business
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...
Harvey Weinstein Found Guilty of Rape in L.A. Trial as Jury Reveals Mixed Verdict
Harvey Weinstein on Monday (Dec. 19) was found guilty of rape in a Los Angeles trial. The conviction further cements his plunge from one of the most influential producers in Hollywood to the face of the #MeToo movement. But the jury acquitted Weinstein of sexual battery by restraint against a different Jane Doe accuser. Jurors also couldn’t reach a decision on three sexual assault charges, including rape. This trial centered on testimony from four women, all known as Jane Does in court, who accused Weinstein of raping or sexually assaulting them from 2004 to 2013. Four others also testified that they were assaulted, though their claims didn’t lead to charges. In total, prosecutors called 44 witnesses to the stand to make their case against the former movie mogul. Weinstein faced two c...
How Leonard Cohen’s ‘Hallelujah’ Became a Christmas Hit Decades After Its Release
Since the business of Christmas music is growing so fast – it occupies five of the top 10 places on the Billboard Hot 100 this week – we are re-presenting some of our stories from Christmas past. This piece, about how Leonard Cohen’s “Hallelujah” came to be considered a holiday song, originally ran in 2019. The story of the song is recounted in the recent documentary Hallelujah: Leonard Cohen, a Journey, a Song. Leonard Cohen’s “Hallelujah,” with its ambiguous, imagistic lyrics about sex and spirituality, was once described by Jeff Buckley, perhaps the song’s most famous interpreter, as “the hallelujah of the orgasm.” So how did an a cappella version by Pentatonix get to No. 21 on the Billboard Holiday 100 in 2018 — after peaking on that chart at No. 2 in 2016...
These Two Former Billboard Staffers Produced One of Rap’s Biggest Christmas Hits
Since the business of Christmas music is growing so fast – it occupies five of the top 10 places on the Billboard Hot 100 this week – we are re-presenting some of our stories from Christmas past. This piece, about how two former Billboard staffers produced the holiday hit “Christmas Rappin’” for then-up-and-coming rapper Kurtis Blow, originally ran in 2019. Since then, in 2020, Robert Ford passed away. One groundbreaking Christmas hit didn’t just make the Billboard charts — it was produced by two former employees. In 1979, J.B. Moore and Robert Ford left the magazine to produce “Christmas Rappin’ ” for an up-and-coming rapper named Kurtis Blow. Released on Mercury Records, the single went gold, and Blow became the first rapper to sign a major-label deal. At Billboard, Moore ...
Revered Nashville Venue Exit/In Gets New Talent Buyer Under AJ Capital Partners
AJ Capital Partners, the new owners of revered Nashville music venue Exit/In, have named a new talent buyer for the iconic entertainment hub and plan to re-open the shuttered venue as early as this Spring after it temporarily closed in late November. Though there had been local speculation and concern that AJ Capital would turn to a large promoter such as Live Nation to book the 51-year old independent venue, the new owners are utilizing an in-house team with Dan Merker serving as Exit/In’s lead talent buyer. Merker, who oversees talent buying for all AJ Capital properties, has previously worked at Outback Presents, HUKA Entertainment and Tortuga Music Festival. “We are honored to carry on the legacy of this iconic venue and raise the bar for both the fan and artist experience,” Merker sai...
