business
James Brown, Godfather of Soul and Radio Station Owner, Among 2022 Radio Hall of Fame ‘Legends of Radio’ Inductees
James Brown was one of the 10 inaugural inductees into the Rock and Roll Hall of Fame in 1986. Now, he’s also a member of the Radio Hall of Fame. The Museum of Broadcast Communications in Chicago announced on Tuesday (Oct. 4) that Brown is among 10 “Legends of Radio” inductees into the Radio Hall of Fame for 2022. The award recognizes “the talents and efforts of air personalities, programmers and operators who contributed with greatness to the radio industry and have since passed away.” Brown is honored as a radio station owner of WJBE in Knoxille, Tenn. He bought the station in the late ’60s, changing its name to WJBE. (The call letters stood for James Brown Enterprises). Brown died in Atlanta on Christmas Day 2005. These 10 radio pros — eight men and two women — take their place in...
Tyler, the Creator’s Camp Flog Gnaw Festival Will Not Return for 2022
Tyler, the Creator’s Camp Flog Gnaw festival in Los Angeles is skipping 2022, his manager Chris Clancy tells Billboard, and is planning to bring the festival back next year. “It’s really not that deep,” says Clancy of the Goldenvoice-produced event. “Tyler toured all year and was busy with a number of projects. Reading the tea leaves and what’s happening with festivals coming out of the pandemic, we thought it would be best to come back next year.” This has been an unusual year for festivals, as large-scale events largely returned from the pandemic. The festival space was more crowded and oversaturated in 2022 than many expected as promoters created new events to take advantage of an uptick in ticket buying and fan demand at the beginning of the year for events like Coachella and Outside L...
Binance burns $1.8M in LUNC trading fees following community proposal
Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September. In an Oct. 3 update, Binance CEO Changpeng Zhao said the exchange had burned roughly $1.8 million worth of Terra Classic (LUNC) — formerly Terra (LUNA) — trading fees for LUNC/BUSD and LUNC/USDT spot and margin trading pairs. According to Binance, the burn included the equivalent of 1,863,213.47 Tether (USDT) — roughly 5.5 million LUNC. First LUNC burn, $1.8 million ish.https://t.co/b86RlCYqe3 — CZ Binance (@cz_binance) October 3, 2022 The exchange’s original announcement from Sept. 26 said the burns would be completed every Monday — making the next event on Oct. 10 — sending trading fees to a LUNC burn address. Many in the Terr...
Kim Kardashian Paying $1.26M to SEC Over Crypto Promotion
Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission charges that she promoted a cryptocurrency on Instagram without disclosing she’d been paid $250,000 to do so. The SEC said Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation. The SEC said Kardashian failed to disclose that she was paid to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax. Kardashian’s post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens. “The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of ...
BMG to Hit 1 Billion Euros in Revenues by 2024
BMG says it will start generating one billion euros in revenue starting in 2024, achieving a financial target the company set for itself a full two years ahead of schedule, according to a corporate presentation made last week. The record label and publisher improved its growth forecast thanks to strategic investments from parent company Bertelsmann and a strong performance from several recently acquired song catalogs, BMG chief executive Hartwig Masuch told a gathering of senior Bertelsmann executives. Meeting its billion-euro goal will make BMG one of the fastest-growing new music companies in the industry, executives said. Founded in 2008, BMG generated 663 million euros ($784.13 million) in revenues in 2021, a 10.1% increase from 2020. In the first half of 2022, the company reported rev...
Binance launches New Zealand-based offices following regulatory approval
Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country. In a Sept. 29 tweet, Binance said it was registered as a financial service provider in New Zealand, allowing residents to access services including spot trading, nonfungible tokens and staking. The move to the crypto-friendly Pacific nation followed regulators in Dubai, Abu Dhabi, Kazakhstan and Italy giving the green light for Binance to open an offshoot. “New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao. New Zealand! We are kiwis. https://t.co/UtxbVlvXFV — CZ Binance (@cz_binance) September 30, 2022 New Zealand lawmakers and regulators have largely not imposed strict...
The CD Turns 40: How the ‘Shiny, Tiny’ Discs Took Over
On Oct. 1, 1982, in Japan, when Billy Joel‘s 52nd Street became the first-ever CD to go on sale, two electronics giants had been pushing for years to switch from the beloved vinyl LP to the shiny new digital-optical disc. Sony in Japan and Philips in Eindhoven, Netherlands, had invented the compact-disc hardware, and they were aggressively lobbying the world’s biggest labels to provide the software – music – to go with it. Up to that point, the labels wouldn’t cooperate – not even CBS Records, Sony’s longtime partner for years before the electronics company bought it outright in 1987. “If there would have been rotten eggs available, they would have thrown them at me,” recalls Jan Timmer, then head of Philips Worldwide, of an Athens, Greece, music-industry conference where he attempted to i...
Defected Records’ New Owner Wez Saunders On Protecting The Label’s Legacy: I’m Not Here To Reinvent The Wheel’
On a late summer morning in London, Wez Saunders walked into work at the Defected Records headquarters and greeted his staff as he has for years. But on this otherwise normal day, something felt different: “Just for a split second,” Saunders recalls, “it was like, ‘Wow, I own this now.’” On August 23, Defected announced that its founder, Simon Dunmore, was stepping down as CEO, with Saunders, who has been with the label in various roles since 2014, acquiring the music company and all its subsidiaries. (Dunmore will stay on in a new role as A&R consultant.) Though Saunders had worked closely with Dunmore in running Defected’s day-to-day operations, there’s a pressure in taking over a label with so much history. When Dunmore launched Defected in 1999, its first release, Soulsearche...
Ed Sheeran Must Face Trial Over Accusation That He Copied Marvin Gaye Song
A federal judge says Ed Sheeran must face a jury trial over whether he stole key pieces of his “Thinking Out Loud” from Marvin Gaye‘s iconic “Let’s Get It On,” rejecting the British singer-songwriter’s efforts to toss out the long-running copyright case. Sheeran’s attorneys argued that the lawsuit – filed by an entity that owns a partial stake in Gaye’s famous 1973 song – was invalid because the combination of simple elements the singer allegedly stole was not unique enough to be covered by a copyright in the first place. But in a ruling on Thursday, Judge Louis Stanton said there was “no bright-line rule” for deciding such questions and that the pop star would need to make his arguments before a jury of his peers. The decision sets the stage for a blockbuster trial at a Manhattan federal ...
The Deals: Channel Tres Signs With RCA; AmazeVR Raises $17M
Producer and signer Channel Tres signed with RCA Records in partnership with Godmode. The label, which just put out Tres’ new single “No Limit,” will release his album Real Cultural Shit this fall. The “Compton house” singer is currently touring North America. VR concert platform AmazeVR, which recently produced Megan Thee Stallion‘s VR concert tour, raised $17 million in new investments, with an opportunity for additional investors to join the current fundraising round. Including the $15 million bridge round the company raised in 2021, AmazeVR’s current Series B raise stands at $32 million. The company plans to use the new funds to expand partnerships with artists, artist management companies, labels, publishers and agencies, along with hiring more AI engineers, Unreal Engine engineers an...
Phil Collins Catalog Sale Deal in the Works Now Includes Genesis Rights Too
A package of Genesis, Phil Collins and possibly Mike + the Mechanics music assets are said to be in the final deal stages, according to sources, but the name of the potential buyer is not yet known to Billboard. Explore See latest videos, charts and news See latest videos, charts and news Previously, Billboard reported that a package of Collins’ rights had been shopped for upwards of $200 million, according to sources. That package, sources says, has now morphed into a bigger deal that also includes all of the publishing for Genesis and possibly even Mike + the Mechanics, as well as their master recordings rights. Specifically, sources say the deal encompasses the artist’s share of the master recordings and publishing. In the case of Collins, that means a combination of artist royalties fo...
Pantera plans to raise $1.25B for second blockchain fund: Report
Dan Morehead, founder and CEO of Pantera Capital, reportedly said the hedge fund was planning to raise $1.25 billion for a second blockchain fund. According to a Sept. 28 Bloomberg report, Morehead said Pantera aimed to close the blockchain fund by May. The fund will reportedly invest in digital tokens and equity in an effort to appeal to institutional investors. “We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said the Pantera CEO, according to the report. Pantera Capital is seeking $1.25 billion for its second blockchain fund, founder Dan Morehead says https://t.co/H5AXy55hqa — Bloomberg Crypto (@crypto) September 28, 2022 Launched in 2013, Pantera was one of the first crypto funds in the United States at a...
