Business
Page: 307
On Friday (Jan. 5), the band’s fans began expressing concern online upon noticing that its website and socials had been wiped clean. As a source confirms to Billboard, the fresh start follows the expiration of the band’s 20-year contract with Atlantic Records in late December, meaning the Hayley Williams-fronted group is now a free agent. […]
The modern music industry may run on subscriptions — streaming, satellite radio, Peloton, et al. — but it still depends greatly on the advertising business. Indeed, non-subscription-based streaming, along with social media and broadcast radio, continues to produce important royalties and licensing income for record labels and music publishers.
Unfortunately, 2023 was a lackluster year for advertising-based businesses, as brands held back due to economic pressures. The slowdown extended into the fourth quarter: Trade Desk, a digital advertising platform, warned in November that expectations for revenue growth in 2024 “may be premature.”
So, can people expect improvements in 2024? According to a new report by Mediaocean, the outlook is mixed: While some advertising-based businesses can expect more demand this year, others may not witness a rebound.
In November, Mediaocean surveyed nearly 1,100 marketers, ad agencies, media companies and tech platforms, among other companies, about how they expect to spend on various types of advertising in the coming year. The survey revealed that advertising dollars will continue to flee from legacy media — namely print and television — in favor of social media, digital display and video and connected TVs.
Social platforms such as TikTok top the list of predicted ad spending in 2024: 69% of respondents said they expect to increase their spend in 2024 on social media, while only 28% said they will maintain social media spending and just 3% plan to decrease spending. Social media has taken the biggest jump in the last two years. When surveyed at the end of 2021, 56% of respondents — 13 percentage points less than the latest survey — said they expected to spend more on social platforms, while the percentage of people who planned to maintain spending in 2022 was 10 percentage points higher at 38%.
Digital display and video advertising showed a similar breakdown to social media: 65% of respondents expect to increase, 30% plan to maintain and 5% expect to decrease their spending. Most respondents also expect to increase their spending for connected TV and search. These categories were little changed from the prior year.
Radio and audio advertising will fare about the same as last year: 24% of respondents expect to increase spending on radio and audio in 2024, down from 25% in 2023, while 54% of respondents plan to maintain their spending levels and 22% expect to decrease their spending. Going into 2023, 51% of respondents expected to maintain radio and audio spending and 24% planned to spend less. However, those numbers mark a distinct downward trend from 2022, when 61% of respondents said they expected to maintain radio ad spending while just 15% expected a reduction.
Given that data, radio companies that have both digital and broadcast businesses should fare better than those without a digital component – and they may already be seeing a recovery. Speaking at the Wells Fargo TMT Summit on November 29, iHeartMedia chairman and CEO Bob Pittman said the company’s digital advertising “seems to have already recovered” and that radio advertising will recover when brands see an economic recovery on the horizon. “Advertising tends to be a leading indicator,” he added. The same trend can be seen, albeit in a more negative direction, at Audacy, which faces a possible bankruptcy caused in part by lagging broadcast revenue: In the third quarter of 2023, spot and network advertising was down 8.9% year over year while digital revenue rose 3.4%.
TV advertising has taken the biggest fall over the last two years. Going into 2022, only 15% of respondents expected to spend less on local TV and 13% planned to spend less on national TV. Two years later, 33% expect to spend less on local TV and 27% expect to reduce spending on national TV.
Although audio streaming has eaten into the time people spend listening to radio, about 90% of Americans still listen to the radio each week. The same can’t be said for video, however, as video streaming has sharply reduced the audience for cable television. In the third quarter, the penetration rate of traditional pay TV — cable, telco and satellite — fell to 54.8% after those companies lost nearly 2 million subscribers, according to MoffettNathanson. That marks the lowest penetration rate since 1989.
That can be chalked up to the swift rise of video streaming platforms. In the third quarter, YouTube TV surpassed satellite company Dish Network to become the fourth-largest multi-channel video programming distributor. MoffetNathanson believes YouTube TV could surpass satellite company DirecTV for third place in less than a year.
The first No. 1 of 2024 on Billboard’s Hot Latin Songs chart belongs to 19-year-old Mexican-American artist Xavi, whose “La Diabla” (“The She-Devil”) is a romantic tumbado about a bad boy romancing a bad girl to the tune of a crunchy requinto guitar. Out on Interscope, the song, which rose from No. 4 to No. 1 post-Christmas, is Xavi’s first No. 1 on any Billboard chart. It also topped Spotify’s Global Top 50, a first for a solo regional Mexican act.
Xavi (short for Joshua Xavier Gutiérrez) also scored his fourth week atop Billboard’s Latin Songwriters chart on the strength of “La Diabla,” his previous single “La víctima” (which rose from No. 7 to No. 5 on Hot Latin Songs this week), “Poco a Poco” with Dareyes De La Sierra (at No. 18) and “Modo DND” with Tony Aguirre (at No. 21).
It’s quite a performance for the relatively unknown singer-songwriter from Arizona, who was signed to Interscope two years ago when he was still in the early TikTok stage, with no viral hit to his name.
“We have great respect for the indie labels, but it’s not like he was going viral and we signed him,” says Manny Prado, vp of marketing and A&R for Interscope. “I think it’s a big success for a major label that we were able to get an artist from zero to the global charts, and hopefully next he’ll become a global superstar.”
Prado, who spent two decades with Sony U.S. Latin, most recently as head of West Coast operations, moved to Interscope in August and took over a blooming regional Mexican roster that also includes Gabito Ballesteros and Iván Cornejo. While he works with all genres of Latin music in his new position, as a Mexican-American, the rise of regional Mexican music has been particularly gratifying, he says. Regional Mexican music — the broad umbrella term given to dozens of subgenres like banda, norteño, corridos and sierreño — has always been one of the foundations of Latin music’s success, both in the United States and Mexico. But it only entered the global consciousness — and the Hot 100 — in the past two years.
Now, Xavi is part of a new generation of very young Regional Mexican artists whose music is currently the dominant Latin presence on the Hot 100 and the global Latin charts overall. But, unlike most rising stars, who first enter the upper echelons of the charts aided by collaborations and big-name partnerships, Xavi has done so alone. Both “La Diabla” and “La víctima,” his two big hits, are solo efforts by design. Since signing him, Interscope has focused on developing both his style and his songwriting. His more romantic approach — Xavi has yet to enter “bélico,” or drug-related songwriting terrain — coupled with a baby face and a vibrant, acoustic sound, has given him broad appeal. And Interscope’s focus on social amplification has taken his music even further.
In recognition of Xavi’s Hot Latin Songs chart feat, Prado is Billboard’s Executive of the Week. Below, he talks about the rise of Regional Mexican with a younger generation, why they decided not to make “La Diabla” a duet, how they plan to broaden Xavi’s reach beyond the Latin audience and more.
You’re based in Los Angeles but report to Nir Seroussi, who runs Interscope’s Miami office, with a growing Latin roster. How important is Mexican music within that?
Here at Interscope, we don’t have an “Interscope rock” or an “Interscope country,” and we don’t have a division we call Latin or Mexican. What we do is we assemble a specific team depending on the artist, and I’m in charge of all the “Miami” roster, [including] Kali Uchis and Karol G. Regional Mexican has grown exponentially. We already had Xavi when I came in, as well as Iván Cornejo and Marca Registrada [among many others]. And the common theme is they’re all young. The majority are Mexican-American, which I love, born in the United States, just like me. My parents are Mexican immigrants, so for me, it’s an honor to work with these types of artists that I have so much in common with. It’s all about respecting each individual artist, having the deepest respect for their roots and giving them the service they want. Sometimes we work with our general-market company. We don’t have borders.
Regional Mexican music has always been a backbone of Latin music but has never been this global. Why do you think it’s having such a moment right now?
They’re Gen Z-ers, and I think that’s the difference. For example, I was at Amoeba Music, and never in my wildest dreams did I imagine I’d see Natanael Cano and Gabito Ballesteros t-shirts. That’s the beauty of today that has never happened: The younger generation is growing up with these artists. When I was growing up it was all traditional music, there was nothing really young. Now it’s cool to like Mexican; the way they dress, the way they talk, they’re very relatable. And you can be an artist from Mexico and have the same things.
Within this big crop of acts, what makes Xavi stand out?
When Nir and the team first met Xavi, they immediately recognized a genuine artist in the traditional sense: a phenomenal songwriter who can sing and is also relatable. In a sea of artists lacking these qualities, Xavi stood out. People are growing weary of the superficial, and they crave authenticity — the real deal. And Xavi is the real deal. We have a daily sentiment report that we’re very much obsessed with.
A sentiment report? Can you explain?
We go into social media and look at every little comment. For example, if there’s a post on TikTok, we’ll see what the general sentiment is. This team is amazing. What sets Xavi apart by just looking at that report and talking to people is his mannerisms, his style, he’s being compared to the biggest artists on the planet. People like him. Tiene angel.
You said that social media has played a huge role in Xavi’s rise. Can you point to some examples in which Interscope mined that?
Our digital marketing team prioritized reaching out to genre-specific music reviewers to encourage them to discuss Xavi. We presented them with the project, and they consistently came back with extremely positive comments. Additionally, we organically documented special moments in the studio, video shoots and interviews, keeping Xavi’s audience captivated and well-informed. It wasn’t easy. A lot of people said, “Who is that kid?” The music also changed and he found his direction.
How did the music change?
He just found his style. It became like tumbadito romántico. Before it was a lot more romantic, a little poppier. Now he has more of a Mexican edge in the music. Another thing is, “La Diabla” talks about women in a very positive light. We’re seeing the female population really embrace it. In the genre, it’s not a thing to write about women in a positive light.
I’m also struck by the fact that his two biggest hits are solo tracks instead of collabs. Was this a deliberate decision?
Yes, and we’re very proud of it. He actually made history as the only solo Mexican artist to hit No. 1 on the Spotify chart. We wanted to be different and we felt that Xavi really had the talent, that distinctive voice to accomplish that goal. When we saw “La víctima” take off like it did, and then we had “La Diabla,” we said, “Let’s keep going.” We did think about making it a duet and we’ve had various artists approach [us], but ultimately the decision was, we’re going alone. We felt we had so much momentum that we thought we shouldn’t wait, even though the holidays were coming.
How did you promote the track?
We had a Posada at Interscope studios before the holidays, around December 14. It’s for sure the first regional Mexican event done at the historic Interscope studios in L.A., and we invited DSPs, influencers, traditional media, and that’s how we kicked off the single. And we amplified everything through that event. The goal was to surpass “La víctima.” Honestly, the goal was not a global No. 1.
I know Xavi was signed two years ago, and shortly after, he was in a big car accident that required hospitalization, extensive plastic surgery and which sidelined him for a bit. How did that affect his development? Was there a tipping point?
I don’t think this happened overnight. And we’ve always been working on music since he got signed, and that’s what it’s all about: A&R and creating awareness. He really wasn’t doing media because he was going through a moment there with the accident. But he came out of it and he wanted to give it his all. Everything clicked all at once, even though it was two years in the making. But I want to stress: It wasn’t overnight. We have four songs now on the global charts. And that’s rare nowadays. We have great respect for the indie labels but it’s not like he was going viral and we signed him. Interscope came across a video, they shared it with Nir, Nir decided to sign him. I think it’s a big success for a major label that we were able to get an artist from zero to getting on the global charts, and hopefully, next he’ll become a global superstar. Really rare nowadays.
Are there any specific examples of how the Latin team collaborated with Interscope’s general-market departments on “La Diabla”?
Once the record gained traction, we collaborated with Gary Kelly‘s team (Interscope’s GM/chief revenue officer) to expand its reach beyond Latin playlisting, successfully securing a spot on Spotify’s Today’s Top Hits. All the DSPs have been very supportive, but it hasn’t been automatic. We are also closely working with Cara Donatto (executive vp/head of media) and Xavier Ramos (executive vp of pop & rock marketing) and their respective teams on general-market media outreach and marketing initiatives.
What’s next for Xavi?
He recently signed with WME and we’re working hand in hand with them and working on a tour. He recently signed a publishing deal with Universal Latin. We don’t have plans for an album yet, so we will keep releasing singles. And we’re releasing the video for “Sin Pagar la Renta,” which never had a video when it was originally released last year. That’s also unusual.
Audacy is expected to file for Chapter 11 bankruptcy after reaching an agreement with its lenders, according to a report at the Wall Street Journal. The prepackaged bankrupcy would be financed by the lenders, who would take ownership of the radio company following the restructuring, the report said.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
An Audacy spokesperson had no comment when contacted by Billboard.
Audacy, formerly named Entercom, is saddled by $2 billion in debt acquired primarily from its 2017 merger with CBS Radio. That deal expanded Audacy’s revenue but also increased its debt nearly fourfold from $468 million at the end of 2016 to $1.86 billion at the end of 2017.
The Philadelphia-based company’s portfolio of about 230 radio stations includes WCBS in New York, KROQ in Los Angeles, WFAN Sports Radio in New York and WBBM Newsradio in Chicago. Audacy’s podcasting brands include two studios, Cadence13 and Pineapple Street Studios, and Popcorn, an online marketplace for connecting creators and brands.
The company sounded alarm bells in May when it warned that a weak financial outlook could cause it to default on its debt. In an SEC filing, the company said “macroeconomic conditions” such as rising interest rates and depressed advertising revenue “have created, and may continue to create, significant uncertainty in operations.” As a result, its forecasted revenue was “unlikely to be sufficient” to maintain its debt covenants.
Third-quarter revenue of $299.2 million was down 5.6% year over year and in early November its fourth-quarter revenue was on pace to decline 9% from the prior-year period. Noting the company’s “current challenges,” CEO David J. Field said Audacy was in conversation with its lenders to recapitalize its balance sheet.
In recent months, Audacy has reached agreements with a number of lenders to extend the grace periods for interest payments from a credit facility and outstanding notes.
Audacy was delisted from the New York Stock Exchange the May for violating the exchange’s rules on minimum share price. It has since traded over the counter. Although a 30-for-1 reverse stock split increased the share price from $0.07 to $2.13 on June 30, the stock lost nearly all its value over the next six months.
On Wednesday, Audacy shares closed at $0.1896 per share, giving the company a market capitalization of less than $900,000.
Imitation might be the “sincerest form of flattery,” but it isn’t always copyright infringement.
That was the unusual message from an Illinois federal judge Thursday, as she dismissed a lawsuit accusing French Montana (Karim Kharbouch) of illegally sampling from a little-known Chicago hip hop producer on his song “Ain’t Worried About Nothin’.”
Eddie Lee Richardson – aka Hotwire The Producer – had claimed that French’s 2013 hit ripped off his instrumental song “Hood Pushin’ Weight.” But Judge Nancy L. Maldonado ruled that the superstar’s song did not technically infringe the rights owned by Richardson.
“The mere fact that the songs may share certain musical elements is simply not enough for a jury to conclude that such sampling actually occurred,” the judge wrote, ending the lawsuit.
Though she sided with French, Judge Maldonado was highly sympathetic to Richardson. She included an unusual note at the end of the ruling, stressing that it was merely a “technical win” for French — and one that he “should not claim as a substantive victory.” And she repeatedly suggested that, had Richardson secured a more complete set of intellectual property rights, the outcome might have been different.
“If it is any consolation, imitation is the sincerest form of flattery, and the Court hopes that Richardson will not be deterred in his musical endeavors, now armed with a better understanding of copyright law,” Judge Maldonado wrote. “As it is, though, Richardson’s evidence in this particular case is insufficient to establish copyright infringement.”
Richardson sued French in 2019, claiming the star and others stole core elements from “Hood Pushin’ Weight” – an instrumental track Richardson published in 2012 on the platform SoundClick – when they wrote “Ain’t Worried About Nothin’,” which reached No. 14 on Billboard’s Hot Rap Songs chart in August 2013.
But the fatal flaw in the lawsuit, as explained by Judge Maldonado on Thursday, was that Richardson only secured a copyright registration to the song’s sound recording, and did not lock up such protection for the underlying musical composition. That means that French would only have infringed “Hood Pushin’ Weight” if he directly sampled from it, the judge said, and not if he merely made a song that included similar music elements.
“Unfortunately for Richardson, his express admission in this case that he has only a sound recording copyright, and not one for a musical composition, means that he does not have exclusive rights in the generic sounds or melodies of HPW,” the judge wrote.
If he had gone the extra step and registered for a copyright on the musical composition, Judge Maldonado said the outcome of the case “might have been very different” than Thursday’s dismissal.
“In that case, Richardson’s expert evidence as to the similarity of the ‘sounds’ or melodies of the songs likely would have been enough to send this case to trial,” the judge wrote. “But with a sound recording registration only, Richardson’s means for establishing infringement are much more limited.”
With his more restricted rights, Richardson needed to provide evidence that French or someone else involved in “Ain’t Worried About Nothin’” directly copied his actual recording into the new song. But Judge Maldonado said the producer had “failed to do so.”
It likely won’t mean much in the wake of a failed lawsuit, but the judge said she had “great sympathy for Richardson’s situation.”
“He created HPW as a teenager, registered a copyright on his own, and brought this action seeking to protect his rights in his original work of music, as provided under the Copyright Act,” the judge wrote. “Unfortunately for Richardson, in the Copyright Act, Congress established a very firm distinction.”
“Put plainly,” the judge wrote, “Richardson cannot bring a claim for copyright infringement of his sound recording based solely on the contention that the songs sound alike.”
Attorneys for both sides did not immediately respond to requests for comment on the decision.
Happy New Year! It’s time for another quick spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music.
ASM Global welcomed live music veteran and former artist manager Jason Rio as senior vice president of live entertainment and content development. In his new role, Rio will oversee ASM’s plans to grow its position in content generation for its arenas, stadiums, theaters and convention centers. Rio brings years of promoter expertise ranging from his time at Live Nation, where he held senior roles in the major Houston and Chicago markets, to his most recent assignment as vp of music for the Ambassador Theatre Group. In a past work life, Rio spent 20 years managing the likes of The Fray, Liz Phair, Michelle Branch and others. He also worked for Pres. Barack Obama’s re-election campaign in 2012 … Across the pond, Andy O’Sullivan joined the company as CEO of landmark multi-use event space Olympia London. He arrives following an 11-year run as venue director at Tottenham Hotspur Stadium. “I’m incredibly excited to be joining such a transformational project at such a critical time, one that’s taking shape right here in London!” he said.
Wise Music Group hired Betsey Perlmutter as vice president of Schirmer Theatrical, the company’s concert and theatrical production arm. In her new position, Perlmutter will focus on leveraging WMG’s global catalog across symphonic, ballet, concert and theatrical disciplines. She is best known as former producer and artistic planning manager for the New York Philharmonic at Lincoln Center, where she oversaw the expansion of non-traditional concert programming, spanning musical theater, contemporary opera, chamber music and the launch of The Art of the Score film music series. Prior to the Phil, she held positions at Wave Hill Cultural Center and the New York Public Library. “Betsey’s extensive experience with the New York Philharmonic at Lincoln Center is invaluable to us as we embark on this new stage of international creative rights development,” said Robert Thompson, president.
DICE hired Piper McCoy as vp of communications, overseeing campaigns, executive profiling, thought leadership initiatives and government affairs comms. She previously held the same role at Buzzfeed, and has held key roles at Rush Communications, Roc Nation, New Era Cap and Walmart. “With over 20 years of experience across the media, sports and entertainment industries, Piper has been brought on board to build DICE’s stakeholder and industry engagement, drive growth across Europe and the US, and guide DICE in reshaping the live music industry through impactful strategic storytelling campaigns,” the company said in its announcement.
Board Shorts: The Golden Globe Foundation, formed last year following the award show’s sale to Eldridge Globes, elected its officers and board of directors for the year. Veteran photojournalist Earl Gibson III will serve as board chair, freelance journalist Henry Arnaud as treasurer, and leadership consultant Tom Kittleson as secretary. The foundation’s board also includes Silvia Bizio, Mia Farrell, Jeff Harris, Helen Hoehne, Adam Tanswell, and Meher Tatna.
Sony Music’s AWAL promoted a pair, putting Jacqueline Rossi in charge of the company’s global commercial partnerships team and Dale Connone at the helm of streaming and promotion efforts. Rossi was most recently senior director of global commercial partnerships, while Rossi led initiatives related to digital services. He also helms the independent label service IN2UNE, an AWAL-owned music coalition.
Dale Watson’s annual Ameripolitan Music Awards hired industry mainstay Roger Christian as head of marketing and promotion ahead of its 10th annual show, taking place Feb. 18 at The Moody Theater in Austin. With over 40 years of experience in the bank, Christian has held senior roles at MCA, Sony/CBS, Jem Records Texas and Big State Distributing, among others, and most recently centered his efforts growing his Roger Christian Entertainment Group. “Promoting the Ameripolitan Music Awards is the kind of challenge I love,” Christian said. “I’m so very honored to be working with Dale, Celine and all the incredibly talented artists in Ameripolitan Music.”
Last Week’s Turntable: BMG Lifer Heads Back to Berlin
With climate change having an increasing effect on the music industry, Billboard is partnering with the Music Sustainability Alliance to help foster impactful solutions to this urgent issue.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
Billboard will be the official media partner of the inaugural Music Sustainability Summit, happening Feb. 5 at the USC Campus in Los Angeles. Produced by the Music Sustainability Alliance, the event marks the first music industry climate summit in North America.
“Billboard is delighted to be partnering with the Music Sustainability Alliance to amplify their essential work in educating the music industry about climate action,” says Billboard‘s Chief Brand Officer Dana Droppo. “Dedicating our attention to environmentalism is an investment in future generations of fans and artists alike, and we can’t wait witness the exchange of ideas at this inaugural Summit.”
The Music Sustainability Alliance provides science-based solutions, business case analyses, best practices, and tools for operational change across the music industry. Tickets for the Summit — running 9 a.m. to 5:30 p.m. — are available on a sliding scale between $25 and $200 and are available now.
“The MSA is thrilled to partner with Billboard to advance meaningful climate action in the music industry,” adds Music Sustainability Alliance President and Co-founder Amy Morrison. “With the support of Billboard, The Summit will become an annual gathering of the tribes, bringing together the MSA team, our diverse group of stakeholders and new advocates.”
The Summit will feature speakers including Lindsay Arell, head of sustainability at ASM, Maggie Baird the founder of Support + Feed, John Fernandez, the director of the Environmental Solutions Initiative at MIT, Adam Gardner, the co-founder and Co-Director of REVERB (and also the guitarist and vocalist for Guster), Garrett Keraga, the senior manager of sustainability, policy & advisory at ClimeCo, Cassie Lee, the CEO of Sound Future, Michael Martin, the CEO and founder of r.World & Effect Partners, Amy Morrison, the president & co-founder of the the Music Sustainability Alliance, Lesley Olenik the vice president of touring at Live Nation and Jake Perry, the director of operations at C3 Presents. See the complete program here.
Verswire — a venture capital music startup launched by Veeps founder/COO Sherry Saeedi, Blink-182‘s Mark Hoppus and Lippman Entertainment partner Nick Lippman, with Fall Out Boy’s Pete Wentz on board as a strategic advisor — raised $12.3 million in seed and Series A funding led by E.O.A. Productions and idobi Radio along with Warped Tour founder Kevin Lyman and Foo Fighters tour manager Gus Brandt. Concurrently, Verswise announced a new publishing arm set to launch this year in partnership with Kobalt Music Group.
Verswire has been described as a development incubator for both emerging and established artists that tailors a custom investment for each, including “funding, resources, tools, mentoring, support from prominent music executives and an ecosystem to own and operate their businesses within while allowing them to keep majority ownership of their masters,” according to a press release at launch. The company has signed two artists thus far: Beauty School Dropout and brand-new signee Girlfriends, an alt-rock duo composed of Travis Mills and Nick Gross.
Oscilloscope Laboratories has acquired North American rights to director Alexandria Bombach’s Indigo Girls documentary Indigo Girls: It’s Only Life After All, which premiered on the opening night of the 2023 Sundance Film Festival. The distributor is planning a theatrical release for the film in the spring.
BMG acquired the majority of the recorded music catalog of French pop singer and composer Alain Chamfort. The acquisition comprises 13 albums, including Poses, Amour Année Zéro, Tendres Fièvres and Secrets Glacés as well as some of his biggest hits, including “Manureva,” “La Fièvre Dans Le Sang” and “Géant.” BMG will release Chamfort’s future recordings, including a four-track EP with Sébastien Tellier in January and a new studio album, L’Impermanence, in March. BMG will subsequently reissue several of Chamfort’s previous albums.
Additionally, BMG has strengthened its interest in Berlin band NENA‘s catalog, including the band’s global smash hit, “99 Luftballons.” Adding to its existing shares in the catalog, the company has acquired singer Nena’s U.S. recording copyright and ROW artist royalties, along with three band members’ artist shares. Other songs in the NENA catalog including “Nur geträumt,” “Leuchtturm,” “Irgendwie, irgendwo, irgendwann” and “? (Fragezeichen).”
Iron Horse Acquisitions Corp., a special purpose acquisitions company (SPAC), has raised $69 million from an initial public offering of 6,900,000 units at $10 each. Each unit consists of one share of common stock, one full warrant and one right to receive one-fifth of one share of common stock upon the consummation of an initial business combination. The company’s units are listed on the Nasdaq and started trading under the ticker symbol IROHU on Dec. 27. Founded by Jose A. Bengochea, who serves as CEO, Iron Horse is described as a media and entertainment-focused blank check company that will focus on deals spanning verticals including music rights aggregators, music licensors, international music labels, K-pop, AI, production studios, celebrity-backed content creators, gaming, fantasy sports, social media marketers and talent management.
TRINITI, a generative artificial intelligence platform powered by music tech studio CreateSafe, has partnered with newly launched music production platform SOUNDS.STUDIO, which will use TRINITI technology to provide an in-browser music and audio AI tool allowing users to create and distribute music all in one place. TRINITI previously made news for powering Grimes‘ AI voice model. Under the new deal, SOUNDS.STUDIO will allow its users to have the GrimesAI voice model on their own music and then distribute it to the major streaming platforms via TRINITI’s distribution channels.
Lyrics licensing and data solutions company LyricFind acquired technology company Rotor Videos, which makes it easier and more cost-efficient for artists and labels to create video content for Spotify Canvas, Apple Motion Art, social media platforms and more. The Rotor Videos team will continue to be led by founder/CEO Diarmuid Moloney, who will report to LyricFind founder/CEO Darryl Ballantyne. Along with the acquisition, LyricFind and CD Baby have struck a partnership to launch integrations of the Rotor Videos tool and LyricFind’s video enterprise solution, enabling CD Baby artists to create video content directly on the CD Baby platform.
ADA Worldwide has struck a distribution partnership with Omnivore Recordings covering the label’s entire catalog along with new releases. Omnivore specializes in historical releases, reissues and previously unissued vintage recordings, as well as select releases of new music, on CD, vinyl and digital. Omnivore’s catalog includes recordings by such acts as The Muffs, Alex Chilton, Laura Nyro, Stephen Stills and Blood, Sweat & Tears.
ASM Global has renewed its management contract with the Wilmington Convention Center in Wilmington, N.C., extending the relationship through 2028. The relationship between the two extends back to 2008.
Colombian hemp and cannabis producer One World Products partnered with Kx Family Care, a CBD-enriched personal care product line created by Stephen Marley and Shelly O’Neill. Under the deal, One World will produce and distribute Kx Family Care products in Colombia and Latin America, with the two companies collaborating on efforts to market and distribute the products.
Kids’ music brand KIDZ BOP struck an exclusive apparel licensing deal with IHL Group. An all-new KIDZ BOP apparel line including activewear, intimates, sleepwear and loungewear is set to hit North American retailers in the third quarter of 2024.
Virgin Music Group has acquired Saban Music Latin, it was announced on Thursday (Jan. 4). The deal comes five years after entertainment mogul Haim Saban invested $500 million to launch Saban Music Group, and two years after the music company launched its Latino division.
Under the terms of the transaction, Virgin Music — a division of Universal Music Group — will acquire Saban Music Latin’s catalog, which includes such artists as Jon Z, Reykon and German Montero. It will also release future albums by Saban Music Latin artists.
Saban Music Latin’s roster includes emerging L.A.-based pop artist Loyal Lobos, Puerto Rican singer-songwriter Chesca — who has scored two No. 1 songs on Billboard‘s Latin Airplay chart (“Súbelo” and “Te Quiero Baby”) — and rapper-producer YoGambii.
Saban Music Group launched in 2019 as a music company with a Latin focus and with veteran music executive Gustavo Lopez as CEO. Lopez was the longtime GM and executive vp Universal Music Latin, where he launched Latin urban label Machete Music, home to artists like Wisin & Yandel and Don Omar, and also ran Universal Music Latin Entertainment’s regional Mexican labels, Fonovisa and Disa. After leaving UMLE in 2017, he launched indie music company Talento Uno, which was acquired by Saban.
In 2020, Saban Music Group entered into an exclusive global administration agreement with Universal Music Publishing Group — and in February 2022, it announced it was launching a Latin division with Alejandro Reglero in the role of executive vp/GM, reporting to Lopez.
The acquisition follows Virgin Music Group’s recent partnerships with other Latin labels, including DEL Records, the West Coast-based independent label home to Latin music’s biggest song of 2023, “Ella Baila Sola” by Eslabon Armado and Peso Pluma. In November, Virgin Music also announced a worldwide agreement with Pepe Aguilar‘s two regional Mexican labels, Machin and Equinoccio Records.
The Virgin Music Group roster already includes such Latin stars as Espinoza Paz, Sech, Grupo Firme, Tainy and Angela Aguilar.
On a recent balmy December afternoon in Los Angeles, The Black Music Action Coalition (BMAC) sponsored a panel discussion on wellness for students at King/Drew Magnet High School of Medicine and Science. BMAC co-founder and chair Willie “Prophet” Stiggers was joined on the panel, titled Healing Through Music, with other music industry professionals who shared their wellness journeys.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
The students at King/Drew are held to high standards and face a rigorous curriculum. They’re also teenagers who are navigating all that comes with this stage of growing up, including their fast-approaching post-high school lives. While this can be exciting, it can also bring up uncertainty and anxiety.
Moderated by entertainment attorney, activist and BMAC founding member Dina LaPolt of LaPolt Law, P.C., the panelists included LaPolt’s client artist and songwriter Iann Dior, wellness and mental health expert Rebecca Kordecki, and songwriter/producer Maejor. The panelists discussed their mental health struggles and how they learned to cope. LaPolt has long been a supporter of King/Drew High School and has been a mentor to several students.
“I want to talk to you about something that’s very important in today’s world, especially after the pandemic, which is wellness,” LaPolt shared in her opening remarks to students just before holiday break. “Emotional, physical, and mental wellness. Anxiety, all kinds of depressing disorders can happen… it’s a lot.”
Songwriter, producer and podcast host Maejor travels to underserved communities and teaches about breath work, wellness and the importance of “setting intention.” Maejor’s journey to wellness began when he was diagnosed with cancer. It was during this time that he was bombarded with info on healing, some of which he had a hard time taking seriously. His interest was piqued by what he was learning about the effects of sound on well-being, and he highlighted the chanting of monks as an example. He was inspired to use what he was learning from science, the spiritual community and the music industry.
For several minutes, Maejor filled the auditorium with one of his compositions that he described as utilizing the A444 frequency — the relaxation frequency.
Wellness and mental health expert Rebecca Kordecki has worked as a motivational speaker for over 20 years. It was during this journey to wellness, that she discovered the importance of breath work. “We breathe involuntarily,” Kordecki told students. “The beautiful thing about breath is that we can voluntarily manipulate the breath to do things for us. For instance, we can manipulate the breath to give us energy, we can manipulate it to calm us down, we can manipulate to put us to sleep at night. So, learning how to use the breath is a really powerful tool.”
She added, “Eight years ago, I discovered breath work and it changed the game for me. I was doing fitness training, working with celebrities and doing all these amazing things but from the outside in. Helping people get six pack abs, feel stronger, and make better movies and all those things, but they were still unhappy inside, I would notice. I thought, how can I get people to connect with their inside while working with them on the outside? That’s when I started to incorporate breath work into the work I do with clients so that they can connect to themselves.”
Kordecki lead everyone in a few breathing exercises, including “box breathing”, which she demonstrated as a four-count inhale, a four-count hold, and then a four count exhale. The technique is often used to help young children learn to regulate their emotions. It is also a great tool for handling anxiety.
Iann Dior, who was impressed the students got out of class to attend the event, was the most in his element, and related easily with the students. At only 24, Dior has already achieved multi-platinum status with “Mood,” his 2020 Hot 100 No. 1 with 24KGoldn.
“One way that I find myself, calming myself down before I go out on stage and everything, is just being by myself,” Ian shared. “I go into the room, and I chill and kind of talk to myself. I remind myself, ‘You’ve been through a lot. You’ve seen a lot of things that normal kids don’t have to see’ … and I remind myself that I’m thankful for all those bad times.”
“Anytime something bad happens, or something doesn’t go my way, I’m thankful for it,” he continued. “I talk to myself, and ask myself, why is this happening, because I need to overcome this and next time something happens again, I move past it.”
He invited the audience to share their stories of what is troubling them. A student near the front shared how it’s been a stressful week due to final exams, and how her academic performance affects her self-esteem. Another shared, through nervous giggles and tears, that she’d been fighting with her friends and learned that her boyfriend had been cheating on her.
Prophet acknowledged from the stage that everyone has experienced that pain and that everyone could relate.
Ian asked the audience to raise their hand if they had a goal or a dream for their life. He shared that at one point he was homeless while living in Puerto Rico. He shared that focusing on what would happen if he didn’t do something to achieve his dreams and advised setting realistic goals and working towards them.
LaPolt then gave the audience a parting task: “When you get home tonight, I want you to look into the mirror and give yourself a high-five and say you got this. That’s want we got to do. We’ve got to motivate each other, but the first thing you have to do is motivate yourself.”