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03 Feb 2023

Jay-Z Strikes Deal With Bacardi to End Billion-Dollar Legal Battle Over Shared Cognac Brand

After months of fighting in court, Jay-Z and Bacardi have decided it’s all cognac — er — water under the bridge.

The superstar rapper and the spirits giant said Friday they had reached an agreement to end bitter litigation over their D’Ussé Cognac brand. Under the deal, Bacardi will take over a “majority interest” in the company, which was previously split 50-50 between the two stakeholders.

The exact terms — what percentage Bacardi bought and how much Jay-Z was paid for it — were not disclosed, beyond a statement that the star would “retain a significant ownership stake” after the deal. Earlier filings in the case suggested the privately-held company could be worth as much as $5 billion.

In a statement, Jay-Z (real name Shawn Carter) said he was “excited to renew this partnership with Bacardi.”

“Growing D’Ussé over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” the rapper wrote. “The next phase of this journey will further cement D’Ussé’s legacy as one of the world’s most respected brands.”

Until recently, Jay-Z was not at all excited to renew his D’Ussé deal with Bacardi. The rapper has spent the last year in a sprawling legal battle aimed at exiting the partnership, spanning at least four lawsuits in two states as well as private arbitration cases.

The dispute centered on Jay-Z’s exercise of a so-called “put option” — a legal mechanism in the joint venture’s operating agreement that, when triggered, required Bacardi to buy out his half of the business. Once invoked, the two sides were supposed to negotiate in “good faith,” exchange information and agree on a fair price for Bacardi to pay.

The rapper triggered the put option in September 2021, but the two sides quickly came to loggerheads over how much his half of the company was worth. The rapper suggested his half of the business was worth $2.5 billion; Bacardi said the number was just $460 million.

That core dispute eventually led to two private arbitrations, as well as lawsuits in both New York and Delaware courts. The two sides battled over what information should be used to fairly value Jay-Z’s stake, and he later accused Bacardi of “lowballing” and “stonewalling” him to get a cheaper price.

In November, unsealed court documents revealed key details of the months that had led up to the dispute.

For instance, when Bacardi offered $460 million for Jay’s half of the business, the hip-hop magnate’s attorneys said he responded by flipping the script. Rather than continue to invoke his put option requiring Bacardi to buy him out, they said he offered to go vice-versa and buy out Bacardi’s share for $1.5 billion — far more than the figure Bacardi had just cited as the fair value of half the company.

When Bacardi turned down that offer, the legal battle kicked off.

03 Feb 2023

Banda MS Marks 20th Anniversary With ‘A Lot of Tequila‘ and Pride That ‘Most of Us Who Started in 2003 Continue Together’

This year, Sergio Lizárraga’s Banda MS marks two decades in the music business, and it’s kicking off its celebrations with “Un Chingo de Tequila,” a song featuring Mario Domm — from Mexican pop group Camila — who was eager to test the waters of the Regional Mexican genre. Written by Domm, the track debuts Friday (February 3) at 5:00 pm ET.

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“About a year ago I wrote a song and I thought it was something very different from all I had done in my life and I asked myself who was the most important banda artist, and immediately I thought of Banda MS. It’s something new for me; I’m singing something different, new, but I feel comfortable doing it. I am happy to collaborate with Alan, with Walo, in short, with the whole team that has been incredible with me”, Domm says to Billboard Español.

In recent years, the band from Sinaloa, Mexico has recorded with pop artists like Yuridia and Carlos Rivera. According to Banda MS’s singer Oswaldo “Walo” Silvas, when it comes to collaborating, the main thing for him is to admire the other artist’s career, so that there is a connection.

“Mario Domm is definitely one of my favorite artists. I’m a fan of him and Camila — so when the opportunity to do this collaboration came about, we were very excited, being aware of the quality of what was going to be done,” says Silas. “When I heard the song, I was sure it would be a hit. I think people who are experiencing a heartbreak will relate perfectly, and I assure you it will be the song they’ll listen to on many a night of leisure and enjoyment. We’re grateful to Mario and to all who made this possible.”

“Un Chingo de Tequila” is a song about heartache that combines the bravío and very Mexican style of Banda MS with Domm’s and Camila’s romantic pop. Much tequila is added to these ingredients, and though liquor is no way to heal a broken heart, according to the song, at least it helps you not think about it. “A shot of tequila to forget/ Distance, time and someone else taking your place/ So that you never forget when you lied to me/ So that you regret what you have lost,” the lyrics go, in Spanish.

But this track is just the beginning of a year of celebrations, which will include new collabs with artists as varied as Ice Cube (check out the announcement on Instagram), as well as Christian Nodal and again, Yuridia. It also includes a 35-date tour, kicking off February 5 in León, Mexico and ending on December 2 in Fort Myers, Florida. On September 2, they will return to Madison Square Garden in New York, where they’ve previously sold out two shows — the only band from Sinaloa to achieve that. (Tickets are already on sale in Mexico and the U.S.)

Over the years, Banda MS has sold more than 30 million records. It currently has 14 million monthly listeners on Spotify and its YouTube videos have amassed more than 2 billion views. On the Billboard charts, it’s had dozens of entries, including 10 top 10s on Hot Latin Songs, 23 top 10s on Latin Airplay and 18 No. 1s on Regional Mexican Airplay. Its album Que Bendición made it to the Billboard 200 albums chart, debuting and peaking at No. 71 in February 2016. It also reached No. 1 on Top Latin Albums, where it led for three weeks.

Banda MS’ story is a shining example of how an empire can be built from scratch. Thus, after more than a decade of being a part of an international record label, the group chose to create its own. Established in 2016, Lizos Music is an award-winning company that has become a benchmark for the Regional Mexican genre and among independent labels.

Below, the CEO and leader of Banda MS, Sergio Lizárraga, talks to Billboard Español about their career and the plans for this year’s celebrations.

How do you summarize what has happened with Banda MS these last two decades?

The truth is I feel proud that most of us, who started in 2003, continue to be together and continue together well. Saying what needs to be said, respecting ourselves, improving ourselves, wanting to continue innovating and moving forward. Twenty years is a life; so many things have happened that we have to celebrate it in a big way, and nothing better than celebrating it with this tour we’re now about to start. But above all, being at the Mazatlán carnival this February 18 is the icing on the cake for us. In addition, we will return to Madison Square Garden in New York in September, and on September 15 we will also celebrate the national holidays in Las Vegas with our fellow Mexicans.

How did the approach to Mario Domm for “Un Chingo de Tequila” happen?

The way I like it — organically. We met one day and talked about doing a song together; time went by and we met again in Los Angeles, and that’s when we had a deal. He went to Mazatlán and there we finished putting together the song that we’re sure both audiences will like.

Lizos Music has shown that success in the Regional Mexican genre can be achieved by being independent.

We can say that it was our job to team up and move ahead, but in this world no one is totally independent; there are many people around who have been a part of what has happened. We have worked very well as a label and as artists. This includes order and discipline, but above all, overcoming problems that arise.

How have you adapted to the new trends in music?

You have to always be aware of what’s going on, what is new — but above all you must be open to everything. That’s what we have done and it has worked. The proof is in collabs like [our song with] Snoop Dogg. Another duet with Ice Cube will happen very soon, one that will pleasantly surprise the public — and we can announce exclusively that we still have another duet with Yuridia, and a second one with Christian Nodal pending.

Banda MS 'Un Chingo de Tequila'

Banda MS ‘Un Chingo de Tequila’

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03 Feb 2023

AOC Blasts GOP On House Floor Over Racism & Xenophobia

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House Oversight Committee Holds Organizational Meeting

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Rep. Alexandria Ocasio-Cortez condemned her Republican colleagues in a fiery speech on the House of Representatives floor over their hypocrisy and racism.

On Thursday (February 2nd), the Republican majority prepared to vote to remove Representative Ilhan Omar (D-MN) from the Foreign Affairs Committee. Their reasoning was tied to claims that Ms. Omar was over comments that she made in the past that they deemed antisemitic.

Rep. Ocasio-Cortez took to the House floor to call out the GOP members’ hypocrisy as she defended her Democratic colleague. “Now as also as a fellow New Yorker, I think one of the things we should talk about here is also one of the disgusting legacies of 9/11 has been the targeting and racism against Muslim Americans throughout the United States of America. And this is an extension of that legacy,” she began.

Her voice rising, Ocasio-Cortez referenced her treatment by far-right Rep. Paul Gosar (R-AZ), who had previously attacked her with an offensive tweet. “I had a member of the Republican caucus threaten my life,” she said. “And the Republican caucus rewarded him with one of the most prestigious committee assignments. Don’t tell me this is about consistency.”

She would go on to attack Rep. Marjorie Taylor Greene for her racism & conspiracy theories including “Jewish space lasers”, remarking that House Speaker Kevin McCarthy has already rewarded her with plum committee assignments for her support of his speakership. Ocasio-Cortez finished her speech, punctuating it by slapping her book on the podium: “This is about targeting women of color in the United States of America. Don’t tell me, because I didn’t get a single apology when my life was threatened. Thank you.”

Rep. Omar, who is one of two women Muslim representatives elected to the House along with Rep. Rashida Tlaib (D-MI) in 2018, has been a constant target of right-wingers. Before the 218-211 vote to remove her, she spoke on the floor, saying: “I am Muslim. I am an immigrant. And interestingly, from Africa,” Ms. Omar said. “Is anyone surprised that I am being targeted?” She concluded amid the applause of her Democratic colleagues: “Take your vote or not — I am here to stay.”

03 Feb 2023

Inside Spotify’s Star-Studded Best New Artist Party

Year after year, Spotify’s Grammy Week party delivers what no other party does: performances from every best new artist nominee on the same stage on the same night. 

And sure, with 10 nominees, that does lead to a rather long evening as the sets spread out over nearly five hours, but that hardly stopped the closing act from delivering a headline-worthy rock show, prompting the first and only mosh pit of the night.

With a guest list full of future best new artist hopefuls such as Orville Peck, jxdn, Joshua Bassett, Role Model, Yung Gravy and more, past nominee Kid Laroi was also in attendance. Plus, a handful of stars showed up, including Machine Gun Kelly, Shawn Mendes, Charlie Puth, Diplo, Tove Lo, Aly & AJ and so many more.

After turning last year’s event into a first-of-its kind best new artist brunch – held at Encore Beach Club at Wynn in Las Vegas – 2023’s edition at Los Angeles’ Pacific Design Center was a welcome return to the party guests have come to know and love. 

Below are the best moments from the night, courtesy of each best new artist nominee. 

7:32: Instrumental jazz duo Domi and JD Beck opened the night with a captivating set that not only served as the perfect entry music, but also set a high bar for the acts to follow. Drummer JD Beck joked about playing “anti-party music” while Domi later took her shoes off and jokingly declared the duo to be the “Worst New Artist.”

7:52: Emerging bluegrass artist Molly Tuttle wowed the room with her quick and vibrant strumming, amplified by a four-piece string band. Tuttle sounded crisp and cutting, briefly transporting the captivated audience – which included an attentive Orville Peck – to a setting more akin to Newport Folk Festival. 

8:11: Performing alongside a pianist, upright bassist and drummer, Samara Joy turned the sprawling tented venue into an intimate late-night club – think New York’s Blue Note. The jazz singer stunned with her soaring vocals, and caught even more of the room’s attention with her cover of Adele’s “Someone Like You.” 

8:35: Muni Long became the first performer of the night to welcome backup dancers and a prop – in the form of a silver chaise lounge – to the stage. She not only upped the ante with her production value, but delivered bar-raising vocals to match. Her voice was a force, even battling it out briefly with an electric guitar. Before her set wrapped, she wished the crowd a happy Black History Month, plugged her upcoming show and fittingly ended with breakout hit “Hrs and Hrs.” 

9:33: Following a surprise DJ set from the week’s most in-demand performer, DJ Pee Wee (Anderson .Paak), he introduced the celebrated Italian rockers Maneskin to the stage. “Hello everybody, we’re Italian rockers and we play rock n’ roll – at least, we try,” quipped frontman Damiano David. Wearing matching all white suits, the Eurovision winners shredded through “Begging,” “I Wanna Be Your Slave” and more, delivering a stadium-worthy rock show. In the absence of any pyro or other rock show staples, David settled for sprinkling water over the front row to cap off the set.

9:53: Nearly three hours in, Latto took the stage at the perfect time to bring the “big big energy,” performing her hit “Big Energy.” Supported by her DJ and flanked by backup dancers, Latto genuinely seemed to be having a blast on stage, engaging with the audience and smiling through each move. 

10:03: Opening her set in a denim trench to perform “Lobby,” Anitta soon after joked, “Good thing the votes are already counted.” Yet she still delivered an expectedly fiery set, including some signature twerking as an appetizer to “Envolver,” which continued to stand out as a party starter.

10:31: As the stage spins around to reveal Tobe Nwigwe, the first thing to stand out is the set fit for Architectural Digest, with two ivory arched structures on either end framing Nwigwe and his backup vocalists in the center. The singer-rapper treated the audience to a moment of all-consuming zen, momentarily making the otherwise fast-paced party seem to slow down and tune in.

11:03: The crowd thickened for Omar Apollo’s anticipated set, for which he asked, “Is everybody drunk right now? What’s the vibe here?” As the second-to-last performer, Apollo left quite the impression, performing fan favorites including “Go Away” and Endlessly” before warning the crowd his closer is “really f–king sad.” He told no lie, as he finished with the still-growing ballad “Evergreen.”

11:28: Following an epic flute introduction, indie-rock duo Wet Leg took the stage for the evening’s grand finale, and judging by the floor that began to shake from all the jumping, the act was a perfect choice. The rockers treated the brief set the same as their own headlining shows, letting their instruments do most of the talking. The performance included “Wet Dream” and, of course, ended with the song that started it all, “Chaise Lounge.” As a mosh pit began to pick up steam, the pair grinned, as if to say even they couldn’t believe this quirky song started it all.

03 Feb 2023

Music Investing Start-Up JKBX Partners with GTS Securities For Equities Trading

JKBX, a start-up offering retail investors fractional shares in thousands of hit songs, is partnering with electronic market-making firm GTS Securities for U.S. equity trading, the companies said in a joint statement Friday (Feb. 3).

The partnership is a sign that investing in songs and catalogs rights — a burgeoning asset class so far open to only the biggest, most monied music fans — is taking another step toward the mainstream. By teaming up with the electronic market maker GTS, JKBX is positioning itself to have one of the most prominent platforms when it launches its public offerings in late 2023.

Pronounced “jukebox,” chief executive Scott Cohen says JKBX has acquired $1.7 billion in music rights and is aiming to acquire $4 billion in rights before their LLC offerings go live. Once those regulation a+ initial filings are registered with the U.S. Securities and Exchange Commission, everyday investors will be able to buy bite-sized investment stakes in songs by current artists and back catalogs belonging to rock legends for a price starting at around $10.

“A handful of private equity firms, multinational corporations and major labels control the most valuable music rights in the world,” Cohen said in the statement. “JKBX’s platform will allow these entities and other significant rights holders to unlock the true value of these assets by offering them to retail investors to buy and sell in a regulated marketplace.”

Cohen, who co-founded The Orchard and was previously Warner Music Group’s chief innovation officer, last year named Matt Brown, formerly of Citadel and Ripple, as JKBX’s chief technology officer tasked with building out the tech powering the platform. With a high-frequency quantitative trading firm, GTS is responsible for nearly $13 trillion of market capitalization — or 3-5% of the daily cash equities volume in U.S. stock markets — making it a designated market maker. Through the partnership, JKBX will gain access to GTS’s technology, a competitive digital advantage in accessing U.S. public markets.

“GTS excels in making markets for every major financial asset class and providing enhanced liquidity through sophisticated, real-time pricing,” said GTS Securities co-founder/CEO Ari Rubenstein in a statement. “This same expertise can be applied to music royalties, which represent the next exciting tradeable asset class.”

03 Feb 2023

First Country: New Music From Dierks Bentley, Ashley McBryde, Shania Twain, Corey Kent & More

First Country is a compilation of the best new country songs, videos & albums that dropped this week.

Dierks Bentley with Ashley McBryde, “Cowboy Boots”

“They ain’t broke in until they’ve broke a few horses and some hearts,” Dierks Bentley sings in this sentimental ode to trusty, dusty old boots. Joining Bentley is is another superb, rootsy-warm vocalist, Ashley McBryde. Together, they bring all out the best nuances in this track, which is included on Bentley’s upcoming album Gravel & Gold, out Feb. 24.

Shania Twain, Queen of Me

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Shania Twain returns with the album Queen of Me, her followup to 2017’s Now. Here she nods to the current culture’s fervent nostalgia for ’90s music — both pop and country. With three top 10 hits on the Billboard Hot 100 (“You’re Still the One,” “That’ Don’t Impress Me Much,” “From This Moment On”), Twain has been one of the foremost architects of the ear-catching, euphoric pop-country blend, and brings to this new project a continuation of the peppy, empowering messages (see songs such as inescapably danceable “Giddy Up!” and “Not Just a Girl”), layered over staunchly pop productions that legions of fans have come to expect. Given her battle with health issues including Lyme disease and dysphonia, Twain’s vocal does sound different than her projects from the mid-’90s, but she uses her voice’s newly gritty texture with great impact, as it lends an added toughness to her defiant, triumphant storylines such as “Brand New” and “Queen of Me.”

Morgan Wallen, “Everything I Love”

Leading up to the March 3 release of his upcoming massive, 36-track album One Thing at a Time, Wallen released three new songs this week: “Last Night,” “Everything I Love” and “I Wrote the Book.” “Everything” is the most traditional country of the three, holding on to his country/rock/hip-hop hybrid, while incorporating a ’70s Allman Brothers vibe — and the the lyrics offer a direct nod to the Brothers’ classic “Midnight Rider” on the lyric, “We were listenin’ to ‘one more silver dollar’/ Hanging out in my Silverado.”

Corey Kent, “Man of the House”

Kent follows his radio hit “Wild as Her” with this moody, autobiographical track about a boy forced to grow up a little too fast, trying to “fill shoes that ain’t my size” in order to make up for the hole left by an absent father. The memories and inner struggle tumble out as his voice runs the gamut from subdued and husky to an angsty near-scream as the memories and inner struggles tumble out, before he muses that now grown up and a father, he’s still “a boy trying to be the man of the house.” A solid showcase of Kent’s maturing acumen as a songwriter and vocal interpreter.

4Runner, “Ragged Angel”

This group first signed with Polydor in 1995, released their debut track “Cain’s Blood” and earned followup hits. Years later, they disbanded to raise their respective families. But now, they return with their first release in nearly two decades, on a reimagined version of a song they first released in 2004 — and a new baritone singer, with lead singer Craig Morris’ son Sam. In that time, it’s clear the group’s Eagles-esque, full-bodied harmonies are perfectly intact on this uplifting and buoyant track, which feels like a perfect throwback in an era filled with nostalgia for 1990s and 2000s country sounds.

Charles Wesley Godwin, “The Jealous Kind”

Godwin’s scruffy voice offers bone-baring honesty on this cover of Chris Knight’s “The Jealous Kind,” accompanied by cool piano licks and haunting bass lines. He and his band kick up the tempo, leaning into the urgency reverberating through the song’s storyline, detailing a guy outrunning the law to reach his wayward lover.

“I never drove two days through the pouring rain just stopping for coffee and gas,” he sings. “Never outrun the law on the interstate/ Didn’t know this thing’d go that fast … but there’s always a first time.”

03 Feb 2023

Depeche Mode Announces New Song ‘Ghosts Again’: Here’s When It Arrives

Depeche Mode shared the news on Friday (Feb. 3) that their new single, “Ghosts Again,” is on its way.

“Ghosts Again, the first single off Depeche Mode’s next album Memento Mori, comes out February 9th, 2023,” Martin Gore and Dave Gahan shared in a social media post featuring the album artwork as well as promo for the song popping up on murals, bus stations, subway stops and more. “Set your clocks for Feb 9, 6:00 PM CET/5:00 PM GMT / 11:00 AM ET / 8:00 AM PT.”

With its Tuesday (Feb. 9) release, “Ghosts Again” will serve as the ’90s icons’ first single since “Where’s the Revolution,” “Going Backwards” and “Cover Me” off their 2017 album Spirit. It is also the first new music to be released by the synth-pop band since the sudden death of co-founder Andy Fletcher in May 2022 at age 60. Depeche Mode announced the following month that their utility player died from an aortic dissection.

Fans of the band seemed confused by the single’s announcement after thinking the song was meant to drop as part of New Music Friday. “omg i thought it‘s coming out todaaayyyy,” one wrote. Another complained, “broooo come on I’ve been checking Spotify all morning.”

The confusion seemed to stem from a countdown clock the duo posted seven days prior, pointing to something major coming that turned out to be … another four-day wait.

“Then what was the countdown for,” one follower demanded, while another complained, “So the extraordinary announcement expected for a week is the announcement that we will have to wait another week? this story starts well..”

Depeche Mode’s “Never Let Me Down Again” received a major streaming bump last month thanks to its use in the pilot episode for the new HBO series The Last of Us. The synch even shot the 1987 classic to No. 1 on Billboard‘s LyricFind U.S. and LyricFind Global charts (dated Jan. 28).

Check out Depeche Mode’s “Ghosts Again” announcement below.

03 Feb 2023

GAYLE, Yung Gravy, Anderson .Paak & More: Music Stars at 2023 Grammy Week Events

The 2023 Grammy Awards are nearly upon us! Though the ceremony takes place on Sunday, Feb. 5, artists who are preparing to make their appearance at the ceremony have touched down in Los Angeles in advance for a series of both public and private events for the period dubbed Grammy Week. And while fans may not be able to attend them all, Billboard has you covered with this gallery of photos that features snaps of music stars who showed up to the Grammys pre-parties.

Thursday (Feb. 2) saw Warner Music Group host a star-studded party at the Hollywood Athletic Club in Los Angeles. Saweetie was among the stars to pose for photos on the carpet. During the event, Anderson .Paak — who showed up in his now-signature shiny bowl cut and sunglasses combo — gave the turntables a spin as DJ Pee Wee. Best new artist nominee Omar Apollo took to the stage to perform, and Nile Rodgers cleared the dance floor to bust a move.

The Recording Academy Honors presented by The Black Music Collective also took place on Thursday. Ciara and Lil Wayne posed for photos while sitting at the tables, Dr. Dre accepted the Recording Academy Global Impact Award that night, and attendees were treated to entertaining performances from Busta Rhymes (“Put Your Hands Where Your Eyes Can See,” “I Know What You Want”) as well as Chlöe, who dazzled with covers of songs by Aaliyah and Missy Elliott (“One in a Million” and “One Minute Man”).

Young stars such as Olivia Rodrigo, Sabrina Carpenter and GAYLE also turned up at the many Grammy Week events. See photos of the stars at the various gatherings.

03 Feb 2023

11 Grammy Duets & Collaborations You Probably Forgot About

There’s a reason the Grammy Awards are called Music’s Biggest Night. Since the first ceremony in 1959, musicians, singers, songwriters, producers, recording engineers, executives and more have united annually to celebrate and recognize outstanding achievements in the industry.

Although it’s the awards that bring everyone together, the Recording Academy’s annual ceremony has grown to become a major musical showcase of its own. Now, performances can be just as headline-making as winners — especially when two or more acts take the stage for a surprise team-up. For instance, Prince and Beyoncé stole the show in 2004 when they performed a medley of hits that included “Purple Rain” and “Crazy In Love.” Elton John and Eminem’s performance of “Stan” at the 2001 Grammys still has people talking today. And back in 1980, Barbra Streisand and Neil Diamond stole the show by singing “You Don’t Bring Me Flowers” live for the first time together.

With over half a century of show-stopping sets, there are likely dozens of acts you may not remember having taken the stage together. Some pairings are more surprising than others (Metallica and Lady Gaga’s 2017 team-up surely had heads turning), but all of them captivated audiences, bringing together artists both old and new to make history live on stage.

Ahead of the 2023 Grammy Awards on Sunday (Feb. 5) — which will feature performances from Harry Styles, Bad Bunny, Mary J. Blige, Stevie Wonder, Brandi Carlile, Luke Combs, Steve Lacy, Lizzo, Kim Petras and Sam Smith and more — Billboard rounds up 11 epic duets and collaborations you may have forgotten about, in no particular order, below.

03 Feb 2023

More Signings Fail To Produce More Stars

From 2001 to 2004, the music industry produced a steady stream of new artists with big hits: At least 30 first-timers landed in the top 10 of the Billboard Hot 100 each year. In 2022, only 12 new acts managed the feat (plus a pair of songs from the Encanto cast). “This is the hardest time to break through and market music,” one manager tells Billboard.

It’s not for lack of trying: In recent years, labels have been signing acts at whirlwind speed, yet this surge of new signings hasn’t yet amounted to a surge of new stars. And some executives worry that the dry spell is partly due to the recent wave of signings, claiming that the majors have inked deals at a rate beyond their ability to provide service.

“The over-signing of [the] COVID [era] is now a pain point at every label,” says one manager with multiple acts on majors. If staff growth doesn’t keep up with roster growth, artists don’t necessarily get the care they need to level up. “No one has enough product managers. So they’re all getting crushed.”

“It is not humanly possible for a product manager — the person responsible for the story of the artists, the story of the music — to creatively, strategically and efficiently implement marketing for 20 artists at one time,” says Craig Baylis, a former major-label product manager who runs the boutique publishing company Eighth & Groove. Record companies often “aren’t getting the best out of [their staff] because they are ramming them with all of these artists that they’re not even getting the chance to know.”

All the major-label groups have broken new artists in the last few years, of course, whether it’s Olivia Rodrigo (Universal Music Group), Steve Lacy (Sony Music) or Zach Bryan (Warner Music Group). In a January letter to staff, UMG chairman/CEO Lucian Grainge reaffirmed the company’s commitment to this task, writing, “We diligently work, day in and day out, to break our artists and songwriters.” While speaking with investors last year, Sony Music chairman Rob Stringer said “creative staff,” which encompasses A&R, marketing, product managers and artist relations, had increased at a faster rate than artist roster size, helping launch new acts onto the streaming charts.

Roster size numbers are difficult to come by, but in 2017, a study organized by the RIAA found that major labels had signed 658 artists that year, up from 589 in 2014. Although the RIAA hasn’t released a follow-up, many lawyers and executives say the rate of signings has climbed since that report. Two senior executives believe the number of deals is now as high or higher than it has ever been; Sony Music told investors that new signings rose 32.4% between 2017 and 2021.

The recent wave of signings is in part a byproduct of streaming becoming the main revenue source at the majors. The biggest streaming services pay rights holders according to their share of total plays on the platform. But low-cost distribution has brought a “vast and unnavigable number of tracks” into the music ecosystem, as Grainge put it in his staff memo. Streams for those tracks eat into big record companies’ piece of the pie. If tens of thousands of new tracks are added to streaming services daily, “then [major-label] market share is going to be diluted by default,” Stringer explained last year.

Signing more is a way of fighting back. “For major labels, independents and distributors, it’s all about volume of signings now,” says Andreas Katsambas, who was a senior vp at BMG before joining the analytics company Chartmetric as president/COO.

This puts major labels in a bind: They need to sign and release more to keep market share up, but this makes it harder for each artist signed to get the attention they need to break through.

“Intelligent marketing is not going to be a facet of developing artists today if record companies are going to continue doling out artists, singles and projects at the frequency that they do,” says Baylis. “There is a high level of fatigue that product managers are experiencing.”

A former major-label employee who left to go into management agrees that product managers and marketers tend to be “completely overworked.” “A digital person may have 60 projects,” he adds. “It’s crazy.”

Mike Caren, founder of the publishing company and independent label APG (and former president of global A&R at WMG), points out that “even the best marketer is limited by the number of hours in the day and days in the week.” He adds: “Executing an artist’s vision is time-intensive, and the best artists challenge their teams with unique ideas that take a lot of time to properly deliver. Capacity is a key metric to determine when choosing a label or team.”

This may be especially true today, when the ability to grow audiences seems increasingly like the most important service a label can offer. Artists no longer need to turn to majors for national and international distribution or studio-quality recording equipment; now, anyone can get those things from their laptop while sprawled on the couch. Instead, “gaining awareness is the most challenging thing for anyone that releases music,” Katsambas says. “Awareness more than anything else, and then engagement and retention.”

Are those goals compatible with high-volume signing? “It’s hard creating a game plan for longevity for some of these artists that are really talented and deserving,” Baylis says, “because executives are charged with just feeding the beast called the DSPs.”