bbbiz
YouTube Launches TikTok Competitor in India
YouTube Shorts allows users to record and upload 15-second videos straight from their mobile phones. YouTube is entering the race to usurp TikTok’s dominance in the short-form video space with YouTube Shorts, a new tool that will allow users to record and upload 15-second videos straight from their mobile phones. This week, YouTube will launch an early beta of Shorts in India, which in late June banned TikTok and dozens of other Chinese-owned apps, citing security concerns. Since the ban, the popularity of TikTok competitor Triller exploded in India, surging to No. 1 on Apple’s App Store in the country. In its early beta launch in India, Shorts will boast a number of creation tools similar to those on TikTok and its competitors, including a multi-segment camera allowing users t...
ViacomCBS to Sell CNET for $500 Million to Red Ventures
ViacomCBS has struck a deal to sell its CNET unit to Red Ventures for $500 million. The transaction, which is expected to close in the fourth quarter of 2020, is subject to regulatory approvals and customary closing conditions. CBS acquired CNET, which offers consumer electronics product reviews and news, in 2008 for $1.8 billion. Since the recombination of Viacom and CBS, the new ViacomCBS has been selling off non-core assets to reduce debt and free up financial fire power for expansions in the streaming space and other core businesses. The company, led by CEO Bob Bakish, also has put on the auction block CBS’ longtime Manhattan headquarters Black Rock and book publisher Simon & Schuster. “Red Ventures believes in the power of premium content from trusted brands that help ...
Executive of the Week: RECORDS CEO Barry Weiss
This week, 24kGoldn and iann dior’s record “Mood” climbed into the top 10 of the Hot 100 in its fourth week on the chart, reaching No. 8 with the distinction of top airplay and streaming gainer honors. The track, released by RECORDS/Columbia, has been boosted by an unusual multi-genre appeal, which sees it spending its second straight week at No. 1 on the Hot Rock & Alternative Songs and Hot Alternative Songs charts, while maintaining a slot at No. 5 on the Hot Rap Songs chart. And that’s helped RECORDS CEO Barry Weiss earn the title of Billboard’s Executive of the Week, for helping shepherd the song to huge gains across the board. And while this is the first top 10 for 24kGoldn, Weiss isn’t expecting it to be his last. “He’s been building through old-fashioned artist...
Executive Turntable: WMG Names Head of Investor Relations, FUGA Makes Key Leadership Hires
Warner Music Group has hired Kareem Chin as senior vp head of investor relations effective immediately. Chin arrives at WMG from iHeartMedia, where he served in the same role. Chin, whose appointment follows WMG’s recent IPO, will lead the company’s investor relations efforts and work closely with the company’s finance and corporate communications teams. He will also oversee key events, including quarterly earnings calls and attendance at investor conferences. At iHeartMedia, which he joined as it was emerging from bankruptcy, Chin developed and built out the company’s investor relations function as it explored listing options and later made its debut on the Nasdaq exchange. Prior to that, he was vp investor relations at Viacom, a role that followed over a decade in investment banking. Mus...
U.S. Recorded Music Business Still Growing (A Bit) Amid Pandemic: RIAA 2020 Mid-Year Report
The good news: The U.S. recorded-music business was still in an upswing in the first half of 2020, growing 5.6% at retail to $5.7 billion, up from $5.4 billion, continuing a trend of growth that extends back to the industry’s nadir in 2015. The less-good news: That growth, like most everything else in the music business and beyond so far this year, took a pandemic-related hit, ending a short streak of double-digit gains after a 17% boost at mid-year 2017, 10% at mid-year 2018 and 18% at mid-year 2019. Of course, percentage-based growth, by its nature, is always increasingly-difficult to improve upon, and once-in-a-generation pandemics were never going to help keep that streak alive. And within that context there’s still plenty of good news for the industry in its continued recovery amid th...
Hipgnosis Songs Buys Big Deal Music
Merck Mercuriadis‘ Hipgnosis Songs has acquired independent publisher Big Deal Music, Billboard has learned. A formal announcement is expected as soon as Thursday. Under the deal, Big Deal will keep its Los Angeles-area office and staff, rebrand under the Hipgnosis banner and operate as Hipgnosis’ full-service U.S. office, a source familiar with the situation tells Billboard. Big Deal’s catalog includes songwriters Teddy Geiger (Shawn Mendes, Niall Horan), Kamasi Washington, Gary Numan, Ross Golan (Selena Gomez, Ariana Grande), and Sleater-Kinney, among others, as well as joint venture deals with Ricky Reed (Lizzo, Jason Derulo) and Diplo‘s Mad Decent. The company was founded by publishing vet Kenny MacPherson, whose resume includes founding Redhead Music Publishing...
BMI Posts Record Revenue Despite Pandemic Hit to Licensing
Collections from April to June fell by an estimated $60 million, but a digital boost helped make up the difference. BMI generated $1.311 billion in revenue in the year ended June 30, 2020, a 2.2% increase over the $1.283 billion it reported in the year earlier period. Distributions were up too, totaling $1.233 billion — a 3.1% increase from the $1.196 billion paid out to songwriters and publishers in the prior fiscal year. Domestically, the performance rights organization collected $961 million, increasing 1.9% from the year-earlier period. Foreign receipts grew 2.9% to $350 million. As a percentage of revenue, that breaks out to 73.3% domestic and 26.7% foreign, a 0.2% shift in favor of international collections compared to the prior year. BMI estimates that its fourth quarter reven...
The Players Behind DaBaby & Roddy Ricch’s ‘Rockstar’: See the Full Credits
DaBaby’s “Rockstar” feat. Roddy Ricch officially finished out the season at No. 1 on Billboard’s 2020 Songs of the Summer chart, having led the tally for 13 out of 15 tracking weeks. The annual chart tracks the most popular songs based on their cumulative performance on the weekly streaming-, airplay- and sales-based Billboard Hot 100 chart between Memorial Day and Labor Day. In addition, “Rockstar” was the most streamed song of the summer, having racked up 514.6 million streams, according to Nielsen Music/MRC Data. It topped the Hot 100 for a total of seven weeks. Explore the team of musicians, producers, engineers and more behind the track with recording credits provided by Jaxsta below. ArtistsMain Artist – DaBabyFeatured Artist – Roddy Ricch Songwriters:Composer Lyricist &#...
Hometown Heroes: Country Ties Emotional Messages to Physical Roots
When Big Loud singer-songwriter HARDY drove back to Nashville after a visit with his dad in Philadelphia, Miss., sometime in the last two years, his father told him to hit Play on the CD in the dash at a specific point in the journey. His father had queued up Travis Meadows‘ reflective “Mississippi,” and as the track’s storyline unfolded with every-day, familial images about “the home I couldn’t wait to leave behind,” the journey away from his hometown weighed heavily on HARDY. “I just lost it,” he says. “I completely started crying, and I started thinking about how proud I was to be from where I was from. But I don’t know why that is.” Maybe not, but HARDY — like many of his fellow country artists and songwriters...
R. Kelly Attacker Confesses, Singer Requests Release on Bail
An inmate claims he was “forced” to assault Kelly “in hopes of getting spotlight attention and world news notice to shed light on the government corruption.” R. Kelly is asking a judge to release him on bail after he was attacked last week by an inmate. In a motion filed Friday (Sept. 4), Kelly’s attorney Michael I. Leonard says not only did the Bureau of Prisons not protect his client, but also that personnel at the facility actually encouraged the inmate to attack the singer. As proof, Leonard presented to the judge a handwritten motion from inmate Jeremiah Farmer confessing to the attack. In the motion, titled “The Government Made Me Attack R-Kelly,” Farmer said after he told a mental health professional at the facility of his plan to attack Kelly, the person enc...
UTA to Reinstate Staff Pay, Lay Off 50 Employees
United Talent Agency CEO Jeremy Zimmer told staff Wednesday of impending increases in pay for hourly employees. In a memo to staff on Wednesday, United Talent Agency CEO Jeremy Zimmer delivered both “positive” and “difficult” news, writing that the agency would be reinstating full pay to its employees in the next two weeks, but would also be laying off 50 staffers. UTA is the first of the major agencies that cut salaries at the beginning of the pandemic to offer to reinstate full pay. The layoffs will affect both current and some furloughed employees across several divisions, at both the assistant and agent level. (The agency will cover the COBRA health insurance payments of that laid off for an indeterminate period of time.) In May, UTA, which employs more than 1,1...
Gary Clark Jr., Tones and I to Headline The Surf Lodge Virtual Concert Benefit
The Endless Summer series isn’t quite over: Gary Clark Jr., Tones and I, Oli Benz and Blackillac will take the stage this weekend. This weekend, The Surf Lodge will close out its summer programming schedule with a two-night concert event. In partnership with Bumble and The Governors Ball, the virtual celebration will feature Australian breakthrough artist Tones and I on Saturday evening with opener Oli Benz at 7:30 p.m. EST. On Sunday night, Gary Clark Jr. will close out the weekend with opener Blackillac, also at 7:30 p.m. EST. One of Clark’s previous performances at The Surf Lodge has been viewed 5.6 million times on YouTube. The events serve as fundraisers for Bryan Stevenson’s Equal Justice Initiative, an organization that works to end mass incarceration, excessive punishme...
