Business
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Gracie Abrams, Thomas Rhett, Aaron Dessner and Leon Bridges are performing at this year’s National Music Publishers’ Association annual meeting on Wednesday (June 11) at Lincoln Center’s Alice Tully Hall. The event, which acts as a state-of-the-union for music publishers, has continued to integrate more songwriters into the event in recent years to honor the talents that publishers serve every day.
Abrams and Dessner are part of a special segment of the meeting, dedicated to the Billboard Songwriters Awards, a collaboration between Billboard and the NMPA which was rescheduled from GRAMMY week due to the Los Angeles wildfires. Abrams is set to receive the Breakthrough Songwriter Award to account for her fast-growing career as an artist, and Dessner will be given Billboard‘s Triple Threat Award for his success as a songwriter, producer and musician. Though to pop fans Dessner might be best known for his work producing and writing with Taylor Swift, Bon Iver, Ed Sheeran and Abrams, he is also lauded in the indie rock space as a longtime member of the band The National. Both are set to perform.
Additionally, the NMPA is giving out awards of its own. It’s Non-Performing Songwriter Award this year is going to Rhett Akins, and as part of that honor, his son, Thomas Rhett, will perform a medley of his father’s vast country catalog, which includes songs like “Dirt On My Boots” by Jon Pardi, “Honeybee” by Blake Shelton, “I Don’t Want This Night To End” by Luke Bryan, “Small Town Boy” by Dustin Lynch, “Look What God Gave Her” by Rhett, and many more.
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The NMPA’s Songwriter Icon this year is Kacey Musgraves, and Bridges is flying in to pay tribute to Musgraves by performing a rendition of two of her songs.
The NMPA Annual Meeting, which is attended by a who’s who of the music publishing business, will also feature a keynote conversation with Oliver Schusser from Apple Music, and an address from the organization’s CEO/president David Israelite this year. Typically, Israelite’s speech includes a major announcement about new action the NMPA is taking to protect publishers and their writers. Last year, Israelite took on Spotify for cutting payments to publishers by about 40% that year through a multi-faceted attack plan, which is still on-going. He has also used the stage to announce lawsuits against Roblox, Twitter and more for using publishers’ copyrights without a license in previous years.
In 2024, the NMPA gave the Songwriter Icon award to Lana Del Rey and the Non-Performing Songwriter Icon award to Savan Kotecha, who has written hits like “Azizam” by Ed Sheeran, “God Is A Woman,” “Break Free” and “Break Up With Your Girlfriend, I’m Bored” by Ariana Grande, “I Can’t Feel My Face” by The Weeknd, “What Makes You Beautiful” by One Direction and more.
In a stylish, cozy office in the Echo Park neighborhood of Los Angeles, a dozen or so Ninja Tune employees sit around a conference table, everyone locked in on their laptops.
There’s a quiet hum of productivity as staffers work on the daily tasks that add up to the label’s prolific output — work that has helped define and expand electronic and indie music culture since Ninja Tune’s creation 35 years ago.
Founded in London by Matt Black and Jonathan More, who together made music as Coldcut, Ninja Tune now employs a staff of roughly 100 that primarily works in London and L.A. Given that geographic reach, Marie Clausen, Ninja Tune’s managing director of North America since 2022, calls 7:30 a.m. PT — which is 3:30 p.m. in London — the hallowed “golden hour” of each day.
“That’s the time for us to connect,” Clausen says while sitting in the office’s upstairs lounge area, where the walls are hung with album covers from Bonobo, Thundercat, Bicep, ODESZA and many of the other acts who’ve helped define the label’s roster and creative ethos since 1990.
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Originally from northern Germany, Clausen cut her teeth in the Berlin rave scene before eventually relocating to L.A. She now oversees an operation that includes the label, publishing company Just Isn’t Music and Ninja Tune Production Music, a library of stock music whose year-over-year revenue recently rose by 20%.
These latter two entities help subsidize the still fully independent Ninja Tune label. Recent synchs include music by the rising Brooklyn electronic outfit Fcukers featured in an Apple Keynote presentation; label artists TSHA, Logic1000, Machinedrum and many more having their music placed in projects spanning video games, film and TV; and a recent contract that secured the largest individual synch deal in the company’s history. While the track and brand are confidential, the campaign generated over $1 million — highlighting, Clausen says, “the scale and potential of our synch business.”
Ninja Tune also encompasses a collection of sublabels and partners including Flying Lotus’ influential Brainfeeder imprint, ODESZA’s Foreign Family Collective, Counter Records and Big Dada, with the team thus altogether touching a wide swath of artists and genres.
“Music and culture are the fires that keep us all going,” Clausen says. “That’s the real essence; that’s the texture; that’s what sticks, and then you build the business around it to amplify it.”
As Ninja Tune marks its 35th anniversary, Clausen reflects on the label’s recent successes, competing with the majors and more.
What are some of Ninja Tune’s biggest successes from the last few years?
One of the biggest milestones is continuing to work with team ODESZA on everything we’ve achieved over the years. I started working with them about 10 years ago, and obviously, we landed a No. 3 Billboard 200 album [with A Moment Apart in 2017]. Last year, they sold out three Madison Square Garden shows, which was an amazing milestone for them. Then we had several Grammy Award [nominations] and several gold and platinum records. [In 2021], we also brought their label, Foreign Family Collective, into Ninja Tune. That whole relationship just continues to be really strong, and it’s an amazing team. They’re very ambitious, very forward-thinking and very fan-first.
Then during COVID, we released Thundercat’s It Is What It Is album on Brainfeeder. That was another massive milestone. The record came out in April 2020 during the height of COVID, and we had to pivot many, many times throughout the campaign. He’s an incredible artist to work with — very, very talented. Ultimately, it also led to a lot of great chart success and a [best progressive R&B album] Grammy win for Thundercat.
What about on the broader business side?
Over the last couple of years, we’ve seen continued growth across the business, specifically in streaming. We went from the streaming revolution to the social media revolution, and now we head on into AI [artificial intelligence]. With Ninja Tune, we’re always trying to face this with a really open mind and keep an eye on where consumption is going and lead the business into that.
How does this approach extend the ethos of the label’s earlier days?
Back in the day, Matt Black and Jonathan More already had a very innovative, forward-thinking approach. They played with CD-ROMs, they had video mashups. They did something called Pirate TV, which is like what Instagram Live is now. It’s ingrained in the DNA of the company to really lean into new technologies and innovation.
Marie Clausen
Sarah Golonka
Tell me about the current state of your roster.
We have a very stylistic, diverse roster. We already talked about ODESZA and Thundercat, who are incredible and who we continue to work with. Black Country, New Road just released a new album called Forever Howlong that reached top three in the U.K. and sold [11,000] physical copies in the U.S. in its first week alone, after we set up over 150 listening parties and had a very bespoke campaign and an artist who really leaned in.
Then there’s Barry Can’t Swim. He’s amazing. He’s releasing his sophomore album, Loner, this summer, and his career has exploded since he launched his artist career three years ago. He had record attendance at Glastonbury last year and already received a Mercury Prize and a BRIT Award nomination. Here in Los Angeles, in April of last year, he played the El Rey, which is just under 1,000 capacity. Then last weekend, he sold out two shows at the Shrine with a combined 10,000 capacity.
It’s a wonderful team to work with, really forward-thinking, and the sound is incredibly warm and also very clubby and really sticks. There’s also amazing art that goes with it, and he’s an artist that has a fantastic sense of humor and keeps it fresh.
An artist like Barry Can’t Swim could presumably sign with a lot of different labels. What brings him to Ninja Tune?
We have a very ambitious team that, if they get a no, [they] turn it into a yes. We’re really dedicatedto building artist careers. We also handle every campaign and every artist we work with [gets] a very bespoke, white-glove treatment.
Someone like Barry is receiving full attention from the team. We have several offices across the world. There are just under 100 worldwide Ninja Tune employees. We are experts in physical and digital marketing. We know how to run e-commerce. We are really good at [customer relationship management] strategies.
We also know how to market toward different niches and then bring [those niches] into the mainstream. That’s one of the areas we’ve been successful in over the last couple of years.
Whether you look at Maribou State or some of the other artists we work with, it’s not necessarily music you would say is made for the mainstream, but [we can help guide] its way into the mainstream. Having that sort of superpower to know how to drive that forward and drive artist careers is one of our strongest selling points.
Your artist nimino had a big moment last year when his track “I Only Smoke When I Drink” went viral. As a label, how do you capitalize on that virality and harness it into something long-lasting?
We were really able to break him in the sense that when his single started going viral on TikTok, nobody really knew of him yet. We worked very closely with his management team and really leaned in on all the different aspects of the marketing campaign and were very ambitious in all areas.
[The result] has been just incredible to see. He played Coachella this year. His profile on Spotify went from roughly 500,000 monthly plays to 5 million within something like 50 days. It was really fun to work with a moment like that and then lean in and drive it forward.
What competitive advantage does being independent give you?
We’re quick to adapt. In some ways, we’re like the mailman; we are delivering one record after the next, but technology is changing so fast that we need to continue to rethink all the time. We have this very fresh, innovative mindset, and that allows us to pivot really quickly.
Do you feel you’re competing with the majors?
One hundred percent we are competing with the majors. It’s not our goal to compete with the majors. Our goal is to just be the best service to our artists and drive the company forward, but obviously, if you’re working at the forefront of the market, then you are competing. There are always majors around that are equally trying to sign our records, but that’s great. It keeps us on our toes, and it means we can deliver really good results. We’re challenged by that and that’s wonderful.
What are the keys to building a strong team?
It sounds cheesy, but I feel very blessed to work with the team that I do. I find that I’m learning a lot from everyone all the time, especially the younger generations, because they have such different views. The key is nurturing really talented people. We have some [employees] that were coming out of college that now have thriving careers. We’re empowering them, and there’s so much we can learn from them.
It’s also about being fluid while also offering structure. To increase our productivity, we set a rule that meetings are ideally not longer than 15 minutes. We call those micro meetings, and it really has changed the way we work. It helps everyone to really stay on track while we are also supporting hybrid work and all the different things it takes to work together in 2025.
In 2025, is there one thing that’s moving the needle for artists more than any other?
Obviously, we are working in an environment that’s very oversaturated. We see a massive amount of content. One challenge we have is the stickiness of content because there’s so much that’s competing.
One of the main things we see that works really well is to have a proper superfan strategy and to make sure that every time a music lover comes across your music one way or the other, whether it’s via TikTok or a streaming platform, Bandcamp, whatever it is, there is a strategy to get that fan or potential fan into your funnel.
Then it’s being very original with your art and your creativity and being easily identifiable for what you stand for and giving the fan a reason to fall in love with you and put your poster up on the wall. From that superfan strategy, the key points are to then look at [having] great social media, great live shows and great art that ideally is non AI-able.
This story originally appeared in the June 7 issue of Billboard magazine.
Exceleration Music has announced an agreement to acquire Cooking Vinyl, a key independent music company in the U.K. market (Jun. 9).
The move is the latest by Exceleration, lead by former Concorde CEO Glen Barros alongside influential executives John Burk, Amy Dietz, Charles Caldas and Dave Hansen, to consolidate its standing in the independent music space, offering distribution, investment and label support services.
In 2023, Exceleration also acquired distribution company Redeye Worldwide, joining existing labels such as +1 Records, Alligator, Azadi, Bloodshot, Candid, Kill Rock Stars, Mom+Pop, Redeye Worldwide, SideOneDummy, The Ray Charles Foundation/Tangerine Records and Yep Roc Records in Exceleration’s portfolio.
Cooking Vinyl originated in 1993 with its signing of folk troubadour and activist Billy Bragg, and over its 32-year history, has worked with acts such as Shed Seven, Suzanne Vega, Passenger, The Prodigy, The Cranberries, The Darkness, Deacon Blue, 47 Soul, Roger Waters and The Jesus and Mary Chain.
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In 2024, Cooking Vinyl enjoyed a pair of No. 1 albums with two separate LPs by Shed Seven hitting the top spot on the U.K.’s Official Albums Chart: January’s A Matter of Time and September’s Liquid Gold. In February 2025, The Darkness hit No. 2 with Dreams on Toast.
A press release adds that Cooking Vinyl will operate independently and continue to be led by managing director Rob Collins, with founder Martin Goldschmidt remaining in his position as chairman. Cooking Vinyl Publishing UK, Cooking Vinyl Publishing Australia and Motus Music, the statement continues, are not included within the acquisition.
“At Cooking Vinyl, we’ve worked tirelessly to help our artists achieve both artistic and commercial success — without ever compromising their uniqueness or creative control. This deal enhances that mission,” says Collins in a statement.
“Our artists will still benefit from our close-knit, highly personalised team that combines deep industry expertise with old-fashioned hard graft. But now, with the expanded U.S. capabilities, enhanced resources, and the broader global reach of the Exceleration structure, we’re able to offer even stronger support to our current and future roster. I look forward to working with their team to spearhead this next phase for Cooking Vinyl!”
Sony Music Publishing has acquired Hipgnosis Songs Group, multiple sources confirmed to Billboard. Emails obtained by Billboard under the subject line “Update from Sony Music Publishing” said that the company “has entered into an agreement with Recognition Music Group (‘RMG’) to acquire its subsidiary Hipgnosis Songs Group (‘HSG’), effective immediately.”
Hipgnosis Songs Group is one of the companies considered to be under the umbrella of Recognition Music, formerly known as Hipgnosis — which also included Hipgnosis Songs Fund and Hipgnosis Song Management — and is the subsidiary that has housed Big Deal Music and its administration business since the company acquired Big Deal in 2020.
The HSG catalog includes the 4,400 copyrights originally from Big Deal, including songs recorded by Shawn Mendes, Panic! At the Disco and One Direction. According to HSG’s Instagram page, their repertoire also includes publishing shares of songs like “Taste,” “Espresso” and “Feather” by Sabrina Carpenter; “Ordinary” by Alex Warren; “Lose Control” by Teddy Swims; and many more current hits.
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“With this agreement, Sony Music Publishing now owns and administers the Hipgnosis Songs Group catalog, serving as the full-service publisher for its clients and roster of songwriters globally,” the email to HSG songwriters, composers and clients reads.
The news of this deal arrives just three months after Hipgnosis rebranded under the new name Recognition Music Group, bringing the bundle of related Hipgnosis titles under one name and one roof. As part of that previous news, it was noted that Hipgnosis Songs Group was still under the ownership of Blackstone and that the company said the division was under strategic review. Billboard reported that Recognition was looking to partner with publishers and music companies for the administration of their assets.
Over the years, Hipgnosis has largely driven the movement to treat music as an attractive asset class for Wall Street investors, bidding sky-high prices for catalogs by Red Hot Chili Peppers, Neil Young, Lindsey Buckingham, Blondie, Justin Bieber and Journey, among others. But Hipgnosis Songs Fund, which was publicly traded on the London Stock Exchange since 2018, has had a rocky last few years. By 2023, HSF ultimately left its investors frustrated as its stock price fell and its dividend was cancelled. Eventually, in July 2024, HSF was sold to private equity giant Blackstone for $1.6 billion.
A rep for Recognition Music declined to comment. Reps for Sony Music Publishing did not immediately respond to Billboard’s requests for comment at press time.
The email notes that “over the next few months, we will be transitioning the company to SMP’s services and systems. We are working closely with HSG to ensure that all clients will receive the high level of service that you have come to expect.”
By acquiring hits owned or administered by HSG, Sony Music Publishing — which often ranks as the largest publisher by market share on the Hot 100 and Pop Radio Airplay charts on Billboard’s Publishers Quarterly — has become an even more dominant player in popular music.
Read an excerpt of the email below:
Dear Hipgnosis Songs Group Songwriters, Composers and Clients:
On behalf of Sony Music Publishing (“SMP”), we are pleased to inform you that Sony Music Publishing has entered into an agreement with Recognition Music Group (“RMG”) to acquire its subsidiary Hipgnosis Songs Group (“HSG”), effective immediately.
With this agreement, Sony Music Publishing now owns and administers the Hipgnosis Songs Group catalog, serving as the full-service publisher for its clients and roster of songwriters globally.
With a unique roster of contemporary songwriters and timeless classics, HSG aligns with SMP’s mission to elevate and support the work of the world’s most impactful songwriters, and we are honored to represent you and your songs.
Over the next few months, we will be transitioning the company to SMP’s services and systems. We are working closely with HSG to ensure that all clients will receive the high level of service that you have come to expect. No further action is required from you at this time.
In the meantime, your current HSG team remains available to address questions or creative inquiries. You can also reach HSG at HSGcreativeteam@hipgnosissongs.com. For the time being, your royalty payments will continue to be processed and distributed through HSG’s system and your current account access remains unchanged. We will reach out to you directly with important transition updates as they come.
Thank you. We look forward to working with you in this next chapter.
Sincerely,
The Sony Music Publishing Team
As the SXSW festival made its London debut this week, a group of top music industry leaders convened for an intimate dinner hosted by Luminate — the data and insights company that powers the Billboard charts — and Music Business Worldwide. The mix of music company CEOs and entrepreneurs — many of whom had just […]
Sony claims in a new lawsuit that streaming platform LiveOne and its subsidiary Slacker Radio owe $2.6 million in unpaid licensing fees yet are refusing to stop playing the label’s music, including tracks by Beyoncé, Miley Cyrus and Tate McRae.
The allegations come in a federal lawsuit Sony filed Friday (June 6) against LiveOne and Slacker, which LiveOne acquired in 2017 and has since folded into the LiveOne streaming app.
Sony and Slacker have been doing business with each other since 2007 through a content distribution deal, according to the lawsuit. But Sony’s lawyers say LiveOne and Slacker stopped making regular monthly licensing payments in August 2024 and now owe a total outstanding balance of $2.6 million.
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“In the past several months alone, Slacker claims to have seen increasing commercial success, touting a surge in usage of the LiveOne app and a year-over-year surge in content views,” write Sony’s attorneys. “Despite this self-proclaimed growth, Slacker—true to its name—has failed to make license payments to Sony Music as and when required under the agreement, and its parent, LiveOne, has likewise failed to live up to its guarantee.”
According to the lawsuit, Sony notified LiveOne and Slacker in March that it was terminating the content distribution deal in light of this contract breach. Sony says it “expressly informed” them that further use of its music would constitute copyright infringement, according to the lawsuit.
But Sony’s lawyers claim the LiveOne app is still streaming more than 200 of the label’s songs — also including tracks by Doja Cat, Harry Styles, Justin Timberlake and Khalid.
“Slacker’s conduct has caused and continues to cause substantial and irreparable harm to Sony Music and its artists, while enriching defendants at the expense of Sony Music and its artists,” write Sony’s lawyers. “By this lawsuit, Sony Music seeks damages for Slacker and LiveOne’s breach of the agreement and for defendants’ willful infringement of Sony Music’s copyrights since the March 15, 2025, termination of the agreement.”
Representatives for Slacker did not immediately return Billboard’s request for comment on the claims.
The lawsuit comes three years after Slacker and LiveOne faced a different lawsuit over unpaid fees from SoundExchange, the nonprofit that collects and distributes royalties to record labels and artists. A federal judge ultimately ordered the streaming companies to pay SoundExchange nearly $10 million in past-due royalties.
Spotify’s share price surpassed $700 for the first time this week and reached a new all-time high of $717.87 on Thursday (June 5). The Swedish-based, New York-listed company ended the week up 6.9% to $712.26.
Through Friday (June 6), Spotify’s share price has increased 52.6% year to date, and its market capitalization has gained $54 billion to $145.8 billion. In an up-and-down year for most stocks, Spotify has rewarded investors with consistent subscriber growth and improved margins resulting from layoffs in 2023. The company finished the first quarter with 268 million subscribers, up 12% year over year, and total revenue of $4.54 billion was up 15%.
Spotify wasn’t the biggest gainer of the week, but its immense size was a major factor behind the 4.6% gain by the 20-company Billboard Global Music Index (BGMI) for the week ended June 6. The BGMI has gone nine consecutive weeks without a decline after a two-week decline in late March and early April. Behind 14 gainers and only six losers, the index reached a new high of 2,928.46 and brought its year-to-date gain to 37.8%.
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Markets finished the week strong after a U.S. jobs report on Friday showed that unemployment remained steady amidst the uncertainty caused by U.S. trade policy. The Nasdaq composite was up 2.2% while the S&P 500 rose 1.5%. South Korea’s KOSPI composite index gained 4.2%. China’s SSE Composite Index improved 1.1% and the U.K.’s FTSE 100 gained 0.7%.
Music streaming stocks performed especially well this week. LiveOne was the biggest gainer after rising 16.2% to $0.86. Tencent Music Entertainment jumped 6.8% to $17.96 and is trading at its highest mark since 2021. Netease Cloud Music rose 3.6% to 218.80 HKD ($27.88). Deezer and Anghami were exceptions, falling 1.5% and 5.3%, respectively.
Live Nation was the best-performing live music stock after gaining 5.0% to $144.15. Bernstein initiated coverage of Live Nation this week with an “outperform” rating and a $185 price target. MSG Entertainment rose 1.8% to $37.77, and CTS Eventim was up 0.5% to 107.20 euros ($122.26). Sphere Entertainment Co. fell 0.3% to $37.67, bringing its year-to-date loss to 11.3%.
iHeartMedia gained 14.5% to $1.50. The stock rose 10% on Thursday as the company announced the appointment of deputy CFO Michael McGuinness as iHeartMedia’s principal accounting officer. Previous principal accounting officer Scott Hamilton transitioned to a consultant role for the company.
Believe rose 11.6% to 17.08 euros ($19.48) after the company increased its bid to buy out remaining shareholders to 17.20 euros ($19.62), a 12.4% increase from the original bid of 15.30 euros ($17.45). The consortium that took the Paris-based company private in 2024 currently owns 96.7% of share capital.
The two standalone major music companies had mixed results. Warner Music Group rose 0.2% to $26.37, bringing its year-to-date decline to 15.0%. Universal Music Group fell 2.8% to 27.36 euros ($31.20), lowering its year-to-date gain to 14.4%.
K-pop stocks posted gains across the board. HYBE rose 7.0%, erasing the previous week’s 6.8% decline. YG Entertainment was up 7.9%. SM Entertainment rose 4.8% and JYP Entertainment improved 4.0%.
Reservoir Media fell 6.4% to $7.30, increasing its year-to-date loss to 13.7%. On Friday (June 6), B Riley lowered its price target for Reservoir Media to $11.50 from $12.50 and maintained its “buy” rating.
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The fourth week of Sean “Diddy” Combs‘ sex-trafficking trial featured dramatic testimony about the rap mogul dangling a woman from a 17th-floor balcony and buying damning surveillance footage with $100,000 in cash in a paper bag, while a former girlfriend using the pseudonym “Jane” got emotional on the witness stand as she described being forced to participate in marathon “freak-offs.”
Combs is accused of using violence, money and blackmail to force women to participate in elaborate, drug-fueled sex shows called “freak-offs” — charges that Combs denies, saying his sex parties were consensual. Federal prosecutors have been presenting the case to a jury in New York since early May.
The trial’s fourth week began on Monday (June 2) with the cross-examination of Combs’ former assistant, who’s using the pseudonym “Mia” in the trial. Mia testified that Combs sexually assaulted her numerous times during her employment, according to reporting from the New York Times.
On Tuesday (June 3), a security officer at the InterContinental Hotel in Los Angeles told the jury that Combs gave him a brown paper bag full of $100,000 in cash in exchange for now-infamous surveillance footage of the rapper violently beating his then-girlfriend Cassie Ventura. That video is a centerpiece of the prosecution’s case against Combs.
“He said not to make any big purchases,” testified the security officer, Eddy Garcia, according to the Times.
Prosecutors will likely point to Garcia’s testimony to back their claim that Combs used money and the power of his businesses to obstruct justice, a central piece of their racketeering conspiracy charge, while Team Combs has said he was merely trying to prevent bad publicity in buying the footage.
Wednesday (June 4) brought more dramatic testimony, this time from Ventura’s friend Bryana Bongolan. Bongolan alleged that Combs dangled her from the 17th-floor balcony of Ventura’s apartment in 2016, an incident that Ventura previously chronicled in her civil lawsuit that sparked Combs’ downfall.
“I have night terrors and paranoia and scream in my sleep at times,” Bongolan testified about the lasting psychological impact of that night, according to CNN.
Bongolan also told the jury that she once witnessed Combs throwing a knife at Ventura, who gave lengthy testimony at the beginning of the trial about years of alleged abuse. Another time, Bongolan said, Combs threatened her life at a photoshoot.
“He came up really close to my face and said something around the lines of, ‘I’m the devil and I could kill you,’” Bongolan said.
Jurors spent the bulk of both Thursday and Friday (June 5 and June 6) hearing from an anonymous former girlfriend of Combs using the pseudonym “Jane,” the Washington Post reports. In emotional and at times tear-filled testimony, Jane said she felt obligated to participate in Combs’ freak-offs because he paid her rent and other bills.
The jury also watched videos of the freak-offs, in which Jane said Combs forced her to have sex with multiple male escorts over the course of more than 24 hours at a time. She said Combs rejected her requests to use condoms and wouldn’t let her take breaks when she was in pain.
Jane’s testimony often mirrored that of Ventura; notably, both women claimed that Combs coerced them into performing sex acts that the rapper’s defense lawyers insist were consensual. This came through in text messages between Jane and Combs that were entered into evidence.
“I don’t want to play this role in your life anymore. It’s dark, sleazy and makes me feel disgusted with myself,” wrote Jane in one message. “I don’t want to feel obligated to perform these nights with you in fear of losing the roof over my head.”
“Girl stop,” Combs replied.
Jane is set to return to court on Monday (June 9) for more testimony. The trial is scheduled to continue for up to another month.
If owning two versions of four of her Big Machine albums presents a challenge to Taylor Swift, it’s a great problem to have. Then again, it might not be a problem at all.
At first blush, it might seem that Taylor Swift’s decision to purchase her Big Machine master recordings presents her with a difficult decision. Does she emphasize the original versions or the high-profile re-recordings that many fans have purchased and streamed? Then again, Swift isn’t necessarily forced to choose between the two versions of her catalog. Conversations with multiple music industry veterans revealed there are many options for monetizing the Big Machine releases and getting the most out of her investment.
Swift’s immensely successful re-recordings, given the name “Taylor’s Version,” have amassed 15.8 million track equivalent albums (TEAs) in the U.S. so far, according to Luminate. But despite driving her fans to those re-recordings, the four Big Machine versions have continued to perform well. Year to date, the original versions of Fearless, Speak Now, Red and 1989 have a total of 331,000 track equivalent albums in the U.S. — about 40% as much as the re-recorded albums.
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When Shamrock owned the Big Machine masters, Swift effectively had veto power over requests for synch licenses. If a music supervisor wanted a track from one of her Big Machine albums, Swift, who is either the sole songwriter or a co-writer on every track, could refuse to grant permission for the publishing rights. And she announced her intention to do just that in an interview with Billboard after Ithaca bought her catalog in its 2019 Big Machine acquisition, saying she would license her music for movies and commercials only if she owned the master rights. That’s why a 2020 Match.com ad used a re-recording of “Love Story,” not the Big Machine original.
Owning the Big Machine masters opens the door for more synch licenses. Whether the music supervisor wants the original or the re-recording, Swift, as the sole owner of both versions, has a financial incentive to put her songs in ads, films, TV shows and movie trailers, says Bryan Calhoun, a marketing consultant. “I would say, ‘Hey, let’s go crazy. I own this stuff. Let’s go hard.’ And I would have some people dedicated to really being aggressive about going and getting licenses.”
Owning her Big Machine catalog will also create more synch opportunities because some directors and music supervisors will want Swift’s original versions. Michael Hausman, manager of Aimee Mann and ‘Til Tuesday, says Mann re-recorded her song “Wise Up” to keep 100% of the revenue. “It worked out well,” he says. “Most people probably could never tell the difference.” But some music supervisors “just don’t like the idea of a re-record and they want the original,” he adds, “even if there’s no difference” between the two.
Swift’s most fervent fans supported her re-recordings and, in some cases, showed solidarity in her feud with Scooter Braun, whose Ithaca Holdings acquired Big Machine, by avoiding the Big Machine originals. Her four Taylor’s Version re-recorded albums, stuffed with additional material and released in multiple variations, have sold a combined 6 million units to date in the U.S. across digital download and physical formats, according to Luminate. Sales and streaming executive Adam Abramson believes that Swift would similarly find a welcome response to reissues of the original albums.
“While the Swifties were happy to accept the re-records at that time so that they did not have to buy or stream the original, ‘problematic’ versions, I think most will be thrilled to be able to listen to the original albums as they were recorded at those respective points in Taylor’s life,” says Abramson.
Album reissues tend to coincide with anniversaries, and owning her Big Machine catalog gives Swift the opportunity to celebrate her original albums’ 20th anniversaries. Her self-titled Big Machine debut — which was not re-recorded — will turn 20 next year, followed by Fearless in 2028, Speak Now in 2030, Red in 2032 and 1989 in 2034. That gives Swift eight years to repackage her first five Big Machine albums. And considering how well her four re-recorded albums sold, it’s reasonable to think Big Machine anniversary editions could see a similarly strong response from fans.
Owning two versions also gives Swift additional streaming revenue. While Swift has pushed her re-recordings, the Big Machine versions had the benefit of inertia. The four original Big Machine albums have accumulated 406 million on-demand streams in the U.S. in 2025. That’s about two-fifths of the streams from the re-recorded albums, but that many streams — worth 293,000 TEAs — will generate well over $2 million in annual royalties in the U.S. alone.
News of the Swift purchase is an opportunity for digital service platforms (DSPs) to take advantage of fans’ interest, says Adamson. “I would not be surprised, and have already started to see, the DSPs highlighting her newly owned catalog again.” Indeed, on Wednesday (June 3), just four days after Swift announced the acquisition, Apple Music took to Instagram to encourage subscribers to delve into Swift’s entire catalog.
There’s also the lesson of Garth Brooks, who bought his Capitol Records masters in 2005 and took them off streaming and download stores. Brooks tightly controlled the availability of his catalog, first licensing the recordings to Walmart in 2005, then to Amazon in 2017. Brooks has also made deals with select retailers — Bass Pro Shops, Cabela’s, Dollar General — to sell his box sets. Downloads of his music were also made available at GhostTunes, an online music store launched by Brooks in 2014. Brooks could do whatever he wanted because he owned the masters.
Swift could take the Brooks route and do exclusive deals with digital and e-commerce platforms. But it seems more likely that she will capitalize on her unique ability to motivate consumers and maximize her catalog’s availability across all sales and streaming channels. Swift can arguably squeeze more out of her catalog than any one DSP or e-commerce platform, and she’ll do more with it than an investor like Shamrock. “It’s more valuable in her hands than in somebody else’s hands,” says Calhoun.
Vans Warped Tour might be one of the best-selling festivals of 2025, but organizers say no one music act is responsible for moving the bulk of the 240,000 tickets sold so far across three U.S. cities. Indeed, the brand name alone seems to have been enough.
“We sold the vast majority of those tickets before we had a lineup,” says Kevin Lyman, founder and producer of the traveling punk show, which ran from 1995 to 2018 before returning this year for a limited 30th anniversary run. Lyman, who has partnered with Live Nation festival company Insomniac for this year’s Warped, is working from a makeshift office and headquarters after the Los Angeles wildfires earlier this year forced him to leave his Altadena home, which was damaged but largely spared from the blaze.
“I think there’s nostalgia in the market, but it’s not just for the music — people are longing for events that are affordable and give them a chance to discover something,” says Lyman. Prices for this year’s Warped Tour are $149 for a two-day pass, and the tour is much shorter, with just three stops this year instead of the typical 36 markets. Two of the three markets piggyback off events organized by Insomniac: Warped’s Washington, D.C. stop, from June 14-15, comes two weeks after Insomniac’s Project Glow EDM fest; while the Orlando stop, Nov. 15-16, takes place one week after EDC Orlando at Camping World Stadium. Warped Tour is also coming to Long Beach, Calif., from July 26-27 at Shoreline Waterfront Park.
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Each of the three two-day stops on the tour accounts for nearly 80,000 tickets sold. When combined, the fans attending all six days of the Warped Tour this summer will have purchased 240,000 tickets. That’s likely more tickets than were sold at Coachella this year, which took place over two consecutive three-day weekends, sources tell Billboard. It also likely surpasses the number of tickets sold at the three-day Electric Daisy Carnival in Las Vegas.
Billboard recently caught up with Lyman to discuss the 30th anniversary tour, including how he pitched it to Steven Van Doren, son of Vans founder Paul Van Doren; his expectations from the fans; and whether the 2025 outing is a one-and-done or has the potential to return in 2026 and beyond.
What made you decide to bring Warped Tour back?
People don’t miss something until it’s taken away. I had a fantastic crew; we did a lot of marketing for bands and helped a lot of younger artists. And then, when we took it away, people realized that there was a place for something like Warped Tour. But by then I was busy doing other things — traveling, teaching my class at USC and working on other projects. And then the pandemic hit, and being on a college campus and being around young people, I could see a new need for Warped Tour arise.
What kind of reception have you received so far?
I think it’s been exciting because the bands that remember Warped Tour remember how important it was to their careers, and the younger bands now are super excited to be able to have that experience and be part of it.
Why did you bring in Insomniac for this year’s Warped Tour?
There’s a lot of people over there that grew up around Warped Tour, attended in the past and even worked on Warped Tour. Maureen Valker-Barlow, who works as a senior vp at Insomniac and landed her first job at Warped Tour, approached me, and it was easy for us to figure out how to work together. And then it was like the green light came on, and we just ran with it. They have great people over there like Amanda Phelan, who is a great booker, and Maureen, who I previously mentioned, handling sponsorship, as well as Chris Barlow and Nathan Armstrong in production. I’ve always operated as very small and independent, working in a garage, and they’re a big company, and they know how to run festivals. They handle a lot of the day-to-day stuff, absorbing a significant part of the logistics. And marketing. They’ve given me a little bit more of that structure. What was it like approaching Vans to do another tour? That was easy, because Steve Van Doren and myself go back — we’re talking 25 years of Warped Tour and years before that. It was easy to go over there and say, “Hey, here’s the idea, let’s bring it back with these people. I have faith in them.” Sure, there was a lot of paperwork, but it only took ten minutes of conversation to get this thing going.
Was it difficult to come up with a budget around a $149 ticket price?
Not at all, because I knew from the beginning that Warped would only work if we kept the ticket price fair. I feel strongly that a $149, two-day ticket is affordable to our fans. I think 90% of the reason that people are getting turned off by festivals is because they’re too expensive. Warped was always the show for people that maybe didn’t have that money for some of the other festivals. Both myself and Insomniac felt $149 was the right price, and a lot of people have responded to that price. It also helps that we delivered the lineup. It’s an eclectic lineup that touches on our history and past, but it also looks forward to the future. I’m excited to see which of the younger bands we’ve booked get the biggest reaction from the fans.
You’ve got some big names on the lineup this year like Avril Lavigne, Fishbone, Less Than Jake, Dropkick Murphys, Pennywise and Sublime. You’ve also got dozens of baby bands and newcomers scheduled to play. How do you strike the right balance between old and new?
Well, it’s partially an economic exercise. Every band you book, no matter how big, makes up part of your ticket price, and you always have a few that are reliable and a few that are more of a gamble. We’re booking some of these bands in January, wondering how big they will be in August? Are they going to be bigger than what we paid them? Can the $5,000 band generate $25,000 in value from fans who are excited to see them? If you look at our social media right now, we really don’t need to push Sublime or Rise Against. They’re already known. People are going to enjoy them, and they’re going to have a big, big crowd. We want to grab onto those younger acts like LØLØ or Honey Revenge and really boost them on our social media so they have a big audience at Warped Tour. A lot of what we focus on is leveraging the Warped brand and the larger bands to help raise the profile of the smaller acts.
Did you get the idea to list the bands on the lineup poster in alphabetical order from Insomniac?
No, that’s something I started doing in 1996 because I hate arguing over billing. I think we waste so much time arguing over font size on the poster when we should be marketing to fans and getting behind the show. People are smart. People will come and find the bands they want to see. If you could put Korn in the bottom corner of a festival lineup, people would find them and be excited about them.
What about scheduling? How do you keep egos in check with the schedule?
We don’t announce the set times until the day of the show. I do that because I want people to come early and enjoy all the young bands. I go to too many festivals where people come in at sunset and miss all the great young bands. And my thing is, Warped fans are diehard music fans. They’re not fashion fans, they’re there for the music. And they’re going to figure out the lineup. And I think everything we’re doing so far is working. Hopefully, we deliver the show that people will want to come see next year.
So Warped is not a one-and-done? This is a multi-year project?
I want to really go see what the first show is like in D.C. before we make any final decisions on that. I want to go see the audience and who’s coming. Is it people that want to be part of something moving forward, or people trying to capture a memory? My guess is that it will be a blend of both, but we’ll see.
Could it return as a true touring property, going from city to city, buses and all?
No. Definitely not. I can’t do that to myself, hitting the road for two months straight. I’ve had seven different surgeries because of the Warped Tour. I don’t need any more.