business
Warner Music Shareholder Who Named Label in Sexual Misconduct Suit Fails to Win Board Seat
Former Atlantic Records employee Dorothy Carvello lost her bid for a seat on Warner Music Group’s board of directors last month after failing to comply with certain requirements in the company’s bylaws, spokespeople for Carvello and the record label said on Tuesday (Jan. 3). Under a new rule passed by the U.S. Securities and Exchange Commission last year that makes it easier for minority shareholders to wage campaigns for board seats, Carvello sought to nominate herself for a seat on WMG’s board, to be voted on at the next shareholder meeting. The activist and author, who alleged in her memoir, Anything for a Hit: An A&R Woman’s Story of Surviving the Music Industry, that she was subjected to sexual abuse and misconduct while working at Atlantic from 1987 to 1990, plans to run again ne...
Here Are the Biggest Music NFTs in December as Year Ends 95% Down From January
NFTs had a wild 2022. January began with euphoric highs and a record $4.8 billion traded on OpenSea. By contrast, December ended the year with a hangover — volumes down by 95% with just $283 million traded in the month. Still, the crypto winter hasn’t deterred musicians from embracing Web3. December saw an uptick in music NFT activity thanks to legacy artists Armin van Buuren and Styles P, as well as high-profile drops from crypto-native musicians like 3LAU and Daniel Allan. The first “billion club” NFT was released, unlocking streaming royalties in a track with more than a billion Spotify plays. Meanwhile, the independent scene continued to flourish with a seventh-straight month of rising volume on Sound.xyz – the largest platform for independent musicians. Across the 10 biggest music NFT...
Stanley Mills, Former Music Publisher, Dies at 91
Stanley Mills, a former music publisher who served on the boards of the National Music Publishers’ Association (NMPA) and the Harry Fox Agency, has died at the age of 91. Explore Explore See latest videos, charts and news See latest videos, charts and news Mills, the son of Mills Music Publishing Company founder Jack Mills, died on Thursday (Dec. 29) at the Long Island Jewish Medical Center in New Hyde Park, N.Y. A cause of death was not provided. Mills was born on Feb. 18, 1931. He began his career by working for his father at Mills Music. He remained with the company after it was sold to EMI Music Publishing in 1964. Two years later, he joined E.B. Marks (now Carlin America). In 1968, with the urging of his songwriter friends, Mills founded September Music and Galahad Music, representing...
Another Woman Files Sex Abuse Lawsuit Against Bill Cosby, NBC
A woman who alleges Bill Cosby drugged and sexually assaulted her in 1986 sued the comedian-actor, NBCUniversal and other companies Friday (Dec. 30) in New York, where five other women filed a similar lawsuit earlier this month. Stacey Pinkerton says she was a 21-year-old flight attendant and model that year when she claims Cosby drugged her at a restaurant in Illinois and took her back to a hotel room in Chicago. The lawsuit alleges Cosby “engaged in forced sexual intercourse” with her while she was incapacitated from the drugs. The lawsuit comes more than a year after Cosby left prison after his 2018 sexual assault conviction in Pennsylvania was overturned. Earlier this year, a Los Angeles jury awarded $500,000 to a woman who said Cosby sexually abused her at the Playboy Mansion when she...
Songwriters’ New Streaming Royalties Approved Before the New Year
Arriving just before New Years’ Eve, on Friday (Dec. 30), the Copyright Royalty Board judges issued their ruling on streaming royalty rates for songwriters for the period of January 2023 to December 2027, upholding a settlement proposed by the National Music Publishers’ Association (NMPA), Digital Media Association (DiMA), and Nashville Songwriters’ Association International (NSAI) in late August. This ruling sets the rates for Subpart C and D of the five year period known as Phonorecords IV (or “Phono IV” for short), and it represents a compromise between the music industry and the streaming services, creating certainty around the royalties owed to songwriters for U.S. mechanicals. According to the settlement, which the NMPA touts as the “highest rates in the history of digital streaming,...
How Pentatonix Became Today’s Most Popular Holiday Act
Mariah Carey may have had the most popular song of the 2022 holiday season, but Pentatonix was its most-listened-to act. The five-person vocal group had 92 recordings in the top 10,000 holiday tracks and total consumption of 2.58 million song units, based on sales and streams from Nov. 4 to Dec. 22, according to Luminate — more than any other artist. While Pentatonix doesn’t have the same kinds of smash singles as Christmas-time mainstays like Carey, Andy Williams and Burl Ives, the group uses a combination of quantity and popularity to drive its seasonal success. Pentatonix’s top holiday track, a cover of Leonard Cohen’s “Hallelujah,” ranked No. 43 and accounted for about 10.5% of its total track consumption. Its cover of the David Foster-Jennifer Thompson-Jenner song “Grown Up Chr...
LiveOne Podcasting Division Files With SEC for Spinoff
Music streaming company LiveOne’s podcasting division, PodcastOne, filed an S-1 with the Securities Exchange Commission on Tuesday as a prelude to becoming a standalone, publicly traded company. LiveOne has set a record date of Jan. 16 for PodcastOne’s special dividend to LiveOne shareholders of record. The spinoff “will meaningfully enhance our industry market perception,” the company wrote in the filing, “thereby providing greater growth opportunities for us than our consolidated operation as a private subsidiary of LiveOne.” LiveOne will remain PodcastOne’s majority shareholder and will distribute approximately 6.2% of outstanding shares to LiveOne shareholders. LiveOne will retain 86.3% of outstanding shares. The remaining shares will be held by holders of bridge notes as well as...
Krampus is coming to the crypto space this holiday season
’Twas the weeks before Christmas on a island far away, None could have foreseen crypto’s golden boy going astray. When politicians and firms took FTX‘s money with glee, Did they truly know the depth of one man’s duplicity? Imagine if you will, the exchange’s younger days, When business people showered the LoL player with praise. The markets were high, adoption was booming… How could we have seen the massive threat looming? “Come in and talk to us,” the SEC pled, As money flowed to agency and lawmaker instead. For many, there would be no Merry Christmas this year, Just a time for Krampusnacht to fill us with fear. “Assets are fine,” said the man whose hair was unruly, “Blame Binance — I was just doing my duty!” “I failed! I’m sorry! It wasn’t my fault!” “But seriously — what did you expect ...
Tory Lanez Found Guilty on All Counts in Megan Thee Stallion Shooting Trial
Rapper Tory Lanez has been found guilty on all three counts in the closely-watched trial over whether he shot Megan Thee Stallion in the foot, ending a nearly two-week trial over the July 2020 incident and setting the stage for a potentially lengthy prison sentence. The verdict was handed down by a jury in Los Angeles court on Friday (Dec. 23). Lanez was convicted on all counts: assault with a semiautomatic firearm; carrying a loaded, unregistered firearm in a vehicle; and discharging a firearm with gross negligence. He faces up to 22 years in prison. Upon the reading of the verdict, Lanez’s father, who was present in the gallery, began screaming. “This wicked system. Shame of all of you!” he cried out. In the course of the trial, Lanez’s defense team made their best effort to sow doubt ov...
Taylor Swift Fan Files New Lawsuit Against Ticketmaster, Live Nation Over Eras Tour Presale
Less than three weeks after two dozen Taylor Swift fans sued Live Nation over Ticketmaster’s disastrous presale of tickets to her Eras Tour in November, another similar lawsuit has been filed against the concert giant in California federal court. Filed Tuesday (Dec. 20), the class-action lawsuit, brought by Swift fan Michelle Sterioff, accuses Live Nation and subsidiary Ticketmaster of violating federal antitrust and unfair competition laws and “intentionally and purposefully” misleading “millions of fans into believing” Ticketmaster would prevent bots and scalpers from participating in presales for the tour. Similar to the lawsuit filed earlier this month, Tuesday’s lawsuit alleges that Live Nation and Ticketmaster, which merged in 2010, represent a monopoly in both the primary and second...
Sony Music Says Artists Have Withdrawn $50M Using Its Cash-Out and Real-Time Advance Features
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...
Megan Thee Stallion Shooting Eyewitness Offers Confusing Testimony, Pegs Both Tory Lanez and Megan’s Ex-Friend as Shooter
Sean Kelly, an alleged eye witness to the 2020 incident in which Megan Thee Stallion was shot, offered confusing and contradictory testimony Tuesday (Dec. 20) about what really happened, saying he never actually saw a gun — but also that he saw a man matching Tory Lanez’s description holding one, and that Megan’s former friend and assistant Kelsey Harris may also have fired. During the seventh day of the blockbuster trial, Kelly (a key witness for Lanez’s defense team) testified that when he first looked outside his home on the night of the incident, he saw Megan and Harris kicking and punching each other outside of a vehicle. “They were pulling their hair and hitting each other. It was quite violent,” he told Lanez’s attorney George Mgdesyan. Shortly after a man matching the description o...
