business
The Ledger: How the Industry Went From Discussing Fairness to Accuracy – And Why it Matters
The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online. What a difference a decade makes. Ten years ago, most music industry conferences played like long, geeky arguments between technology companies that said they represented the future of the business and labels and publishers that wanted that future to involve getting paid. At one memorable SXSW panel, independent artists and small label owners seethed over their inability to get YouTube to permanently remove their music from user-generated videos. At MIDEM in 2010, a year before Spotify launched in the U.S., Americans heard horror stories from European executives about the platform’s minuscule royalty rates for ad-suppor...
Young Thug Lawyer Alleges ‘Inhumane’ Conditions in Jail, Appeals for Release
On Friday (May 13), a lawyer for Young Thug filed an emergency motion with the Georgia Superior Court alleging that the rapper has been jailed in “inhumane” conditions and requesting he be granted an “expeditious” bond hearing or be placed in a “non-torturous” environment while behind bars. Explore Explore See latest videos, charts and news See latest videos, charts and news “Specifically, the State of Georgia, by and through its public officials, has detained Mr. Williams in dungeon-like conditions,” wrote attorney Brian Steel in the filing (Young Thug’s real name is Jeffrey Williams). Those conditions are said to consist of “solitary confinement/total isolation”; a “windowless cement compartment with only a bed and a toilet and an overhead light which remains on 24 hours per day, prevent...
Crypto donations fund ATVs and gas masks for Ukrainian military
Ukrainian officials have used funds from the crypto donation platform launched by the government to purchase supplies for the country’s military amid its ongoing war with Russia. In a Friday tweet, Ukraine’s minister of digital transformation, Mykhailo Fedorov, announced that the country had purchased five all-terrain vehicles, which “will come in handy for a challenging environment” — possibly referring to conditions near the front lines with Russia or where roads have been damaged or destroyed. Funds for three of the ATVs originated from Aid for Ukraine, a platform the government launched in March that accepts crypto donations “to support people in their fight for freedom.” Three ATVs for defenders are funded for crypto donations @_AidForUkraine, two more — supplied by the Minister of De...
Disney+ Surpasses Subscriber Growth Expectations, Gaining Traction on Netflix
It appears that Disney+ is one step closer to eclipsing Netflix as the top streaming platform. According to The Hollywood Reporter, Disney+ has surpassed Wall Street’s performance expectations from last quarter, adding 7.9 million subscribers to its platform. Wall Street only expected Disney+ to add 4.5 to 5 million new subscribers. While the subscriber count has been up, Disney fell slightly short on the expected earnings. Disney reported revenue of $19.2 billion USD falling short of Wall Street’s $20.1 billion USD expectation. Disney also reported an income of $3.7 billion USD. After this quarter, Disney+ now has 137.7 million subscribers in total, putting them ahead of Hulu and ESPN+. Disney’s media and entertainment distribution division also saw growth reporting a 9% increase in reven...
Naomi Osaka Announces Athlete Management Company, Evolve
Naomi Osaka and Stuart Duguid, her longtime agent, have officially launched their athlete management company named Evolve. According to reports, the company covers brand partnerships, investing, creating athlete-owned business and philanthropy, and marks the pair’s newest venture following 2021’s KINLÒ skincare line. “Evolve represents the evolution of not just my business career, but also the way athletes can control their destiny,” the tennis star said to Variety. “I’ve always thrived on pushing the boundaries and challenging the status quo. Stuart and I have been business partners for years now so it’s a very natural and inspiring move to make.” “Athletes have completely changed the dynamics of what’s possible in the corporate world. They are no longer just ambassadors for hire, but tru...
Major Labels Bolster Diversity of Music Teams With ‘A&R Academies’
LONDON — Growing up in the town of Watford, located 15 miles outside of London, Zara Stewart dreamed of pursuing a music career. But she felt she lacked the connections or background to make it a reality. “I assumed it was an industry where it was all about who you know,” says Stewart. “And I didn’t know anybody.” Believing music wasn’t a viable option, Stewart focused her education on languages, studying Spanish and Portuguese at Leeds University. After graduating in 2019, she briefly worked in fashion retail and medical recruitment, but still found herself pining for a job in the record business. Now Stewart, 25, has landed her dream job as a paid A&R intern at Sony Music UK imprint Dream Life Records. She joined the company earlier this year as part of its A&R Academy – one of s...
Disney+ Hits 137.7M Subscribers, Beats Wall Street Expectations
Disney once again beat Wall Street expectations last quarter in streaming, adding 7.9 million Disney+ subscribers, and suggesting that the company may be positioned to take a lead in what has become a cutthroat race to the top in streaming. While Wall Street expectations for Disney+ were varied, a midpoint expectation was 4.5 million to 5 million adds. Explore Explore See latest videos, charts and news See latest videos, charts and news Disney reported revenue of $19.2 billion and income of $3.7 billion, with earnings per share of $1.08. Wall Street expectations were for revenue of $20.1 billion, operating income of $3.3 billion, and EPS of $1.17. The EPS miss could be due to a change in tax regulations, which saw the company’s effective tax rate balloon from 8.8 percent a year a...
Bob Dylan’s Share of Traveling Wilburys Rights Purchased by Primary Wave
Primary Wave has acquired a few key rights from Bob Dylan‘s share of the Traveling Wilburys catalog, including master royalties and neighboring rights royalties from both of the group’s albums as well as their 2007 box set, the company announced Wednesday (May 11). Comprised of Dylan and fellow superstars George Harrison, Jeff Lynne, Roy Orbison and Tom Petty, the Traveling Wilburys’ formation was a happy accident. After the five-some gathered to record a B-side single with Harrison in 1988, they went on to record two full-length LPs: the three-times platinum Traveling Wilburys Vol. 1 and platinum-selling Traveling Wilburys Vol. 3. For their work, the Traveling Wilburys earned an Album of the Year nomination at the 1990 Grammys for Vol. 1, won the Grammy for Best Rock Performanc...
Prosecutors Defend Delay in Jam Master Jay Murder Charges, Citing Witness Intimidation
Federal prosecutors are firing back at claims that they waited too long to bring charges over the murder of Run-D.M.C.’s Jam Master Jay, saying at least part of delay was because the defendants themselves tried to “intimidate and silence potential witnesses.” Explore See latest videos, charts and news See latest videos, charts and news The new filing came a month after Karl Jordan, Jr. and Ronald Washington. argued that the long wait – they were charged in 2020 for Jay’s long-unsolved 2002 murder – means that they wouldn’t be able to properly defend himself against the accusations. In a response Monday, prosecutors said those claims “ring particularly hollow” because bringing charges in the famous cold-case was made even more difficult thanks to interference by the two accused killers. “Th...
FIFA and EA End Their Decades-Long Partnership
FIFA and Electronic Arts are ending their partnership after almost three decades of one of the most successful and noteworthy deals in sports. After many months of negotiations, FIFA and EA were unable to arrive at a decision that would continue to extend a partnership that has long bridged the world of football with gaming. The current deal will end after next summer’s Women’s World Cup, however, it was initially supposed to end after this year’s Qatar World Cup. Starting in 2023, FIFA gamers will instead see a new branding for the series, EA Sports FC. The new affiliation promises not to change the core aspects of the game, with many of the world’s famous football stars and clubs will still be playable due to a separate licensing deal. However, specific FIFA-controlled events including t...
Delayed crypto ETFs expected to launch on Cboe Australia this Thursday
Cboe Australia said that the downstream issues that had caused the delay have been resolved EFT Securities, in collaboration with 21Shares, will launch a Bitcoin and ETH spot ETF Cosmos Asset Management will debut a Bitcoin ETF Late last month, it was expected that Australia would debut three crypto exchange-traded funds (ETFs) that were set for listing on Cboe Global Market’s Cboe Australia. Two of the three ETFs were a Bitcoin and Ether spot ETF by 21Shares (in collaboration with ETF Securities), and the third was a Bitcoin EFT offered by Cosmos Asset Management. However, cutting it late, near the day of launch set for April 27, the Cboe exchange announced that the three ETFs had been delayed. Back on this Thursday Cboe Australia has now provided an update and says the three ETPs w...
NEAR Foundation partners with Kenyan blockchain community Sankore to build a regional hub
The regional hub will focus on blockchain innovation, talent development and community education in Africa NEAR Foundation CEO Marieke Flament said the collaboration presents an opportunity to work with local talent NEAR Foundation has announced the launch of a regional hub in partnership with Kenyan blockchain community Sankore. The Swiss non-profit organisation is responsible for managing the evolution and governance of the NEAR protocol, a smart contract-capable blockchain launched in 2020. The hub would be backed by a core team of four people and led by Sankore founder Kevin Imani. It would support blockchain innovation, educate the communities, and enhance talent development in the larger continent of Africa. The hub will also feature the Sankore Bounty ecosystem, have an incubation p...
