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Coldplay‘s version of “Baraye,” a soft-spoken Iranian revolutionary anthem that recently landed its singer in state detention, was not just intended for the crowd at the EstadioMâs Monumental in Buenos Aires last month.
Amid weeks of street protests in Iran over the Islamic Republic’s policing of dissent and violent treatment of young women, the stadium singalong went viral, landing in worldwide news reports and generating hundreds of thousands of YouTube views.
Shervin Hajipour crowd sourced “Baraye” with lyrics he collected from tweets from Iranian protesters. The hymn is “like a Joan Baez song, not a Rage Against the Machine song,” says Sam Zarifi, the Tehran-born secretary general of the human-rights group International Commission of Jurists.
It quickly became an anthem for the protest movement, which was triggered when police arrested a 22-year-old Kurdish woman, Mahsa Amini, for allegedly wearing her state-mandated headscarf not tightly enough. Three days later, Amini died at a police station — beaten to death, according to her family, although the government cited a heart attack — leading to the mass street protests.
Since her death on Sept. 16, street protests have resulted in dozens of deaths and hundreds of arrests, according to news reports.
“The constant refrain of the protesters right now is ‘be our voice,’” says Zarifi. “What they really want is to not be forgotten. Attention must be paid.”
Hajipour, a 25-year-old pop artist from northern Iran, posted his version of “Baraye” on social media on Sept. 28. It includes the verse “because we want to be free to dance outside in the streets/because we feel terror when it’s time to kiss.” The track hit 40 million Instagram views in one day, according to the Washington Post and others. Since then, it has streamed 3.2 million times globally, according to Luminate, which doesn’t receive data on streams within Iran. The track has also sold 2,500 downloads, hitting No. 4 on Billboard‘s World Digital Song Sales chart last month.
The Iranian government quickly arrested Hajipour and the song vanished from his Instagram. But it was too late to prevent “Baraye” from turning into a worldwide anthem supporting the protesters. The Coldplay version in Argentina was a duet with a guest, Iranian actress Golshifteh Farahani, with verses sung in Farsi. Last month, Iran released Hajipour from detention, and he appeared in an Instagram video to say “Baraye” contained no links to a “movement or organization outside the country.”
The song’s worldwide attention is “huge,” says Zarifi, an American living in Switzerland who grew up in Iran listening to rock ‘n’ roll on headphones to avoid punishment from a government opposed to western music. He cites Baez’ 2009 version of “We Shall Overcome,” including a verse sung in Persian, as particularly inspirational for Iranians at the time.
“Nobody saw it, but it meant a lot,” Zarifi says. “This protest is absolutely the desire of a generation of Iranian kids just to be part of the regular world — if you see some of the people who were killed, they’re just kids who want to do TikTok videos and listen to music on the street. They’re being bullied by backward-looking old mullahs.”
Iranian protests have a history of music and verse going back centuries to the 13th-century Persian poet Hafez, who commented on political instability and religious hypocrisy, according to New Lines magazine. More recently, Iranian leftists retrofitted Chilean singer-songwriter Victor Jara‘s anthem “El Pueblo Unido” into an inspirational theme for Iran’s 1979 revolution, according to Zarifi, who says that the revolutionaries gave little thought to the repressive regime that would follow Mohammad Reza Shah, Iran’s last Shah (king).
Negar Mottahedeh, a Duke University literature professor who teaches gender and feminist studies, says “Baraye,” which translates to “because of” or “for” in Persian, is “wholly new and grounded in the conditions, desires and demands of the present.” She adds that the song is both relevant and flexible, recently landing in video versions by English-language interpreters, a Dutch dance troupe, worldwide animators and Swedish Eurovision stars.
“It’s a very gentle and soft song, but it’s full of mourning and grief,” says Mottahedeh. “Someone asked me about the raging anger that is beneath that — of course it’s there, but there is also a sadness about this moment.”
Or as Coldplay’s Chris Martin told the crowd in Argentina on Oct. 29: “Young women and young people are fighting for their freedom — for the right to be themselves.” Then he added, “You may not know this song, but we’re going to give it everything.”
Chris Martin of Coldplay performs at Estadio Mâs Monumental Antonio Vespucio Liberti on October 25, 2022 in Buenos Aires, Argentina.
Santiago Bluguermann/GI
The Warner Music Group has launched a new label, called OUT OF ORDER, that will highlight artists from emerging markets including Africa, India, the Middle East, Southeastern Europe and the Eastern Mediterranean, the company announced Thursday (Nov. 10). The new label will partner with Parlophone in the U.K. and Atlantic in the U.S., as well as the local WMG affiliates in respective markets, according to a press release; its tagline is “a diverse collection of sounds in no particular order.”
OUT OF ORDER plans to put a spotlight on several different types of creators in each region with a focus on “dance-leaning records,” with artwork created by local designers and a weekly radio show with hour-long DJ sets inspired by tracks from each of the albums, with the mixes hosted on Audiomack, SoundCloud and YouTube.
“I’m incredibly passionate about this initiative,” said Selina Chowdhury, Warner Music’s head of emerging markets, who will run OUT OF ORDER, in a statement. “There’s so much unique and inspired international music that often doesn’t have a global platform. We hope that OUT OF ORDER will take music fans on an adventure and introduce them to sounds and artists they might not otherwise have had the chance to hear.”
Selina Chowdhury
Courtesy Photo
The label’s first release, out Thursday, is called OOO: AFRO, which Warner says “features a mix of Afrobeats, Amapiano and House tracks from the likes of Da Capo, Makhadzi, Moelogo, Oscar Mbo, P-Priime and Rouge,” with artwork by Ghanaian designer Nyahan Tachie-Menson, who said in a statement, “There’s so much going on with the music emerging from individuals on the continent; something we can all relate to is the vibrancy of the music, and that’s what I captured here.”
“Africa is a continent rich with various sounds, which have for the longest time influenced popular culture, but is only now really being spotlighted for its contributions,” Warner Music Africa’s creative lead Garth Brown said in a statement about the release. “This album showcases some of the music from across the continent. It’s an opportunity to give the world a peek of what Africa sounds like.”
OUT OF ORDER’s next release, set for early next year, will be in partnership with Warner Music India.
RIO DE JANEIRO — In 2020, the pandemic knocked down Brazil’s show business, causing the number of music-related events to plummet by 80% to about 15,000, from over 83,000 in 2019, according to Brazil’s office for collection and distribution of music copyrights (ECAD).
While many artists pivoted to livestreams during the shutdown, Bete Dezembro and a group of fellow promoters and artist managers seized the moment to try to remake Brazil’s concert business — betting that once artists returned to the stage, concerts would be in much higher demand. “We had to reinvent ourselves,” Dezembro, owner of Fábrica de Eventos, an events promoter focused on Brazil’s northern music market, tells Billboard.
In March of 2021, Dezembro — along with Augusto Castro, Léo Góes, Celso Almeida and Fernando Almeida — launched 4Even, Brazil’s first investment fund designed to turn music shows into a financial asset class. The gig-driven fund generates profit from buying shows from music artists and reselling them to private clients for higher prices.
The idea was risky. At the time, it was unclear when live concerts would return or even when COVID-19 vaccines would be available in Brazil. “The financial market bought into this idea when it realized that the businesspeople who understand the music sector were the ones taking the risk,” says Dezembro.
With 100 million reais ($18.8 million) of their own money, the five partners inaugurated 4Even’s portfolio by acquiring 192 show dates of Gusttavo Lima, a popular sertanejo act — which valued his shows at just under $100,000 apiece. (Sertanejo is Brazil’s version of American country music.) A year and a half later, 4Even is worth around $30.5 million, the fund managers say, with a portfolio of around 800 shows from at least nine Brazilian artists.
The diverse list includes pagode performer Sorriso Maroto, dance music DJ Vintage Culture and sertanejo duo Jorge & Mateus, 4Even’s most recent acquisition. (4Even only negotiates for shows in Brazil.)
Dezembro tells Billboard that five other Brazilian artists, who she would not name, are currently negotiating to sell shows to 4Even.
While the live sector is rebounding, ECAD says the number of music-related events in 2022 through September, at about 40,000, is still less than half of the 2019 full-year level. That hasn’t stopped the 4Even fund from inspiring other investors. In August of 2021, Opus Entretenimento, a concert promotion and artist management company, and brokerage company XP inaugurated a show-driven investment fund they say is worth around $52 million. Seu Jorge, Alexandre Pires, Bruno & Marrone and Vintage Culture are among the artists who have sold shows to the XP OPUS fund.
Nevertheless, some Brazilian music executives have reservations about the concert funds’ ability to be profitable.
“I’m afraid that some of these funds may be valuing their assets a bit above their actual market value,” says Marcelo Soares, the CEO of Som Livre, a label owned by Sony Music Entertainment. “Some of them will eventually face financial losses. But I like that investment funds are discovering the music market.”
Marcos Araújo, CEO of promoter Villa Mix, says high artist fees, which have been rising in Brazil for the biggest artists, could lead fund partners to squeeze consumers by raising ticket prices. “It’s a very difficult model,” says Araújo, who has managed Lima and other big acts like dance-music performer Alok. “The artist takes his money in advance and spends it on a jet, plane, ship, boat. His money runs out and he starts fighting with the fund. Because he wants more money.”
Araújo told Billboard in mid-2020 that he was working to create his own gig-driven concert fund. He ultimately stopped trying to land enough investment after souring on the idea as too risky. “I was afraid artists couldn’t fulfill their agreements,” he says.
Lima was the first to sell shows to 4Even, agreeing after fund partner Castro, who produces shows and manages artists from Central-Western Brazil, persuaded him that the fund could create financial security for artists. “The idea was that when the pandemic restrictions ended, there would be money in their account,” Castro tells Billboard.
While any 4Even investor can pitch new artists for the fund, acquisitions must be agreed upon by all the partners. Lima, who will soon become one of the fund’s shareholders, informally proposed 4Even invest in Vintage Culture, whose budding international career was making his Brazilian dates scarcer. “As he has started performing abroad more often, he has less availability to perform in Brazil,” says Dezembro. “His future show dates would become more expensive, which would eventually profit the fund.”
Vintage Culture performs live onstage during the second day of Lollapalooza Brazil Music Festival at Interlagos Racetrack on April 06, 2019 in Sao Paulo, Brazil.
Mauricio Santana/GI
According to João Fiuza, CEO of Brazilian fintech One7, which is responsible for the financial governance of 4Even, Lima is expected to become an official fund investor in November, entitling him to participate in all portfolio decisions. Until now, he has been informally advising on new assets. (Junior Marques, one of the artists who sold shows to 4Even, is managed by Balada Music, Lima’s music management company.)
The recent wave of investigations into publicly funded music shows in Brazil — officials in 70 cities are suspected of agreeing to pay inflated fees to lure artists — has placed Lima under a negative spotlight, as his name was mentioned in many of the contracts under scrutiny. Dezembro says no Lima show that belongs to the fund has been canceled or devalued in the market since the investigations became public.
The fund doesn’t resell shows to municipalities, which are the target of the ongoing “CPI do sertanejo” investigations — it sells to private clients, like rodeos, fairs and other events, she says. And all of Lima’s municipal shows were negotiated directly with his company, Balada Music, she says. (Fiuza says Lima’s 4Even-owned shows are selling at a higher price now than before the investigations.)
Even though the fund resells shows for higher prices than they pay the acts, 4Even has seen a growing number of artists vying to join the portfolio to invest in their careers. The fund can be particularly helpful to emerging artists, who can use money earned from selling shows in advance to record one of their concerts, for example, says Fiuza.
But most artists are signing with 4Even for the overall career-management opportunity. “If it were all about buying and reselling the shows, the fund wouldn’t be sustainable,” says Dezembro. “The stronger pillar of the fund is being able to place these artists in the biggest events of Brazil, on the best days, and at the most competitive [set times].”
Additional Reporting by Alexei Barrionuevo
LONDON — Deezer has always been the streaming service that charted its own path. After launching in 2007 — a year before Spotify debuted — the Paris-based company rapidly opened its service in over 180 countries; but, unlike Spotify, which focused on one or two markets at a time, Deezer avoided the biggest markets, like the United States and Japan, for many years. But now that the number of on-demand music subscription services has boomed, Deezer has struggled to keep up with its rivals.
New CEO Jeronimo Folgueira, who took over in June 2021, hopes to change that. Deezer is shifting from targeting small and emerging territories to renewing its focus on large and established music markets, where consumers are more willing to pay for subscriptions. In August, Folgueira forged a partnership with German broadcast giant RTL Deutschland to deliver music and video content in a single app — RTL+ Musik — putting Deezer in a stronger position to compete with Spotify, Apple Music, Amazon Music, China’s Tencent Music Entertainment (TME) and YouTube Music.
Folgueira calls the RTL tie-up a “transformative” deal that gives Deezer the scale it needs to break into Germany, the world’s fourth-biggest recorded-music market, with revenue of $1.6 billion in 2021, up 12.6% from 2020, according to IFPI. “In those markets where we have the right partner and the right distribution strategy, our product is second to none,” says Folgueira.
But in the increasingly crowded streaming business, Deezer, which counts Warner Music Group owner Access Industries among its biggest shareholders, is fighting an uphill battle to unseat Spotify. Deezer’s strategy seems more about becoming a “second-tier player that is strong where first-tier players are not,” says Mark Mulligan, analyst at MIDiA Research. While it was “once incumbent,” along with Rhapsody, “it is now challenger, and it has honed its strategy accordingly.”
Deezer is strongest in France, where it is partnered on bundle deals with telecom company Orange and has 4.4 million subscribers, and in Brazil, where it partnered with TIM Celular in 2016 and has 2.7 million subscribers, according to company filings. Worldwide, Deezer has 9.4 million subscribers compared with Spotify’s 195 million subscribers and 273 million free (ad-supported) users, while TME has 82.7 million paying subscribers, according to the companies’ latest earnings reports.
While Apple Music, Amazon Music and YouTube Music don’t regularly announce user numbers, last year Lyor Cohen, YouTube’s global head of music, said the service had surpassed 50 million paying subscribers worldwide. The last time Apple issued any data for its service was in 2019, when it said it had over 60 million subscribers worldwide; Amazon Music said it had more than 55 million subscribers globally in January 2020 but has not updated that figure since.
Rapidly growing TikTok dwarfs them all, with the social media app boasting over 1 billion active monthly users, many of whom use music in their videos. Streaming executives will watch closely what ByteDance, TikTok’s parent, does next. The Beijing-headquartered company is understood to be in talks with labels about expanding its subscription-based music streaming service Resso — currently available in India, Indonesia and Brazil — to more than a dozen new markets ahead of a global rollout. (Verified profiles with the username “TikTok Music” have appeared on social media platforms in recent months advertising “a new way to experience music.”)
For Deezer, strategic partners like RTL Deutschland, which says it reaches 99% of the German population through its 15 TV channels and numerous radio, print and digital outlets, are the key going forward, says Folgueira. “RTL has to compete with Netflix, Apple and Amazon,” he says. “We compete against Spotify, Apple and Amazon. Together, we can compete much better and have a proposition that is equal or better.” Deezer is seeking strategic partners in other big markets, he says, including the United States (where it launched in 2016), the United Kingdom, Spain and Italy.
Engineers at Deezer and RTL spent a year developing the RTL+ Musik app, which combines music streaming with film, TV and news content and costs 9.99 euros ($9.84) for the first six months, then rises to 12.99 euros ($12.80) per month. RTL, which is owned by BMG parent company Bertelsmann, says it has 3.4 million paying subscribers for its lower-priced, video-only RTL+ streaming service but believes it can quickly grow its premium subscriptions through music.
This year’s merger with I2PO, a special purpose acquisition corporation that raised 275 million euros ($282 million) in a 2021 initial public offering, gives Deezer the funding it needs to execute the plan, says Folgueira. Still, as it tries to make its strategic pivot, Deezer faces strong market headwinds and an uncertain investment environment for music streaming.
Since its rocky debut on the Euronext Paris exchange in July 2021, Deezer’s share price has plummeted almost 60% and now hovers around 3.5 euros (it closed at 3.42 euros on Nov. 8). Spotify shares have tumbled 74% over the past year, to $73.44 on Nov. 7, as investors soured on streaming following a pandemic-related boom. (Spotify’s all-time high closing share price was $364.59, set on set on Feb. 19, 2021.)
“There is a growing acceptance among investors that the boom period for streaming investments is drawing to a close,” says Mulligan. He predicts streaming services will continue to represent long-term value but “will be less interesting to certain kinds of investors, which may weaken overall demand and thus push down share prices.”
Folgueira points to Deezer’s midyear financial results — revenue grew 12.1% (up 9.9% at constant currency) from the prior-year period to 219 million euros ($218 million) — as evidence that the company is well positioned to survive and grow within the fast-changing music streaming market. (Since the interview, Deezer released its third quarter earnings on Oct. 27, showing revenue up 13.8% and 11.4% at constant currency.) “For the last 10 years, streaming companies have prioritized growth over profitability,” says Folgueira. “That will start shifting now, and we will all focus more on profitability going forward.”
Fútbol fans around the world are counting down the days until the 2022 FIFA World Cup kicks off on Nov. 20 in Qatar. To get pumped for the big day, many already have their favorite official World Cup song on repeat.
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In 1990, almost sixty years after the first-ever edition of the World Cup, the Fédération Internationale de Football Association (FIFA) began to adopt songs that would become the official soundtrack of the global soccer event, which happens every four years.
Of course, some have become more memorable than others. There’s Ricky Martin‘s “Cup of Life (La Copa de la Vida),” which in 1998 was the euphoric official FIFA song for the tournament that took place that year in France. It originally peaked at No. 60 on the Billboard Hot 100 in 1998 and re-entered the chart at No. 45 in August 1999. The international smash hit also won a Grammy for best Latin pop performance.
Twelve years later, for the 2010 World Cup in South Africa, Shakira gifted fútbol fans the ultimate soccer song. She released “Waka Waka (This Time For Africa)” in collaboration with Freshlyground. The tournament’s official song was recorded in Spanish and English. With more than 3 billion views on YouTube to date, the track peaked at No. 38 on the Hot 100 chart dated July 3, 2010.
Other World Cup official songs or anthems that made a splash are Pitbull, Jennifer Lopez and Claudia Leitte’s song “Ole Ola (We Are One)” for the 2016 Mundial in Brazil. And don’t forget Nicky Jam, Will Smith and Era Istrefi’s official song titled “Live It Up.”
While we wait for the soccer event to begin, vote for your favorite all-time World Cup song below.
Universal Music Publishing China (UMP China) has signed a global publishing agreement with RYCE Publishing, a music and entertainment company with an over 700-song catalog. RYCE will use UMP China as its publishing administrator for some of China’s biggest C-pop songs from chart-topping artists like Jackson Wang.
Through the deal, UMP China will provide global infrastructure and opportunities for RYCE’s roster as well as handle the Greater China rights for hundreds of major K-Pop hits that are under RYCE’s control including from Korean acts GOT7 and TWICE.
“We saw the rise of J-pop three decades ago and its massive influence on audiences across Asia. Now K-pop is a global phenomenon as we all know, and there has been a very key bridging force between these genres in the last two decades,” says Joe Fang, managing director of UMP China. “With China rising to become the sixth biggest music market of the world, I believe the time of C-pop is here. RYCE Publishing, with its hybrid talents and border-crossing catalogs, is a central piece of that next bridging force and I’m thrilled that UMPG will play an instrumental role in supporting these future chapters of music history.”
Joe Fang
Courtesy Photo
UMP China will now administer top tier C-Pop songs in the RYCE catalog, including “Manual to Youth” and “Adore” performed by TFBOYS; “100 Ways,” “I Love You 3000,” co-written and performed by Jackson Wang （王嘉尔）; “Jiao Huan” performed by Zhou Shen（周深), “EASIER,” performed by Amber Liu （刘逸云） featuring Jackson Wang and “Xiao Juan,” performed by Sitar Tan（谭维维）.
On the K-Pop side, UMP China will now help RYCE Publishing with the promotion of Korean hits for acts like Super Junior, EXO-CBX, GOT7, TWICE, and more in the Greater China region.
RYCE Publishing, is a division of RYCE Entertainment, an entertainment giant based in Beijing. With music publishing, agency, marketing, investing, and brand operating divisions, it specializes in managing music catalog and media resources.
UMP China’s partnership with the local company highlights Universal’s continued efforts to push deeper into China’s music business. Last year, UMP China expanded from its original Beijing headquarters to add a second office and studio space in Shanghai and has also focused on creating songwriting camps to foster the careers of local signees, including one all-female camp with She Is The Music.
China’s music market has grown in size by more than 30% in each of the past two years, according to IFPI, which said total revenues for 2020 were $791.9 million (the total for 2021 was not available). Meanwhile, royalties paid to songwriters and composers rebounded with 8.48 billion euros ($8.49 million) in 2021, a rise of 7.2% from 2020 — but still down 52% from the pre-pandemic levels of 2019, according to CISAC, the global rights management organization.
All three major labels continue to explore opportunities in China, even with the uncertainties surrounding government regulation of music and tech companies like Tencent Music Entertainment (which publishes Billboard China), which have been forced to end exclusive arrangements with the majors for their repertoire in the past two years. Those exclusive deals followed years in which China’s music industry was known for rampant piracy that made it tough to make money in the country.
“We hope that everyone respects music copyright,” says Yunyun Wang, managing director of RYCE Publishing. “If we could all do that, every artist in China music market will be motivated to work harder to make decent products, creating a healthy environment for us all.”
Daryl K, founder and CEO of RYCE Entertainment, says in a statement: “We protect and promote our writers with a vengeance and we’re excited to continue doing so with UMP China. We’re looking forward to the fruits of our partnership.”
Andrew Jenkins, president of Asia Pacific, UMPG, says that RYCE Publishing’s “remarkable creative drive has led to a huge number of hits and great commercial success for RYCE Publishing so far. I look forward to an even more successful future as both companies work together to further build on the global impact of RYCE Publishing in the coming years through this new agreement.”
Even with BTS on hiatus, the band’s label and agency HYBE grew revenues 445.5 billion KRW ($308.7 at the Sept. 30 exchange rate) from July to September — up 30.6% from the year-prior period, according to the company’s third-quarter earnings report released Thursday. But compared to second-quarter revenue of 512.2 billion KRW ($354.9 million), revenue was down 13%.
The “artist direct-involvement” segments of the business showed mixed results in the quarter. Music sales of 129.2 billion KRW ($89.5 million) were 0.4% year-over-year and 38.7% lower than the previous quarter. Concert revenue of 47.2 billion KRW ($32.7 million) was a vast improvement over zero in the third quarter of 2021 but lower than the first and second quarters. Revenues from ads, appearances and management fell 11.7% year-over-year to 29.8 billion KRW ($20.2 million).
HYBE saw better performance from its “artist indirect-involvement” segments that are less dependent on the timing of music releases and tour dates. Merchandising and licensing revenue grew 49.5% year-over-year to 144.7 billion KRW ($100.3 million). Contents revenue climbed 22.9% to 107.2 billion KRW ($74.3 million). And fan club revenue improved 27.5% to 17.3 billion KRW ($12 million).
Though the first nine months of the year, HYBE’s revenue improved 55.7% year-over-year to 1.24 trillion KRW ($859.2 million) and its operating profit increased 59.% to 185.9 billion KRW ($128.8 million). Operating margin improved from 14.6% to 15%.
Despite the impressive growth, HYBE is facing a dilemma. The company is without its biggest artist, BTS, after members went on hiatus earlier this year and will soon face mandatory military service in Korea. Losing its cash cow — until “around 2025,” according to an Oct. 17 letter to shareholders from CEO Park Ji-won — leaves Hybe with a tricky balancing act: In the absence of BTS new music and tours, the company must make up the difference with individual members’ solo projects and a slate of successful and up-and-coming artists. With only a retrospective album, Proof, and no concert dates since April, BTS will still account for 60-65% of HYBE’s 2023 revenue, Park said during the earnings call. The remaining 35-40% of revenue will come from a growing roster of young artists and Ithaca Holdings, which HYBE acquired in 2021.
In recent years, HYBE has diversified to reduce its reliance on BTS and build a more stable portfolio of companies and artists. Through its nine record labels in Korea, Japan and the U.S., HYBE has built a diversified roster that “helps us avoid a risk of concentrating on a certain country, a certain genre, and allows us to flexibly respond to the changing external situations and trends, thereby reducing the overall business risk,” said CFO Lee Kyung-Joon.
Ithica Holdings added both recorded music catalog (through Big Machine Label Group) and artist management clients (through SB Projects). Its founder, Scooter Braun, is now co-CEO of HYBE America. When asked by an analyst what synergies Ithaca provides more than a year after the merger, Park pointed to the newfound ease and efficiency of launching projects in the U.S. under Braun and co-CEO Lenzo Yoon. Also, Ithaca’s U.S. artists will join HYBE’s WeVerse social media platform in 2023, Park added, and HYBE is pursuing opportunities for the businesses of Ithaca artists Justin Bieber (Drew House) and Ariana Grande (R.E.M. Beauty) in Asia.
In Korea, HYBE’s roster includes such up-and-coming artists as Le Sserafim, released through its Source Music imprint, whose first two albums have surpassed a combined 1 million units sold. NewJeans, released through HYBE’s ADOR imprint, has cumulative sales of 620,000 of its debut, self-titled EP released in August. Outside of Korea, HYBE is taking its model for discovering and developing new artists to the world’s two largest music markets. In Japan, HYBE Labels Japan is prepping the December launch of &Team, a nine-person, multinational boy band. In the U.S., HYBE has a joint venture with Universal Music Group’s Geffen Records and is developing a global girl group.
Hybe’s plan for global growth goes beyond its growing artist roster. A broad strategy termed by Park as “expansion through cooperation across boundaries” includes mergers and acquisitions, joint ventures, equity investments and partnerships. “In order to expand the multi-label strategy, we’re considering various partnerships and investments with labels, catalog companies and talent management companies in overseas markets such as the U.S. and Japan, thereby strengthening our music I.P. portfolio,” Park said. “Through this approach, we except that greater synergies will be created with our superior solutions capability on concerts, merchandising and content to deliver greater results.”
But in the short term, HYBE doesn’t have a quick solution for replacing BTS, and Park warned that declining BTS revenue — namely lost concert revenue — will put pressure on HYBE’s margins in 2023. That should change as groups such as Seventeen and Tomorrow X Together gain popularity and perform in larger venues. Compared to BTS, those artists’ margins are “not very different from the margin of BTS — other than concert revenue,” he said. “Therefore, as these groups continue to grow, I believe that margin will improve accordingly…starting from 2024.”
With HYBE’s share price down 64.9% year to date, mostly due to BTS’s hiatus, the company is considering additional ways to improve shareholder return, including share buybacks and dividends. Park said the company will reveal more about those plans in early 2023.
LONDON — One of the 22 people killed in a suicide bomb attack outside an Ariana Grande concert at Manchester Arena in 2017 would probably have survived had it not been for “significant failures” by the emergency services responding to the atrocity, a public inquiry has found.
John Atkinson, 28, died on May 22, 2017, when bomber Salman Abedi detonated a home-made explosive device in the foyer of Manchester Arena (now known as the AO Arena) at the end of a Grande’s sold-out show. More than 800 people were injured in the terror attack, many of them children.
An 884-page report detailing the emergency services response to the attack, published on Tuesday (Nov. 3), found that Atkinson, a caregiver for adults with autism, could have survived the attack “if given prompt and expert medical treatment.”
Instead, Atkinson, who was standing only six meters (nearly 20 feet) away from the bomber when he detonated his device at 10:31pm U.K. time, suffered severe injuries to his legs. He had to wait 47 minutes before he was treated by paramedics and then went into cardiac arrest and died on the way to the hospital.
“It is likely that inadequacies in the emergency response prevented his survival,” the report concluded.
The report is the second of three being produced by the public inquiry from the U.K. Home Secretary, which began in 2019.
The chair of the inquiry, John Saunders, said many things went “badly wrong” in how the emergency services responded to the attack, including “significant failings by a number of organizations in preparation and training” for such an emergency. On the night of the bombing, the national terror threat level in the U.K. was severe, meaning an attack was highly likely.
While praising the heroism of the first responders and citizens on the scene, Saunders identified “very significant” failures by Greater Manchester Police and an “unduly risk-averse” approach from the fire service. He also cited substantial problems with how the North West Ambulance Service handled the emergency, as well as serious failings by British Transport Police.
“Some of what went wrong had serious and, in the case of John Atkinson, fatal consequences for those directly affected by the explosion,” said Saunders. He concluded that none of the other 20 victims could have survived their injuries from the explosion and “inadequacies in the [emergency service] response did not fail to prevent their deaths.”
The report is highly critical of Greater Manchester Police for failing to declare a major incident in the immediate aftermath of the explosion. Two of the department’s most senior officers were on duty that night but made “no effective contribution to the emergency response.”
There was “non-existent” communication between emergency service senior offices and “individual failures” that further undermined the joint response, the report stated.
Only three paramedics entered the arena’s foyer to help the injured following the explosion. Fire officers took more than two hours to arrive at the scene after senior officers wrongly believed they were attending a marauding terror attack and it was not safe to send in firefighters – a delay that Saunders said was “serious and unacceptable.” Their presence would have resulted “in the safer and faster extraction of the severely injured” to another location where they could receive proper clinical care, he said.
The inquiry also found that there was a “remote possibility” that eight-year-old Saffie‐Rose Roussos — the youngest victim of the attack — could have been saved “with different treatment and care.” Roussos drifted in and out of consciousness for 26 minutes after the bomb blast and was able to give her name to the first member of the public who helped her, but no tourniquets or leg splints were applied to her injuries.
She was subsequently carried out of the foyer and taken to a hospital, where trauma doctors were unable to save her.
Following the report’s publication, David Russel, chief fire officer for Greater Manchester Fire and Rescue Service, apologized for what he called a “wholly inadequate and totally ineffective” response that “will forever be a matter of deep regret.”
In all, the report makes 149 recommendations, including requiring first aid training for all police officers and firefighters and more regulation and enforcement to improve the standard of healthcare services at public venues.
The public inquiry’s first report into the terror attack, published last June, looked at whether police and security should have done more to prevent the bombing. It found that arena operators SMG, security company Showsec and the British Transport Police, who were responsible for policing the area where the bomb exploded, were “principally responsible” for missed opportunities to prevent or minimize the “devastating impact of the attack.”
The third and final report will focus on the radicalization of Salman Abedi and what intelligence services knew about him and his family. The bomber’s brother Hashem Abedi was sentenced in 2020 to a minimum of 55 years for his part in the bombing.
“Nothing will ease the pain of the families of those killed during the cowardly terrorist attack at Manchester Arena,” U.K. prime minister Rishi Sunak said on Twitter on Tuesday after the report’s release. “It is my solemn commitment to the victims, survivors and their loved ones that we will learn from the lessons of this inquiry.”
For nearly four years, the deadly shooting of trap artist Kevin Fret has remained an unsolved and salacious mystery that cast a pall over the Latin music scene in Puerto Rico.
After Fret, 24, was shot twice on Jan. 10, 2019, while riding a scooter in the Santurce neighborhood of San Juan, his mother Hilda Rodriguez publicly accused reggaeton star Ozuna and his manager of ordering the death of her son, charges they have denied and that have not been proven.
Now the prosecutor who was assigned to the investigation, Betzaida Quiñones, says that unbeknownst to Fret’s family and the public, only three months after she began her probe, she was told by superiors to shut it down. In April of 2019, she was interviewing a witness, whom she did not name, when she received a phone call from a superior with a message: “From that point on I was not going to continue interviewing that person,” she said Tuesday on WAPA-TV’s Cuarto Poder. The investigation was at its “peak,” she said, “and I was never given an explanation.”
Quiñones’ public statements over the past week, made in a series of television interviews in Puerto Rico, have called the murder investigation into question, raised concerns about undue influence from the rich and powerful and added to questions about Wanda Vázquez, the former attorney general and ex-governor, who was Quiñones’ ultimate boss.
In statements to the media, Quiñones has said that Vázquez and Olga Castellón, the head of the criminal unit in 2019, were involved in the alleged freezing of the investigation.
Public officials, including the island territory’s governor and its current attorney general, Domingo Emanuelli, have promised to investigate the claims. On Thursday (Nov. 3), Emanuelli said that after reviewing “reports and documents related to the case” that he was referring the matter to the division of Public Integrity and Comptroller Affairs for further review.
“These are serious allegations that should be examined in greater detail in accordance with laws and regulations,” the attorney general said in a statement on Thursday.
On Tuesday, Emanuelli said “there should be no doubt that if evidence of any improper intervention arises it will be investigated, no matter who the person is. We are not going to put the integrity of the Department of Justice and its officials at risk for anything or anyone.”
Ignacio Fernández, an attorney for Vázquez, defended the former governor. “It’s an absolute lie,” Fernández tells Billboard. “Why did [Quiñones] wait three years? She had an obligation to come forward at that time. If she doesn’t have the moral rectitude to not bend to powerful people, then that is on her.”
Fernández also defended Castellón, saying “there is no way that Olga would agree to anything like that. She would investigate her own mom if she had to.” (A spokesperson for the U.S. Justice Department in San Juan, where Castellón is an assistant U.S. Attorney, had no comment.)
Quiñones’ claims that higher-ups influenced the investigation have also renewed concerns about the San Juan police department’s handling of the murder probe. A police spokesperson tells Billboard that the case was transferred this September from the homicide division to its Major Crimes division that deals with cases of “high complexity.”
One of the homicide officers originally involved in questioning witnesses, Tito Rivera Hernández, took a selfie with Ozuna at the police station in February of 2019 following a police interview with the Latin star, which Rivera Hernández later posted on his social media accounts.
Col. Roberto Rivera, the head of the investigative branch of the Police Bureau, said this week that his office had filed an administrative complaint against the officer related to his handling of the probe and had put him on leave pending results of the review. Rivera Hernández, who is currently working with a team of federal agents, would be reassigned to another police division if the federal team does not keep him on, according to El Nuevo Día, a Puerto Rican news outlet.
The colonel said that until this October no other agent had investigated the Fret case and that the time Rivera Hernández dedicated to the murder probe “was not extensive” and “not what one expects from such an investigation.” (Rivera Hernández could not be reached for comment.)
Quiñones’ allegations also add to the scrutiny on Vázquez, who was Puerto Rico’s attorney general from 2017 to 2019 and then governor of the island in 2019 to 2021. In August, the Department of Justice arrested her and charged her with bribery and conspiracy in an alleged scheme to finance her 2020 campaign. (She has plead not guilty and expects to go to trial.)
Persons of Interest
In April of 2019, police officials told Billboard that investigators were searching for “two male persons of interest” and were “using every resource at [their] disposal to find these persons,” as well as following up on anonymous tips.
That April, Quiñones interviewed Vicente Saavedra, who is president of promotion and marketing agency Dímelo Vi, as well as Ozuna’s manager, for more than three hours. She also had planned to interview reggaeton and trap singer Arcángel.
But just days later, she said this week, she received a phone call from a superior telling her to shut down the probe. “I had a list of possible suspects, which was communicated at one point to the chief prosecutor [Castellón],” Quiñones said on Cuarto Poder. “It was a list of the possible people who could have participated in Kevin’s murder.” She added that, “obviously, [Fret] was active at that time in the musical world, which was what he wanted to pursue.”
After his meeting with the prosecutor, Saavedra said the prosecutor’s questions focused only on allegations that Fret had extorted money from Ozuna over a pornographic video that Ozuna had appeared in when he was a minor. Saavedra said he was not asked about Fret’s murder and that Quiñones told him he was not a person of interest in the case. (Quiñones said publicly in January of 2019 that she was not investigating Ozuna for the slaying. A police spokesperson this week would not tell Billboard if Ozuna was a person of interest in the case because the probe is ongoing.)
Nevertheless, Rodriguez, Fret’s mother, who lives in Massachusetts, has been insistent that Ozuna and Saavedra were somehow involved. “I know that it was [Ozuna] who ordered my son to be killed, together with Vicente Saavedra,” Rodriguez said in a TV interview in April of 2019. She alleged that Ozuna and Fret, who billed himself as the first gay trap Latin singer, had engaged in an “intimate relationship.” She said she had turned over text messages of conversations between the two artists to law-enforcement officials.
Ozuna’s attorney, Antonio Sagardía, told Billboard this week that Ozuna was only questioned about an alleged extortion scheme by Fret — not about the murder itself. He was not asked back for a second interview, the lawyer said. The controversy involving the alleged freezing of the investigation “has nothing to do with Ozuna,” Sagardía said. “That’s an internal matter with the Department of Justice.” (Sagardía has said his client had “nothing to do” with Fret’s murder.)
Rodriguez has denied that her son had engaged in extortion. After Fret found a link to Ozuna’s pornographic video, “the only thing Kevin asked of him was to help him sing as a featured artist on a song,” she said. According to Rodriguez, “Ozuna said, ‘No, I’m going to give you money and I want you to send me the link so that I can erase the video.” But she added that her son wasn’t the only person that had the video. Rodriguez claimed that her son did not want Ozuna’s money and that he would never have mad the video public.
Fret’s mother said that Ozuna gave her son almost $400,000. Both Ozuna and Sagardía have said that at least one payment was made to Fret, but the lawyer put the amount at “close to $50,000.”
Almost two weeks after Fret’s death, a portion of the video in question, which depicted a teenaged Ozuna masturbating, was leaked to the internet and quickly went viral. That same day, Jan. 23, 2019, the artist apologized to his family and fans via a prepared statement, which also said he had been the victim of an alleged extortion plot hatched by Fret.
After she was told to stop questioning witnesses in early April of 2019, Quiñones says she asked for both verbal and written explanations, writing a memo to the Department of Justice asking why it was being held up. “None of my memos that I sent to the Department of Justice were ever answered,” she said on Cuarto Poder.
The recent move by the police to move the case to the Major Crimes unit, the prosecutor says, “opens another window for a full investigation.” And while significant time has passed since the slaying occurred and the evidence was fresh, she says she hasn’t “lost faith” that “eventually we will know the truth of what happened.”
For months, industry executives from Warner Music Group to Kobalt have been steadily beating a drum for investing in the Middle East and African markets.
On Thursday (Nov. 3), it it looked like the investor interest swirling around the region may be codified when Frankly magazine reported that Spotify was considering buying Anghami, the Arab-speaking world’s most popular streaming and content service. Billboard could not independently verify the report, however, and a source close to the situation refuted its contents. A Spotify spokesperson says the company has “no news to report regarding any potential acquisition.” Still, investment bankers say we are likely to see increasing investor interest and action around music assets in these markets, as song catalog prices remain elevated and the challenging macroeconomic outlook for North America and Europe slows down the pace of dealmaking there.
Financial players say that the dominant music streaming platforms and labels are looking to extend their global reach through popular streaming companies like Anghami in the Middle East and Boomplay and others in Africa because of those regions’ rapid growth, comparatively positive economic outlooks and the explosive potential for converting free subscribers to paid.
Anghami CEO and co-founder Eddy Maroun declined to comment on the acqusition reports out Thursday, but in a late-September interview Maroun confirmed the company has been approached by interested parties in the past.
“We believe what we are on to as an opportunity is big,” Maroun told Billboard at the time. “Until now we are independent, and we wish to remain independent as long as it’s in line with our company goals.”
The Middle East and North Africa (MENA) was the fastest-growing region globally last year, with revenues up 35% to $89.5 million and a market that nearly doubled between 2019 and 2021, according to the International Federation of the Phonographic Industry (IFPI). More than 95% of MENA revenues came from streaming, and paid subscribership is expected to double by 2030.
“This sends a very big message to every industry player that this is a hot region and that this is where growth is,” Maroun said in September.
Launched in 2012, Anghami is the first and most popular streaming and content company focused on Arabic-language music, with about 58% of the Middle East’s market share and around 20 million active users, according to company filings.
With investors including the Saudi Arabia-backed firm MBC Group and Middle East Venture Partners and partner Sony Music Entertainment Middle East, with whom Anghami launched a joint venture record label last year, Maroun and co-founder took Anghami public in February.
After listing on the NASDAQ through a reverse merger with a special purpose acquisition company, Anghami stocks have fallen nearly 75% to $2.56 on the NASDAQ as of Thursday. Meanwhile, the company reported first-half 2022 revenues increased by almost 30% and monthly paid subscribers rose by 41% to 1.28 million. Bank sources described that growth as “encouraging,” and say that Anghami’s low stock price could make it an appealing acquisition for companies like Spotify.
For its part, Anghami aims to diversify its business with an entertainment division that houses a content creation studio, runs Anghami’s record label, Vibe Music Arabia, and operates a chain of music venues and lounges, the first of which recently opened in Riyadh, Saudi Arabia.
In addition to MENA, music and streaming companies in Sub-Saharan Africa, where music revenues grew by 9.6% last year, are steadily gaining big industry investors.
Major labels like Sony Music Group are adding staff to local offices in West Africa — where Sony previously had just two people — and Warner Music Group is leaning further into their strategy to acquire record labels and distribution companies in Africa, one of five priorities it pitched to investors during their 2020 IPO roadshow, say bankers familiar with the matter.
“French copyrights and Latin American copyrights became popular a little earlier,” says Michael Ryan-Southern, Goldman Sachs’ global head of music and live entertainment investment banking. “Now we’re seeing more and more music coming out of these local territories and therefore [companies] need to invest to make sure they are capturing that funnel of new artists locally to exploit globally.”
In its most recent Music In the Air report, Goldman Sachs analysts said Africa presents “a significant opportunity over time” and specifically highlighted Boomplay, one of the leading music streaming services, with 60 million monthly active users and a rapidly expanding song catalog.
Sources say streaming services and other companies that provide infrastructure for music are currently more appealing investment opportunities than catalogs by popular artists in the region because investors fear those are less mature assets with unknown decay rates.
Executives from Warner Music Group, Reservoir Media, Primary Wave, Kobalt and others have called out Africa and the MENA region in their emerging markets growth strategies in recent months.
U.S.-based Reservoir Media is one of the most vocal companies about the opportunity it sees in the Middle East and Africa. With its partner, the United Arab Emirates-based independent music company PopArabia, Reservoir recently bought the Egyptian label 100COPIES, the Lebanese label and music publisher Voice of Beirut, and signed publishing deals with Egyptian rapper and singer Mohamed Ramadan, Lebanese indie singer songwriter Zeid Hamdan and Moroccan hip-hop star 7liwa.
On a recent call with investors to discuss Reservoir’s earnings, the company’s founder and chief executive Golnar Khosrowshahi said emerging markets investments are a key part of the company’s diversification strategy.
“The thing about the emerging markets is that we could do high-volume deals, but at significantly lower price tags than what we do in Europe … North America, etcetera.,” Khosrowshahi said.
Outgoing Warner Music Group CEO Stephen Cooper said in September that Warner’s share in the Africa and MENA markets has grown from 10% to 30% in recent years through partnerships with record labels and distribution companies, and it aims to continuing investing in the region.
“Great content, great entertainers, great storytelling is starting to transcend language, and there’s a recognition that the next global chart-topping songwriter can come from anywhere in the world,” says Aaron Siegel, Goldman Sachs global head of entertainment investment banking. “That is a theme that major labels and publishing companies are willing to bet on.”