indie
Page: 2
Declan McKenna is in a transitional state. When Billboard speaks to the British musician in early October, he’s surrounded by boxes while he moves apartments in London. He’s also packing his gear for a string of live headline dates in North America, which include a role as a special guest on Sabrina Carpenter’s Short n’ Sweet tour, his first-ever arena gigs. It’s a period of fresh beginnings and new opportunities.
Explore
See latest videos, charts and news
See latest videos, charts and news
Then there’s the biggest change: after a decade signed to Columbia Records, McKenna is going independent. McKenna signed with the label in 2015 aged 16 following the success of his viral single “Brazil” and his victory in Glastonbury Festival’s Emerging Talent Competition. The indie–pop song was a riposte to soccer governing body FIFA and their decision to name Brazil as hosts for the 2014 World Cup without addressing deep-seated inequality and poverty. The track is approaching 675m streams on Spotify.
Trending on Billboard
McKenna released three LPs on Columbia, most recently What Happened To The Beach? which charted at No.3 on the UK Albums Charts in February. There were shades of Paul McCartney’s 1971 solo record Ram and a looser West Coast feel to the record which was made in LA with producer Gianluca Buccellati, whose credits include Arlo Parks and RAYE. McKenna also played a 10,000 capacity headline show at London’s Alexandra Palace to accompany its release.
As the deal was approaching its end, McKenna started plotting a new path forward. Now, he’s self-releasing his music via his label Miniature Ponies, a joint venture with ADA, a distribution company owned by Warner Music Group.
“I did like the idea of being independent and not having to explain what you’re doing and why you’re doing it,” McKenna says. “I feel quite confident that I know how to do it, and it felt like the right time to try and get something else out.” He’s effusive with praise with some of his collaborators at the label, but says the relationship had met its natural end having fulfilled his obligations for three studio albums.
McKenna toasts to the new era with a double AA-side single “Champagne” and “That’s Life,” the first release on Miniature Ponies. On the two tracks he fuses more electronic elements into his sound, and retains his passion for hooky songwriting; McKenna’s melodies and choruses are some of the best to come out of British pop in recent years. Both songs examine the ludicrous excesses and follies of success, and on “Champagne” we’re drawn into vacuous conversations where the social currency is attention: “Of course I didn’t mean what I said, I just wanted them to laugh,” he begrudgingly admits.
A key reason behind the decision to go independent, McKenna says, was to streamline the decision making process and to work freely with potential collaborators across his music and visuals.
“If I were there advising my younger self I would say ‘you need to stick to your guns on this,’” McKenna says. “There’s a lot of working through fear from all different corners of the industry but pushing past that and letting creativity happen naturally is so necessary and important.”
Outwardly facing, his catalog so far has shown little signs of compromise. His ambitious 2017 debut What Do You Think About The New Car? was produced with former Vampire Weekend member Rostam Batmanglij and James Ford, whose credits include Arctic Monkeys and Florence + The Machine. 2020’s Zeroes, meanwhile, nodded to ‘70s glam-rock and embraced the imperfect nature of the creative process, and boasts one of his finest songs in “The Key To Life On Earth.”
Likewise, McKenna’s voice continues to be forthright. In 2019 he released the single “British Bombs” which highlighted the role that British arms companies play in fuelling conflict on a global scale; it’s now a fan favorite and a staple of his live performances.
The new independent era dovetails with some of McKenna’s biggest shows. From Nov. 1, he’ll join Carpenter as her main support at arena shows in Los Angeles, Seattle, Denver and more. He said the pair met at Lollapalooza Festival in Chicago last summer where Carpenter revealed she was a fan of his work. Earlier this year Carpenter invited McKenna to join as a special guest, following on from fellow British artist Griff who also got the call for the tour.
“It might be surprising for some people, and it was surprising for me to an extent, because I’m not exactly the bookies favorite to do this gig,” he laughs. “Sabrina, along with a couple other pop artists that are quite obvious, has brought a sense of fun back to pop music”
He adds: “Most of the music I love isn’t super clear about the lyric meanings and intentions. Sabrina has a bit of that. She can hammer home a concept, but also have fun.”
After that he’ll head to Australia for a string of co-headline dates with Northern Irish indie heroes Two Door Cinema Club and next summer McKenna will join Imagine Dragons on their stadium run through Europe, his biggest ever venues. The final date will arrive at his beloved soccer team Tottenham Hotspur’s Spurs Stadium in London. “I feel very lucky as that is a dream gig,” McKenna says.
Next step in his journey as an independent artist is to increase the speed of releases. He says he’s still “hoarding” music that he’s keen to share, something that falls squarely on Miniature Ponies’ label boss: himself.
“I’ve always spearheaded what I’m doing and who I’ve worked with creatively, but there’s a different layer to it now where I don’t have someone looking over my shoulder,” he concludes. “It’s a freeing thing.”
Neon Gold and Avenue A Records have joined together to create Futures Music Group, a tech-forward collective of indie labels with an artist-first mentality.
Distributed through Virgin, Futures was co-founded by Neon Gold’s Derek Davies (Charli XCX, Tove Lo, Marina & The Diamonds, Passion Pit, Matt Maeson) and Avenue A’s Dave Wallace (Barns Courtney, Blossoms, Palace, Self Esteem) in early 2024. When the label group’s first release as Futures, “Home” by Good Neighbours, quickly went viral in January, the song quickly put the band on the map and served as a proof-of-concept for the Futures model. Perhaps the biggest debut single by any artist this year, “Home” was certified platinum in less than nine months.
The Futures roster also includes Phantogram, The Knocks, Barns Courtney, Palace and Mt. Joy, the latter of which was signed through a joint venture with the band’s own Bloom Field Records. (Good Neighbours first EP, including “Home,” are also through Futures until the band’s deal with Capitol/Polydor kicks in January 2025).
Trending on Billboard
Over time, Futures Music Group will grow to include more indie labels (and artists) under its umbrella. It also intends to build an internal team for digital marketing, sync licensing, sales, content production and more that can be shared between the individual labels.
At Futures, artists are signed to license-based deals, keeping master ownership in the artists’ hands, and the royalty split is kept equitable between the label and artist. In some instances, the split moves further into the artist’s favor after certain profit thresholds are met. This allows for what Davies calls “maximum incentive alignment” between both parties, and it rewards the artist for success.
The deal terms and options are “shorter and less onerous than most competitors,” Davies adds. “Our thing is if we do a great job, then we hope people will just keep rolling through and working with us,” says Wallace. “Keeping artists happy is the name of the game. We don’t want to work with an artist who is only working with us because of a contract. There are not many successful record campaigns that come out of a relationship where the artist is unhappy,” adds Davies.
The company also wants to do right by songwriters. The label group has pledged from now on to give points on every master to any non-producing and non-performing songwriter from the label’s share. (Exact deal points for this are handled on a case-by-case basis).
Along with their commitment to artists, Davies and Wallace of Futures have also spent the last few years studying and investing in how new technology will disrupt the music business. Davies, for his part, co-founded the start-up Medallion, which helped artists like Santigold, Greta Van Fleet, Tycho and more build and own direct relationships with their most passionate fans using web3 technology. The co-founders have also been strategic investors in Big Effect, a digital marketing platform founded by Spotify and UMG alum Mike Biggane, and Notes.fm, a royalty management platform from Stem co-founder Tim Luckow.
“We believe the future of the music industry has never been brighter for artists and the independent sector,” says Davies. “The industry has reached what we believe to be the largest inflection point in the history of the label system, as we are moving into a new music economy that is rightly trending towards artist ownership. We believe there’s a meaningful opportunity for a well-financed and resourced label group with a proven track record to deliver major results for artists on indie terms, which is what we’ve set out to build with Futures.”
The founding team includes: Davies (co-CEO), Wallace (co-CEO), Sarah Kesselman (CMO, general manager), Nicky Berger (COO) and Jeff Lin (CFO).
2025 marks the 20th anniversary of the acclaimed indie film Garden State – and on March 29, a star-studded celebration will take over the Los Angeles’ Greek Theater. Explore See latest videos, charts and news See latest videos, charts and news Nearly every artist featured on the Grammy-winning soundtrack – including The Shins, Iron & […]
Last week, rising British pop acts Rachel Chinouriri and Cat Burns released the emotional new single “Even.” The song addressed the pair’s respective rise over the last few years. Chinouriri released her debut album What A Devastating Turn Of Events in May and enlisted actor Florence Pugh for the “Never Need Me” music video; Burns, meanwhile, hit No. 2 on the U.K. Singles Charts with “Go” and was nominated for a Mercury Prize for her debut LP, Early Twenties.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
The song speaks to the double standards Black artists are held to in the U.K. music industry, as well as the mislabeling of their releases. Despite their love of indie music and varied inspirations across genres, they’ve been frustrated with the battles they’ve faced to be heard.
Trending on Billboard
“Wish I didn’t have to climb twice as high / For them to see me, isn’t it crazy,” Burns reflects on “Even,” while in the chorus, the pair asks: “We talk the same, dress for fame / Why does no one else believe in / Us the same?”
Fellow British artist Master Peace – real name Peace Okezie – is credited as a songwriter on “Even” and knows the issues all too well. He released his debut album, How To Make A Master Peace, earlier this year, which featured contributions from alternative legend Santigold and dance producer Georgia. The record was infused with indie rock stylings and nods to Bloc Party and The Streets, but he says he still faces misrepresentation of his music and feels some opportunities have passed him by.
“We are from a place where we have to work a hundred times harder than the average white guy, because people see as Black artists and just chuck us in the R&B space. It’s a cop-out,” Peace tells Billboard.
In 2020, Tyler, The Creator spoke out against the categorization of his music as rap while collecting a Grammy Award and criticized the use of the ‘urban’ music category. There’ve been similar issues in the U.K. A 2021 study by Black Lives In Music reported that 63% of Black music makers had faced racism in the U.K. music industry, and included testimonies by artists of microaggressions and mislabeling of their music.
“For the work that we’ve put in, we should be further than we already are,” he says of Chinouriri, Burns and himself. “You can easily fall victim to it and think ‘it’s never going to work because there’s no Black U.K. pop stars,’ or you could be like us and step up and cut through.”
How to Make A Master Peace was released in March this year and charted at No. 30 on the U.K.’s Official Album Charts. He’s since landed an Ivor Novello Award for their rising star trophy, collecting alongside fellow ceremony winners like Bruce Springsteen. He supported Kasabian at their massive homecoming show in Leicester, England, earlier in the summer and recently landed a nomination at the Independent Music Awards (AIM) in the best music video category. A run of live dates is now taking place in the U.K., but he still feels like people within the industry and potential listeners need convincing of his credentials.
“On paper when you look at all the achievements you think ‘why would he complain?’”, Peace says. “I wouldn’t say I feel like an outsider in my scene, but do I feel like I’m held up the same way as certain bands or artists? Probably not.”
He signed to Universal’s EMI in 2020 and had a string of releases under the label. He says that hype around his live shows – particularly given the lack of releases – was what got the majors involved. “As a result,” he says, “people had nothing to reference [my music] to” beyond a YouTube freestyle which saw him creatively rap over a-ha’s “Take On Me.”
When his A&Rs left EMI, he followed them and inked a deal with PMR Records, whose previous success stories include Disclosure, SG Lewis and Jessie Ware.
“At EMI it was about dropping tunes, but I don’t think they understood what we wanted to build; maybe at the time I didn’t even understand.” He started again from scratch as an independent artist, but refined his direct, party-starting sound and continued collaborating with songwriters and producers like Julian Bunetta, who has credits on Sabrina Carpenter’s “Espresso” and her 2022 single “Nonsense.”
His album’s release dovetails with the ‘indie sleaze’ hype in recent years, a moment where younger fans on have revisited works by the Yeah Yeah Yeahs, The Strokes and more, and been enraptured by Lizzy Goodman’s Meet Me In The Bathroom oral history and documentary. “Where I’ve come from and my background, I’ve always been in fight-or-flight mode. I’ve always wanted to take a leap and risk things,” he says. “It was a big risk making an indie sleaze-inspired album when no one knew about what that was all about.”
Now Peace is keeping the momentum up with How To Make A(nuva) Master Peace, a new EP that acts as a deluxe record to his debut. “Dropping the album when I did got me so many amazing opportunities, so I want to keep it up,” he tells Billboard.
But most of all, he wants the music world to recognize his work and what his contemporaries are doing without stereotyping. “I’m a Black, alternative artist that makes pop music and sits in that space. I want to be that guy who people look at and think, ‘His thing is valid’.”
The Leeds, England-based English Teacher released its debut EP, Polyawkward, in 2022, and its first album, This Could Be Texas, in April. So it surprised even them that they sold out New York’s Bowery Ballroom in June — on a Monday, no less.
Explore
See latest videos, charts and news
See latest videos, charts and news
Frontwoman and lyricist Lily Fontaine and lead guitarist and producer Lewis Whiting chalk it up to relentless touring, which has honed the band into a tight unit that melds Radiohead-style guitar and synth sonics with hard funk flourishes and elegant melodies that showcase Fontaine’s literary lyrics about place, identity and broken relationships. (The quartet has actually been playing together since 2018 when they were a very different dream pop band called Frank.) At the Bowery Ballroom, Fontaine’s electric stage presence also galvanized the crowd, as she paced the stage and alternated between rhythm guitar and synth.
English Teacher ‘This Could Be Texas’
Courtesy Photo
English Teacher’s road work and original sound resulted in This Could Be Texas garnering stellar reviews and a Mercury Prize nomination this year. At the end of August, they continued their momentum with a new EP, English Teacher: Live From BBC Maida Vale — which includes covers of Billie Eilish‘s “Birds of a Feather” and LCD Soundsystem‘s “New York I Love You But You’re Bringing Me Down” — and on Sept. 15, they return to the road, playing a slew of dates in North America and Europe.
Trending on Billboard
Fontaine and Whiting (briefly) Zoomed in from the United Kingdom to talk about the band’s success, the origin of its name, its songwriting process and its plans for the future.
You’re a very tight band. Is there a lot of practice involved?
Whiting: Less than you think.
Fontaine: We’ve been on tour for at least the past four or five months, and we’re about to start up again. We don’t really have time to practice because we’re playing the set over and over again.
That’s practice of a sort. I do think that strong live shows are crucial to building a fan base. Lily, you’re riveting onstage. Were you influenced by any other artists in terms of stage presence.
Fontaine: It’s not really a conscious thing to be honest. I’ve been doing it for such a long time — 10 years — that I feel quite confident now on stage. I also think that being a music fan, the affectations of people that I have enjoyed slip in with my stage personality.
How did the band’s name come about?
Fontaine: Ugh.
Whiting: It was a name Lily came up with quite a while back. There are different ways of looking at it. Like, a lot of our family members we’re English teachers and it’s a bit of a connection.
Fontaine: Now, I like the idea of what an English teacher is. We go to so many different countries, and the English language is so prevalent— people do speak it everywhere now — that people sometimes resent it. I hate the name, but also I like the idea of an English teacher being perceived negatively or positively depending on which country you’re in.
How did you all get signed to Island UK?
Fontaine: It was baby steps.
Whiting: Yeah. We’d gotten some support slots, Our guys were floating about. Nothing happened for a long, long time after that. They must have been aware of us and then yeah, the EP came out, we started to play more and they started sniffing around a little bit more.
A number of bands are striking deals with labels that enable them to keep their masters. Was that something you did?
No. It was like a split. We have a percentage.
What are the best and worst parts of touring?
Whiting: The best parts are being able to travel to places and play music that we’ve written to people who don’t know it as well. That’s the best bit, and then I suppose all the rest of it is the bad bit. The traveling is taxing for sure.
The price of touring has ratcheted up, which particularly effects indie bands. What has your experience been?
Fontaine: We don’t really make money. We only ever break even or lose money.
Regarding the title of your album, This Could Be Texas, you could have chosen any state or city here. Why Texas?
Whiting: It must have been in our minds subconsciously because it had just come up on the news about [us playing] South by Southwest. I think it was the best descriptor for where we stood. It was a really hot day and we were at a car park. At first it was a bit of a joke phrase, but then it morphed and attached itself to the song, which is about the process of writing the album. Then it became us saying this should be the title for the album. It wasn’t a sorted-out thing from the start. It just kind of presented itself.
Lily, on “The World’s Biggest Paving Slab,” you sing, “I’m the world’s biggest paving slab, and the world’s smallest celebrity.” Can you give me some context behind that?
Fontaine: I grew up in Colne, Lancashire, and outside the town hall there’s a giant paving slab and that’s one of the town’s local celebrities if you will. The song is about exploring this great display and not necessarily ever leaving the town. It’s a juxtaposition of exploring feelings of grandeur and feelings of self-deprecation.
There also seems to be a little bit of, “Don’t tread on me.”
Fontaine: Yeah, definitely. I think that’s the grandeur element.
Do you and the rest of the band write songs collaboratively?
Fontaine: It’s different every time. Sometimes, one of us will come in with a song quite finished and sometimes just a bit of poetry and a riff come together. Sometimes it’s separate songs. Sometimes it’s all together. It’s different. We like to work like that. So far, it’s been all right.
Whiting: It’s a quite chaotic approach. It’s kind of just throw things together.
Another standout song on the album is “R&B.” On it, you sing, “Despite appearances, I haven’t got the voice for R&B.” Is that subtext about expectations of you as an artist because of your skin color?
Fontaine: The whole song isn’t about that, but part of it is. At the time, I had writer’s block and the only thing I could come up with in my head was a melody for an R&B song. I thought that was so ironic because that is the genre that people always assume that I make when they look at me. Not always, but there’s been times when we meet another musician, and the look on their face is a big shock when I say that I make guitar music.
You come from a mixed-race family?
Fontaine: Yeah, my dad’s side of the family are from Dominica in the Caribbean and my mum’s just I don’t know, England I guess. They’re both British.
Now that Kamala Harris is a presidential candidate, race issues are at the forefront of the campaign. I don’t know if it made news in the U.K., but Donald Trump made headlines here when he said that Harris only recently had decided to identify as Black instead of Indian. Is that kind of racism familiar to you?
Fontaine: Definitely. It’s so funny because it depends on who you’re with. It depends on how Black you are, how white you are. So, if I’m with my white friends, then I’m the Black one, but if I’m with my Black family I’m the whitest person in the room. Race is fluid in a sense — and what a prick [Trump] is. Sorry.
Are you following the presidential race here?
Whiting: I’m following it closely. Biden dropping out was an extremely good call. I can’t say I knew a crazy amount about Harris before this, but I like following American politics. I’m an avid American politics podcast listener.
Fontaine: I don’t have as much knowledge of [politics] as Lewis because I don’t listen to any podcasts or anything. I’m glad that Biden dropped out. I think that was an obvious decision. We’re going to be in the U.S. when the election is happening, so it will be an interesting time to be there.
Lily, the lyrics to “Broken Biscuits” are quite powerful and sound very personal. Is there an autobiographical element to it?
Fontaine: That’s probably the most personal song on the album actually. Yeah, it’s really personal. There’s this John Cooper Clarke poem, “Evidently Chickentown,” that has a lot of repetition, and I wanted to see how many different ways I could use the word “broken.” Then I was seeing how I could use all those different ways to relate to things in my life that were broken or that have been broken.
There are references to all sorts of things: breaking in shoes and broken homes, but also “Smithereens,” which is a Black Mirror episode and the show’s creators [Charlie Brooker and Annabel Jones] call their company Broke and Bones, which I use in the lyrics. There’s lighthearted stuff in there as well. It’s not all sad. But a lot of it is quite dark actually.
Do you come from a broken home?
Fontaine: That’s me. Yeah, my parents split up when, I don’t know — maybe I was like one. It was when I wasn’t conscious, which is a blessing probably.
I noticed that the band worked in more melodies on This Could Be Texas than you have on prior work. Has that been a natural progression?
Fontaine: That’s probably because when we were writing the first EP and some of those earlier songs. I was listening to more post-punk. That was the time of the post-Brexit, post-punk resurgence in the U.K., and I was quite influenced by that. That trend wore off, and I was listening to a lot of classic songs — not classical music. I’m coming to music as a singer, and I felt it was just natural that I would probably go back towards that eventually.
At the end of August, English Teacher put out a live EP that includes covers of Billie Eilish’s “Birds of a Feather” and LCD Soundsystem’s “New York I Love You But You’re Bringing Me Down.” Why did you choose those?
Fontaine: LCD felt natural, because we all really like them, especially that song. I think it felt like a song that we could tackle given the instruments that we had at our disposal. With “Birds of a Feather,” we were asked to do a cover for BBC Radio One which is as you probably know is more of the pop end of the spectrum. So, we looked at what had come out recently — and my boyfriend said, “You should do this song.” We listened to it together, and I was just crying. I found it really moving, and I was like, “I want to do this.” We put it together in a day, and it felt right.
Are you working on the next album?
Fontaine: Yeah, we’ve got a few songs written actually. It seems like it’s come around so fast. Yeah, I’ve got ideas of the concept for it and everything.
Can you share the concept?
Fontaine: It’s too early to say really, and it’s not entirely up to me. But I don’t think I would want to put out a body of work that didn’t have some kind of unifying aspect to it. It happens naturally when you pull everything together that something connects it. It’s not exactly a concept album but always a bit of a through narrative. Thematically, it will probably be a sadder and darker album.
You are clearly into literature, poetry and media. Is there anything that has your attention these days?
Fontaine: Yeah. I’m going through a big phase with Octavia Butler, the science fiction writer. I’m obsessed with her and I just finished the second of two of her books. I’ve immediately ordered the next one because I want to read it whilst I’m still in that world.
She’s my focus at the moment. I’ve been watching The Bear. I think it’s amazing. The writing is brilliant, and the acting is so realistic that it’s kind of scary that people can act but also be so human at the same time. I love food as well so it’s a good one.
In August 2022, Allison Crutchfield, an A&R executive at ANTI- Records, traveled to Asheville, N.C., on a mission to sign the rising singer-songwriter known as MJ Lenderman. By year’s end, Crutchfield succeeded — and had also joined his tight-knit circle of friends.
“I’ve never had a meeting with an artist where they’ve been like, ‘Just come over and we’ll have a barbecue, we’ll just drink beer and eat,’ ” recalls Crutchfield, who got to know Lenderman at the property where he was living with several others, including members of the ascendant alt-country group Wednesday.
At the time, Lenderman had just released his breakthrough album, Boat Songs, a collection of detailed vignettes set to fuzzed-out country-rock riffs, on independent label Dear Life Records. And the 25-year-old hasn’t slowed down since: In late 2023, Lenderman made his ANTI- debut with his acclaimed live album Live and Loose!; in early 2024, he hit the road with Wednesday, for which he sings and plays guitar; and in March, Waxahatchee (fronted by Crutchfield’s twin sister, Katie) released her lauded album Tigers Blood, for which she invited Lenderman into her small creative circle. Lenderman made his Billboard chart debut, on Adult Alternative Airplay, with his feature on that set’s aching lead single, “Right Back to It,” and performed it alongside Waxahatchee on The Late Show With Stephen Colbert.
Trending on Billboard
As Lenderman’s profile grew, he was assembling Manning Fireworks, which is set for release Sept. 6 and his first studio album for ANTI-. “It was kind of strange,” he says when reflecting on the whirlwind that accompanied becoming one of indie rock’s most heralded new artists. “I guess it was more of an obstacle of making the new record — just trying to figure out how to not think about that and make a record like I would before.”
For Lenderman, that wasn’t so long ago. A child of music lovers — “My dad was a Deadhead,” he says, detailing the Derek Trucks and Gov’t Mule shows he saw as a kid growing up in Asheville — Lenderman began playing guitar in early grade school and eventually gravitated toward indie and punk music as a teenager playing in bands around his hometown. Soon he began recording, and the pandemic afforded him more time to complete 2021’s Ghost of Your Guitar Solo and, eventually, Boat Songs.
When Lenderman’s manager, Rusty Sutton, passed along a Boat Songs promo to Crutchfield, she knew she had to sign him “probably 10 seconds” into its opening song. “In a medium like indie rock,” she explains, “where there really is only so much you can do, for someone to do something where they’re honoring the tradition of this type of music but to do it in a way that does totally feel refreshing and like something that we haven’t heard, it’s really exciting.”
Lenderman is heavily influenced by Neil Young — “I can trace back most bands that I like to Neil,” he says, citing the rock legend’s scuzzy mid-’70s phase — and he also counts Drive-By Truckers, Dinosaur Jr. and Will Oldham as key touchstones. But his music has connected with younger audiences thanks to its modern sensibility and the way it careens from absurdist humor to deep, sometimes dark, profundity. (One new song, “Wristwatch,” is an ode to loneliness where the narrator notes that he’s “got a houseboat docked at the Himbo Dome.”)
“Obviously, my real life is going to bleed through a little bit, but I try to keep it more from a third-person perspective,” he says. “I feel like that opens more possibilities — and it’s kind of more fun writing fiction.”
[embedded content]
For Manning Fireworks, recorded whenever he could find time between tours, Lenderman followed a familiar approach, reuniting with producer Alex Farrar at Asheville’s Drop of Sun Studios, where he has recorded tracks several times before. But the album, which expands Lenderman’s country-rock creative palette without losing its signature wit or intimacy, is far from a redux.
“I want my records to be dynamic,” Lenderman says. “For a while, I was trying to maybe take it up a notch and go louder or faster or something — and then that just really wasn’t where I was at. So I decided to go in the opposite direction and make it more acoustic and quieter.”
On Manning Fireworks, Lenderman does a bit of both. The music has never sounded richer, with fiddle and brass bolstering his guitar, but he also explores the flip side, like on album closer “Bark at the Sun,” which ends Manning Fireworks with a multiminute noise outro driven by “bass clarinet abuse drone.” While Lenderman “couldn’t tell you why” he made the creative choice — “it just felt right to me” — it’s indicative of his growth. “There’s a level of confidence coming from [him] at this point that feels different from Boat Songs,” Crutchfield says. “This is a person who is unbelievably talented and now understands how to wield that.”
Not that the eternally nonchalant Lenderman would ever describe his intuitive choices so grandly.
This story appears in the Aug. 24, 2024, issue of Billboard.
At least half a dozen independent music distributors are fundraising or exploring selling their businesses as investors and major music companies, including Warner Music Group, vie for a piece of the business sector serving DIY artists.
Stem, the indie distribution darling that started as a fintech platform offering royalty splits, is in the early stages of a fundraising round that will be its largest to date, while Larry Jackson’s gamma. concluded its second round of fundraising. Downtown’s board of directors is exploring a sale and has held talks with Believe after an earlier dialogue with WMG fizzled. (Sources say WMG continues to eye acquisition targets.) ONErpm aims to put together around $40 million next year for its own mergers and acquisitions (M&A) fund, and indie streamer/distributor SoundCloud is expected to move into the final stages of either a sale or fundraising round later in 2024 to replace some of its existing shareholders.
Already this year, Believe founder and CEO Denis Ladegaillerie bought 95% of the outstanding shares of the French music company with roughly $1.7 billion in backing from investors that include TCV and Swedish private equity firm EQT in order to take the company private. And the Chicago-based firm Flexpoint Ford bought a stake in Create Music Group for $165 million. Last year, Exceleration Music bought indie distributor Redeye for an undisclosed sum, and gamma. launched with a $1 billion war chest.
Trending on Billboard
Indie executives say there are numerous factors pushing them to seek funding; among them are the growing influence of artificial intelligence in music-making and next-gen creators’ evolving feelings about independence. Some would rather take a big check from a major if it comes with guaranteed autonomy — which means indie distributors must achieve scale to survive.
Meanwhile, these indies’ collective share of the market is growing, prompting major music companies to make acquisitions and investments as a defensive play. And backers outside the music industry, such as private equity funds and institutional investors, see opportunity in betting on these companies that purport to have the pole position serving the music-makers of tomorrow. Non-major labels and self-releasing artists’ share of the global recorded-music market was 36.7% in 2023, up from 28.6% in 2015, according to MIDiA Research.
“The amount of money being thrown around right now is more than I’ve ever seen,” Stem co-founder and CEO Milana Rabkin Lewis says. “If you’re not out there fundraising right now, you’re not doing your job.”
Another reason to invest: Indie distribution companies are handling an increasing share of the songs that do best on streaming services. In the first half of 2024 in the United States, such companies were responsible for 13.6% of tracks played between 100 million and 500 million times and 22.1% of those played between 50 million and 100 million, according to Luminate.
That said, the indie digital distribution sector remains highly fragmented, and executives say they expect significant consolidation as the roughly 25-year-old segment of the music industry matures.
“You’ll see a lot of DIY distributors sell over the next six months,” says Greg Hirschhorn, CEO of Too Lost, an indie distributor that Hirschhorn says distributes music for over 300,000 artists and labels. “It’s a good time to run an indie distributor.”
Earlier this year, French securities regulators forced WMG to disclose it was considering making a $1.8 billion bid for Paris-based Believe. Warner CEO Robert Kyncl has said the company backed out before making a formal offer because of the brief amount of time it had to undertake due diligence for the deal, among other reasons.
The consortium of investors led by Ladegaillerie ultimately succeeded in taking Believe effectively private this summer, leaving WMG and others that bid on the company, like BMG, hunting elsewhere for acquisitions. Sources say WMG’s decision not to submit an offer for Believe may lead to more deals in this space.
Downtown has been a beneficiary of that fallout. Its chief investor, the family of late New Zealand beer baron Douglas Myers, has been mulling an exit for months. The company’s board has held exploratory talks with WMG and Believe, among others, according to sources.
Downtown declined to comment about any deal talks, but executive chairman Justin Kalifowitz says the current spate of deals is a natural next step resulting from the significant amount of investment dollars that flowed into music-related businesses between 2018 and 2022.
“A lot of cool ideas were born out of that. Some of them have grown up to be real companies, achieving scale but not profitability,” Kalifowitz says. “There is an efficiency that these businesses in the services sector are providing that is frankly not available at the majors.”
A significant portion of outside investment that flowed into music in recent years went to acquire song catalogs, which indie executives point out provide more stable, though lower, returns than active companies. Private equity funds controlled by banks like Goldman Sachs are warming to music companies, one executive says. “You could buy an asset and forecast it 20 years into the future. But in a music world, that’s really hard,” the executive says. “They realize that music acts like an annuity.”
ONErpm CEO Emmanuel Zunz says the indie distribution space is facing an inflection point in its maturation driven by more than investment and deal-making. Moments like this put pressure on companies that may have loads of debt or aren’t profitable to prove their business makes sense. Zunz estimates the company he founded roughly 15 years ago now ranks third, behind Believe and Downtown, among the largest full-service independent music companies. ONErpm, which has no debt and operates off its own earnings, is planning to put together a $40 million M&A fund next year to buy smaller companies around the world.
“It’s going to be interesting to see how it plays out over the next two to three years,” Zunz says. “Some folks are going to crash and burn. There’s going to be consolidation. But the ones that stay are going to have a compelling offer that provides a lot of value for artists.”
Additional reporting by Elias Leight.
Australian indie-pop singer-songwriter Gretta Ray has provided an update on her health, announcing the cancelation of all her remaining 2024 shows to focus on her recovery from a serious heart infection.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
Earlier this month, Ray revealed she was hospitalized in London due to an unknown illness, with the news prompted an outpouring of support from fans worldwide. On July 16, she took to Instagram to thank her followers and shed light on her situation.
“I’m overwhelmed by the outpouring of love on my latest post, you are all so incredibly kind and it really means the world to me, thank you x,” Ray wrote.
Trending on Billboard
“I wanted to clarify that luckily I’m not having to deal with this experience on my own – due to the seriousness of my condition my family are here in London taking care of me I am in good hands here in a really good hospital. Just taking it day by day. Lots of love.”
On July 30, Ray updated her fans again, revealing her diagnosis of infective endocarditis, a severe heart infection.
“I wanted to let you know that the sickness I am recovering from is a rare disease called infective endocarditis – a severe infection in the heart that for me, caused a multitude of distressing repercussions,” she explained in her Instagram post.
“It happened very suddenly and frighteningly, and as a result, took a moment to be diagnosed. Nonetheless I am so, so lucky that I caught it early, and landed in such a great hospital here in London that took amazing care of me. I was then transferred to a second hospital – one that is famous for dealing with this particular disease.”
Ray confirmed that she will need surgery due to the impact on her heart, but for now, she is focusing on regaining strength after completing a long course of intravenous antibiotics and being discharged from the hospital.
“The toll this has taken on my heart means that at some stage I will need to undergo surgery,” she continued. “For now, it’s been a week since I finished a long course of intravenous antibiotics, and two weeks since I was discharged from hospital. Due to the fact that I am stable, the doctors have encouraged me to spend time regaining some strength and immunity outside of hospital.”
Although she is still dealing with some complications, Ray expressed relief at being able to enjoy the world outside the hospital.
“While I’m still dealing with some complications, it’s already been healing being back out in the world… I just take it one day at a time (my mum is also still in London with me x),” she wrote.
All dates are off for the foreseeable future, including her appearance at BIGSOUND 2024.
Ray concluded her update by expressing her gratitude for her fans’ unwavering support, saying, “I know I will be telling this story in more detail when the time is right, but for now I’m processing the trauma and taking things slowly.”
“I can’t tell you how much your kind and thoughtful messages and comments have meant to me in this challenging time, I’m so grateful… sending all my love to you from London, and we’ll speak soon.”
After LANY completed its four-album deal with Interscope early last year, the Los Angeles pop-rock duo decided to be an independent act.
“You’ve built your career on a major [label] model, and you’re like, ‘We’ve got what we’re going to get out of the system – let’s get back some control,’” says Rupert Lincoln, the band’s manager.
LANY had a big following, and multiple streaming hits, including 2018’s “Malibu Nights,” which has more than 403 million Spotify plays, and the 2020 album mama’s boy, which hit No. 7 on the Billboard 200. But without a label, the band needed help – and money – to market music and shows to its fanbase.
So Lincoln and the band talked with some of the many distribution companies now vying for independent artists’ business with advances and marketing services. They selected Stem Disintermedia, founded nine years ago by United Talent Agency veteran Milana Rabkin Lewis and which a year ago secured $250 million in credit for artist advances from Victory Park Capital.
LANY self-financed a new album, last year’s a beautiful blur, with help from Stem and Virgin Records, its label for international territories. The band made a deal with Stem to handle marketing and promotion. “Stem made an investment,” says Seth Faber, the distributor’s general manager, adding that LANY took “a few advances along the way to fund different aspects of the project.” Stem set up a TikTok marketing campaign, taking advantage of the social-media giant’s commercial music library, which allows new and indie artists to make their tracks available for brands to use in video clips. Then Stem and Lincoln pooled their radio connections and pushed “XXL” onto iHeartMedia and SiriusXM playlists.
Trending on Billboard
Stem launched a TikTok campaign, and fans shared footage from the band’s fall tour in Asia, helping “XXL” hit No. 46 on the TikTok Billboard Top 50 last September. Then the company took the track to radio — “shook hands, kissed babies,” according to Faber — and peaked at No. 26 on Pop Airplay in February. “Considering what we were going up against, major labels and their pockets, it’s a pretty good magic trick to pull off,” Faber says. The band performed on Jimmy Kimmel Live! and Today in the fall, and its U.S. spring tour was in clubs and theaters. “XXL” has 14 million Spotify plays and more than 3 million YouTube views.
“The splits are very favorable with Stem,” says Lincoln. “We felt incredible support from the top down.”
Stem began as a typical indie distributor, helping artists to put out physical and digital music and seeing to it they received their streaming revenue. After working with top indie artists and labels, from Frank Ocean for his Blonde album to Big Loud Records, home of Morgan Wallen, Stem pivoted to a new model in 2020, emphasizing advance artist payments; last year, it spun off a new company, Tone, to “modernize the music industry’s financial infrastructure,” as Lewis said earlier this year.
Stem is one of many indie distributors that does not require artists to give up long-term rights to their master recordings in exchange for advance payments — DistroKid, CD Baby, Create Music Group and Secretly Distribution operate a similar way, simplifying the process of putting artists’ music out and helping to arrange timely royalty payments. But what distinguishes Stem, according to Faber, is the ability to “add value” to artist deals by emphasizing major-label-style promotion and marketing campaigns. Instead of distributing numerous artists, Stem selects acts, like LANY, who have track records of sales success and potential for high-quality new material.
Using this model, Stem works with indie labels such as Quality Control and artists such as R&B singer Brent Faiyaz, who received eight advance Stem checks to make his album Wasteland. Artists signed to Stem borrow what they need for music videos or digital-marketing campaigns, negotiating terms as they go along. “Now that we have the bandwidth to focus on a lower volume of more meaningful acts, all these acts get the human touch,” Faber says. “Our approach requires artists that see the big picture and are not just chasing the largest check that they could find — and are looking to make smart and calculated investments in themselves.”
Jim Caparro, a former Warner and Island Def Jam CEO who ran Polygram Group Distribution in the ’80s, says most artists don’t need a major label or even a major distributor, such as Warner Music-owned ADA or Universal Music-owned Virgin Music Group, to serve their fanbase with new music and social-media marketing. Artists like LANY, who’ve established themselves on major labels, simply need up-front money for recording projects and radio connections.
“It’s a matter of advances: Who can write the biggest check?” Caparro says. “Artists can do it themselves. They really don’t need all those partners to share their royalties with.”
Lincoln, who runs Hills Artists in Los Angeles and London, praises Stem for giving LANY a pathway to radio connections, including top execs at iHeartMedia and SiriusXM, which will undoubtedly be useful for future single releases. He also emphasizes that Stem’s success with LANY is due to a collaboration between the distributor and the management company. “It’s been a really great partnership so far,” he says. “Autonomy is the future of the business.”
It’s 9 p.m. on a Wednesday evening in Miami, and Ty Baisden is still taking care of business with an energy level that belies the hour.
“I’m a firm sleeper who gets my eight hours,” says Baisden, his Georgian drawl giving way to laughter. “But what I don’t do is the bulls–t. So subtract the bulls–t, and you’ve got a lot of time to work and a lot of time to rest.”
That philosophy has anchored Baisden since he broke into the business as a manager in 2008. During that time, the native Atlantan also closely observed successful creative/business partnerships including Disturbing Tha Peace Records with Ludacris and Chaka Zulu and Grand Hustle Records with T.I. and Jason Geter.
Given the tenuousness of most manager-artist relationships, Baisden wanted to apply that collaborative model to the right act. “I was like, ‘I’ve got to find an artist that will want to partner with me where they deal with all the creative and I deal with all the business. Then we can build a company together, and we’ll be protected because the company is our protection.’ ”
In 2014, he found an ideal artist-partner in Brent Faiyaz after discovering him on SoundCloud. “It wasn’t an easy thing,” Baisden recalls. “I had executives telling me, ‘Don’t partner with artists; that’s dumb.’ And I had artists thinking, ‘No, I’d rather do something with a major label.’ Brent was the first artist that really believed in the overall process of that kind of partnership.”
Trending on Billboard
Over the last nine years, the business alignment between Baisden’s firm COLTURE — an acronym that stands for Can Our Leverage Teach Us Real Equity — where he is head of ventures and innovation — and Faiyaz’s Lost Kids label has yielded several successes. Among them: Faiyaz’s 2020 EP, F–k the World, bowing at No. 20 on the Billboard 200, followed by his momentous No. 2 debut with second studio album Wasteland — against Bad Bunny’s multiweek No. 1 juggernaut Un Verano Sin Ti — in 2022.
Then in 2023, Faiyaz’s F*ck the World, It’s a Wasteland Tour grossed $5.3 million and sold 68,000 tickets over 18 shows, according to Billboard Boxscore. Separately, in 2023, he launched his own creative agency, ISO Supremacy, in partnership with UnitedMasters. (Baisden is not involved.) ISO joined forces with PULSE Records in an artist development joint venture, and in May struck gold with genre-melding R&B singer Tommy Richman, whose “Million Dollar Baby” has spent two weeks at No. 2 on the Billboard Hot 100.
Splitting his time between Atlanta and Miami with a 22-member staff, Baisden, 40, works alongside COLTURE co-founder and head of creative services Jayne Andrew and partner Paris “PK” Kirk. The three are also co-founders and equity partners in COLTURE Holdings, which houses the firm’s nonmusic-related businesses.
“I don’t manage artists,” Baisden says of the business he has built with Faiyaz. “The skin that I have in the game is seeing another Black man be successful in whatever they want to do.”
Devin Christopher
What COLTURE accomplishment stands out over the last 18 months?
Our company vertically integrated and built Brent’s [2023] tour from start to finish. Usually, management will hire out for everything to get done. I partnered with Wasserman Music’s Callender to route it and negotiate the deals. Meanwhile, I handled the entire budget. Jayne handled all the band details, creative direction and making sure Brent felt comfortable onstage while PK handled all the lifestyle and afterparty events. And we each split time going to the different [tour stops] and booking the buses, freight and travel.
That’s not the job of managers, but we’re not managers; we build businesses. To build a business, you’ve got to manage the budget so you can determine your margin. Brent’s tour profited because we controlled every single dollar that was spent. I just think that’s very loud. So many people go out on the road and don’t make money. The artist gets paid, but when it’s time to do your balance sheet, you come out in the red. Many times, when you have other people managing a big lift, you’re going to get blindly overcharged.
How does the COLTURE partnership with Faiyaz and Lost Kids work?
Christopher Brent Wood [Faiyaz’s birth name] and I are business partners. When Christopher turns into the artist Brent Faiyaz and I’m operating on the latter’s behalf, then my job title is manager, for which I get a percentage. That’s probably the best way I can put it. We’re 50/50 partners in Lost Kids, under which we have multiple businesses. That was basically our handshake to one another in the beginning. Those projects and his tours are the financial seeds for Brent and me to go out and make individual investments. Lost Kids gave Brent the opportunity to invest in ISO Supremacy with his high school friend Darren Xu, and now they’re having a huge success with Tommy Richman. Beyond music and publishing, our biggest investments under Lost Kids involve real estate in Atlanta and Dallas and more than 20 startup companies, including Athletic Greens, Therabody, Audio Shake and Seed. And the great thing is three of those four companies — Seed, Audio Shake and Athletic Greens — are led by women.
Lost Kids also sponsors annual initiatives on behalf of female executives and entrepreneurs.
We just finished our fourth annual Show You Off grant program, giving 12 women $10,000 grants each to run their own business or launch a new idea. One of the policies of the grant is to reward Black women that are from the DMV [Washington, D.C., Maryland and Virginia] area. This year was a heavy one with new ideas involving STEM companies, [artificial intelligence] technology, electric batteries, etc. Thus far, we’ve donated about half a million dollars or more to Black women-helmed businesses.
What additional clients and businesses are under the COLTURE umbrella?
On the producer side, we have Nascent, who’s just finishing his project, Don’t Grow Up Too Soon, that we’ll distribute independently; Jordan Waré and Dpat, who have both worked with Brent. We have a partnership with [podcast] Million Dollaz Worth of Game to help [former rapper/co-host Gillie Da Kid] build out a music division. We’re doing their artist N3wyrkla’s first rollout with Troy Carter’s Venice Music. We collaborate as well with [pop duo] Emotional Oranges on distribution and creative direction when needed. Then, in the same kind of partnership I have with Brent, there’s Canadian female artist Kalisway, who writes and produces funk and R&B. Lastly, we’re helping actor Malcolm Mays [Starz’s Raising Kanan] launch his music career to diversify his business.
What’s the biggest issue facing the independent community right now?
An indie company can put out a song and the song can blow up, but more than likely, the company doesn’t have sufficient infrastructure to make sure everybody’s paid fairly based on their contributions to the record that just changed their artist’s life. The artist and the label are going to get big checks, but the songwriters and producers are probably going to get paid a year or two later, depending on how savvy their manager is — if they even have a manager.
Where do you envision COLTURE three to five years from now?
We have a 10-year plan outlining that parent company COLTURE Holdings will be generating $100 million in revenue by 2030. That’s the goal. Over the next three years, we’re launching our full-fledged media department, including TV, film, podcasting and digital content. The sports division is developing, and we’re continuing our real estate operation. We’re basically building a community and a pipeline for disrupters who can either stay within our ecosystem or build their own businesses.
Additional reporting by Shira Brown.
This story originally appeared in the June 8, 2024, issue of Billboard.