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In 2020, after years of steady growth, the vinyl market exploded. Sales climbed over 46% in the United States, according to Luminate. Then, remarkably, they jumped another 51% in 2021.
But in 2022, that growth plummeted to a rate that was far more pedestrian: Luminate reported that sales were up a little more than 4%. (Pull two juggernauts — Taylor Swift‘s Midnights and Harry Styles‘ Harry’s House — out of that number, and growth was less than 1%.) Year-over-year growth also fell in the United Kingdom from 23.2% to 2.9%, according to the British Phonographic Industry.
“Some labels report sales are down,” says Nick Gordon, chief partnership officer at Symphonic Distribution. And big retailers like Walmart offered some titles at a heavily discounted price around the holiday season, stoking fears among the smaller players that those stores had overbought — maybe an indication of slackening demand.
Despite these figures, Gordon believes the vinyl market remains “healthy.” And several of his peers — from distributors to indie-label heads, chain stores to independent retailers — also seem unruffled by the slower growth. “It corrected the market,” says Todd Oenbrink, sales director for All Media Supply, a Florida-based indie wholesaler.
“It feels like a welcomed return to normalcy,” agrees Terry Cole, founder and owner of Loveland, Ohio-based store Plaid Room Records and the label Colemine Records. “It feels way healthier. This industry is not set up for rapid growth.”
And according to Russ Krupnick, managing partner of the market research company MusicWatch, “core metrics” in the vinyl market are still “showing strength.” “Our initial look at the data from 2022 is indicating that the number of vinyl buyers is still holding up,” he continues. “And in early projections, it looks like the used vinyl market is going to be up by double digits.”
During the first two years of the pandemic, demand for vinyl grew like crazy, outpacing production capacity. But retailers, distributors and manufacturers consider those two years an aberration — from 2015 to 2019, year-over-year growth ranged from around 9% to 17%.
When few music fans were going to shows due to COVID-19, “vinyl took a far greater share of music fan spending than it would otherwise take,” says Stephen Godfroy, director and co-owner of Rough Trade, which saw 30% growth in vinyl sales in 2022. “We saw exuberance for all sorts of things during the peak COVID era — vinyl, Netflix, cooking lessons, home improvement,” Krupnick notes.
Now listeners “are spending money on other things — going out drinking, going out eating, going to gigs — whereas they couldn’t do that much in lockdown,” says Peter Quicke, chair of independent label Ninja Tune. (Vinyl sales for Ninja Tune rose over 25% in 2022.) Even so, vinyl sales still grew.
With higher prices for raw materials and labor, the cost of records has also increased, another potential growth dampener. Several independent store owners expect major-label prices to increase again in 2023. “We keep hearing there are more [price hikes] to come,” says John Kunz, owner of Waterloo Records in Austin. “I wonder how that 10- or 20-something shopper is going to be able to afford that.”
Price sensitivity, especially in an uncertain macroeconomic climate, is a chief worry in the independent record store owner and label community. Already “we see customers backing away from the high prices for new releases,” says Michael Kurtz, co-founder of Record Store Day.
But at the same time, the vinyl industry’s production capacity is expected to rise in 2023. Slower growth last year “was less about people suddenly not wanting to buy as many records and more about the amount of records available to purchase,” says Cameron Schaefer, CEO of Vinyl Me, Please. (VMP sales were up 15% in 2022.) “The biggest limiter on growth is just pressing.” “We could have sold much more vinyl in 2022 if only we could have gotten hold of more supply of the right product,” Godfroy agrees.
Independent labels are still struggling with long turnaround times, executives say, which leads to missed sales for their artists — especially when an album doesn’t hit stores and streaming services at the same time. But more plants are coming online — Vinyl Me, Please expects to have its own new plant operational this year, for example — and existing facilities are adding capacity.
There are other potentially positive signs. Krupnick published a study on “the vinyl revolution” in 2022 which found that the most common barrier to buying records was “I don’t have or want to buy a turntable;” similarly, Luminate’s year-end report noted that only 50% of vinyl buyers have a record player. But “when Harry Styles came out last year, we saw a spike in turntable sales,” says Crissi Bariatti, music buyer at Barnes & Noble. “We are converting a lot of new vinyl fans” who might purchase LPs for years to come. (The chain had an “amazing December” for vinyl sales, and “January numbers are great” as well.)
Fluctuation in growth isn’t uncommon, of course. “Ebb and flow in vinyl sales over short periods” is natural, according to Scott Hagen, CEO of Victrola, a product of “what the new releases are, what the availability is in that moment in time, and what the general traffic in retail is.” (That was down in the fourth quarter of 2022.) Schaefer from Vinyl Me, Please predicts that “the next two years will give a much better preview of what to expect from the vinyl industry in the long term.”
“People got excited by high numbers in the years prior,” he continues. “If we can get to 10% a year, stay there and do that well? That’s healthy.”
Lizzo is now — legally speaking — 100% that b-tch.
In a decision issued Thursday (Feb. 2), a tribunal at the U.S. Patent and Trademark Office ruled that the superstar could register “100% That B-tch” as a federal trademark for clothing — meaning Lizzo now has exclusive rights to use the phrase on apparel.
Last year, the agency rejected Lizzo’s application for the trademark on the grounds that it was merely a commonplace “motivational phrase” aimed at “female empowerment,” not the kind of unique brand name that’s eligible for trademark protection.
But the USPTO’s Trademark Trial and Appeal Board (TTAB) overturned that ruling Thursday, saying that people who see the phrase on a t-shirt would immediately think of Lizzo.
“Consumers encountering ‘100% That B-tch’ on the specific types of clothing identified in the application ― even when offered by third parties ― associate the term with Lizzo and her music,” the appeals board wrote in its ruling.
Lizzo included the famed lyric — “I just took a DNA test, turns out I’m 100% that b-tch” — in her breakout smash hit “Truth Hurts,” but she didn’t actually didn’t come up with it herself. Instead, the singer pulled it from a popular internet meme, and she has since given its creator — Mina Lioness — songwriting credit on the hit track.
In refusing to give Lizzo the trademark, the USPTO had pointed out that backstory, arguing that even if the singer “popularized” the phrase, she was still not entitled to legally “appropriate” it for her own exclusive use on consumer goods.
But in Thursday’s decision, the Trademark Trial and Appeal Board disagreed — ruling that Lizzo had clearly “popularized the lyric” and elevated “a lesser known phrase” into “more memorable status.”
“Lizzo did not originate the expression she encountered as a Twitter meme,” the board wrote. “Nonetheless, lyrics from songs are more likely to be attributed to the artists who sing, rap or otherwise utter them, rather than the songwriters.”
An attorney for Lizzo did not immediately return a request for comment. The USPTO does not comment on rulings by the TTAB.
Read the entire decision here:
Universal Music Group chairman and CEO Sir Lucian Grainge is calling on music industry executives to come together to get artists paid. Last night (Feb. 1), Grainge addressed an audience of Billboard Power 100 honorees in Los Angeles with the hope that the most powerful business figures in the industry can come together on the side of creatives.
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“Our industry is entering a new chapter where we’re going to have to pick sides, all of us are going to have to pick sides,” Grainge said from the stage in Hollywood. “Are we on the side of FinTech [Financial Technology] and functional music, functional content? Or are we on the side of artistry, and artists?”
Grainge was the first executive to take the stage after Billboard editorial director Hannah Karp opened the ceremony and introduced Grainge who, once again, landed the top spot on the Billboard Power 100 list this year. Grainge takes the top spot as the leader of UMG which reported third-quarter earnings of 2.66 billion euros (approximately $2.9 billion), up 13.3% year over year in constant currency, a fifth-straight quarter of growth since the company spun off from Vivendi in fall 2021.
His call to action was based on the idea of disrupting the music industry, but from those who care most about it. “I’ve always seen opportunity in disruption. And for those of us that have been in the business, made our living out of music, boy have we seen an enormous amount of disruption,” said Grainge. “But the problem is that all too often we’ve let others disrupt our industry. But if we work together across the music community, we can disrupt the status quo instead. And that offers enormous opportunity for real music, real artists. Now, that’s what I call powerful.”
The executive was also quick to thank his colleagues at UMG and provided a shout out to its label Republic Records, which landed the No. 1 label of the year based on current market share. But Grainge’s short and poignant speech focused on his love of music and those who work on behalf of artists.
“Working on behalf of artists and working to grow this industry has been my life’s passion and I’ve been very lucky,” Grainge said. “I feel very strongly that if we’re to succeed, more than ever, we need to come together as an industry, to fight for artists, and for music.”
He continued: “Let’s focus our energy on rewarding those that make great music and those that made music great. Let’s break artists, fight to get them paid, and to give fans real joy.”
While accepting the UBS & Billboard Trailblazer Award at Billboard’s Power 100 Event at Goya Studios in Hollywood on Wednesday night (Feb. 1), Harbourview Equity Partners founder/CEO Sherrese Clarke Soares struck a somber note during an otherwise celebratory evening.
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“Harbourview has been a dream of mine for many years in the making, and I feel grateful that I’m able to do my life’s work,” said the executive, who has acquired nearly 40 catalogs since launching the company in October 2021. “However, at the same time I experience the joy of receiving the recognition, my heart is heavy. At first I could not really sort why, but as I prepared to board my flight to head out West, the words hit me, ‘I just want to get home.’”
Those words — spoken by Tyre Nichols, the Black man who died after being beaten by police officers following a traffic stop in Memphis on Jan. 10 — formed the crux of Clarke Soares’ brief speech, in which she also acknowledged other recent incidents of hatred, including mass shootings in California and the anti-Semitic vandalism of Jewish synagogues.
“Echoing in my head and in my heart, emotions ran deep as I thought of the last words of a young man 100 feet from his home, and I realized that over the last few weeks, as a country and as a community, we’ve beared witness to so much disregard and undervaluing of life,” Clarke Soares continued. “And so while I’m honored to stand before you today, I know our work at Harbourview will not be done until we use our power to trailblaze a path through music, storytelling and art that connects our collective humanity, humanizing each precious life, so that everyone makes it home to their families at night.”
Named one of Billboard‘s Change Agents in 2021 while serving in her previous role as founder/CEO of Tempo Music, Clarke Soares has consistently pointed to the importance of fostering diversity through her work — both in the staff she hires and the investments she makes. Before taking the stage, her efforts on that front were also highlighted by Wale Ogunleye, former football player and head of sports & entertainment at UBS, who presented Clarke Soares with the award while noting her “extremely diverse” team and “culturally…and musically diverse” portfolio of music catalogs.
Clarke Soares reiterated that overarching mission during her speech by invoking the phrase “Out of many, one people” — “a phrase we say at Harbourview, and we embody it if you look at our team,” she said. “And as a company, our trailblazing should not only be measured in the economic barriers that we break, but in the impact we have to be a place of hope without fear to tell stories that shape hearts and minds for love and humanity. And we ask all of you in this room, with all of your power, to join us in that journey.”
Clarke Soares was one of five individuals to accept awards at the high-powered event on Wednesday. Also honored were Noah Assad (executive of the year, presented by Bad Bunny); Avery and Monte Lipman, COO and CEO of Republic Records, respectively (label of the year, presented by Kim Petras); and HYBE chairman Bang Si-Hyuk (the Clive Davis visionary award, presented by Clive Davis and Scooter Braun).
SiriusXM reported its full-year 2022 revenue grew by 4% to $9 billion on Thursday, as increased numbers of streaming subscribers helped the company hit its financial targets for the year.
While key metrics like earnings before interest, taxes, depreciation and amortization (EBITDA) were up 2% at $2.8 billion, executives struck a cautious tone on a call with investors, saying they expect softness in the year ahead.
“We broadly anticipate a softer first half (of 2023) in terms of revenue, EBITDA, and subscriber growth as compared to the back half of the year,” SiriusXM chief executive Jennifer Witz said on the call. “We are not issuing subscriber guidance at this time, although we anticipate we’ll see modestly negative self-pay net adds for the year as economic and demand uncertainty persists, auto sales remain soft, and we moderate marketing spend for our streaming service early in the year ahead of planned product improvements late in 2023.”
SiruisXM reported net income of $365 million in the fourth quarter ending Dec. 31, up from $318 million the year prior. EBITDA for the quarter rose 10% to $742 million. The company reported 348,000 net new self-pay subscribers for the year.
The company said late last year it would embark on a broad effort to cut costs, as it invests in the back-end technology and user-friendliness of its SiriusXM app. Updating the app’s infrastructure so that the company can bring new products to the app quickly is a key part of the company’s growth strategy.
In a memo to staff last year, Witz said the company will be looking at all ways to trim costs, including possible job cuts, as it weighs how to handle macroeconomic challenges like declining advertising budgets and auto manufacturer delays.
In 2023, Billboard introduces the Power Players’ Choice Award, a peer-voted honor chosen by Billboard Pro members to honor the executive they believe has had the most impact across the music business in the past year. After more than 1,500 votes cast across three rounds of voting, Pro members selected Brandon Silverstein, founder/CEO of S10 Entertainment, for this year’s award.
As a manager, Silverstein has helped build Anitta’s and Normani’s breakout careers, while moving S10 into publishing, recorded music and film/TV. Since expanding S10’s publishing venture with Avex USA last year, the company — Brandon Silverstein Publishing — now represents songwriters-producers-composers HARV (Justin Bieber’s “Peaches”) and Grammy winner Jasper Harris (Jack Harlow’s “First Class”), among others.
“Being recognized by the music industry as one of the most powerful and impactful executives is an absolute honor,” says Silverstein, who is a previous honoree on Billboard’s Latin Power Players and 40 Under 40 lists. “I’m proud of what we’ve built with S10 on a global level and the trust our artists and creatives have in me and my team.”
This story will appear in the Feb. 4, 2023, issue of Billboard.
When tickets for Bad Bunny’s El Último Tour del Mundo arena tour went on presale in April 2021, his manager, Noah Assad, was cautiously optimistic.
“I thought we would do well, because it was post-pandemic and everyone wanted to go out, but we went on sale without really knowing — and we did it a year out for that very reason,” says Assad.
For Assad, “doing well” has become synonymous with breaking some sort of record. But even he wasn’t expecting Bad Bunny to have one of the most historic, record-setting runs for an artist in the history of the Billboard charts. El Último Tour del Mundo’s presale date became the top sales day for any tour on Ticketmaster since Beyoncé and Jay-Z’s On the Run II tour went on sale in 2018, and the run sold out 480,000 tickets in less than a week.
Four months after El Último Tour del Mundo wrapped in April 2022, Bad Bunny embarked on his World’s Hottest Tour stadium run, becoming the first artist to ever mount separate $100 million-plus tours in the same calendar year. Ultimately, his 81 concerts in 2022 grossed $434.9 million, the highest calendar-year total for an artist since Billboard Boxscore launched in the late 1980s. The tour broke local revenue records in 13 North American markets en route to becoming the biggest Latin tour ever.
Bad Bunny’s chart dominance made him Billboard’s top artist of the year, by the numbers, the first Latin act and the first artist who records in a language other than English to earn the distinction. His album Un Verano Sin Ti, released in May on Assad’s independent label, Rimas Entertainment, and distributed by The Orchard, became the first non-English set to ever top the year-end Billboard 200 Albums ranking and the first all-Spanish release nominated for album of the year at the Grammy Awards, one of Bad Bunny’s three nods.
“I was very proud about that one, especially because it was 100% a Spanish-language album,” says Assad. “It doesn’t have even a verse in English.”
On top of that, in April, Bad Bunny will become the first Latin act to headline Coachella. And, Assad, 32, is realizing some milestones of his own, including being named Billboard’s youngest-ever Executive of the Year and the first Latino to secure the honor.
His achievement underscores not only the growing worldwide popularity and profitability of Latin music, but also shines a light on what an upstart independent can do — regardless of genre or the backing of a legacy company — when armed with guts, hustle, deep musical knowledge, loyalty and the confidence to break rules and create new ones.
Bad Bunny is signed to Assad’s label, Rimas Entertainment, which originated in 2014 as a digital marketing and distribution company. It has evolved to become a 100-plus-person operation with distribution from The Orchard, with a roster ranging from veterans (Arcángel, Jowell & Randy) to promising newcomers (Mora, Eladio Carrión), many of whom are signed to 360 deals. Rimas ended 2022 at No. 7 on Billboard’s year-end Top Labels chart and at No. 1 on the year-end Top Latin Labels chart, with 23 charting albums by seven artists besides Bad Bunny.
Assad also launched RSM Publishing, which is administered by Universal Music Publishing Group and was No. 1 on Billboard’s year-end Hot Latin Songs Publishers list. And while Bad Bunny is his most visible management client, Assad also started managing Karol G 18 months ago with his new management firm, Habibi, with stellar results. Her 2022 $trip Love tour, promoted by AEG Presents, grossed $69.9 million with 410,000 tickets sold across 33 arena shows in North America — the highest-earning U.S tour ever by a female Latin act, according to Billboard Boxscore.
“Noah has an unmatched understanding of his artists,” says Jody Gerson, chairman/CEO of UMPG. “His instincts about how to market and promote them, as he has done so well with Bad Bunny and Karol G, are among the best I’ve ever seen in the business. As an executive, Noah is loyal, honest, innovative and smart, and these are just some of the many traits that make him a fantastic partner.”
Though only 32, Assad considers himself a “semi-vet. I may be ‘new’ to a lot of people, but I’ve been at this for 12 years,” he says with a laugh. A self-professed reggaetón nerd with long blonde hair that matches his laid-back surfer vibe, Assad — born to a Lebanese father and a mother from St. Croix — grew up in Puerto Rico, and since seventh grade has been “consumed with reggaetón culture.” By 16, he was promoting house parties, booking the likes of Farruko before he became a big name and cultivating relationships with already established acts like Plan B’s Chencho Corleone. “Chencho was the first established artist to simply say yes to me,” says Assad, a favor that has paid dividends for Corleone; “Me Porto Bonito,” his smash collaboration on Bad Bunny’s Un Verano Sin Ti, became the first all-Spanish song to top Billboard’s Streaming Songs chart. That full-circle moment highlights Assad’s reputation for cultivating relationships with contacts to whom he stays loyal. “We work with everybody; we are always coexisting,” he told Billboard last year. Witness his deals with opposing teams at The Orchard and Universal, while his top touring acts — Bad Bunny and Karol G — work with Live Nation and AEG, respectively.
“Noah is similar to Bad Bunny in that he’s also a unicorn,” says Henry Cárdenas, the veteran promoter and founder of CMN, which produced and promoted Bad Bunny’s last two tours, including the stadium tour in partnership with Live Nation. “The guy’s going to create an empire, and he’s a man of his word. I compare him to the old managers, where we closed business with a handshake, and he’s appreciative. Where I’m concerned, he has continued to take me into account, and it harks back to the fact that I worked with him from the very beginning.”
While Assad’s success feels very of the moment — in keeping with his young acts, the relatively recent mainstream success of reggaetón and Bad Bunny’s fondness for releasing music with little or no notice — he’s actually a planner; like his famous client, he takes a long view on success. It wasn’t always this way. As a young promoter, Assad recalls struggling mightily to make a buck (and often getting “hustled”) in what he half-jokingly refers to as “the reggaetón depression era” of 2009-2016, when the music was largely consumed for free and money came almost solely from live shows.
“YouTube was the outlet that turned it into a commercial business,” says Assad, who says he struck an early deal with the platform to monetize the millions of views the music generated for many independent artists and eventually for his own — including a 22-year-old who called himself Bad Bunny. “I didn’t have the privilege to work with an artist who was already established, but I was very fortunate to have Bunny trust me and work with me. Bunny makes me look good,” he says. Alongside his artist, Assad began thinking long term, and even when his actions seem improvised, they are anything but. Take the one-two punch of back-to-back tours with a hit album in between, conceived after ticket prices to Bad Bunny’s arena tour started soaring just after they went on sale in 2021.
“We started getting the heat, but we didn’t think of stadiums until the summer,” says Assad, pointing out that Bad Bunny already had plans to release a new album when the arena tour wrapped. By October, a plan had been made: arenas in February, an album in May and a stadium tour in June to be announced in January with a series of humorous videos featuring Bad Bunny’s girlfriend, Gabriela Berlingari, and Spanish actor Mario Casas. “There’s a lot of pivoting along the way, but we still follow the plan,” says Assad. “And everything we do has to make sense. If it doesn’t make sense, even if it’s beautiful, we pass.”
“Noah is singular in his sense of the moment, commitment to a vision and fearlessness,” says UTA agent Jbeau Lewis, who books Bad Bunny and Karol G. “Noah understands his artists, he always plays the long game, and he’s unafraid to say no.”
Bad Bunny has said repeatedly that he plans to take a break after Coachella, from both recording and touring. But for Assad, the work of growing his business never slows. Last year, in partnership with The Orchard, he launched Sonar, a label for developing acts that already has deals with over 50 artists from around the world, including non-Latin acts. Assad also began a strategic alliance with Live Nation to develop new businesses outside of touring, including Gekko, the restaurant Bad Bunny opened in Miami in August with hospitality entrepreneur David Grutman. Most recently, he announced the launch of Rimas Sports, a stand-alone management company (name notwithstanding, it is not a division of Rimas Entertainment) whose client list already includes the Toronto Blue Jays’ Santiago Espinal and Diego Cartaya, a top prospect for the Los Angeles Dodgers.
Assad says his biggest goal for 2023 has nothing to do with business, however. “I want to fly less, enjoy more and spend as much time as I can in Puerto Rico,” he says. “That’s my goal. People look at me and think that because of the hair I’m from Mississippi or something. But I’m just a kid from Carolina, Puerto Rico, who loves reggaetón.”
This story will appear in the Feb. 4, 2023, issue of Billboard.
Saweetie has scored here very own touchdown, by fronting an NFL metaverse concert during Super Bowl week. The “Best Friend” rapper is the headline performer at the Saweetie Super Bowl Concert, a free virtual show presented by Intuit on Roblox and set to premiere Feb. 10.
The Warner Records artist will step into the metaverse on the heels of the launch of WMG’s Rhythm City, for what’s said to be a first-of-its-kind “music-themed social roleplay experience” on the Roblox gaming platform.
According to WMG, which partnered with NFL on the latest initiative, Saweetie will perform a “family-friendly, fully motion-captured” set featuring her hit singles and presented as official part of the Super Bowl LVII event lineup.
The virtual concert will drop next Friday at 7:00pm ET and will re-air every hour, on the hour, until Sunday, Feb. 12.
“As our ecosystem evolves,” comments Oana Ruxandra, chief digital officer & executive vp of business development at WMG, the music major “is focused on building open, interactive and dynamic virtual experiences that deeply connect artists with their fans. It doesn’t get more iconic than the Saweetie Super Bowl Concert Presented by Intuit on Roblox. We are so thrilled to be working in support of this event and incredibly excited to kick off our first concert in Rhythm City.”
Saweetie is the latest WMG artist to make the crossover into the Roblox world, namely Twenty One Pilots, Why Don’t We, Ava Max, David Guetta and Royal Blood.
This year, she’s on a mission to expand her creative horizons. Saweetie is reportedly stepping back onto the small screen with a guest starring role on Peacock’s Bel-Air, the streaming platform’s The Fresh Prince of Bel-Air spin-off. The 29-year-old previously appeared in several episodes of Freeform’s Black-ish spinoff show Grown-ish, as rapper Indigo.
As for music, Saweetie most recently released her six-track EP The Single Life in November 2022. And she has hit No. 1 on Billboard’s Top Triller U.S. chart with three numbers: “Tap In” in mid-2020, followed by “Fast (Motion)” in mid-2021, and “Closer,” featuring H.E.R., in February 2022.
With the Rhythm City project, WMG is the latest music company to partner with Roblox, which boasts more than 61 million daily active users and exploded in popularity with young gamers during the pandemic.
Sony Music and BMG announced partnerships with Roblox in 2021. Spotify became “the first music-streaming brand to have a presence on Roblox” last year.
Ultra International Music Publishing (UIMP) has acquired the catalog of Grammy-winning songwriter and producer Zaytoven. In addition, the hitmaker — whose catalog includes tracks by Migos, Drake, 21 Savage, and more — has signed a co-publishing agreement with Ultra to further foster his career moving forward.
Yonatan Watts has signed a worldwide publishing deal with Position Music and Tommy “TB Hits” Brown‘s Chapagne Therapy Music Group (CTMG). A Grammy-nominated hitmater, Watts has already penned hits for Chris Brown, Ariana Grande, Ari Lennox, Coi Leray and more, including “main thing” by Grande which he co-wrote alongside Brown for the singer’s album Positions.
SOFI TUKKER has extended their publishing deal with Third Side Music. The independent publisher will continue to act as the administrator of the electronic pop group’s catalog, as they have since 2017. “Signing with [Third Side] has been one of the best decisions we’ve made in our career,” says SOFI TUKKER about extending their deal.
Warner Chappell Production Music has expanded its operations into São Paulo, Brazil. Helmed by Renato Moraes, the WCPM team in Brazil will focus on building out a local repertoire of music and service Brazil’s film, tv, radio and advertising clients with custom music services and a wide-reaching catalog of songs and sound design. Moraes will reported to Sinéad Hartmann, vp of licensing and music creative.
Ocha Media Inc. has launched its new publishing administration and music synchronization service, Ocha Publishing. The new company will focus on aiding underground house music — including afro house, deep house, soulful house, techno and other subgenres — makers and will help the genre reach music supervisors, producers and creative directors. Its first signing is Osunlade’s Yoruba Records.
Sony Music Publishing Nashville and Droptine have jointly signed country hitmakers Russell Sutton and Tommy Karlas to global publishing deals. Sutton got his start as part of Grassroots Revival, and as a songwriter he has made cuts with Elvie Shane, Drew Green, and Nate Smith. Karlas has written songs for Blake Shelton, Warren Zeiders, Old Dominion, Randy Travis, and Montgomery Gentry.
Shirin David, one of Germany’s most popular female hip hop artists, has signed a deal with Warner Chappell Music. Natascha Augustin, vp of a&r, Warner Chappell Music Germany, adds, “Warner Chappell Music is known for its diverse roster, and we’re delighted to welcome Shirin who has been pushing boundaries as a female hip-hop artist.”
Peermusic U.K. has signed The Reytons to an exclusive global publishing deal via their joint venture with Max Music Publishing. The British indie rock outfit comprises of Jonny Yerrell, Lee Holland, Joe O’Brien, and Jamie Todd, and their new deal arrives on the heels of their record What’s Rock and Roll, reaching a new U.K. chart high.
Warner Chappell and Truth or Dare Publishing have signed country singer/songwriter Abbey Cone to a joint publishing deal. A CMT Next Women of Country inductee, Cone released her debut EP, Hate Me, last year. In 2023, she will perform at Stagecoach.
On Jan. 29, the Brooklyn Variety Ramble debuted in New York City. The city’s first ongoing music variety show showcasing country, bluegrass, Americana, American Roots and more, Brooklyn Variety Ramble series, hosted by comedian Ali Clayton, will also hold shows on Feb. 26, March 26, April 30, May 28, and June 25. Tickets are available for purchase online.
Harry Styles, Mariah Carey and big streaming gains helped Sony Music Entertainment finish 2022 with a bang. Styles’ album Harry’s House and Carey’s typically strong holiday performance drove SME’s revenues up 22.9% to 363.7 billion yen ($2.57 billion at quarter’s average exchange rate) in its fiscal third quarter ended Dec. 31, 2022.
Styles’ 2022 release Harry’s House and 2019 album Fine Lines were among SME’s top performing titles of the quarter. Carey’s “All I Want for Christmas is You” topped the U.S. Hot 100 chart for four weeks (chart dates of Dec. 17, Dec. 24, Dec. 31 and Jan. 7). The company also pointed to strong sales and streams by Steve Lacy’s Gemini Rights, SZA’s SOS, Future’s I Never Liked You, Chris Brown’s Indigo, Beyonce’s Renaissance and Bruce Springsteen’s Only the Strong Survive.
Quarterly operating income improved 14.3% to 63 billion yen ($445 million). Adjusted earnings before interest, taxes, depreciation and amortization were 80 billion yen ($565 million).
The recorded music division’s revenues improved 30.1% to 239 billion yen ($1.69 billion). Streaming revenue grew 33.2% to 159.1 billion yen ($1.12 billion) and accounted for 66.6% of recorded music revenue, up from 65% in the prior-year period. Download revenue, up 14.3%, accounted for just 4.7% of digital revenues compared to 5.5% a year earlier. Physical sales declined 6% to 31.1 billion yen ($219.1 million) and accounted for 13% of total recorded music revenue, down from 18%.
Publishing revenues increased 42.9% to 74.2 billion yen ($523.4 million) in the quarter. Within publishing, streaming revenue improved 59.8% to 41.6 billion yen ($293.3 million). Streaming’s share of publishing revenue grew to 56% from 50.1% in the prior-year period. Other publishing income rose 25.9% to 32.6 billion yen ($230.1 million).
Excluding foreign exchange and the visual media and platform segment, SME’s recorded music and publishing divisions grew 10% in the quarter. That is a smaller improvement because changes in foreign exchange rates helped SME’s yen-denominated results. From the end of 2021 to 2022, the value of the yen declined against the three main foreign currencies: -10% against the U.S. dollar, -6.9% against the euro and -1.8% against the pound.
The visual media and platform segment was a drag on earnings due to lower anime sales, however. The segment’s revenue fell 16.3% to 47.4 billion yen ($334.7 million).
Looking ahead, the company maintained its forecast for full-year revenue at 1.37 billion yen (approximately $9.7 billion) at operating income at 265 billion yen (approximately $1.87 billion).