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18 Oct 2023

Mexican Music’s Unstoppable Rise: How TikTok Is Transforming Latin Music (Guest Column)

One of the key themes to emerge from Billboard Latin Music Week in Miami earlier this month was the undeniable and unstoppable rise of Mexican music — a trend that’s being powered by the TikTok generation.

In an era marked by a global surge in music consumption, the revival of Latin music in the United States is nothing short of spectacular. Data from the RIAA paints a compelling picture, showing U.S.-based Latin music revenues have increased by 15% year on year to reach a record high of $627 million in the first half of 2023, accounting for 7.5% of market share. When we reflect on numbers from the first half of 2021, the leap of 52% over these two years is particularly striking. The primary impetus for this is the growing audience tuning in to Latin music on ad-supported on-demand music streaming services. This is remarkable growth in a genre characterized by non-English language songs.

The rise of reggaeton in particular has been nothing short of meteoric. The commercial success of the likes of Bad Bunny, J Balvin and Karol G has left an indelible mark on the Latin music landscape. However, it’s important to note that Latin music’s appeal isn’t confined to a single genre.

TikTok has evolved into a hub for music discovery for millions of fans worldwide, with many trending songs on the platform often ending up on the Billboard Hot 100 or Spotify Viral 50. According to Luminate, 67% of the app’s users are more likely to seek out songs on music streaming services after hearing them on TikTok.

So what trends are we now seeing in Latin music? The short answer: Mexican music is leading the charge.

Over the past 12 months alone, Mexican music has experienced more than 83 billion views on TikTok worldwide, with a third of these coming from the United States, according to hashtag research the team and I have conducted in-house at Round. In that time, Mexican music has emerged as the fastest-growing genre on the platform with an astounding 322% surge in popularity, compared to electronic music (122%), rock/indie (96%), reggaeton (90%) and rap/hip-hop (87%). Mexican music stands as the third-largest genre on TikTok in terms of viewership in the U.S., with more than 27 billion views over the past 12 months, behind only rap/hip-hop and K-pop.

Artist after artist has emerged from the Mexican music scene to take TikTok by storm — from Natanael Cano and Yng Lvcas to Fuerza Regida and Grupo Frontera. However, one in particular is paving the way: Peso Pluma.

Thanks to Eslabon Armado’s viral TikTok hit “Ella Baila Sola,” on which Pluma is featured, the rising star has emerged as one of Mexico’s most exciting breakthrough artists. The track not only hit No. 1 on the Billboard Global 200 chart, where it held for six weeks, but it also secured a No. 4 spot on the all-genre Hot 100 — an unprecedented feat for a regional Mexican song. Plus, it dominated Hot Latin Songs for 19 consecutive weeks, the longest run at No. 1 for a regional Mexican track since the tally’s inception in 1986. The song has generated 525.5 million on-demand official streams in the United States to date, according to Luminate. Moreover, “Ella Baila Sola” reached No. 1 on the overall Streaming Songs chart, becoming the first regional Mexican song to lead the list and the first No. 1 on the chart for both acts.

The undeniable catalyst in this success story has been TikTok, where Pluma has gained over 30 billion views in just 12 months and inspired over 5 million creations on the platform. In April, four of Pluma’s tracks dominated the list of top trending Latin songs on the platform in the United States.

The appeal of regional Mexican music is further broadening as tastemakers continue to upload educational videos about the genre to TikTok and Instagram Reels. That trend is helping to nurture a deeper connection to the genre, fostering long-term engagement and powering it to new heights.

So what lies on the horizon?

Round’s analysis of TikTok hashtags reveals a treasure trove of uncharted music cultures and sub-genres waiting to be discovered. For example, views of #sertanejo, a Brazilian sub-genre of traditional music, have doubled from 15 billion to 30 billion over the last 12 months globally. That nearly rivals #reggaeton, which received 33 billion views globally across TikTok over the same period.

As new trends arise, one thing remains certain: TikTok is a powerful force for promoting diversity in music and opening up international markets for local sounds. Its global reach has ushered in an era where artists can easily have their music heard by millions. Now, it’s no longer a question of if artists, record labels, brands and influencers are on the app — it’s about how they maximize its power to the fullest. The stage is set, and the world is listening.

Ray Uscata is managing director of Round, North and South America. Round is a tech-enabled digital agency using content, creators and communities to place the world’s leading brands and artists at the center of culture.

18 Oct 2023

Taylor Swift’s ‘Cruel Summer’ Deconstructed: Strategic Hooks, Intriguing Lyrics & an Emotional Connection

Taylor Swift’s “Cruel Summer” is the full package when it comes to hit songwriting. Every aspect of the song is fully optimized and firing on all cylinders so that it fully connects and resonates with the listener without ever wearing out its welcome.

What follows are a few of the song’s strongest qualities that have contributed to its success.

Notably, the song spends a 10th week at No. 1 on Billboard’s Pop Airplay chart (dated Oct. 21), marking Swift’s first double-digit-week leader on the list. It has reached a No. 3 high on the Billboard Hot 100, having become one of her 42 top 10s on the chart, the most among women. It was originally released on Swift’s 2019 album Lover before Republic Records started promoting it as a single this June.

Strategically Placed Vocal Hooks

At the heart of “Cruel Summer” are its uniquely delivered and strategically placed vocal hooks that make it an irresistible earworm of a song that keeps the listener engaged from start to finish.

The bookending intro and outro and turnaround feature the vocoder-processed “yeah” hook that serves as an instantly recognizable calling card for the song.

Both verses also feature catchy vocoder-processed vocal hooks, presented in a background manner under Swift’s lead. Together, they create a catchy call-and-response flow while cleverly conveying Swift’s conflicted desire for her love interest.

The chorus features the nonsensical “ooh, whoa-oh” hook, which achieves a few key elements: The creative, melismatic and show-don’t-tell manner in which it’s sung communicates the emotion that Swift feels without the need to outright state it; it foreshadows and subsequently reinforces the summative, “it’s a cruel summer,” song title hook that directly follows; and it showcases Swift’s vocal chops.

Meanwhile, the bridge uniquely features two standout shouted vocal hooks that are primely placed at the end each stanza: “I don’t wanna keep secrets just to keep you,” and the even more stark, “‘I love you’ – ain’t that the worst thing you ever heard?” A testament to the bridge’s overall strength is its interpolation in Olivia Rodrigo’s No. 3 Hot 100 hit from 2021, “Deja Vu,” which resulted in the writers of “Cruel Summer” – Swift, Jack Antonoff and St. Vincent – all receiving writing credits on Rodrigo’s song.

Cruel Summer

Courtesy Photo

Intriguing Lyricism

While many of today’s hits pepper in a bit of clever, metaphorical lyricism to make a narrative more engaging, “Cruel Summer” is atypically chock full of it. Every section, save for the action scene in the bridge, features an abundance of intriguing show-don’t-tell writing, as noted above, that delivers the story in a highly compelling and engaging manner.

A prime example is the pre-chorus’ “devils roll the dice, angels roll their eyes” line. Along with conveying Swift’s likely futile gamble on her bad-boy love interest, the astute Swift fan will notice that it also cleverly alludes to a board game featured in the video for Swift’s 2019 hit “Lover.”

However, as shrewd as the song’s lyricism is, it remains easy to grasp and comprehend, which is a testament to Swift’s masterful lyric-writing skills.

Emotional Connection

One of the most important qualities of a hit song is its ability to emotionally impact the listener so that it connects on a profound level and keeps ears coming back for more. One highly effective way of achieving this is through the vocal performance, instruments and lyrics all working in tandem to create a unified expression, a combination known as prosody.

In “Cruel Summer,” prosody is effectively achieved throughout the entire song. For instance, in the first verse, the synth creates a subtle, dark vibe that underscores the problematic love/relationships-themed story. In the chorus, Swift’s soaring, evocative vocals accentuate the passion she feels for her love interest. As for the bridge, the faster-paced vocals and synth pattern work in concert to bolster the anxiety-ridden, action-based lyrics.

David and Yael Penn co-founded Hit Songs Deconstructed. Earlier in October, Hit Songs Deconstructed and fellow song analysis platform MyPart publicly launched launched ChartCipher, a new AI-powered platform analyzing a deeper scope of hit songs, as defined by Billboard’s charts.

18 Oct 2023

Pras Michel Seeks New Trial, Claims Former Attorney Used AI For Closing Argument

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Pras Michel and his ongoing legal issues are far from nearing a solid conclusion after the Fugees rapper and entrepreneur requested a new trial via an explosive claim. According to a new report, Pras Michel claims his former attorney used artificial intelligence in his closing argument during the trial earlier this year that ended in the Haitian-American’s conviction.

As Politico reported, Pras Michel, who was convicted in April on several charges including witness tampering, acting as an unregistered foreign agent for China, and conspiracy, alleges that his former defense team used AI to create his closing argument in that earlier trial.

From Politico:

In a withering motion filed Monday night with a federal judge in Washington, Michel’s new attorneys argued that his Los Angeles-based lawyer David Kenner relied on the fledgling technology at critical points in Michel’s trial, contributing to “prejudicial ineffective assistance of counsel.”

Kenner “used an experimental artificial intelligence (AI) program to draft the closing argument, ignoring the best arguments and conflating the charged schemes, and he then publicly boasted that the AI program ‘turned hours or days of legal work into seconds,’” Michel’s new defense team from D.C.-based ArentFox Schiff wrote. “It is now apparent that Kenner and his co-counsel appear to have had an undisclosed financial stake in the AI program, and they experimented with it during Michel’s trial so they could issue a press release afterward promoting the program — a clear conflict of interest.”

A former publicist for Michel added that Kenner allegedly admitted that “AI wrote our closing,” which former federal prosecutor Peter Zeidenberg shared in a declaration that went with the current defense team’s motion.

Pras Michel joined his Fugees bandmates on Tuesday (October 17) for the start of a reunion tour in support of the 25th anniversary of Lauryn Hill’s acclaimed solo album, The Miseducation of Lauryn Hill.

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Photo: ANGELA WEISS / Getty

18 Oct 2023

Chiefs Coach Andy Reid Jokes He Deserves Credit for Taylor Swift & Travis Kelce’s Romance: ‘I’m Just Saying!’

Amid Taylor Swift and Travis Kelce‘s blooming romance, Chiefs coach Andy Reid joked that he deserves some bragging rights. After all, he knew the pop star first.

“I knew her from Philadelphia, her dad was a big NFL fan,” Reid said in a recent episode of Donovan McNabb’s OutKick. “So I had met her when she was real young, and her dad.”

Swift and Kelce’s love story has been playing out in front of the whole world in recent weeks, fueled by the “Anti-Hero” singer’s string of appearances at Chiefs games (where she’s often seen sharing a box suite with the tight end’s parents). Shortly after she originally broke the internet by attending her first game at Arrowhead Stadium in September, Reid quipped in a post-game press conference that he had set the pair up before quickly walking away.

“I joked about setting Kelce up, and, you know, I’m just saying!” Reid recalled Tuesday (Oct. 17), laughing.

“She’s a good girl, she’s into it,” he added. “We’re glad she’s here.” 

Reid is far from the only NFL pro with a claim to fame regarding the pair, though. Long before Kelce and Swift started dating, sports commentator Erin Andrews had taken to her podcast Calm Down, which she co-hosts with Charissa Thompson, to publicly ask the “Karma” musician to “please try our friend Travis.”

“Take us up on this — go on a date with this guy,” she’d added in the August episode, which dropped not long after Kelce first confessed that he’d tried unsuccessfully to give Swift his phone number at an Eras Tour show.

After reports surfaced that he and the 12-time Grammy winner may be dating, Kelce himself commented under one of Andrews and Thompson’s posts, “?? You two are something else!! ???? I owe you big time!!” 

Andrews recently opened up about her role in getting the pair together on TODAY, joking that she’s “the new Bumble.” “He’s got a glow to him,” she added as she reacted to photos of Kelce and Swift holding hands. “That’s a glow up, girls. He looks fantastic.”

Watch Andy Reid talk Taylor Swift and Travis Kelce below:

18 Oct 2023

Juice WRLD Estate & Dr. Luke Sued By Alleged Co-Writer Over Unpaid Profits From ‘Not Enough’

Dr. Luke and the estate of the late Juice WRLD are facing a copyright lawsuit that claims they unfairly cut out one of the co-writers of the rapper’s 2021 track “Not Enough.”

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The case, filed in California federal court Tuesday, claims that an artist named PD Beats (Pierre Orpheus DeJournette) is a credited co-writer of the song, but that Dr. Luke (Lukasz Sebastian Gottwald) and the estate of Juice WRLD (Jarad Anthony Higgins) have refused to treat him as co-owner of the copyright.

“Defendants have released, marketed, distributed, and monetized the subject song without accrediting or providing PD Beats his proportional share of the revenue,” his lawyers wrote in their complaint. “Defendants have failed to meaningfully respond, necessitating this action.”

DeJournette claims that he contributed “original guitar, performance, and production” to “Not Enough,” in addition to “writing the beats and programming the 808s” – a reference to the Roland TR-808 drum machine. Without the material he added, DeJournette says the song would be “missing key elements that form the basis of the subject song’s audience appeal.”

The lawsuit claims that DeJournette was listed as a co-writer in certain credits – although he doesn’t specify where – and that he and the other writers should “equally own the copyrights.” His lawsuit asks for a judicial declaration that he is indeed a co-owner, and a court-ordered accounting of the song’s revenue.

Reps for Dr. Luke and Juice WRLD’s estate did not immediately return requests for comment on Wednesday.

Juice WRLD, a pioneering voice in emo rap and SoundCloud rap, died of a drug overdose in December 2019 while onboard a private jet flying from Los Angeles to Chicago. Citing law enforcement sources, TMZ reported days later that the rapper swallowed a large number of pills to hide them from federal agents who were waiting for the plane to land.

Released on his posthumous 2021 album Fighting Demons, “Not Enough” spent a week at No. 80 on the Hot 100. The album itself was a bigger hit, spending 72 weeks on the Billboard 200 and peaking at No. 2.

Tuesday’s lawsuit named Juice WRLD’s mother, Carmella Wallace, as a defendant because she serves as the executor of his estate, as well as a company called Juice WRLD Music LLC. Other defendants included co-writers CB Mix (Chris Barnett) and KBeaZy (Keegan Christopher Bach); Universal Music Group, which released the song under its Interscope Records imprint; and Opus Music Group, which acquired a majority stake in Juice WRLD’s catalog in 2022.

18 Oct 2023

Jennifer Lopez & Intimissimi Launch a Lingerie Line Inspired by Her Upcoming Album: Shop It Here

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Jennifer Lopez is baring it all in a new collaboration with the Italian intimates brand Intimissimi. The new lingerie line features a collection of intimates that takes inspiration from her upcoming album, This Is Me…Now — and is even titled with the same name. The collection went live Wednesday (Oct. 18). and is available to shop now.

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As a brand ambassador for Intimissimi, this marks the second collection the “Jenny From the Block” singer has done. Lopez was involved with the design process, aiming for each bra, underwear, garter belt and more to embody the transformation and personal development she has gone through, as well as celebrating womanhood and self-expression. Plus, each style is versatile and can easily be styled with a belly chain or paired with corsets.

Right now, you can take advantage of the site’s promos, which include the new J. Lo line, such as buy three panties for $35 or six panties for $60. The collaboration is full of thongs, panties and Brazilians to choose from.

There are also more cozy options, including silk sleepwear sets you can wind down in for the night.

Keep reading to shop J. Lo’s picks from the new lingerie line or view the entire collection here.

cream lace thong

Intimissimi

Living in Luxe Thong

This luxe thong features an elegant lace strap mixed with a cotton interior and exterior topped off with a rhinestone chain that’s also removable. You can also mix and match it with the bras featured in the collection.

crystal halter chain

Intimissimi

Rhinestone Harness

Add some glimmer to your slip dresses and tops with this dainty rhinestone harness. The back comes with an adjustable chain that you can customize to fit your unique needs.

black balconette bra with rhinestone chain

Intimissimi

Living in Luxe Demi-Cup Balconette Bra

Everyone needs at least one pretty bra in their collection, and this balconette bra is worthy of being that one. The design features lightly padded cups and side boning topped off with eyelash-trim floral lace, satin detailing and a rhinestone chain for added shimmer. The straps are adjustable as well as the rhinestone chain, which you can remove if needed.

green lace triangle bra

Intimissimi

Be Your Own Muse Lara Triangle Bra

Elegance and simplicity are combined in this triangle bra that has a mix of lace and tulle materials for added comfort and support. The bra is unlined and comes with a removable hummingbird-shaped gold charm for extra style.

beige garter belt with rhinestone chain

Intimissimi

Living in Luxe Garter Belt

Bringing all the chicness is this garter belt featuring a rhinestone chain and four straps that’ll help keep your stocking from constantly rolling down your legs.

black lace halter babydoll

Intimissimi

Living in Luxe Tulle and Lace Babydoll

As Beyoncé would say, you’ll really be “feelin [yourself]” once you slip on a lace babydoll like this one. It features a lace upper and lightweight, sheer skirt you can pair with one of the panties from the collection. Plus, the added rhinestone strap will bring some extra sparkle.

green lace babydoll

Intimissimi

Be Your Own Muse Tulle and Lace Bodysuit

This lace bodysuit makes the perfect sexy layering piece that you can wear alone with some fishnet tights, or pair it with your go-to leather pants for an elevated look.

To celebrate the launch, J. Lo showed off the range of intimates to choose from on Instagram.

“Introducing my @IntimissimiOfficial THIS IS ME…NOW collection ✨ From Verona to Hollywood and made with love ? ? @NormanJeanRoy,” she captioned the photos.

The singer-songwriter isn’t the only star to join new lingerie campaigns, either. Cardi B just starred in a new SKIMS campaign, and before that, Nelly Furtado took the spotlight in a SKIMS campaign as well. So if you were looking for some celebrity-approved underwear and bras, now’s you time to stock up.

For more product recommendations, check out our roundups of the best pleated skirts, denim dresses and platform heels.

18 Oct 2023

10 Records Michael Jackson Set in His Heyday and Whether He Still Holds Them, Shares Them or Lost Them

The King of Pop rewrote the record book, but records are made to be broken.

Michael Jackson

Michael Jackson en concierto alrededor de 1986.

Kevin Mazur/WireImage

Drake made Billboard chart history on Monday (Oct. 16) when his latest single “First Person Shooter” (featuring J. Cole) entered the Hot 100 at No. 1. This allowed Drake to tie Michael Jackson’s record as the male solo artist with the most No. 1s (13) in the chart’s 65-year history. This had to have been a big moment for Drake, who landed his first Hot 100 hit, “Best I Ever Had,” in May 2009, just one month before Jackson died.

Drake is known to be a chart-watcher. “I’m one away from Michael,” he boasts in “First Person Shooter” (a boast that became outdated the moment the record hit No. 1). Jackson, who was also an avid chart-watcher, had a similar experience in March 1988 when he landed his 10th No. 1 hit, “Man in the Mirror,” which allowed him to tie Stevie Wonder’s then-record for the most No. 1 hits by a male solo artist. Jackson later added three more No. 1 hits to his tally: “Dirty Diana,” “Black or White” and “You Are Not Alone.”

We should point out that Jackson was the only billed artist on 12 of his 13 No. 1 hits. The exception was “Say Say Say,” on which he had co-equal billing with Paul McCartney. By contrast, Drake has been the only billed artist on just five of his 13 No. 1 hits. He has teamed with credited featured artists on five more. On his remaining three No. 1 hits, Drake was a featured artist behind Rihanna (two hits) and Future (one).

Jackson set many records in his 1980s heyday. We decided to see which of those records he still holds, which he must now share and which have since been broken.

18 Oct 2023

Kelly Clarkson Talks Leaving ‘The Voice’ and L.A.: ‘I Thought I Was Making a Horrible Decision’

Kelly Clarkson needed a reboot, so she did what a lot of people do when they feel like shaking up their lives: she moved. But in her case, the Burleson, Texas-born singer and talk show host who lived and worked in Los Angeles for 20 years pulled up roots and moved as far away as possible and is rebooting her life in New York.

With a new Rockefeller Center space for her eponymous daytime talk show — which kicked off its fifth season on Monday — the divorced mother of two young children is now closer to her extended family in North Carolina and fully into living her best life in the city.

“At this point, I’m 40 years old. Mama rented something nice!” Clarkson told USA Today. “I was like, ‘I’m not living here unless it’s right by the park and really nice for the kids.’” And though Clarkson has been doing all the New York things, including cheering for her Dallas Cowboys as they stomped the N.Y. Giants last month and watching her friend Chelsea Handler do standup at the Beacon Theatre.

And as much fun as she’s having, the singer, 41, told the paper that after finalizing her divorce from ex-husband Brandon Blackstock last year she wasn’t sure the mid-life time zone refresh was a great idea. “I’ll be real honest: I thought I was making a horrible decision,” Clarkson said of her nerves before pulling up stakes. “I knew I needed a fresh start and couldn’t be in LA. I really wanted to be in Montana, but you can’t really do a show from there quite yet. So I was like, ‘The only other option would probably be New York.’”

But after a couple of weeks, she said she realized she “genuinely” loves New York, “and I love that my kids love it,” she said of daughter River Rose, 9, and son Remington, 7. She immediately leaned in on the show, spotlighting some quintessentially N.Y. apartment/hotel door people during a taping last week in her new space, which was formerly home to David Letterman’s late night talk show.

Clarkson also talked about learning how to dial back her over-busy calendar, which included leaving her spot in a red chair on The Voice last spring after exhaustedly grinning and bearing it for the first four years of her talk show. “Full disclosure, I put on a smile a lot of those times because I was struggling a lot in my personal life,” Clarkson said. “I’ve learned a lot about what I’m capable of handling, and also what you should not handle. That was me saying ‘bye’ to The Voice and having this big move. I love that family, but I was like, ‘I’m struggling. I can’t smile anymore. I don’t feel like smiling.’”

Now, with the move and season five of the show on the air, Clarkson said she’s in “such a great place,” with her kids, her new home, the show and in her personal life. “I feel like a weight has lifted. That move was very needed,” she said. “I think the thing I’m most excited about with Season 5, on a selfish level, is just showing up to work smiling and actually meaning it. That’s a beautiful gift that you don’t realize until you’re out of it.”

18 Oct 2023

Luminate Will Incorporate Direct Physical Sales Data From Indie Retailers Starting in 2024

Billboard‘s data partner Luminate is improving the way it collects and reflects album sales data from independent music retailers.

This week, Luminate revealed to all clients that in week 1 of 2024 (the reporting week that begins Dec. 29, 2023), data on physical sales (vinyl, CDs and cassettes) will reflect a direct representation of those reported from indie retailers in the United States and Canada. In the past, Luminate was unable to gather direct sales data from those retailers on a weekly basis, instead employing a modeled methodology.

The improved data will be incorporated into the Billboard charts beginning week 1 of 2024.

Along with communicating this information to retailers directly, Luminate is working with several associations supporting indie music retailers to ensure that instructions are clear and as simple as possible for accurate data reporting. The company is also working directly with major label groups to encourage indie retailers to submit data in order for in-store marketing efforts to be as effective and mutually beneficial as possible.

All indie retailers who wish to provide data can visit Luminate’s partner page at https://luminatedata.com/partners to learn more.

The effort is Luminate’s latest in its continued mission to provide more accurate data to the music industry. At the Music Biz conference in May, the company unveiled a new and improved platform that includes enhanced search functionality, more comprehensive artist metadata, the addition of market-level data from specific countries and support for additional forms of consumption including short-form video and gaming.

Luminate is an independently operated company owned by PME TopCo, a PMC subsidiary and joint venture between Penske Media Corporation and Eldridge. Billboard is an independently operated company owned by PME Holdings, a subsidiary of PME TopCo.

18 Oct 2023

Round Hill Music Fund Investors Approve $469M Sale to Concord

Round Hill Music Royalty Fund’s shareholders voted on Wednesday to sell the fund’s assets to U.S.-based music company Concord in a deal that values the company at $469 million. Of the 69% of Round Hill Music shareholders who were eligible to vote, 99% voted to approve the sale, which fund chairman Robert Naylor called a “resounding endorsement.”

“The strength of support shown by shareholders in their vote for this transaction (shows) the value that we have been able to deliver on their behalf since the IPO of the Round Hill Music Royalty Fund in November 2020,” Naylor said in a statement. “It reflects the quality of the management and the portfolio that the transaction has concluded so efficiently and with a counterparty of the calibre of Concord.”

The deal, first announced in early September, means Concord will pay investors $1.15 a share and give Concord access to a catalog of 150,000 songs. On the day the deal was announced, Concord’s offer presented a more than 67% premium to the fund’s share price of $0.69 on Sept. 7.

While the fund’s share price has soared since then — it closed at $1.15 on Oct. 18 — the deal presented investors with a premium opportunity to get out of the fund, which fell more than 31% from its initial public offering in November 2020 to Sept. 7. Concord buys the fund’s assets at an 11.5% discount to the portfolio’s net asset value.

The deal was widely expected to receive shareholder approval after a group of shareholders representing 33% of shares that was led by Josh Gruss, Round Hill Music co-founder and CEO, voiced support for the deal.

Investors of music royalty funds will be watching for the results of another portfolio sale by rival London-listed fund Hipgnosis Songs Fund next week. Hipgnosis Songs investors will vote on whether to continue or wind-down the fund, as well as whether to approve the sale of roughly 20% of the fund’s portfolio to a privately held sister fund that is backed by the private equity fund Blackstone. That vote will be held Oct. 26.