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Harry Styles, Mariah Carey and big streaming gains helped Sony Music Entertainment finish 2022 with a bang. Styles’ album Harry’s House and Carey’s typically strong holiday performance drove SME’s revenues up 22.9% to 363.7 billion yen ($2.57 billion at quarter’s average exchange rate) in its fiscal third quarter ended Dec. 31, 2022.
Styles’ 2022 release Harry’s House and 2019 album Fine Lines were among SME’s top performing titles of the quarter. Carey’s “All I Want for Christmas is You” topped the U.S. Hot 100 chart for four weeks (chart dates of Dec. 17, Dec. 24, Dec. 31 and Jan. 7). The company also pointed to strong sales and streams by Steve Lacy’s Gemini Rights, SZA’s SOS, Future’s I Never Liked You, Chris Brown’s Indigo, Beyonce’s Renaissance and Bruce Springsteen’s Only the Strong Survive.
Quarterly operating income improved 14.3% to 63 billion yen ($445 million). Adjusted earnings before interest, taxes, depreciation and amortization were 80 billion yen ($565 million).
The recorded music division’s revenues improved 30.1% to 239 billion yen ($1.69 billion). Streaming revenue grew 33.2% to 159.1 billion yen ($1.12 billion) and accounted for 66.6% of recorded music revenue, up from 65% in the prior-year period. Download revenue, up 14.3%, accounted for just 4.7% of digital revenues compared to 5.5% a year earlier. Physical sales declined 6% to 31.1 billion yen ($219.1 million) and accounted for 13% of total recorded music revenue, down from 18%.
Publishing revenues increased 42.9% to 74.2 billion yen ($523.4 million) in the quarter. Within publishing, streaming revenue improved 59.8% to 41.6 billion yen ($293.3 million). Streaming’s share of publishing revenue grew to 56% from 50.1% in the prior-year period. Other publishing income rose 25.9% to 32.6 billion yen ($230.1 million).
Excluding foreign exchange and the visual media and platform segment, SME’s recorded music and publishing divisions grew 10% in the quarter. That is a smaller improvement because changes in foreign exchange rates helped SME’s yen-denominated results. From the end of 2021 to 2022, the value of the yen declined against the three main foreign currencies: -10% against the U.S. dollar, -6.9% against the euro and -1.8% against the pound.
The visual media and platform segment was a drag on earnings due to lower anime sales, however. The segment’s revenue fell 16.3% to 47.4 billion yen ($334.7 million).
Looking ahead, the company maintained its forecast for full-year revenue at 1.37 billion yen (approximately $9.7 billion) at operating income at 265 billion yen (approximately $1.87 billion).
With 2022 now officially in the books, the U.S. market share report is in: with Bad Bunny, Lil Nas X and Harry Styles leading the way, it was a banner year for Sony Music, as it gained in both overall market share and, more drastically, in current market share on the leading Universal Music Group, narrowing the gap among releases less than 18 months old to 6.58% in 2022 — a chasm that stood at 13.7% at the end of 2021.
But there was good news for UMG, too, as Republic Records rode a red-hot fourth quarter — led by Taylor Swift’s Midnights, the No. 2 album of all of 2022 despite only being released in October — to rank No. 1 among labels in current market share for the entirety of 2022, coming in at 10.38%. That makes it the only label to top double digits in the final ranking of the year. And UMG maintained a double-digit lead in overall market share over second-place Sony, leading 37.54% to 26.87% despite the latter’s gains throughout the year. Interscope Geffen A&M finished the year as the No. 1 label in overall market share once again, coming in at 9.63%, though it was down from the 10.08% share it held at the end of 2021.
Sony’s overall market share grew 0.76% year over year — up to 26.87% in 2022 from 26.11% in 2021 — marking a big stride forward for the music group. That gain was largely at the expense of Universal Music Group, which dropped 0.66% year over year, from 38.20% in 2021 to 37.54% at the end of 2022. Meanwhile, Warner Music Group’s market share grew from 16.06% in 2021 to 19.05% in 2022, though that is not an apples-to-apples comparison; this year, Warner-owned distributor ADA — which distributes dozens of independent labels — was factored into WMG’s market share, adding 2.96% to its total and accounting for almost all of Warner’s jump. (The move more accurately aligns Warner’s distributed market share with the other majors, which also include their distribution wings in their totals.) That switch also explains the commensurate dip for the indie sector, which fell from 19.63% in 2021 to 16.54% in 2022.
In current market share, Universal fell more than 4%, from 37.89% in 2021 to 33.57% in 2022, with all three other major players picking up that slack, led by Sony, which ballooned significantly almost 3 percentage points to 26.99% in 2022 — up from 24.19% in 2021. Warner — even taking into account the 3.32% in current share added by ADA — was also up, from 14.42% in 2021 to 18.30% in 2022 (an increase of 0.56% beyond the ADA bump), while the indie sector went from 23.50% last year to 21.14% in 2022, which is up 0.96% year over year when taking into account the loss of the ADA labels. Universal did, however, raise its catalog percentage from 38.33% in 2021 to 38.94% in 2022, while the other three all fell slightly.
Following Interscope in overall market share, Atlantic remained in second, at 8.89%, although it, too, was down slightly from 2021, when it posted a 9.17% overall share of the market. Republic ended the year in third — the only label in the top five to grow its overall market share year over year — with an 8.44% mark, up from 8.28% through the end of 2021, while Columbia (6.98%) and Capitol Music Group (6.40%) rounded out the top five. (A note on these labels: Interscope’s market share includes Verve [0.85%]; Atlantic’s includes the now-combined 300 Elektra Entertainment Group [2.35%], which would have been good enough for ninth place on its own; Republic’s includes Island [1.51%], Cash Money [0.71%], Big Loud, Imperial and Mercury; Columbia includes some indie labels from distributor RED; and Capitol includes Virgin [1.78%], Motown/Quality Control [1.05%], Capitol Christian Music Group [0.61%], Astralwerks and Blue Note.)
In sixth, Warner Records — which includes Rhino, Warner Latin and a chunk of Warner Nashville in its market share — grew year over year, from 6.16% in 2021 to 6.35% in 2022, having steadily increased its share each quarter of the year. RCA, whose market share stands alone, did the same; the label came in seventh, growing in each quarter to a finish of 5.12% — up from 4.89% in 2021 — wrapping the year strongly with the four-week No. 1 run of SZA’s S.O.S. In eighth, Epic Records also picked up market share, rising to 2.63% in 2022 from a 2.38% share in 2021. Def Jam, in ninth, faltered to 2.07%, down from 2.25% in 2021; while Sony Nashville jumped into 10th, leapfrogging UMG Nashville by growing its market share from 1.99% to 2.04% year over year.
UMG Nashville dropped to 11th, slipping from 2.04% in 2021 to 1.85% in 2022, while Concord jumped from 13th (1.68%) in 2021 to 12th (1.73%) in 2022. Disney — with its early-year Encanto boost — was up to 1.60% in 2022 from 1.40% the year before, good for 13th, while Universal Latin (1.47%) and Sony Latin (1.24%) rounded out the top 15, both up from the year prior as well.
Republic had a big fourth quarter (9.57%), with four major releases — Stray Kids’ Maxident, Swift’s Midnights, Drake and 21 Savage’s Her Loss and Metro Boomin’s Heroes & Villains, all of which debuted at No. 1 on the Billboard 200 — collectively topping the Billboard 200 for eight weeks. That helped boost its current market share from 8.77% through the first three quarters of the year to 10.38% by year’s end, with that late push taking it to No. 1 among all labels in terms of current market share in 2022.
Atlantic, in second place in current share, essentially maintained its level from last year, coming in at 9.15% (from 9.16% in 2021), though it moved up one spot from third place; while Interscope dropped sharply, from a stellar 11.05% in 2021 to 8.72% in 2022, falling from first to third. Columbia and Capitol, in fourth and fifth, respectively, both fell in share, the former from 6.83% to 6.67% and the latter from 5.64% to 4.97%; while Warner and RCA, in sixth and seventh, both grew in share, the former from 4.48% to 4.86% and the latter from 4.37% to 4.65%.
Outside the top seven labels, there was a bigger shakeup in current market share. Epic Records moved up to eighth place, gaining from a 2.04% current share in 2021 to 2.23% in 2022, while Sony Nashville jumped up to ninth, growing to 1.89% from 1.59% in 2021. Alamo made the biggest leap, all the way up to 10th in current share in 2021 at 1.56% in its first full year as a standalone Sony Music label; in 2021, its share was split between UMG and Sony as it was sold midway through the year, making an apples-to-apples comparison difficult. BMG, in 11th, held steady at 1.42%, while Disney, perhaps unsurprisingly, surged into 12th, up to 1.36% year over year from 0.52% in 2021. Def Jam, however, saw its current share sink from 2.21% in 2021 to 1.27% in 2022, finishing 13th, while Sony Latin (1.24%) and UMG Nashville (1.23%) rounded out the top 15.
As is generally the case, catalog market share tracked similarly to overall market share, as older titles generally perform consistently as a percentage of the market year over year. But both UMG and the indie sector grew year over year, while Sony and Warner, the latter accounting for the ADA switch, were both down slightly as well.
On Monday (Dec. 19), Sony Music Entertainment (SME) shared a recap with the company’s artists and earnings participants on the progress of its Artists Forward initiative, which encompasses SME’s legacy unrecouped balances initiative, healthcare assistance, advances on projected earnings and more.
Notably, the recap offers never-before-reported stats on Sony Music’s artist portal and real-time insights platforms. Introduced in 2019, the features offer music creators and their teams “best-in-class” payment capabilities and real-time updates on consumption of their music and audience engagement data. According to the company, artists and other earnings participants have withdrawn nearly $50 million combined from both the cash-out feature, which allows users to cash out payable monthly account balances, and the real-time advances feature, which allows users to receive advances on qualifying projected earnings.
Newly announced as part of the recap is Sony Music’s recent introduction of healthcare advocacy services for on-roster and legacy artists in the United States, designed to make it easier for artists to navigate the process of obtaining and utilizing healthcare coverage, finding a doctor, managing healthcare bills and more. Since launching in the fall, the program has helped U.S.-based artists realize hundreds of thousands of dollars in healthcare cost savings, according to the company.
The label first introduced the Artists Forward initiative in June 2021 with its legacy unrecouped balance program, which waives the unrecouped balances of artists who signed to Sony Music prior to 2000 and have not received advances since that same year. The following month, the program was expanded to include songwriters, and this past May, Sony Music began offering eligibility on a rolling 20-year basis — meaning artists not initially covered by the program will become eligible once they hit the 20-year mark of signing with the label. According to the Dec. 19 recap, eligibility notifications recently began going out to the first group of qualifying artists and participants under the new criteria (those who signed with the label prior to 2001) in select markets around the world.
In September 2021, the company further expanded Artists Forward by launching “Artist Assistance,” an initiative covering mental health services for its artist roster. According to the Dec. 19 recap, over 100 artists globally have since been provided with information and support related to the program, with dozens across more than 12 countries having utilized these services to establish recurring sessions with a licensed therapist or receive in-the-moment support to deal with “acute issues.”
You can read the full recap here.
Nearly a year after Ultra Records founder Patrick Moxey sold his 50% share of the lauded dance imprint to Sony Music, the executive is being sued by the major label over his continued use of the “Ultra” trademark.
When Moxey sold his remaining stake in Ultra Records this past January, it marked a turning point in dance music history — giving Sony full control of the label it had previously held a 50% stake in. While Moxey parted ways with the imprint he founded in 1995, he held on to his other company, Ultra International Music Publishing, LLC. But in a complaint filed last month in New York, Sony Music argues he has no legal rights to use the “Ultra” name following the sale.
“Notwithstanding that Moxey received a substantial payment as part of the buyout, after which he ceased to have any involvement in the business of Ultra Records, he has sought to perpetuate the falsehood that he remains involved with Ultra Records by wrongfully continuing to use Ultra Records’ ULTRA trademark as part of his music publishing business,” reads the complaint, which was filed Nov. 11.
The complaint continues that under the terms of a 2012 agreement that marked Sony’s acquisition of 50% of Ultra Records, “Ultra International Music Publishing and its affiliates were only permitted to use the word ‘Ultra; under license from Ultra Records. That license was terminated by Ultra Records following the buyout, effective March 29, 2022.”
The complaint goes on to state that Ultra Publishing’s continued use of the name is in violation of the Ultra Records trademark, noting that “No written license agreement was ever executed between Ultra Records and Ultra International Music Publishing concerning the latter’s use of the ULTRA trademark.”
In a statement provided to Billboard, Sony Music states that “Patrick Moxey sold Ultra Records and the Ultra brand to Sony Music Entertainment in exchange for a substantial buyout payment, and now is perpetuating the falsehood that he remains affiliated with his former company by continuing to use the Ultra name in connection with the publishing operations he controls. These actions knowingly misrepresent his involvement with Ultra and are in clear violation of the trademark rights SME acquired in a mutually agreed upon transaction.”
While a representative for Moxey did not immediately return a request for comment, in a statement given to Music Business Worldwide, he claimed that Sony has “done nothing but bully me from the day I sold them my record company. Ultra International Music Publishing has been an independent standalone business for over 20 years, which publishes songs co-written with Drake, Post Malone, Ed Sheeran, 21 Savage, Rihanna, Future, Kygo and many more.
“The vast majority of our songs are not on Ultra Records or Sony [Music],” Moxey continued. “I have made it abundantly clear on numerous occasions in media interviews that Ultra International Music Publishing is completely separate from Ultra Records, and always has been. I have every right to use the name ‘Ultra’ in connection with Ultra International Music Publishing, and won’t be intimidated by a massive global corporation.”
After leaving Ultra Records, Moxey announced a new dance label venture, Helix Records, which has since released music from Snakehips, Willy William and Two Friends. The imprint is a division of Moxey’s longstanding hip-hop label, Payday Records. Both labels are distributed by Warner Recorded Music’s indie services arm ADA Worldwide.
A new R. Kelly album titled I Admit It was uploaded to streaming services Friday (Dec. 9), but it didn’t come from Kelly’s team or his label.
While the release credits Sony Music’s Legacy Recordings as the label, a rep for Legacy Recordings said the company was not involved in the project. Furthermore, sources at Legacy say the album came as a total surprise and they are inquiring with streamers such as Spotify, Apple Music and Amazon Music about how the album was delivered to them.
The album was uploaded by Universal Music Group-owned distributor Ingrooves, leaving involved parties scrambling to figure out what went wrong. Once Ingrooves executives learned of the release, according to a source familiar with the situation, they set about requesting that streaming services pull the release. By 3 p.m. EST on Friday it was down.
Now, the source says, Ingrooves is in the process of investigating what went wrong internally and is severing a relationship with the label Real Talk Entertainment, which released the album on a sub-label called Legacy Recordings — the same name as Sony’s imprint. Real Talk could not be reached for immediate comment.
In January 2019, Sony and Kelly agreed to part ways days after Lifetime released the Surviving R. Kelly documentary that detailed sexual misconduct allegations against the three-time Grammy-winning singer. Sony still represents Kelly’s catalog of music, however, including his early recordings under Zomba/Jive and then later RCA, both of which are Sony-owned imprints.
The 13-track project arrives as the disgraced R&B singer (real name Robert Sylvester Kelly) is serving a 30-year prison sentence after he was convicted of racketeering and sex trafficking charges in a New York trial last June. In September, during another trial in his hometown of Chicago, Kelly, 55, was convicted of several child pornography charges.
The album’s title track, “I Admit It,” was originally released as a 19-minute track on SoundCloud in 2018. It is now featured as three separate songs, each titled “I Admit It (I Did It),” at the end of the album which addresses the sexual abuse allegations against him over the last few decades and its virulent effects on his career.
Kelly’s attorney, Jennifer Bonjean, did not respond to Billboard‘s request for comment by the time of publishing. But she told Variety earlier Friday that the singer’s team is not behind the release and that he “is having intellectual property stolen from him.”
The last studio album Kelly released was a holiday album titled 12 Nights of Christmas on Oct. 21, 2016. It’s his final album on RCA Records before the label removed him in the wake of the Surviving R. Kelly doc.
This story is developing.
Music companies’ quarterly results in October and November were a bright spot amid a mostly bleak earnings season. High inflation, rising interest rates and the chance of a recession presented a triple-whammy to most sectors — particularly tech and retail — but in the music industry, those macroeconomic threats weren’t enough to dampen consumer demand and investors’ confidence.
“While the broader economy is facing challenges, the music industry as a whole remains healthy,” says Golnar Khosrowshahi, founder and CEO of Reservoir Media, which raised its full-fiscal-year forecast by 11% for both revenue and adjusted earnings before interest, tax, depreciation and amortization (EBITDA).
So what worked in music companies’ favor? In short, more people are going to concerts and buying streaming subscriptions, and revenues from those sectors helped bolster quarterly results for nearly every publicly listed music company.
Diversifiction = Fortification
The major labels, which have a piece of the market in nearly every segment of the music industry, all reported quarterly revenue gains over the third quarter last year, ranging from 16% at Warner Music Group to 6% at Sony Music Entertainment. On Universal Music Group’s third-quarter call, chairman/CEO Lucian Grainge attributed the company’s 13.3% third-quarter revenue gains to UMG’s diversification strategy. While ad-supported streaming revenue slowed significantly, only growing 5.2% (from last year’s 15.6% growth), licensing and other revenues rose by 30% due to an $84.2 million increase in touring revenue from Latin American, European and Asian markets where UMG is in that business. Merchandising and other revenue related to those tours grew by over 100% to almost $199 million. “We are better positioned to navigate the inevitable ebbs and flows of revenue of any particular business, as well as to weather any macroeconomic headwinds,” said Grainge.
Live’s Alive Again
Live Nation Entertainment had its biggest summer concert season ever, reporting that more than 44 million fans attended 11,000 events in the third quarter, as attendance for stadium shows tripled to nearly 9 million. Companywide, Live Nation reported $6.2 billion in quarterly revenue, up nearly 67% from the last-comparable quarter, which for it was the third quarter of 2019.
Streaming’s Still Strong
On a call with investors, an analyst asked Sony deputy president/CFO Hiroki Totoki what risks Sony Music Entertainment faces. His reply: “Streaming is very successful, and we don’t really have that much of a concern.” Spotify’s third-quarter results confirm that. Revenue rose 12% to roughly $3.2 billion at a constant currency, on a 13% uptick in subscription revenue from more than 195 million subscribers — 1 million more than the company targeted.
French streaming company Deezer also reported double-digit revenue growth, although it attributed the increase in part to a one-euro price hike the company instituted in France earlier this year. Deezer’s revenues rose nearly 14% to $112.5 million at the Sept. 30, 2022, exchange rate.
Price hikes, coming at a time consumers’ costs are rising across the spectrum, are the final thing working for music industry companies. After Apple said it would raise its standard individual streaming plan price by $1 to $10.99 in the U.S. and Spotify signaled it was also considering a price increase, major labels and other streaming company executives all said they expect trickle-down benefits.
It’s also worth noting that although Totoki said on the call that Sony is “taking steps to prepare for further deterioration… in each of our businesses,” the company raised its revenue and operating income targets for the full fiscal year by $9.8 billion and $1.9 billion, respectively (at Sony’s assumed exchange rate for the second half of the fiscal year).
Sony Music has added Christel Kayibi to its Africa & Continental Europe team, which she will join as director of repertoire strategy, Africa.
In her new London-based role, Kayibi will be one of the few executives to focus on both Anglophone and Francophone Africa, where she will develop Sony Music’s roster and network; identify catalog, label and other investment opportunities; and drive Sony Music’s entry into new markets across the continent. Kayibi will also work closely with the label’s regional and local Africa teams to assist with the signing of artists in partnership with Sony Music labels worldwide.
For her first project, Kayibi forged a partnership between Sony Music Africa and Afrochella’s parent company, Culture Management Group, along with the streaming service Audiomack, to give unsigned African talent an opportunity to compete for global distribution deals and record contracts through the Ghana-based music festival’s expanded “Rising Star Stage” competition. She will report directly to Daniel Lieberberg, president of Continental Europe & Africa, for Sony, in coordination with Sean Watson, managing director of Sony Music Africa.
Kayibi’s hiring reinforces Africa’s position as a hotbed for global talent that all three major labels want to develop. In September, Def Jam signed an exclusive worldwide joint venture with Native Records, a Nigeria- and U.K.-based label. In June, Universal Music Group also launched Virgin Music Label & Artist Services Africa, which includes over 15,000 music titles, with more than 50 label partners from 25 countries, and releases from more than 100 of Africa’s leading artists. In the last couple of years, Warner Music Group has partnered with Chocolate City, one of Nigeria’s leading independent labels that includes Afrobeat pioneer Fela Kuti‘s son Femi Kuti and “Love Nwantiti (Ah Ah Ah)” hitmaker CKay on its roster, and appointed Temi Adeniji as managing director of Warner Music South Africa and senior vp strategy for Sub-Saharan Africa, a post — similar to Kayibi’s — that’s meant to enhance the company’s presence in the region.
Before moving up at Sony Music, which she joined in 2019, Kayibi previously worked as the senior legal and business affairs manager and A&R at Columbia Records in the U.K., where she worked closely with finance, sales and marketing to ensure successful day-to-day operations of labels, including Columbia Records, 5K Records, Robots + Humans and Dream Life Records.
Before joining Sony Music, Kayibi worked as a lawyer at Slaughter and May, White & Case and Hunton Andrews Kurth LLP.
In 2017, Kayibi became the global legal counsel for Nigerian artist and entrepreneur Mr. Eazi and worked with him on building up his label Banku Music — which expanded its roster beyond its founder with the addition of Nigerian singer Joeboy, Ghanaian singer J.Derobie and Ghanaian DJ/producer GuiltyBeatz –as well as his African talent incubator, emPawa Africa, which currently distributes audio and video content for 100 artists across the African continent. Earlier this year, Kayibi won the best lawyer award at the 2022 Young Music Boss Awards in London, which recognizes the achievements of rising music executives under the age of 35.
Try using some of your favorite songs on the short-form video app Triller, and you’ll be hard pressed to find what you’re looking for.
On Thursday, the music catalogs for Universal Music Group, Warner Music Group, Sony Music and Merlin — which provides digital licensing to many top independent labels and distributors — were removed from the platform.
A Triller spokesperson says the platform is “reassessing each of our label deals as they come due as our catalogue music usage is a small fraction of our overall business with creators.
“Some labels are more used than others and if we can make financial arrangements which make sense for the platform, on a label by label basis, we will. In other cases the usage does not justify the cost.”
The news follows a lawsuit filed by Sony Music Entertainment in August, claiming Triller had “historically failed to make payments in a timely manner” but that this issue got even worse in March 2022 when Triller “failed to make any monthly payments required under the Agreement, totaling millions of dollars.”
A source at one of the other major music companies says similar breach of contract and failure to make payments, including “millions and millions in past due royalties,” was behind Triller’s decision to pull these catalogs. The Triller spokesperson, however, called that claim “false and grossly inaccurate.”
Representatives for Universal, Warner, Sony and Merlin declined to comment.
In a Thursday morning email, Merlin’s senior director of business and legal affairs alerted members that Triller had “commenced the takedown of Merlin content.” He continued, writing “at this stage we do not believe that Merlin is the only licensor/content provider to have had content taken down. The term of our current agreement with Triller has now expired. We will update members as soon as we can regarding renewal discussions.”
Merlin members include Secretly Group, Mom + Pop, Monstercat, Symphonic, Ninja Tune, Beggars Group, FUGA, ONErpm, Domino, SubPop, Vydia and more. The Triller spokesperson told Billboard when asked about the Merlin email, “We are in active conversations with Merlin and expect to renew our relationship and continue our friendly and successful partnership.”
“As Triller has grown and expanded its portfolio of services for creators as an open-garden platform, we are recalibrating some of our partnerships with a focus towards showcasing talent and maximizing their monetization,” that statement continued.
A glance at Triller’s Discover Music page shows that there are now few official music options available after the takedowns, and the promoted new releases and top picks are largely artists with no label affiliation. The only traces left of some label-signed artists are available through searching “OG Sounds,” which are typically user-created soundtracks like remixes that sometimes contain copyrighted material, or if a signed artist collaborated as a feature on a song released independently.
The public rift between Triller and the music business dates back to about 2020, when chairman and CEO of the National Music Publishers’ Association (NMPA) David Israelite criticized the app in an Instagram post, saying Triller needed to fully license its members works. “It’s a simple proposition – license songs before you use them,” he wrote.
In November of that year, Wixen Music Publishing filed a 15-page lawsuit against Triller, suing the company for $50 million dollars, stating in the complaint that Wixen felt encouraged when Triller’s CEO appeared to agree with the NMPA’s criticism that summer, but then, after months with no agreement reached, Wixen opted to file the lawsuit.
In the indictment, Wixen alleged Triller had “brazenly disregarded copyright law and committed willful and ongoing copyright infringement,” of its more than 1,000 song catalog. The lawsuit was dismissed in February 2021.
Eventually, in March 2021, Triller came to an agreement with the NMPA on behalf of its members.
Also in early 2021, Universal Music abruptly pulled its catalog from Triller, saying the app “shamefully withheld” artist payments. A source familiar with the matter told Billboard at the time that the payments UMG claims Triller is withholding went back several months. Three months later, the two companies announced a new, worldwide licensing agreement, spanning recorded music and publishing and restoring the UMG catalog to the app.
This August, Timbaland and Swizz Beatz also sued Triller for failing to make payments due on the sale of their popular Verzuz livestream series the year prior. They claimed the platform still owed them $28 million from the deal 18 months later. That lawsuit was settled in September.
Outside of music, there have been other claims against Triller for allegedly failing to make owed payments. Boxing journalist Dan Rafael reported that Triller had not fully paid several fighters and crew members from a May 2022 fight. In August, the Washington Post reported that Triller “promised millions to Black creators” to use the app as part of a paid influencer program, but “nearly a year after…its payments to many creators have been erratic — and in some cases, nonexistent.” In September, it was also sued by a smartphone app consulting firm that said it was owed more than $132,000 in unpaid fees.
Over the past two years, Triller has repeatedly announced plans to go public but has so far failed to do so — initially through the formerly-popular ‘SPAC’ merger process, and then in June this year filed paperwork with the U.S. Securities and Exchange Commission indicating that it plans to take a more traditional IPO route. In late September, the company announced it had secured $310 million from Luxembourg-based private alternative investment group for a 36-month term following a public listing of Triller’s common stock and would aim for a public listing by early in the fourth fiscal quarter (October-December).
Singer-songwriter Megan Moroney has inked a label deal with Sony Music Nashville and Columbia Records. During her opening performance slot for Warren Zeiders: The Up to No Good Tour on Wednesday evening (Nov. 16) at Nashville’s Brooklyn Bowl, Moroney announced her label signing, and also told the audience that her song “Tennessee Orange” will be sent to country radio.
According to Moroney’s manager, Punch Bowl Entertainment’s Juli Griffith, Moroney and her team were in talks with 18 record labels before signing with Sony Music Nashville and the NYC-based Columbia.
“We picked this combination because they understand exactly who Megan is and what she has already created,” Griffith tells Billboard. “Their plan is to come in and enhance what we are already doing under her creative vision.”
Moroney’s “Tennessee Orange” made its Billboard Hot 100 debut in October, entering the chart at No. 94. The song is currently at No. 19 on Billboard’s Hot Country Songs chart. Moroney wrote “Tennessee Orange” with Ben Williams, David Fanning and Paul Jenkins, with production from Kristian Bush. Moroney released her six-song EP Pistol Made of Roses in July.
A portion of the early appeal of “Tennessee Orange” lies in its backstory, with many fans believing Moroney wrote it about country singer-songwriter Morgan Wallen. In the song, Savannah, Georgia, native Moroney sings of being a University of Georgia fan (Moroney’s alma mater), but she is so besotted with a love interest that she is even willing to wear the University of Tennessee’s trademark orange color (Wallen is a UT fan).
In addition to her new label deal, Moroney’s team includes Griffith’s Punch Bowl Entertainment for management, as well as UTA booking agent Elisa Vazzana, and tour manager Alexandra Kolea.
“We are so happy to have built what we did with a small group of four amazing women (Team Lasso as we call ourselves). The time has come that we need to expand, and we are thankful to have been able to hand pick an amazing team to help us go forward in this journey,” Griffith adds.
Sony Music has set up a joint venture with label ONEWAY. Records focused on English-language repertoire from Israel.
ONEWAY. Records, which was founded by music executives and brothers Josh and Sam Fluxgold, who formerly managed Dennis Lloyd, the Israeli indie-pop artist known for his 2016 single “Nevermind” (released by Warner Italy).
The new venture will work to discover and develop new artists from Israel with “international appeal,” Sony says in a press release.
The Fluxgolds discovered Lloyd and helped guide his international success, which has featured Gold and Platinum records across several markets and sold-out world tours in the U.S., Europe and Australia. “Nevermind” peaked at No. 86 on the Billboard Hot 100 in August 2018 and reached No. 3 on Billboard’s Alternative Airplay chart.
“Josh and Sam have a proven track record for breaking Israeli talent abroad,” said Daniel Lieberberg, president of Sony Music Entertainment Continental Europe and Africa, in a statement.
The Fluxgolds will remain in Toronto, Canada, where they run ONEWAY., a Sony Music spokesperson confirms.
“During our time working in the Israeli market, we recognized the substantial talent that is being overlooked and underrepresented in the region,” the Fluxgold brothers said in a joint statement. “Together with our partners at Sony Music, we look forward to showcasing the unique Israeli sound and artists that the world has been missing.”
Sony will continue to lead its Israel business from its Continental Europe and Africa Head Office in Berlin, a spokesperson says, in contrast to its two main rivals, which have set up operations there over the past three years. Universal Music Group opened an office in Tel Aviv in 2020, becoming the first major label to set up standalone operations in the country; it is led by Yoram Mokady, a lawyer and entertainment executive. Universal Music Publishing Group followed suit in 2021, hiring Itamar Shafrir as general manager of the new outpost.
Warner Music Group said in May that it was launching Warner Music Israel and would open an office in Tel Aviv. Running the new imprint is Mariah Mochiach, general manager of Warner Music Israel, a veteran A&R and artist manager who worked for more than 10 years at Lev Group Media, which has acted as an Israeli distributor for Warner Music.
While still a relatively small market, Israel is a growing territory that ranked 27th in global music collections in 2021, with 35.6 million euros ($35.2 million), up 5.5% from 2020, according to international collections body CISAC. Pop artists like Noa Kirel, who is signed to Warner Music imprint Atlantic Records, are big at home but have struggled to cross over, though that could change for Kirel, who is slated to represent Israel at the 2023 Eurovision Song Contest in Liverpool, U.K. (Israel has won the contest four times since 1978.)
Last year, UMG and Simon Cowell’s Syco Entertainment said they would award an international recording deal to the winner of the upcoming season of The X Factor Israel, something previously unheard of in the Israeli music market. Cowell was set to be a judge on the fourth season of the show but pulled out in May of 2021, Variety reported.