bbbiz
Live Nation, Ticketmaster Move Forward With New Round of Furloughs
Live Nation Entertainment has begun a second round of companywide furloughs through its U.S. venues and Ticketmaster North America divisions. The cuts affects hundreds of staff members as the concert business continues to grapple with the human costs of the coronavirus pandemic. In 2019, Live Nation generated $11.6 billion in revenue, but the publicly-traded company is now less than a month away from beginning its third quarter with virtually no revenue and a $185 million in monthly expenses. The touring giant pulled its tours from the road on March 13 and has since only dabbled in pandemic-safe productions, such as drive-in concerts. While Billboard doesn’t have an exact number, sources estimate that hundreds of employees have been affected by the latest round of cost redu...
BMG Posts Solid First Half of 2020, With Revenue Jumping 4.8% and Streaming Up 26%
Despite the COVID-19 pandemic, the company says it just had its best first half since launching in 2008. The pandemic-causing economic downturn didn’t slow down BMG as the music company posted a 4.8% increase in revenue to €282 million euros ($310.8 million) at the mid-year point ended June 30, up from €269 million ($303.9 million) in the year-earlier period. The music operation of German conglomerate Bertelsmann also managed to hold its own in terms of profit, posting €49 million in earnings before interest, taxes, depreciation and amortization, the same amount it had in the first half of 2019. But with profit levels holding steady while revenue grew, that resulted in EBITDA margin falling to 17.3% from 18.1% in the prior half year results. The results represent the company’s “...
What’s a Livestream Worth?
How much is that concert in the computer window? Six months into the pandemic, here’s how artists are experimenting with pricing to see what consumers will pay. In April, Dutch DJ Oliver Heldens cruised the canals of Amsterdam in an open-air boat outfitted with turntables, blasting a set of future house music that was streamed on YouTube. The spectacle cost between $5,000 and $10,000 to produce, but Heldens made it free for viewers. He thought of it as a marketing expense to stay in fans’ minds as coronavirus lockdowns became the norm around the world, his manager, Dave Frank, tells Billboard. In the five months since, livestreamed concerts are slowly becoming a source of revenue, as well as promotion. These days, Frank, of management firm Milk & Honey, gets several livestream offers a...
Choosing A Livestream Platform: A Guide For Artists And Managers
The New Livestreaming Landscape Here’s how the leading livestream platforms stack up on revenue split, merch integration and more key variables for artists. When the coronavirus shut down the live industry, artists had no choice but to cancel or postpone their tours. Now they face an overwhelming range of choices as dozens of livestream platforms compete to be the next big virtual stage. Many of these livestream companies launched amid the pandemic, while new services are debuting on an almost weekly basis. They have much in common and are sometimes difficult to tell apart, but employ a variety of business models — including pay-per-view ticketing, sponsorship and virtual tipping. To help artists make an educated decision about which platform to use to reach their fans — or collect new one...
If You Stream It, Will They Come? Inside The Livestream Boom
Sessions founder Tim Westergren estimates the market for virtual concerts is worth $1 billion with the potential to grow to “tens of billions” in just a few years, but can that rate of expansion continue when actual live shows resume? At a 2007 Los Angeles music industry function, Ray Smith was pitching his new company, BE-AT.TV, to a high-ranking Live Nation executive. The business was focused on livestreaming electronic music festivals like Tomorrowland and Ultra Music Festival, and Smith says the executive’s reaction was not as he had hoped: “He was like, ‘Who the hell is going to sit at home and watch a bunch of kids partying on a laptop?'” Thirteen years and a global pandemic later, millions of music fans worldwide are doing just that, and Smith’s newly rebranded BeA...
US Music Venues Will Light Up Red on Sept. 1 to Demand Passage of The Restart Act
Music venues across the U.S. will bathe their facilities in red light on Tuesday evening to encourage Congress to pass the Restart Act, which would provide much-needed assistance for millions of Americans who have lost income due to the pandemic. Spearheaded by the #WeMakeEvents coalition, the #RedAlertRESTART campaign seeks to bring awareness to the dire situation live music faces if Capitol Hill does not supply support for venues that have been shuttered since mid-March in order to slow the spread of COVID-19. From 9 p.m. to 12 a.m. PST on Tuesday night, music venues nationwide will be lit red to highlight that the live events industry is on red alert for its survival. The campaign is also coming out in support of ExtendPUA.org, which is lobbying for the continuation ...
Like Betty White and Fine Wine, SiriusXM Host Jeannie Seely Gets Better With Age
Were COVID-19 not in the way, Jeannie Seely would have held court at the SOURCE Awards on Aug. 25, co-hosting an event that celebrates the women who are instrumental in the growth of Nashville’s music business. Seely would’ve swapped jokes and one-liners with Brenda Lee about height and aging, likely with a little sexual innuendo thrown in to keep the crowd laughing, handling the spotlight at age 80 as well as she ever has in over 50 years as a Music City artist. Seely has been a Grand Ole Opry member since 1967, the same year that she won a Grammy for her signature song, “Don’t Touch Me.” But her comfort and command of the stage have her living out her golden years as a veritable golden girl, country’s version of Betty White. “IR...
RBD’s Catalog Coming Soon to All Streaming Platforms
When RBD performed their last concert on Dec. 22, 2008 in Madrid, the world said goodbye to a Mexican band that became an unstoppable force, thanks to their hit telenovela Rebelde and a series of coming-of-age pop anthems featuring members Anahí, Alfonso Herrera, Dulce María, Christian Chavez, Maite Perroni and Christopher von Uckermann. The group’s music has been hard to find as well, given its absence on streaming services. You could consider yourself lucky if you had a physical copy of one of their chart-topping albums or had attended one of their sold-out concerts around the world. But 12 years later, RBD’s catalog is set to be made available across all digital streaming platforms as of midnight Sept. 4. Why the catalog wasn’t available before is a complex story ...
With 100 Million U.S. Subscribers, Streaming Services Declare: ‘We Are Fully Part of This Industry’
The topline stats in the new “Streaming Forward” report from trade group the Digital Media Association (DiMA) are reason enough to sit up and notice. By the end of 2019, there were 99 million active streaming subscribers — procured from 87.5 million paid users — in the U.S. alone. And over the previous two years, paid subs jumped 74.6% and revenue rose 57.7%, fueling optimism for a long-suffering industry and turning streaming services, labels and publishers into hot investments. It’s no wonder Spotify’s stock is soaring and Warner Music Group had a successful IPO in the pandemic’s early days. Streaming has made music hot again. But the 43-page report, conducted by MiDIA Research for DiMA, begs the question on why they would fund such a market research study. ...
Mexican Singer-Songwriter Silvana Estrada Becomes First Latin Artist Signed to Glassnote Records: Exclusive
Mexican singer-songwriter Silvana Estrada has become the first Latin artist signed to Glassnote Records, Billboard can confirm. Joining the indie label’s roster, which includes award-winning artists like Phoenix and Mumford & Sons, the artist-to-watch signed with Glassnote following a quick visit to New York back in February. “After meeting the team, and a spontaneous performance, both parties left mesmerized,” according to a statement issued by Glassnote. “She officially joined the Glassnote family shortly after.” Born and raised in Veracruz, Mexico and inspired by artists like Billie Holiday and Sarah Vaughan, Estrada began her musical career at a young age experimenting with different instruments — both her parents were luthiers. “My music i...
ICM Models, Bella Hadid, Hailey Bieber & More to Return Fraction of $1.7M Fyre Fest Promo Fees
A dozen of the agency’s models appeared in a video promoting the disastrous event that defrauded attendees and investors. ICM Models and its clients Bella Hadid, Hailey Bieber, Alessandra Ambrosio, Chanel Iman, Elsa Hosk, Shanina Shaik, Nadine Leopold, Hannah Ferguson, Alyssah Ali, Rose Bertram, Daniela Lopez and Gizele Oliveira have reached a settlement over a combined $1.7 million fee they received for promoting the disastrous Fyre Festival in 2017. In total, they will have to repay $150,000 to a settlement account set up for the festival victims. Baldwin, Bieber, Iman and the other IMG models appeared in bathing suits in a promotional video that announced the festival, promising two “transformative” weekends that “would exceed all expectations.” While the models, along with social...
Thinking of Selling Your Catalog? How to Plan the Smart Way: Video
Watch a panel modered by Billboard editorial director Hannah Karp and hosted by A/B Bernstein offering guidance to creatives considering the move. Combine a surge in music streaming, a pause in live revenue and a slew of potential buyers seeking steady returns — it’s no wonder many songwriters are currently asking themselves, “Should I sell my catalog?” To help answer that question and many others, investment management and research firm A/B Bernstein hosted a live-streamed panel discussion this month to provide advice for songwriter catalog sellers about what to expect in the sale process, including anticipated legal issues. Also addressed? Important estate planning steps that may be relevant for long-term financial and tax planning. Hosted by A...
