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HYBE’s net income dropped 86% in the second quarter of 2024 as total revenue improved 3.1% to a quarterly record of 640 billion won ($482 million), the company announced Tuesday (Aug. 6).
The South Korean K-pop giant breaks its financial results into two main categories: segments with direct artist involvement such as recorded music and concerts, and those with indirect-artist involvement such as fan clubs, licensing and merchandise. In the second quarter, indirect revenue streams grew 17.4% to 217 billion won ($163 million). Direct revenue fell 2.9% to 424 billion won ($319 million) as concerts dropped 8.6% to 144 billion won ($108 million) while recorded music improved 1.5% to 250 billion won ($188 million).
Operating profit—total revenue less cost of sales and operating expenses—dropped 37.4% to 51 billion won ($38 million), a smaller decline than experienced by net income because of a sharp drop in non-operating income. Earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of the company’s cash profit from operations, fell 24.6% to 79 billion won ($59 million).
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Results for the first six months of the year were, across the board, a bit worse than a year earlier. Although total revenue topped 1 trillion won ($741 million) for the second consecutive year, that amount was 2.9% lower than a year earlier. First-half operating profit, net income and EBITDA were also lower than the first half of 2023.
HYBE sold fewer albums in the first half of the year but dominated sales charts in South Korea and Japan. Led by Seventeen’s 4.4 million albums sold in the first half of the year, HYBE had 9 of the top 20 artists ranked by album sales in South Korea. Seventeen’s Best Album ’17 is Right Here’ ranked second in Japanese album sales with 423,000 units while its SEVENTEENTH Heaven: 11th Mini Album ranked No. 6 with 242,000 units. In the U.S., Tomorrow X Together’s Minisode 3: TOMORROW ranked No. 2 in CD sales behind Taylor Swift’s The Tortured Poets Department.
Streaming accounted for 35% of recorded music revenue, up from the first half of 2023. In a first-of-its-kind breakdown of the company’s streaming revenue, HYBE revealed that domestic streaming revenue for HYBE’s labels South Korea was 18 billion won ($18 million), less than half the amount from full-year 2023. (It did not provide first-half streaming revenue figures for those labels’ streaming revenue outside of South Korea). HYBE’s U.S. labels—Big Machine Label Group and Quality Control—also had streaming revenue of 61 billion won in the first half.
Weverse, HYBE’s social media platform, had 9.6 million monthly active users, up from 9.2 million in the first quarter and even with the 9.6 million MAUs a year earlier. Beyond traditional social media functions, Weverse also has an e-commerce element, Weverse Shop, and live streams artist chats and concerts. Ariana Grande joined the platform in July, joining HYBE artists such as BTS and ENHYPEN and non-HYBE acts such as BLACKPINK and NCT-127.
This is a transformational time for the company built on the global success of boy band BTS but now expanding into new markets and initiatives. In July, HYBE named Jason Jaesang Lee as its new CEO to lead its growth strategy that was announced on Aug. 1. Dubbed “HYBE 2.0,” the plan reorganizes the company to drive global expansion and focus on tech-driven initiatives. HYBE Music Group APAC combines its record labels in South Korea and Japan. The Scooter Braun-led HYBE America will bring management to its label operations. Social media platform Weverse will launch a subscription membership tier. HYBE is also accelerating its efforts in gaming, AI, audio and voice technology.
Julie Greenwald will step down from her role as co-chair/COO of Atlantic Records and chairman/CEO of Atlantic Music Group, she announced during a company town hall on Tuesday (Aug. 6). She will be succeeded in her role as chairman/CEO of Atlantic Music Group by 10K Projects CEO/founder Elliot Grainge, effective Oct. 1.
The Zoom call was roughly 10-15 minutes long, according to sources at the label. Greenwald’s announcement of her departure was said by staffers who spoke with Billboard to be both “classy,” “inspiring” and “empowering,” with the longtime executive focusing on the success she has seen at Atlantic over the last two decades and clarifying that she will officially exit at the end of January 2025.
Tuesday’s announcement comes just five days after it was reported that Warner Music Group would be undergoing a major executive restructuring that would see CEO of recorded music Max Lousada stepping down at the end of September, Grainge ascending to the role of CEO of Atlantic Music Group effective Oct. 1 and Greenwald transitioning to the role of chairman of Atlantic Music Group, a move described in a press release as a “leadership transition.” The changes are thought to be far-reaching and indicative of a generational shift at Warner Music Group, which has been helmed by CEO Robert Kyncl since Jan. 1, 2023.
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One of the most celebrated executives in the music business, Greenwald has spent the last 20 years of her career at Atlantic and become practically synonymous with the storied label. During her time at the helm of Atlantic Music Group, she shepherded the careers of artists such as Bruno Mars, Ed Sheeran, Cardi B, Twenty One Pilots, Brandi Carlile, Charli XCX, Lil Uzi Vert and dozens more. She was named Billboard’s Women in Music executive of the year in 2017.
Greenwald led Atlantic alongside Craig Kallman, co-chair/CEO of Atlantic Records and the A&R brain behind the operation. Kallman will continue to hold the title of CEO of Atlantic Records.
At the time of the restructuring announcement, Greenwald said in a statement: “My whole career is about developing baby bands into career artists and empowering our amazing people to change culture in unexpected ways. It’s been 20 years since I walked through the door at Atlantic and began the work of rearchitecting this iconic label. I couldn’t have done it without the deep passion and dedication of my incredible team, and our unbelievable artists, who make music that inspires and moves people everywhere. Finally, I want to welcome Elliot; I’m looking forward to working with him as we continue to place our artists and their music at the heart of this company.”
Additional reporting by Melinda Newman.
Gamma has established strategic partnerships with The Music Arena, The Temple Company and Sol Generation Publishing and Distribution in Africa as well as LPME Records in the Middle East.
Gamma’s latest partnerships bolster the company’s commitment to supporting artists and labels in these regions, which its founder Larry Jackson outlined last year to Billboard when his media and entertainment company first expanded its operations there. Last May, Sipho Dlamini and Naomi Campbell joined gamma as president and special advisor for Africa and the Middle East, respectively; Larry Gaaga was named vp/GM for Africa and Dany Neville was named vp of A&R for the Middle East last August.
“It’s incredibly gratifying to see the enthusiasm shown by our new strategic partners, their artists and stakeholders in aligning with gamma. We’re well under way, engaged in bolstering the creative momentum for artists from these key markets,” Dlamini said in a press statement. “An indication of our ambition is that in conjunction with our new partners we’re generating writing camps in Nigeria, South Africa, Kenya and the [United Arab Emirates]. I don’t know of another company that is navigating the continent and region in this manner with this reach. The creative collaborations we’re establishing will further travel local music to global adoption.”
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In June, the company officially launched gamma South Africa in Sandton, one of the country’s biggest financial hubs within Johannesburg. Gamma hosted a launch party on June 6, with Dlamini, Gaaga, Thabo Keith Ngweya, gamma’s strategic partnerships & culture marketing lead for Africa, Sikhulile Nzuza, gamma’s strategic partnerships, culture & operations lead for Africa, and more in attendance. The company has been providing dynamic opportunities for South African acts since last year, such as tapping DJ/producer MöRDA to remix “Mysterious Ways” on The Color Purple (Music From And Inspired By) that the company distributed alongside WaterTower Music last December (with Jackson as one of the producers, alongside Quincy Jones and Scott Sanders). Gamma recruited MöRDA again as well as Major League Djz, Junior Taurus and Soa Mattrix to create amapiano and Afro House-inspired remixes of Usher and Nigerian singer-songwriter and producer Pheelz’s “Ruin” from the former’s latest album COMING HOME that was distributed via Usher and L.A. Reid‘s mega and gamma in February.
Gamma’s partnership with the Johannesburg-based conglomerate The Music Arena aims to continue bridging the gap between South African artists and international markets by providing artists with unprecedented opportunities to collaborate with an international label, leveraging gamma’s expertise in the global market (especially in the U.S.), with a special focus on artist collaborations and joint ventures.
The Music Arena is comprised of three different music entities: Gallo Music, South Africa’s largest and oldest independent record label; Gallo Music Publishers, Gallo’s publishing arm that’s home to iconic composers and a rich repository of cultural works; and Content Connect Africa, the continent’s leading independent media and content business that represents over 2,000 African artists and labels. The Music Arena’s global footprint spans South Africa, Uganda, Nigeria, Ghana and the U.S.
“The Music Arena is delighted to be partnering with gamma in a multi-faceted deal, which will grow our artists’ presence internationally as well as represent gamma’s artists on the network operators’ platforms in Africa,” said Antos Stella, CEO of The Music Arena, in a statement. “Our focus remains on developing and growing our artists and composers globally.”
Gamma’s new alliances aim to cover the entire African continent. The company’s partnership with The Temple Company, a leading record label, TV/film production company and talent management agency based in Lagos, aims to connect Nigerian artists to global audiences by developing and promoting Nigerian talent, with a special focus on cross-cultural collaborations to maximize international exposure. One of the first projects from this partnership is Nigerian superstar D’Banj‘s new album Entertainer–The Sequel, the follow-up to his 2008 album The Entertainer, which will be released on Aug. 16.
“Our partnership with gamma marks a pivotal moment for The Temple Company and the Nigerian music industry at large. This collaboration will open up new opportunities for our artists to showcase their talents on a global stage,” said Idris Olorunnimbe, The Temple Company’s group chief executive. “We’re particularly thrilled about D’Banj’s upcoming album, Entertainer–The Sequel, which we believe will be a gamechanger in demonstrating the universal appeal of African music. Together with gamma, we’re committed to nurturing and promoting the incredible talent that Nigeria has to offer, and we’re confident that this partnership will play a crucial role in shaping the future of African music on the world stage.”
Gamma will also celebrate East Africa’s rich musical heritage through its partnership with Nairobi, Kenya-based Sol Generation Publishing and Distribution, the music publishing and distribution arm of award-winning Afropop group Sauti Sol.
LPME Records is committed to producing music that inspires unity and celebrates cultural diversity and establishing Dubai, UAE, as a musical creative hub. The labels currently represents three dynamic artists: the label’s first signee Dawda, a Gambian-Estonian star who blends Afrobeats, hip-hop, R&B and pop and has written and produced for Britney Spears, Akon, Oxlade and Snoh Aalegra; Yasmina, a Tajikistani artst who’s known for her unique fusion of Arabic and pop music; and Alya, an Emirati-British singer/songwriter/dancer/actress who draws inspiration from soul, jazz, R&B, hip-hop, amapiano and Afrobeats. Additional signings will be announced later this summer.
The state-of-the-art LPME Studios is reputable for having top-class sound quality and being a creative hub fostering musical innovation. The facility includes six production rooms, two Dolby Atmos rooms, a main stereo room, live band and vocal rooms and more. Artists like J Balvin and Jason Derulo as well as Grammy-winning engineer Tony Maserati have previously worked there.
“We are incredibly excited to enter into this partnership with gamma. This collaboration represents a significant step forward in our mission to share the rich and diverse sounds of our artists with a global audience,” added Moh Denebi, LPME Records’ label manager and producer. “Together with gamma, we are confident in our ability to elevate our artists’ reach and impact, bringing fresh, innovative music to listeners around the world.”
The Mechanical Licensing Collective (The MLC) has partnered with Beatdapp, an independent fraud detection company, to prevent streaming fraud. While the MLC already has internal measures in place to fight against this, their collaboration with Beatdapp will provide additional and complementary protections to their database.
Beatdapp has quickly become the music industry’s go-to for independent fraud analysis in the last few years. The company has worked for a number of record labels, collection societies, distributors and streaming services to help them sift through trillions of lines of data and identify and investigate suspicious patterns. At the beginning of this year, Beatdapp announced a strategic partnership with Universal Music Group and a fundraise of $17 million in its latest funding round. Other clients include SoundCloud, Beatport, 7digital and more.
According to a report from Centre National de la Musique (CNM), a government-backed organization that supports France’s music industry, in 2021, over 1 billion music streams — between 1% and 3% of all streams generated in the country that year — were fraudulent. Streaming fraud can take on a number of forms. This can include falsely claiming royalties and ownership of songs made by other artists, or uploading songs and juicing their stream count using various means, like bot farms or account hacking.
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Billboard has investigated the rise and persistence of royalties fraud, including one story detailing an outfit out of Arizona, called Mediamuv, which stole $23 million in YouTube royalties over the course of 5 years. “The methods used by fraudsters are constantly evolving and improving,” as the CNM report states.
“The MLC is uniquely positioned within the music industry to contribute significantly to addressing streaming fraud,” says Andrew Mitchell, chief analytics and automation officer at The MLC. “Building on our ongoing efforts, we are proud to be working with Beatdapp to further amplify the many ways The MLC serves its 43,000+ Members.”
“The MLC plays a vital role in the music industry and we’re proud to collaborate with them and enhance their continuous efforts to combat streaming fraud,” says Morgan Hayduk and Andrew Batey, co-CEOs at Beatdapp. “Beatdapp has built its technology by learning from the best trust and safety solutions serving other online verticals and tailoring our technology to the unique attributes of music, to provide an unbiased, independent fraud detection solution capable of grappling with the persistent and ever-changing nature of fraud.”
Monica signed with WME in all areas. The Grammy-winning singer recently came off a supporting slot on Nick Minaj’s Pink Friday 2 Tour in North America and is prepping the release of two full-lenghts this year: R&B album MDA and country album Open Roads (executive produced by Brandi Carlile). She recently joined Brandy on a remix of Ariana Grande’s “the boy is mine” — a reimagining of the pair’s smash 1998 duet. Monica continues to be managed by Melinda Dancil.
English punk rock duo Soft Play partnered with Rise Records/BMG for the release of their new album, Heavy Jelly, which debuted at No. 3 on the UK Official Albums Chart dated July 25, 2024. The duo was previously known as Slaves before changing their name in 2022 following a backlash over their former moniker.
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ONErpm signed L.A.-based alt-rock trio Sick Puppies (“You’re Going Down”) for the release of the band’s forthcoming sixth album Wave the Bull, which is due out early next year. The album’s first single, “There Goes the Neighborhood,” was released July 26.
RECORDS Nashville signed newcomer singer-songwriter Drew Green, who has seen viral success with the song “Lotta Bit of You.” RECORDS Nashville is the boutique outpost of industry executive Barry Weiss’ label RECORDS. Green’s first RECORDS Nashville-helmed single is “Town Drunk,” while he’s also prepping an upcoming collaboration with HARDY titled “Colorado.” – Jessica Nicholson
Bruce Kalmick‘s WHY&HOW added artists Tyler Halverson and Cameron Sacky Band to its artist management roster. Halverson will be overseen by Patrick Farr while Allie Petko and Eddie Kloesel will oversee Cameron Sacky Band. Halverson has released the independent singles “Beer Garden Baby,” “Mac Miller” and “Your Bar Now,” while Cameron Sacky Band issued a self-titled 2021 EP and is set to release the full-length project Quicksand. Cameron Sacky Band is repped by The Neal Agency for booking. – Jessica Nicholson
Singer-songwriter John Morgan signed with Rich MGMT. The North Carolina native is also signed to Night Train Records/BBR Music Group and is currently on Billboard’s Country Airplay chart with the song “Friends Like That” featuring Jason Aldean. Morgan also has writing credits on hits including Aldean’s “That’s What Tequila Does,” “Trouble With a Heartbreak” and “If I Didn’t Love You” with Carrie Underwood. Rich MGMT was founded by Brendan Rich in 2023 with a roster that also includes Matt Stell, George Birge and Darren Kiely. The company also recently added to its staff with digital coordinator Jordan Policastri, who joins day-to-day managers Sarah Paravia and Chase Miller. – Jessica Nicholson
Montreal beatmaker/instrumentalist tender spring, who is part of the Canadian indie band Afternoon Bike Ride, signed to Nettwerk for the release of the album you are now listening to a tender spring. Born David Tanton, the musician released the album’s “side a” on July 26, with the remainder to be released at a later date.
Nettwerk also signed L.A.-based, New Zealand-born Laotian artist Alisa Xayalith, who is best known as the frontwoman of The Naked and Famous. The label is set to release her new single, “Roses,” on Friday (Aug. 9), to be followed by more new music produced by Tyler Spry (OneRepublic, Tate McCrae).
Elektra Records signed Kevian Kraemer, an 18-year-old singer-songwriter, multi-instrumentalist and producer based in New Jersey who released his debut EP Seventeen earlier this year. On Friday (Aug. 2), the label released a stripped-down version of his breakthrough track “Attention.” Kramer is managed by Chris McAndrew and Jamar Richardson at Paia Management, with legal representation by attorney Paul Rothenberg at Rothenberg, Mohr, & Binder.
Ken Pomeroy, a Cherokee singer-songwriter from Moore, Okla., signed to Rounder Records. Now based in Tulsa, Okla., Pomeroy’s song “Cicadas” was featured in an episode of the FX series Reservation Dogs. She also appeared in this summer’s Twisters, performing her song “Wall of Death” with Wilderado and James McAlister. The song is also featured on the film’s soundtrack.
Downtown Neighboring Rights signed a global deal with singer-songwriter Lady Blackbird to represent her catalog, which includes singles such as “Woman,” “Feel It Coming” and “Dark Days” with Moby.
Secretly Canadian signed singer-songwriter Brandon. The label will release his EP Blush on Sept. 13; the first single, “Without You,” was released Wednesday (July 31).
My Brightest Diamond signed to Western Vinyl, which will release her new album, Fight the Real Terror, on Sept. 13. The singer-songwriter, who just came off her originating role in Broadway’s Illinoise (based on the Sufjan Stevens album), is managed by Andrea Troolin at Ekonomisk and booked by Alex Fang at New Frontier (North America) and James Alderman at Free Trade (international). Her new song, “Have You Ever Seen an Angel,” was released July 26.
Capitol CMG has signed artist-writer Claire Leslie, who just released her label debut single, “Original.” The song was written by Leslie, Jordan Sapp and Daniella Mason. – Jessica Nicholson
Third Man Records signed Australian band The Belair Lip Bombs and will reissue the group’s 2023 album, Lush Life. It is the label’s first Australian signing. The Bombs’ second album is expected for release sometime next year.
This is The Legal Beat, a weekly newsletter about music law from Billboard Pro, offering you a one-stop cheat sheet of big new cases, important rulings and all the fun stuff in between.
This week: AI music firms Suno and Udio hit back hard at a billion-dollar copyright lawsuit filed by the major labels; Damon Dash faces a court-ordered auction of his one-third stake in Jay-Z’s Roc-A-Fella Records; Cardi B files for divorce from husband Offset; and much more.
THE BIG STORY: “A Threat to Their Market Share”
The first “answer” to a lawsuit is typically a pretty sparse document. An accused defendant admits or denies each claim and offers up a list of every possible defense they might use, but that’s about it. The real arguments are usually saved for later filings, like a motion to dismiss the case. That’s what made the answers filed last week by AI music firms Suno and Udio so fascinating. Facing sprawling copyright lawsuits from the music industry, the two companies went well beyond boilerplate denials – offering extended arguments that attempted to frame the narrative of a multi-billion dollar legal battle that could take years to resolve. In doing so, they admitted to using copyrighted songs to train their models, and they argued that doing so was clearly a form of legal “fair use.” And they blasted the major labels (Universal Music Group, Warner Music Group and Sony Music Entertainment) that filed the case, accusing them of abusing copyright law to maintain that power. “What the major record labels really don’t want is competition,” Suno wrote in its filing. “Where Suno sees musicians, teachers and everyday people using a new tool to create original music, the labels see a threat to their market share.” Go read our full story on the response filings, with access to the full arguments made by both companies.
Other top stories this week…
REASONABLE DOUBT? – Damon Dash’s one-third stake in Jay-Z’s Roc-A-Fella Records is going up for a court-ordered auction later this month to help pay off his debts – namely, more than $1 million in legal judgments and another $145,000 in unpaid child support. The minimum bid for the auction has been set at $1.2 million, but it’s not exactly clear what the buyer would be purchasing — and they shouldn’t expect a normal due diligence process. JT PLEADS NOT GUILTY – Justin Timberlake entered a not guilty plea to drunk driving charges following his June arrest in the Hamptons, appearing virtually while on the European leg of his Forget Tomorrow World Tour. During the hearing, the star’s attorney reiterated previous statements that Timberlake (who refused to take a breathalyzer) was actually not intoxicated at the time of his arrest. CARDI B DIVORCE – Cardi B filed for divorce from Offset after seven years of marriage, a split that her reps said “has been a long time coming and is amicable.” In her divorce petition, filed in New Jersey court, the Grammy-winning hip-hop superstar is seeking primary custody of her two children and unborn baby on the way, as well as child support from Offset. The “WAP” star previously filed for divorce in 2020 in Atlanta, but later withdrew the case after the two stars reconciled. DON’T STOP LITIGATIN’ – The never-ending legal battle between Journey members Jonathan Cain and Neal Schon erupted yet again, with Cain filing a new lawsuit against Schon over claims that his “exorbitant” spending and other problems have led to a “deadlock” that’s threatening to cripple the band’s touring operations. If you want an idea of how dysfunctional things have gotten between Cain and Schon: “It is common that one director will terminate an employee or crew member, and hours or days later, the other director will rehire that same individual.” NO BOND FOR YOUNG THUG – Judge Paige Reese Whitaker, the newly-installed replacement judge overseeing Young Thug’s sprawling Atlanta gang trial, denied the rapper’s renewed request to be released from jail, leaving him incarcerated until a verdict is reached sometime next year. Thug has already been sitting in jail for more than two years while the slow-moving case has dragged on, through an unprecedented 10-month jury selection, a trial marked by delays and disruptions, and now weeks of tumult over a secret meeting between the judge and prosecutors. FEDERAL AI DEEPFAKES BILL – A bipartisan group of U.S. senators introduced the NO FAKES Act, which aims to protect artists and others from deepfakes and AI-powered fake vocals like last year’s Fake Drake song. The bill would for the first time create federal intellectual property protections for the so-called right of publicity, which restricts how someone’s name, image, likeness and voice can be used without consent. STUBHUB SUED OVER ‘JUNK FEES’ – StubHub was hit with a lawsuit from Washington D.C.’s attorney general over allegations that the ticket resale platform foists “convoluted junk fees” on concertgoers after luring them in with “deceptively low prices.” The case, which echoes complaints made by the Department of Justice about Live Nation and Ticketmaster, claims that DC consumers alone have paid $118 million in such fees to StubHub since 2015. R. KELLY AT SCOTUS – The disgraced R&B singer took one of his sex abuse convictions to the U.S. Supreme Court, urging the justices to overturn his convictions for child pornography and enticement on statute of limitations grounds. The appeal does not deal with Kelly’s other set of convictions on racketeering charges, which remains pending before a lower court. KISS KISS, BANG BANG – The 1975 and the band’s frontman Matty Healy were hit with a $2.4 million lawsuit from the organizers of Malaysia’s Good Vibes Festival – an event that was shut down last summer after Healy gave a speech criticizing the country’s anti-LGBTQ laws and then kissed a male bandmate on stage. The incident (which has been criticized by local rights activists as counterproductive) breached the band’s contract with the festival, according to the lawsuit. SAMPLE SETTLEMENT – French Montana reached a settlement to end a lawsuit claiming his 2022 song “Blue Chills” features an unlicensed sample from Skylar Gudasz’s 2020 song “Femme Fatale.” The deal will resolve a case that claimed French’s reps had tentatively agreed to license the clip, but that the rapper released the song without ever actually doing so. JUICE WRLD ESTATE SUED – A music producer named Joshua Jaramillo is suing Juice WRLD’s estate over claims that he’s owed royalties from the late rapper’s 2021 hit “Girl of My Dreams.” Jaramillo claims he was promised a 5% ownership stake and an additional 1% producer royalty for the track, which featured Suga of BTS and debuted at No. 29 on the Hot 100. ANOTHER TIKTOK CASE – The Justice Department filed a new lawsuit against TikTok claiming the social media giant had violated children’s online privacy law and run afoul of a previous settlement with the Federal Trade Commission. While serious, the case is likely second on the list for TikTok’s legal team, which is also litigating a separate lawsuit challenging legislation that would block the company from operating in the U.S. entirely. CYRUS DIVORCE SETTLED – Billy Ray Cyrus and wife Firerose (born Johanna Hodges) have reached a settlement to end their contentious divorce case, ending weeks of hyperbolic accusations of abuse and wrongdoing from both sides. In a statement, Cyrus said he was “relieved” and called the short-lived marriage an “insane scam.” A source close to Firerose countered with a statement that said she had settled for no money and wanted her husband’s “smear campaign” to end. KEHLANI CULT CLAIMS – Kehlani’s ex-partner Javaughn Young-White filed a petition seeking legal and physical custody of their 5-year-old daughter, claiming that singer is involved in a cult. “This cult controls her actions and her behavior, including when it comes to the upbringing of our daughter,” Young-White’s lawyers wrote.
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MELBOURNE, Australia — Roger Field returns to the live music industry with a new venture, Further Afield.
The former Live Nation Asia Pacific president helms the advisory business, which will guide clients looking to interact with live events, with a focus on business development, market insights and industry advocacy.
His approach, Field explains, is built on creating new ways to “connect the previously unconnected.”
Also, the Melbourne-based executive will leverage his know-how on advocating with government on live events.
“My previous role leading an APAC organization of 300-plus people and tens of millions of dollars turnover gave me the privilege of dealing with prime ministers, premiers, politicians, media and peak bodies,” he comments, “leading to a significantly improved appreciation of the capability, scale and value of the live industry.”
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Prior to splitting with LN in late 2023, Field was regularly identified as one of Billboard’s international power players, a key figure in live entertainment who led the concerts giant’s presence across Australia and New Zealand, before taking the reins in a pan-Asia Pacific role.
Field logged 13 years with the company, joining in 2010 at the launch of Live Nation Australia. Two years later, LN acquired Michael Coppel Presents, reuniting the concerts specialists (Field had worked with Coppel in 2003). The promotions would come, with Field elevated from vice president of promotions to chief operating officer, then CEO for Australia and NZ.
Another elevation came in 2020, when Field was appointed LN president, Asia Pacific, a new position.
At the height of the pandemic, in mid-2020, Field was appointed to a leadership role for the Live Entertainment Industry Forum (LEIF), created to help safely reactivate concerts, sports and shows of all kinds as restrictions across the country were eased, and he was part of a music industry delegation that helped secure a A$250 million federal government “lifeline” for the music industry.
During his time leading LN’s affiliate, Field oversaw stadium tours for likes of Taylor Swift, Coldplay, U2 and Red Hot Chili Peppers, the business diversified with its VIP offering, brand partnerships with the likes of National Australia Bank, Telstra and American Express, formed strategic partnerships with government and private entities including Secret Sounds, and added a slew of venues to LN’s portfolio.
“The live events industry isn’t particularly easy for outsiders to understand and navigate, and I see this as a huge, missed opportunity,” he says of his new business. “I’m already working with some fantastic clients, and my time away has reaffirmed that there are so many opportunities for adjacent markets, private equity and venture capital to proactively engage with the live events industry.”
K-pop stocks were the hardest hit music stocks on Monday (Aug. 5) as global markets continued Friday’s decline in the U.S. with major selloffs. Four K-pop companies — HYBE, SM Entertainment, JYP Entertainment and YG Entertainment — fell an average of 8.8% on Monday, while a major South Korean stock index, the KOSPI composite index, […]
Adele‘s 10-night August residency in Munich, which opened Friday night (Aug. 2), could be the biggest concert engagement ever, both in terms of attendance and ticket sales. It almost certainly represents the biggest bet anyone has placed in the live music business this year.
The shows, promoted by Live Nation Germany and the Austrian Leutgeb Entertainment Group, are held in a custom-built venue that holds 74,000, and the production is reported to have cost more than $100 million, including construction cost. Just the 220-meter-wide screen, said to be the biggest in the world, is said to have cost dozens of millions of dollars. And that’s before the string section, fireworks, and the logistics involved in Adele World, which includes a Ferris wheel, a biergarten, and merchandise operation the size of a large boutique.
The engagement, which runs two days a week throughout August, could break the Billboard Boxscore attendance record for a concert engagement, currently held by Coldplay, which drew 627,000 fans to 10 shows in Buenos Aires in 2022. It could also break the box office record of almost $110 million, held by U2 for its first 17 shows at the Sphere, in 2023. (Adele has not generally reported concert grosses to Billboard Boxscore, so the records may stand anyway.)
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Adele, who has been performing the Weekends with Adele residency at the Colosseum Caesars Palace in Las Vegas, has not played in continental Europe since 2016 and has no concerts booked there, so the shows in Munich are a destination event. She had no plans to play anywhere this summer, until Klaus Leutgeb presented her manager, Jonathan Dickins, with the idea for the residency.
Adele performs onstage at Messe München on Aug. 2, 2024 in Munich, Germany.
Kevin Mazur/Getty Images for AD
Concert residencies are becoming more popular, but they are mostly an Anglo-American phenomenon. In this case, Munich is a relatively small city by international standards, with a population of about 1.5 million in a metro area a bit less than four times that. (By comparison, Los Angeles has 3.9 million in a metro area of 13.2 million.) That implies that most concertgoers are coming from outside the city or the country. (Anecdotally, Billboard met fans from all over Germany at the show, plus a few each from the Netherlands, the UK and Ireland.)
All that tourism will bring an enormous amount of money to Munich. The city’s top economic official, Clemens Baumgärtner, has said Adele’s residency will bring in 560 million Euros ($614 million). The city is an ideal place to hold a residency, given its relative proximity to Austria, Italy and Switzerland; it’s easy to get anywhere in Germany by train and anywhere in Europe by plane.
The promoters told the German music trade publication Musik Woche that 95 percent of the tickets had been sold. (Live Nation Germany did not respond to questions about sales, and the shows are not sold out, although the first show looked close to capacity.) Even if just 85 percent of tickets are sold, this engagement would break Coldplay’s attendance record. Tickets were available at an array of prices, from 79 Euros ($87) to more than a thousand Euros for high-end VIP packages, with some tickets available for 35 Euros ($38) the day of the show; at 85 percent capacity, an average price of 160 Euros ($176) would make it the highest-grossing engagement as well. (Some tickets seem to be available for less than face value on the secondary market, and a half dozen concertgoers were trying to sell extras before the first show, but the promoters apparently sold those initially.)
IMPEL has announced a new partnership with AMRA, the Kobalt-owned global digital licensing and administration platform. With this new deal, IMPEL, a global licensing collective made up of 57 independent music publishers in 14 territories, is now offering its services in Australia, New Zealand, Brazil, and various Southeast Asian countries for the first time. Through […]