Record Labels
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Warner Music Group has expanded its corporate development team by appointing Alfonso Perez-Soto as executive vp of corporate development, focusing on recorded music, and Michael LoBiondo as senior vp of corporate development, focusing on publishing. Both will report to Michael Ryan Southern, executive vp and chief corporate development officer, who has led WMG’s global M&A activities since August.
The company said this new structure provides WMG with dedicated dealmakers for each side of the business, enabling targeted investments and acquisitions across music rights and technology. Due to this reset, the leaders of Warner Music’s Emerging Markets territories, who previously reported to Perez-Soto, will now report directly to Simon Robson, president of Europe, the Middle East and Africa, recorded music.
Perez-Soto has spent much of the last two decades at Warner Music, having joined the company in 2005 as vp of business development for Latin America and US Hispanic markets. He was bumped up to senior vp in 2012 and in 2017 originated the position of senior vp, global business development and chief commercial officer, emerging markets. A year later he was elevated once again to executive vp of Eastern Europe, Middle East and Africa, and in 2021 was promoted to president of emerging markets. In that role, he has designed and implemented a growth strategy based on M&A, geographical expansion and organic artistic success that significantly expanded Warner’s footprint in these emerging territories. Earlier in his career, Perez-Soto held stints at Telefonica, Universal Music Group and Nokia.
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LoBiondo has been serving as head of business development for Warner Chappell Music, WMG’s music publishing arm, since 2021. In this role, he’ ha’s been responsible for identifying and executing strategic acquisitions and partnerships to benefit the publisher’s frontline songwriters and its iconic song catalog. Prior to this, he held various positions at WMG, where he had a hand in numerous major initiatives, including the acquisition of Parlophone Label Group and several Series A music technology investments. Between his tenures at Warner, LoBiondo worked at the artist development company mtheory. He began his career as an analyst at Goldman Sachs.
Southern expressed confidence in Perez-Soto and LoBiondo, calling them “tenacious and curious leaders with a deep understanding of the music industry and its key players… We’ve committed to grow WMG through a mixture of organic and M&A activity. Now we’ve got a dedicated dealmaking beacon for each set of rights that’ll enable us to continue to improve our service to artists and songwriters.”
After the holiday period subsided, Atlantic Records kicked the year off with a bang, and are now setting records and breaking barriers because of it. The chief reason: the runaway success of Rosé and Bruno Mars’ “APT.,” which this week spends its second week atop the Pop Airplay chart after becoming the first song by a K-pop artist to top that particular chart.
It’s a remarkable achievement for an artist, and a genre, that has been making waves in the U.S. for years now, first with BLACKPINK and now as a solo artist. And it’s not just on the U.S. pop airwaves that the song has been a massive success — this week, “APT.” spends its 14th week at No. 1 on the Global Excl. U.S. chart, tying the record for the longest-running No. 1 in that chart’s history, while also returning to No. 1 on the Global 200 for a 12th week, making it officially the No. 1 song in the world once again. And it helps Atlantic Music Group executive vp of promotion Brady Bedard earn the title of Billboard’s Executive of the Week.
It’s not just “APT.” fueling this hot streak; Mars, despite not having released an album since the Silk Sonic team up with Anderson .Paak An Evening With in 2021 and without a solo album since 2016, has three songs in the top 20 of the Hot 100: “APT.,” (No. 3), “Die With a Smile” with Lady Gaga (No. 2) and “Fat, Juicy & Wet” with Sexyy Red (No. 17). It’s another big moment for Mars, who just took over as the artist with the most monthly Spotify listeners, passing 150 million in January.
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Here, Bedard talks about the success of “APT.,” how the global numbers have boosted domestic radio efforts and why Mars is having such a moment right now. “He’s one of the most talented, important, versatile artists of this century who continues to build one of the best catalogs in music,” Bedard says. “He continuously elevates both popular music and popular culture with hit after hit after hit — and judging by the world’s reaction we can all agree we are all better for it.”
This week, Rosé and Bruno Mars’ “APT.” spends its second week atop the Pop Airplay chart. It’s the first-ever song by a K-pop artist to reach that mark on that chart. What key decision(s) did you make to help make that happen?
It was the sum of all the parts. Rosé was in prime position to finally break out as a solo artist, and with the iconic touch of Bruno Mars it marked for a perfect collaboration. There was, unanimously, an irresistible energy to the song which translated in the immediate huge metrics in the U.S. and globally. Programmers ear-picked it from the start, as did their audience. Starting with our chart debut until reaching No. 1, the weekly airplay growth was textbook. It’s almost never a straight line to get to the top of any airplay chart, but this one was as close as it gets to perfect.
Has K-pop become more accepted at pop radio now, or was there something in particular about this song and campaign that made it particularly effective?
The answer really is both. Now more than ever K-pop is seen as part of the pop pantheon. Beata Murphy at KIIS in Los Angeles created a two-hour specialty show — iHeartKPOP with JoJo — that now runs across every iHeart Pop airplay station on Sunday nights. That didn’t exist a year ago.
In the specific case of Rosé, genres get “labeled” a lot in the pop airplay sphere based on the type of artist — that’s a K-pop artist, or that artist is a country or rock artist, etc — and while “APT.” is by a K-pop artist and that rightfully should be celebrated, when all those labels are stripped away at its core it’s just a really great pop song by an incredible rising pop artist.
At the same time, the song ties the record for the longest reign at No. 1 on the Global Ex-U.S. chart, at 14 weeks. How does that tangible global success help you in the promotions world?
The work the core team at the label provides is essential to what we do in promotion. Of course, starting with the music, Rosé’s Atlantic A&R Gelareh “G” Rouzbehani and then on to [VP of marketing] Jackie Wongso running point on the crucial marketing efforts, [executive vp of streaming and sales] Drew Maniscalo on the commerce side working in tandem with Liz Drummey and the global marketing team. With [Atlantic senior manager of digital] Kyle Viti pushing the massive digital footprint, and [Atlantic senior director of media] Ted Sullivan on the press side rolling out strategic media appearances all with identifiable eye-popping creative integration from [vp of creative] Trevor Newton in partnership with THEBLACKLABEL is nothing short of invaluable. The massive success their teams did here in the US and globally armed us with the information and positioning our promotion team needed to give our radio partners the confidence in this record week after week. We couldn’t have maximized what we did on the airplay charts without their expertise and insight.
Between “APT.,” “Die With a Smile” with Lady Gaga and the Sexyy Red-assisted “Fat Juicy & Wet,” Bruno has three songs in the top 20 of the Hot 100, even without having put out a solo album in almost a decade now. What makes him such an enduring hitmaker, and how do you help boost that on radio?
And look at the sonic array of those three songs! Radio is drawn to him in the same way everyone else is. He’s one of the most talented, important, versatile artists of this century who continues to build one of the best catalogs in music. He continuously elevates both popular music and popular culture with hit after hit after hit — and judging by the world’s reaction we can all agree we are all better for it.
How has the job of promotions at a record label changed over the course of your career?
Having great music and strong relationships remains core to the art of promotion. The shift is really in the strategy. In general, when I started 25 years ago, promotion teams pushed a song on the radio to work toward breaking an artist or song. Radio airplay drove the consumer into the malls and retail record outlets to buy the music — a model that worked for decades. In today’s dominant streaming and social media climate, once an artist or song is identified and verified as a winner inside of the various forms of data and metrics, then we amplify with the radio audience to take it to another level — bigger and with a long-tail effect. How much audience and how many formats can we reach in a campaign? How many songs can we reach with chart topping success? And then, once we get there, how long can we stay there? That makes the promotion work navigating radio and its hundreds of millions of weekly audience impressions as important as it has ever been.
What predictions do you have or trends are you keeping an eye on in the music business for 2025?
I predict we will continue to see a rise in more genre-bending hit songs finding their way across multiple airplay charts.
Bell Partners Worldwide has acquired Tennessee-based Christian label Gotee Records’ label operations and Emack Music Publishing arm. The partnership marks the launch of a new division, Bell Partners Christian Music, aimed at expanding the global reach of Christian music artists.
Gotee executives Joey Elwood and Toby McKeehan (tobyMac) will continue in leadership roles at Gotee as well as at Bell Partners Christian Music, with Elwood serving as CEO of the latter.
Producers Todd Collins and Elwood, along with Grammy-winning artist tobyMac, founded Gotee Records in 1992. The label has launched the careers of artists including Christian hip-hop pioneers GRITS, Christian R&B group Out of Eden, Relient K (“Who I Am Hates Who I’ve Been”), Jennifer Knapp, SonicFlood (“I Could Sing of Your Love Forever”) and Jamie Grace. Gotee’s current roster includes Jon Reddick (“God Turn It Around”), Cochren & Co. (“Money Can’t Buy”), Terrian (“In The Arms”), Ryan Stevenson and Joseph O’Brien.
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Bell Partners Worldwide is headquartered in Stockholm, Sweden, with operations across the United States, Europe, Asia and Latin America. The multifaceted music company specializes in rights management, publishing, synchronization, licensing and label services.
“This isn’t an exit strategy — it’s a strategic evolution,” Elwood said in a statement. “After many discussions with Bell Partners, we saw the potential in combining our 30 years of independent label experience with Bell Partners’ global infrastructure. This partnership allows us to elevate Christian music on a worldwide scale, and we’re excited for what’s ahead.”
Hayden Bell, founder/CEO of Bell Partners, added, “We are excited to welcome Gotee Records into the Bell Partners family. Joey and Toby have built an amazing company that has been a cornerstone of the Christian music industry, and I couldn’t wish for better partners as we move forward. This partnership not only strengthens our commitment to nurturing talent but also underscores our dedication to expanding the global influence of Christian music. Together, we will unlock new opportunities for artists, empower their voices, and share their inspirational messages with audiences around the world.”
Following Cindy Mabe’s departure as CEO/chairman of Universal Music Group Nashville (UMGN) earlier on Thursday (Feb. 6), parent company Universal Music Group has appointed Mike Harris as CEO and named noted producer and nine-time Grammy winner Dave Cobb as chief creative officer.
The move is a return to UMGN for Harris, who served as COO/executive VP there until his departure last September.
“We see an incredible opportunity to expand our presence in Nashville and build upon our industry leading track record,” said Sir Lucian Grainge, chairman/CEO of UMG, in a statement. “The worldwide success of our country artists demonstrate that the genre truly has no boundaries and I’m excited for what lies ahead creatively and commercially.”
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“I am humbled to have been asked by Sir Lucian to lead UMG Nashville at such an important and exciting time in country music,” said Harris, who had initially joined UMGN in 2016 after 15 years at EMI. “I also look forward to work closely with Dave Cobb, the amazing roster of artists and my friends at UMG Nashville.”
Cobb said, “I am incredibly excited to work with Mike Harris, I’m here to honor the past, and look to the future.”
Cobb, one of Music City’s most in-demand collaborators, has produced such albums as Chris Stapleton’s 6-times-platinum Traveller, Jason Isbell’s Southeastern and Brandi Carlile’s By The Way I Forgive You as well as recent albums for Mumford & Sons, Red Clay Strays, Zayn, Greta Van Fleet, Jamey Johnson, Little Big Town, Reba McEntire and music for Deliver Me From Nowhere, the forthcoming Bruce Springsteen biopic.
Mabe, whose reign lasted almost two years, was the successor to Mike Dungan, who retired in March 2023. Mabe became the first woman to lead a Nashville major label group. Country Airplay first broke the news.
“I want to thank Cindy Mabe for all her contributions to our Nashville company,” Grainge said. “She leaves UMG with our gratitude and respect.”
In addition to Stapleton, UMGN is home to such acts as Eric Church, Luke Bryan, George Strait, Carrie Underwood, Mickey Guyton and The War and Treaty. Among its more recent successes were upstart Tucker Wetmore, who reached No. 2 on Billboard’s Country Airplay chart last year with “Wind Up Missin’ You,” and Ringo Starr, whose country album is the first release from the newly-relaunched Lost Highway/UMGN and debuted at No. 27 on Top Country Albums.
After Chappell Roan‘s best new artist acceptance speech Sunday (Feb. 2) at the Grammy Awards, in which she demanded working musicians receive healthcare from their labels and the rest of the record industry “profiting millions of dollars off of artists,” Duncan Crabtree-Ireland approached the singer at the Crypto.com Arena in Los Angeles.
“I said, ‘Hi. You could help us get the word out, because we do provide health benefits — but not everybody knows that,’” says SAG-AFTRA’s national executive director and chief negotiator, who wore a navy-blue tuxedo, blue suede shoes, a black shirt and a pink bowtie to the event. “I gave her my contact information.”
Crabtree-Ireland, who attends the Grammys yearly as a leader of the union representing CBS broadcast employees, adds that all three major labels, plus Disney-owned music companies, pay into the SAG-AFTRA fund, making all signed artists eligible for its health insurance. Roan, reading from a notebook onstage, had said in her speech that after her previous label, Atlantic Records, dropped her during the pandemic, she struggled to find a job and affordable healthcare: “If my label would have prioritized artists’ health, I could have been provided care by a company I was giving everything to,” she said. “Labels, we got you, but do you got us?”
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After being dropped, Roan would have qualified for COBRA coverage, which is much more expensive, but might have helped during the leaner years before she rose to superstardom. (The SAG-AFTRA plan’s monthly premiums are $125; COBRA rates are $1,201.) Also, because Roan was younger than 26, she could have qualified to be part of her parents’ health insurance, or signed up for a plan under the Affordable Care Act (ACA).
But music-business healthcare advocates, including Crabtree-Ireland, are not dismayed that Roan neglected to mention these details. “I was jumping on my couch when Chappell was giving her acceptance speech. I was like, ‘Gosh, thank you for bringing this up.’ The conversation was started,” says Tatum Allsep, founder/CEO of the Music Health Alliance, a 12-year-old Nashville group that provides healthcare information for artists. “What’s really important to know for all the young artists who are listening is you don’t have to go without if you are making a living within our industry.”
Still, the music business is not set up to cater to artists as employees, and Allsep is skeptical of the idea that major labels must provide healthcare directly to every signed artist — beyond the SAG-AFTRA eligibility. Almost all signed musicians are “gig economy” workers without full-time employment and receive income through touring, sponsorship, streaming and other revenue sources. They tend to be disinclined to do what a typical employer would ask of an employee: report to a cubicle to work for a corporate supervisor or give up the rights to their songs and other work to an employer. “It would not be in an artist’s best interests to be an employee at a label,” Allsep says. “They would get a monthly check vs. the opportunity to earn infinitely more.”
Artists could remain independent and negotiate more healthcare as part of their contract, but, according to Allsep, these expenses are “typically recoupable” — which means artists pay these costs from recording advances and must reimburse them out of future profits.
Label contracts, adds Howard King, an attorney who has represented Metallica, Dr. Dre, Eminem and others, “could include provisions for payment of health-insurance premiums or anything else, including payments for car payments or singing lessons.” All contracts are negotiable, so artists who have leverage (like a veteran touring star or someone with multiple viral videos) can request more benefits out of labels than other artists — perhaps like Roan used to be at Atlantic — who are less established as money-making stars.
“Is that fair?” King asks. “I don’t think so, but that’s the practice.”
Healthcare resources for artists are available from several sources, in addition to the ACA, from the Recording Academy-run MusiCares to the Music Health Alliance to the American Federation of Musicians union representing orchestra musicians, studio workers and others, and the American Association of Independent Musicians, which has its own healthcare plan.
Major labels could do more in terms of boosting healthcare resources for artists, according to Kevin Erickson, director of the Washington, D.C., music-industry lobbyist group Future of Music Coalition, but not in the way Roan demanded. He argues labels must aggressively support the ACA, also known as Obamacare, against long-running defunding threats from the Trump Administration and Republicans, as well as advocating over the long term for a single-payer healthcare system, like those in Canada and parts of Europe. “[Labels] already have resources and the ability to fight for additional relief and support [for] the artist community,” he says, referring to the Recording Industry Association of America’s lobbying efforts on other issues. “We need more of that energy.”
Renata Marinaro, managing director of health services for the Entertainment Community Fund, suggests Roan, who is signed to Island Records, owned by major label Universal Music Group, was likely upset not with record-industry inaction but inadequate U.S. healthcare funding in general. “The frustration stems from the fact that there’s no universal coverage,” she says. “I don’t think you can lay that at the feet of any particular employer.”
Cindy Mabe, Universal Music Group Nashville’s chair/CEO, has left the company, Billboard has confirmed.
Mabe, whose reign lasted almost two years, was the successor to Mike Dungan, who retired in March 2023. Mabe became the first woman to lead a Nashville major label group. Country Aircheck first broke the news.
Mabe, who was 2019 Billboard’s Country Power Player executive of the year, had come out of the gate with ambitious plans that greatly broadened the scope of UMG Nashville’s remit, including an alliance with Cirque du Soleil, signing a number of acts that she introduced during a “Revival” that were left-of-center of mainstream country, launching a TV/film production company and, last month, reviving Lost Highway Records with T Bone Burnett.
The label is home to such acts as Chris Stapleton, Eric Church, Luke Bryan, George Strait, Carrie Underwood, Mickey Guyton, Little Big Town and The War and Treaty. Among its more recent successes were upstart Tucker Wetmore, who reached No. 2 on Billboard’s Country Airplay chart last year with “Wind Up Missin’ You,” and Ringo Starr, whose country album is the first release from Lost Highway/UMGN and debuted at No. 27 on Top Country Albums.
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In a January interview with Billboard about restarting Lost Highway, Mabe stressed focusing on artistry and lamented the loss of art in music as analytics have played a bigger role. “T Bone and I keep talking about the reason that we’re going to win is we’re going to put quality art back into the marketplace,” Mabe said. “It’s just missing. I’m not saying that there’s not some quality art out there, but it’s not always the goal. You don’t get artist development just by spinning the wheel and seeing how many ‘likes’ are out there. You actually have to make people feel something.”
Upon Mabe’s ascension from UMG Nashville president, she quickly made staffing changes, including the departures of the head of promotion, Royce Risser, and two heads of A&R, Brian Wright and Stephanie Wright, while bringing in Chelsea Blythe as executive vp of A&R. Blythe had been best known for her work with hip-hop artists at Def Jam, Columbia and Interscope. More recently, executive vp/COO Mike Harris left UMG Nashville in September.
UMG Nashville and UMG representatives did not immediately respond to requests for comment.
What a difference a year can make.
Warner Music Group said on Thursday that revenue from its first fiscal quarter fell 5% to $1.67 billion from a year ago, as the company suffered tough comparisons to a period last year when it still had BMG as a physical and digital distribution client and enjoyed a $30-million boon from a digital licensing renewal deal.
But the third-biggest major music company also showed that the deep staffing cuts and wind-down of certain businesses over 2024 freed up money for investment — such as the $450-million acquisition of Tempo Music‘s catalog — and growth, like Atlantic’s half-a-percentage point market share expansion.
WMG’s quarterly results — which included a nearly 40% decrease in operating income and $27 million in restructuring costs and impairment charges — depict a company deep in transformation. Chief executive Robert Kyncl is trying to increase efficiency in legacy businesses and technology, while standardizing its sprawling global network, and striking more lucrative deals with streaming platforms.
Recorded music revenue in the first fiscal quarter, which ended Dec. 31, 2024, fell 7% to $1.35 billion from last year’s quarter, as BMG’s termination of its distribution deal created a $32 million drag (evenly split between streaming and physical revenue). Last year’s quarter also included the extension of one artist’s licensing agreement worth $75 million, and the $30-million renewal of a digital partner’s license.
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WMG says if you strip those three things out, total revenue rose 3.4%.
Overall, digital revenue and streaming revenue each fell by around 2%.
Adjusted operating income before depreciation and amortization (adjusted OIBDA)–which measures the profitability of a company’s core businesses–fell 19.5% to $363 million, and adjusted OIBDA margin fell to 21.8% from 25.8% in the prior-year quarter. If you take out the negative impacts of the licensing agreement and digital partner renewal, the company said its adjusted OIBDA fell by just 0.3% and adjusted OIBDA margin decreased 0.8 percentage point.
The company said adjusted OIBDA margin was also dragged down by the 8% rise in the value of the U.S. dollar since last year’s presidential election. (Almost 60% of Warner’s income is earned in euros and other currencies that trade against the dollar, according to the company.)
“All of these impacts will stabilize over time,” Kyncl said on a call with analysts discussing the earnings. “We’re confident about the future. Our goals are clear: increase our share of the pie, meaning market share; grow the pie itself by increasing the value of music; and become more efficient, providing greater cash flow, both for re-investment and for shareholder return.”
The company’s net income was up nearly 25% to $241 million, boosted by foreign exchange hedging activity and the sale of a $29-million of an investment. Free cash flow was up 12% to $296 million.
Other highlights from the company’s earnings and conference call:
» Within Recorded Music, digital and streaming revenue both fell by 3.9% and 3.7%, which reflects a 2% decline in subscription revenue and an 8.2%-decline in ad-supported revenue. If you strip out BMG’s termination and the digital partner’s license renewal, the company says recorded music streaming revenue was up 1.5% and subscription revenue increased 5.3%, while ad-supported revenue still fell by 7.9%. Nonetheless, physical revenue rose 7.8% thanks to the strength of releases by Linkin Park, Charli XCX, Teddy Swims, Mariya Takeuchi and Benson Boone.
» Music publishing revenue rose 6.3% to $323 million from growth in digital, performance and other revenue, partially offset by lower mechanical revenue.
» Warner completed multi-year publishing and recorded music licensing deals with Amazon and Spotify over the past year, Kyncl said, though he declined to provide much detail. The deal with Spotify notably includes a new publishing agreement with a direct licensing model with Warner Chappell Music for the United States and several other countries. “There’s more work to do with others and for all of this to cycle through, but this is a really great step in the right direction.”
» Atlantic’s market share ticked half a percentage point up, a small win Kyncl attributed to the growing investments made in A&R last year. He said the investments came as a result of money left over after it made” organizational changes and investments into technology … [and] exited some non-core businesses.” Kyncl later said, “Our goal was to reinvest the majority of those savings into strategically important initiatives that will propel our business forward. This enabled us to increase our A&R investment by double-digits last year and this year.”
» Kyncl said buying Tempo is “a great example” of the company’s acquisition strategy. “As we become more efficient, we are creating a virtuous cycle that will enable greater reinvestment that delivers accelerated growth.”
Among the gold gramophones handed out at the recent 67th Grammy Awards was one for best reggae album: Bob Marley: One Love — Music Inspired by the Film (Deluxe). Now in addition to the soundtrack and the global box office success of its accompanying 2024 biopic, the celebration of the reggae pioneer’s generational legacy continues in 2025 in honor of what would have been his 80th birthday (Feb. 6).
In partnership with the Marley family, Acoustic Sounds’ Analogue Productions label is announcing its reissue of seven of the late artist’s most iconic albums. With specific release dates to be announced, the album series will launch this spring and is centered around the theme of uprising — also the title of Marley’s last studio project released during his lifetime. Reflective of his spiritual and prophetic vision, the 1980 set includes memorable tracks such as “Redemption Song,” “Could You Be Loved” and “Pimper’s Paradise.”
The other six albums comprising the series are: 1973’s Catch a Fire (“Stir It Up,” “Concrete Jungle,” “Kinky Reggae”), 1973’s Burnin (“Get Up Stand Up,” “I Shot the Sheriff,” “Burnin’ & Lootin’”), 1974’s Natty Dread (“No Woman No Cry,” “Them Belly Full [But We Hungry],” “Lively Up Yourself”), 1976’s Rastaman Vibration (“Roots Rock Reggae,” “War,” “Rat Race”), 1977’s Exodus (“Three Little Birds,” “Jamming,” “One Love”) and 1978’s Kaya (“Is This Love,” “Satisfy My Soul,” “Easy Skanking”).
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Bob Marley, ‘Kaya’
Acoustic Sounds is reissuing the albums in a number of deluxe configurations, varying by title: 33rpm UHQR (ultra high quality record), 45rpm UHQR, 2LP 45rpm, SACD (super audio CD) and reel-to-reel tape (15 IPS on 1/4-inch tape). The UHQR and 2LP 45rpm releases will be sourced from the original master tapes and mastered by Ryan Smith at Sterling Sound. Pressing will be handled by Acoustic Sounds’ Quality Record Pressing plant in Salina, Kansas.
“We’re honored to be working with the Marley Family to give these records the treatment they deserve,” said Acoustic Sounds founder Chad Kassem in a statement. “The experience of going to Jamaica, visiting Tuff Gong and meeting the people carrying Bob Marley’s legacy forward was incredible, and we believe this series is a beautiful tribute to one of music’s greatest innovators.”
More about Kassem’s time in Jamaica and the making of Uprising can be found HERE. Acoustic Sounds’ recent vinyl releases include Steely Dan’s 1970s recordings, Buena Vista Social Club’s self-titled album and Miles Davis’ Birth of the Blue.
Warner Music Group is buying a controlling stake in Tempo Music Investment, a catalog company that owns rights to songs by Wiz Khalifa, Florida Georgia Line and Brett James, in a deal sources say is worth around $450 million. WMG said it will acquire the stake from Tempo’s founder, Providence Equity Partners. Providence will remain a […]
Reggaetón star Nicky Jam has signed a new global agreement with Virgin Music Group after spending more than a decade with Sony Music Latin.
Under the new agreement, Nicky Jam’s new music will be distributed by Virgin Music Group, which will also administer and supervise Nicky Jam’s catalog for YouTube and will work some material in digital platforms in different territories.
Nicky Jam (born Nick Rivera Camerino) disclosed the terms and impetus behind the deal during an exclusive interview with Billboard in Miami.
“I went with my gut,” he tells Billboard, noting that his contract with Sony had been up and he had met with several labels. “I thought it was the best thing to do. I have too much respect for Afo [Verde, chairman of Sony Music Latin Iberia] and my Sony family. I owe a lot to them and I love them very much. It’s just that sometimes you feel you have to move. I’m very spontaneous and that’s just the way I am. I could say I’m a bohemian. I take my luggage and I go wherever I have to go.”
In this case, Nicky Jam decided to go with a company that is giving him broad latitude. He’ll get to retain ownership of his masters, and will also have wide latitude in determining when he releases his music.
“It’s a distribution contract, but under that contract I can come out with music whenever I want. They are not going to mess with my creative part and that’s beautiful,” says Jam.
Nicky Jam’s new label deal coincides with a series of major changes in both his personal and professional life. Last year, he got married (to 22-yer-old model Juana Valentina Varón], split with his longtime manager Juan Diego Medina and spoke openly about his problems with alcohol and quitting drinking.
From left: Larry Gonzalez, David Daza, Michael Cantor (VMG SVP, Business Affairs and Development), Chi Orjiakor (VMG VP, Strategy), Victor Gonzalez (VMG, President of Latin America and Iberia), Nicky Jam (Artist), and Armando Rodriguez (VMG SVP/General Manager of Latin U.S.).
Courtesy of Nicky Jam
Now, a fit and trim Nicky Jam is readying to release new music that he says reflects his current, positive state of mind. “If you listen to my last album, it was called Insomnio. It was mostly what I was going through: Drinking, partying, it was all dark,” says the singer. “This is the new Nicky Jam,” he adds.
“Nicky has been a true pioneer in Latin music,” says Victor González, president of Virgin Music Group for Latin America and the Iberian Peninsula. “Having him choose Virgin Music Group for this new chapter of his career is incredibly rewarding for me and our entire team.”
Armando Rodríguez, general manager of Virgin Music Group for the U.S. Latin market adds: “Nicky is creating incredible music, and we are excited to work alongside him—not only on his upcoming releases but also in developing a strategic approach for his entire catalog.”
In the past couple of years, Virgin has notably expanded its Latin footprint, signing major names in Mexican music like Carín León, Pepe Aguilar, Angela Aguilar and Espinoza Paz. In the urban realm, Nicky Jam is their biggest get. The Puerto Rican star brings a legacy of hits, including the “El Perdón,” the 2015 smash alongside Enrique Iglesias that spent 30 weeks at No. 1 on Billboard’s Hot Latin Songs chart. All told, Nicky has charted nine songs on the Billboard Hot 100 and 58 on Billboard’s Hot Latin Songs chart, including five Number 1s. This week, he ranked at Nol 162 in streams globally on Spotify, a testament to his lasting appeal.
“This agreement with Virgin Music Group marks a new chapter in my artistic journey. I have always believed in the importance of evolution and adaptation, and I am confident that, together with Virgin Music Group, we will achieve incredible things,” says Nicky Jam.