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Lauren Davis, a veteran music business attorney, has been promoted to associate chair of New York University’s Clive Davis Institute of Recorded Music.
Davis joined the institute’s full-time faculty in 2006, teaching courses on the legal and business aspects of the music industry, including intellectual property law. She has also lectured on social entrepreneurship and advancing equity and inclusion in music. As the director of professional development at CDI, she oversees the professional planning and Senior Year Professional Development courses for graduating students.
With 33 years of experience as a music and entertainment attorney, Davis has represented high-profile recording artists, songwriters, producers, publishers, and music companies. She has also served as the faculty senator on NYU’s Faculty Council for six years, advocating for faculty interests.
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Nick Sansano, chair of the Clive Davis Institute, praised Davis for her unwavering support and inspiration to students since the institute’s inception.
“Her music business and legal expertise, and her academic focus on policy, rights advocacy, and gender equity in the music industry has influenced and directed the professional lives of so many of our students and alumni,” he said. “Her willingness to take on the role of Associate Chair, deepening her contribution to the development of our curriculum and mission, is a huge win for our program.”
Davis expressed her excitement about her new role, stating it has been a privilege to teach and prepare future industry leaders over the past 18 years, adding that she’s “excited to roll up my sleeves, work with Nick Sansano as chair, and help steer the Clive Davis Institute’s growth and expansion in the years ahead.”
Named after the iconic music executive, the program offers a distinctive BFA that blends business, creative and intellectual exploration as part of NYU’s Tisch School of the Arts. The CDI marked its 20th anniversary earlier this year and is a fixture in Billboard‘s annual list of top music business schools.
Jingle Punks and Audio Up Media founder Jared Gutstadt has been accused of sexual assault in a new lawsuit filed by singer-songwriter and actor Mary Koons (known professionally as Scarlett Burke), who alleges that the influential executive “trapped” her “in a cycle of manipulation, abuse and exploitation” for years.
Filed in Los Angeles Superior Court on Tuesday (Dec. 31), the complaint alleges that Gutstadt “manipulated” Koons “into a sexual relationship under the guise of advancing her career”; repeatedly sexually and physically assaulted her; “isolated” her from professional opportunities “unless she complied with his sexual and logistical demands”; and “engaged in stalking, harassment, intimidation and retaliation” when she tried to escape his control — in the process “causing her significant and irreparable financial and professional harm.”
Audio Up and Anthem Entertainment — the former parent company of creative music agency Jingle Punks, which Gutstadt founded in 2008 — are also named as defendants in the lawsuit for allegedly facilitating Guststadt’s grip over Koons “by exerting substantial financial control and decision-making power over [her] professional opportunities and working conditions, particularly through her employment and contractual relationships with Jingle Punks.”
The allegations were first reported by the Los Angeles Times.
Gutstadt is best known for founding Jingle Punks and Audio Up, a podcast network he launched in 2020. Anthem (then known as ole Music Publishing) acquired Jingle Punks in 2015, ultimately leading to Gutstadt’s exit four years later. In July, Anthem and Gutstadt struck a joint venture enabling Audio Up to develop scripted podcasts from some of the publishing and intellectual property assets he created at Jingle Punks. In October, Jingle Punks was acquired by music licensing company Slipstream along with Anthem’s other production music businesses. (Slipstream is not named as a defendant in the lawsuit.)
According to the complaint — filed by L.A.-based attorney Samuel Brown at Hennig Kramer along with Parisis Filippatos, Tanvir Rahman and Gabrielle Rosen Harvey at New York firm Filippatos — Koons met Gutstadt in 2017, when she was 27 and he was 39. Over the next several years, she alleges she endured “psychological manipulation, physical violence and sexual abuse, leading to severe emotional and psychological trauma,” according to the complaint. “The relentless pattern of abuse culminated in an environment where Ms. Koons felt she had no choice but to comply with Mr. Gutstadt’s sexual demands, to avoid the horrifying consequences of refusing him.”
In the lawsuit, Koons claims she met Gutstadt in May 2017 at the Peppermint Club in West Hollywood, where Gustadt’s band, The Jingle Punks Hipster Orchestra, had a residency. That night, she says, Gutstadt “fixated” on her immediately and later had his assistant contact Koons’ then-manager to arrange a meeting. Over the next several weeks, Koons claims Gutstadt “launched a calculated campaign to groom” her, “bombarding her with messages about prestigious career opportunities designed to captivate and overwhelm her,” inviting her to dinners with high-profile music and TV executives, and bringing her along on trips to Nashville and Lake Tahoe “under the guise of collaborating on music projects” for Jingle Punks’ then-parent company ole Music (later Anthem).
Koons says that within a week of meeting Gutstadt, he requested that she record “Let the Dice Roll,” a song he was planning to pitch as the theme for the Netflix series Girls Incarcerated. “This marked the start of her employment with Jingle Punks and her entrapment in his manipulative control,” according to the suit. After Netflix acquired the song, Koons claims Gutstadt paid her only $500 (“a glaring underpayment that disregarded the value of her work and contribution”) and kept the rights to the song for himself.
According to the lawsuit, the first flash of Koons’ alleged abuse occurred “in or around” June 2017 after Gutstadt invited Koons to a dinner that had “several prominent music executives” in attendance. After driving her back to her Studio City apartment, Koons says Gustadt “began incessantly pressuring” her to kiss him, and, when she obliged by agreeing to kiss him on the cheek, he “turned his head at the last moment, tricking her into kissing him on the lips.”
The following month, Koons said that Gutstadt invited her to join him in Nashville for a week of writing sessions with him and his team, during which she says she was put up in a seedy “motel along the interstate,” half an hour’s drive from the Thompson Hotel where Gutstadt was staying. Claiming she felt unsafe, she says she asked Gutstadt to move her to a different hotel and that, instead of providing her with her own room, he manipulated her into staying in his. Koons claims the first sexual assault happened that night, when she alleges Gutstadt “forcibly grabbed her hand and put it on his penis” and “ignored her pleas for him to stop.”
Over the next several months, Koons says Gustadt “overwhelmed” her with “lavish gifts and gestures,” including freelance work opportunities, and “deliberately isolated” her from supportive people in her life, including her manager, “who, like many others, recognized that something was wrong and tried to separate” her from Gutstadt.
In a pattern of alleged abusive behavior that Koons says occurred over the next seven and a half years, she says Gutstadt’s “manipulative tactics paved the way for his coercive sexual relationship” with her. “In or around” August 2017, she says Koons invited her to a Jingle Punks company retreat in Lake Tahoe, only to again deceive her into sharing a hotel room with him and failing to include her in any of the “team building activities.” It was around this time that Koons says she became aware of a “misogynistic” culture at Jingle Punks and Anthem, including an alleged incident at the Tahoe retreat in which a male Jingle Punks music supervisor attempted to assault a female Jingle Punks composer in her hotel room. Koons claims that despite the company being aware of the alleged incident, “no action was taken” to address it.
Koons says she was subsequently “lured into an intermittent extramarital affair” with Gutstadt, who she says “would also constantly resort to coercion and manipulation to convince Ms. Koons she had to stay with him in order to advance her career” — all while being denied the opportunity to “reap the benefits of her work” as a songwriter for the company and being cut off from outside work opportunities. In one account, she says that when the Deutsch advertising agency reached out to her with an offer of work, Gutstadt “became enraged” and verbally abused her before compelling her to tell the Deutsch executive that any future offers needed to be run through Gutstadt and Jingle Punks.
According to the lawsuit, Koons says that Gutstadt, in a bid at “entrenching his dominance over her,” eventually left her completely financially dependent on him, after which she says “the abuse escalated significantly.” Each time she says she tried to release his grip on her, he would allegedly lure her back with lucrative work opportunities on high-profile projects, including paid writing sessions for the movie Trolls and an opportunity to write for country star Chris Stapleton.
In the fall of 2018, Koons says that after taking her to an Emmy Awards party, Gutstadt effectively forced her to have sex with him at his office after making her “feel indebted to him” for the invite. “This was not consensual sex,” the lawsuit reads. That same October, she says Gutstadt manipulated her into signing a non-disclosure agreement (NDA) “not tied to any specific project” with Gutstadt or his company. After signing it, she says Gustadt “warned her that if she ever spoke out, no one would believe her, and that breaching the NDA would not only destroy her career but allow him to ruin her entirely.” She claims that as a party to the NDA, ole Music (now Anthem) “exerted additional control over Ms. Koons by restricting her ability to speak out” about Gutstadt’s alleged abuse.
Koons claims the abuse further escalated after she signed the NDA and that she was forced to take jobs with Gustadt, Jingle Punks, ole Music and Audio Up, including through signing multiple agreements with the companies that served “to strip her of her creative ownership” and deny her adequate financial compensation. According to the lawsuit, one of these alleged agreements — a development deal with Jingle Punks and ole Music for Make It Up As We Go, a podcast series based around Koons’ original music — saw Koons effectively “signing away her creative rights” to the project and being paid just $10,000, described as “a paltry and insulting amount that grossly undervalued her contributions and highlighted the agreement’s exploitative nature.”
The lawsuit includes multiple allegations of physical abuse. In one April 2019 incident described in the complaint, Koons claims that after allegedly protesting when Gutstadt “took most of the money” she earned from participating in a two-day Deutsch songwriting session, he “became violent” and began hitting both her and her dog. In another alleged incident in October 2019, Koons claims that Gustadt “violently tackled her to the ground” after she attempted to read text messages between him and his wife.
In another account of alleged abuse, Koons claims that while recording two songs with him and another songwriter at Audio Up’s Audio Chateau in L.A. in January 2022, she awoke in the middle of the night to find Gutstadt “raping her in her sleep.” She claims Gutstadt raped her again in September 2023 — while they were staying at the Langham Hotel in Pasadena, Calif., during an Audio Up writing retreat — after Gutstadt became enraged when Koons “refused his sexual advances.”
Throughout Koons’ alleged relationship with Gutstadt, she says Anthem/ole Music “enabled” a culture of “harassment and coercion,” thereby “solidifying its complicity in the ongoing mistreatment” of Koons as well as multiple other female employees by Jingle Punks staffers.
“Mr. Gutstadt’s deliberate and vindictive behavior has marginalized Ms. Koons, stunting her professional growth and obstructing her visibility within the industry,” the complaint reads, adding that she “has suffered and continues to suffer from profound emotional distress,” including post-traumatic stress disorder.
Koons is seeking compensatory damages, lost wages and earnings, a money judgment for “mental pain and anguish and severe emotional distress,” and punitive and exemplary damages, among other relief.
Representatives for Gutstadt, Anthem and Audio Up had not responded to Billboard‘s request for comment at press time.
Marcelo Figoli is no stranger to big numbers. As the founder and owner of Fenix Entertainment — the Argentina-based conglomerate that encompasses live shows, amusement parks, soccer teams and media — Figoli has offices in eight countries, produces more than 100 live events per year and has successfully promoted tours by the likes of Ricardo Arjona, Ricky Martin, Romeo Santos and Shakira.
But Figoli capped 2024 with his biggest tour ever: namely, the Luis Miguel 2023-24 Tour — co-promoted alongside Henry Cardenas’ CMN — which became not only the highest-grossing Latin tour of the year but also the highest-grossing Latin tour of all time, according to numbers reported to Billboard Boxscore.
In December, when Billboard published its top tours of the year recap, the Miguel tour had reported more than 2 million tickets sold over 128 shows, generating a gross income of $290.4 million in 2024 alone. That number doesn’t include the 2023 figures or Miguel’s final Mexico City shows.
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“I was very emotional [when I heard the news],” Figoli tells Billboard of his record. “I felt immense happiness, for the artist and for the work we did.”
Below, Billboard speaks with Figoli about the stunning success of the Miguel tour and how it broke all records.
Despite its size, Fenix is an independent company. How do you distinguish yourself from other promoters worldwide?
We offer something different. We do more artisanal work, if you will, and put more thought into each of the artists and the products. I throw myself into it. I’m passionate, I go crazy, I review sales numbers every day, I’m a workaholic. I’m very calm when it comes to handling the stress generated by these massive events that I organize, but I’m very nervous in the day-to-day work leading up to achieving success.
We can provide a plus in markets like Latin America and in some cases — as with Luis Miguel and Arjona— in the entire world. Also, Fenix has partnered with CMN in recent years, and that consolidation continues to open a space for us.
Had you worked with Luis Miguel before?
We did countless concerts with Luis Miguel, but we had worked in the South American markets. Never a global tour like this one. But we’d worked very well because we have great respect and great admiration for his career. For us, he is one of the greatest artists in the world in any language, and we firmly believe in his career and that is why we bet on his tour. I thought the tour was going to be big, solid, strong. It may have exceeded my expectations, but I did know that this tour was going to do what it did. Initially, we were going to partner with CMN only in the United States and we ended up partnering for everything.
There’s a big leap from a “solid” and “strong” tour to the most successful in history. What do you attribute it to?
For me, the key to success was, first, how high we aimed. And second, how we planned the tour launch at the same time at a global scale, rather than market to market. We launched the global tour on the same day. The same day we put all the cities up for sale, and on the same day, with the same launch, we created a global explosion. We were able to get hundreds of thousands of fans around the world talking about it at the same time. We had billboards up in every city that went on sale, and we had digital and radio campaigns in each of those cities from day one. It’s the kind of launch that I have only seen for mass-consumer products. It was important to show that confidence and aggressiveness in the tour, and positioning it as a global tour, not a local tour. The way we framed it made it go viral.
How was working with CMN?
A lot of coming together, a lot of pre-production before launch. We work very well with the CMN team and the artist’s team. Plus, Henry is a legendary promoter.
It strikes me that Luis Miguel didn’t even have a new album or single…
But he was having a good personal and artistic moment, and that had an influence. Also, the launch strategy around the tour. In addition, we did a great job with our marketing teams, influencers, etc. But the basis is in the greatness of the artist. I’ve worked with so many artists, and I can’t think of many who could pull off a tour [of this magnitude and stamina]. He has demonstrated extraordinary professionalism and courtesy.
How do you see next year for Latin tours?
Excellent. We’re trying to convince Ricardo Montaner to do a farewell tour. Obviously we are negotiating for Ricardo Arona’s global tour. And with artists in development, we’ve had extraordinary success with Emilia Mernes and her 10 Arenas Movistar in Buenos Aires, where she played to over 290,000 people. I think Emilia is going to be a big deal in 2025.
In the end, 2024 was the year that the U.S. performance rights societies found out what type of valuations they can command when they are put up on the block. As the year comes to a close, a select group of private equity suitors is kicking the tires on yet another performance rights organization, SESAC, according to sources.
Those sources say that deals like New Mountain Capital’s acquisition of BMI in February and Hellman & Friedman signing a letter of intent in September to replace Taxes Pacific Group as the majority owner of Global Music Rights that gave GMR a $3.3 billion valuation served as a catalyst for some private equity firms to reach out to SESAC’s corporate owner Blackstone to see if it was interested in selling.
Consequently, Blackstone is fielding inbound interest from a group of private equity firms that unsuccessfully bid on GMR, according to a source familiar with the matter.
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Many private equity firms look at GMR and are “all shocked by the final valuation,” says a music asset investor. “Those firms have a real appetite for music because music assets are doing well.” In fact, some sources suggest that SESAC has been a fantastic performer for Blackstone. Nevertheless, as an investment firm representing institutional clients, Blackstone has a fiduciary obligation to maximize returns on their investments. So with the aid of the Moelis & Co. and Morgan Stanley investment banks, Blackstone is selectively and informally shopping the PRO and its subsidiaries to a targeted group of private equity firms, while so far eschewing to reach out to potential strategic buyers, sources say. “You can’t blame Blackstone for testing to see what the market will pay for SESAC,” says one music asset buyer.
SESAC, Blackstone, Moelis and Morgan Stanley executives either declined to comment or didn’t respond to a request for comment.
Blackstone, which bought SESAC in 2017 for $1.125 billion, has since invested in the company as the PRO, led by chairman John Josephson, has been making subsequent add-on acquisitions to complement its core business. During Josephson’s tenure, SESAC has acquired the Harry Fox Agency and Audiam to go along with earlier acquisitions like RumbleFish and Christian Copyright Licensing International. What’s more, in 2021, when Blackstone bought Hasbro’s music assets, including the MNRK record label and the Audio Network production music house, the latter company was added to SESAC’s portfolio. (Sources say Audio Network is included in the SESAC assets being looked at, but Billboard could not determine if MNRK is also included in any potential deal.)
Along the way, Blackstone loaded up SESAC with about $1 billion in debt through a series of asset-backed bond offerings, with the latest securitization for $180 million happening earlier this year. On Feb. 8, Kroll Bond Rating Agency (KBRA) noted that the proceeds from that bond sale would be used for “distribution to equity investors” as well as to pay certain transaction expenses and make deposits into certain transaction accounts.
According to that credit rating report, SESAC had revenue of $388.6 million in 2024, presumably the fiscal year ended Jan. 31, 2024. It also said that the company is expected to hit over $400 million in its current fiscal year, likely the one that will end Jan. 31, 2025. What’s more, that $388.6 million revenue total tracks only the SESAC businesses that are part of the collateral for the February 2024 securitization offering, which included SESAC, Christian Copyrights and Audio Network. Revenue from the Harry Fox Agency (HFA), the Stephen Arnold Group (SAG) and a few other smaller entities are not included as collateral. With HFA and SGA consistently reaching a combined total of $20 million to $25 million, according to revenue numbers given in earlier SESAC bond rating documents — published by the likes of Morningstar and the Kroll Bond Rating Agency — for 2022 and 2019 SESAC bond offerings, it’s conceivable that SESAC’s revenue was already above $400 million by the end of its most recent fiscal year. Those assets are included in what’s being shopped, sources say.
A 2019 Morningstar analysis found that SESAC has had a 12.9% annual growth rate since 1994. While that report didn’t cite revenue from those earlier years, other SESAC-related documents obtained by Billboard through the years show that SESAC had grown from $9 million in revenue in 1994 to about $57 million by 2004, then to about $206 million by 2014 and about $275 million by 2018.
While it’s unclear what price will tempt Blackstone to sell, sources say that as recently as last year, Blackstone and SESAC executives were saying that the PRO and its subsidiary companies were carrying about a $2 billion to $2.5 billion valuation. However, that’s when its securitized net cash flow was $118 million on collections (revenue) of about $318 million, versus the latest financials, which put securitized net cash flow at $147 million on $388.6 million in revenue, according to the Kroll report. That represents increases of 24.6% in securitized net cash flow and nearly 22.2% in collections/revenue over the prior year. Besides that growth, the implied valuation of SESAC is further enhanced by the BMI and GMR deals, which shows that PROs are attractive to private equity, sources say.
Unlike BMI and ASCAP, SESAC and GMR are not stymied by consent decrees, which is also a positive as far as private equity is concerned. A further deal point is that SESAC has a diversified revenue base. According to the Kroll report, at the end of fiscal year 2024, SESAC derived 37.2% of its annual revenue from general licensing, 21.7% from digital, 18.9% from TV, 9.7% from Audio Network, 6.4% from radio, 0.7% from foreign affiliates and 5.5% from other efforts.
On the other hand, that percentage breakout shows that even with the company’s diversification efforts into related music industry functions, its core business remains SESAC’s performance rights licensing, which it does through a boutique strategy of inviting songwriters to join as members. Through this strategy, it has landed such clients as Bob Dylan, Adele and Neil Diamond.
Still yet another plus that suitors will find attractive, says a music industry source, is the savvy stewardship of SESAC under Josephson. “He is been very effective there,” that source adds.
Moreover, in order to improve profitability, SESAC has been quietly pruning songwriters who are not generating enough royalties from their catalog. According to Kroll, the number of songwriter and publisher affiliates (with the former presumably the preponderance of the total), has shrunk from 35,000 in 2019 to 15,000 last year.
Pricing is paramount in whether Blackstone will do a deal. But it will be weighted against the possible return on investment if it chooses to retain ownership of SESAC. As it is, Blackstone and its equity investors likely have already clawed back a good portion of their initial investment in SESAC. In addition to the aforementioned possible equity distribution from the February bond offering, during the eight years it has owned SESAC, it’s likely that Blackstone made earlier dividend payouts to investors from the PRO’s profits down through the years; and possibly from earlier bond offerings, too. Besides that, Blackstone has provided itself with an annual $30 million management fee as measured against 16% of SESAC’s core retained collections, whichever is greater. (While the rating agencies do not define core retained collections, that could be the equivalent of net publisher share — what’s left after making royalty payments to songwriters and publishers.)
As for possible suitors, so far the only private equity firm that has come up in more than one conversation with music industry sources is TA Associates, a Boston-based private equity firm that says it has raised $65 billion in capital. A perusal of the investment firm’s website reveals that it has invested in another music company: In 2022, it acquired TouchTunes, the digital jukebox network that supplies music to bars, clubs, restaurants and other social spaces in North America and Europe. Moreover, a source says that TA may have even looked at SESAC in the past; SESAC has come up for sale a few times over the years and consequently had a few other institutional investor owners in the past, including Rizvi Traverse; before that, Oct-Ziff Capital Management Group was a minority shareholder in the company.
TA Associates representatives couldn’t be reached for comment over the year-end holidays.
Moelis, which is one of the banks said to be shopping SESAC, has made its mark elsewhere in the music business in 2024. Earlier this year, it was the buy-side advisor to New Mountain Capital in its BMI acquisition and the sell-side advisor for GMR in its search for an investor to replace the Texas Pacific Group. Morgan Stanley has music industry experience, including investing with Kobalt in making music acquisitions, among other deals.
Additional reporting by Elizabeth Dilts Marshall.
LONDON — Proposed changes to U.K. copyright law that would allow tech companies to freely use songs for AI training without permission threaten to place the country’s status as a “world music power” at risk, record labels trade body BPI has warned.
In 2024, hit records by Charli XCX, Sabrina Carpenter, Coldplay and Taylor Swift helped lift the United Kingdom’s streaming market to a record high with just under 200 billion music tracks streamed across the 12 months, up 11% year-on-year, according to year-end figures released Tuesday (Dec. 31) by BPI.
Overall recorded music consumption across streaming and physical album sales rose by a tenth (9.7%) on 2023’s total to 201 million equivalent albums, marking a decade of uninterrupted growth, reports the organization, which represents over 500 independent record labels, as well as the U.K. arms of the three majors: Universal Music Group, Sony Music Entertainment and Warner Music Group.
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However, the success of the U.K. music business is being challenged on multiple fronts, including intensifying competition from other global markets and proposed regulations around the use of artificial intelligence (AI), says BPI.
The proposed AI guidelines were announced by the British government two weeks ago (Dec. 17) as part of a 10-week consultation on how copyright-protected content, such as music, can lawfully be used by tech companies to train generative AI models. Among them is a controversial new data mining exception that would allow developers to use copyrighted songs for AI training, including commercial purposes, but only in instances where rights holders have not reserved their rights.
BPI chief executive Jo Twist said the proposed opt out mechanism was the “wrong way to realise the exciting potential of AI” and places the U.K.’s music and creative industries at risk by allowing “international tech giants to train AI models on artists’ work without payment or permission.”
“The U.K. remains a world music power, but this status cannot be taken for granted,” said Twist in a statement accompanying Tuesday’s year-end figures. She said that in order to continue to thrive, the U.K. music business needs “a supportive policy environment that puts the focus on human artistry and enables continued investment in the next generation of British talent.”
Of the current generation, more than 20 British groups and solo acts topped the U.K. albums chart in 2024, although Charli XCX and Coldplay were the only homegrown artists in the year’s top 10 best-selling artist albums list, occupying the eighth and ninth positions with Brat and Moon Music, respectively. Veteran British American rock band Fleetwood Mac had the year’s seventh most popular album with their compilation 50 Years – Don’t Stop.
Topping the year-end albums list was Taylor Swift’s The Tortured Poets Department, which has sold over 783,000 equivalent units since its release in April – the most for any artist release in a calendar year since 2017, reports BPI. The Tortured Poets Department was one of four albums by Swift to feature among the year’s 20 biggest titles alongside 1989 (Taylor’s Version), Lover and Folklore.
In total, female artists accounted for six of the top 10 and half of the 20 biggest selling artist albums in the U.K. last year with hit releases by Sabrina Carpenter, Billie Eilish, Chappell Roan and Olivia Rodrigo helping make it a landmark year for women.
Female artists also spent an unprecedented 34 weeks at No. 1 on the United Kingdom’s official singles chart, largely driven by Carpenter, who spent 21 weeks at the top with her three hit singles: “Espresso, “Please Please Please” and “Taste.” The best-selling single in the U.K. last year was Noah Kahan‘s “Stick Season,” which topped the U.K. charts for seven weeks, followed by Benson Boone‘s “Beautiful Things.”
Vinyl helps physical album sales return to growth
In terms of formats, streaming now makes up 88.8% of music sales in the United Kingdom, a marginal 1.1% rise on 2023’s figure and more than double streaming’s share of the U.K. market six years ago, reports BPI.
Meanwhile, physical sales experienced year-on-year growth for the first time since 1994 with vinyl and CD album purchases up 1.4% to 17.4 million units. Driving the resurgence in physical formats was a 17th consecutive annual rise in vinyl album sales which grew by just over 9% to 6.7 million units, marking a three-decade high.
The year’s most popular vinyl album was Swift’s The Tortured Poets Department, which sold more than 111,000 vinyl copies, followed by a 30th anniversary reissue of Oasis‘ debut Definitely Maybe. Other top-selling vinyl titles included Eilish’s Hit Me Hard And Soft, Fontaines D.C.‘ Romance, The Cure‘s Songs Of A Lost World and Charli XCX’s Brat.
CD sales fell 2.9% year-on-year to 10.5 million units, representing a significant slowdown on the 19% drop recorded in 2022 and the almost 7% slide in sales experienced in 2023. Digital album sales dropped almost 6% to 3.3 million units.
BPI’s preliminary year-end report doesn’t include financial sales data. Instead, it uses Official Charts Company data to measure U.K. music consumption in terms of volume. The London-based organization will publish its full year-end report, including recorded music revenues, later this year.
The U.K. is the world’s third-biggest recorded music market behind the U.S. and Japan with sales of $1.9 billion in 2023, according to IFPI. It is also the second-largest exporter of recorded music worldwide behind the U.S.
Tougher competition from other international markets, including Latin America and fast-growing countries like South Korea, has seen the U.K.’s share of the global recorded music market shrink over the past decade, however.
In 2015, artists from the United Kingdom cumulatively accounted for 17% of global music streams, according to BPI export figures. That figure now stands at 10% with U.K. artists accounting for just nine of the top 40 tracks streamed in the country last year – the highest being “Stargazing” by Myles Smith at number 12.
“From Coldplay, and Charli XCX, to The Last Dinner Party, and Myles Smith, there were plenty of examples of U.K. music success stories in 2024. But there are also rising challenges for domestic talent in a rapidly changing and hyper-competitive global music economy,” said BPI’s Jo Twist.
“By meeting the growing global challenge head-on, tackling challenges around AI, copyright and streaming fraud, and encouraging consumers towards viable models, like paid streaming subscriptions, we can help to ensure that the value of British music is protected and that our industry can continue to grow and flourish at home and around the world,” she said.
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Music Business Year In Review
Salem Media Group has sold its seven remaining Contemporary Christian-formatted radio stations to the Educational Media Foundation (EMF) for $80 million, the company announced Monday (Dec. 30).
The agreement, which is pending approval from the Federal Communications Commission (FCC), will add or expand EMF programming to seven U.S. markets, with stations including KLTY-FM in Arlington, Texas; WFSH-FM in Athens, Ga.; WFHM-FM in Cleveland; KFSH-FM in La Mirada, Calif.; KKFS-FM in Lincoln, Calif.; KBIQ-FM in Manitou Springs, Colo.; and KFIS-FM in Scappoose, Oreg.
EMF — the parent organization of Christian radio networks Air1 and K-LOVE — noted in a statement that it intends to launch K-LOVE or Air1 Worship Now programming on those signals according to market needs, pending FCC approval. It indicated that it aims to begin programming the stations via a local marketing agreement on Feb. 1.
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Also on Monday, Salem announced that it has entered into an advertising and marketing agreement with EMF for $10 million.
Through its Air1 and K-LOVE networks, EMF reaches approximately 18 million listeners each week. Its Air1 and K-LOVE radio networks have over 1,100 broadcast signals across all 50 states, with global reach through streaming audio.
Salem Media Group’s CCM-formatted radio stations were most commonly operated under the nickname “The Fish.” Founded as Salem Communications in 1974, the company rebranded as Salem Media Group in 2015. It has since grown to become a multimedia company with properties including talk radio, digital media and book/newsletter publishing. According to a March 2024 corporate guide, the company’s other radio signals include 38 Christian teaching and talk radio stations and 30 news talk stations.
Salem’s sale of the seven stations came as part of a group of strategic transactions aimed at shoring up the company’s financial security. As part of this effort, the company repurchased all $159.4 million in outstanding 7.125% senior secured notes due 2028 for $104 million cash and $24 million in subordinated unsecured promissory notes. By midyear 2025, those notes are slated to be exchanged for series A preferred stock. Salem also issued $40 million in series B convertible preferred stock to the foundation WaterStone, with proceeds being used to fund Salem’s debt repurchase. On Dec. 23, Salem extended its revolver line of credit with Siena Lending Group for one year.
“As Salem has leaned into its talk and information programming, we are honored to carry the torch and keep Christian music flowing over these frequencies,” said Tom Stultz, EMF’s interim CEO, in a statement. “These strong stations expand our coverage area and help us deliver on our mission to reach more people with the gospel of Jesus Christ. We feel it is an incredible opportunity to continue serving listeners with Christian music in these important markets.”
Edward G. Atsinger, Salem Media Group’s executive chairman/co-founder, said in a statement, “We have made a strategic decision to exit the Contemporary Christian Music format in order to pay off all of Salem’s long-term debt. We could not be more delighted that the buyer is EMF. EMF has demonstrated over many years a unique ability and dedication to creating and distributing the highest quality Christian music content to its listeners in a positive and encouraging way. I am confident that their impact on listeners and their communities will be incredibly effective.”
This isn’t Salem’s first sale to EMF. In March, the company sold its stations in Nashville and Honolulu to EMF for $7 million.
Five individuals have been charged in connection with the death of Liam Payne, the former One Direction singer who died Oct. 16 after falling from a hotel balcony in Buenos Aires, according to a public notice by Argentina‘s National Criminal and Correctional Prosecutor’s Office.
Those charged include hotel manager Gilda Martin, receptionist Esteban Grassi, and Payne’s friend Roger Nores, all facing manslaughter charges. Additionally, hotel employee Ezequiel Pereyra and waiter Braian Paiz have been charged with supplying drugs. In Argentina’s legal system, prosecutors gather evidence for a judge to determine whether to proceed to trial. Judge Laura Bruniard has moved the case to the next stage, a decision the defendants’ lawyers may appeal. If the appeal fails, the case will proceed to trial.
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Court documents identify the suspects only by their initials. Payne’s friend, identified as “RLN,” is accused of manslaughter for allegedly neglecting his duty of care and abandoning Payne despite knowing of his impaired state due to substance abuses. Hotel manager “GAM” is also charged with manslaughter for failing to prevent Payne from being taken to his room under circumstances deemed hazardous. Chief receptionist “ERG” faces similar charges for allegedly instructing others to forcibly take Payne to his room instead of ensuring his safety.
“Payne’s consciousness was altered and there was a balcony in the room,” the judge said. “The proper thing to do was to leave him in a safe place and with company until a doctor arrived. The people responsible at the hotel that day were the manager GAM and the head of reception ERG.”
Judge Bruniard emphasized that while these individuals likely did not intend for Payne to die, their actions or inactions posed significant risks to his life. “They were imprudent in allowing him to be taken to the room and taking him there respectively,” he concluded. “They created a legally disapproved risk and Payne’s death is the concretization of that risk.”
If convicted, the manslaughter charges carry sentences of one to five years in prison, while the drug-supplying charges carry much harsher penalties, ranging from four to 15 years, according to the BBC. The judge ordered Pereyra and Paiz, the two individuals accused of supplying drugs, to remain in custody and appear in court within 24 hours.
Payne’s death was attributed to multiple traumas and hemorrhages resulting from a fall from the third-floor balcony at the CasaSur Palermo Hotel. Toxicology reports revealed the presence of alcohol, cocaine and prescription antidepressants in his system. Before the fatal incident, the head receptionist made two emergency calls — the first call reported a guest “trashing the entire room,” and the second raised concerns that the guest’s life “may be in danger.” Despite these concerns, the receptionist requested only medical services, not police assistance.
Last month, Payne’s funeral was held in Amersham in the UK. It was attended by his former One Direction bandmates — Harry Styles, Louis Tomlinson, Niall Horan and Zayn Malik — as well as his girlfriend Kate Cassidy and ex-partner Cheryl Cole, with whom he shares a son.
Charles F. Dolan, who founded some of the most prominent U.S. media companies including Home Box Office Inc. and Cablevision Systems Corp., has died at age 98. A statement issued Saturday by his family said Dolan died of natural causes, Newsday reported late Saturday.
“It is with deep sorrow that we announce the passing of our beloved father and patriarch, Charles Dolan, the visionary founder of HBO and Cablevision,” the statement said.
Dolan’s legacy in cable broadcasting includes the 1972 launch of Home Box Office, later known as HBO, and founding Cablevision in 1973 and the American Movie Classics television station in 1984. He also launched News 12 in New York City, the first 24-hour cable channel for local news in the U.S., Newsday reported.
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The Cleveland native, who dropped out of John Carroll University in suburban Cleveland, completed the sale of Cablevision to Altice, a European telecommunications and cable company, for $17.7 billion in June 2016.
Dolan, whose primary home was in Cove Neck Village on Long Island in New York, also held controlling stakes in companies that owned Madison Square Garden, Radio City Music Hall and the New York Knicks and New York Rangers sports franchises, Newsday reported.
James L. Dolan, one of his sons, was the Cablevision CEO from 1995 until the 2016 sale to Altice. He now is the executive chairman and CEO of Madison Square Garden Sports Corp. The company owns the Knicks and Rangers, among other properties, according to the MSG Sports website.
A statement from MSG Entertainment, MSG Sports and Sphere Entertainment recalled Dolan’s “vision.”
“Mr. Dolan’s vision built the foundation for the companies we are today, and as a member of our Boards he continued to help shape our future. The impact he made on the media, sports, and entertainment industries, including as the founder of Cablevision and HBO, is immeasurable,” the statement said. “We do not expect this to directly or indirectly change ownership by the Dolan family.”
Newsday, which Cablevision purchased in 2008, also came under the control of Altice with the sale. Patrick Dolan, another son of Charles Dolan, led a group that repurchased 75% of Newsday Media Group in July 2016. Patrick Dolan then purchased the remaining 25% stake in 2018.
At the time of his death, Charles Dolan and his family had a net worth of $5.4 billion, Forbes reported.
Dolan was a founder and chairman emeritus of The Lustgarten Foundation in Uniondale, New York, which conducts pancreatic cancer research.
He is survived by six children, 19 grandchildren and five great-grandchildren. His wife, Helen Ann Dolan, died in 2023, Newsday reported.
In a week with little news and few regulatory filings, music stocks finished the last full week of 2024 by dropping for the third consecutive week. The 20-company Billboard Global Music Index (BGMI) fell 0.6% to 2,155.51, lowering its year-to-date gain to 40.5%. The index has fallen 5.5% over three weeks after rising 14.6% over […]
President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue.
The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk.
“President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case and was written by D. John Sauer, Trump’s choice for solicitor general.
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The argument submitted to the court is the latest example of Trump inserting himself in national issues before he takes office. The Republican president-elect has already begun negotiating with other countries over his plans to impose tariffs, and he intervened earlier this month in a plan to fund the federal government, calling for a bipartisan plan to be rejected and sending Republicans back to the negotiating table.
He has been holding meetings with foreign leaders and business officials at his Mar-a-Lago club in Florida while he assembles his administration, including a meeting last week with TikTok CEO Shou Chew.
Trump has reversed his position on the popular app, having tried to ban it during his first term in office over national security concerns. He joined TikTok during his 2024 presidential campaign and his team used it to connect with younger voters, especially male voters, by pushing content that was often macho and aimed at going viral.
He said earlier this year that he still believed there were national security risks with TikTok, but that he opposed banning it.
The filings Friday come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. The law was signed by President Joe Biden in April after it passed Congress with broad bipartisan support. TikTok and ByteDance filed a legal challenge afterwards.
Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute, leading TikTok to appeal the case to the Supreme Court.
The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.”
In their brief to the Supreme Court on Friday, attorneys for TikTok and its parent company ByteDance argued the federal appeals court erred in its ruling and based its decision on “alleged ‘risks’ that China could exercise control” over TikTok’s U.S. platform by pressuring its foreign affiliates.
The Biden administration has argued in court that TikTok poses a national security risk due to its connections to China. Officials say Chinese authorities can compel ByteDance to hand over information on TikTok’s U.S. patrons or use the platform to spread or suppress information.
But the government “concedes that it has no evidence China has ever attempted to do so,” TikTok’s legal filing said, adding that the U.S. fears are predicated on future risks.
In its filing Friday, the Biden administration said because TikTok “is integrated with ByteDance and relies on its propriety engine developed and maintained in China,” its corporate structure carries with it risk.
This story was originally published by The Associated Press.