business
Australia’s Frontier Touring Unveils New Leadership Team
A little more than a year after Mushroom Group founder Michael Gudinski unexpectedly passed away at age 68, the principals at Mushroom Group subsidiary Frontier Touring have unveiled a new leadership structure to ensure the “legacy, mission, and culture of Frontier is preserved and nurtured,” according to a press release. Frontier’s executive team will be comprised of four members of the current leadership team, all of whom have been elevated to new roles within the company: Dion Brant to CEO, Susan Heymann to CFO, Reegan Stark to chief marketing and communications officer and Andrew Spencer to chief commercial officer. The executive team will report to the Frontier Touring board, comprised of representatives from both AEG Presents — which formed a joint venture with Gudinski and Frontier ...
Radio Promotion Vet John Boulos Launches Consulting Firm
Veteran radio promotion executive John Boulos has launched a new consulting firm, JBoulos Music, it was announced Monday (March 21). The company will aim to develop and break new artists while also mentoring young music executives. JBoulos’ current clients include BlackBox Media Agency, In2une Music, Aware Records MGMT and unnamed major labels. Boulos most recently served as executive vp, promotion at the relaunched Arista Records for three years, where he oversaw all aspects of radio promotion for the label and built and led a multi-format national promotion team. Before exiting the role in June 2021 to spend time with his loved ones, he led campaigns for JP Saxe, including the singer’s Grammy-nominated duet “If the World Was Ending” featuring Julia Michaels. Before landing at Arista, Bou...
Tennis star Naomi Osaka becomes ambassador for crypto exchange FTX
Naomi Osaka, once one of the highest-ranked tennis players in the world, has become the latest figure in sports and entertainment to endorse crypto exchange FTX. In a Monday announcement, FTX said Osaka will be taking an equity stake in the exchange as well as receiving an undisclosed amount of cryptocurrency as compensation for her endorsement. According to the crypto exchange, the tennis star will be part of a “long-term partnership” aimed at bringing women into the space. “We have seen the statistics about how few women are part of crypto by comparison, which kind of mirrors the inequality we see in other financial markets,” said Osaka. “Cryptocurrencies started with the goal of being accessible to everyone and breaking down barriers to entry.” If @StephenCurry30 @TomB...
Hardwell to Close Out Ultra Miami 2022 After Four-Year Hiatus
Four years after stepping away from the EDM scene that made him a global star, Hardwell will take the stage again in Miami next weekend at Ultra Music Festival, Billboard has learned. The Dutch DJ-producer will close out the three-day festival as the “special guest” in the final main stage slot at 9 p.m. on Sunday, March 27, say three people familiar with the matter. Explore Explore Hardwell See latest videos, charts and news See latest videos, charts and news Hardwell, whose real name is Robbert van de Corput, rose to fame amid the hands-in-the-air commercial explosion of dance music in the U.S. from 2012 to 2018, headlining major festivals like Ultra and TomorrowWorld and holding residencies at top-flight venues like Hakkasan in Las Vegas. He produced a slew of high-energy progressive ho...
Paul Simon Shopping Simon & Garfunkel Recorded Royalties
A year after Paul Simon sold his song catalog to Sony Music Publishing, the legendary artist is now shopping his master recording royalties from his Simon & Garfunkel recorded works, multiple sources tell Billboard. The master royalties include the five Simon & Garfunkel studio albums that the duo recorded for Columbia/Sony starting in 1964, including 1971 Grammy album of the year Bridge Over Troubled Water. The duo has sold more than 100 million records, according to Sony. “The Sound of Silence,” “Mrs. Robinson,” “America,” “Homeward Bound,” “The 59th Street Bridge Song (Feelin’ Groovy)” and “The Boxer” are among the classic recordings on these albums. A source says Art Garfunkel is not selling his master recording royalties. Simon, one of the most revered singer-songwriters in mo...
The Ledger: Should Music Streamers Follow Netflix’s Lead on Account Sharing?
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. The music business should watch what Netflix is doing in select Latin American countries to bring in more revenue as painlessly as possible. In the next few weeks, Netflix will begin testing new two features in Chile, Costa Rica and Peru: “Add an extra member,” which allows subscribers to standard and premium plans to add up to two people they don’t live with for a few dollars a month; And “transfer profile to a new account” for people to take their profile information — namely their viewing history and recommendations — to a new account rather than create a new account from scratch. “We recognize that people have many ...
Inside Track: Labels’ Back-to-Office Plans Include Massages, Mediation, Free Lunch & Concerts
As COVID-19 restrictions ease, music companies are welcoming back employees with a wide range of healthy perks to lessen the stress of returning to the office after two years of working from home. Warner Music Group and publishing arm Warner Chappell offer staffers massages, reiki sessions and even sound baths in their Los Angeles, New York and Nashville offices, as well as complimentary lunches and smoothies. Baristas also man coffee stations to encourage face-to-face conversation and collaboration among returning workers who may have only seen each other over Zoom for months. There is also a full slate of virtual programs ranging from yoga, wellness classes and meditation. WMG’s recorded music division began welcoming staffers back in late February, while the publishing company and corpo...
Weekly Report: Russia’s largest bank can now issue digital assets, Optimism raises $150 million
Optimism aims to invest in hiring following the conclusion of a Series B funding round A FinCEN rep has said it is impossible to move large scale amounts of funds via crypto to avoid sanctions Meta could be legally charged for allowing misleading crypto ads on Facebook that falsely portrayed support by celebrity figures in Australia Sberbank has been licensed to issue and exchange virtual assets in Russia GameStop fans will by the end of July exchange NFTs for free on the retailer’s marketplace Ethereum L2 scaling solution Optimism raises $150M in a Series B funding round Optimism, an Ethereum layer two scaling solution, has completed a $150 million Series B funding round co-led by giant venture capital firms Paradigm Capital and Andreessen Horowitz (a16z) at a $1.65 billion valuatio...
Amazon Officially Closes MGM Acquisition Deal at $8.5 Billion USD
Nearly one year later, Amazon has officially closed its acquisition of MGM at $8.5 billion USD. Variety has reported that the deal was first announced last May as per Amazon, “The storied, nearly century-old studio — with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards — will complement Prime Video and Amazon Studios’ work in delivering a diverse offering of entertainment choices to customers.” The transaction was complete after the deal received clearance from the EU’s antitrust regulator. At the same time, the deal was also pending review from the U.S. Federal Trade Commission which gave Amazon a mid-March deadline. However, by early this week, the FTC has neither publically challenged or approved the deal. But insiders confirmed that the FTC does...
Nat King Cole Recordings Sold to Universal Music Group
Universal Music Group quietly acquired about 200 recordings by Nat King Cole from the iconic singer’s estate in January 2021, the company revealed Thursday (March 17), bringing all of his recordings under UMG ownership. The songs, recorded between 1961 and 1964, were previously licensed to Capitol Records — now owned by UMG — under a deal Cole negotiated following his rise to fame. His earlier recordings, also of about 200 songs, were all originally released on Capitol Records as well. The agreement was first reported by Forbes to be in the range of $10 to $20 million – a price range Billboard confirmed with a source familiar with the deal. Recordings included in the acquisition include such iconic songs as “Nature Boy,” “Mona Lisa,” “Unforgettable,” “The Christmas Song (Merry Christm...
MSG Names Lucas Watson President of Sphere Venues
Business brand veteran Lucas Watson has been tapped to lead Madison Square Garden Entertainment Sphere venues. Watson will officially join the company on March 28 as president, MSG Sphere. The first MSG Sphere venue – MSG Sphere at The Venetian in Las Vegas – is currently under construction and is scheduled to open in the second half of 2023. The final cost for the venue is expected to come in at $1.66 billion. With over 25 years of global experience accelerating growth and building brands, Watson is set to drive various aspects of MSG Sphere’s commercial strategy including go-to-market planning and bookings, which will feature a wide range of bespoke “only in Sphere” attractions, residencies, conventions and product launches. He will work closely with his colleagues across MSG Entertainme...
OVG360 Names Gregory A. O’Dell President, Venue Management
Venue management and hospitality company OVG360 named Gregory A. O’Dell president, venue management. OVG360 – a division of global sports and entertainment company Oak View Group – will welcome O’Dell to his new role in April after he departs his position at the helm of Events DC, the official convention and sports authority for the District of Columbia. He’ll report directly to OVG360 CEO Chris Granger. O’Dell, who brings over 25 years of experience to the role, will lead the venue management line of business within OVG360, overseeing venue operations for more than 230 properties across the globe, including stadiums, arenas, convention centers, performing arts centers, cultural institutions and state fairgrounds. “Greg is truly a unicorn in the live events industry in that his immense lea...
