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Nigerian DJ/producer Spinall has officially signed with Epic Records, the company tells Billboard.
“Spinall is one of the continent’s best musical exports. A preeminent curator and driver of culture. His collaborations have the potential to take music from Africa to new heights globally, and we are extremely energized about our partnership with him here at Epic,” says Ezekiel “Zeke” Lewis, president of Epic Records, in a statement to Billboard.
“It’s really, really tough when you’ve been independent for a minute. But after discussing with Sylvia [Rhone, CEO/chairwoman of Epic Records] and Zeke, they gave me the most confidence that I would ever need — bringing me on, speaking to me and listening and being so sweet. Sylvia and Zeke convinced me in the first meeting that I’m home,” he tells Billboard.
“They have a proven record of doing amazing partnerships with different talents from all over the world. So I’m super excited, and there’s gonna be a lot of good music. I’m excited to be working with a set of people who genuinely love music. We just want to spread the gospel of good music all around the world.”
Spinall (real name Oluseye Desmond Sodamola) is already spreading the word through his new single “Loju” featuring Wizkid, which he released today (June 30) as his official Epic debut. “It’s a very special record because of our history together as partners in making some of the best Afrobeats records,” he says of his frequent collaborator, with whom he’s worked on “Nowo,” “Opoju,” “Dis Love” (with Tiwa Savage) and more. “Wizkid is someone I respect a lot. He has done collaborations with everybody on the continent, and he’s still doing it. Every time we link up, the energy is just different. Our friendship is beyond the music.”
“Loju” arrives four months after he released his sixth studio album, Top Boy, on Feb. 17 via his own record label/management company, TheCAP Music. Top Boy — which was featured on Billboard‘s 50 best albums of 2023 (so far) list — contains hit singles “Sere” featuring Fireboy DML (and 6lack on the remix) and “Palazzo” featuring Asake, the former of which has 16.3 million official on-demand streams in the U.S. and 71 million official global on-demand streams.
“Palazzo” peaked at No. 6 on Billboard‘s U.S. Afrobeats Songs chart, while “Power (Remember Who You Are)” featuring Summer Walker, DJ Snake and Äyanna — which was originally featured in The Flipper’s Skate Heist short film and then added to Top Boy — peaked at No. 16 on Hot Dance/Electronic Songs.
“A lot of amazing records on the tape. The whole goal behind that is to spread the music and spread the entire culture of what we do in Africa,” he says.
After receiving his BSc degree in electrical and electronics engineering at Olabisi Onabanjo University in Nigeria’s Ogun State, Spinall attended several DJ schools to hone in on his musical talent. In 2014, he launched TheCAP Music, which stands for “TheCrazyAzzParty” and also symbolizes the traditional Yoruba caps he wears, and signed producers Killertunes and Stunna the following year. He had previously signed an international record deal with Atlantic Records U.K. and a publishing deal with Warner Chappell Music U.K. Spinall has released all six of his albums through TheCAP Music.
Last year, he opened for Bruno Mars in Sydney, Australia for two nights and DJed at Jay-Z‘s Oscars Gold Party. “My work speaks for itself…. I’m not new to the big stage,” Spinall says. “There’s no other goal than making happy music. If you look at my discography, that’s what I’ve done over the years and that’s what I’ll continue to do till the day I die!”
For management, Spinall is represented by Tolulope Shodamola, COO/general manager of TheCAP Music, as well as LVRN’s Tunde Balogun (president/co-founder), Amber Grimes (executive vp/general manager) and Justice Baiden (head of A&R/co-president).
Ticketmaster owner Live Nation’s push for legislative ticketing reform earlier this year has actually slowed down progress on those issues, sources tell Billboard, stalling a long-in-the-works bill that addresses nearly identical concerns about the ticketing business.
Last year, even before Taylor Swift’s Eras Tour presale fiasco inspired a flurry of ticketing reform bills, the National Independent Venue Association (NIVA) had been working on a wide-reaching piece of legislation in cooperation with Sens. Amy Klobuchar (D-Minn.) and John Cornyn (R-Texas) to “combat predatory and deceptive ticketing practices,” according to sources close to the issue. The bill included bans on deceptive practices and speculative listings, enforcement of existing anti-bot laws and new tools for countering ticketing fraud. Its most substantive change took aim at the secondary ticketing industry, granting artists and tour promoters sweeping power to reduce ticket scalping by allowing artists to set legally binding rules on how and where their tickets are resold, according to a November 2022 memo reviewed by Billboard. Besides NIVA, Universal Music Group, Wasserman Music, Dice and See Tickets were all among the broad coalition of music companies supporting the effort under the coalition name Fix the Tix.
But, for months, the bill has languished — even as attention around ticketing has grown considerably following a Senate Judiciary Committee hearing in January on competition within the ticketing industry. That’s because of increased lobbying by pro-scalper groups and a decision in February, by Ticketmaster owner Live Nation, to unveil the FAIR Ticketing Act, a five-point proposal with a list of legislative fixes — and the recommendations were very similar to the fixes NIVA had been quietly lobbying for.
With NIVA representing thousands of independent venues and Live Nation representing its huge corporate portfolio, the two entities often have opposing agendas, and some NIVA members theorized that Live Nation was attempting to sabotage their bill. Worried that supporting a similar proposal would look like politicians were rewarding Ticketmaster at a time when outrage at the company was growing, momentum around the NIVA bill waned. Klobuchar’s office, which had planned to announce a bi-partisan bill with Cornyn in the spring, delayed its announcement amid new concerns that the bill might strengthen Ticketmaster, sources close to both Live Nation and NIVA tell Billboard. They add that the FAIR Ticketing Act was neither a clone of the proposed NIVA bill nor a poison pill.
“Live Nation and Ticketmaster have been the target of the Senate since the two companies merged in 2010,” says one NIVA member speaking on the condition of anonymity. “There’s an appetite in D.C. to punish Ticketmaster, but the reality is that there’s no way to pass a law that would both punish Ticketmaster and bring about the types of reforms needed to clean up the ticketing business.”
Case in point: On April 28, Klobuchar’s office introduced legislation with Senator Richard Blumenthal (D-Conn.) that would have banned ticketing companies like Ticketmaster from signing venue clients to long-term exclusive contracts. The proposal has faced opposition from some members of NIVA, who argued it would hurt small venues that relied on the payments from those contracts, and that fans would likely have to make up for the loss through higher ticket prices. A representative for Live Nation previously told Billboard the proposal wouldn’t “have a material impact on our business as we historically add clients in competitive marketplaces.”
As for similarities between the NIVA-backed bill and Live Nation’s proposal, “It’s not surprising that the two groups that spent the last six months thinking about legislative fixes [to] the same issue came up with similar solutions,” said one source close to Live Nation, noting that much of the friction between NIVA and Ticketmaster has subsided.
Ticketmaster officials appear to have gotten the message and have toned down the rhetoric around their political efforts. Many of the campaign efforts have been picked up by NIVA, which successfully lobbied for $15 billion in federal aid for venues negatively impacted by the coronavirus pandemic in 2021. Now, sources say, the Fix the Tix bill is expected to be proposed in the next couple of weeks.
Leading the charge at NIVA is the organization’s executive director, Stephen Parker. A longtime D.C. insider who worked with Sen. Tim Kaine when he was the governor of Virginia, Parker spent a decade at the bipartisan National Governors Association and has served on the board of the Country Music Association.
Parker confirmed to Billboard that neither Live Nation nor Ticketmaster has signed on as official supporters of the Fix the Tix coalition, while he and others are being extra cautious not to make their legislative package a referendum on Ticketmaster. Still, the Live Nation-owned company will play an outsized role in the Fix the Tix plan, as opponents are getting ready to paint the proposal as a major power shift to Ticketmaster and away from scalpers.
The Fix the Tix proposal would “make it illegal for resellers, professional ticket brokers, and ticket platforms to violate the artists’ and venues’ ticket terms and conditions, including restrictions that prohibit price gouging of fans through the resale of tickets above face value,” according to an early draft obtained by Billboard. That means artists, venues, or promoters could place ceilings on how much tickets are allowed to be marked up or restrict ticket resale until after all primary tickets have been sold. Since Ticketmaster and AEG are the only two companies on the market with technology that can track tickets after they’re sold to see if they are being resold and for how much, however, critics say this sort of law would create an even greater dependence on their services.
That’s far more power than Ticketmaster should have, says John Breyault, vp of public policy at the National Consumers League and a founding board member of the Fan Freedom Project, an advocacy group fighting restrictions on resale that receives funding from StubHub and Vivid Seats. “Ticketmaster does not want to eliminate resale; they want to control resale,” Breyault says. The current proposals by Ticketmaster and NIVA could bankrupt major secondary resale sites, especially if most tours decided to make their tickets non-transferable. Once Live Nation “got rid of its competitors,” Breyault says the company could convince the artist it works with to lighten up on ticket transferability and effectively “own the resale market.”
To a degree, Fix the Tix is a response to the dozens of pieces of pro-scalping legislation and lobbying that have been proposed at the state and federal levels over the past six months. This Fix the Tix bill would seek to overrule any state-level legislation that exists; there are currently over a dozen states with laws that outlaw restrictions on ticket transferability, meaning anyone can resell tickets at any price they want.Others, like Rep. Bill Pascrell’s (D-NJ) BOSS and SWIFT Act — which Breyault supports and the Fix the Tix coalition opposes — would permanently legalize scalping by making it illegal for ticketing companies to restrict ticket transferability.
Last year, the American Economic Liberties Project, which is funded by Pierre Omidyar — former chairman of eBay and owner of Ticketmaster rival StubHub — announced the “Break Up Ticketmaster,” campaign, aimed at pressuring the DOJ “to investigate and unwind the 2010 Live Nation-Ticketmaster merger,” according to the group’s website.
Opponents of scalping say the BOSS Act would make it impossible for artists to keep their tickets off secondary sites and would allow all scalping sites to sell any tickets they wanted without restriction. Proponents, however, believe that outcome is better for fans than allowing Live Nation and the artists it works with to make these decisions.
While the scalpers and the concert promoters are far apart on most issues, the rival bills do share consensus on a number of practices in ticketing that have long drawn the ire of fans. Those include speculative ticket listing, drip pricing and misleading marketing campaigns — all of which would be banned by both NIVA’s proposal and the BOSS and Swift Act.
Editor’s note: Billboard has updated this story to more accurately describe the work performed by the American Economic Liberties Project.
Ozuna has signed with Scooter Braun‘s SB Projects, Billboard has learned. The management deal is a partnership with Edgar Andino, founder and CEO of Andino Marketing Group. The Puerto Rican star joins a SB Projects roster that includes Justin Bieber, Ariana Grande and Demi Lovato, among others. The company also previously managed Colombian powerhouse J Balvin, who parted ways with SB in June 2022 and is now signed to Roc Nation.
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“We’ve been following Ozuna’s career for years and we’re excited to be bringing him into the family to work with him and Edgar,” Jennifer McDaniels, president of management at SB Projects, said in a statement. “Ozuna’s music is unmatched. His ability to work across genres including reggaeton, Latin pop, and more, is phenomenal. With unique songs offering fresh perspective and beautiful sounds, we’re thrilled to amplify his artistry with this partnership.”
“Working with Ozuna over these past years, one thing is for certain, we always go big,” added Andino. “For us, Scooter and SB Projects align with our vision. They are the perfect partners to help in our continued approach and take Ozuna to the next level of his career. We cannot be more thrilled and cannot wait for everyone to see what we have coming next.”
A key figure in Ozuna’s team, Andino has helped the singer-songwriter land global deals that range from NFT collaborations to releasing a song for the Call of Duty video game. Most recently, he led negotiations for Ozuna’s inclusion in the FIFA World Cup Qatar 2022 Official Soundtrack, performing “Arhbo” with rapper GIMS. The uplifting song, which they performed at the World Cup’s closing ceremony, peaked at No. 1 Billboard‘s Latin Airplay chart.
In May, he released Afro, a seven-track EP where he experiments with Afrobeats. It followed his 2022 studio album, Ozutochi, which landed at No. 5 on the Top Latin Albums chart. Ozuna is set to embark on his Afro Tour across Europe this summer, which has 16 confirmed dates, including stops in France, Spain, Italy, Israel and Holland. The monthlong trek kicks off July 7 in France and wraps Aug. 6 in Spain.
Universal Music Group Nashville has named Charlene Bryant as senior vp of business development & strategy.
Bryant brings with her a track record of experience and success in genres including country, Christian and hip-hop. The Ohio native and Belmont University graduate previously spent five years leading artist management company Riveter Management, which she founded in 2018. Bryant was named one of Billboard‘s R&B/Hip-Hop Power Players in 2020 and 2021 and was part of CMT and mtheory’s inaugural equal access development program.
“Charlene has spent her career in artist development and learning to merge cultures of Christian, R&B, Hip-Hop and Country music,” says UMG Nashville chair & CEO Cindy Mabe. “She’s had success at major labels and independents, as well as success as an entrepreneur. As Universal Nashville is investing deeper to expand our growth in partnering in innovation with entrepreneurs, the independent label sector as well as our sister labels, Charlene is the perfect person to help merge those worlds and cultures to help build the next era of Universal Music Group Nashville. I could not be more excited to have Charlene Bryant help build our vision.”
UMG Nashville’s latest hire comes under the leadership of Mabe, who officially took the chair/CEO reins of the label in April. In a memo to UMG Nashville staffers at the time, Mabe laid out a vision for the company going forward. Among her plans are to “dramatically expand our partnerships with independent labels and entrepreneurs.” Mabe added, “Inspiration and new ideas are coming from everywhere. Much of that innovation is coming from the independent sector, but by the same token there is so much more they could do if they partnered with us in key areas. Universal Nashville will actively take a role to position ourselves as the best partners to expand their growth and help develop and support these artists.”
As Mabe continues to build the leadership team at UMG Nashville, the company is also pulling from other industry sectors. In May, Chelsea Blythe was appointed as executive vp of A&R for UMG Nashville. Blythe previously served as senior vp of A&R at Def Jam, leading A&R efforts for artists including Armani White and 26AR. Blythe also worked at Columbia Records, signing artists including Baby Keem and developing artists including The Kid LAROI.
In the memo to UMG Nashville staffers in April, Mabe said the company also aims to “collaborate even closer (and more creatively) with our label colleagues around the world where we can leverage each other’s strengths to break artists who are either signed to their rosters or ours. There’s so much more we can do together.”
As part of that work with UMG Nashville’s sister labels, the label also recently announced its partnership with Capitol Christian Music Group to release new music from Grammy-nominated artist Anne Wilson (“My Jesus,” “Sunday Sermons”).
Paladin Artists announced on Thursday that veteran agent Bruce Solar has joined the company, effective immediately. He’ll focus on expanding the company on a global scale. Solar will be based in Los Angeles and brings his roster of clients with him, including Blondie, Cake, Psychedelic Furs, The Zombies, Radical Face, Eels, Fantastic Negrito, The Monkees […]
SYDNEY, Australia — Josh Simons is the new CEO of Jaxsta.
The Vampr co-founder succeeds Beth Appleton, who steps down as CEO with immediate effect, reads a statement issued Thursday (June 29) to the Australian Stock Exchange (ASX).
Simons takes the reins at Jaxsta Limited, the world’s biggest database of official music credits, following the completion of the acquisition of Vampr on June 1, 2023, when he was named as chief strategy officer.
Going forward, he’ll continue in those duties in addition to his appointment as CEO.
“The board thanks Beth for her significant contribution to Jaxsta during a period of growth and change,” comments Jaxsta chair Linda Jenkinson. “We wish her all the best for her future.”
Appleton departs some 14 months after her own promotion from chief marketing officer to the top job.
Born in Britain and now based in Sydney, Australia, Appleton joined Jaxsta in July 2021 from major label-land, including stints with Universal Music Group, Warner Music Group, and EMI. During her ten-year run with WMG, she earned a reputation as one of the best in the business, and plaudits in Billboard’s “Women In Music” feature.
“I will relish my time at Jaxsta and the initiatives that I drove,” she comments. “I wish Josh, and the incredible team, all the very best for the future. I’m proud to have been a part of the Jaxsta evolution, and look forward to watching the business continue on its mission.”
Jaxsta is Australia’s only ASX-listed music business.
The incoming chief executive takes the helm at a business that, currently, boasts more than 343 million official, deep-linked music credits across 107 million pages, sourced from over 359 data partners.
Last week, WiseTech founder and CEO Richard White became a substantial shareholder in the company as part of its A$3 million capital raise.
“I’ve been following Josh Simons for a number of years as the founder and CEO of Vampr,” White explains. “I have been impressed by his tenacity, focus, vision and particularly the ability to build a commercial model that grows and retains revenue and customers. Now that Vampr is a part of Jaxsta, Josh will, no doubt, contribute his drive, skills and experience to the larger business. I see his contribution will be able to create a clear path to revenue and profitability for Jaxsta.”
Simons co-founded Vampr in 2015 with Barry Palmer. Today, it’s recognized as the leading social-professional network for musicians, boasting 1.3 million users and facilitating over eight million connections.
“Jaxsta has a clear vision and product roadmap going into FY24, and that’s a credit to the Board, Beth and the team who have done a remarkable job,” Simons comments. “Revenue, cost efficiency and profitability remain the top priorities for Jaxsta and I look forward to building on the current momentum. We have the foundation for a transformational global music product as we continue to integrate Vampr into the business and scale the Vinyl.com platform.”
The changing of the guard closely follows Jaxsta’s Master of Metadata win at the Music Business Association’s Bizzy Awards 2023, and the launch of Vinyl.com, a new online store powered by Jaxsta’s official music credits. In April of this year, Jacqui Louez Schoorl announced her departure from Jaxsta, a decade after she founded the business.
Primary Wave has purchased a stake in the publishing catalog of Kool & The Gang founding band member and drummer George Brown, the company announced Wednesday (June 28). The sale also includes a stake in the Grammy winner’s writer’s share of his music publishing and the writer’s share of his public performance income.
The deal — which includes classics like “Ladies Night,” “Celebration,” “Get Down on It,” “Cherish,” “Jungle Boogie,” “Summer Madness” and more — is in the multi-million dollar range, according to Primary Wave.
In addition to Brown, Kool & The Gang is comprised of Robert “Kool” Bell, Ronald Bell, Dennis “Dee Tee” Thomas, Robert “Spike” Mickens, Charles Smith, Woodrow “Woody” Sparrow and Ricky West. The Jersey City troupe first got its start on indie label De-Lite Records, which released the band’s debut album, Kool and the Gang, in 1969. The group broke through in 1973 with its fourth album, Wild and Peaceful, which contained hits like “Jungle Boogie” and “Hollywood Swinging.” Pulling from funk, soul, R&B, disco and jazz influences, Kool & The Gang’s work also played a defining role in the soundtracks for Rocky (1976) and Saturday Night Fever (1977).
For its impressive body of work, Kool & the Gang has received two Grammy awards, seven American Music Awards and was inducted into the New Jersey Hall of Fame. The group also received a star on the Hollywood Walk of Fame, while Brown — along with bandmates Taylor and Robert and Ronald Bell — was inducted into the Songwriters Hall of Fame in 2018.
“I am very pleased to call Primary Wave my music partner and to join with dozens of other iconic artists and creatives in an incredible business family,” said Brown of the deal. “I look forward to collaborating with Larry Mestel and the entire Primary Wave team to further enhance my catalog and the Kool & The Gang brand.”
Kendall A. Minter, Brown’s legal counsel, added, “As counsel to George Brown and Astana Music, it was my pleasure to initiate, negotiate and close this deal with Primary Wave. The alignment of a globally iconic artist and creative talent with an iconic, global independent music publisher and brand enhancer is a win-win for the entire music community and fans.”
“Kool and the Gang’s influence on generations of musicians and fans around the globe cannot be denied,” said Primary Wave senior vp of business and legal affairs Samantha Rhulen. “A few of us from Primary Wave were excited to have been in the audience when they were inducted into the Songwriters Hall of Fame in 2018, and we are so thrilled to now be partnering with George Brown in 2023.”
South by Southwest has increased the rates paid to domestic artists performing at the annual festival in Austin by 40-50%, following a petition and rally demanding higher pay.
The 2024 event artist application, which opened Tuesday, outlines that solo artists performing at SXSW will receive $150 — a $50 rate increase from previous years. Bands will now be paid $350 rather than the previous rate of $250. As in years prior, international artists will not receive financial compensation.
Also consistent with previous years, domestic artists playing SXSW must choose to take a monetary payment, or receive an artist credential that includes primary access to all music-related events, artist-only amenities including special rates on hotels, meals and drinks and artist networking space, and secondary access to film and television related programming.
SXSW charges an all acts an application fee, which is $35 until Aug. 25 and then $55 until applications close on Oct. 27.
“Our purpose at SXSW is to help creative people achieve their goals,” said SXSW’s vp of music festival James Minor in a statement. “As an industry event, showcasing at SXSW provides indispensable networking, mentoring, and career development opportunities that are not a part of standard consumer-focused festivals.
“Artists continue to make connections at SXSW that further their careers, and it is essential for us to provide opportunities that make the most impact in supporting the thousands of artists who come to Austin every March.”
In April 2021, Penske Media Corporation, which owns Billboard, became an investor in SXSW by taking a 50% stake in the conference and festival.
The rate increase comes follows an artist-led petition from earlier this year that urged SXSW to increase compensation for musicians playing the festival. Published by the Union of Musicians and Allied Workers (UMAW), the petition was signed by more than 400 artists including Amber Coffman of Dirty Projectors, DIIV, Eve 6, Mountain Goats, Jeremy Messersmith, Speedy Ortiz, Zola Jesus, Pedro the Lion, YACHT and Emperor X, along with the Songwriters of North America (SoNA). On May 31, the organization led a rally outside Penske Media Corporation’s New York offices.
As reported by Texas Public Radio, during a Parks and Recreation Board meeting in Austin on Monday, Pat Buchta, the head of nonprofit Austin Texas Musicians, remarked on the rate increase, saying “Respectfully, is that enough? Our musicians do not think so, and musician input is the one thing that everybody seems to be missing in this conversation.”
The rapper Casanova has been sentenced to more than 15 years in prison on federal racketeering conspiracy and drug charges related to his involvement in what prosecutors called “a vicious street gang.”
A New York federal judge on Tuesday (June 27) sentenced the artist (real name Caswell Senior) to 188 months in prison after he pleaded guilty last year to one charge under the Racketeer Influenced and Corrupt Organizations Act (RICO), as well as a charge of conspiracy to distribute over 100 kilograms of marijuana.
Casanova, a Brooklyn rapper once signed to Jay-Z’s Roc Nation, was one of 18 men charged in 2020 for their alleged roles in the Untouchable Gorilla Stone Nation gang, which prosecutors said “committed terrible acts of violence” across the New York City region.
“Caswell Senior is not just a notorious recording artist, but he is also a high-profile leader of a vicious street gang and a magnet for gang violence,” U.S. Attorney Damian Williams said in a statement after the sentencing, adding that Casanova’s stature had helped the gang recruit and expand nationwide. “Gang life is not worth it and will lead to many years in prison.”
Prior to the criminal charges, Casanova had been an up-and-coming artist, peaking at No. 3 on Billboard’s Next Big Sound chart in 2019 after the release of his album Behind These Scars. Chatting with Billboard at the time, Casanova said he was hopeful for the future, but knew that his past could return to haunt him: “People will always blame you for your past. I’m ok with that; I just have to fight harder. I have to do more to get recognized.”
In December 2020, he was one of 18 defendants named in the sweeping RICO case over Untouchable Gorilla Stone Nation, which prosecutors said operated a violent narcotics operation across the NYC metro area, including the murder of a teenage boy in Poughkeepsie. The allegations even included “brazen fraud” for exploiting benefits programs providing assistance in response to the COVID-19 pandemic.
In May 2022, Casanova pleaded guilty to the RICO conspiracy charge and the drug charge. Among other things, he admitted to participating in a July 2020 shootout at a crowded Miami house party in which he personally shot a man, leaving the victim seriously injured.
Ahead of Tuesday’s sentencing, federal prosecutors requested a prison term ranging from 188 to 235 months, calling Casanova “a high-profile gang leader” who had “amplified the message of the gang” through his music, helping to recruit “a generation of new members.”
“He did not simply pretend to be violent in his music or on social media,” the government wrote. “Unfortunately, he walked the walk. Senior’s offense conduct is not about a few song lyrics or how he marketed his music. Rather, he carried out an array of violent activity and significant narcotics trafficking that benefited some of the gang’s most violent and impactful members.”
Casanova’s attorneys argued that he should receive a sentence well below those guidelines. They said he was “not involved in the gang’s daily activities” and had begun “to distance himself” from the group as his music career took off, including having “denounced gang life” in some public statements.
“The fact is that Mr. Senior stayed in this gang as it furthered his rap career,” Casanova’s lawyers wrote. “As he gained moderate success and then a recording contract with Roc Nation, he increasingly separated himself from the gang’s activities despite remaining a member.”
In a statement to Billboard on Wednesday, Casanova’s lawyer, James Kousouros, said he and his client were “gratified that the court acknowledged the productive messages that Mr. Senior had been giving against gang life over the past several years and sentenced him to the lowest end of the guidelines.”
The pace that global music industry revenues have been growing is expected to slow this year, as the industry is “on the cusp of another major structural change” stemming from the changing price of streaming subscriptions, artificial intelligence and new payment models, according to a closely watched report from Goldman Sachs.
In its latest Music in the Air report, published Wednesday, Goldman’s research analysts say they expect global music industry revenues in 2023 to grow by 7.1%, down from an 8% growth projection last year, as live music and publishing growth rates return to more normal ranges of 6% and 8% growth this year respectively. The compound annual growth rate for revenues from 2023 to 2030 ticked up slightly to 7.3%, from 7.1% last year, and streaming revenue is expected to hold steady at an 11%-growth rate, according to the report.
That indicates steady and even more broadbased growth, researchers say, but the industry is about to face a fresh wave of massive changes.
“We believe the music industry is on the cusp of another major structural change given the persistent under-monetisation of music content, outdated streaming royalty payout structures and the deployment of Generative AI,” Goldman researchers wrote in the new report. “In the wake of these developments, we believe a more coordinated and collaborative response from the main stakeholders will be key to ensure that the industry not only continues on its path of sustainable growth but also captures new business opportunities.”
Echoing a frequent refrain of music industry executives, Goldman’s researchers say monetization of music content is way behind the rate of consumption. They estimate that the revenue earned per audio stream has fallen 20% over the past five years, and that the revenue companies earn per hour of music streamed on Spotify is four times lower than for Netflix.
They estimate that up to $4.2 billion in potential revenue could be gained over time by charging different audience segments, such as super fans, more for subscriptions.
Goldman analysts also wrote that the current method of treating all streams lasting less than 30 seconds the same and paying content owners a pro-rata share of streams “needs to evolve…to cope with dilution of market share.” This weakening, they say, is coming from the fast-growing number of songs uploaded to digital service provider (DSP) platforms, fraudulent and artificial streams and “the propensity of algorithms to push lower royalty content.”
Researchers also sounded a positive note on the potential for generative AI to lower barriers for artists, boost music creation capabilities and improve industry productivity overall, with the major music companies best positioned to benefit.
“We believe the quality of the input to large language models is critical and the largest owners of proprietary (intellectual property) are best positioned to leverage the technology,” researchers wrote, noting the industry will need to be aligned in controlling the deployment of that tech.
The report also notes that, despite fears of market dillution from the rush of new content, Universal Music Group and Sony Music Entertainment both maintained their recorded music market share in 2022, with only Warner Music Group losing market share — about half a percentage point — to independents.
“We continue to expect modest dilution of market share over time, mostly driven by the revenue mix shift towards EM, although we believe that the major record labels will continue to expand their presence in EMs through partnerships, investments and bolt-on M&A,” researchers wrote.
Spotify maintains its clear lead among the DSPs with 34.8% of total global market share in 2022, although it edged 60 basis points lower. YouTube Music was the “major gainer,” gaining about 3 percentage points of market share over the past three years to hold market share in 2022.