smith (BNA, ROTY and SOTY), swept them all in 2015.
What makes the full Big Four sweep particularly difficult is the best new artist aspect, in that rarely does an artist make such an impact with their initial breakthrough that they can win, or even get nominated in, the record, song and album of the year categories. It’s not unheard of — Eilish, Smith, Lizzo, Olivia Rodrigo, Amy Winehouse and Norah Jones have all been nominated in the Big Four categories in a single year this century, with Eilish and Jones sweeping the wins — but it’s not exactly common, either.
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Which makes this year particularly notable: Both Sabrina Carpenter and Chappell Roan received nominations in each of the Big Four categories for the 2025 Grammy Awards, marking just the second time that two artists have achieved that in the same year. (Eilish and Lizzo both received them in 2020.) Even more, they’re both signed to Island Records, a historic achievement for a historic label.
With those eight nods — for Roan’s “Good Luck, Babe!” (record and song); Roan’s The Rise & Fall of a Midwest Princess (album); Carpenter’s Short N Sweet (album); Carpenter’s “Please Please Please” (song); Carpenter’s “Espresso” (record); and BNA for both — Island leads all labels in Big Four nominations, a huge moment for a label that had not been at that table at all in years.
Following Island is Interscope, which racked up seven Big Four nominations through a combination of Kendrick Lamar (record and song for “Not Like Us”), Billie Eilish (record and song for “Birds of a Feather,” album for Hit Me Hard And Soft), Jacob Collier (Interscope distributes his Hajanga label, which put out his album of the year-nominated Djesse Vol. 4), and Bruno Mars and Lady Gaga’s “Die With a Smile” (song), which came out on Interscope (Mars’ label Atlantic did play a role, but Interscope is the credited label).
Beyond Island and Interscope, many of the rest of the nominations were spread out among several labels. Receiving three nods apiece were Republic (album, record and song for Taylor Swift’s The Tortured Poets Department and “Fortnite”) and Columbia (album, record and song for Beyoncé’s COWBOY CARTER and “TEXAS HOLD ‘EM”). Elsewhere, EMPIRE (best new artist for Shaboozey and song for Shaboozey’s “A Bar Song (Tipsy)”) received two, as did Warner (best new artist for both Benson Boone and Teddy Swims), Atlantic (album for Charli XCX’s BRAT and record for Charli’s “360”) and Capitol (best new artist for Doechii and record of the year for the Beatles’ AI-assisted “Now and Then”). Lastly, Epic (album for Andre 3000’s New Blue Sun), dead oceans (best new artist for Khruangbin) and Human Re Sources (best new artist for RAYE) all received one nomination each.
Among the label groups, that means that the Universal Music Group — home to Island, Interscope, Republic and Capitol — racked up 20 of those Big Four nominations, far and away leading the sector. (Given UMG’s recent reorganization, the REPUBLIC Corps Collective claimed 11 nominations, while the Interscope Capitol Labels Group had nine.) Finally, Sony Music had five, Warner Music landed four, while the indie sector claimed three.
The sweeping electoral victory of Donald Trump will change the U.S. government, and the country itself, in ways that no one can yet predict. So far, though, it appears that the music industry will not be affected as dramatically as other businesses.
“I don’t think there will be that much of a change,” said a senior executive at one of the major labels. Partly that’s because music, and copyright, are no longer the hot-button issues they were a decade ago. And partly that’s because, at a time of increased partisan rancor, copyright is one of a few genuinely bipartisan issues, according to a half-dozen executives. Because it brings together Democrats who tend to look favorably on the media business and Republicans who believe in strong property rights, passing legislation often depends more on building a coalition of legislators from both parties.
There are no music companies in Trump’s crosshairs, at least from his own public comments, and he tends to look favorably on entertainers, even when they tend not to return that respect. Indeed, right-wing Republicans have been far more critical of media companies and online platforms than of major labels and movie studios.
The most immediate music business issue before the government is the Department of Justice antitrust case against Live Nation Entertainment, which seeks to break up the company. Trump will appoint a new attorney general to replace Merrick Garland, and that appointee will almost certainly replace Jonathan Kanter, who runs the antitrust division. The future of the case will depend on Kanter’s replacement, and several music executives and antitrust experts said that it’s hard to predict how that person will proceed.
“We congratulate President-elect Trump on his election,” said a spokesperson for Live Nation Entertainment. “Live Nation is proud to help bring joy to fans through concerts, sports and other live events. We look forward to working with the incoming administration to continue driving the positive impacts our industry has on American jobs and local economies.”
Several executives without direct knowledge of the matter speculated that, for optics reasons, the DOJ would be less likely to drop the case than to pursue a low-stakes settlement, but all of them made clear that there was no way to know.
Right now, the big issue in the music business is artificial intelligence, and the industry has been lobbying for the Nurture Originals, Foster Art, and Keep Entertainment Safe (NO FAKES) Act, which would protect the voices and likenesses of human creators. The bill was introduced in the Senate in July and the House of Representatives in September. It has sponsors on both sides of the aisle, including Senators Marsha Blackburn (R-Tenn.) and Amy Klobuchar (D-Minn.). (One might presume they do not agree on much else.) The industry is going to push to pass it in the “lame-duck” Congress, before the end of the year, but it will conflict with other priorities, and several executives said that would be a long shot. Otherwise, it will be re-introduced next year, and the changes in government are not expected to affect its chances much.
Some of the policies Trump has said he will pursue, such as tariffs for imports, could be bad for U.S. business on a broader level. This could make physical goods more expensive, especially merchandise, such as T-shirts. It could also make CDs and vinyl more expensive, although only by so much, since they could also be manufactured in the U.S.
It is also possible that changes to the tax system could affect catalog sales, as well as the desirability of songs and recordings as an investment. But it is unclear how much taxes will change — and other economic factors, such as interest rates, are likely to affect investment calculations more.
After 18 years on Canadian airwaves, MTV Canada is preparing to go off the air on Dec. 31. The decision to shutter the specialty channel was confirmed by Bell Media, with a company spokesperson citing “changing audiences” on specialty TV as the reason for the closure.
MTV Canada launched in 2006 as part of the CTV network, and the channel offered viewers a Canadianized version of the MTV brand, one that has had a huge international impact. MTV Canada’s programming provided a mix of reality TV, music content, talk, lifestyle and pop culture-oriented documentary programming.
Many of the channel’s most popular shows were talk and reality-based, airing The Hills and Teen Mom. MTV Live, launched in March 2006, launched the career of co-host Dan Levy. The flagship half-hour variety show ran for six seasons, and won a Gemini award for Best Talk Series.
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Now best known as the co-creator and co-star of hit Emmy-winning Canadian TV comedy Schitt’s Creek, Dan Levy would gain prominence in Canada co-hosting, co-writing and co-producing the MTV Canada ratings hit The Hills: After Show (later just The After Show) with Jessi Cruickshank.
The channel later become increasingly dependent on such American reality shows as Floribama Shore, Jersey Shore: Family Vacation and Caught In The Act: Unfaithful in its programming, and by the end was playing multiple hours per day of the comedy reality clip show Ridiculousness.
South of the border, the MTV brand has also suffered in recent years, with owner Paramount Media Networks, shutting down MTV News and pulling down its website’s online archives in May 2023, as part of a massive round of layoffs at Paramount.
MTV Canada’s name and branding was used under a licensing agreement with Paramount Global. Unlike MTV channels in the United States and internationally, the channel was restricted in its ability to carry music programming until 2015, due to conditions in the channel’s license issued by the Canadian Radio-television and Telecommunications Commission (CRTC).
Those restrictions meant that, unlike its international counterparts, MTV Canada never employed the “Music Television” tagline. As a result, in terms of music programming, the channel struggled to compete with the homegrown and much-beloved MuchMusic channel, which is also owned by Bell Media.
Anthem Entertainment & Wax Records Announce New Creative Partnership
Anthem Entertainment and Wax Records are joining forces.
The independent music company and record label have announced a strategic creative partnership, one they state “is designed to revolutionize the artist development process.”
The Anthem-Wax partnership seeks to remove barriers between songwriters, producers and artists, and give them the tools and resources to create together. That includes initiatives like international song camps to connect people across diverse genres, in-house studio spaces and dedicated writing rooms. These resources are designed to facilitate a higher volume of music and effective market readiness.
Anthem Entertainment is a big player in publishing and licensing, with a stable that includes hit songwriters like Chantal Kreviazuk and Timbaland. The company has a massive catalog of songs, an infrastructure featuring robust creative and executive teams, and creative spaces in Toronto and Nashville. Anthem recently sold its Production Music Group to Slipstream, a deal that included noted production music agency Jingle Punks and added over 650,000 tracks to Slipstream’s catalog.
Since starting in 2009, Wax Records has built a roster headed by platinum-selling artists Alyssa Reid, Shawn Desman and Virginia to Vegas along with bülow, Conor Gains, Blitz//Berlin and more.
The partnership expands the scope of both companies.
“I’m thrilled to welcome the Wax team — and their exceptional roster of artists — into the Anthem family,” says Anthem CEO Jason Klein. “Jamie [Appleby, Wax Records President and Head of A&R] and Ron [Morse, Wax Records CEO] have built an extraordinary label, with a creative and agile approach to artist discovery, development, and marketing that transcends conventional limitations. This partnership will allow Wax to elevate their outstanding work with additional resources and infrastructure, and introduce an exciting new creative pipeline for Anthem’s songwriters.
“The possibilities for global success with this partnership are limitless.”
Anthem and Wax tout the partnership as “an evolution of the music business” and a key to artist empowerment as well as a key to opening doors internationally.
“The global music marketplace is an ever-changing adventure,” says Wax’s Jamie Appleby. “Through countless hours of dedication and hard work, we strive to cultivate a vibrant entrepreneurial culture that supports and provides globalization opportunities for our community. We are excited for the next evolution of Wax Records, and have tremendous admiration for Jason and the exceptional team at Anthem. This new venture will expand our ongoing commitment to our incredible artists, venture partners, and sub label groups.”
Billionaire hedge funder and Universal Music Group board member Bill Ackman called for UMG to move its stock listing and legal headquarters to the United States from Amsterdam after violent attacks on Israeli soccer fans overnight in the Dutch capital. Amsterdam’s Mayor Femke Halsema said fans of Maccabi Tel Aviv were attacked and “pelted with […]