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The layoffs and restructuring at the Universal Music Group have begun to take place, multiple sources tell Billboard.
As part of the new structure, several top executives have been laid off, Billboard can confirm. Interscope Geffen A&M president of promotion Brenda Romano is among those to have been let go, as well as Interscope’s executive vp/head of media strategy and communications Cara Donatto and Def Jam executive vp of media and brand strategy Gabe Tesoriero.
So far, Billboard has confirmed over two dozen layoffs across UMG labels, including Interscope, Republic, Capitol, Def Jam and Island.
The layoffs began shortly after Universal wrapped up its fourth quarter earnings call Wednesday, during which chairman/CEO Lucian Grainge confirmed a long-rumored “strategic organizational redesign” that would result in “reduced headcount” and “efficiencies.” A UMG spokesperson declined to say how many staffers would be affected by the cuts, but the company told investors that it expected to realize 250 million euros ($271 million) in annual savings by 2026 through the move. Universal saw 11.11 billion euros ($12 billion) in revenue in 2023, and reaped a net profit of 1.26 billion euros ($1.37 billion).
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The layoffs had been in the offing since last October, when Grainge mentioned that UMG would need to “cut to grow” in a Q3 earnings call, then said in a January New Year’s memo to staff that despite UMG being the “most successful company in the history of the music industry,” the company would “further evolve our organizational structure to create efficiencies in other areas of the business, so we can remain nimble and responsive to opportunities as they arise, while also taking advantage of the benefits of our scale.” A spokesperson then confirmed cuts were coming in a statement Jan. 12, after Bloomberg reported the company planned to cut “hundreds” of jobs in the first quarter of the year.
Layoffs continued Thursday (Feb. 29), and some staffers speculated to Billboard that they may continue into Friday. There is no word on how many people were affected, nor any specifics in what departments they were, though in addition to promotions, publicity and A&R, at least some people in logistics, synch, international and commercial marketing were among the layoffs. Staff members from Republic, Interscope, Capitol, Island and Def Jam were among those laid off.
On Feb. 1, Grainge announced in an internal memo that Universal would be restructuring its label operations, adopting a loose East Coast-West Coast operation wherein Republic Records co-founder/CEO Monte Lipman would begin to oversee Republic, Def Jam, Island and Mercury, and Interscope Geffen A&M chairman/CEO John Janick would take responsibility for Interscope, Geffen, Capitol, Motown, Priority, Verve and Blue Note. Days later, Capitol Music Group chair/CEO Michelle Jubelirer announced she was stepping down from her post and was replaced by Geffen president Tom March as chairman/CEO of Capitol and Universal Music Publishing Group executive Lillia Parsa joining as co-president alongside Arjun Pulijal.
As part of the new alignment, and with Donatto and Tesoriero out at Interscope and Def Jam, respectively, it appears that Capitol Music Group executive vp/head of media strategy and relations Ambrosia Healy will now run corporate communications for the West Coast labels, and Republic Records executive vp of media and artist relations Joe Carozza will oversee corporate communications for the East Coast labels.
Reps for UMG did not respond to multiple requests for comment. Additionally, reps for several individual labels either declined to comment or could not be reached for comment.
This story is developing.
Republic Records‘ CEO and COO Monte and Avery Lipman accepted the award for the label of the year at Billboard‘s Power 100 event last night (Jan. 31) in Los Angeles. The award was presented by Noah Kahan, who recalled being signed to the label nine years ago when he was, he recalled, “a kid with […]
Singer 4Batz, whose track “act ii: date @ 8” erupted on social media and streaming services during Christmas week, has sparked a bidding war among several major labels, sources familiar with the negotiations tell Billboard.
Four years ago, it was routine for previously unknown artists with viral singles to score big record deals in a matter of weeks. But that path slowed to a trickle in 2023, and some label executives started to worry about a stagnant climate for new artists.
That helps explain why many A&R executives are now eager to sign 4Batz. One executive calls the singer’s rapid ascent “the most exciting thing to happen in the last six months” in the music industry. Multiple major labels, including Republic Records, Atlantic Records and Warner Records, are in conversations with 4Batz’s team about a potential deal.
While he has released just two songs to date, they are already earning more than 9 million streams a week in the United States between them, according to Luminate. “act ii: date @ 8” leads the way, climbing to No. 76 on the latest Billboard Hot 100 chart. Due to this upward momentum, two sources familiar with the label negotiations say they are all but certain to end in a robust seven-figure deal for 4Batz. When another R&B singer, Muni Long, enjoyed a viral breakout with “Hrs and Hrs” late in 2022, her subsequent record deal came with an advance of around $5 million, according to a source with knowledge of the negotiations.
Legal counsel for 4Batz declined to comment.
In the heady early days of TikTok, it was common for half a dozen major labels to compete over a new act with a hot single. From 2019 through at least the end of 2021, this led to big deals for artists like Lil Tecca, Arizona Zervas, Ant Saunders and more. During that period, “it felt like every single day another artist signed a deal that was a gazillion dollars,” one music attorney told Billboard last year.
But as 2022 bled into 2023, fewer unsigned acts surged into view behind singles that streamed like crazy. Executives worried that virality on short-form video platforms no longer sparked listening the way it once did; sometimes what happened on TikTok stayed on TikTok.
At the same time, many label executives became disillusioned with the viral chase. Due to the intense competition around these deals, they invariably ended up being costly. (Though two of the acts who were able to translate viral energy into noteworthy Hot 100 success in 2023, the rapper Superstar Pride and the singer Oliver Anthony, both ended up remaining independent rather than taking a fat check from a major label.) The high cost of the deal put a lot of pressure on young artists to replicate their initial success quickly — to prove they were worthy of a hefty investment in a bottom-line-focused business. Many of the signings were unable to make the leap from popular song to popular artist.
“We’ve all been burned to a certain degree,” Tab Nkhereanye, a senior vp of A&R at BMG, said last year.
As a result, labels have been more circumspect when it comes to signing artists with viral singles in the last 18 months. They’ve also been trying to connect with more acts earlier in their careers via low-cost distribution deals; that way, they have a pre-existing contractual relationship if one of those signings starts to take off. (“act ii: date @ 8” was released through Vydia, a music tech company which is now part of the Larry Jackson-helmed gamma; this marks another win for Vydia, which also brought in Sexyy Red, one of last year’s few genuine breakouts.)
But 4Batz has shown staying power in recent weeks, spending all of January to date near the top of Spotify’s Global Viral 50. “act ii: date @ 8” is hypnotic and loop-able, with feathery come-ons and a slinky bass vamp; it already cracked the top 10 on the Hot R&B Songs chart, leapfrogging established artists like Brent Faiyaz (a clear influence on 4Batz).
R&B is on the upswing at the moment, which is another factor working in 4Batz’s favor. SZA and Victoria Monet dominated the latest Grammy nominations, with Janelle Monae and Coco Jones also scoring nods in the Big Four categories. In R&B, “it’s highly unusual for an artist to come onto the scene with the numbers and interest from labels” that 4Batz has, an executive says. “Normally an artist has to drop more music to get this level of attention.”
At the midyear point of 2023, Republic Records had put up a 12.46% current market share — defined as albums released in the past 18 months — which was a remarkable figure, and more than 4.5% higher than the second-largest label. Now, as 2023 has come to a close, Republic finished the year even higher, reaching an eye-popping 13.47% current market share for the year. That’s the highest full-year mark since at least 2015, when streaming began to lift the industry out of its post-CD doldrums, and more than 3% higher than its current share in 2022, which was a then-industry-leading 10.38%.
Republic’s high-water mark stems from a combination of both enduring releases dating back to the end of 2022 and massive albums from two of the biggest stars on the planet this year: Taylor Swift and Morgan Wallen. For full-year 2023, Swift and Wallen (signed through Republic’s deal with Big Loud, which on its own commanded a 2.33% current share) combined for seven of the top 10 albums in U.S. consumption units, according to Luminate, including four of the top five. With Metro Boomin’s Heroes & Villains ranking at No. 10, Republic had an astonishing eight of the 10 biggest albums in the United States in 2023. And Republic’s fourth quarter was even more dominant: In the final three months of the year, the label’s current market share ballooned to 16.79%, buoyed by new albums from Drake, Nicki Minaj and Stray Kids. That’s higher than the current share of the entire Warner Music Group across that three-month period, which stood at 15.50%.
Following Republic — which includes Island, Big Loud, Mercury Records, Cash Money and indie distributor Imperial in its market share — Interscope Geffen A&M (IGA) came in second in current share, at 8.80%, up from the 8.72% it tallied in 2022. The label — which also encompasses Verve Label Group — scored another big success with Olivia Rodrigo’s sophomore album GUTS. It also saw critical acclaim for Verve’s Jon Batiste, once again a Grammy darling, and continued its extremely strong recent track record of breaking new artists, with Gracie Abrams up for best new artist at this year’s Grammys — a category the label has won in three of the past four years.
The success of Republic and IGA helped parent company Universal Music Group roar back to a 35.84% current market share for 2023, jumping two points year over year from 2022’s 33.57%. In second, Sony Music Entertainment also grew year over year, up to 27.08% from 2022’s 26.99%, while Warner Music Group dipped to 16.95%, down from last year’s 18.30%. The indies, by distribution ownership, accounted for 20.13% current market share, down from 21.14% in 2022.
In third and fourth place in current share among frontline labels are a pair of Warner Music Group labels, Atlantic Records (6.83%, down from 9.15% in 2022) and Warner Records (5.96%, up from 4.86% in 2022). Atlantic (encompassing 300 Elektra Entertainment), which dipped from second to third place year over year, scored a big win with the Barbie soundtrack as well as No. 1s from Lil Uzi Vert and Jack Harlow, despite a two-plus point percentage drop in current share. Meanwhile, Warner Records — which includes Warner Latin, catalog label Rhino and parts of Warner Nashville in its share — surged from sixth place last year to fourth place this year with a more than 1% boost. Zach Bryan’s self-titled album and No. 1 Hot 100 single “I Remember Everything” led the way, with Bryan landing at No. 4 on Billboard’s year-end Artist 100 ranking and his “Something in the Orange” being the third-most-streamed song of 2023.
In fifth, Capitol Music Group also saw a big year-over-year boost in current share, from 4.97% in 2022 to 5.90% in 2023. The label — which remains in fifth place despite the jump in share and encompasses Motown/Quality Control, Blue Note, Astralwerks, Capitol Christian and indie distributor Virgin Music — enjoyed the breakout success of Ice Spice (signed in conjunction with 10K Projects) in the past year as well as a top 10 Hot 100 single from Toosii.
Sixth place in current share belongs to RCA Records at 4.70%, a one-spot jump over last year when it came in with 4.65%. The label, whose market share does not include any other labels or distributors, benefited from the enduring success of SZA’s multi-Grammy nominated S.O.S. album, the third-biggest project of 2023, as well as huge hits from Doja Cat, Tate McCrae and Ateez, the latter of which landed a No. 1 album in the fourth quarter. Dropping into seventh is Columbia at 4.67% of current share, down from fourth in 2022 when it had a 6.67% share. Columbia, which includes some labels from indie distributor RED in its market share, still racked up a big hit with Miley Cyrus’ “Flowers,” which spent eight weeks at No. 1 on the Hot 100 this year on its way to becoming the fourth-most-streamed song of 2023 and the most-heard song on radio in the United States, according to Luminate.
In eighth, Sony Nashville jumped a half percentage point year over year to 2.32% from 1.89% last year, with a big Luke Combs album helping it rise one spot from last year’s ranking. Meanwhile, Sony’s Epic Records slipped to ninth year over year, despite boosting its current share from 2.23% in 2022 to 2.30% in 2023 and scoring a pair of big projects from Travis Scott — whose Utopia album was the seventh-biggest of 2023, according to Luminate — and Tyla with “Water,” which roared into the Hot 100’s top 10 late in the year. Rounding out the top 10 is yet another Sony label, Sony Latin, which also had a huge year, upping its current share from 1.24% in 2022 to an impressive 1.95% in 2023.
In overall market share, Republic’s dominance with newer releases lifted it to the No. 1 slot over IGA, 9.83% to 9.65%, despite the latter’s industry-leading 9.93% share of the catalog market. Atlantic, at 8.09%, sits comfortably in third, while Warner Records and Capitol Music Group are neck-and-neck in fourth and fifth, with 6.68% and 6.66% overall share, respectively, with their catalog shares tied at 6.92%. Columbia’s 6.65% catalog share is enough to lift it into sixth in overall share, ahead of RCA, with the two separated at 6.14% and 5.16%, respectively, in overall share. Epic (2.61%), Sony Nashville (2.05%) and Def Jam (1.84%) round out the overall top 10 rankings.
Among the label groups, the weight of catalog once again lifts all ships, with UMG jumping to an industry-leading 38.46% overall market share, up from 37.54% in 2022. Sony also saw an increase year over year, ending 2023 at 27.18%, up from 2022’s 26.87%, while Warner dipped slightly year over year, to 18.62% in overall share in 2023 compared to 19.05% in 2022. The indies by distribution ownership also fell, to 15.74% from 16.54% in 2022.
Republic Records has a big week in the Billboard 200 albums chart’s top 10, as the label is home to a whopping eight of the top 10 titles on the list dated Jan. 13. Since Luminate’s electronically monitored music data began powering the chart on May 25, 1991, no label had previously held eight of […]
Republic Records has a historic week on the Billboard 200 albums chart (dated Dec. 9), as the label holds the top six titles. It is the first time a label has claimed the entire top six, or even top five, since the chart combined its previously separate mono and stereo album charts into one all-encompassing chart in August 1963.
On the Dec. 9 chart, the Nos. 1-6 titles are: Taylor Swift’s 1989 (Taylor’s Version) (rebounding 2-1 for its third non-consecutive week in the lead); Drake’s For All the Dogs (released via OVO Sound/Republic, falling to No. 2); Swift’s Midnights (6-3); Morgan Wallen’s One Thing at a Time (Big Loud/Mercury/Republic, 5-4); and Swift’s Folklore (9-5) and Lover (8-6). (All of the top six albums have spent time at No. 1.)
For good measure, Republic has a seventh title in the current top 10, as Swift’s chart-topping Speak Now (Taylor’s Version) jumps 17-10.
Many albums on the chart, including Swift’s, see gains encouraged by retail promotions for Black Friday and holiday shopping.
Earlier in the week, it was reported that Swift, with five titles in the top 10, became the first living artist with at least five of the top 10 titles in a single week since August 1963.
Republic’s triumph with the top six adds luster to an already big year for the company, as it finished 2023 at No. 1 on Billboard’s three leading year-end label rankings: Top Labels, Billboard 200 Labels and Billboard Hot 100 Labels. It was the third year in a row Republic led all three year-end rankings.
The Billboard 200 chart ranks the most popular albums of the week in the U.S. based on multi-metric consumption as measured in equivalent album units, compiled by Luminate. Units comprise album sales, track equivalent albums (TEA) and streaming equivalent albums (SEA). Each unit equals one album sale, or 10 individual tracks sold from an album, or 3,750 ad-supported or 1,250 paid/subscription on-demand official audio and video streams generated by songs from an album. For all chart news, follow @billboard and @billboardcharts on both X, formerly known as Twitter, and Instagram.
Wendy Goldstein, co-president of Republic Records, will receive the inaugural Seymour Stein – Global A&R Award on March 20, 2024, during a gala dinner on the final night of the four-day MUSEXPO conference. The conference, a leading showcase and networking event for the global music industry, will be held at Castaway, a restaurant and event space in Burbank, Calif., from March 17–20, 2024.
The Seymour Stein – Global A&R Award will celebrate excellence in A&R worldwide, and the spirit of discovery in music. This year’s inaugural award will be presented in association with Richard Gottherer, Stein’s longtime friend and co-founder of Sire Records, and Stein’s daughter Mandy Stein. Seymour Stein died in April at age 80.
Sat Bisla, president & founder of A&R Worldwide and MUSEXPO, stated, “Wendy Goldstein’s career is a testament to her unwavering commitment to the art of A&R and her exceptional talent for identifying and developing artists who shape the music industry and impact global pop culture. Wendy’s unique abilities, instincts and musical foresight make her truly remarkable and impactful as an A&R afficionado. She is the embodiment of the spirit of Seymour Stein’s legacy.”
Goldstein, who will be celebrating 30 years in A&R next year, has had a role in the careers of such artists as The Weeknd, Ariana Grande, Jonas Brothers, John Legend, Nicki Minaj and Anitta. Goldstein joined Republic Records in 2009, initially as an A&R consultant, later assuming the role of senior vice president of A&R in 2011. In 2014, she was appointed executive vice president and head of A&R and in 2021 she was named co-president alongside Jim Roppo.
Her journey in the music business began as an assistant in the A&R department of Epic Records, followed by stints at Geffen Records and Priority Records/Capitol where she orchestrated a label deal with Disturbing The Peace.
Stein’s signings — including Madonna, Talking Heads, The Ramones, The Pretenders, Depeche Mode and The Cure — have left an indelible mark on the music landscape. His dedication to the art of A&R made him a legendary figure in the music industry. This award seeks to celebrate and perpetuate his legacy.
Stein received the Ahmet Ertegun Award at the Rock and Roll Hall of Fame in 2005. In 2012, he received Billboard’s Icon Award at MIDEM. In 2018, he received a trustees award from the Recording Academy (alongside composer John Williams and the late concert promoter Bill Graham).
For more information about MUSEXPO, visit www.musexpo.net.
This year has been defined by consistency at the top of the charts, and one record label has led in current market share in each of the first three quarters: Republic Records, which has 12.28% of the market through Sept. 28, according to Luminate. That’s a negligible drop from last quarter’s 12.46% and more than four percentage points higher than the 8.77% share the label had for the same period last year.
Republic’s market share — much like the year overall — has been headlined by the massive Morgan Wallen album One Thing at a Time, which has racked up more than 4.5 million equivalent album units since its March debut, and Taylor Swift’s prolific release schedule, which not only includes her latest collection of new tracks, Midnights, but also the release of Speak Now (Taylor’s Version). Both are among the top 10 albums of the year so far. (Republic’s share also includes Island, Big Loud, Mercury, Cash Money and indie distributor Imperial.)
Wallen’s dominance is such that his label, Big Loud, would rank eighth among all labels on its own, with a 2.69% current market share if it were broken out from Republic, with both One Thing at a Time and his last release, Dangerous: The Double Album, both counting toward current share. (Current is defined as albums released within the past 18 months or that have remained in the top half of the Billboard 200.)
Coming in at a comfortable second place, with big third-quarter releases from Olivia Rodrigo and NewJeans, was Interscope Geffen A&M, which hit a high mark for the year so far with an 8.55% current share, a half-point increase over its midyear mark. That’s down from the 9.23% current share IGA posted at the third-quarter mark of 2022, but is a strong showing in a year in which Republic has vacuumed up so much market share. (IGA’s share also includes Verve Label Group.)
In third place, Atlantic — which encompasses 300 Elektra Entertainment — has also moved to a high mark for the year, with a 7.39% share, up from 7.34% at midyear. The music group’s performance was boosted by releases by Gunna, Lil Uzi Vert and, most significantly, the Barbie soundtrack, which is among the top five albums of the third quarter with over 650,000 equivalent album units.
However, factoring in back catalog to look at overall market share shakes up the top two. Interscope takes the top spot with 9.57%, besting Republic’s 9.49% by a shade over 500,000 units through the first three quarters, with Atlantic in third at 8.31%. That’s due to the deeper catalog of IGA and Atlantic: They are Nos. 1 and 2 in catalog-only share, with 9.91% and 8.62%, respectively. Republic finished third at 8.54%. Coming into the final quarter of the year, that’s a race to watch.
Capitol, which includes Motown/Quality Control, Blue Note, Astralwerks, Capitol Christian and indie distributor Virgin Music, remained steady in fourth place at 6.01% (from 6.0% at midyear) through three quarters. (Although HYBE acquired Quality Control earlier this year, Universal Music Group [UMG] continued to distribute the label.)
In fifth, Warner Records has made large gains throughout the year, largely due to the successes within Warner Nashville. (Its market share also includes catalog label Rhino, as well as Warner Music Latina.) Zach Bryan’s self-titled album has been a standout success in the quarter, while Bailey Zimmerman’s Religiously. The Album continues to perform well. Notably, both Capitol and Warner made big leaps in current market share year over year: Capitol jumped from sixth place to fourth, growing from 4.50% in 2022 to 6.01% in 2023; Warner grew from 4.77% in 2022 to 5.89% in 2023.
Slipping down the rankings year over year was Columbia, which dropped in current share from fourth through three quarters in 2022 (6.93%) to sixth in 2023 (4.93%). Columbia scored big this year with Miley Cyrus’ Endless Summer Vacation, though 2022’s slate with releases from Harry Styles, Beyoncé and Adele represents a tough act to follow. RCA, in seventh, remains on a hot streak led by the huge success of SZA’s SOS — still the No. 2 album of the year — with the label coming in at a 4.64% share, up from 4.47% this time last year.
Epic has roared back after a relatively quiet 2023 on the strength of Travis Scott’s mammoth Utopia, which boosted the label from 1.82% in current share at midyear to 2.39% at the three-quarters mark — its highest quarterly showing for the year. Sony Nashville (eighth, 2.50%) and Sony Latin (10th, 1.96%) round out the top 10, with each growing more than half a percentage point year over year.
Among the label groups, both UMG (up from 32.54% to 34.61%) and Sony Music Entertainment (up from 27.09% to 27.50%) made big year-over-year strides, while Warner Music Group (down from 18.64% to 17.46%) and, collectively, independent labels (down from 21.73% to 20.43%) lost share compared with the same period in 2022.
Republic Records jumped out to a huge lead early on in the market share rankings this year among current releases (those released within the past 18 months), and maintained a 12.46% current share across the first half of the year — more than four points higher than the next-closest label, Interscope Geffen A&M (8.08%). But […]
In 2023 so far, what’s happened in the last three months of the year largely mirrors the first when it comes to U.S. record label market share: the top two albums of the year — Morgan Wallen’s One Thing At a Time (Big Loud/Mercury/Republic) and SZA’s S.O.S. (TDE/RCA) — are still dominating the top two slots among consumption albums through June 29, according to Luminate. But while that may come as little surprise to industry chart-watchers, the rest of the top five points to a relatively surprising level of domination by one record label in particular: Republic Records.
In the first quarter of the year, Republic — which encompasses Island, Big Loud, Mercury, Cash Money and indie distributor Imperial — put up a current market share (defined as albums released within the past 18 months) of 12.45%, nearly five percentage points higher than second-placed Interscope Geffen A&M’s 7.75% (Interscope also encompasses Verve Label Group). At the end of the first half of the year, Republic’s current share stands at 12.46% — a remarkable level of consistency that shows the staying power of Republic’s current big releases, even as IGA has tightened the gap a bit, posting an 8.08% mark of its own to remain in second place.
Republic’s 12.46% current share at the midway point is also a significant leap from where it stood at the halfway mark in 2022, when it posted a current share of 8.92%, good for third place behind leaders Atlantic Records (9.92%) and second-placed Interscope (9.36%). Republic releases — chiefly Wallen’s album, but also Taylor Swift’s Midnights (one week) and Stray Kids’ 5 Star (one week) — spent all 13 weeks of the second quarter at No. 1 on the Billboard 200, part of a run of 17 straight weeks that only ended with Lil Uzi Vert’s new album Pink Tape.
Both Republic’s consistency and Interscope’s growth helped propel parent company Universal Music Group to a 34.48% current market share at the midyear mark, an improvement over both its first quarter current share (33.59%) and its current share at the midyear mark of 2022 (33.18%). Sony Music, in second place at 27.54%, dipped slightly from its huge Q1 current share of 28.46%, though it is still up significantly from the midyear mark in 2022, when it posted a 26.01% current share. And the Warner Music Group, in third among the major corporations, grew to 17.26% at the halfway mark of the year in current share, up from Q1’s 16.81% and 2022’s 15.33%. The collection of indie labels came in at 20.72% in current share at midyear, down from 21.15% in Q1.
Atlantic, in third among current share, grew to 7.34% at the midyear mark from 7.22% in Q1, though still down from the leading 9.92% it had midway through 2022. (Atlantic includes the combined 300 Elektra Entertainment Group.) But Capitol Music Group — which includes Motown/Quality Control, Blue Note, Astralwerks, Capitol Christian and indie distributor Virgin Music — surged from sixth place in Q1 2023 (5.56%) to fourth at the midyear market (6.00%), up significantly from the 4.31% it posted at the midway mark of 2022. Fifth-placed Warner Records (encompassing catalog label Rhino, Warner Latin and the bulk of Warner Nashville) also jumped two slots, from seventh in Q1 to fifth at midyear, to put up a 5.62% current share, up from 5.23% in Q1 and a 4.63% mark halfway through 2022.
Those two jumps from Capitol and Warner mean that Columbia (which includes some labels from indie distributor RED) and RCA Records slide down to sixth and seventh among current share, respectively. Columbia dipped from 5.85% in Q1 to 5.16% at the midyear mark in 2023 — though down significantly from the 6.65% it had at midyear 2022 — while RCA dropped from 5.76% in Q1 to 4.98% at the halfway point this year, a mark which is improved from the 4.31% it posted midway through 2022.
Rounding out the top 10 among current share is a trio of Sony labels, including two that made large strides: Sony Nashville, in eighth, at 2.55%, which grew from 2.30% in the first quarter and 1.72% midway through 2022; and Sony Latin in ninth, at 1.95%, up from 1.92% in Q1 and 1.22% halfway through 2022. Epic Records, at 1.82%, came in 10th in current share, dropping from 2.06% in Q1 and 2.24% at this time last year.
But current market share — while a strong indicator of recent performance for any label — does not tell the whole story, particularly at a time when Luminate reports that catalog (albums older than 18 months old, or the bulk of many major labels’ repertoire) share has increased again in 2023 so far, to 72.8% of all consumption from 72.4% in 2022, with a corresponding drop for current from 27.6% to 27.2%. And when taking into account all consumption, Interscope actually leads the U.S. industry in overall market share, posting a 9.48% mark at the midway point of 2023, up from 9.44% in Q1 and slightly down from its leading 9.80% mark halfway through 2022. That nudges Republic into second, ever so slightly, at 9.34% in overall share, a number that is also up from its Q1 mark (9.16%) and a significant increase from midyear 2022, when it posted a 7.96% share and came in third.
Outside those top two labels, the next handful of slots in the top 10 remain in the same order as their current share rankings, with Atlantic (8.31%) equalling its Q1 mark despite falling from the 9.30% it had in 2022; and Capitol also remaining static over Q1, posting a 6.70% (from 6.68% in Q1 and 6.06% in 2022). Warner (6.55%), in fifth, swapped positions with Columbia (6.23%) from their respective Q1 showings, while RCA (5.27%), in seventh, dropped from its 5.50% in Q1 but improved on its 4.92% mark from midway last year. Epic (2.54%), Sony Nashville (2.13%) and Def Jam (1.88%) rounded out the top 10 in overall market share.
Among the major label groups, UMG grew from 37.25% in overall share at the midpoint of last year to 37.98% this year, while Sony grew a full percentage point, jumping to 27.34% from last year’s mark of 26.34%. Warner Music Group, meanwhile, jumped significantly from 16.26% midway through 2022 to 18.75% halfway through this year, largely at the expense of the Indies, which fell from 20.15% to 15.93% in overall share this year.