Record Labels
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A coalition of some of the world’s biggest independent labels, including Beggars Group, Partisan Records, Sub Pop and Because Music, have joined forces to launch a “first-of-its-kind” think tank to promote better understanding of the global music business among governments and policymakers — and advocate on the industry’s behalf.
The Organization for Recorded Culture and Arts, or ORCA for short, will develop and promote research, data, and “qualitative and quantitative evidence that underscore the significant economic, social, and cultural value of music,” said the newly-formed organization.
Founder members also include the U.K.’s Domino Recording Company; Germany-based City Slang and !K7 Music; Spain’s Everlasting Records; and U.S.-headquartered Exceleration Music, Secretly Group and Hopeless Records. Other participants are London-based Ninja Tune, Stockholm’s Playground Music and Canada’s Secret City Records.
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Artists that have either been discovered by or are currently signed to the 14 founder labels include Adele, Nirvana, The National, Pavement, Christine and the Queens, Fontaines D.C., Arctic Monkeys, Mitski and Phoebe Bridgers.
“This is a concept long in the making, arising from a realization of shared values above and beyond our existing collective independent activities,” said Martin Mills, founder and chairman of Beggars Group, in a statement. “Music is an undervalued asset in the daily round, and we seek to translate the motivations underlying its production into an appreciation that art and commerce can live as one.”
In line with the organization’s launch, ORCA has published its inaugural research report, “Setting the Stage: How Music Works.” The free-to-access study is intended to provide government policymakers, finance institutions and cultural development agencies with an in-depth understanding of how the record industry operates and the economic and cultural benefits it generates.
The 155-page report was researched by the nonprofit Center for Music Ecosystems, which is working alongside ORCA, and features case studies of several indie-label artist success stories, including Guadalupe Plata (Everlasting Records), Patrick Watson (Secret City) and Christine and the Queens (Because), as well as an analysis of distribution practices, artist development and income revenues in the indie sector.
“We’re proud of the artists we choose to invest in and the people we choose to work with. We’re also aware of how little actual data there is out there that illustrates how this industry actually works or our contribution to it. We’re incredibly excited to get that ball rolling with this first report,” Tony Kiewel, president of Sub Pop Records, tells Billboard.
ORCA says future reports will focus on collecting primary data to demonstrate the benefits of independent record labels to the wider global music economy, looking at the positive impact the industry has on job creation, social equality, sustainability and culture. Members will meet at least once a month, with the next report due out later this year.
“Whilst we are in competition with the other ORCA founders, we are similar in what drives us to find and develop new talent and there’s a shared incentive to making sure that the benefits of our work are understood beyond just the industry itself,” says Zena White, chief operating officer at Partisan Records and chair of The Worldwide Independent Network (WIN).
White says that one of ORCA’s primary goals will be to measure the economic and social impact of labels’ investments in artist development, which she says has “been sorely lacking” in the global independent sector.
The think tank also aims to address some commonly held misunderstandings about how the record label business model works, explains White, whose label roster includes IDLES, Cigarettes After Sex, Ezra Collective and PJ Harvey.
“Labels at their best underwrite living advances, recording and marketing costs that the artists’ entire ecosystem will benefit from. Of course, there are bad actors, but many are essential to ensuring that music gets made and that it’s heard,” she says.
“We have a fantastic network of global trade associations for independent music… [but] they badly need empirical data that backs up their conversations with governments and players at a local level,” White adds. “ORCA is supplementary to that network and hopes to be able to help.”
“The music business is an incredibly complicated and messy industry,” says Kiewel. “We’re often the canaries in the coal mine when it comes to new technologies. If there are policy conversations happening that affect the livelihoods of independent recording artists and the labels that support them then we think it’s important that they have a seat at that table. I believe that there are many people and policy makers who would be interested in what we have to say, and we want to make sure that those representing our community have tools to help convey their perspectives.”
On Saturday Night Live’s May 18 season finale, Sabrina Carpenter appeared in a sketch as Daphne from Scooby-Doo, watching in horror as Jake Gyllenhaal’s Fred tore the face off James Austin Johnson’s villain. (The gag: Apple Face ID — Never Get Ripped Off Again!) The sketch was a prelude to Carpenter’s two theatrical performances as musical guest. First, she sang her then-new single, “Espresso,” which had debuted the month prior before her main-stage Coachella set and had already soared into the top 10 of the Billboard Hot 100 and Global 200; then a medley of her first two Pop Airplay top 10 singles, “Feather” (No. 1) and “Nonsense” (No. 10), both released in the preceding year-and-a-half.
Two days later, Justin Eshak and Imran Majid — the co-CEOs of her label, Island Records — gathered their staff at Island’s Manhattan headquarters to rewatch the episode. “She’s just a pro; it was an incredible moment,” Majid says later that afternoon of the 25-year-old singer, who first tasted fame as a Disney Channel actress in her early teens. “For a lot of artists, the idea of translating their performance to television is hard,” Eshak adds. “But because she has so much experience with it, it just felt so much more natural and comfortable for her.”
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At the time, the buzz from Carpenter’s SNL debut, coupled with the instant global success of “Espresso,” felt like a mountaintop. After the initial success of “Nonsense,” which reached No. 56 on the Hot 100 in February, “Feather” hit No. 21 and topped Pop Airplay in April. Then “Espresso” exploded, reaching No. 3 on the Hot 100 in June and spending two weeks at No. 1 on the Global 200.
But Carpenter’s momentum has only picked up since. In late June, “Please Please Please” debuted at No. 2 on the Global 200, simultaneously giving her the top two songs in the world. (She maintained that feat the following week, when “Espresso” and “Please Please Please” flipped spots atop the chart.) It also bowed at No. 2 on the Hot 100, making her the first soloist — and second act overall, joining The Beatles — to have her first two top three Hot 100 hits concurrently reach that territory with no other billed acts. The next week, it hit No. 1 on the Hot 100, Global 200 and Global Excl. U.S. charts.
It was the kind of setup that executives dream of: one song building on the next to keep scaling new heights. “We always felt ‘Please Please Please’ had this level of sophistication that really sets her up in a different lens; there’s a bit of Dolly Parton in that song,” Majid says. “But it feels like everything we hoped and dreamed the one-two punch would be.” Or, as Island vp of A&R Jackie Winkler puts it, “ ‘Nonsense’ walked so ‘Feather’ could jog, then ‘Espresso’ ran so that ‘Please Please Please’ could start a stampede.”
Imran Majid, Sabrina Carpenter and Justin Eshak attend Universal Music Group’s 2024 After Party presented by Coke Studios and Merz Aesthetics’ #SmartTox on Feb. 4, 2024 in Los Angeles.
Jordan Strauss
That stampede has set the stage perfectly for the Aug. 23 release of Carpenter’s album Short N’ Sweet and the launch of her North American arena tour in the fall, which sold out in every market within two weeks of its late-June announcement. But already, her success has been one of the biggest artist stories of the year so far, and a big feather in the caps of Eshak, 44, and Majid, 42, who took over the esteemed 65-year-old Island in January 2022 after jointly running the A&R department at Columbia Records for three years.
Carpenter is just one example of how the duo has revitalized Island. In mid-June, following her massive performance at New York’s Governors Ball festival, Chappell Roan’s September 2023 album, The Rise and Fall of a Midwest Princess, reached the top 10 of the Billboard 200 in its 12th week on the chart — just the second time this decade that an album broke into the region for the second time after that long of a climb. And in the first week of July, Roan’s single “Good Luck, Babe!” — which became her first Hot 100 hit when it debuted on the chart in April and is not on Midwest Princess — hit No. 10 on the Hot 100 after its own 13-week climb.
Call it the summer of Island. While the likes of Carpenter, Roan, The Killers, Brittany Howard and Remi Wolf are dominating festival stages, their songs are setting new personal high-water marks on the charts. The buzz started building earlier this year: Howard’s first album for Island, What Now, arrived in February to critical praise; that same month, the biopic Bob Marley: One Love, about Island’s most famous artist and featuring James Norton as label founder Chris Blackwell, grossed over $179 million, according to Box Office Mojo. (Island was not involved in the making of the film but did release an album “inspired by” the movie alongside Tuff Gong Records, which featured artists like Kacey Musgraves, Wizkid and Leon Bridges covering Marley classics.) The Last Dinner Party, originally signed by Island U.K.’s Louis Bloom, released its debut album, Prelude to Ecstasy, and was named “Britain’s hottest new band” by The New York Times Magazine in March; in April, Hulu released a well-received documentary on Bon Jovi — which has spent its entire 40-year career as part of Island — before the band’s latest album, Forever, debuted at No. 5 on the Billboard 200 in June; and alt-pop powerhouse Wolf released her heralded sophomore album, Big Ideas, on July 12. The year ahead also promises new music from Carpenter and Roan, while Shawn Mendes, one of the label’s few reliable hit-makers over the past decade, is in the studio.
“Nowadays, everything’s about culture, and company culture, and the philosophy of how you’re doing things, and Island is definitely a label that’s wired differently,” says Nick Bobetsky, who manages Roan. “They’re not the ambulance chasers, they’re not the TikTok-moment chasers. They’re really committed to supporting their artists in a way that’s really true to those artists, and that is rare in today’s climate.”
Brittany Howard (left) and Justin Eshak at Brooklyn’s Electric Garden Studios in 2023.
Courtesy of Island Records
For Eshak and Majid, it’s validation of the culture that they’ve sought to build since taking over the Universal Music Group (UMG) subsidiary in 2022 — and a testament to the work they’ve done overhauling a label that had slipped down the pecking order as the marketplace evolved in recent years. While the Island Records they inherited — home to Marley, U2, Traffic, Grace Jones and Cat Stevens, among others through the years — may have been rich in history, its more recent track record had been spotty at best, disjointed at worst. Island finished 2021 with a current market share of 0.67%, a number that had fallen steadily over the previous five years, from 1.5% in 2018, according to Luminate.
“We weren’t walking in here inheriting hits. We had to rebuild a roster, which sounds easy but takes time, and no one really knew what the label proposition was,” Majid says. “So we had to go out there and project what that is at a very competitive time.”
But Island’s small roster and small staff allowed it to focus on developing talents like Carpenter and Roan — and to provide that raison d’être that the label had seemingly been missing. That has often meant leveraging the live side of each artist’s career to help catapult new records: The popularity of Carpenter’s “Nonsense,” for instance, was built through the fan response to the city-specific outros she added to each of her opening performances on Taylor Swift’s The Eras Tour, while “Espresso” and “Please” were launched in tandem with her Coachella and Governors Ball performances. “It’s really difficult to break through as an artist anymore unless you have a holistic artist proposition,” Eshak explains.
The label built its strategy for Roan, too, on her live aesthetic; Eshak and Majid tell the story of seeing her perform for the first time at New York’s Bowery Ballroom and how the energy of the crowd struck them more than any of the metrics they had seen on socials or streaming. “The enthusiasm that existed in the crowd was just insane,” Eshak continues. “I remember thinking, ‘How do we tell the story about what happened in Bowery Ballroom to the rest of the world? Because if we can do that, then she’s going to break.’ ”
Imran Majid, Chappell Roan and Justin Eshak attend Universal Music Group’s 2024 After Party presented by Coke Studios and Merz Aesthetics’ #SmartTox on Feb. 4, 2024 in Los Angeles.
Jordan Strauss
The small-but-mighty ethos is a cue Eshak and Majid took from Blackwell, whom they visited at his Goldeneye resort on Jamaica’s north coast shortly after starting at Island. “When we took this job, we had such a reverence for Island and its history,” Eshak says. “Hearing Chris Blackwell talk about artists that historically worked on Island, they would weave their way through culture. The artists that are having success now are fan-driven, have unique artist propositions, and you just [have to] support them in the right way. This label has always stood for creativity and for artistry and for things that may not seem obvious but weave their way through culture.”
In some ways, no label is as beholden to, or in the thrall of, its founder as Island. Since being spun back off as a stand-alone label from the combined Island Def Jam in 2014, successive heads of the company have invoked Blackwell, who left in the late 1990s, when articulating their philosophies. “I wanted to go back to the idea of Chris Blackwell-era Island: an artist-driven label that was a major, but in an intimate manner,” then-president David Massey told Billboard in 2016 about his approach. In 2019, his successor, Darcus Beese, told Billboard, “How I run my business is literally how I think Chris would run his business.”
Eshak and Majid are similar, often invoking the spirits of Blackwell and the label itself — though with their own spin. “It’s not a throwback company by any means; it’s very progressive and market-focused,” Majid says. “But it’s also about curation. If we’re going to have success in this market and with a new generation of artists, you want artists that feel like they love being a part of the company, and you want people that want to work here. And that was kind of what Chris built at Island Records.”
“I’m so happy that Justin and Imran have continued to honor the heart and culture of the label,” Blackwell, 87, tells Billboard. “Looking back, I remember the rush of excitement when I discovered an act, signed them and saw their massive success. Well done, guys.”
Imran Majid, Chris Blackwell and Justin Eshak (from left) at Pebble Bar in Manhattan in 2022.
Kevin Condon
Eshak’s and Majid’s careers have often run parallel over the past 18 years. Both started at Universal Republic under Monte and Avery Lipman in the mid-2000s, when the company had just 23 employees and a small roster; Eshak then spent time at Mick Management before the two reunited in 2013 in Columbia’s A&R department, where they rose to co-heads of A&R. While they seem a study in contrasts — Majid, a New Jersey native, is more outgoing and gregarious; Eshak, from Houston, is more reserved and measured — they’re united by a shared passion and sense of purpose for their artists and their staff, the business and the music, as well as an awareness of their own complementary strengths.
Through their industry arcs, Eshak and Majid have seen the business from Republic’s then-scrappy-upstart vantage point, as well as through the legacy lens of Columbia, one of the oldest and most decorated labels in history. The current iteration of Island, with its immense, venerated catalog and relatively small staff, is something of a combination of the two. “The team at Island is our extended family,” says Janelle Lopez Genzink, Carpenter’s manager. “Every member of the team’s laser focus on delivering in each of their areas has helped us experience these monumental wins.”
But the progress toward this point has not been linear. The duo first needed to overhaul Island, even amid a broader restructuring by UMG. The first two years of Eshak and Majid’s tenure didn’t include much improvement in market share as they reshaped the roster, while UMG shifted Island into Republic Recording Company in early 2024, alongside Republic Records, Def Jam and Mercury, providing resources through its Corps team, with the Island chiefs now reporting to Monte Lipman. Yet despite the reshuffle — and maybe partially because of it and the groundwork laid in those early years — Island has more than doubled its current market share, from 0.62% at the end of 2023 to 1.3% through the end of June.
“Both Imran and Justin are top graduates of ‘Republic University’ from back in the day and have always exemplified the passion, drive and ambition to become leaders in this business,” Republic Recording Company founder and chairman Monte Lipman tells Billboard. “Avery and I couldn’t be more proud of their success in creating such an amazing culture for both artists and executives at Island Records.”
Island’s artists appreciate that culture, too. Carpenter calls Eshak and Majid “collaborative and supportive partners” who “encourage an open dialogue, which is important to me.” “It’s very rare that the higher-ups trust the artist fully,” Roan adds. “It proves Justin and Imran’s method that trusting in the artist results in success and longevity — even outside of music.” And Jon Bon Jovi, whom Majid calls “our Bruce Springsteen,” says the two “truly care about their artists and are supportive and passionate in achieving a shared vision.”
“Certain things are always true: great artists, great artistry, great songs, artists with clear vision,” Eshak says. “But on the business side, it’s almost the opposite, where we’re in a business of constant change. You have to be willing to reinvent yourself and reteach yourself things all the time in this business. And I think, ultimately, the labels that are successful have that approach: They understand culture, they understand what actually moves the needle in the marketplace, and they’re constantly evolving.”
Island’s latest evolution is still developing, with several more emerging artists in the pipeline, Grammy hopes on the horizon and a new partnership with Virgin Music to sign regional Mexican star Carín León — the label’s first true foray into Latin music, which was announced in late June. But for the moment, Majid says, there’s a chance to simply take a breath, look around and appreciate how far they’ve come. “It’s two-and-a-half years of going seven days a week to just catch a break,” he says. “To have a moment like this that we don’t take for granted and we’re very sober about — it’s very fulfilling.”
This story will appear in the July 20, 2024, issue of Billboard.
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In several different ways, the modern era of the U.S. recorded music business can date its origins to the year 2015. That was the year that Apple Music and TIDAL debuted in the United States; the year that streaming finally matured, taking up the baton as the dominant revenue stream among all formats in the country; and the year that, after more than a decade of decline, the business finally began to see its first shoots of growth, kicking off an upward trend that has still, 10 years later, not abated.
This week, Luminate released its annual midyear report on the U.S. business, providing a relatively convenient bookend to the first 10 years of what can reasonably be referred to as the official streaming era. The midyear charts threw up a few surprises (the enduring success of Benson Boone’s “Beautiful Things” led to it becoming the most-streamed song of 2024 so far) and some more obvious conclusions (Taylor Swift, of course, dominated the album charts with The Tortured Poets Department).
But it also revealed several milestones and achievements that have not happened in the past 10 years of the Luminate (and, prior to it, MRC Data and Nielsen) reports. So with the caveat that it’s still just the midway mark, and release dates and other factors weigh more heavily in smaller sample sizes, here are five stats that demonstrate that the first half of 2024 has been the most unusual year of the past decade.
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The Sheer Scale of Taylor’s Dominance
Swift’s Tortured Poets Department easily outstripped every other album at the midyear mark, having spent 12 of the 26 weeks of the year so far atop the Billboard 200. But at the midyear mark, its dominance could also be referred to as historic compared to the past 10 years. At 4.66 million equivalent album units, TTPD has outstripped the No. 2 album, Morgan Wallen’s One Thing At a Time, by more than double — and nearly triple — the latter’s 1.776 million, with a total that’s 2.62 times higher than Wallen’s album (which, to be fair, was released in March 2023).
That’s the first time in the past decade that the No. 1 album’s first-half total doubled, much less more than doubled, the No. 2 album. The differential between the two, 2.884 million units, is over 1.5 million more than the disparity between any other top two albums over the time period, with 2023 being the only other year the disparity topped 1 million units. (Last year, Wallen’s One Thing At a Time came in at 3.312 million units, 1.33 million more than SZA’s SOS.) The closest race of the past 10 years? That’d be in 2017 when Kendrick Lamar’s DAMN. edged out Ed Sheeran’s divide by just 23,000 units at the midway mark.
The No. 1 Song Didn’t Reach No. 1 on the Hot 100
Boone’s “Beautiful Things” was an early breakout story this year, as the singer seemed to explode out of nowhere with the biggest hit of his career so far. The song got off to a flying start, debuting at No. 15 on the Billboard Hot 100 in January — and then spent all but two weeks in the top 10 of the chart, landing at No. 1 for the most-streamed song of the year so far on Luminate’s mid-year tally.
The only quirk? “Beautiful Things” peaked at No. 2 on the Hot 100, never quite reaching No. 1. Given that, it may seem odd that it finished No. 1 in streams at the midyear point, though that can be explained by its sustained dominance in the top 10 and its early-year debut, which gave it the full six months to rack up all those streams. What is odd, however, is that it’s the only song in the past decade that landed at No. 1 at the midyear mark and also never reached the top of the Hot 100. In fact, every other year since 2015, the top song halfway through the year had spent at least five weeks in the top slot — ranging from the Encanto cast’s “We Don’t Talk About Bruno” in 2022 (five weeks) to Mark Ronson and Bruno Mars’ “Uptown Funk!” in 2015, which hit 14 weeks. (Lil Nas X’s “Old Town Road,” No. 1 at the halfway mark in 2019, ultimately spent 19 weeks at No. 1, though it was only halfway through that run at the midyear point.)
Midyear No. 1 Songs by On-Demand Streams (Weeks at No. 1)2023: Miley Cyrus, “Flowers” (8 weeks)2022: Encanto Cast, “We Don’t Talk About Bruno” (5 weeks)2021: Olivia Rodrigo, “Drivers License” (8 weeks)2020: Roddy Ricch, “The Box” (11 weeks)2019: Lil Nas X’s “Old Town Road” (19 weeks)2018: Drake, “God’s Plan” (11 weeks)2017: Ed Sheeran, “Shape Of You” (12 weeks)2016: Rihanna feat. Drake, “Work” (9 weeks)2015: Mark Ronson feat. Bruno Mars, “Uptown Funk!” (14 weeks)
Warner Records Lands Top 3 Songs
About those top-streamed songs? Boone’s was No. 1, followed by Zach Bryan feat. Kacey Musgraves with “I Remember Everything” and Teddy Swims’ “Lose Control” at Nos. 2 and 3. All of those songs were released by Warner Records, giving the label a trifecta. No other label has had the top three songs at the midyear mark in the past decade, giving Warner sole possession of the feat in this era.
A few labels have come close, however: in 2022, Atlantic Records had the top song (“We Don’t Talk About Bruno”), the No. 4 song (Kodak Black’s “Super Gremlin”) and had one of its stars, Jack Harlow, on the No. 2 song (Lil Nas X and Harlow’s “Industry Baby”, which was released on X’s label Columbia). In 2018, Republic Records had three of the top four, with one of its artists, Drake, on the No. 3 song: Blocboy JB feat. Drake, “Look Alive.” However, “Look Alive” came out on Drake’s label OVO Sound, which was distributed by Warner at the time. In 2016, Def Jam had Nos. 2 and 3 (Desiigner’s “Panda” and Justin Bieber’s “Sorry,” respectively) and a distribution deal with Roc Nation, which put out the No. 1 song, Rihanna’s “Work” featuring Drake — though Def Jam didn’t technically release it.
Republic Records Lands Top 3 Albums
Not to be outdone, the top of the midyear albums chart also threw up a trifecta for a label: Republic Records, which released Swift and Wallen’s albums (the latter in partnership with Big Loud), as well as the No. 3 album, Noah Kahan’s Stick Season (in partnership with Mercury). Somewhat surprisingly, given Republic’s recent dominance in the market share standings as well as the overall dominance of Wallen and Swift in recent years, this is the first time Republic has taken the top three slots at the midyear mark — and, over the past decade, the only time any label has held down the top three at this point in the year.
The only time another label came close was, unsurprisingly, Republic. In 2023, the label had four of the top five albums of the year at the midway mark, but it was thwarted from claiming the top three by SZA’s SOS, which was released by Top Dawg/RCA.
Just Five Albums in the Top 10 Came Out Within the Past 12 Months
The top 10 albums chart by equivalent units served up plenty of familiar titles this year: Swift, Wallen, Kahan, SZA and Bryan, as well as albums from Beyoncé (Cowboy Carter, No. 4) and Future & Metro Boomin (We Don’t Trust You, No. 6). But incredibly, only five of the top 10 were released within the past 12 months: Swift’s TTPD, Beyoncé’s Carter and Future & Metro’s Trust, all of which came out in 2024. Bryan’s self-titled album, which finished at No. 8, was released last August, while Swift’s No. 9-ranking 1989 (Taylor’s Version), a re-recording of an album that came out in 2014, was released last October. That’s the fewest number of titles in the top 10 of any midyear consumption chart in the past 10 years to have been released within the prior 12 months (dating back to the midyear mark of the year before), with no other year going back to 2015 serving up fewer than six.
In fact, that number has been steadily dropping for a half-decade now: Since 2019, when nine of the top 10 were released within the prior 12 months, there have been nine (2020), seven (2021), seven (2022) and six (2023) in the top 10. (In 2017, all 10 fit the criteria.) The streaming era has done many things for the music business, but one thing it has done more than any other is to expose people’s listening habits rather than buying habits. And the consumption numbers of current (releases within the past 18 months) vs. catalog (releases older than 18 months) have borne out the by-now long-established trend that catalog rules consumption: This year, Luminate calculated that catalog listening accounted for 72.8% of listening share, a figure that remained the same as it was at the midway point in 2023.
But the sheer staying power of some of these top 10 albums is what’s most impressive. Wallen’s One Thing At a Time is over a year old by now; but his 2021 album, Dangerous: The Double Album, is still at No. 7. SZA’s SOS, No. 2 at the midyear mark last year, came in at No. 5. Kahan’s Stick Season originally came out in October 2022. 1989 (Taylor’s Version) is a collection of songs that, in their original form, date back a decade. And at No. 10, Swift’s Lover is approaching its fifth anniversary in August.
Will the charts remain so static in the future? Is it a product of the maturation of the streaming age? Or is it just that these albums are simply so dominant that they elbowed out all others? It’s something to keep an eye on.
K-pop label JYP Entertainment is launching a Latin music division that will focused on developing artists for the Spanish language market, the company tells Billboard. The subsidiary’s first project is an audition show called L2K that will “discover, train and launch” the next global Latin girl group — essentially a Latin sequel to JYP’s audition […]
Reggaetón star Daddy Yankee sold some of his master recordings to Cinq Music and a financial partner around 2021, Billboard has learned, laying the groundwork for Cinq to reissue his 2004 breakout album, Barrio Fino, and five other LPs on vinyl later this year.
Cinq did not provide any details of the purchase to Billboard and no other information about the deal was available. The sale of some of Daddy Yankee’s master recordings was confirmed by multiple independent sources but went unreported at the time.
Sources tell Billboard that Daddy Yankee continues to retain ownership of his publishing catalog, which is administered worldwide by Sony Music Publishing. In the U.S., Spirit Music administers some of Daddy Yankee’s songs, including his hit breakout “Gasolina.”
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A major acquisition was hinted at years ago. In 2021, Jason Peterson, chairman/CEO of GoDigital Media Group, the parent company of Cinq Music, told Billboard the company had acquired “one of the largest and culturally significant” Latin music catalogs but did not specify the name of the artist.
Cinq Music and Daddy Yankee have worked together in different ways for many years, and in 2018, Cinq partnered with Janet Jackson for the release of her single “Made For Now,” which featured Daddy Yankee. Since 2017, Cinq Music, with Barry Daffurn as president, has raised $410 million to fund music acquisitions, including $250 million secured in February. Following the latest funding, the company said it had $300 million in assets under management spanning 80,000 recorded music and publishing copyrights.
Cinq Music is no longer silent about its involvement with Daddy Yankee’s catalog. On Monday, the company announced it will mark the 20th anniversary of the Barrio Fino and “Gasolina” with the release of a Bhangra remix of the track by Tesher on July 26. According to the press release, the remix will be featured on the covers of numerous playlists at music streaming platforms as well as Spotify-branded outdoor billboards in Mexico City.
Barrio Fino and two other albums, El Cangri.com (2002) and the compilation Los Homerun-es (2003), will be reissued on vinyl by Cinq Music on August 16. Three more albums are slated for vinyl reissues on Nov. 15: El Cartel: The Big Boss (2007), the Talento de Barrio soundtrack (2008) and Mundial (2010).
“Gasolina” reached No. 32 on the multi-genre Billboard 100 singles chart in 2005 and hit No. 10 on the U.S. Hot Rap Songs chart and No. 11 on the U.S. Rhythmic chart. Billboard cited the song’s “unforgettable hook” and “revolutionary” beat when it ranked it No. 22 on a 2020 list of the Top 50 Latin songs of all time.
Ironically, “Gasolina” never reached No. 1 on the Hot Latin Songs chart, peaking at No. 17. Although the song was a breakthrough for Daddy Yankee and helped popularize reggaetón to a broader marketplace, its chart success was limited because few radio stations played reggaetón at the time.
Barrio Fino was the first reggaetón album to debut at No. 1 on Billboard’s Top Latin Albums chart (on July 31, 2004) and won a Latin Grammy in 2005 as Best Urban Music album. It would spend 24 weeks at No. 1 on Top Latin albums, and all told, an astounding 358 weeks on the chart. On the multi-genre Billboard 200, Barrio Fino peaked at No. 26 in 2005 and spent 54 weeks on the chart. To date, the album has sold 2.2 million equivalent album units in the U.S., according to Luminate.
Prajin Parlay Inc. and Double P Records announced on Tuesday (July 16) a joint deal with Mexican-American DJ and producer Deorro, who joins the imprints for management and label services effective immediately, Billboard has learned. Led by George Prajin, Prajin Parlay Inc. is home to superstar Peso Pluma, Santa Fe Klan and Codigo FN, among […]
More than a month after Min Hee-jin, CEO of HYBE subsidiary label ADOR, successfully avoided HYBE’s attempt to dismiss her from the job, another HYBE imprint has reportedly filed a lawsuit against the embattled executive and NewJeans executive producer.
On Monday (July 15), Korea JoongAng Daily reported that Source Music, the Korean label under the HYBE Labels umbrella that’s home to K-pop girl group LE SSERAFIM, has sued Min for 500 million Korean won (about $361,000), accusing her of defamation and disruption of business stemming from comments she made during two emotional press conferences she held in April — thereby damaging the LE SSERAFIM project.
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During those press conferences, Min claimed that her girl group project under Source, where she previously worked, was pushed aside by HYBE after the company decided to focus its efforts on LE SSERAFIM, which notably included two members of the hugely popular girl group IZ*ONE. According to Min, that change in focus led her to move away from Source and establish ADOR — a label operating under the HYBE Labels umbrella that Min previously told Billboard “started with guaranteed autonomy” — to house her project, which eventually became NewJeans.
During the press conferences, the ADOR CEO also shared what some considered disparaging remarks about several HYBE artists and Source Music’s talent casting — telling reporters that future NewJeans member Minji was the only Source trainee she wanted to recruit and that she cast the rest of the group members herself.
Source Music has not shared a statement on the reported lawsuit. Billboard has reached out to HYBE to verify the lawsuit and offer further details.
While LE SSERAFIM’s Coachella debut in April turned the girl group into a hot topic in Korean media over the pressure put on K-pop artists, Min’s subsequent remarks turned up the heat even more. The backlash to her critiques was so harsh that it led NewJeans and its five members to disable comments on their Instagram pages in late June.
The new lawsuit marks the second time a HYBE subsidiary has filed suit against Min. In May, BELIFT LAB sued Min for defamation and obstruction of business over her comments that BELIFT’s breakout girl group ILLIT had plagiarized NewJeans, stating that the label “copied all the formulas that we had with” the group.
The new lawsuit reportedly filed by Source is just the latest development in a continually unfolding drama. On July 9, Min reportedly arrived at the Yongsan Police Station in Seoul for questioning after HYBE reported her to authorities for breach of trust. Continuing her proclivity to engage in direct media interactions (instead of putting out press releases and statements like HYBE), a smiling Min left the station after eight hours and, to the press gathered outside, called HYBE’s accusations “comedy.”
Amid the commotion, NewJeans has continued rolling out new music. In late June, the group released its first two singles aimed at the Japanese market: “Supernatural” (which peaked at No. 7 on the Billboard Japan Hot 100) and the B-side “Right Now” (which peaked at No. 47 on the same chart) before holding a fan meeting at the famous Tokyo Dome. Meanwhile, Source Music confirmed that LE SSERAFIM is set to drop new music at the end of August following the February release of its EP Easy, which peaked at No. 8 on the Billboard 200.
Republic Records has named Miles Beard and David Wolter as co-heads of A&R, the company announced today (July 15). Beard, based on the West Coast, and Wolter, based on the East Coast, will report to label president and chief creative officer Wendy Goldstein.
The duo, who both joined Republic in 2022, had previously served as executive vice presidents of A&R for the label. Their new roles will see them jointly lead the A&R development and strategy for the company, as well as oversee partnerships, alongside executive vp Danielle Price, who oversees the R&B/hip-hop A&R team.
“When it comes to A&R, Miles and David are two of the industry’s most savvy and visionary executives,” Goldstein said in a statement. “They could not be more different in terms of preferences, approach and even location of the two coasts, however they’re the perfect match to run this department. They share a rare passion for music and they’re intensely committed to championing their artists. Their partnership is genuinely next-level and will be integral to our success going forward. Our focus is creating a dominant A&R team with them along with our hip-hop/R&B initiatives.”
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Beard has worked with the Jonas Brothers, with Republic’s K-pop partners on Stray Kids and TXT, and on Republic’s recent deal with Nigerian label Mavin for the singer Ayra Starr, among other projects. Wolter, meanwhile, has worked with artists like Conan Gray, Greta Van Fleet, Miranda Lambert and Zoe Kravitz for the label. Republic Records — also home to superstars like Taylor Swift, Ariana Grande, The Weeknd and more — is part of Republic Recording Company, alongside Island Records, Def Jam Recordings, Mercury Records, Casablanca Records, indie distributor Imperial and the Corps team, under Monte Lipman and Avery Lipman.
“It’s incredible to work with Wendy, Monte and Avery Lipman, and my new partner Miles,” Wolter said in a statement. “We have so much support. Wendy’s instincts are unrivaled. Monte and Avery don’t stop, and it’s inspiring. When it comes to our artists, I just want to be a vigilant fighter for their artistry. My main hope is for our team to have a massive impact on culture and challenge the status quo.”
Wolter spent a decade at Virgin Records from 1997 through 2007, signing The Gorillaz, before spending another 10 years at RCA Records, before returning to Virgin under the Capitol Music Group umbrella in 2017, and then shifting to Republic in 2022. Beard, a longtime DJ, spent 10 years at Mike Caren’s APG, signing Charlie Puth, before moving to Republic.
“Wendy, Monte and Avery make you feel like anything is possible,” Beard said in a statement. “The way they balance being good people and being extremely competitive is one-of-a-kind. David and I are opposites. He’s a purist, I just love what people love. He has no filter, I’m measured. He’s tall, I’m short. We complement each other in every way. As an A&R, I want to make our artists feel comfortable and motivated to think as big as possible.”
The year so far has served up a number of intriguing new artist stories, with the likes of Benson Boone, Chappell Roan and Tommy Richman soaring to the top region of the charts for the first time. But perhaps no artist has had a more historic rise in 2024 so far than Shaboozey, whose “A Bar Song (Tipsy)” became his first-ever No. 1 song on the Hot 100 this week — a huge achievement for the artist, his team and his label partner, EMPIRE.
The achievement comes more than a month after the release of Shaboozey’s latest album, Where I’ve Been, Isn’t Where I’m Going, which debuted at No. 5 on the Billboard 200, easily the best mark of his career. But its significance goes well beyond that. After two guest spots on Beyoncé’s Cowboy Carter album helped introduce him to a mainstream audience, Shaboozey released “A Bar Song (Tipsy)” and saw it become the first song in history to reach the top 10 of the Country, Pop, Adult Pop and Rhythmic Airplay charts — a true testament to its cross-genre, or even genre-less, appeal — while making him the first Black man, and second Black artist overall after Beyoncé earlier this year, to top both the Hot 100 and Hot Country Songs charts.
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It’s also a big milestone for EMPIRE, which launched its Nashville division in 2019 and started working with Shaboozey a few years ago. After releasing his Cowboys Live Forever, Outlaws Never Die album in October 2022, EMPIRE threw the weight of the company behind the singer, bringing in the full force of its marketing, A&R and global teams, as well as devising the radio strategy that helped to deliver such a historic result. And the achievement helps make EMPIRE COO Nima Etminan Billboard’s Executive of the Week.
Here, Etminan, who alongside company founder/CEO Ghazi has built EMPIRE into an indie powerhouse for more than a decade now, talks about the company-wide strategy to help boost Shaboozey’s work, as well as what the recent achievements for his music mean for the industry and for EMPIRE itself. “We’re scratching the surface of an artist with immense talent, depth and longevity,” Etminan says of Shaboozey. “He’s got stories to tell, emotions to share and hearts to touch. I believe that we will be seeing him play arenas across the globe for many years to come and I’m excited to be there for it every step of the way.”
This week, Shaboozey’s “A Bar Song (Tipsy)” reached No. 1 on the Hot 100. What key decision did you make to help make that happen?
Shaboozey’s project has been an “all hands on deck” experience at EMPIRE. A key decision was to involve every department in every territory early on — they all played a role in this record in one way, shape or form. It’s hard to pinpoint specific decisions with a song this big; it’s a culmination of efforts.
This is Shaboozey’s first No. 1 single, after you guys have spent the past few years working with him. How have you helped him develop to get to this point, and how did you help push the song to these heights?
We saw potential in Shaboozey since our first meeting with him. He was passionate, talented and had a clear vision of what he was trying to achieve, but was still navigating his path to success in this industry. One of the key decisions was made after the release of Boozey’s first album with EMPIRE called Cowboys Live Forever, Outlaws Never Die — he and his manager Abas Pauti called me in late 2022 trying to figure out next moves and we decided to bring him closer into the core EMPIRE umbrella. His potential as a global star was starting to be apparent and we brought in marketing and A&R resources from our San Francisco headquarters to complement what our Nashville team was doing on the ground. We strategized closely with his managers Abas and Jared [Cotter] and the upward curve began with the release of “Let It Burn” in the fall of 2023. It became clear we had something very special on our hands and the building started to rally around him.
This achievement also comes five years after EMPIRE launched its Nashville division. How have you built up and grown that aspect of the business, and how do you continue to support it moving forward?
Our Nashville division got its start somewhat serendipitously in 2019 with Willie Jones. Willie was not active at the time and didn’t have any music outside of an old X Factor audition video that had went viral some years back. He was a Black country artist with an incredible voice and Ghazi and I decided to take a chance and do a deal with him. From there, we started to assemble a staff on the ground and slowly made a name for EMPIRE in Nashville — brick by brick. Ghazi firmly believed that country music was going to follow in urban music’s footsteps with just a few years’ delay — and he was right. The town was ripe for new energy and we were quickly able to sign an impressive roster of artists and developed some amazing talent on both the record and the publishing side. We’ve been pushing Nashville for five years and are planning on continuing to do so.
Shaboozey is the first Black man, and second Black artist overall after Beyoncé earlier this year, to top both the Hot 100 and Hot Country Songs charts. What is the significance of that for you guys and for him?
It’s a sign of the times — genres are merging, styles are blending and the audience’s music taste is broader than ever. Artists don’t need to be put in boxes — whether it be by race, genre or eras. Good music is good music and the listeners largely get to dictate the charts.
The song is the first in history to reach the top 10 of the Country, Pop, Adult Pop and Rhythmic Airplay charts. What was your guys’ radio strategy?
There were many, many doubters of our ability to work this record at radio. The industry loves telling independents that there’s a ceiling to what they can do on their own and this was no different. We were told it can’t be done, and as we like to do, we proved them wrong. We’ve assembled a fantastic team that we had full faith in — and they delivered.
This achievement is also a capstone for an incredible first half of the year for Shaboozey overall, with his two guest spots on Beyoncé’s Cowboy Carter and the No. 5 debut of his own album, Where I’ve Been, Isn’t Where I’m Going. How do you push things forward from here?
As cliche as it may sound, this is just the beginning for Shaboozey. The album has a lot of life left in it and some incredible songs that we will work. We’re scratching the surface of an artist with immense talent, depth and longevity. He’s got stories to tell, emotions to share and hearts to touch. I believe that we will be seeing him play arenas across the globe for many years to come and I’m excited to be there for it every step of the way.
You’ve been with Ghazi basically since the beginning of EMPIRE, helping to build this company. What does it mean for you guys to achieve this No. 1?
My path started in hip-hop. I started off as a fan of rap music in Germany, where I grew up, launching DubCNN, a platform focused specifically on West Coast hip-hop. That is what brought me to California, building friendships with some of my favorite artists growing up, and meeting Ghazi in 2008 via Daz Dillinger. My only goal at the time was to find a way to make a decent living doing something in music. No. 1 Billboard records were not on my radar — I liked underground music and I loved to help new artists gain an audience. But I saw the potential of what were doing when I watched Kendrick Lamar go from an unknown mixtape artist when I first interviewed him in 2007, to becoming a household name after his EMPIRE-released Section.80 and ultimately the biggest rapper in the world.
Ghazi and I share a passion for culture, authenticity and doing good business. What matters the most to us is doing things with integrity and leaving a legacy behind that we can be proud of. There’s a lot of foolishness that goes on in this industry; I’ve seen it from afar and I’ve experienced it firsthand. If we weren’t going to do it our way, we’d rather not do it at all. Shaboozey’s success is exactly that. He’s been through the major system, he’s seen behind the curtain, and partnering with someone like him, who shares similar values and ethics, and taking a record all the way to the top is extremely gratifying. However, I’d be lying if I said it was a goal I thought about or set out to achieve — I never chased awards, charts or any sort of outside validation. But I’m grateful for it when it happens.