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The holiday season is usually a wash when it comes to new music releases: the charts are dominated by the likes of Brenda Lee, Mariah Carey, Michael Bublé and Bing Crosby, and carols are dominating the radio on just about every channel. But this year has been different: while the top 10 of the Hot 100 has been full of the usual suspects, the Billboard 200 has been dominated by SZA’s S.O.S., the first album by the alt-R&B singer/songwriter in five years that roared out of the gate upon its Dec. 9 release with the fifth-biggest debut of 2022 and that has ruled the Billboard 200 for three straight weeks, bridging the gap between the holiday season and the opening of 2023. (And the Hot 100 found room for 20 songs from the album for good measure.)
The success of that release has been no accident. SZA’s fans have been patiently — or not so patiently — waiting for the follow up to her critically and culturally acclaimed 2017 album CTRL for years and, over the course of 2022, have been eating up each single that SZA has released, with “I Hate U,” “Shirt” and, lately, “Kill Bill” all seeing huge success not just at streaming but also at radio as the release date crept nearer. And the payoff was worth it: S.O.S. is now the first R&B album by a woman to spend three weeks at No. 1 on the Billboard 200 in a decade, since Beyoncé’s self-titled album accomplished that feat in 2013. And it helps make TDE president Terrence “Punch” Henderson Billboard’s Executive of the Week.
Here, Punch breaks down the rollout of the album, the way that both RCA and TDE helped build anticipation for the release and how the quality of SZA’s music helped push a hotly-anticipated album into commercially-successful and universally-acclaimed territory once again. “S.O.S. is what the fans have been waiting on and they’ve shown that. It’s been so much love and support since it dropped,” he says. “But it literally takes an army to make this whole thing work. It starts with SZA — she wrote and sang these songs with her whole heart and mind and soul and pain and life and her whole being. She put everything she had into it.”
This week, SZA’s S.O.S. spent its third week at No. 1 on the Billboard 200. What key decisions did you make to help make that happen?
The key decisions were picking the songs and literally putting them out. The people have been waiting for SZA’s next offering for a long time. It takes time to create quality art that will last and really stand the test of time. That’s what we aim to do every time. Once it got to a comfortable space, we put it out and the people responded.
It’s been more than five years since SZA’s last album. How did you roll this out differently, with how much things have changed in that time?
Everything is the rollout. Every time we drop a single we attach another record to it just to keep people engulfed in what’s to come next. That’s something we’ve been doing since 2014. Once we got the album concepts pretty much locked in, I wanted to start sending out some clues for the core fan base. So we loaded the “Shirt” visual with a bunch of bread crumbs hinting at what’s to come. Then the Morse Code thing to further the conversations surrounding the album. Mix that with the amazing promo videos that SZA shot, and it was a good recipe. Even the spats online. Though they be real — and a bit out of context [Laughs] — it’s still all about the conversation surrounding the album.
December is traditionally a tough month to release an album, given the holiday music that often dominates. How did you set this up before its release to help it cut through the holiday noise?
There was talk of possibly pushing to January for that very reason. But personally, I’m not scared of the holiday season at all. To me, if everyone is thinking the same thing about NOT dropping during the holidays, that just means it’s wide open. [Laughs] We dropped “Good Days” on Christmas! The main issue was radio during that time, but with streaming it’s different; you don’t have to wait on programming, etc. The furthest I would’ve pushed it to was Dec. 30th. And that’s because it was mentioned in Billboard that we were dropping in December. Once a date is said, I’m sticking to it.
“I Hate U,” “Shirt” and “Kill Bill” all succeeded on both streaming and on radio. What did you do to help those songs cut through?
Again, the main thing we can do is provide the music. It does what it does after that. The streaming team and radio team do a great job at pushing the records, but they need the records first.
How have you been able to keep the album’s momentum going through the New Year and keep it atop the charts?
Most of the work comes in the setup and it carries over from there. First, you have to have great records and then you have to know where you can get the records from. You have to know that the album is out. [RCA execs] Zay [Isiaih Bonds] and Tío Matty [Matt Bernal] have to be engaging the DSPs. Jordan [Blaugrund] has to have a sales strategy. Baby Sam [Selolwane], Keith [Rothschild], LG [Lori Giamela] and Inca [Kevin Valentini] have to be on the phones with radio people. Camille [Yorrick] need to be speaking to directors and producers to make sure we good to shoot visuals through the holiday season. Ashley [Monae] has to be on with photographers and videographers and BTS people to make sure the images are right for exclusives, etc. I know it’s a ton of people I’m missing who played a role in this, but all of these things and people were in place to deliver the record.
S.O.S. is the first R&B album by a woman to spend three weeks at No. 1 in a decade, since Beyoncé’s self-titled project in 2013. It also had the fifth-biggest debut week of all of 2022. What is it about her, and this project, that have made those stats a reality?
S.O.S. is what the fans have been waiting on and they’ve shown that. It’s been so much love and support since it dropped. But it literally takes an army to make this whole thing work. It starts with SZA — she wrote and sang these songs with her whole heart and mind and soul and pain and life and her whole being. She put everything she had into it. Then you have all of the producers involved laying the soundscape. You have MeLisa Heath on the management side of things making sure everything is streamlined and running how it’s supposed to run. The whole TDE staff and the whole RCA staff on the front lines. The executive branch with [RCA’s] Peter [Edge] and Fleck [John Fleckenstein], Top [Dawg] and myself. Miss Carolyn [Williams] overseeing everything. Theola [Borden] overseeing press and TV, etc. And the fans. It literally takes an army of people. It’s also a full circle moment being that Beyoncé was the first person of that caliber to reach out to SZA and have her come in to work. Now to be mentioned in the same breath as her is truly amazing.
Don Henley, Sheryl Crow, Sting and a slew of other musicians are throwing their support behind a new federal copyright rule aimed at making sure that songwriters who regain control of their music actually start getting paid their streaming royalties after they do so.
As first reported by Billboard in October, the U.S. Copyright Office wants to overturn a policy adopted by the Mechanical Licensing Collective (which collects streaming royalties) that critics fear might lead to a bizarre outcome: Even after a writer uses their so-called termination right to take back control of their songs, royalties may continue to flow in perpetuity to the old publishers that no longer own them.
In a letter Thursday organized by the Music Artists Coalition, more than 350 artists, songwriters, managers and music lawyers urged the Copyright Office to grant final approval for the proposed rule, warning that “music creators must not be deprived of the rights afforded to them by copyright law.”
“We stand together in support of USCO’s rule and believe that anything contrary would undermine the clear Congressional intent to allow songwriters, after an extended period of time, to reap the benefit of the songs they create,” the signatories wrote to the Copyright Office.
“It is simple, a songwriter who validly terminates a prior grant is the correct recipient of royalties,” the group wrote. “A publisher whose grant was terminated – and has received the benefit of the songwriter’s work for decades – is not the proper or intended recipient of these royalties.”
To fully understand the legal complexities of the Copyright Office’s proposed rule and what it might mean for songwriters, read this explainer.
Thursday’s letter, also signed by Bob Seger, Maren Morris, John Mayer, Dave Matthews, members of the Black Keys and others, came on the final day of the so-called “comment period,” in which outside groups could submit their opinion on the Copyright Office’s proposed rule.
The letter was the product of a call for signatures by the Irving Azoff-led Music Artists Coalition, which, along with other groups like Songwriters of North America, the Black Music Action Coalition and the Nashville Songwriters Association International, helped raise the alarm about the issue and spurred the Copyright Office to take action last year.
“Too often, music artists are quietly stripped of their rights,” Azoff said in a statement to Billboard announcing the letter. “But, today, the industry stood up to say ‘Not on our watch!’ We applaud the Copyright Office for its proposed rule. This rule should pass unamended and without delay.”
The Copyright Office introduced its new rule in October, saying the MLC’s policy had been based on an “erroneous” understanding of the law that created ambiguity about who should be receiving streaming royalties after a songwriter invokes their termination right and regains ownership of their music. Ordering MLC to “immediately repeal its policy in full,” the new proposal would make clear that when a songwriter takes back their music, they should obviously start getting the royalties, too.
In a message to members ahead of Thursday’s letter, MAC offered a plain-English explainer of the complex legal mechanics at play in the situation. The group urged its members to help end what it believed amounted to a loophole in the system created by 2018’s Music Modernization Act, warning that it could defeat the very purpose of both the new law and termination.
In an interview with Billboard, Susan Genco, co-president of The Azoff Company and a leader at MAC, said the group’s call to action – and the letter that came from it — was an example of how songwriters have become better mobilized after years of being “kept in the dark” on complicated policy matters that could have adverse effects.
“This is a big part of our role, to figure out which issues impact music creators the most, prioritize them, and then explain them to the community,” Genco said.
“We tried to paint a very clear picture for them,” added Jordan Bromley, a prominent music attorney and another key member of MAC, in the same interview. “Oh you think you’re getting your streaming mechanicals back through termination? Think again.”
In addition to advocating for the new rule, Thursday’s letter also came with something of a warning. The final sentence, separated into its own paragraph, read: “Any view opposing the USCO’s rule is a vote against songwriters.”
While not outright oppositional, the Copyright Office has received pushback on the proposed changes from the National Music Publishers’ Association. In a Dec. 1 submission, the group said it supported the overall goal of the new rule, but warned that the agency’s proposed approach “may have far-reaching and unintended consequences” and would likely lead to litigation in other spheres. Among other issues, the group said the rule must not apply retroactively.
“The breadth of the USCO’s legal reasoning in the [proposed rule] seems likely to increase legal uncertainty and questions,” the NMPA wrote. “This uncertainty will almost definitely raise the likelihood of litigation … including litigation concerning past payments made in accordance with what was then industry custom and practice.”
The NMPA instead advocated for “a consensus-based legislative solution” that would be passed by Congress, which it said could be narrower and more “carefully crafted” to avoid the problems the group has with the Copyright Office’s legal analysis.
In a statement to Billboard, NMPA president David Israelite stressed the industry group was aligned with songwriters on the ultimate policy goal.
“We strongly support songwriters receiving all mechanical royalties after a termination and have been working towards crafting legislation to ensure that outcome for years alongside the major songwriter groups,” Israelite said. “While not a concrete legislative remedy, our comments reflect our support for the Copyright Office’s proposed rule and offer ways to make that rule even more robust and less susceptible to legal challenges.”
The text of the Copyright Office’s proposed rule is available in its entirety on the agency’s website. The public comment period ended on Thursday, but all submitted comments will be made public on a public docket. The agency will review all comments and issue a final rule in the months ahead.
Read the entire letter sent to the Copyright Office on Thursday here:
For the first time ever, Billboard is introducing a peer-voted award to its annual Power 100 ranking of the music industry’s most influential executives. This new Power Players’ Choice Award will honor the executive whose peers believe has the most impact across the music business over the past year, from recording and publishing to touring.
Voting is open to all Billboard Pro members, both existing and new, with one vote per member.
The first round of voting is now open and will run through Jan. 10 with an open call for nominees. Vote below.
The second round of voting will begin Jan. 11, in order to narrow down the top 20 nominees into the final five top executives.
The third round of voting will begin Jan. 13, to select the winner from that list. Voting concludes Jan. 17.
Sophie Jones was promoted from director of public affairs to chief strategy officer at BPI; she will also serve as interim chief executive until a permanent appointment is made following the recent exit of Geoff Taylor. Coinciding with Jones’ elevation, the communications, independent member services and research & insight department heads will now report directly to Jones alongside the public affairs team.
The Orchard promoted Mary Ashley Johnson to executive vp of sales and artist & label management, U.S. and Canada. The company also named Katie Studley as vp, Nashville. Johnson will continue driving revenue and market share for The Orchard while managing teams responsible for client relationships and high-level strategy on key releases across the U.S. and Canada. Studley will oversee the Nashville office’s day-to-day operations while developing new business relationships and further expanding The Orchard’s presence in Nashville. Based in New York and Nashville, respectively, Johnson and Studley report to COO Colleen Theis.
Longtime senior executive, editor and music historian Jay Orr retired from the Country Music Hall of Fame and Museum after more than 26 years. He most recently served as executive senior director for research, editorial and content; he also led the museum’s editorial team, overseeing the development of exhibits, publications and more. Orr can now be reached at jayorr@comcast.net.
Web3 company Yuga Labs (Bored Ape Yacht Club, CryptoPunks, Meebits) appointed Daniel Alegre as CEO, effective the first half of 2023. He succeeds Nicole Muniz, who will stay on as a partner and strategic advisor to the company. Alegre will work closely with Yuga Labs founders Wylie Aronow and Greg Solano to continue growing the business. Alegre most recently served as president and COO of Activision Blizzard.
Roy Hennis was promoted to senior vp of sales and Nik McLeod was named vp of publishing at LyricFind. Hennis will continue to lead his team in LyricFind’s core markets as well as emerging products including Lyric Videos and LyricIQ, while McLeod will oversee the publishing department’s international licensing efforts in key territories and markets.
The Copyright Alliance announced two at-large board members whose terms commenced on Sunday (Jan. 1): Todd Dupler of The Recording Academy, who will serve on the board for a second consecutive term, and Jeff Sedlik of American Photographic Artists. Both will serve two-year terms at the organization.
Kevin Hart‘s multi-platform media company Hartbeat hired Sara Abdulahi as senior vp of people & culture, Annie Ballot as senior vp of global media, Neil Wright as vp of live & experiential and Namon Jones as vp of brand partnerships. The company also promoted Tina Maher to senior vp of brand & franchise management. Abdulahi, who comes from ATTN:, will oversee talent management, compensation and benefits, training and development and employee relations; Balagot, who comes from NBCUniversal, will oversee strategy and distribution of Hartbeat media, including expanding distribution for LOL! Network across all platforms; Wright, who comes from Complex Networks, will oversee live events and experiences; Jones, who arrives with more than 20 years of experience running digital sales, will develop and expand on Hartbeat’s East Coast brand partnerships; and Maher, who joined the company in 2017, will oversee and execute monetization, growth and partnerships strategies for Hartbeat’s owned and operated brands and franchises.
Deezer appointed Ingrid Bojner (Storytel) and Mark Simonian (retired chairman of global TMT investment banking at Credit Suisse) as independent board directors. They were co-opted by the board to replace Alban Gréget and Jeronimo Folgueira, who resigned from their director positions last month. Folgueira will continue as Deezer CEO and work closely with the board of directors on all relevant business matters. Bojner and Simonian’s mandates will extend through the remaining term of their predecessors — or until the annual general meeting is called to approve the financial statements for the fiscal year ending Dec. 31, 2024, and the fiscal year ending Dec. 31, 2023, respectively.
Artist and music management company UROK hired Tayla Dhyll as head of audience, a newly created role, and Sophie Lane as senior artist manager. Dhyll will be tasked with developing, implementing and managing digital strategies for artists, while Lanez will work on two of UROK’s new management signings. The company also promoted Chris Kasa to senior vp of artist management, making him responsible for new signings and managing the careers of Jade Bird, Lucky Kilmartin and Jo Hill; Afoma Ojukwu to artist relations manager; Steve Sasse to artist and repertoire director across records, publishing and producer management for the entire UROK roster; and Annabelle Scott-Curry to creative director on a consultancy basis, working alongside UROK on Plan B and Jess Glynne.
Beasley Media Group hired Ariana Sheehan as director of digital content strategy. Based in Albany, New York, Sheehan will work closely with vp of digital content Erika Beasley and vp of digital marketing Jennifer Williams to help drive the company’s digital content strategy and grow its audience. She joins from product review and marketing company BestReviews.
Walter F. Ulloa, the Latin media veteran who founded Entravision Communications, died unexpectedly of a heart attack over the New Year’s holiday weekend, his company announced. He was 74 years old.
At the time of his death, Ulloa was the chairman and chief executive of Entravision, a global digital marketing and media company that boasts more than 4,500 technology and consumer brand clients, according to Ulloa’s LinkedIn page. He co-founded the company with Philip Wilkinson in 1996.
In the U.S., Entravision is known mainly for its robust media offering, which includes 55 television stations, making it the largest independent broadcaster of Univision-affiliated stations in the country, and 47 radio stations, most of them Spanish-language.
Ulloa, who was Mexican-American, grew up in California and graduated from USC. He later attended Loyola Law School. He started his career in media at KMEX-TV, Univision’s flagship television station in Los Angeles, where he worked multiple jobs, from production manager to news director to CEO, before launching Entravision.
Especially at a time when Spanish-language media was not in the hands of Latinos, Ulloa was a trailblazer who saw early on the possibilities in the field and recognized the power of Latin ownership.
“Walter Ulloa was a visionary businessman who took a Spanish-language TV station and built it into a global enterprise,” posted congressman Chuy García (D-IL) on Twitter. “His commitment to empowering the Latino community was his guiding star and his passion. My thoughts are with his family and the many friends he leaves behind.”
Walter Ulloa was a visionary businessman who took a Spanish-language TV station and built it into a global enterprise. His commitment to empowering the Latino community was his guiding star and his passion. My thoughts are with his family and the many friends he leaves behind. https://t.co/tANjo6Li73— Congressman Chuy García (@RepChuyGarcia) January 4, 2023
After earning his first Latin Grammy nomination for his work on Rauw Alejandro’s Trap Cake, Vol. 2, YENSANJUAN (real name: Roberto Rivera Elias) signed a global publishing deal with Rimas Publishing. In addition to Alejandro, the emerging Puerto Rican songwriter, who says he’s “living one of the most exciting moments of my career,” has worked with artists such as Sebastian Yatra and Feid. He joins Rimas’ star-studded roster, which includes Bad Bunny, Eladio Carrión, Mora, Súbelo NEO and Tempo.
Variety show host, singer, songwriter and entrepreneur Pat Boone has reorganized his 2,300-song catalog, which consists of both his own works and others he acquired over the years from other talents. As a songwriter, Boone penned the lyrics to “The Exodus Song (This Land Is Mine)” and a number of film scores, but his catalog also contains compositions and recordings he purchased from others along the way, including cuts from David Gates, Leon Russell, Ralph Carmichael, Paul Smith, Donn Thomas, Jimmy & Carol Owens, Roger Dollarhide and Mort Lindsey, as well as masters from Boone’s Gold Label by legacy artists such as Jack Jones, Sha Na Na and Toni Tennille. Boone’s catalog, which is held under the self-owned companies Spoone Music and Cooga Music, will team up with Honolulu-based Craft Brewz Music, a creative agency specializing in catalog data collection and film/TV licensing. Spoone also has partnerships with Sweet on Top, a company that’s subpublished by peermusic, to pitch Boone’s catalog for placements.
Lickd, a music licensing platform for content creators, has partnered with Warner Chappell Music. Under the deal, which expands upon the partnership Lickd has already forged with the publisher’s parent company, Warner Music Group, Lickd will provide YouTube creators full, precleared access to use WCM’s music catalog in their video content.
Sony Music Publishing is currently holding its first-ever West Africa songwriting camp in Accra, Ghana, Jan. 5-12, 2023. Organized by Wale Davies, the company’s head of A&R, Africa, the camp will encompass a week’s worth of sessions, wellness activities and community outreach workshops to further the development of the next generation of songwriters in the region.
Sony Music Publishing U.K. has signed rising artist Naomi Kimpenu to a global publishing agreement. Awarded the Rising Star honor at the 2022 Ivor Novello Awards for her songwriting skills, the newcomer is already gaining the attention of Jack Saunders and Sian Eleri of BBC Radio 1.
Concord Music Publishing and Stax Records collaborated to host a songwriter workshop at Stax Music Academy in Memphis. The two companies have collaborated for the last three years on other songwriting workshops, but this is the first time they’ve been able to host the classes in person. Young students got instruction from hit-makers like songwriter Varren Wade, founding Soulsville president/CEO Deanie Parker, Concord senior vp of A&R Jeremy Yohai and Concord senior manager of A&R Matthew Megan.
For the first time ever, Billboard is introducing a peer-voted award to its annual Power 100 ranking of the music industry’s most influential executives. This new Power Player’s Choice Award will honor the executive whose peers believe has the most impact across the music business over the past year, from recording and publishing to touring.
Voting will be open to all Billboard Pro members, both existing and new, with one vote per member.
The first round of voting will begin Jan. 6, with an open call for nominees.
The second round of voting will begin Jan. 11, in order to narrow down the top 20 nominees into the final five top executives.
The third round of voting will begin Jan. 13, to select the winner from that list.
Voting will close Jan. 17.
If you are not yet a member of Billboard Pro, you can join here.
The man accused of murdering Migos rapper Takeoff was released from a Houston jail late Wednesday (Jan. 4) after posting a $1 million bond, court records show.
According to filings in Harris County court and from the Harris County Sheriff’s Office obtained by Billboard, Patrick Xavier Clark posted bond on Wednesday and was released at 8:47 p.m. local time. He’s due back in court for a hearing on March 9.
Bond had initially been set at $2 million, but Clark’s lawyers argued that that figure was excessive and potentially unconstitutional — essentially a backdoor to simply denying bond altogether. After they demanded the figure be lowered to $100,000, the judge agreed to reduce it to $1 million on Dec. 14.
Court records show Clark will still be under 24/7 hour arrest, cannot have any contact with anyone involved, and will be required to wear a GPS monitor that can immediately notify prosecutors and defense attorneys of any violations. He must also submit to drug testing and cannot drink alcohol, as court records indicate that “alcohol was a factor in the offense.”
A representative for the late star did not immediately return a request for comment on Clark’s release. Clark’s lawyer also did not respond to a request for comment.
Takeoff (born Kirshnik Khari Ball), 28, was shot and killed Nov. 1 during a private party he attended at 810 Billiards & Bowling in downtown Houston with his uncle and bandmate, Quavo. The musician was killed by “penetrating gunshot wounds of head and torso into arm,” according to a report from the Harris County coroner’s office. Clark, 33, was arrested on the east side of Houston on Nov. 1 and charged with murder; another man, 22-year-old Cameron Joshua, was arrested and charged with the unlawful carrying of a weapon.
Sony Music has reached a settlement to end a lawsuit that claimed the name of Future’s chart-topping album High Off Life infringed the trademark rights of a creative agency that uses that exact same name.
High Off Life LLC sued Sony in 2020, alleging the label had “destroyed” the smaller company’s brand by using the name for the title of Future’s eight studio album. Though Sony argued an album name was protected by the First Amendment, a federal judge refused to dismiss the case last year.
But in a motion filed Tuesday, both sides agreed to end the case. The terms of the settlement, like whether any money exchanged hands or any names would be changed, were not publicly disclosed. Attorneys for both sides did not return requests for comment.
High Off Life reached the top spot on the Billboard 200 in May 2020. It was originally set to be titled “Life Is Good” – the name of the album’s third single – but the name was switched at the last minute as the COVID-19 pandemic swept made life somewhat less than good.
That was a problem for High Off Life LLC, which filed a trademark infringement lawsuit in October 2020 against Sony and Future’s Freebandz Productions. The company claimed it had been selling “High Off Life” apparel since 2009, had launched a creative agency under the name in 2017, and operates a hip-hop YouTube channel called “High Off Life TV.”
The case claimed that Sony’s promotion of Future’s album had buried the smaller company in search results: “Overnight, Defendants destroyed HOL’s investment of many years and many thousands of dollars into building consumer recognition.”
To beat the lawsuit, Sony and Freebandz cited something called the Rogers test — a legal doctrine that makes it very difficult to win lawsuits over the use of brand names in “expressive works” music. The rule says that authors have a First Amendment right to use trademarks in their work unless it explicitly misleads consumers, or is completely irrelevant to the artwork.
That argument might have prevailed eventually, but U.S. District Judge Scott Hardy ruled in April that it was too early to make that call. The decision allowed the case to proceed into discovery, where both sides to gather evidence and build their cases.
Amazon is set to lay off more than 18,000 workers, CEO Andy Jassy said in a note to employees Wednesday.
The majority of the cuts will impact staffers in the Amazon Stores and People Experience and Technology divisions, the latter of which includes teams involved in Human Resources. Impacted employees will be contacted beginning Jan. 18, though the company had already begun laying off staff in November across its devices and books businesses, which include products like Alexa, Fire TV and Kindle.
The 18,000 figure — which represents roughly 1.2 percent of Amazon’s 1.5 million global workforce, as of last September — is larger than the latest reported layoff figures at the e-commerce giant; in November, timed to the earlier round of cuts, the company was expected to cut around 10,000 roles.
“This year’s review has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years,” Jassy said in his note, which was shared publicly Wednesday evening after the Wall Street Journal first reported the updated figures. “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so. These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I’m also optimistic that we’ll be inventive, resourceful, and scrappy in this time when we’re not hiring expansively and eliminating some roles.”
Amazon most recently reported an earnings miss for the third quarter, with net income falling from $3.1 billion to $2.9 billion year over year. The company has continued its big spending in entertainment with deals for the NFL’s Thursday Night Football, which is commanding a $1 billion yearly spend for the streaming rights, and the $465 million price tag for the first season of Lord of the Rings: The Rings of Power. Last year, Amazon also closed its costly $8.5 billion acquisition of the MGM studio.
But the tech and e-commerce behemoth is not alone in facing the negative impacts of an ongoing downturn. In November, Meta said it would lay off 11,000 staffers, or roughly 13 percent of its workforce. Earlier Wednesday, Vimeo and Salesforce announced layoffs ranging in the 10 to 11 percent range, respectively.
This article was originally published by The Hollywood Reporter.