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Tencent Music Entertainment’s stock fell by 15% on Tuesday after declines in the leading Chinese music streamer’s quarterly revenue and monthly active users overshadowed higher profit and paid subscriber gains. TME’s revenues of RMB7.16 billion ($985 million) edged 1.7% lower this quarter from the year-ago quarter, and monthly active users for online music services fell […]

ChartCipher will roll out a new tier of service that allows artists and managers to closely analyze the characteristics of hit songs, the company announced on Tuesday (Aug. 13). “This knowledge empowers artists, songwriters, and managers to understand what resonates with audiences and pinpoint what makes their own music unique,” David Penn, ChartCipher co-founder and […]

UnitedMasters is looking to add to their expansive roster and give independent artists a chance to join the software and service platform’s team. Billboard learned on Tuesday (Aug. 13) that UnitedMasters has launched the DEBUT+ app in the United States, which will equip emerging artists with UM’s resources and forward-thinking tools needed to properly elevate […]

Lots of changes are happening for FIFTY FIFTY. Three former members of the K-pop girl group — Saena, Aran and Sio — have reportedly signed with a new label after their fallout with the group’s agency ATTRAKT. Meanwhile, ATTRAKT has announced the addition of four new FIFTY FIFTY members. On Monday (Aug. 12), IOK Company […]

Music industry professionals are not, by definition, first responders, but they do have the ability to rescue people.
That fact alone may be a buoy for many music-affiliated workers who are suffering their own form of burnout, despondency or depression.

Reminding music professionals of their product’s impact is one of the finer points delivered during 24/7: A Mental Health in Entertainment Conference, presented Aug. 7 by Belmont University in Nashville.

“I’ll have individuals in the industry come to me and say, ‘Well, it’s not like we’re doing brain surgery. I know our place in the music industry isn’t that important,’ ” Entertainment Health Services president Elizabeth Porter said during the conference’s “Work/Life Unbalanced” workshop. “I say it’s more important … I say there’s two big influencers in the world: the entertainment industry and politics.”

Politics is all too often divisive. Music, at its best, can rally a group — or, at least, an individual. Porter’s Call founder Al Andrews remembered a “very dark and suicidal time” decades ago when he discovered Jennifer Warnes‘ “Song of Bernadette,” and he played it repeatedly, reveling in its healing message as he bounced back. During his work as a therapist, Andrews has encountered numerous stories about songs that led his patients back from the brink.

“We all have moments when we are rescued, moments where we were sinking and someone threw a rope to us and pulled us in,” he said during the day’s closing session. “Often music is involved. Hope is accompanied by a soundtrack. It almost always is.”

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The power of music is what pulls many into the industry’s labor force. But the experience of working daily with emotions — particularly when companies are understaffed and the job never seems to stop — makes music’s employees particularly vulnerable to burnout and depression. The allure of a vocation connected to fame and entertainment compounds the issue.

“We have a really unique industry because I think it’s one of the only ones that ties so closely to our personal identities,” C3 Presents festival director Brad Parker said. “The pandemic showed that to a lot of us. I kind of felt like part of me was stripped away whenever live music went away during the pandemic, and I did a lot of soul searching to really reinforce that people enjoy Brad Parker outside of the identity of ‘He’s the Bonnaroo guy.’ “

Parker recalled how he was more than willing, during the first five to seven years of his career, to take work-related after-hours calls, fearing that if he didn’t, others were standing in line to replace him. It’s that kind of fear that keeps many of the industry’s worker bees buzzing on the job into the evening.

“The industry is 24/7,” Shading the Limelight founder Cristi Williams said, “hence the title of this conference.”

Williams, in the event’s first presentation, explored the mindset of celebrities, whose emotions and behaviors influence their staffs and ripple outward across the rest of the industry. Fame, she said, is accompanied by two driving forces: a sense of unworthiness that creates self-imposed shame and a competing sense of entitlement that leads to unrealistic expectations. The celebrity’s outlook rides a pendulum, Williams said, that swings back and forth between those points. If that phenomenon goes uncontrolled, the pendulum can become a wrecking ball.

“Success is a lot harder to manage than failure,” she said, “and when the pendulum is oscillating further and faster, it tends to derail us.”

That pendulum — and others — are unavoidable. Mental health, Williams maintained, comes from controlling the swing and the emotional reaction to it.

In recognition of the industry’s fragility, Belmont’s Curb College of Entertainment & Music Business dean Brittany Schaffer announced plans to create a Center for Mental Health in Entertainment. She cited four leaders for a steering committee — Andrews, Onsite Workshops vp of entertainment and specialized services Debbie Carroll, Prescription Songs A&R manager Rachel Wein and Music Health Alliance founder/CEO Tatum Hauck Allsep — charged with shaping the program, which will eventually be housed in Belmont’s Music Row building, projected to open in 2028.

“Until then,” Schaffer said, “we are going to work on building out the team to support the center so that it can exist long before the building does.”

Warner Music Nashville co-head/co-CEO Cris Lacy laid out four issues that trip up the emotional well-being of artists and the industry around them: the tendency to compare their careers to their peers, negative criticism from social media, executives who prioritize self-promotion over their support role and a “texture of scarcity” that, presumably, leads to fear and depression.

One obvious solution for artists and the business as a whole lies in the industry’s own product. There is, Andrews suggested, a “noble purpose” in music, and every person in the business contributes to its influence.

“If you’re in the industry, every one of you is a part of getting the songs out there,” he said. “Everybody in this room has a song that saved their life, and you’re a part of the songs that get out there into people’s hearts. Some of those people, like you and me, are lingering on the edge or not in a good place, or maybe they’re just fighting a great battle, and you’ve brewed [hope]. I want you to believe that. I want you to embrace that. Be encouraged today for what you do.” 

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Susan Wojcicki, a pioneering tech executive who helped shape Google and YouTube, has died, her husband said. She was 56.
Wojcicki played a key role in Google’s creation and served nine years as YouTube’s CEO, stepping down last year to focus on her “family, health, and personal projects I’m passionate about,” she said at the time.

She was one of the most respected female executives in the male-dominated tech industry.

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Her collaboration with Google co-founders Larry Page and Sergey Brin began shortly after they incorporated their search engine into a business in 1998. Wojcicki rented the garage of her Menlo Park, California, home to them for $1,700 a month, cementing a formative partnership. Page and Brin — both 25 at the time — continued to refine their search engine in Wojcicki’s garage for five months before moving Google into a more formal office and later persuaded their former landlord to come work for their company.

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Wojcicki joined Google, now known as Alphabet, as its marketing manager in 1999 and served in various positions as Google grew its online advertising presence by acquiring YouTube in 2006 and DoubleClick in 2008. She served as Google’s senior vice president of advertising and commerce from 2011 to early 2014 and CEO of YouTube from 2014 to 2023.

“Her loss is devastating for all of us who know and love her, for the thousands of Googlers she led over the years, and for millions of people all over the world who looked up to her, benefited from her advocacy and leadership, and felt the impact of the incredible things she created at Google, YouTube, and beyond,” Google and Alphabet CEO Sundar Pichai said in a note to employees.

Former Facebook COO Sheryl Sandberg, who was vice president of Google’s sales and operations from 2001 to 2008 before decamping to Facebook, said in a Facebook post that Wojcicki was formative in her tech career.

“She taught me the business and helped me navigate a growing, fairly chaotic organization at the beginning of my career in tech,” Sandberg wrote. “She was the person I turned to for advice over and over again. And she was this person for so many others too.”

Her husband, Dennis Troper, announced her death in a social media post late Friday.

“My beloved wife of 26 years and mother to our five children left us today after 2 years of living with non small cell lung cancer,” he wrote.

“Susan was not just my best friend and partner in life, but a brilliant mind, a loving mother, and a dear friend to many,” Troper said.

No other details of her death were immediately provided.

Wojcicki and Troper’s 19-year-old son, Marco Troper, died in February at the UC Berkeley campus where he resided as a freshman student.

UMG Nashville has teamed with producer/artist/songwriter Timbaland‘s indie label Mosley Music, with the two companies set to explore rising talent and new music discoveries.
“Over the past year, we have been working with Timbaland on the shared goal of developing great artists together as well as bridging the gaps in sound and culture in country music,” says UMGN chair & CEO, Cindy Mabe, via a statement. “I am so happy to finally announce our collaboration with Mosley Music on the heels of his prestigious induction into the Songwriters Hall of Fame. Timbaland is one of the most iconic producers, songwriters, and artists in the last 30 years, merging genres and opening the doors to magnify cultural impact across genres. Hailing from Norfolk, VA, Timbaland’s reach and impact have been felt across pop, hip-hop, and country music including working with and bridging sounds for artists like Bubba Sparxxx, For King + Country, and Brad Paisley. Timbaland continues to push open the doors making innovative cultural impact by pushing boundaries and I am excited to join forces in breaking barriers in country music.”

Timbaland added via a statement, “I’ve been aligned with Universal Music Group the majority of my career as an artist and with my label Mosley Music, so UMG Nashville felt like the right place to partner for us in Country. I love their mission of taking chances on special artists to meet culture. Cindy, Chelsea, Charlene, Rob, Lori, Mike, and the rest of the team at UMG Nashville understand our vision and I know will be a great partner for us to continue to break artists.”

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UMG Nashville consists of imprints Capitol Records Nashville, EMI Records Nashville, MCA Nashville and Mercury Nashville, with artists including Luke Bryan, Eric Church, Mickey Guyton, Alan Jackson, Carrie Underwood, Keith Urban and more. The label group has recently added to its offerings, launching the TV/film production company Sing Me Back Home Productions, Silver Wings Records, and the comedy division Capitol Comedy Nashville.

Mosley Music Group’s roster includes Timbaland, One Republic, and Carson Lueder. In 2017, Paisley worked with creatives including Timbaland on his album Love and War. In 2001, Bubba Sparxxx and Timbaland earned a No. 15 Billboard Hot 100 hit with “Ugly.”

Universal Music Group and Facebook parent Meta have forged an expanded agreement that will “advance social music opportunities” for the music major’s roster of artists and songwriters across the tech giant’s platforms.
The new arrangement, announced Monday, Aug. 12, covers Meta’s platforms including Facebook, Instagram, Messenger, Horizon, Threads and for the first time, WhatsApp.

Financial terms weren’t disclosed, although a joint statement indicates the partnership ensures that “artists and songwriters are compensated fairly.”

Also, Meta and UMG will continue working together to address, among other things, unauthorized AI-generated content that could affect artists and songwriters.

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UMG has been proactive on the issue of AI in music over the past year, and taken stands to protect against what it sees as harmful uses of AI. It was UMG that partnered with YouTube on a series of AI principles and an AI Music Incubator to help artists use AI responsibly, formed a strategic partnership with BandLab to create a set of ethical practices around music creation, and partnered with Endel on functional music, among other initiatives.

The origins of this arrangement can be traced back to 2017, when Facebook and Universal entered into what Billboard described at the time as an unprecedented and global licensing partnership that would shake-up the way people listen to and share music on the popular social platform.

With that deal, Facebook was finally on good terms with its content partners after a years-long relationship that was, for the most part, frosty.

This renewed partnership “builds on the recognition that music can help connect us and bring fans, artists, and songwriters closer together, not only on established platforms such as Instagram and Facebook,” says Tamara Hrivnak, VP music and content business Development at Meta, in a statement, “but also in new ways on WhatsApp, and more. “We’re extremely grateful to the Universal team, and look forward to growing our partnership in the future.”

Adds Michael Nash, chief digital officer & EVP, Universal Music Group:  “Since our landmark 2017 agreement, Meta has consistently demonstrated its commitment to artists and songwriters by helping to amplify the importance music holds across its global network of engaged communities and platforms, creating new opportunities and applications where music amplifies and leads engagement and conversations.”

In recent months, both parties have collaborated on “landmark campaign rollouts” across the Meta ecosystem for artists including Billie Eilish, Karol G and Taylor Swift.

During a chaotic week for stock markets around the world, Universal Music Group (UMG) shares rose 3.3% to 22.15 euros ($24.20), enough to make the Amsterdam-listed company the top-performing music stock of the week.
Stocks were hammered on Monday (Aug. 5) as markets reacted to a disappointing U.S. jobs report the prior Friday (Aug. 2), leading to mounting concerns the economy could fall into a recession. The Billboard Global Music Index fell 2.0% on Monday, though it experienced a lighter decline than both the Nasdaq (down 3.4%) and the S&P 500 (down 3.0%). Investors didn’t panic, however, and markets made gains over the remainder of the week. On Friday (Aug. 9), the Nasdaq closed down 0.2% for the week while the S&P 500 broke even. 

UMG received a boost on Wednesday (Aug. 7) from Warner Music Group’s quarterly earnings report — a welcome change after a second-quarter slowdown in UMG’s streaming growth so worried investors that the company’s shares fell 24% the following day. WMG’s latest earnings results, which showed that recorded music streaming revenue grew 8.7% after a few adjustments, may have convinced some UMG investors that they overreacted. In light of this new information, UMG shares jumped 6.6% to 22.74 euros ($24.85) on Wednesday. Notably, this Friday’s closing price is 14% above the lowest closing price — 21.12 euros ($23.08) — since the 24% decline occurred on July 25. 

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WMG shares rose 0.3% to $28.34 this week after the company announced that quarterly revenue dropped 1% and net profit improved 14%. The third-largest major’s streaming gains satisfied some, but not all, analysts. Morgan Stanley analysts cited “lowered streaming growth outlook” in lowering their price target to $35 from $41. Guggenheim, encouraged by WMG’s subscription revenue growth acceleration and performance relative to UMG, maintained its $44 price target. JP Morgan, which sees WMG as “well positioned” to capture paid streaming adoption, left its $41 price target unchanged. 

The Billboard Global Music Index, a float-adjusted measure of 20 companies’ market capitalizations, rose 3.1%, breaking a streak of four consecutive weeks with a loss. Spotify, the index’s largest component, gained 2.6% to $339.69. Tencent Music Entertainment, which will report earnings on Tuesday (Aug. 13), rose 2.8% to $12.97.

In the United Kingdom, the FTSE 100 declined 3.6% to 8,168.10. South Korea’s KOSPI composite index fell 3.3% to 2,588.43. China’s Shanghai composite index dropped 1.5% to 2,862.19. 

iHeartMedia shares fell 10.7% to $1.33 following the company’s second-quarter earnings on Thursday (Aug. 8). The company reported a 1% increase in second-quarter revenue and sounded optimistic that political advertising will provide a boost to the full-year results. Both third-quarter and full-year revenue are expected to be up by mid-single digits.

Shares of radio broadcaster Townsquare Media dropped 5.8% following the company’s second-quarter results on Tuesday. Revenue fell 2.5% and net loss increased to $48.9 million from $2.7 million in the prior-year period. Its $0.14 earnings per share missed the Zacks Consensus Estimate of $0.42. 

If your last name is Grainge, you probably oversee a large chunk of the U.S. music business. 
Following Elliot Grainge’s promotion to CEO of Atlantic Music Group effective Oct. 1, the Grainge family— Elliot and his father, Lucian Grainge, chairman/CEO of Universal Music Group (UMG) — will control roughly 37.6% of the U.S. recorded music market, according to Billboard’s analysis of data from Luminate.  

The younger Grainge, whose record label 10K Projects was acquired by UMG competitor Warner Music Group in 2023, will lead a record label group with about 7.9% of the U.S. market’s equivalent album units (EAUs). That includes Atlantic Records, which had a 5.3% share through Aug. 1, along with the remaining labels that comprise Atlantic Music Group — 300 Elektra Entertainment (which includes the labels 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA and Public Consumption) and 10K Projects — with an estimated 2.6% share. 

Led by Republic Records’ 10.5% share and Interscope/Geffen/A&M’s 10.0% share, UMG-owned record labels have a 29.8% share of the U.S. market’s EAUs. Other labels under UMG’s umbrella are Island Records, currently basking in a string of hits by Sabrina Carpenter and Chappell Roan, and Universal Music Group Nashville, a collection of labels that are home to Chris Stapleton, Luke Bryan and Carrie Underwood, among others. UMG also distributes labels it does not own, although for these purposes, Billboard is comparing market share of owned labels only. Billboard estimates that UMG’s distributed labels have an aggregate market share of 8.8% of EAUs.   

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The Grainge’s father-son CEO dynamic is unprecedented even for an industry that often sees the offspring of heavy hitters follow a parent into the business. There have been many family businesses run by successive generations — music publisher peermusic, for example — but never in modern history have a father and son been CEOs of a global music company and a major label music group simultaneously.  

Grainge, age 30, will ascend to CEO of Atlantic Music Group as WMG restructures its organizational chart and Atlantic retools to market music to digital natives (a.k.a. young people). CEO Robert Kyncl is “excited by the prospect of taking Atlantic’s culture making capabilities and adding the 10K Projects founder’s digitally native approach into the mix,” he said during Wednesday’s earnings call.

As Billboard reported in February, Atlantic laid off about two dozen staffers with the intention of “bringing on new and additional skill sets in social media, content creation, community building and audience insights,” with the goal of “dial[ing] up our fan focus and help[ing] artists tell their stories in ways that resonate,” Julie Greenwald, the company’s chairman/CEO, said at the time. Greenwald was to assume the new role of chairman upon Grainge’s promotion but announced her resignation on Tuesday (Aug. 6). She will officially step down at the end of January 2025.