Utopia
Travis Scott can’t keep his women straight in his latest “I Know?” music video, which he released on Tuesday (Jan. 23). Co-directed by Dave Meyers and Scott, the visual finds the rapper and model Emily Ratajkowski leading parallel lives in the Hollywood Hills, from playing video games to snacking on Scott’s signature McDonald’s meal. But […]
Utopia Music is facing another lawsuit over an aborted deal to buy a U.S. music technology company called SourceAudio, this time over allegations that the Swiss company violated a $400,000 settlement that aimed end the dispute.
The two companies have been battling since February, when SourceAudio filed a lawsuit claiming that Utopia – a buzzy music fintech firm – had bailed on 2022 deal to buy the smaller company for $26.5 million. The case claimed that after a year of delays, Utopia owed more than $37 million on the deal.
That case, filed in Delaware, quickly settled on confidential terms. But in a new lawsuit filed Wednesday in Los Angeles, SourceAudio says Utopia has now flaked on that agreement, too.
“Desperate to get the Delaware litigation out of the public eye, Utopia negotiated an agreement to pay SourceAudio $400,000 in exchange for a full release and dismissal of the lawsuit,” the company’s lawyers write. “But as with the underlying contract, Utopia has refused to pay what it owes.”
According to the new lawsuit, just days after signing the legal settlement, Utopia “failed to make the required settlement payment—with no explanation at all.”
“It now appears that the settlement was simply a ruse by Utopia to buy time and avoid paying its debts,” the smaller company’s lawyers write. “SourceAudio brings this action to collect what it is owed [or] to rescind the fraudulently procured settlement agreement. Utopia’s gameplaying must come to an end.”
A spokesman for Utopia did not immediately return a request for comment on Thursday.
Utopia, a Swiss-based tech company that delivers financial services for labels, publishers and distributors, had been on a buying spree over 2021 and 2022. The company has acquired at least 15 companies, including music tech company Musimap, U.K. physical distributor Cinram Novum and Lyric Financial, a provider of royalty-backed cash advances.
But last fall, news broke that Utopia would restructure operations and lay off 20% of its workforce, representing about 230 jobs. In April, the company undertook a fresh round of job cuts, eliminating another 15% of its global workforce. Then in July, Utopia announced it was closing its research and development offices in the United Kingdom and Finland, resulting in the loss of another 5% of its global workforce.
SourceAudio — a tech platform for digital asset management and monetization — sued in February, claiming it had struck a deal in March 2022 to sell itself to Utopia for $26.5 million. Since almost immediately after the deal was reached, SourceAudio claimed, the bigger company had continually balked at actually completing the purchase.
“Despite repeated assurances that Utopia would be able to close…, Utopia engaged in a pattern of discontinuing discussions for an extended period of time, only to resurface immediately before the next intended closing date to indicate that it was unable to close by such date,” the complaint read.
In Wednesday’s new lawsuit, SourceAudio claims that Utopia quickly agreed to pay $400,000 to end the earlier case. Though Utopia made an initial $50,000 payment under the deal, the lawsuit claims, the remaining $350,000 – due this month – has not been paid.
“Defendants fraudulently represented through their attorney that they would perform the settlement agreement, while never intending to make any payment beyond the first installment of $50,000,” The company wrote. “Defendants’ objective with its false promise was to secure a release and dismissal of the Delaware action in exchange for a $50,000 payment and nothing further.”
Travis Scott is taking his Billboard 200 No. 1 album Utopia around North America this fall and winter for the Utopia – Circus Maximus Tour, Live Nation announced Tuesday (Aug. 29).
The 28-date jaunt begins at Charlotte’s Spectrum Center on Oct. 11 and travels throughout major U.S. cities including Los Angeles, Miami, Chicago and New York City before wrapping Dec. 29 at Toronto’s Scotiabank Arena. The Utopia – Circus Maximus Tour will also include Scott’s largest headlining show to date at Los Angeles’ SoFi Stadium on Nov. 5.
Despite Houston Mayor Sylvester Turner’s statement earlier this month about Scott returning to his hometown as part of his upcoming tour, the Utopia – Circus Maximus Tour currently does not have any dates listed for Houston. Houston Police Department Union president Douglas Griffith said in his own statement that Oct. 19 and Nov. 20 “were the dates in which were proposed for the return.” If Scott were to return to Houston for a performance, it would mark his first since the Astroworld Festival tragedy in November 2021, when 10 people died and hundreds were injured during a deadly crowd crush. On the day of Utopia‘s release, on July 28, HPD released a nearly 1,300-page report detailing the investigation into the tragedy. The report arrives just a month after a Houston grand jury declined to file criminal charges against Scott and other Astroworld organizers over the deadly incident. Since the Nov. 5, 2021, event, thousands of alleged victims have filed more than 400 civil lawsuits against Scott, Live Nation and others involved with the festival.
Tickets will go on sale Thursday, Aug. 31, at 10 a.m. local time at travisscott.com. Live Nation reported that $2 from every ticket sold will go to the rapper’s Cactus Jack Foundation, a 501(c)(3) nonprofit organization with a mission to uplift Houston youth through toy drives, scholarship programs to HBCU college students, and fulfilling expenses for education and creative endeavors.
Scott’s latest album, Utopia, has spent the last four weeks at the top of the Billboard 200, making it his third No. 1 on the chart and first solo album since 2018’s Astroworld. It’s also the first rap album to spend its first four weeks at No. 1 on the Billboard 200 in five years, since Drake’s Scorpion.
The “Meltdown” MC performed the album for the first time in Italy on Aug. 7, alongside special guest Kanye West, in front of 60,000 people at Rome’s Circus Maximus. The concert occurred after his canceled live set at the Pyramids of Giza in Egypt, which was originally slated for July 28. CNN reported that 60 people were injured at Scott’s Italy concert.
See the dates below.
Oct. 11 – Charlotte, NC @ Spectrum CenterOct. 13 – Raleigh, NC @ PNC ArenaOct. 17 – Dallas, TX @ American Airlines CenterOct. 20 – Kansas City, MO @ T-Mobile CenterOct. 22 – Denver, CO – Ball ArenaOct. 25 – Phoenix, AZ @ Footprint CenterOct. 29 – Las Vegas, NV @ MGM Grand Garden ArenaOct. 31 – Oakland, CA @ Oakland ArenaNov. 5 – Los Angeles, CA @ SoFi StadiumNov. 8 – Seattle, WA @ Climate Pledge ArenaNov. 10 – Vancouver, BC @ Rogers ArenaNov. 12 – Portland, OR @ Moda CenterNov. 15 – Salt Lake City, UT @ Delta CenterNov. 18 – Tulsa, OK @ BOK CenterNov. 21 – Austin, TX @ Moody CenterNov. 25 – Atlanta, GA @ State Farm ArenaNov. 27 – Miami, FL @ Kaseya CenterDec. 4 – Nashville, TN @ Bridgestone ArenaDec. 6 – Baltimore, MD @ CFG Bank ArenaDec. 8 – Pittsburgh, PA @ PPG Paints ArenaDec. 10 – Philadelphia, PA @ Wells Fargo CenterDec. 12 – Detroit, MI @ Little Caesars ArenaDec 15 – Chicago, IL @ United CenterDec. 18 – Brooklyn, NY @ Barclays CenterDec. 21 – New York City, NY @ Madison Square GardenDec. 23 – Boston, MA @ TD GardenDec. 26 – Newark, NJ @ Prudential CenterDec. 29 – Toronto, ON @ Scotiabank Arena
Travis Scott celebrated his Billboard 200-topping album Utopia on Monday (Aug. 7) with a performance at Rome’s Circus Maximus. The event marked the global live debut of the record-breaking album, with more than 60,000 attendees and a rare Kanye West appearance. The show also got a bit rowdy, as CNN reported that at least 60 people required medical attention […]
When Travis Scott decides to do something, he usually goes big.
And with his latest album, he decided to go colossal, with a 60,000-person concert unveiling his latest release, Utopia, at Rome’s iconic Circus Maximus, the ancient stadium that used to serve as a chariot racing venue during the Roman Empire. The event came together in less than a week and served as a capstone to the rollout for what became the biggest debut week for a hip-hop album this year, and the third-biggest week of any album at all in 2023, moving 496,000 equivalent album units.
Even more remarkable for an album in a genre that heavily over-indexes in streaming, half of the units moved for Utopia came from sales, as Scott continues to be one of the most innovative artists in music with his sales strategies. Helping him pull all this off has been his manager, Cactus Jack GM David Stromberg, who earns the title of Billboard’s Executive of the Week.
Here, Stromberg talks about the huge first week for Utopia, the challenges in pulling off that show at the Circus Maximus and why artists should be celebrated for their approach to merchandising and sales. “A24 releases merch for their big movies, Disney and Marvel create massive product lines around their blockbusters, fans line up for jerseys and official merch at every sporting event,” he says. “But strangely in music, it’s now considered a negative towards overall consumption and metrics behind a project. I feel record-breaking artists who are able to move merchandise at an elite level should be celebrated at a time when branding, creativity and marketing [are] generally nonexistent in the music industry.”
This week, Travis Scott’s Utopia debuted at No. 1 on the Billboard 200 with 496,000 units, the third-biggest debut week of any album this year and by far the biggest for any hip-hop album. What key decisions did you make to help make that happen?
Our small core team has been together since the start of Travis’ career. Cactus Jack is essentially an independent label and polymath-driven creative agency — we oversee everything from marketing strategy to design and execution. I also handle everything on the business end. For this project, Travis really wanted to lean into building a strong visual language. Producing his film CIRCUS MAXIMUS on an insanely tight timeline, shooting in exotic locations around the world and premiering the album within a film in theaters nationwide was a massive undertaking but definitely set up the project in a unique way. We are all super proud of the final product and it was amazing to see the world’s reaction.
This is his first album since 2018’s Astroworld, which also posted around 500,000 units in its first week. After five years, how did you work to set up this release to the point that it nearly equaled his last?
While the numbers are powerful and have important historical context, our focus is always primarily on the music and world-building. ASTROWORLD was such a seminal moment in culture, we wanted to level up that energy and recapture the feeling of event albums, which are clearly lacking in music lately. UTOPIA‘s first-week global streaming numbers actually almost doubled ASTROWORLD, Billboard just quantifies merch bundles differently now than in 2018 [in terms of sales]. On a global consumption level, it’s safe to say it actually far surpassed ASTROWORLD.
Of those units, about half came from streaming and half came from sales. What was the strategy around each side of that, particularly the sales side?
One thing that doesn’t get talked about nearly enough when judging music consumption data is the inherent disadvantages hip-hop faces in manufacturing physical music product. Due to the fluid nature of rap collaboration, leak culture and last-minute changes, vinyl lead time always far exceeds album delivery dates for rap. Pop artists are usually able to turn in their albums five to six months early and manufacture a significant amount of vinyl with a robust retail plan in place. Vinyl often ends up accounting for well over 50% of these pop artists’ first-week totals, whereas hip-hop is judged entirely on streaming. In an even playing field, rap stars are going to far out-stream even the biggest names in pop music, but for whatever reason they aren’t graded on the same sales curve. Going into this rollout we wanted to crack the code — we successfully manufactured our own vinyl and CDs in record time and built an e-com plan to leverage day-and-date physical music for the first time in modern mainstream rap. It was a really ambitious plan but thankfully everything came together smoothly. Huge thank you to recent Billboard cover hero Larry Jackson for his invaluable guidance and strategy throughout this whole process.
How important are direct-to-consumer sales and merch to an artist like Travis?
Man… I’d love to eventually have a deeper conversation around this topic at large. For some reason, direct-to-consumer and merch is used as a negative connotation against artists like Travis, oftentimes by artists or labels doing the exact same thing in their online stores to diminishing returns. Why stigmatize artists with extremely active fan bases who want to engage and support the album, even at a much higher price point than just a la carte music? Since the inception of rock and roll, merch has always been an important part of supporting your favorite artists. A24 releases merch for their big movies, Disney and Marvel create massive product lines around their blockbusters, fans line up for jerseys and official merch at every sporting event. But strangely in music, it’s now considered a negative towards overall consumption and metrics behind a project. I feel record-breaking artists who are able to move merchandise at an elite level should be celebrated at a time when branding, creativity and marketing [are] generally nonexistent in the music industry.
How did you choose the Circus Maximus for that performance, and what were the challenges in pulling it off?
Ancient worldwide settings were an early reference point for this album. Travis was particularly interested in civilizations that transcended technological and cultural limitations to reach new heights. Part of the film is essentially a live performance from the ancient Pompeii amphitheater ruins. We have a couple other Wonders of the World locations held for possible performances, currently studying timing and logistics. With the Circus Maximus show we basically put it on sale, designed the stage, produced the livestream ourselves and sold 60,000 tickets in less than a week. It was a crazy challenge but one of the most rewarding and epic shows of his live career. The energy and hearing the album live for the first time in that setting was an unforgettable experience and iconic way to conclude the first week of UTOPIA rollout.
How are you working to keep the momentum for this release going in the weeks and months to come?
I don’t want to say too much, but there is a lot in the works. Definitely continuing to build the UTOPIA world in unexpected ways. We just released the CIRCUS MAXIMUS film on Apple Music after a week of exclusivity in theaters. We’ve been thinking a lot about touring in different, innovative ways and utilizing new technologies in live performance. And Travis is always working on new music.
Travis Scott celebrated his Billboard 200-topping album Utopia on Monday (Aug. 7) with a performance at Rome’s Circus Maximus, and the show featured a rare onstage appearance by Kanye West. Explore See latest videos, charts and news See latest videos, charts and news “There is no Utopia without Kanye West. There is no Travis Scott without Kanye […]
Travis Scott finally dropped his fourth studio album Utopia on Friday, July 28 via Cactus Jack and Epic Records. The highly anticipated album arrives five years after his last studio album Astroworld, which debuted at No. 1 on the Billboard 200 and included the Billboard Hot 100 No. 1 single “Sicko Mode,” featuring Drake, which […]
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