Business
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Daniel Mora has been appointed managing director of Warner Music Andes, where he will oversee the company’s operations in Colombia and Peru, and will report to president of Warner Music Latin America, Alejandro Duque, the company announced. Mora replaces Maria Montejo who left the company earlier this month.
Mora first joined Warner Chappell Music in 2013 as an A&R/Sync consultant at the Colombian office and was later promoted to managing director of WCM Colombia in 2019.
“After spending so many enjoyable years at Warner Chappell Music, I’m pleased to be staying within the WMG family and stepping into this role on the Recorded Music side,” he said in a press statement. “Latin music is in my blood, and I’m delighted to see how it’s currently growing and connecting with people around the world. There are so many great opportunities for our artists to become global stars and I’m looking forward to helping them achieve their dreams. I’d like to thank Alejandro for this new opportunity, and Gustavo Menendez, Guy Moot, and Carianne Marshall for all their support during my time at Warner Chappell Music.”
In addition to his experience as an industry executive, Mora is also an artist and entrepreneur. He previously toured Latin America as part of the tropipop band, Bonka, which made waves with their debut single “El Problemón” (2006) and freshman studio album Lo Que Nunca Nos Contamos; and launched his own audiovisual company in Bogotá, producing films and commercials for brands such as Chevrolet and Adidas, to name a few.
“Daniel is a brilliant exec who has experience of being on both sides of the fence – first as an artist and now as a leading industry figure,” Duque added. “His understanding of both perspectives makes him the perfect fit for Warner Music and our artist-first philosophy. His appointment will enable us to work even closer with our partners at Warner Chappell Music and will open up more opportunities for collaboration. Latin music is exploding around the world and I’m excited to see how Daniel can further propel our Colombian and Peruvian artists internationally.”
For more than two years, Another Planet Entertainment has been quietly working with the creator of iconic venues like Manhattan’s Mercury Lounge and LA’s Teragram Ballroom to launch a new 1,600-capacity venue in downtown Los Angeles — with a goal to shake up the city’s highly competitive venue landscape.
The real estate for The Bellwether, located at 333 Boylston between third and fourth streets just west of downtown and the 110 freeway, was discovered in 2020 by Michael Swier, one of the original partners in New York’s Bowery Presents and an owner of the Teragram and the Moroccan Lounge. Hoping to keep the project off the radar of better financed competitors, Swier began looking for a partner on the 49,000 sq-ft- multi-genre performance space, with an open GA floor, wrap around balcony, multiple bars, a commercial kitchen and a private 600-capacity event space.
333 Boylston has mostly been occupied by night club operators the past three decades, including Prince, who named the night spot after his song “Glam Slam” and from 1992 to 1995 adorned it with huge purple dance floors, heavy gold mesh fabric and a jewel-strewn bed cradled in a sculpted hand from Prince’s Erotic City concert tour. What followed was nearly three failed decades of trying to operate the multilevel space as a dance club. Thinking a music performance venue was a better fit, Swier would eventually find a partner, striking a deal with Another Planet Entertainment’s Gregg Perloff and Allen Scott to partner on a long-term lease and two-year renovation effort expected to wrap up this spring.
Scott and Swier were at the Bellwether earlier this week, touring the sprawling complex which will also house a year-round bar and restaurant, a 600-capacity private event space and offices for both Another Planet and Telegraph Road Management, Laurence Freedmans management company whose clients include Billy Idol, Mike Campbell, Benmont Tench, Cherry Glazerr, Miya Folick and Advertisement. The Bellwether is Another Planet’s first foray into Los Angeles, hometown turf for APE’s two main competitors in the Bay Area where Perloff and company operate the Bill Graham Civic Auditorium, the Greek Theate, Oakland’s Fox Theatre, the independent and San Francisco’s famed Castro Theater, currently under renovation. Live Nation’s holdings in San Francisco include the Fillmore and the recently opened August Hall, while AEG operates the Warfield, the Regency Ballroom and the Great American Hall.
LA’s venue landscape is even more crowded with each company operating a half-dozen venues in the city and independently owned venues like the Troubadour, Largo and the Knitting Factory in North Hollywood. Size wise, the Bellwethers 1,600-capacity lands it between the Live Nation-owned Wiltern Theater (1,850 capacity) and AEG’s El Rey Theater (1,200).
Swier, a New Yorker who recently bought a loft in LA in preparation for the opening of his third venue in the city, is a highly accomplished venue designer and independent live music operator who along with his late wife Margaret and architect brother Brian Swier is best known for New York’s iconic Bowery Ballroom and Mercury Lounge. Swier is a co-founder of New York powerhouse promotion company Bowery Presents and is responsible for relaunching and redesigning Terminal 5 and the Music Hall of Williamsburg. Swier would eventually part ways with Bowery Presents, and in 2017, Bowery would sell a 50% stake in the company to AEG.
Perloff’s career has parallels to Swier – the Maryland native had a knack for concert promotion in college and caught the attention of legendary San Francisco promoter Bill Graham, who famously hired a young Perloff to avoid competing with him. Perloff became Graham’s understudy, and together with longtime BGP pioneer Sherry Wasserman, the three created the business model for the contemporary concert business. After Graham died in a helicopter crash, BGP was sold to SFX and eventually became one of the core components of Live Nation, which stills owns and manages the bulk of the BGP venue portfolio.
Perloff and Wasserman founded Another Planet in 2003 and launched the Outside Lands festival in 2008. Today it is the largest independently operated festival in the U.S., according to Billboard.
Swier didn’t know much about Perloff prior to reaching out to him in 2020 to discuss a potential partnership for the building. Both men decided to keep the project, keeping every detail of the project out of the public domain as they worked to sign the lease and then begin renovations. The stealth campaign worked – maybe too well. Months away from opening, the partners realized they needed to reach out to agents to start booking the building, which would end the secrecy. In fact, today’s decision to announce the existence of the project was made yesterday, a week earlier than planned. Meetings and private tours of the Bellwether are planned for next week during the annual Pollstar Live! conference in Los Angeles.
Alliance Entertainment’s plan to go public through a reverse merger with Adara Acquisition Corp. — a special-purpose acquisition company (SPAC) — got sideswiped by the collapse of the SPAC market.
While the deal was finalized Monday (Feb. 13) and Alliance Entertainment is now a publicly traded company, it leaves the media wholesaler without the initial intended benefit of reaping tens of millions of dollars in new funding to continue making acquisitions to fuel growth and to modernize its warehouse equipment.
That’s because only Adara shareholders owning 167,00 shares (out of 10 million total) have chosen to participate as stockholders in the merged entity. As a result, Alliance Entertainment only received about $1.67 million, which likely isn’t enough to cover the legal and investment banking fees for the transaction.
Alliance Entertainment Holding
The company’s light stock float also leaves it ineligible to be listed by the New York Stock Exchange as originally planned, so now Alliance is being carried on the OTC pink-sheet marketplace.
Alliance Entertainment — which carried a $480 million valuation going into the deal — remains a formidable powerhouse as a one-stop rack jobber and independent distributor and overall entertainment software wholesaler, however. While the company brought in $28.62 million in net income on revenue of $1.42 billion for its fiscal year ended June 30, 2022, it lost $8.34 million on sales of $238.7 million for the three-month period spanning from July to September.
Alliance Entertainment announced its plans to go public via a SPAC reverse merger in June 2022. At that point, investor excitement over the SPAC route to public listings had already cooled from its high in 2021, but by the end of the year, it had totally tanked. And even if Alliance Entertainment didn’t raise as much money as it had hoped by going public, there are other benefits. As a publicly traded company with audited financial statements that need to surpass the scrutiny of the Securities and Exchange Commission, it should now be able access capital and options to raise funding through debt beyond its previous reliance on bank loans.
“We believe that today’s milestone combined with our strong revenue growth, expanding customer base and product offering, and several successful acquisitions, will help accelerate our future expansion initiatives,” said Alliance Entertainment CEO Jeff Walker in a statement. “Alliance Entertainment today is well positioned to continue to capitalize on shifts towards eCommerce and Omni-Channel strategies, especially with retailers and manufacturers’ vastly increased reliance on their DTC (Direct to Consumer) fulfillment and distribution partners. We are at an inflection point that now positions us to execute a multi-prong growth strategy that we expect will deliver a double-digit revenue growth rate with strong cash generation to the bottom line.”
Alliance Entertainment serves as a physical music, movies and video games wholesaler to retailers including Amazon, Best Buy, Target, Kohls and Gamestop, as well as independent stores; it’s also a rack jobber to chains like Walmart and Barnes and Noble. It additionally provides e-commerce fulfillment to many of those retailers and runs its own online websites including Deepdiscount.com, Popmarket.com, Importcds.com, Critic’s Choice Video, Collectors Choice Music and Movies Unlimited, while fielding its own brands on eBay, Amazon Marketplace and Discogs as well. In total, nearly $540 million, or 38% of Alliance’s revenue, is generated through the above online sales.
In total, Alliance says it stocks over 485,000 unique entertainment products from Microsoft, Nintendo, Activision, Electronic Arts, Sega, Funko, Disney, Warner Home Video, Universal Video, Sony Pictures, Fox, Lionsgate, Paramount, Warner Music, Sony Music, Universal Music, Mattel, Lego, Hasbro, Arcade1Up and another roughly 500 entertainment product manufacturers. Within that, the company also fields independent distribution companies like music distributor AMPED, video distributor Solutions and video game distributor Cokem that exclusively carry over 57,000 vinyl, CD, DVD and video games titles combined.
“This business combination [with Adara] will further enable our significant focus on a strategic roll-up strategy of acquiring and integrating competitors and complementary businesses which we believe will drive an accelerated competitive position and value creation,” said Alliance Entertainment chairman Bruce Ogilvie in a statement. Being a publicly traded company will allow for further investment, he added, in automating facilities and upgrading proprietary software, which he said makes management “confident we can grow revenue and expand margins.”
Ogilvie continued, “We will also continue to expand into new consumer product segments, growing our product offering and providing more to our existing customer base while attracting new customers in the process.”
Walker and Ogilvie retain nearly 95% ownership in Alliance Entertainment and their shares are subject to an extended lock-up period.
Baton
Baton is a collaboration platform that solves chain of custody for work in progress material, ensuring artists are properly credited and compensated for their work. Think of them a bit like GitHub for music.
Since launching a private beta this past fall, Baton has helped connect hundreds of artists with multiple Grammy-winners and has protected the IP of thousands of songs.
The team is a mix of creative technologists from NYU ITP, an “art school for engineers or an engineering school for artists” and industry veterans that have spent over a decade working with many of the largest artists in the world.
Gabe Warshaw, CEO & Founder, Baton said, “The vast majority of music that gets made never gets released. So much of it is incredible, and it’s never been easier to create without a professional studio. At the same time, remote collaboration has left creators increasingly vulnerable to stolen IP. Baton is building an ecosystem that helps musicians find their people. It allows material to be worked on and shared safely with anyone in the world, so creators know that wherever their work ends up, they’ll get credited and compensated in the way they should.”
BEEPR
BEEPR allows fans to opt-in to push notifications about music from their favorite artists, creating ephemeral moments between fans with shared interests. Launched in Summer 2020, BEEPR has garnered 300,000 registered users and 100,000 monthly active users with $0 spent on marketing. BEEPR has helped DSP’s gain over 70 million streams this year. BEEPR’s goal is to create moments in music powered by push notifications.
Jake Zinn, CEO & Founder, BEEPR stated, “Technology has made the music listening experience more convenient. While the streaming services have provided fans what they want to hear, BEEPR provides when they want to hear it.”
Confetti
Confetti is a content creation and live-streaming app that enables couples to get the most out of their weddings by empowering in-person and virtual guests to create fun and memorable content through custom prompts. Say goodbye to stale photos, videos, and your aunt going live on FaceBook, and say hello to beautiful and unforgettable memories that will last a lifetime, whether you’re seated at Table 8 or 3,000 miles away. With Confetti, you have one less thing to worry about on your big day.
Andrew Vuu, CEO, Confetti, said: “Today, wedding guests are creating amazing content and sharing media, which has generated hundreds of billions of impressions on social platforms. However, the problem is that the only way couples can access this great content is through clunky shared albums or by harassing people via text. Currently, we are revolutionizing the wedding industry by providing social media communities with front-row access to their favorite creators’ biggest day through our platform. We are on track to reach 100 million fans across 10 different countries over the next year and have organically generated over 15 million social media views on our path to transform the wedding experience. We are thrilled to extend the power of Confetti to couples everywhere this summer.”
Five Mics
Five Mics is a digital hip-hop trading card game (think Yugioh or Hearthstone, but with rappers and DJs, not elves and dragons). Players construct their decks based around different card styles and can choose to play either casually with friends or competitively in tournaments. With each win, players can also earn new cards, which they own and can collect, trade, or gift to other players.
The collectible card game market is expected to reach $32B by 2027, and hip-hop (the #1 streaming genre in the US accounting for $2.7B in 2021) is arguably the most popular music genre in the world, influencing Latin Trap, Afrobeats, K-Hip-Hop, and more around the globe. Five Mics is determined to bring the two together in an authentic way never before seen, made by the culture, for the culture.
Ace Patterson, CEO, Five Mics, added: “Go on Twitch right now, and more likely than not you’ll find gamers streaming while playing hip-hop music. That’s the dope thing about hip-hop: it’s truly universal. It’s not just for ‘some’ people – it’s for ALL people. And as someone that’s both a hip-hop artist that loves playing trading card games, I truly believe that combining both worlds will impact culture in a seismic way.”
Haven
Haven’s network of event & lifestyle brands host sound-based experiences in stunning outdoor & unconventional indoor spaces. It could be a harpist in a canyon at sunset for Floating or a pioneering composer performing in a historic cathedral for Ambient Church, over 16,000 people gathered with us (in person!) this past year in NYC, LA, Chicago, Portland and Seattle. Other investors include 6lack, Oleg Stavitsky (Co-Founder / CEO, Endel), and Anthony Batt (Founder, SpinMedia).
Brian Schopfel, CEO, Haven, said: “Tech, entertainment and wellness industries have continued to become more algorithmic, reward based, and impersonal; only fueling burnout long term. Haven encourages being vs. doing, inclusion vs. achievement, and IRL vs. URL, and we’re thrilled to be a part of the Techstars Music program to continue to learn, grow and share our experiences with as many people as possible.”
Highly Liquid
Highly Liquid is a streetwear brand born on the internet: a fashion house that combines both digital and physical worlds to create limited-edition drops of apparel, software, and CPG. Our products are designed to spark meaningful conversations around sexuality, gender, and identity, and their role within the financial landscape.
Izzy Howell, CEO, Highly Liquid, said: “Selling panties on the internet doesn’t really sound like the start of a revolution, but by creating NFTs that can be redeemed for IRL panties that say ‘highly liquid’ on the crotch, we are effectively starting a new wave in streetwear – one that puts hyper-femininity at the forefront of culture.”
HomeRoom
HomeRoom is a software platform that unlocks the powerful growth potential of online communities. In the digital age, it’s become increasingly difficult for businesses, creators, and musicians to cut through the noise. HomeRoom provides a suite of tools to enable community leaders to save time with their daily tasks, analytics to measure success, and plugins for hosting memorable community events.
Launched to the public in September 2022, HomeRoom now powers 170+ communities of over 200k combined members and has scaled to $22k MRR with only 70 paying customers. With integrations planned for Twitch, Mastodon, and GitHub by the end of 2023, HomeRoom is building the “Google Analytics for community.”
Arjay Ruggles, CEO, HomeRoom says: ”Audiences are exhausted by the deluge of ads inserted into every aspect of their online experience and have turned to online communities as a source of respite. In response, we’ve seen several companies capitalize on the moment: AirBnB ramped up their community strategy in 2020, cut their marketing spend in half for two years in a row, and have reached a $71 Billion market cap. I believe all businesses and creators should have access to the tools necessary to build the same opportunities for themselves. Community is the future of growth, and HomeRoom is building the foundation upon which all businesses can thrive.”
OBEYme
OBEYme is a social platform where African music fans compete to make songs go viral globally by hosting virtual parties. The most engaging users are rewarded with a pro-rata share of net subscription revenues daily. The result: African tastemakers can host the continent’s hottest parties but also monetize their local influence sustainably. In its first 3 months, 50k South African youth party-hopped virtually on OBEYme’s Beta platform.
Ygor Francisco, CEO/founder, OBEYme, stated: “The time is ripe for leveraging a music-based social platform that rewards Africa’s most influential music fans for driving the culture. Pop culture is dominated by Afrobeats and Amapiano, yet offers African fans and artists disproportionate compensation for their contribution to global music culture.”
RYLTY
RYLTY is a back-office application that helps music catalog owners maximize their investments. The first tool scans owners’ catalogs to seek out errors and omissions that cause royalty underpayments. What used to take a team of royalty accountants, analysts, and administrators days to complete, can now be done with the push of a button. To date, RYLTY has corrected over 3,000 errors and recovered more than $20 million in catalog value. Select customers include Tempo Music, Influence Media Partners, Doja Cat, Troye Sivan, and J.I.D.
Nicholas Judd, CEO, RYLTY, said: “You can’t build a company like ours in a bubble and Techstars Music is the perfect partner to help us expand our reach to help more musicians and catalog owners. We are taking a practical, multi-disciplinary approach to solve this multi-billion dollar problem. Our team is made up of some of the brightest minds in both music and fintech allowing us to take what used to be a manual process and scale it to reach every recording artist, songwriter, and catalog owner in the music industry.”
Seed
Even though Latin artists dominate the music industry today, there’s at least 25 million Latin music creators that don’t have access to music business education, losing time, money and opportunities.
Seed helps Latin music creators and their teams navigate the music industry, protect their rights and make money through an ever-growing catalog of online courses and community. Think of a private business school minus the crippling debt.
In just 15 months, Seed has enrolled more than 921 students from 36 countries, made almost half a million dollars in revenue, and closed more than 5 corporate partnerships. If you want to become a music business professional or entrepreneur, join Seed today!
Alexiomar Rodriguez, CEO, Seed, stated: “The Latin music market is a driving force behind the global music industry, with US Latin music revenues reaching $1 billion in 2022. However, in many Latin American countries, there are no music business schools, and most Latin music creators and aspiring professionals can’t afford to move to the US to attend a university and pay $40,000 in tuition per year. As a music lawyer and producer, I believe bridging this gap will open a whole new world of possibilities.”
Utopia Music is facing a lawsuit that claims the Swiss company has bailed on a $26.5 million deal to buy a U.S. music technology company called SourceAudio — and now owes more than $37 million.
In a complaint filed Monday (Feb. 13) in Delaware court, lawyers for California-based SourceAudio — a tech platform for digital asset management and monetization — claimed that the company had struck a deal in March 2022 to sell itself to Utopia, a buzzy music fintech firm that has reached a number of such deals over the past two years.
But SourceAudio’s lawsuit says that since striking the deal on March 14 — which could have closed as soon as May 9 — the bigger company has continually balked at actually completing the deal, informing them it was “not prepared to close the transaction.”
“Despite repeated assurances that Utopia would be able to close…, Utopia engaged in a pattern of discontinuing discussions for an extended period of time, only to resurface immediately before the next intended closing date to indicate that it was unable to close by such date,” the complaint reads.
To account for the delays, SourceAudio claims that Utopia agreed to increase the sale price by $334,000 for every calendar week after Nov. 1 that the deal didn’t close. More than three months later, the lawsuit claims those escalators mean that Utopia now owes $37.265 million.
SourceAudio says it’s “ready, willing, and able” to finalize the deal, and that Utopia is legally bound to do so. “SourceAudio requests that Utopia be ordered to specifically perform its obligations,” the smaller company wrote. “In the alternative, SourceAudio has been damaged by Utopia’s breach in an amount to be determined at trial, but no less than $37.265 million.”
In a statement to Billboard, a spokesperson for Utopia refuted the lawsuit’s allegations but provided little additional detail: “Utopia Music rejects the claims made by the plaintiff. As the legal proceedings are ongoing, we will not comment further.”
Utopia, a Swiss-based tech company that delivers financial services for labels, publishers and distributors, has been on a buying spree over the past two years. The company has acquired at least 15 companies, including music tech company Musimap, U.K. physical distributor Cinram Novum and Lyric Financial, a provider of royalty-backed cash advances.
But in November, news broke that Utopia would restructure operations and lay off 20% of its workforce. As first reported by Music Week, CEO Markku Mäkeläinen told staffers in an internal email that the company had “grown via acquisitions tremendously quickly” and would now need to “realise synergies” and “remove overlaps.”
The National Independent Venue Association (NIVA) will host its latest conference this July in Washington, D.C.
The association — which successfully lobbied for the $16.25 billion Shuttered Venue Operators Grant (SVOG) for indie venues struggling through the pandemic — will bring together its members from July 10-12. The inaugural NIVA Conference was held last year in Cleveland with more than 650 members in attendance.
The 2023 edition will focus on topics including industry diversity, mental health, safety, insurance, the economic impact of live entertainment, booking, artist development, ticketing and the role of live entertainment in policymaking. NIVA ‘23 will also give members the opportunity to engage with the organization’s federal and national partners on Capitol Hill, in the Biden administration and throughout the D.C. region.
“In welcoming the NIVA conference to the District, we look forward to showcasing the independent venues and creatives who keep D.C. the capital of creativity,” said Washington, D.C. mayor Muriel Bowser in a release. “And we have a lot to be proud of — from our vibrant Go Go scene, to the venues that have hosted and built generations of music fans, to the festivals that bring Washingtonians together year after year. D.C. residents love going to festivals and shows and supporting artists, and we know the important role our creative community will continue to play in D.C. ‘s comeback. We look forward to bringing NIVA members and industry experts together in D.C., and we’ll see you in July.”
In addition to a full slate of programming, organizers promise live performances, a pre-party on July 9 and an awards gala July 10 at independent venue The Anthem that will celebrate live entertainment’s contribution to the nation. Events will take place at multiple NIVA music and comedy venues across Washington, D.C. During the evenings, attendees can take advantage of concerts and performances happening every night of the conference as NIVA ‘23 coincides with National Independent Venue Week, making D.C. the epicenter of independent live music in the country the week of July 10.
“Thousands of music and comedy venues across the country spent 2020 and 2021 focused on making the case to Washington D.C. policymakers that small businesses in live entertainment needed help to prevent the permanent loss of stages in every community, and NIVA’s efforts led to the largest arts investment in U.S. history,” said NIVA’s recently appointed executive director Stephen Parker in a release. “This summer, the nation’s music and comedy community will return to D.C. to illustrate why the partnership between government and the independent live entertainment industry must continue beyond the pandemic, to forge the future for independent music and comedy venues, festivals and promoters and to demonstrate their place in America’s culture and economy.”
NIVA is partnering with the following member venues and festivals to bring the 2023 conference to Washington, D.C.: All Things Go, Black Cat, DC Improv, DC9 Nightclub, Down in the Reeds Festival, I.M.P. (The Anthem, 9:30 Club and Lincoln Theatre), Listen Local First D.C., National Cannabis Festival, Pearl Street Warehouse, Rhizome, Songbyrd Music House, The Hamilton, The Pie Shop, The Pocket, U Street Music Hall Presents and Union Stage.
Further details on the conference’s programming and speakers will be announced at a later date. Registration information can be found here.
Newly minted Warner Music CEO Robert Kyncl and his wife, psychotherapist Luz Avila Kyncl, have signed on for another five years of scholarship support for select computer science and engineering students at their alma mater, SUNY New Paltz.
The five-year-old Robert Kyncl ’95 and Luz Avila Kyncl ’96 Computer Science & Engineering Scholarship Fund is designed to benefit underrepresented students, especially women and minorities, seeking careers in STEM. Each year, at least six new transfer students or current Hawks will be selected for the scholarship, which offsets tuition costs.
The success of the scholarship has led to the creation of a group of alumni called the Kyncl Scholars.
“State education provided us with great opportunities, both professionally and personally, and we want to help more students access those same benefits,” said the Kyncls in a joint statement. “In turn, this talented next generation will help drive change and contribute to a more representative workforce in dynamic industries.”
The Kyncls’ most recent gift also supports the Fund for New Paltz and the AMP/CSTEP (AC²) Program Fund, which provides economic support for a number of traditionally underrepresented students who earn degrees in STEM fields and certain other majors such as Psychology.
SUNY New Paltz is a short drive north of New York City in Ulster County. As the name of the scholarship suggests, Robert graduated in 1995 (International Relations) and Luz a year later (Psychology).
“The Kyncls’ generosity in this area sends an important message to prospective and current students that people in leadership positions believe in their ability to succeed,” said Erica Marks, vice president for development & alumni relations and executive director of the SUNY New Paltz Foundation. “The University is continually evolving to remain competitive in offering high-quality computer science and engineering education that prepares students for their future. Each year, a powerful new cohort of Kyncl Scholars will be equipped with the training to be effective and collaborative contributors in the community.”
Robert Kyncl joined WMG on Jan. 1 after a decade as chief business officer at YouTube and seven years as vp of content acquisitions at Netflix. Read his first interview as CEO here. Luz Kyncl is a longtime licensed psychotherapist, and a certified health coach and mindfulness teacher. She is also the author of Liberate Yourself.
Napster announced that it acquired Mint Songs, a music NFT marketplace that aims to help artists establish a thriving Web3 presence, on Wednesday (Feb. 15). The acquisition brings together a streaming service with a platform focused on creating digital collectibles.
Jon Vlassopulos, CEO of Napster, said in a statement that Mint Songs “have done groundbreaking work helping thousands of artists get their start in Web3, reach their fans in new creative ways through collectibles, and unlock significant new revenue streams.”
“We feel that the natural next step for the Napster service is to include collectibles that fans can get as rewards for engaging with artists they love or that they can purchase to collect and share,” he added to Forbes. “We already have hundreds of thousands of artist storefronts where our fans go to listen to music every day so adding collectibles is very contextual in the fan experience.”
Garrett Hughes, co-founder and CTO of Mint Songs, said in a statement that Napster has “the vision to finally take Web3 music to the mainstream.” “Our goal all along has been to create deep, engaging, and innovative ways for artists to connect with fans that also offer them an opportunity to monetize that fandom,” he continued. “Conversely, we see a demand from fans for a music service to offer more than just on-demand music and podcasts, which makes Napster’s ambitious goals all the more attractive.”
Mint Songs’ Nathan Pham will join Napster to lead Web3 product initiatives, while Hughes will serve as an advisor to the company and “work closely with Vlassopulos to integrate Mint Songs’ technology into the Napster platform,” according to the acquisition announcement.
Last year, Napster was acquired by a pair of companies with Web3 experience: Hivemind and Algorand. Vlassopulos, who had spent close to three years at Roblox, took over as Napster CEO in September. “We want to bring the community together and enable the artists, with the data we have, to activate their communities around things like access to physical events and digital experiences,” he said at the time. Napster then launched Napster Ventures for the purpose of acquiring Web3 music startups.
Matt Zhang, founder and managing partner of Hivemind, applauded the Mint Songs acquisition on Wednesday. “We are excited for Napster to be a central player in the music Web3 ecosystem and acquiring Mint Songs is a great foundational step,” he said in a statement. “The combination of Napster’s continued innovation that powers the platform currently along with Mint Songs’ technology IP and expertise, will help drive Web3 innovation for the music industry.”
Jason Miller is moving from Live Nation to Outback Presents, where he has taken the role of GM of the North East Division to help grow the independent promoter’s business.
Miller, most recently executive vp at Live Nation Entertainment, is a veteran of the live entertainment industry with more than 30 years of experience. Over the course of his career, he’s produced events for top artists and entertainers at the iconic venues including Madison Square Garden, Barclays Center, Prudential Center, Radio City Music Hall, Citi Field, Yankee Stadium, Carnegie Hall, The Beacon Theatre, Northwell Health at Jones Beach, MetLife Stadium and Central Park’s Great Lawn and SummerStage.
“This is a tremendous moment for me personally and professionally,” Miller said in a release. “The new position allows me to return to my creative roots and independent spirit. I’m proud to be able to continue working with world-class artists and events.”
Miller was with Live Nation for 16 years out of New York. While there, he worked with such major artists as Eagles, Fleetwood Mac, AC/DC, Pearl Jam, Prince, Lady Gaga, George Michael, Mariah Carey, Dead & Company, Swedish House Mafia, Iron Maiden, Guns N’ Roses, Lenny Kravitz, Sheryl Crow, Tom Petty & The Heartbreakers, Eminem, Radiohead, Jay-Z and Rage Against The Machine.
“Jason carries decades of knowledge, history, and integrity along with a vast pool of experience promoting and producing the highest class of events in North America,” said Outback Presents’ Mike Smardak, Brian Dorfman and Vaughn Millette in a joint statement. “We are proud to foster his creative spirit and thrive in a new era of live entertainment.”
Outback’s team has also recently grown with the hires of Everett Ramsey and Hardy McBee, formerly of Beaver Productions, as well as Fallon Nell, who returned to Outback after stints in both artist management and at Belmont University.
Elon Musk said Wednesday that he anticipates finding a CEO for Twitter “probably toward the end of this year.”
Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him.
“I think I need to stabilize the organization and just make sure it’s in a financial healthy place,” Musk said when asked about when he’d name a CEO. “I’m guessing probably toward the end of this year would be good timing to find someone else to run the company.”
It remains unclear how seriously Musk will take that timeline. His comment came only hours after he posted images of his shiba inu dog, Floki, on Twitter as the company’s “CEO.”
“So much better than that other guy!” wrote Musk, who often posts memes. After making the posts, a cryptocurrency known as Dogecoin, based around the image of a shiba inu meme, rose in value by around 5%. Musk previously has suggested Twitter accept Dogecoin in transactions.
Musk, 51, made his wealth initially on the finance website PayPal, then created the spacecraft company SpaceX and invested in the electric car company Tesla. In recent months, however, more attention has been focused on the chaos surrounding his $44 billion purchase of the microblogging site Twitter.
Meanwhile, the Ukrainian military’s use of Musk’s satellite internet service Starlink as it defends itself against Russia’s ongoing invasion has put Musk off and on at the center of the war.
Musk offered a wide-ranging 35-minute discussion that touched on the billionaire’s fears about artificial intelligence, the collapse of civilization and the possibility of space aliens. But questions about Twitter kept coming back up as Musk described both Tesla and SpaceX as able to function without his direct, day-to-day involvement.
“Twitter is still somewhat a startup in reverse,” he said. “There’s work required here to get Twitter to sort of a stable position and to really build the engine of software engineering.”
Musk also sought to portray his takeover of San Francisco-based Twitter as a cultural correction. Since taking over the company, he’s restored Donald Trump’s access to the platform after the then-president lost access to the website after a pro-Trump mob attacked the U.S. Capitol on Jan. 6, 2021. Musk also reinstated the accounts of several people who spread misinformation about the coronavirus, including that of Rep. Marjorie Taylor Greene, R-Ga.
“I think that the general idea is just to reflect the values of the people as opposed to imposing the values of essentially San Francisco and Berkeley, which are so somewhat of a niche ideology as compared to the rest of the world,” Musk said. “And, you know, Twitter was, I think, doing a little too much to impose a niche.”
Musk’s takeover at Twitter has seen mass firings and other cost-cutting measures. Musk, who is on the hook for about $1 billion in yearly interest payments for his purchase, has been trying to find way to maximize profits at the company.
However, some of Musk’s decisions have conflicted with the reasons that journalists, governments and others rely on Twitter as an information-sharing platform.
Musk on Wednesday described the need for users to rely on Twitter for trusted information from verified accounts. However, a confused rollout to a paid verified account system saw some impersonate famous companies, leading to a further withdrawal of needed advertising cash to the site.
“Twitter is certainly quite the rollercoaster,” Musk acknowledged.
Forbes estimates Musk’s wealth at just under $200 billion. The Forbes analysis ranks Musk as the second-wealthiest person on Earth, just behind French luxury brand magnate Bernard Arnault.
But Musk also has become a thought leader for some as well, albeit an oracle that is trying to get six hours of sleep a night despite the challenges at Twitter.
Musk described his children as being “programmed by Reddit and YouTube.” However, he criticized the Chinese-made social media app TikTok.
‘“TikTok has a lot of very high usage (but) I often hear people say, ‘Well, I spent two hours on TikTok, but I regret those two hours,’” Musk said. “We don’t want that to be the case with Twitter.”
TikTok, owned by Beijing-based ByteDance, did not immediately respond to a request for comment.
Musk warned that artificial intelligence should be regulated “very carefully,” describing it as akin to the promise of nuclear power but the danger of atomic bombs. He also cautioned against having a single civilization or “too much cooperation” on Earth, saying it could “collapse” a society that’s like a “tiny candle in a vast darkness.”
And when asked about the existence of aliens, Musk had a firm response.
“The crazy thing is, I’ve seen no evidence of alien technology or alien life whatsoever. And I think I’d know because of SpaceX,” he said. “I don’t think anybody knows more about space, you know, than me.”