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LONDON — Hipgnosis Songs Fund has cut the value of its portfolio by more than a quarter and told investors that it does not intend to recommence paying dividends “for the foreseeable future” as it focuses on paying down debts.
The London-listed fund, which owns full or partial rights to the song catalogs of Red Hot Chili Peppers, Neil Young, Justin Bieber and Blondie, among many others, announced the updated valuation on Monday (March 4).
It follows a detailed review of the company’s portfolio “on a bottom-up basis” by Shot Tower, which was appointed following a public fallout between the firm’s board and its investment advisor, the Merck Mercuriadis-led Hipgnosis Song Management (HSM), over the fund’s worth.
In a financial filing, Hipgnosis Songs Fund (HSF) said Shot Tower’s preliminary report estimates the fair market value of the company’s portfolio at between $1.8 billion and $2.06 billion (and $1.74 billion and $2 billion after deducting contingent catalog bonuses of just under $60 million).
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Shot Tower gave a midpoint valuation of $1.93 billion, reflecting a multiple of 15.9x net royalty income, which is around 26% lower than the valuation of September 2023.
Hipgnosis Songs Fund said the new valuation was based on a range of criteria, including whether a catalog was made up of publisher, writer, producer or artist’s share of rights royalties. Shot Tower’s report also took into account royalty income streams and administration rights or copyrights due to be returned to the firm in future years, the fund said.
The firm’s cash net revenue (after third party royalty reductions and administration expenses) was $121.7 million for the 12-month royalty statement period ended June 30, 2023, according to Shot Tower’s analysis.
When adjusted solely for the new valuation, the company’s operative net asset value would be approximately $1.17 (92p) per share, compared to the last reported net asset value of $1.7392 (137p) per share at the end of September, the firm reported.
As a result of the decrease, the board said that it would be using free cashflow to pay down debt “and, therefore, does not intend to recommence paying dividends for the foreseeable future.”
In a statement accompanying the filing, Hipgnosis Songs Fund chairman Robert Naylor said the company’s newly constituted board “is making good progress with the due diligence work” underpinning its ongoing strategic review and that the board “remains focused on identifying all options to deliver shareholder value.”
Hipgnosis Songs Fund’s share price initially fell by 11% to £0.56 on Monday morning following the news.
The slashed valuation represents another blow for HSF, which underwent a turbulent end to 2023 and just-as-rocky start to the year.
In October, shareholders voted against the music royalties fund’s proposed $440 million deal to sell 29 catalogues to Hipgnosis Songs Capital – a partnership between investment giant Blackstone and the fund’s investment adviser Hipgnosis Song Management – citing the lack of an “up-to-date” valuation.
The same month’s annual meeting of shareholders also saw a majority of investors vote against a resolution “to continue running the fund in its current form” — a so-called “continuation vote” — commencing a six-month countdown for the board to come up with a plan “for the reconstruction, reorganisation, or winding-up of the company.”
That led to the installation of a new executive board with Naylor replacing Andrew Sutch as chairman, while last month shareholders passed a special resolution that authorizes the payment of up to 20 million pounds ($25 million) to prospective bidders seeking to acquire the fund’s assets. The fund hopes that the enticement of a large fee will help draw potential bidders to acquire some of the company’s catalogs.
February also saw Mercuriadis step down as chief executive officer of Hipgnosis Song Management to take up a newly created chairman role with Ben Katovsky replacing him as CEO.
Shot Tower is due to present its final due diligence findings to the firm’s board later this month.
Natascha Augustin, who was named managing director of Warner Chappell Music Germany in January, started at the company as a half-time intern, rotating among various departments. She didn’t yet know what she wanted to do, and when an executive asked her, “I said I wanted to be a bookkeeper,” she remembers with a laugh. “Because there were two old ladies there who every afternoon ate cake.”
“He said, ‘You are not a bookkeeper’ – he knew better.” So, she became an A&R assistant at Warner Chappell in Munich.
The way Augustin talks about music publishing in Germany – the only big country in which Warner Chappell is No. 1 by market share, with 27.8%, according to Official German Charts data – it’s actually hard to imagine her doing anything else. And aside from internships in New York at Matador Records and Beggars Group, and a short stint at Warner Chappell in LA., she really hasn’t.
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Augustin owes much of her success to the rise of German hip-hop – Deutschrap – now the country’s biggest genre by market share. Years ago, Augustin got a call from Farid Bang, a German rapper of Moroccan-Spanish descent, who asked her about a publishing deal. At the time, “German rap was the enfant terrible of the music industry,” remembers Augustin, sitting in the airy listening room of Warner Music Central Europe’s new Berlin headquarters, but “I met with him and his story was interesting – he had done it all himself.”
At a time when the genre was still dominated by imported American stars, indie labels and underground artists, Augustin went all in. “People would call him” – Bang – “and he’d send them to me,” Augustin says. “I just met them on an equal level.”
In 2010, Augustin was named head of A&R. (She was subsequently promoted to Senior Creative Director and then vice president.) Within a decade, Warner Chappell had the No. 1 market share in Germany. This implies an even more impressive record of success with German songwriters given that the company is No. 3 globally and gets less market share in Germany from global music than its competitors.
In some cases, Augustin says, she became “the main point of contact in the industry” for rappers that had independent label or distribution deals. But she also signed a number of major label stars, including Capital Bra, Luciano and Apache 207 – who, with iconic singer Udo Lindenberg had the No. 1 single of 2023, “Komet.” (The song was written in part by Apache 207 and the producer Sira, another Augustin signing.) In 2023, she signed the superstar Shirin David, who might be thought of as a Made-in-Germany Nicki Minaj. “Shirin was very influential,” says Augustin, who still lives in Munich but also spends considerable time in Warner Music Central Europe’s offices in Hamburg and Berlin. “She brought the American rap idea here for women.”
In 2021, Augustin also played a key role in launching Atlantic Records in Berlin as a label focused on German hip-hop – an unusual joint role in recorded music for a publishing executive. She leveraged her connections in hip-hop to sign Yung Hurn, DJ Stickle, and Lil Zey, among others, but with the hiring of an executive to lead Atlantic and Augustin’s promotion, she’s now free to focus exclusively on publishing. One priority for the year ahead is Ayliva, a young rap star who writes her own songs and was the second-most-streamed artist last year after Taylor Swift.
The European Union leveled its first antitrust penalty against Apple on Tuesday, fining the U.S. tech giant nearly $2 billion for breaking the bloc’s competition laws by unfairly favoring its own music streaming service over rivals.
Apple banned app developers from “fully informing iOS users about alternative and cheaper music subscription services outside of the app,” said the European Commission, the 27-nation bloc’s executive arm and top antitrust enforcer.
That is illegal under EU antitrust rules. Apple behaved this way for almost a decade, which meant many users paid “significantly higher prices for music streaming subscriptions,” the commission said.
The 1.8 billion-euro fine follows a long-running investigation triggered by a complaint from Swedish streaming service Spotify five years ago.
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The EU has led global efforts to crack down on Big Tech companies, including a series of multbillion-dollar fines for Google and charging Meta with distorting the online classified ad market. The commission also has opened a separate antitrust investigation into Apple’s mobile payments service.
The commission’s investigation initially centered on two concerns. One was the iPhone maker’s practice of forcing app developers that are selling digital content to use its in-house payment system, which charges a 30% commission on all subscriptions.
But the EU later dropped that to focus on how Apple prevents app makers from telling their users about cheaper ways to pay for subscriptions that don’t involve going through an app.
The investigation found that Apple banned streaming services from telling users about how much subscription offers cost outside of their apps, including links in their apps to pay for alternative subscriptions or even emailing users to tell them about different pricing options.
The fine comes the same week that new EU rules are set to kick in that are aimed at preventing tech companies from dominating digital markets.
The Digital Markets Act, due to take effect Thursday, imposes a set of do’s and don’ts on “gatekeeper” companies including Apple, Meta, Google parent Alphabet, and TikTok parent ByteDance — under threat of hefty fines.
The DMA’s provisions are designed to prevent tech giants from the sort of behavior that’s at the heart of the Apple investigation. Apple has already revealed how it will comply, including allowing iPhone users in Europe to use app stores other than its own and enabling developers to offer alternative payment systems.
The commission also has opened a separate antitrust investigation into Apple’s mobile payments service, and the company has promised to open up its tap-and-go mobile payment system to rivals in order to resolve it.
The 2024 Brit Awards – the U.K.’s equivalent of the Grammys – are unfolding at The O2 Arena in London. Dua Lipa was set to open the show, just as she opened the Grammy telecast on Feb. 4. Kylie Minogue, who will receive the Global Icon Award, is set to close the show.
RAYE led the nominations for this year’s Brits with seven nods, which made her the most nominated artist in a single year since the Brits began in 1977. Central Cee and J Hus each received four nods. Lipa received three. 2024 also saw the first Brit nomination for The Rolling Stones in more than a decade. The legendary band is nominated for alternative/rock act.
Clara Amfo, Maya Jama and Roman Kemp are co-hosting the ceremony, which is being broadcast in the U.K. on ITV1, STV, ITVX and STV Player. Fans outside the U.K. can watch the show via an exclusive YouTube livestream.
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For 2024, The Brits increased the number of nominees for both artist of the year and international artist of the year from five to 10, a change aimed at improving representation and inclusion. The Brits have a whopping 15 nominations in two categories – song of the year and international song of the year.
The British pop/R&B act category was split in two this year — British pop act and British R&B act. Winners in both categories, as well as the three other genre categories – alternative/rock, dance and hip-hop/grime/rap – were decided by a public vote via Instagram from Feb. 1-15.
In December, The Brits announced The Last Dinner Party as the winner of the 2024 Rising Star award.
RAYE won Songwriter of the Year. The two previous winners of that award are Ed Sheeran and Kid Harpoon, which makes RAYE the first woman to receive the honor.
Chase & Status are this year’s Producer of the Year winners. The electronic music duo, consisting of Saul Milton (Chase) and Will Kennard (Status), is also nominated for group of the year. They have produced not only their own releases, but the works of such other acts as Becky Hill, Rihanna, Rita Ora and Tinie Tempah. Chase & Status are the fourth multi-person production team to win Producer of the Year, following Stock Aitken Waterman (1988), Chris Potter, The Verve & Youth (1998) and Alan Moulder & Flood (2014).
Here’s the complete list of 2024 Brit Awards nominees, with winners marked as they are announced.
Mastercard album of the year
Blur, The Ballad of Darren, Parlophone/Warner Music
J Hus, Beautiful and Brutal Yard, Black Butter/Sony Music
Little Simz, NO THANK YOU, Forever Living Originals/AWAL
RAYE, My 21st Century Blues, Human Re Sources/The Orchard
Young Fathers, Heavy Heavy, Ninja Tune
Artist of the year
Arlo Parks, Transgressive
Central Cee, Columbia Records/Sony Music
Dave, Neighbourhood/Live Yours
Dua Lipa, Warner Records/Warner Music
Fred Again.., Atlantic/Warner Music
J Hus, Black Butter/Sony Music
Jessie Ware, EMI / Universal Music UK
Little Simz, Forever Living Originals/AWAL
Olivia Dean, EMI/Universal Music UK
RAYE, Human Re Sources/The Orchard
Group of the year
Blur, Parlophone/Warner Music
Chase & Status, EMI/Universal Music UK
Headie One & K-Trap, One Records & Thousand8/The Orchard
Jungle, Caiola/AWAL
Young Fathers, Ninja Tune
Best new artist
Mahalia, Asylum/Atlantic Records/Warner Music
Olivia Dean, EMI/Universal Music UK
PinkPantheress, Warner Records/Warner Music
RAYE, Human Re Sources/The Orchard
Yussef Dayes, Brownswood Records/ADA/Warner Music
Song of the year
“Miracle,” Calvin Harris/Ellie Goulding, Sony Music/Universal Music UK
“Prada,” cassö/RAYE/D-Block Europe, Ministry Of Sound/Sony Music
“Let Go,” Central Cee, Columbia Records/Sony Music
“Sprinter,” Dave & Central Cee, Neighbourhood/Live Yours
“Dance the Night,” Dua Lipa, Atlantic Records/Warner Music
“Eyes Closed,” Ed Sheeran, Asylum/Atlantic Records/Warner Music
“Who Told You,” J Hus Ft Drake, Sony Music/Universal Music
“Strangers,” Kenya Grace, Warner Music
“Wish You the Best,” Lewis Capaldi, EMI/Universal Music Group
“Boy’s a Liar,” PinkPantheress, Warner Records/Warner Music
“Escapism.,” RAYE ft 070 Shake, Human Re Sources/The Orchard
“Dancing Is Healing,” Rudimental/Charlotte Plank/Vibe Chemistry, Columbia/Sony Music
“Firebabe,” Stormzy Ft Debbie, #Merky Records/0207 Records/Universal Music UK
“REACT,” Switch Disco & Ella Henderson, Relentless Records/Sony Music
“Messy in Heaven,” Venbee & Goddard, Room 2/Columbia Records/Sony Music
International artist of the year
Asake, YBNL Nation/Pri.me
Burna Boy, Spaceship/Bad Habit/Atlantic Records
Caroline Polachek, Perpetual Novice/The Orchard
CMAT, CMATBABY/AWAL
Kylie Minogue, BMG Records
Lana Del Rey, Polydor/Universal Music UK
Miley Cyrus, Columbia/Sony Music
Olivia Rodrigo, Polydor/Geffen/Universal Music Group
SZA, RCA/Sony Music
Taylor Swift, EMI/Republic/Universal Music Group
International group of the year
Blink-182, Columbia/Sony Music
Boygenius, Polydor/Interscope/Universal Music Group
Foo Fighters, Columbia/Sony Music
Gabriels, Parlophone/Warner Music
Paramore, Atlantic/Warner Music
International song of the year
“What Was I Made For?,” Billie Eilish, Darkroom/Interscope/Polydor/Universal Music Group
“Daylight,” David Kushner, Miserable Music/Virgin Music Group/Universal Music Group
“Paint the Town Red,” Doja Cat, RCA/Sony Music
“Giving Me,” Jazzy, CHAOS/Polydor/Universal Music UK
“People,” Libianca,5k Records/Sony Music
“Made You Look,” Meghan Trainor, Epic Records/Sony Music
“Flowers,” Miley Cyrus, Columbia Records/Sony Music
“Stick Season,” Noah Kahan, Mercury Records/Republic Records/Island UK/Universal Music Group
“Miss You,” Oliver Tree & Robin Schulz, Atlantic Records / Warner Music
“vampire,” Olivia Rodrigo, Polydor/Geffen/Universal Music Group
“(It Goes Like) Nanana,” Peggy Gou, XL Recordings
“Calm Down,” Rema, Mavin Records/Jonzing World/Virgin Music Group/Universal Music Group
“Kill Bill,” SZA, RCA/Sony Music
“greedy,” Tate McRae, RCA/Sony Music
“Water,” Tyla, Epic Records/Sony Music
Alternative/rock act
Promoted by Radio X
Blur, Parlophone/Warner Music
Bring Me The Horizon, RCA/Sony Music
The Rolling Stones, Polydor/Universal Music UK
Young Fathers, Ninja Tune
Yussef Dayes, Brownswood Records/ADA/Warner Music
Hip-hop/grime/rap act
Promoted by KISS Fresh
CASISDEAD, XL Recordings
Central Cee, Columbia Records/Sony Music
Dave, Neighbourhood/Live Yours
J Hus, Black Butter/Sony Music
Little Simz, Forever Living Originals/AWAL
Dance act
Promoted by Capital Dance
Barry Can’t Swim, Ninja Tune
Becky Hill, Polydor/Universal Music UK
Calvin Harris, Columbia/Sony Music
Fred again.., Atlantic/Warner
Romy, Young Recordings
Pop act
Promoted by HITS Radio
Calvin Harris, Columbia/Sony Music
Charli XCX, Atlantic/Warner Music
Dua Lipa, Warner Records/Warner Music
Olivia Dean, EMI / Universal Music UK
RAYE, Human Re Sources/The Orchard
R&B act
Promoted by Capital XTRA
Cleo Sol, Forever Living Originals
Jorja Smith, FAMM/The Orchard
Mahalia, Atlantic/Warner Music
RAYE, Human Re Sources/The Orchard
SAULT, Forever Living Originals
Brits rising star
Caity Baser, EMI / Universal Music UK
Sekou, Island / Universal Music UK
WINNER: The Last Dinner Party, Island / Universal Music UK
Producer of the Year
Winner: Chase & Status
Songwriter of the Year
Winner: RAYE
Global Icon Award
Winner: Kylie Minogue
Indian Star Diljit Dosanjh Is Making History in Canada
Diljit Dosanjh is making more history with his latest tour announcement.
The artist has revealed where he’ll be taking his Dil-Luminati tour this summer, adding 12 new dates following his previously announced stadium show in Vancouver. The tour promises to be monumental: Beginning in Vancouver and ending in Toronto, it marks the first time a Punjabi artist has headlined Vancouver’s BC Place and Toronto’s Rogers Centre. The BC Place performance is set to be the largest-ever Punjabi music concert outside of India, at a sold-out capacity of 54,000.
That record-breaking Vancouver show kicks off the tour on Apr. 27, and from there Dosanjh plays three more Canadian cities — Winnipeg, Edmonton and Calgary — before heading south of the border to the United States for eight shows. Dosanjh then finishes the tour back in Canada at Rogers Centre on Jul. 13.
The tour looks to be another milestone in the influential artist and actor’s career and marks another boost for the rise of Punjabi music in Canada. In 2023, Dosanjh became the first Indian-born artist to play Coachella, opening up the doors for artists like Punjabi-Canadian musician AP Dhillon, who will perform at the festival this summer.
Dosanjh previously became the first Indian musician to sell out Vancouver’s Rogers Arena and Toronto’s Scotiabank Arena, and this time around he’s levelling up to stadiums in those same cities.
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Pre-sale for the Dil-Luminati tour begins Feb. 29. Tickets for the Vancouver date are already on sale. – Rosie Long Decter
Major Canadian Broadcasters Call for Government Support of Local Radio
A lot is at stake for Canadian broadcasters and musicians in the upcoming federal budget.
Canadian media company Stingray, which manages over 100 radio stations, has joined forces with independent radio broadcasters to call for strong support from the federal government for the local radio sector. Stingray and the group of broadcasters have made their message clear in a letter to Finance Minister Chrystia Freeland and Minister of Canadian Heritage Pascale St-Onge, calling for measures that will assist local radio amidst declining advertising revenues.
Canada’s radio industry, which contributes $373 million to Canadian content, has suffered from advertisers’ pivot toward tech giants like Meta, while consumers are increasingly using streaming services like Spotify and Apple Music. According to the Canadian Association of Broadcasters, in 2023, more than 200 Canadian radio stations were at risk of closing, with 40% of stations operating at a loss.
Bell Media recently announced it was selling 45 of its 103 radio stations amidst company-wide cuts and nearly 4,800 layoffs. (Billboard Canada recently spoke with three radio experts on how the industry is navigating turbulent times).
Stingray’s letter suggests that at least 70% of the Government of Canada’s advertising expenditures should be dedicated to local media, across print, digital, radio and TV. It also calls for a tax credit of at least 20% for advertising with Canadian media outlets.
“The local radio sector is an integral part of our national identity,” said Stingray CEO Eric Boyko. “Stingray and our respected independent industry partners are calling on the government to implement these measures, which are critical to the sector’s viability.”
The independent industry partners supporting the letter include companies like Atlantic radio network Acadia Broadcasting, which owns 16 stations; London, Ontario’s Blackburn Media, which owns 13 stations; and Western Canada company Pattison Media, which owns 48 stations. – Rosie Long Decter
Canadian Hip-Hop DJ/Promoter Sean Lalla Remembered By Questlove, A-Trak and others
Sean Lalla, a Canadian hip-hop DJ and promoter, has died at age 49. His body was found at an Airbnb in Trinidad and Tobago on Feb. 20.
Of Trinidadian origin, Lalla was raised in Toronto, then moved to Vancouver in 1996 to study at Cap College. He later told Vancouver alt-weekly Georgia Straight, “I hated the slow pace of Vancouver and the lack of things to do and places to go if you were a hip-hop head. Rather than complaining about it, I tried to do something about it.”
Lalla founded Spectrum Entertainment and began booking shows. In 2005, Georgia Straight wrote that he was “one of the city’s top concert promoters, and his annual showcase, 604 Hip-Hop Expo, is one of Canada’s most dynamic festivals.”
For his 2005 festival, Lalla booked American star Questlove, of The Roots fame. Upon learning of Lalla’s death, Questlove paid tribute on Instagram: “So devastated to hear the news of Sean Lalla’s passing. Throwing the dopest parties. Back when touring was my DNA you always knew you’d do his parties like 4-6 times a year.”
Under his DJ moniker, Elsewhere Sonido, Lalla travelled to Mexico City, Brazil and Japan to DJ large and sometimes intimate parties. On his Instagram page, Lalla described himself as “a sample searching siempre, a rare groove rescuer, and occasional DJ cosplayer.”
On Instagram, renowned BBC radio DJ Gilles Peterson, who hosted Lalla earlier this month, called him a “total legend” and a “humble music fan. We were last together just the other week … digging (for records) early in the morning on a Saturday before my radio show.”
Montreal turntablist/producer A-Trak (also one-half of Chromeo) remembers Lalla booking him for his first show outside of Quebec when he was 15 years old.
“Sean paid attention to the small things, the local talents, and he elevated them,” he tells Billboard Canada. “We reconnected many times over the last 5-10 years. I was happy that he was working with Maseo from De La Soul; they were a great pair. I was proud when I saw the respect he was getting from world-renowned crate diggers. His love for music ran as deep as his friendships.” – Kerry Doole
French streaming company Deezer‘s revenue grew 12.1% to 130.7 million euros ($141 million) in the fourth quarter, bringing its full-year revenue to 484.7 million euros ($524 million), up 7.4% year over year, the company announced Wednesday (Feb. 28).
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Full-year adjusted earnings before interest, taxes, depreciation and amortization (ABITDA) was roughly halved to -28.8 million euros (-$31 million) and net loss was cut by almost two-thirds to 59.6 million euros ($64 million).
This year, Deezer expects to achieve a 10% growth in revenue — to roughly 533 million euros ($575 million) — and again halve adjusted ABITDA to -15 million euros (-$16.2 million) behind improved gross margins and cost controls.
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Deezer’s subscriber count grew 11.5% to 10.5 million from 9.4 million at the end of 2022. The entire gain in subscriptions came from business-to-business partnerships, which grew by 1 million to 4.8 million. Last year, Deezer launched new partnerships with home audio company Sonos, media company RTL in Germany and e-commerce company Mercado Libre in Brazil and Mexico to power those companies’ branded music streaming services. It also renewed partnerships with mobile carrier TIM in Brazil, retailer Fnac Darty in France and mobile carrier Orange in France.
Average revenue per user (ARPU) from B2B subscribers rose from 2.6 euros ($2.81) to 2.8 euros ($3.03) per month. “Our partnership strategy is bearing fruit, driving our overall growth and helping us win market share outside France,” CEO Jeronimo Folgueira said in a statement.
Deezer’s direct subscribers remained flat at 5.6 million but those user’s ARPU increased from 4.7 euros ($5.09) to 4.9 ($5.31) euros per month. Last year, the company raised monthly subscription fees in France, Spain, Italy and the Netherlands from 10.99 euros to 11.99 euros with “minimal churn” on its subscriber case, according to the earnings release.
The company also announced Wednesday that Folgueira is stepping down “to pursue personal projects.” Folgueira joined Deezer as CEO in 2021. During his tenure, Deezer went public through a merger with a special purpose acquisition company, I2PO, in 2022, and forged a partnership with Universal Music Group in 2023 to introduce an artist-centric model for royalty calculations.
Shares of Deezer rose 0.5% to 2.18 euros ($2.36) Wednesday before the company released earnings results. The stock has almost doubled its 52-week low of 1.19 euros ($1.29) on April, 2023, 13 but is well below its 52-week high of 3.19 euros ($3.46) set on Nov. 2, 2023.
Jeronimo Folgueira is resigning from his position as CEO of the streaming service Deezer, the company announced Wednesday (Feb. 28). Folgueira previously held the role of CEO and director of the board at Spark Networks — an online dating company — before he joined Deezer in 2021. ”I am extremely proud of what we have […]
After much anticipation and careful preparation, the “Jalsat Billboard Arabia” series has finally kicked off, featuring none other than star Ahmed Saad. In the premiere episode lasting 30 minutes, Saad treated viewers to four of his chart-topping hits on Billboard Arabia’s Hot 100 that have resonated across the Arab world in recent years.
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“Jalsat,” which translates to “sessions,” is a term used in the Arabic music community and refers to the gathering of musicians and a singer to perform in a unique and intimate setting. In this exclusive series, Billboard Arabia showcases intimate performances blending the raw authenticity of studio sessions with a vibrant set design, transforming music into an audio-visual masterpiece. In each episode, an established superstar or an emerging artist will deliver a stripped-down set, capturing the essence of their music through a production concept of their own choosing.
Renowned for his consistent presence among the top spots on the weekly list of Billboard Arabia’s Artist 100, Ahmed Saad stands as one of the foremost Arabic pop stars across the Middle East. This accolade is a testament to his enduring artistic journey spanning two decades, reaching its pinnacle in the past two years with the widespread acclaim of his hits across various music platforms.
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The session unfolds with Ahmed Saad delivering a powerhouse rendition of “Ekhtayaraty” (My Choices), the summer 2023 hit that captivated audiences far and wide. Originally featured in the Egyptian film Mr. Ex, the song soared to fame and transcended its cinematic roots to become a popular sensation, thanks to its witty lyrics by Menna Adli El Kiey and composition by Ahmed Tarek Yehia. Saad’s performance is uniquely infused with a Latin arrangement, courtesy of Spanish guitars, offering a fresh take on the original song.
Ahmed Saad transitions into “Aleky Eyoun” (You Have These Eyes), a ballad that marked his return to releasing music more frequently in early 2022. With lyrics by Mohamed Shafei, Saad personally composed the romantic melody to complement the heartfelt lyrics. However, during the session, Saad injects newfound energy and rhythm into the track, steering it in an entirely different direction.
Continuing to captivate, Saad performs “El Youm El Helw Dah” (What a Beautiful Day), originally featured in the film Their Uncle but earning recognition in its own right. Also written by Menna Adli El Kiey and composed by Ahmed Tarek Yehia, the song’s buoyant lyrics and unconventional expressions have endeared it to audiences across the region. In this rendition, the song is invigorated with lively guitar chords and dynamic instrumentation, infusing its cheerful melodies with fresh energy.
Closing the show with flair, Saad presents “Wasa’ Wasa’” (Move Out of the Way), a track that has achieved remarkable success on streaming platforms since its release in the summer of 2022. With lyrics by Mostafa Hadouta and production by Ehab Clopex, the song showcased a different side of Saad in terms of topics and lyrical approach, leaning toward the style embraced by hip-hop and festival artists.
All these selections, along with others from Saad’s repertoire, have maintained top positions on the Billboard Arabia Hot 100 chart since its release more than 10 weeks ago. By selecting these particular songs for the session, Saad underscores their significance in shaping his career trajectory and solidifying his status as a star.
With enticing arrangements and a fresh style, “Jalsat Billboard Arabia” provides the audience with an opportunity to rediscover these beloved songs. Backed by a talented ensemble including Sharif Hassanein on guitar, Badawy Badawy on bass, Mohamed Saad on piano and Ahmed El Sayed on percussion, Saad reaffirms during this session his versatility and confidence across various musical genres. Through a fusion of eastern melodies and western hues, they transform familiar songs into a fresh audio-visual experience that lingers in the memory.
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This week, Beyoncé became the first Black woman to top Billboard’s Country Songs chart with “Texas Hold ‘Em.” But many of the credited songwriters and producers come from a surprising place – not Texas or Nashville, but Canada.
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“Texas Hold ‘Em” is co-written by three Canadians: Nathan Ferraro (who also co-produced it), Elizabeth Boland (who has released music for the label Arts & Crafts as Lowell) and Megan Bülow (who makes music as bülow). The three of them are all credited on the song, with Ferraro also co-producing the song with Killah B and Beyoncé.
“I love Beyoncé and I love the record,” Ferraro tells Billboard Canada, “She’s created such an amazing cultural moment.”
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Another Canadian, Dave Hamelin (formerly of The Stills), is credited on Beyoncé’s other new song, “16 Carriages,” listed as a producer and engineer.
To be clear, Beyoncé’s moment is not about any of these Canadian musicians. Many have rightfully pointed to the contributions of Rhiannon Giddens, a musician who’s been showing the world that the banjo was originally a Black instrument (which fits right in with Beyoncé’s Renaissance mission of reclaiming Black genres, first house and now country). Prominent Black roots musician, Robert Randolph, is also credited as a steel guitar player.
But it is also a big credit for a number of Canadian musicians who have been working behind the scenes of the music industry in bigger and bigger ways.
Ferraro was in an alt-rock band called The Midway State that had some success in Canada in the late 2000s. A signing to Interscope as a teenager brought him to Los Angeles, where he splits time with Toronto (it also brought a collaboration with a then up-and-coming Lady Gaga).
After writing for and with mostly Canadian artists, including Carly Rae Jepsen and Jessie Reyez, he had a modest international hit with bülow in “Not A Love Song,” which exemplified their collaboration as songwriters. He also wrote with Lowell (signed to Canadian label Arts & Crafts) for her project. They all formed a songwriting team that picked up steam in 2022, collaborating on the Charli XCX song “Yuck.”
“[The collaboration] works well for us,” Ferraro tells Billboard Canada. “We’re such good friends and we know each other’s strengths and weaknesses. I think we all have a lot of mutual respect, so we have a lot of confidence together and that allows us to take risks.”
He estimates they’ve written about 100 songs together, with about 20 of them seeing the light of day. Personally, he’s written about 1500, he says. He’s been recognized in Canada, with seven SOCAN awards for public performance of songwriting, but he’s also established himself as part of a “vibrant” community and industry of songwriters, studio musicians, producers and A&R people in Los Angeles.
“I first started coming here, sleeping on couches wherever I could, working with different collaborators and friends,” he says. “I did that for years. And at the end of the pandemic, I started spending even more time here and got a manager down here. And now I’m spending about six months a year here.”
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Ferraro is inspired by prolific songwriters who’ve both written for other artists and recorded under their own names – Carole King and Diane Warren, especially. But he describes his collaborative songwriting process as one based on friendship and spirituality – not necessarily religious, but one with room for an ineffable type of expression that drives in-the-room creation.
“When I read a book by Rick Rubin or John Lennon, that often comes up. And I don’t think it’s by chance,” he says. “For any artist there’s a vision and a belief in something that doesn’t yet exist. I think it was Quincy Jones who said ‘always leave some space for God in the room,’ and it’d be silly of me to negate that. There’s a humility and a presence and an openness, and I think that’s important.”
Many of his biggest credits have been for female artists, from Lady Gaga to Charli XCX, something he attributes to growing up with five younger sisters. None of those credits have been as big as “Texas Hold ‘Em,” though, which could become a breakthrough credit for Ferraro, Lowell and bülow.
“Honestly, since I was 14, I had the vision that I would write songs that could have a major impact,” he says. “And it’s pretty delusional because it’s just so, so far away. I grew up in Collingwood, Ontario. But you just put one foot in front of the other and write lots and lots of songs and don’t give up. And that’s led me here.”
This article originally appeared on Billboard Canada.
The Universal Music Group purchased a majority stake in Nigerian record company Mavin Global, the iconic label founded by Don Jazzy that is home to Rema, Ayra Starr, Crayon and Ladipoe, among others. The deal is expected to be completed by the third quarter, pending regulatory approval, the companies announced.
Terms of the deal were not disclosed. However, Billboard reported in October that Mavin was being shopped by Shot Tower Capital at a valuation north of $125 million, with a sale price in the region of $150 million to $200 million; it was unclear if publishing was involved in the deal. As part of the investment arrangement, Don Jazzy — who founded Mavin in 2012, and also serves as CEO — and COO Tega Oghenejobo will continue to run the label.
“Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people,” UMG chairman/CEO Lucian Grainge said in a statement announcing the deal. “With Don Jazzy, Tega, the Mavin Global team and their artist roster, we’ve found ideal partners with whom to grow together. Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family.”
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Mavin had already established a relationship with UMG, with Rema’s “Calm Down” — the biggest Afrobeats song of all time, which reached No. 3 on the Hot 100 last year — initially distributed by Virgin Music, with its remix featuring Selena Gomez licensed to Interscope; Starr, meanwhile, has a deal in place with Republic. “Calm Down” has racked up more than 1 billion on-demand streams in the U.S. alone since its release, with its global count many multiples higher.
The investment is designed to spur Mavin’s growth around the world, according to a press release, with focuses on both Mavin’s Artist Academy, which nurtures its roster in various musical and performance skills, and its executive leadership team, which is aimed at growing the next generation of African leaders in the music business.
“With our proven history of collaborations within the UMG family, we have a strong belief that they are the ideal partner for the next phase of our growth, given the diversity and potential of our business,” Oghenejobo said in a statement. “UMG is home to some of the world’s foremost music entrepreneurs and artists, making them a perfect match for our aspirations. By collaborating with UMG, we are dedicated to cultivating a vibrant creative environment that propels African music to new heights on the global stage.”
Winning the Mavin auction catapults UMG deeper into the Nigerian Afrobeats scene — the umbrella genre that encompasses Afropop, Afro fusion, high life and others that continues to explode around the globe. In the past several years, artists such as Wizkid, Davido and Burna Boy have blossomed into global superstars, while the likes of Rema, Starr, Tems, Tyla, Ckay, Asake and Fireboy DML have led a wave of young, emerging talent coming from the African continent. The movement has gained momentum to the point that the Recording Academy introduced a new Grammy Awards category for best African music performance, which was awarded to Tyla’s “Water” at the honors earlier this month.
Additional reporting by Ed Christman.