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Concord is an advanced talks to acquire music distributor Stem, according to multiple sources close to the talks.
Los Angeles-based Stem is a 10-year-old digital distributor that gives independent artists ownership of their works and retains a distribution fee. Nashville-based Concord has vast music publishing and recorded music catalogs that include the compositions of Rodgers & Hammerstein, classical music publishing company Boosey & Hawkes, and the catalog of Round Hill Music, which it purchased in 2023 for $469 million.
Financial terms are unknown, but a report at Music Business Worldwide claims the deal could reach $50 million. The Hollywood Reporter cites sources as saying that figure “is wildly inaccurate” and that negotiations could result in a partial sale.
Stem would help Concord in its ambition to develop its frontline business. While Concord’s annual revenue is split roughly 50-50 between its publishing and recorded music divisions, it has notched more publishing hits, such as Miley Cyrus’ “Flowers,” which Concord owns a piece of through Tyler Johnson’s co-writing credit. In September, Concord merged its Concord Records and Fantasy Records into a single label, naming Margi Cheske and Mark Williams as co-presidents.
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Concord’s frontline record label business includes Rounder Records, Concord Jazz, Fearless Records, Concord Theatrical Recordings and the Kidz Bop franchise. Concord also has joint ventures in Loma Vista Recordings with Tom Whalley; Easy Eye Sound with Dan Auerbach; and PULSE Records with PULSE Music Group. Launched in 2023, PULSE Records saw major success with Tommy Richman’s 2024 hit “Million Dollar Baby.” Billboard estimates the song generated $4.99 million from on-demand audio streams and digital song sales, based on Luminate data.
Stem, which raised $40 million in three fundraising rounds from 2017 to 2022, has been looking for a strategic investor since at least last year to give it access to more funding for artist advances after losing a series of stars to major labels. Competition for artists seeking distribution deals had picked up enough that Stem “lost numerous deals historically as it wasn’t able to be competitive with advances,” according to a Stem pitch deck Billboard obtained in 2024.
In 2023, Stem secured a $250 million credit facility from Victory Park Capital to expand its advance check product, which has funded projects by Brent Faiyaz and Justine Skye. That line of credit was “restrictive,” a source with knowledge of the company tells Billboard, because it was doled out on a deal-by-deal basis, requiring each artist’s project to recoup its own advance. Lewis says a better option is to borrow against the whole company’s balance sheet so that if one artist’s project flops, the loan can be repaid by a successful one.
“Music is a hit-driven business, and you need to have capital that understands that and is willing to allow you to take the risk across multiple projects, knowing that the overall portfolio will perform,” this person says.
It was for that reason that Stem was looking for equity investors rather than debt. Outside investors, many from the venture capital world, already own a majority of Stem’s equity. Stem’s decision to provide artists with advances came at a time when interest rates were lower than they are today, and one industry source speculates that rising interest rates were a pressing matter for Stem. Concord would likely be able to provide Stem with a lower cost of capital, this source tells Billboard. Concord has raised more than $3 billion from three asset-backed securities led by Apollo Global Management.
Warner Music Group (WMG) has also been in the market for a distribution company, having passed on an opportunity to acquire TuneCore owner Believe in 2024. But speaking at a Morgan Stanley conference on Monday (March 11), WMG CEO Robert Kyncl suggested the company could build rather than buy a distributor at the going rates. “I’ve looked at all distribution companies over the last 18 months … and what I can tell you is that we’re not willing to grow this at all costs,” Kyncl said.
The U.K. streaming market rose to record levels in 2024 as it crossed the £1 billion ($1.28 billion) revenue barrier for the first time, according to annual figures from labels trade body BPI published Wednesday (March 12).
Subscription, ad-supported and video-streaming revenue totaled £1.02 billion ($1.3 billion) to make up 68.1% of the country’s recorded music revenue, a rise of 5.7% compared to the previous year. In an accompanying statement, the BPI suggested that the increase is in part the result of multiple streaming platforms raising their subscription prices.
Combined with sales of physical music and digital downloads, along with synch and public performance revenue, the U.K. recorded music market saw total revenue rise 4.8% to £1.49 billion ($1.9 billion), marking a decade of continuous growth. The report notes that since 2014, annual streaming revenue has increased by more than 800% to become the dominant format for recorded music in the U.K.
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The 2024 revenue figure is the highest ever achieved in the U.K. in one year. However, after adjusting for inflation, annual revenue is still hundreds of millions of pounds lower compared to where the music industry should have been in real terms since 2006, the first year when public performance and synch were included in the annual total, reports the BPI.
Breaking down streaming revenue, ad-supported streams enjoyed the biggest annual growth in the market last year with an 8.9% increase to £77.9 million ($100 million). However, paid subscriptions to services such as Amazon, Apple, Spotify and YouTube continue to make up the vast majority of total streaming revenue, bringing in £875.5 million ($1.13 billion) in 2024.
Although the physical market generated more revenue in the U.K. than in any year since 2017, growth slowed last year despite high vinyl and CD sales of new albums by artists including Coldplay (Moon Music), Sabrina Carpenter (Short n’ Sweet) and Taylor Swift (The Tortured Poets Department). Total revenue from vinyl, CD and other physical music formats increased by 1.3% in 2024 to £246.5 million ($317.9 million) after climbing 12.8% the year before. Within this, revenue generated by vinyl LPs rose by 2.9% to £145.7 million ($188.2 million), while CD revenue fell by 0.5% in 2024 to £96.7 million ($124 million).
Despite slowing growth in physical formats, the BPI attributed the continued strength in vinyl partially to the enthusiasm of new generations of music fans. In 2024, eight of the year-end top 10 across vinyl were current records, led by Chappell Roan (The Rise And Fall Of A Midwest Princess), Charli XCX (Brat) and Fontaines D.C. (Romance). In 2014, half of the top 10 sellers were catalogue titles.
At the start of the decade, CD revenue in the U.K. suffered from a series of year-on-year double-digit percentage declines, but over the last three years, it has stabilized. Like vinyl, the CD market is led by new releases.
Elsewhere, public performance revenue climbed 5.6% year-on-year to £161.7 million ($206.5 million), while synch revenue ended the year with a new annual high of £43.9 million ($56.7 million).
In terms of individual songs, four singles generated more than 200 million audio and video streams last year: Noah Kahan’s “Stick Season” with 233.1 million streams, Benson Boone’s “Beautiful Things” with 219.3 million streams, Carpenter’s “Espresso” with 202.8 million streams and Teddy Swims‘ “Lose Control” with 201.6 million streams. Kahan and Carpenter’s tracks each spent seven weeks atop the Official U.K. Singles Chart, while Boone enjoyed two weeks atop the summit. Swims, meanwhile, peaked at No. 2 but earned the most-downloaded single of 2024 in the U.K., with 67,000 units sold.
More than a dozen other tracks scored over 100 million audio and video streams in the U.K. in 2024. These included “Stargazing”, the breakthrough hit by BRITs Rising Star 2025 winner Myles Smith, as well as releases by fellow British artists Cassö, RAYE, D-Block Europe (“Prada”), and Artemas (“I Like The Way You Kiss Me”).
Despite gains in each area of the U.K. recorded music market, Dr. Jo Twist, BPI’s CEO, stressed the importance of raising awareness around the government’s potential future approach to generative artificial intelligence training. At present, a data mining exception to copyright law is being discussed, meaning that AI developers could use songs for AI training in instances where artists have not “opted out” of their work being included.
Last month, over 1,000 artists, including Kate Bush, Damon Albarn, Annie Lennox and Hans Zimmer, contributed to a new “silent” album to protest this proposal. Titled Is This What We Want?, the album featured recordings of empty studios. In an accompanying statement, the use of silence was said to represent “the impact on artists’ and music professionals’ livelihoods that is expected if the government does not change course.”
“After a decade of growth, it is all too easy to take for granted the success of UK recorded music and the vital role record businesses play in this, underpinned by copyright, by investing billions to nurture and promote diverse talent from across the UK,” said Twist in a statement. “But in the face of intensifying global competition, it’s essential they’re empowered by a supportive policy environment to keep British artists on the world’s top step.
“Crucially, this requires the exciting potential of AI to be realised by the government safeguarding the UK’s gold-standard copyright framework and not siding with global big tech at the expense of human artistry and our world-leading creative industries,” Twist continued.
Two-time CMA entertainer of the year winner Luke Bryan has notched 26 No. 1 chart-toppers since his debut in 2007 with “All My Friends Say,” so it’s safe to say he’s knows a thing or two about choosing a hit song.
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But every artist has songs they’ve passed on and later regretted not recording. For Bryan, one of those songs is a certain Morgan Wallen hit that reached No. 1 on the Country Airplay chart in 2022.
During an appearance on radio/media personality Bobby Bones’ BobbyCast, Bryan discussed passing on the song. “There was a point in my career where I had sang about trucks enough to where I…I passed, stupidly, on the Morgan [Wallen song] ‘Sand in My Boots,’ because it had Chevrolet in it,” Bryan said, referring to a line in the song’s chorus that goes, “But now I’m dodging potholes in my sunburnt Silverado.”
Asked by Bones if the song had too much truck imagery in it for Bryan at the time, Bryan said, “I just went through two years of my life where I was like, ‘I sing about trucks a lot, I sing about tailgates.’ I think I got in my head a little bit because I think I had a lot of negativity, socially, on socials, that I was getting pegged as maybe a one trick pony in that lane.”
“You’re also a victim of your own success,” Bones noted, to which Bryan responded, “Which happens…I’ll take that any d— day of the week.”
In the interview, Bryan would go on to note the pros and cons of building a hit career that features so many light-hearted hit songs such as “Country Girl (Shake It For Me)” and “That’s My Kind of Night,” combined with his outgoing personality–though Bryan has also released more somber songs including “Do I,” “Drink a Beer,” and the fan-favorite “We Rode in Trucks.”
“I think no matter how people wanna categorize me, I think generally think my personality is ‘Let’s have some fun,’” Bryan said, saying he felt that though his hit songs and megawatt personality have drawn in legions of fans, those same attributes caused him to be overlooked at times when it comes to certain awards categories.
“If I don’t get male vocalist of the year, and Grammys or whatever because I may be known as the guy that has had fun through throughout his career and put out a lot of fun songs, I’m cool with that,” Bryan said. “I think, vocally, I may have been overlooked for that party-ness. I think there’s stuff out there that I’ve done vocally, that certainly it’s not Chris Stapleton vocals and Ronnie Dunn vocals and the guys who are really, really known as vocalists, but I think I might have gotten overlooked in that a little bit, which is fine.”
Still, knowing the grind it takes for any rising artist to truly see their career take off, he feels his personality has been a key factor in his rise to hitmaker and headliner. “Every artist that makes the leap from throwing out some radio hits, they’ve gotta have something that takes them to that…I didn’t ever know I’d be like what’s termed a ‘superstar’…Every time somebody introduces me as ‘Country Music superstar, Luke Bryan,’ it still freaks me out. I’m still like, ‘How in the hell did I pull that title off?’ So when you look at somebody that goes from climbing, digging, digging…one hit, two hit, three, four, then next thing you know they blow up to be a superstar, there’s something about ’em that made that happen. And with me, I think it was my personality and willingness onstage to just go for whatever, to dance and cut up. I think that was different enough to set me apart.”
See Bryan’s full appearance on the BobbyCast below:
Legendary rock outfit Guns N’ Roses are plotting their return to India after a 12 year absence, working with Indian concert promotion company BookMyShow Live. The band’s return is scheduled for May 17 at Mahalaxmi Racecourse — typically used for horse racing — in Mumbai. Live Nation, the band’s global tour promoter, is co-producing the […]
Carín León adds his seventh No. 1 on Billboard’s Regional Mexican Airplay chart with his latest single, “El Amor de Mi Vida,” as the song jumps from No. 3 for its first week atop the ranking, dated March 15.
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“El Amor de Mi Vida” crowns Regional Mexican Airplay after a 40% surge in audience impressions, to 8.2 million, earned in the U.S. during the Feb. 28-March 6 tracking week, according to Luminate. That swell makes it the Greatest Gainer of the week, a weekly award for the song with the greatest increase in plays at the format.
Before “El Amor de Mi Vida,” León managed six other champs among 13 top 10s and a total of 17 career entries on Regional Mexican Airplay. His breakthrough cut “Me La Aventé” reached No. 6 high in 2019. He has placed at least one top 10 every year since.
“El Amor de Mi Vida” races to No. 1 in four weeks, the fastest for any track this year, and the fastest among all of León’s seven rulers on Regional Mexican Airplay. The next-fastest climb to No. 1 this year came when Calibre 50 reached the summit in six weeks, through “El Sueño Americano” (chart dated March 1). Four other songs captured the top spot in 2025, all in seven weeks or more.
Here’s a look at Leon’s collection of No. 1s, from the fastest to the slowest climb to the top:
Weeks to No. 1, Title, Artist, Peak Date, Weeks at No. 14, “El Amor De Mi Herida,” March 15, one (so far)six, “Que Vuelvas,” with Grupo Frontera, Jan. 28, 2023, sixsix, “Alch Si,” with Grupo Frontera, March 2, 2024, oneseven, “Ojos Cerrados,” with Banda MS, March 5, 2022, three12, “Indispensable,” Aug. 19, 2023, three13, “Según Quién,” with Maluma, Dec. 16, 2023, one14, “El Tóxico,” with Grupo Firme, Sept.11, 2021, two
Elsewhere, “El Amor de Mi Vida” rallies 11-2 on the overall Latin Airplay chart. There the single reached 8.2 million in audience, up 32%, León’s highest rank since “Según Quién,” with Maluma, parked at No. 1 for four weeks in December 2023.
Danny Ocean and Kapo nab the No. 1 spot on Billboard’s Latin Pop Airplay chart thanks to their maiden collab, “Imagínate,” which advances 3-1 on the March 15-dated ranking. Kapo locks his first No. 1 on the tally, Ocean grabs his second.
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For the tracking week Feb. 28-March 6, “Imagínate” registered 6 million audience impressions in the U.S., sparked by 19% growth from the week prior, according to Luminate. The song takes the Greatest Gainer honors, awarded weekly to the song with the largest audience increase.
“Thank you all for the unconditional support and for helping us achieve this No. 1 with Kapo,” Ocean tells Billboard. “It’s so nice to see how a song that talks about taking that person you love to that place you miss so much connects so strongly with everyone.”
Ocean’s “Imagínate” was released Nov. 7, 2024, on Atlantic/ Warner Latina. It debuted at No. 14 last December and has spent 11 weeks in the top 10 out of its 12-week span.
“Extremely happy with everything surrounding ‘Imagínate,’” Kapo tells Billboard. “This is a song that we composed with great enthusiasm, that flows, and thank God we were able to connect so well with Danny. He’s an artist that I have admired and respected for a long time. It’s an honor to record a song with one of your favorite artists, and for it to become a hit.”
With “Imagínate,” Ocean takes his second Latin Pop Airplay chart topper in less than a year, after “Amor” ruled for two weeks in June 2024. In between the latter and “Imagínate,” the Venezuelan rose as high as No. 6 with “Ley Universal” last October. In sum, Ocean has managed five top 10s.
As for Kapo, “Imagínate” marks his maiden No. 1 on the Latin pop radio ranking. The Colombian launched his charts career in August 2024, when “Ohnana” populated the charts, snatching his first No. 1 on any Billboard ranking last November. The song ruled Latin Rhythm Airplay for 11 weeks. He soon placed four other top 10s, including “Imagínate” which lifts 7-5 on the current chart.
The song joins two other Kapo songs in the top 10 on Latin Rhythm Airplay, “Uwaie,” for its second week at No. 4 high and “Más Que Tú,” with Ozuna, a 9-8 jump.
“We are so proud of our fans, who are the ones who take us to No. 1,” Kapo adds. “This is incredible, and we are extremely thankful with the fans, our team and with Billboard.”
Kapo has much to celebrate this week. In addition to his first No. 1 on Latin Pop Airplay, he announced today (March 11) the launch of his first tour ‘Por Si Alguien Nos Escucha’ through CMN (Cárdenas Marketing Network). The 24-date run is set to start in Jacksonville, Fla., on Mar. 13 and wrap up in Chicago on May 25.
Chicago’s ARC Music Festival has announced a sprawling 2025 lineup featuring nearly 100 artists. The fifth edition of the house-focused festival will feature performances by Jamie xx, Amelie Lens, Adam Beyer, Richie Hawtin, John Summit, Luciano, Fisher, Blond:ish, Eric Prydz (who will play under this name and also do sets under his Pryda and Cirez D aliases) […]
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With his latest album, At The Church Steps officially out on the streets and making noise, Jim Jones isn’t letting up on dropping new videos in support of the project and for his latest offering linked up with some of his rap peers for one of the album’s fan favorite cuts.
Partnering up with the likes of Dyce Peso and Keen Streetz for the visuals to “Hoodie Season,” Jim Jones and company take to the club to get things turnt up and proceed to pop some bottles, smoke some bud and rub elbows with the likes of Marlon Wayans and Rick Ross. They don’t call Jim Jones the OG YN for nothing, b.
Elsewhere his one-time former label mate, Memphis Bleek is living his grown man life and in his clip to “Still Roc,” Bleek takes a trip out to the Dominican Republic where he lays up at a fancy cabana and sports his OG Roc-A-Fella chains to show that his allegiance is now and forever will be to the Roc.
Check out the rest of today’s drops including work from Dave East and Ransom, Killah Priest, and more.
JIM JONES FT. DYCE PESO & KEEN STREETZ – “HOODIE SEASON”
MEMPHIS BLEEK – “STILL ROC”
DAVE EAST & RANSOM – “AUDUBON BALLROOM (PART 2)”
KILLAH PRIEST – “MUSTARD SEED”
SLIM THUG & PROPAIN – “NAWF & THE SOUTH”
PARIS NIGHTS – “HURRICANE”
NEMS – “AMOUNA”
JAY CRITCH – “HIGHER”
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Source: Tomohiro Ohsumi / Getty / Xbox
Even though Xbox is not doing so well in the console market this generation, don’t count out the Microsoft gaming division just yet, they still have something to offer.
Windows Central’s Jez Cordon exclusively reports that Microsoft plans to launch the next-gen Xbox console in 2027 and an Xbox-branded handheld sometime in 2025.
According to the website, a partner PC gaming handheld codenamed Keenan is currently in the works for late 2025 while a next-gen successor for the Xbox Series X and S consoles is two years away.
IGN reports that Microsoft has yet to comment on the report, but company executives have been dropping breadcrumbs about Xbox’s plans in numerous interviews.
Per IGN:
Microsoft is yet to comment on the report, however its gaming executives have spoken publicly about both devices in vague terms across various interviews. In January, Jason Ronald, Microsoft’s VP of ‘Next Generation,’ told The Verge that the company plans to combine Xbox and Windows experiences together for PC gaming handhelds made by original equipment manufacturers (OEMs), otherwise known as third-party hardware manufacturers. Existing PC gaming OEMs include Asus, Lenovo, and Razer. Keenan does not relate to a first-party Xbox handheld, which Microsoft gaming boss Phil Spencer recently indicated is years away.
As for the next-gen Xbox, Windows Central said it is fully greenlit by Microsoft CEO Satya Nadella. The console is reportedly a premium successor to the Xbox Series X, and this console, alongside a first-party Xbox gaming handheld and new controllers, are set to round out Microsoft’s console offering in 2027. The suggestion, then, is Microsoft does not plan to release a direct next-gen successor to the less powerful Xbox Series S. Perhaps Microsoft expects its handheld to occupy the cheaper, less powerful console space.
According to Windows Central, the next Xbox will be more like a PC and will support third-party storefronts like Steam, the Epic Games Store, and GOG. Backwards compatibility, a popular feature, will also return.
We are curious to see this handheld. There is also that other console that leaked, Brooklin, which is still up in the air, with some wondering if Microsoft canceled it.
Only time will tell regarding what the gaming company has up its sleeve as it concedes this gaming generation, and looks forward to the future.
Ne-Yo has been in the news lately and it’s not for his music. Apparently, the R&B star is in a polyamorous relationship with four other women which he recently introduced to the world on his Instagram — and they each have a cute little nickname. “Since the world is so intrigued,” he wrote in a […]