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It’s been 25 years since Eminem announced himself on the international stage with his iconic, revered 1999 album The Slim Shady LP. The album — technically his second, but his first on major label Interscope — included huge singles like “Guilty Conscience,” “Role Model” and, most significantly, “My Name Is,” which introduced his alter-ego character Slim Shady to the world. His even bigger followup album, 2000’s The Marshall Mathers LP, doubled down with “The Real Slim Shady,” which hit No. 4 on the Billboard Hot 100 and spawned one of the most iconic awards show performances of all time, with the bleach-blonde-haired hip-hop superstar lording over his legion of lookalikes.
But it’s been a quarter century since then, and Slim Shady is dead, locked in Eminem’s basement. The final nail came with his latest album, The Death of Slim Shady (Coup de Grace), which this week became Em’s 11th album to debut at No. 1 on the Billboard 200, racking up 281,000 equivalent album units and landing the biggest week for a hip-hop album this year so far. In addition to the star power that Eminem brings with any new release, the album’s big first week was also the result of a meticulous, months-long marketing rollout involving Fortnite activations, a mock true crime video, print newspaper obituaries and big-time singles like “Houdini,” which landed at No. 2 on the Hot 100 upon its release. And it helps earn Interscope Geffen A&M senior vp of marketing Jason Sangerman the title of Billboard’s Executive of the Week.
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Here, Sangerman — who has worked on 11 Eminem albums himself over the course of his career — talks about that extended marketing plan, the collaborations with Eminem and his longtime manager and Shady Records CEO Paul Rosenberg to set the record up, and what comes next. “The great thing about an artist like Eminem is he keeps everyone guessing, and that includes us, so it keeps you operating at the highest level,” he says.
This week, Eminem’s latest album, The Death of Slim Shady (Coup de Grace), debuted at No. 1 on the Billboard 200 with the biggest first week for a hip-hop album this year. What key decision did you make to help make that happen?
Everything we do when we begin to engage in discussions around the marketing strategy is led by Eminem and his partner and manager Paul Rosenberg. Once we have our initial plan, the Shady Records team and the larger Interscope team begin building it out. There’s a ton of brainstorming and we all work well bouncing ideas off one another — but when it comes to the execution, precision is non-negotiable.
The key to this rollout was thinking and working comprehensively. It always starts with the music. Marshall delivered yet another amazing album; this time it also came with a high-concept narrative woven throughout. We put a plan together with Paul that gave us plenty of runway to activate all the essential components — social platforms, press, radio, DSPs, D2C, gaming, our Complex relationship, IRL pop-ups, etc. The plan not only enabled us to engage his global fanbase, but we created new entry points for prospective fans, which was key to a successful launch.
The concept of this album — killing off the iconic alter ego of one of the most successful rappers of all time — must have both been a marketer’s dream and nearly overwhelming to contemplate. How did you approach setting it up?
The character of Slim Shady and the world built around him is all Marshall’s creation. It’s always a privilege to help provide a tangible experience for the fans based off his ideas, and so a lot of the marketing plan starts directly from Marshall and Paul. The larger Interscope team then creates a space to augment and build upon those innovative ideas. It’s always critical, but especially so given the nature of this particular album, to get the chronology right for each moment. We couldn’t make a move that would potentially give away something planned for a future payoff.
In what ways were you able to call back to the original Slim Shady character from 25 years ago?
It’s so wild to hear “25 years ago,” because Eminem was the first concert I saw when I was growing up. It was the Slim Shady Tour at the House of Blues on Sunset. I still have the original T-shirt. That colorful crayon style Slim Shady logo was one of the pieces that was brought back into the mix for this album. Once “Houdini” was released, there were elements of nostalgia in everything we did, and they became Easter eggs for the album marketing — the “Rap Boy” costume, the blonde hair, a flash mob of “real” Slim Shadys popping up in Washington Square Park in New York, etc.
The Complex “Face Off” piece is of course an integral part of the campaign, and a key element in explaining the concept around the album. It goes without saying that Marshall has earned the right to be very judicious about the way he puts himself out there to the world. Complex came to us with a really creative idea that builds off the album’s narrative and brings it to life in a way that makes sense for him and his fans.
Another important element to all of this is that many of us at Interscope have been working with Eminem and Paul for years. Some of us, like [vice chairman] Steve Berman, since the very first record. So, there’s an institutional knowledge built in among the team that we bring to each Eminem release, and we definitely tapped into that for this campaign.
How were you able to use the singles and music videos to help promote the album and its themes?
The great thing about an artist like Eminem is he keeps everyone guessing, and that includes us, so it keeps you operating at the highest level. Of course, he’s dropped albums recently with little to no warning as surprise releases, but in this case, we were having conversations with Paul and Marshall in Detroit about the best way to roll out this project last year. Given the album’s theme, they wanted there to be true singles along with videos to set the project up. Paul and the team at Shady led those conversations. They’ve always had an extraordinary vision.
Obviously, Eminem’s songwriting is unparalleled, but he’s also a super visual artist. So the video for “Houdini” was crucial to launching this campaign. It has a similar energy to first singles from earlier albums — so right there you have another benefit of the team’s long-term continuity. We had the ability to tap into a collective knowledge base from past releases. The “Houdini” video allowed fans who have always loved Slim to reconnect while introducing the character to a new generation of fans.
“Houdini” was the spark that activated everything we had been planning for so long. Every single person on the team did their part to help mobilize and expand fandom around the track. We always try to build an entire world around a release, and the immediate global reaction to “Houdini” allowed us to pour gasoline on the fire.
How was the rollout for this project different from any other in Eminem’s career — and in your career as well?
This plan started well before the album was announced. If you look back at the Eminem and Fortnite activation from the end of last year, you’ll see that some of the aspects in that collaboration included throwback Slim Shady themes — the popcorn trail started all the way back then. There was a long roadmap leading up to the album release that had storytelling components every week, using every medium that made sense. We used advanced AI technology in some of our visuals, but we also ran a fake “true crime” show commercial on TV to announce the album, and then we took out the Slim Shady obituaries as print-only media in physical newspapers. Some of the music critics at those papers didn’t even see them until they got traction from other outlets. Regarding my career, this is the 11th Eminem project I’ve worked — I’m just lucky to be anywhere around something like this.
Slim Shady is dead. Where does Eminem go from here?
Eminem always likes the element of surprise, and since I don’t need him making an album called “The Death of Jason Sangerman,” I’ll leave that up to him to answer.
LONDON — Record companies that actively embrace sustainability are more efficient, more innovative and more likely to appeal to artists, fans and employees, according to research carried out by European independent labels trade body IMPALA.
The Brussels-based organization’s inaugural report into the economic benefits of sustainability, published Thursday (July 25), says that labels who have implemented green measures, such as reducing travel and shifting distribution from air to sea freight, make cost savings over time and reduce waste.
Other rewards identified by IMPALA members who took part in the survey include tax breaks for sustainable initiatives and the ability to gain a competitive advantage over less-eco-friendly businesses when it comes to attracting and retaining artists, especially from younger musicians who place sustainability high among their list of priorities.
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Labels and music companies who have taken environmentally friendly action additionally benefit from an improved brand image among music fans and a more creative and forward-thinking business culture, said the trade group.
The report’s findings are based on qualitative interviews IMPALA conducted earlier this year with a number of European indie labels signed up to the organization’s sustainability task force, including Beggars Group, Ninja Tune, PIAS, Warp and Domino.
Independent research projects carried out by U.K. labels trade body BPI, professional services company PWC and Harvard Business Review into sustainability also fed into the report’s findings.
Helen Smith, executive chair of IMPALA, said its research indicated that the adoption of sustainability practices by record companies benefits not just the planet but also delivers “concrete advantages in other areas such as attracting artists, reducing costs, hiring and retaining employees,” as well as “being seen as a [market] leader.”
“The question of futureproofing is also important as companies see sustainability as an opportunity before it becomes a burden, and this pays off almost immediately,” said Smith in a statement accompanying the report.
IMPALA, which represents 6,000 independently owned European labels and music companies in 33 countries, launched its sustainability program in 2021. It aims to halve the sector’s greenhouse gas emissions by 2030 and achieve net zero emissions before 2050.
To help reach those goals the organization devised a carbon footprint calculator for member labels to measure and reduce their emissions. So far, nearly 150 labels have signed up to the initiative, which has now been rolled out to the U.S. in partnership with the American Association of Independent Music (A2IM).
IMPALA’s first carbon footprint calculator data report, which was published last year, found that the biggest source of carbon emissions for the indie sector is manufacturing (predominantly vinyl production), followed by the distribution of physical products.
To help tackle the climate crisis record labels around the world are taking positive steps to become more sustainable by reducing waste, water, electricity and fuel consumption.
Other green practices that have been recently introduced by IMPALA members include replacing plastic jewel CD cases with cardboard ones and switching vinyl production from PVC compound to the more environmentally friendly polyethylene terephthalate (PET) material, which equates to a 70-80% reduction in energy consumption, says the organization. Opting for 140g vinyl instead of 180g also lowers production costs and labels’ environmental impact, it adds.
Members of IMPALA’s sustainability task force noted that green initiatives had a significant impact on the quantity and quality of job applications they received, improving employee retention and workplace culture.
“We’re proud to have sustainability as one of our core company values and have seen this translated with attracting and retaining top talent, said Horst Weidenmueller, chair of IMPALA’s sustainability task force and CEO of K7 Music.
Last month, the Germany-based label became one of the first indies to receive B Corp certification in recognition of its social and environmental practices. “It’s great to see consumers and suppliers moving in the same direction,” said Weidenmueller in a statement.
According to a 2022 survey by U.K. charity Music Declares Emergency and the University of Glasgow, music fans are more likely to care about climate change and place a higher priority on tackling the crisis than non-music fans. A different survey by U.K. entertainment product manufacturer Key Production found that 71% of 18–24-year-old respondents were willing to spend more on physical music products with a reduced environmental impact. Across all age groups, 50% of respondents said they would pay a premium price for eco-friendly merchandise, CDs or records.
In line with consumers’ growing concerns around environmental issues, sustainability has become a key focus and area of investment for the wider music industry.
Last year, Universal Music Group, Sony Music Entertainment and Warner Music Group joined forces to establish the Music Industry Climate Collective (MICC) – a new alliance to address and lessen the sector’s environmental impact, which is being assisted and advised by A2IM.
In 2021, all three major record companies, plus independent labels BMG, Beggars, Partisan, Warp, Ninja Tune and the Secretly Group, signed up to the Music Climate Pact, a wide-ranging commitment to “decarbonize” the global record business.
MELBOURNE, Australia — In a restructuring that’s touted as one of the most significant changes to Mushroom Group in more than two decades, the independent music powerhouse unveils Mushroom Music — a new division that incorporates its recording, publishing and neighboring rights activities.
Unveiled Thursday, July 25 with a new website and social presence, Mushroom Music is said to be the largest music collective of its kind in the region, representing the likes of Vance Joy, Kylie Minogue, The Teskey Brothers, Jimmy Barnes, Childish Gambino, Kehlani, Julia Jacklin, Archie Roach, Wolf Alice, Amy Shark, Red Hot Chili Peppers, Missy Higgins, Confidence Man and many others.
Mushroom Music has been several years in the making, explains Mushroom Group CEO Matt Gudinski. “This transformation,” he says, “is about harnessing the collective strengths and experience of our individual recording, publishing and neighboring rights companies.
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Leading Mushroom Music as co-CEOs are Chris Maund (formerly COO Mushroom Labels & Publishing) and Linda Bosidis (formerly managing director Mushroom Music Publishing), reporting to Gudinski.
Within the new structure, Bosidis remains primarily focused on the publishing division and Maund on recordings, neighboring rights and new opportunities, while neighboring rights specialist Susan Cotchin continues to lead the Good Neighbour business as managing director.
With the changes, Mushroom’s record labels Liberation Records, Ivy League Records, Bloodlines, Liberator Music, Soothsayer and 100s + 1000s are now part of the Mushroom Music pot, and will not longer “outwardly” exist, Maund explains. “We had expanded to eight separate record labels, which doesn’t make sense strategically or efficiently for a single independent music company.” I OH YOU and Valve Sounds will remain standalone label partners of Mushroom Music.
Mushroom Music’s restructured executive team includes Damian Slevison (managing director, A&R and commercial), Dan Baker (managing director, strategy & audience), Julia Hill (director, media & artist relations), Dean McLachlan (senior director, iconic artists and catalogue), Korda Marshall (managing director, world ex-ANZ), Erol Yurdagul (senior director, A&R and creative), Layne Buckley (manager, A&R), Johann Ponniah (founder, I OH YOU Group), Nick Dunshea (senior director, international & operations) and Madeleine O’Gorman (general manager, UK/Europe).
By consolidating the labels, it’s enabled the new division to bring A&R into a single team led by Slevison; its media, streaming, marketing, and audience functions are merged into a single, fully aligned department led by Baker; and the social media and audience team is expanding with new hires, and a streamlined global marketing team is being created across Mushroom’s Australian, U.K., and U.S. offices. “It’s going to make a big difference,” says Maund.
Adds Bosidis, “the new setup aims to streamline our operations and broaden idea-sharing within the company. As co-CEOs, Chris and I will have distinct roles: I will focus on publishing, Chris on recordings, neighboring rights, and other strategic areas.” And despite their separate responsibilities, “we will collaborate closely on vision, strategy, and company culture for Mushroom Music.”
The launch of Mushroom Music follows the group’s 50th birthday celebrations in 2023, which, along the way, involved a raft of releases, both musical, visual and branded merchandise, and culminated in an all-star concert at Melbourne’s Rod Laver Arena. Fittingly, a life-size statute of Michael Gudinski, the legendary late entrepreneur who formed Mushroom Group all those years ago, stands facing the arena.
“It’s been a long journey to really get to this point,” Matt Gudinski says of Mushroom Music. “A big part of it was really bringing everyone together, aligning everyone’s priorities and strengths, and also creating a greater pathway for people and a greater set up to attract the best people to be part of Mushroom’s infrastructure.”
This new setup is the “most significant change to how Mushroom supports Australian artists since the sale of Mushroom Records in 1998.”
Dick Asher, a titan of the music industry who held presidential roles at both PolyGram and Columbia Records, has passed away at the age of 92, Variety has confirmed.
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His son Jeffrey annoucned via Facebook that Asher passed away peacefully at his home in Boca Raton, Fla. on Tuesday, July 25.
“It is with a heavy heart to inform y’all that my father, one of the legendary executives of the music industry, passed away yesterday afternoon at the age of 92!! Here he is in London England presenting Mott the Hoople with awards for sales of their albums,” Jeffrey wrote alongside a photograph of his father alongside the British rockers.
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Born in New York City in 1932, Asher’s career in the music industry spanned over four decades, with his tenure coinciding with the careers of some of music’s biggest names, including Bruce Springsteen, Michael Jackson, and Bon Jovi.
He began his professional journey after graduating from Tufts University and Cornell Law School. Following his service in the Marine Corps, he joined CBS Records (now Sony Music) in the mid-1960s as vice president of business affairs.
Perhaps one of the most notable moments in Asher’s early career was his meeting with Bob Dylan during the singer’s recovery from a near-fatal motorcycle accident in 1966.
Asher traveled to Woodstock, New York, to negotiate Dylan’s contract renewal, a task that few others were able to accomplish during that period. Reflecting on the meeting, Asher once recounted asking Dylan about his new music, to which Dylan replied, “It’s a little further on down the road.”
After a brief stint at Capitol Records, Asher returned to CBS in 1971 and worked closely with Clive Davis at Columbia Records.
He was instrumental in revitalizing the company’s struggling U.K. division and was later promoted to head of international operations. In the late 1970s, as the music industry faced a downturn due to the decline of disco, Asher was named deputy president of Columbia Records, playing a crucial role in stabilizing the company’s finances.
Asher’s most significant contribution to the music industry came in the 1980s when he took a stand against the powerful network of independent promoters, known as “The Network.”
These promoters had monopolized radio airplay through payola and other questionable practices.
As detailed in Frederic Dannen’s book Hit Men, Asher attempted to break free from their influence by releasing Pink Floyd’s “Another Brick in the Wall, Part 1” without their involvement.
However, the song initially faced significant resistance from major radio stations. Despite this, Asher’s determination ultimately contributed to Congressional hearings that exposed and dismantled the network’s operations in the mid-1980s.
Asher’s tenure at Columbia Records came to an end in 1983 after conflicts with the company’s president, Walter Yetnikoff. He subsequently joined Warner Communications and later became the president and CEO of PolyGram Records in 1985. During his time at PolyGram, the company released several blockbuster albums, including Bon Jovi’s “Slippery When Wet” and Def Leppard’s “Hysteria.”
Despite these successes, Asher left PolyGram in 1990 following a contractual dispute.
After departing PolyGram, Asher returned to law practice and provided consultancy services to various artists and companies.
He also became an original director for Electronic Arts, serving in this capacity for 24 years. In the 1990s, he moved to Florida and later joined Florida Atlantic University as an affiliate professor of commercial music, where he played a pivotal role in establishing the school’s recording studio.
Asher is survived by his wife, Sheila, and his son, Jeffrey. He also leaves behind four grandchildren and one great-granddaughter.
Pipe Bueno has inked a deal with Warner Music Latina, becoming the label’s latest signee deriving from Colombia’s música popular scene, the company tells Billboard.
The agreement was made with Bueno’s management companies Ocesa Seitrack, where he’s represented by Alex Mizrahi and Octavio Padilla, and JB Management, where he’s represented by Juan Guillermo Ballesteros. He signed with both companies last year. Campaigns for the 32-year-old Colombian artist will be managed and operated from the Warner Música Mexicana division in Los Angeles, with the support of Warner Music Mexico.
“At some point, I envisioned being backed by one of the best record labels in the world, and without a doubt, Warner Music is one of them,” said Bueno in a statement. “I am excited to know that today I am signing with a company that has begun to believe in Colombian regional music, and has its eyes set on our genre. I have high expectations, and Warner Music’s support will be crucial in achieving everything I have in mind.”
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“For us, making this signing happen was very important,” added Ballesteros. “We have achieved an incredible partnership with a total focus on everything that surrounds Pipe Bueno…his music and all his projects as a brand. We want to elevate the Colombian genre to another level, and we are confident we have found the best way to do it with Warner Music.”
Under the new deal, Bueno announces his upcoming album. According to a press release, it “promises a unique fusion, showcasing his Colombian regional music while honoring and celebrating Mexican regional music.” His debut single under the label, “Una Pregunta” featuring Gerardo “El Jerry” Coronel, premieres Thursday (July 25).
“We are delighted to welcome Pipe Bueno to the Warner Music family,” said Roberto Andrade Dirak, MD of Warner Music Latina. “His dedication and passion for Colombian popular music are inspiring, and we are proud to be part of this new stage in his career.”
Rubén Abraham, GM of Mexican music at Warner Music Latina, added: “He’s an artist who respects and deeply understands the essence of Mexican regional music. His upcoming album is a great opportunity to continue boosting Pipe’s career in Mexico and the United States; it features high-level collaborations that reinforce Pipe’s credibility and respect in Mexican music.”
The artist born Andrés Felipe Giraldo Bueno launched his self-titled debut album in 2008 and has since risen to pioneer “la música popular Colombiana,” a musical genre that fuses traditional folk music from the Paisa Region with Regional Mexican elements, such as mariachi and ranchera. The genre is locally known as “música de cantina” and is played at every parranda, parties that feature local music and food. Bueno has since laced the genre with urban and pop rhythms by teaming up with artists such as Wisin, Zion and Darrel. He has also collaborated twice with his good friend and colleague Maluma on the tracks “La Invitación” (2014) and “Tequila” (2020). The former track peaked at No. 20 on the Billboard Latin Rhythm Airplay chart in 2017.
In a major leadership and strategic shakeup at the world’s top K-pop company, HYBE promoted Jason Jaesang Lee to be the company’s new chief executive officer on Wednesday (July 24), replacing Jiwon Park, according to a press release.
Lee previously served as president of HYBE America and chief strategy officer, a role which saw him lead HYBE’s 2021 acquisition of Scooter Braun‘s Ithaca Holdings and spearhead the Seoul-based company’s initial public offering in 2020.
In positioning him at the top of the company, HYBE said Lee “is the central figure for the forthcoming ‘HYBE 2.0’ strategy rollout,” a global expansion plan that has been in the works since the start of 2024.
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“Jason is an entertainment industry veteran with vast experience in strategic planning and operations across both domestic and overseas businesses,” the company said in the statement. “Under his new leadership, we are looking forward to advancing as a global entertainment lifestyle platform company.”
More than the home of BTS, HYBE’s budding empire has expanded in the U.S. and Latin American music markets in recent years with the November acquisition of Exile Music, the music division of Spanish-language studio Exile Content, and HYBE America’s acquisition of hip-hop label Quality Control and, before that, the country powerhouse Big Machine Label Group.
HYBE’s revenue-generating engine showed signs of slowing earlier this year when the company reported in May that its first quarter revenue fell to the lowest point in two years, and earnings before interest, taxes, depreciation and amortization (EBITDA) fell to the lowest point since the first quarter of 2021.
Park, who was named CEO in July 2021 when HYBE founder Bang Si-Hyuk transitioned to board chairman, “decided to step down … [and] will continue to contribute to the company’s growth strategy by leveraging his expertise in the intersection of entertainment and technology,” according to the statement.
During Park’s tenure as CEO, HYBE more than doubled its revenue and operating profit and became the first Korean entertainment company ever to generate more than 2 trillion Korean won ($1.4 billion) in revenue.
Influence Media has launched a new frontline label, called SLANG, with Will Smith among its initial signings, the company announced today (July 24).
The company, which has been backed by the Warner Music Group and BlackRock, is launching the new label with its partner and founding advisor Rene McLean at the helm. SLANG, in partnership with TRIBL Records, released Smith’s latest single, the Gospel track “You Can Make It” feat. Fridayy and Sunday Service, on June 28, which has racked up 1.13 million on-demand streams in the U.S. so far, according to Luminate.
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Joining Smith on the SLANG roster are producers Camper (Big Sean, Mary J. Blige) and 30 Roc (Cardi B, Roddy Ricch), as well as the Underachievers, Leaf, Truththebull, Isaia Huron and more.
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“I’m proud to lead SLANG’s efforts to partner with quality artists and invest in their growth, regardless of genre or where they are in their respective careers,” McLean said in a statement. “In a quickly-changing music industry, SLANG artists will be surrounded by a team of like-minded strategists who will stop at nothing to further their trajectory and help them meet their goals. Our commitment to culture comes first, and we consider our SLANG roster family.”
Influence Media launched in 2017-2018, initially using bridge financing from Morgan Stanley to acquire assets from artists and producers Jeff Bhasker, Shane McAnally and Ben Rector, before selling those rights to Tempo Music in 2019. Two years after that, it launched its Fund I with $100 million in backing to acquire some copyrights from songwriter Ali Tamposi (Kelly Clarkson, Camila Cabello) and singer/songwriter Julia Michaels (“Issues,” Justin Bieber).
The backing from WMG and BlackRock, announced in February 2022, was intended for purchasing new assets and as an investment in Influence’s platform; at the time, Influence was said to have deployed some $300 million of the $750 million it had raised overall on songwriting catalogs from Tainy, the Stereotypes, Jessie Reyez and Skyler Stonestreet. Since then, it also acquired parts of the publishing catalogs of Future and Harry Styles songwriter Tyler Johnson, and partnered with Enrique Iglesias for a rights management deal and acquired Blake Shelton’s master recordings.
McLean, a 2023 Billboard R&B/Hip-Hop Power Player, led several of those acquisitions; he has served as a manager for the likes of Cam’ron, LMFAO and Kelis over the years, and had a hand in the careers of artists such as Missy Elliott, Busta Rhymes, Pharrell and Timbaland, according to a press release.
At the midway point of 2024, the recorded music business is in fine form. Streaming is growing, physical purchases remain strong and download purchases are so few that any declines are barely noticeable amidst streaming’s success.
Billboard has already reported the major takeaways from Luminate’s midyear report — you can read a main article here and a follow-up article with more observations here — but a document filled with so much data, augmented by market research, merits another story. Below you can find five additional insights from the report (which you can download a copy of here).
Putting Digital Into Perspective
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Digital’s share of the market rose slightly to 95.3% of equivalent album units (EAUs), up from 95.2% at midyear 2023, 92.3% at midyear 2022 and 91.2% at midyear 2021. If that seems higher than some other figures you’ve spotted at Billboard, don’t worry. Because Luminate tracks only sales and purchases, comparing its data to other available data is like comparing apples and oranges. Public companies that report recorded music revenues have a lower digital share than Luminate’s consumption-based numbers. At Universal Music Group, digital’s global share was 69.8% in 2023, while at Warner Music Group it was 67.0%. Those companies’ digital shares are lower than what’s found in the Luminate report for a couple reasons. First, both companies get more than 10% of their recorded music revenue from physical sales globally (16% for UMG, 11% for WMG). Second, music companies group record labels with merchandise, various licensing revenues and expanded rights revenues — things not tracked by Luminate
Luminate’s digital share is also higher than the RIAA’s widely observed industry numbers, which had digital at 86.4% of recorded music revenue in the U.S. in 2023. But the RIAA tracks a few things that Luminate doesn’t. That includes SoundExchange collections (encompassing satellite radio and cable music services such as Music Choice and Stingray), which last year accounted for 5.8% of total revenue; and synchronization royalties, which accounted for 2.4%.
Long Live the Album
Not many years ago, the album was declared dead and some people predicted single-track releases would become standard. Sure, the album has been forever unbundled, and artists tend to release individual tracks ahead of an album’s release. Yet the format continues to thrive. At the midway point of 2022, four albums had more than 1 million equivalent album units. Last year, five albums had surpassed that threshold by June 30. And this year, seven albums topped 1 million EAUs.
As Billboard’s Dan Rys noted earlier this week, this year’s top album, Taylor Swift’s The Tortured Poets Department, did especially well, boasting 2.6 times as many EAUs as the No. 2 album, Morgan Wallen’s One Thing at a Time. To be fair, though, One Thing at a Time has had incredibly longevity: It was the No. 1 album in the first half of 2023, and its 3.31 million EAUs in that period were only 29% less than TTPD’s 4.67 million units in the first half of 2024.
Notably, sales are a major part of the consumption pie for some of the top albums. In the case of TTPD, more than half (53%) of total EAUs came from purchases. Beyoncé’s Cowboy Carter, the No. 4 album, got 23.3% of EAUs from purchases.
Catalog Didn’t Kill Current Music
Catalog’s share of total EAUs was 72.8% — exactly equal to the prior-year period. This ends a run of increasing catalog market share that led to much — and some might say unnecessary — handwringing over the popularity of current music being released by record labels. By comparison, catalog’s share was 72.4% at midyear 2022 and 69.4% at midyear 2021. (Luminate classifies catalog music as being more than 18 months old.) Not all catalog music could be considered “old,” of course. Swift’s 2019 album Lover, which was No. 10 overall and No. 5 in album sales at the midyear mark this year, falls into the catalog category. So does her 2020 album Folklore, which ranked No. 8 in album sales. SZA’s SOS, released in December 2022, reached catalog status in June even though it was the No. 5 album on the midyear 2024 chart with 1.06 million EAUs. These are examples of “shallow” catalog that have achieved a degree of longevity, not “deep” catalog such as reissues and golden oldies.
Latin Music Has a Chart Disadvantage
Latin music streaming is 32% ad-supported, far below the 19.6% average for all genres and less than half the 12.9% of country music. That matters for both chart position and industry revenues, as premium streams produce greater per-stream royalties than ad-supported streams. In addition, premium streams are weighted more heavily when determining chart position. To compare albums and tracks that are consumed in a variety of formats — physical albums, downloads and streams — Luminate converts streams into EAUs, and ad-supported streams convert to EAUs at a lower rate than premium streams do. It makes sense: Ad-supported streams produce lower per-stream royalties than premium streams. Given Latin music’s relatively high percentage of ad-supported streams, that’s bad news for the genre, whose streams convert to EAUs at about 1,500 streams per EAU — much higher than country and pop, which have the lowest genre conversion rate at about 1,360 streams per EAU. Latin’s high proportion of ad-supported streaming also matters because it tends to under-index in terms of sales: No other genre has lower digital track sales, digital album sales and physical album sales as a percentage of EAUs.
Big Populations, Small Revenue
Developing markets have huge populations but relatively little revenue. India, which has a population of 1.4 billion and 659 million smartphone users, has the lowest proportion of premium streams in the 49 countries tracked by Luminate: Just 9.7% of all on-demand audio and video streams in the country are premium streams, which means 92.3% of all streams come from ad-supported streaming. With a population of 275 million, Indonesia is the fourth most-populated country worldwide, but in terms of music streaming, the country has the second-lowest proportion of premium streams at 15.5%. Globally, the average premium share is 57.5% and is highest in European countries, including Norway (93.5%), Iceland (92.9%), Sweden (89.6%), Netherlands (87.6%) and Denmark (87.1%).
Warner Records has had plenty to celebrate already this year. At the midyear mark of 2024, the label finished an impressive third in current market share at 6.30%. That’s a big jump from the same point last year when it ranked fifth, at 5.62%, and represents the label’s best mark at the midway point in years. That was at least partly due to a string of successful singles in the first half of this year from artists as diverse as Benson Boone, Teddy Swims, Zach Bryan, Dua Lipa, Bebe Rexha and David Guetta, each of whom has made a huge mark on the charts in the first six months.
But this week brought even better news with the release of Luminate’s 2024 Midyear Report. Warner Records had the top three most-streamed songs of the first half of the year in Boone’s “Beautiful Things,” Bryan’s “I Remember Everything” with Kacey Musgraves and Swims’ “Lose Control,” respectively. That marks the first time any label has had the top three songs at the midyear mark since 2015, the year that streaming officially tipped the industry back into profitability. This week, the label also held down the top three spots on Billboard’s Dance/Mixshow Airplay chart with Lipa’s “Illusion,” Rexha’s “Chase It” and Guetta and OneRepublic’s “I Don’t Wanna Wait,” representing the first time Warner has ever achieved that feat and the first time any label has done it since 2018.
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Both are impressive milestones, representing a creative, radio, streaming and commercial achievement for the label across several formats and genres — and that’s even before the release of Bryan’s latest album, The Great American Bar Scene, which topped the charts at five different formats this week and racked up 137,000 equivalent album units in its first full week of availability. All that helps make Warner Records’ executive vp of promotion and commerce Mike Chester Billboard’s Executive of the Week.
Here, Chester talks about those midyear achievements, his work across both radio promotion and overall commerce at the label and how things have changed since he arrived in 2018. “Artists have been tirelessly refining their sound, approach and craft, a dedication now reflected in our success,” he says. “They deserve immense credit for navigating this demanding process and emerging triumphantly, as does the best-in-class team here at Warner Records.”
This week, Luminate’s 2024 midyear report revealed that Warner Records had all of the three most-streamed songs of the year so far, in Benson Boone’s “Beautiful Things,” Zach Bryan’s “I Remember Everything” with Kacey Musgraves and Teddy Swims’ “Lose Control,” the first time in at least a decade that one label has held the top three slots. What key decisions did you make to help make that happen?
Global artist development. In today’s interconnected marketplace, it’s crucial to respect each territory outside the U.S. When nurtured properly, these regions can provide a massive platform for launching artists. Take Benson Boone and Teddy Swims, for example. They’ve spent as much time abroad over the past two years as they have in the U.S. This strategic international presence has been instrumental in driving a global audience, leveraging the power of algorithms and trends to expand their reach. Zach Bryan stands out by doing things his way, with integrity and purpose. His ability to connect authentically with his fans is unparalleled.
In addition to your guys’ success at pop, country and rock, Warner has the top three songs on the Dance/Mixshow Airplay chart with Dua Lipa’s “Illusion,” Bebe Rexha’s “Chase It” and David Guetta and One Republic’s “I Don’t Wanna Wait,” a first for Warner and the first time a label has achieved that since 2018. How were you guys able to hit that mark, and how does the dance/mixshow world differ from other formats?
We have dedicated significant effort to emphasizing the dance genre, as evidenced by the launch of Major Recordings and our ongoing commitment to dance music at Warner Records. Foremost, we are fortunate to have exceptional music from artists such as Dua Lipa, Bebe Rexha and David Guetta, who are able to move culture every day. I would like to extend special recognition to Josh Reich [senior vp of Top 40 & dance promotion] whose strategic vision and passion for the genre have been instrumental in our success.
Warner is having a hugely successful commercial year so far, posting a 6.30% midyear current market share, the label’s best mark in years. What do you attribute that to?
There is no doubt that this achievement is a testament to [Warner co-chairman/COO] Tom Corson and [Warner co-chairman/CEO] Aaron Bay-Schuck‘s incredible leadership. Artists have been tirelessly refining their sound, approach and craft, a dedication now reflected in our success. Keys factors have been patience, consistency and providing our artists with the necessary space for proper development. They deserve immense credit for navigating this demanding process and emerging triumphantly, as does the best-in-class team here at Warner Records.
You joined Warner in 2018 as head of promotion, and took on the broader role of head of promotion and commerce in 2021. How have you seen the commercial landscape evolve over that time and how have you positioned your team to be able to capitalize on that?
Interestingly, 2018 was also the year TikTok made its debut in the United States, revolutionizing our world from day one. Since then, the landscape of artist development has seen remarkable shifts, with audience fragmentation, genre evolution and the growing influence of niche subcultures becoming the norm. Beyond the digital realm, the physical product space has also transformed, offering fans more meaningful and collectible items that create a deeper connection to our artists and their music. As streaming growth evolves, we continue to think deeply about how to monetize our music in many different ways.
BMG and Cirque du Soleil have formed a partnership to handle the live entertainment company’s musical catalog, as well as explore a number of music-oriented initiatives.
The agreement calls for BMG to be the label home for Cirque’s catalog of original scores and soundtracks, administer its music publishing and jointly create new music.
The first release under the pact is the country-themed Songblazers, out today. Songblazers is Cirque’s newest production, presented in conjunction with Universal Music Group Nashville, about two characters who go on a journey to find their own path to country music stardom. The soundtrack was produced by Grammy-winning producer Daniel Tashian.
The partnership will be led by Cirque du Soleil’s new music division, Cirque du Soleil Studio, which is tasked with expanding the brand’s fan base.
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“The power of music has long been a force uniting cultures and peoples in Cirque du Soleil productions around the world. As music plays an integral part in our productions, we’re proud to finally dive into the music industry and explore this new avenue,” said Anne Belliveau, chief customer experience officer for Cirque du Soleil Entertainment Group. “Over the last few years, BMG has brought a fresh vision to the music business, and we look forward to partnering with BMG on a variety of music-related opportunities.”
Marian Wolf, senior vp of music publishing, North America, for BMG added, “Cirque du Soleil is one of the most innovative and creative entertainment companies in the world. We are thrilled to be the new publishing and recorded music home for Cirque du Soleil and to collaborate on upcoming new releases. This will provide unparalleled opportunities for BMG’s diverse roster of artists, songwriters, and catalogs. Together we aim to celebrate and elevate global culture by showcasing diverse music releases and transforming the way global audiences discover new music.”
Cirque’s catalog includes more than 30 titles including the recordings to such popular Cirque du Soleil productions as Ka, O, Alegria, Mystere, La Nouba, Dralion, Saltimbanco, Zumanity and Quidam. (The deal does not include Love, the Cirque production based on the Beatles catalog; that title remains on Apple/Capitol. Separately, BMG has publishing and recording relationships with Beatles drummer Ringo Starr and the late George Harrison).
Cirque’s catalog has earned more than 250 million career streams in the U.S .and more than 500,000 album equivalents sold in the US alone, according to the company.