business
Warner Bros. Discovery Exploring Sale of Music Assets
Warner Bros. Discovery is exploring a sale of its music assets that could be worth upwards of $1 billion, according to a source familiar with the matter. The catalog is being shopped by famed entertainment attorney Allen Grubman. While the potential sale — which was first reported by The Financial Times — is still in the very early stages, some of Warner Bros. Discovery’s current music partners could be potential buyers. Universal Music Group (UMG) already administers the publishing assets, which are likely the largest part of the deal, and Warner Music Group (WMG) distributes WaterTower Music, Warner Bros. Discovery’s in-house record label. The assets being shopped, including music and production music from the company’s television and film projects, are not the kinds of music rights...
Why Coachella Always Announces Its Lineup First — And What Happens When It’s Late
With Tuesday’s flurry of festival lineups — including Boston Calling, Bonnaroo, Sonic Temple Festival, and, finally, Coachella — the 2023 North American festival season formally kicked off, and music fans can expect more announcements to follow. This figurative ringing of the bell is typically reserved for Coachella (and Coachella alone), which usually announces its lineup the first week of January. But when Los Angeles-based concert promoter Goldenvoice didn’t deliver on time — for unexplained reasons — it left some executives wondering what to expect from potential ripple effects throughout the festival circuit. That’s due to Coachella’s contracts and stature in the business. Coachella’s artist contracts come with radius clauses that give the Southern California festiv...
Binance approved to offer crypto services to Swedish customers
The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted the local arm of crypto exchange Binance approval to manage and trade digital currencies. According to a Jan. 11 announcement, Binance said following “months of constructive engagement” with the financial regulator, the Swedish FSA granted Binance Nordics AB registration status on Jan. 10. This decision effectively allows Swedish residents to access Binance’s crypto services. “Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard,” said Roy van Krimpen, Binance’s lead in the region. ”Our next big task will be the successful migration and launch ...
Harry Styles Sues Over Fake Merch On the Internet, Says He Must Protect ‘Unknowing’ Fans
Harry Styles is on the legal offensive to combat fake merch on the internet. In a lawsuit filed Tuesday in Chicago federal court, the pop star sued a number of online sellers for allegedly violating his intellectual property rights by selling counterfeit merchandise to unsuspecting Harry fans. Arguing that the counterfeiters use misleading tactics to make it “difficult for consumers to distinguish such stores from an authorized retailer,” attorneys for Styles want a judge to issue a sweeping court order that would, among other things, force big web platforms like Amazon and Etsy (who are not named as defendants) to immediately shut down the listings. “Plaintiff is forced to file this action to combat defendants’ counterfeiting of its registered trademarks, as well as to protect unknowing c...
Billboard’s Power Players’ Choice Award: Vote for Music’s Most Impactful Executive (Semifinalists)
The second round of voting is now open for Billboard‘s first-ever Power Players’ Choice Award, featuring the top 20 nominees voted by their peers. Voting is open to all Billboard Pro members, both existing and new, with one vote per member. Vote below. As previously announced, for the first time ever, Billboard is introducing a peer-voted award to its annual Power 100 ranking of the music industry’s most influential executives. This new Power Players’ Choice Award will honor the executive whose peers believe has the most impact across the music business over the past year, from recording and publishing to touring. The second round of voting featuring the top 20 nominees is now open and will end at 11:59 p.m. EST on Jan. 12. The top five vote-getters will proceed to the third round, beginni...
Nick Jonas, RZA and Blxst Join Speaker Roster at SXSW
Nick Jonas, Blxst and Wu-Tang Clan’s RZA are among the music stars set to speak at this year’s South By Southwest, organizers announced today (Jan. 10). The pop and hip-hop artists are among the third batch of speakers for SXSW, which takes place March 10 – 19, 2023 in Austin, Texas. Jonas, a solo artist and member of the chart-topping sibling act Jonas Brothers, will speak on the health-focused panel, Crushing: The Burden of Diabetes on Patients; Blxst will tackle a session entitled, How Music, Entrepreneurship & Independence Intersect, facilitated by Billboard’s R&B/Hip-Hop reporter Heran Mamo; while RZA, the producer, director, screenwriter, rapper and composer, will take the mic as a featured speaker. Also on board as featured speakers are Eric André, Josh D’Amaro, Tommy Dorfma...
UMusic Hotel Madrid, a 5-Star Lodging Alternative for Music Lovers, Is Now a Reality
Madrid is hosting the first UMusic Hotel, a venture that aims to become an entertainment hub in the heart of the capital of Spain. Co-created by Universal Music Group and Dakia Entertainment Hospitality Group, the hotel is located inside the historic Albéniz Theater building, just a few steps from downtown tourist sites such as Puerta del Sol and Plaza Mayor. The hotel opened on Nov. 14, 2022, at a 60% capacity and is now fully operating, with Antonio Banderas‘ take on the musical Company showing at the theater until Feb. 14. Next, Spanish singer-songwriter David Bisbal will take the stage for 20 days between March and April as part of the celebrations of his 20th music career anniversary. The Albéniz Theater was inaugurated in 1945 and was in operation for more than 60 ye...
Binance joins association to address compliance with global sanctions
Binance has become one of the first crypto firms to join the Association of Certified Sanctions Specialists, orACSS, in an effort to stay in compliance with global sanctions. In a Jan. 6 announcement, Binance said its team of sanctions compliance personnel would be undergoing training as part of the certification process at ACSS. According to the association’s website, the group offered an examination addressing “knowledge and skills common to all sanctions professionals in varied employment settings.” “The blockchain industry is still in its early years, and it’s our priority to continue upholding the highest level of compliance amid a fast-evolving space,” said Binance’s global head of sanctions, Chagri Poyraz. “At the end of the day, we want to continue setting the industry standard for...
How SZA’s ‘S.O.S.’ Cut Through the Holiday Noise to Rule the Charts
The holiday season is usually a wash when it comes to new music releases: the charts are dominated by the likes of Brenda Lee, Mariah Carey, Michael Bublé and Bing Crosby, and carols are dominating the radio on just about every channel. But this year has been different: while the top 10 of the Hot 100 has been full of the usual suspects, the Billboard 200 has been dominated by SZA’s S.O.S., the first album by the alt-R&B singer/songwriter in five years that roared out of the gate upon its Dec. 9 release with the fifth-biggest debut of 2022 and that has ruled the Billboard 200 for three straight weeks, bridging the gap between the holiday season and the opening of 2023. (And the Hot 100 found room for 20 songs from the album for good measure.) The success of that release has been no acc...
’90s Hip-Hop Duo Black Sheep Sues Universal Music Over an Alleged $750M in Unpaid Spotify Stock Royalties
A prominent ’90s hip-hop duo is suing Universal Music Group for withholding royalties tied to what they’re alleging is a “sweetheart” deal the label reached with Spotify in the late 2000s. Filed Wednesday (Jan. 4) in U.S. district court in New York by attorneys representing Andres Titus (Dres) and William McLean (Mista Lawnge), members of the hip-hop duo Black Sheep, the lawsuit claims UMG owes its artists approximately $750 million in royalties deriving from the company’s stock in Spotify. Under a licensing deal they claim UMG and the streaming giant reached in 2008, the label agreed to receive lower royalty payments in exchange for equity in the then-nascent streaming company. But Titus and McLean say the label breached their contract with Black Sheep and other artists by withholding wha...
Final Chapters of ‘Surviving R. Kelly’ Claim Singer Forced Aaliyah’s Family to Sign Non-Disclosure Agreement Following Annulment
The final two installments of Lifetime’s Surviving R. Kelly docuseries series ended with a pair of bombshell revelations about the imprisoned singer’s controversial marriage to a then-underage Aaliyah. The two episodes that debuted on Monday and Tuesday, focused in on Kelly’s 2022 federal trial, which included allegations that the singer and his team allegedly forced Aaliyah’s family to sign a non-disclosure agreement in the wake of the annulment of the performers’ brief marriage. Kelly and Aaliyah were married in secret in August 1994 when the “Rock the Boat” singer was just 15, even though their marriage certificate listed her age as 18; the marriage was reportedly annulled by Aaliyah’s parents in Feb. 1995. Interviews with some of Kelly’s and Aaliyah’s entourages revealed some of the de...
Australian Music Retailer Sanity to Close Its Physical Stores
BRISBANE, Australia — It’s closing time for Sanity, the once-great Australian music retail specialist which confirmed it would close all its bricks-and-mortar stores in the coming months. In a statement issued Wednesday (Jan. 4), Sanity announced plans to close its remaining 50 stores by the end of April 2023, in line with the lease expiry of each outlet. It’s a sad end to a music and entertainment chain which, like so many brands in the business of racking physical soundcarriers, has been left behind as consumers move to streaming platforms. “With our customer shifting to digital for their visual and music content consumption, and with diminishing physical content available to sell to our customer, it has made it impossible to continue with our physical stores,” explains Sanity CEO and ow...
