business
Jay-Z, Meek Mill, Lil Baby & Michael Rubin’s Fanatics Acquire ‘True Classic’ Lifestyle Brand Mitchell & Ness
Jay-Z, Meek Mill, Lil Baby, Maverick Carter, Fanatics, the D’Amelio family and more have officially acquired iconic lifestyle brand Mitchell & Ness from former owner Juggernaut Capital Partners. The announcement came early Friday (Feb. 18). “Fashion is cyclical, but classics are forever,” Jay-Z said in a statement. “Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear. I’m proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation.” Explore See latest videos, charts and news See latest videos, charts and news Founded in 1904, Mitchell & Ness remains a go-to shopping hub for nostalgic sports jerseys, license...
Joe Rogan’s Spotify Deal Is Reportedly Worth Double What Was Originally Thought
Joe Rogan’s podcasting deal with Spotify was worth at least double previously believed, according to a report from The New York Times. On Thursday, The Times reported the streaming services’ exclusive arrangement with The Joe Rogan Experience was priced at “at least $200 million” for three and a half years, according to two anonymous sources — far exceeding the originally reported deal sum of more than $100 million. This puts the former Fear Factor host and comedian’s deal in the same ballpark as Spotify’s acquisition of entire audio studios — like Gimlet and Ringer — for slightly less than $200 million. The spending was all part of the company’s plan to become a premier destination for all audio content, not just music. Music, for the streaming service, has not proven to not incredib...
US Trade Rep Identifies 7 Online Platforms as Significant Threats to Music Creators
A U.S. government report highlighted the ongoing challenges that piracy poses to creators around the world, including from seven online platforms that pose significant threats in the music realm. The Office of the U.S. Trade Representative (USTR), in its 2021 Review of Notorious Markets for Counterfeiting and Piracy released Thursday (Feb. 17), identified 42 online markets and 25 physical markets that reportedly engage in or facilitate significant trademark counterfeiting or copyright piracy. The 2021 findings reflect a slight improvement over the 2020 report, which identified eight online threats to music creators. Last year’s list includes all the same sites listed this year in addition to Russian social media site VK. While VK is still listed in the 2021 report for its popularity in the...
Universal Music Group Partners With Curio for Future NFT Projects
Universal Music Group and NFT platform Curio will partner together on future NFT projects from UMG’s labels, subsidiaries and artists worldwide, the companies announced Thursday (Feb. 17). Curio, which has released over 75,000 NFTs since last February, will launch its first project through the agreement with Capitol Records artist Calum Scott in March. “With Curio, our labels will have a secure and dedicated platform to host these premium projects and provide new opportunities for collectors and fans from around the world to acquire unique pieces, inspired by their favorite artists and labels,” said Michael Nash, UMG executive vp digital strategy, in a statement. “UMG is focused on developing new opportunities in this space that place our artists and labels at the forefront, working to ens...
Red Bull Racing Team scores a $150M multi-year deal with Bybit exchange
The multi-year agreement defines Bybit as a Principal Team partner As the ‘new’ Tech Incubator Partner, Bybit will push for sustainability, diversity, and inclusion The Red Bull Racing Formula 1 team revealed on Wednesday that it reached a $150 million agreement with Singapore-based crypto exchange Bybit. The deal is expected to run for three years, with the funding split evenly at $50 million annually. According to the press release, the deal also marks the “single largest per-annum cryptocurrency venture” within the international sporting space. Bybit will join the team as a principal team partner – a newly-introduced level of partnership for the team. Among other activities, the exchange will also become the sole cryptocurrency exchange partner and Oracle Re...
Fireblocks completes First DAG acquisition to extend its payment offering
This is Fireblocks’ first-ever acquisition Fireblocks aims to enhance its payment offerings to acquirers and payment service providers Crypto infrastructure provider Fireblocks revealed yesterday that it had completed a deal to acquire Israeli crypto payments processor First Digital Assets Group (First DAG). The acquisition of the digital asset payments technology platform is the first-ever Fireblocks has completed. First DAG employees absorbed into the firm as part of the agreement Though specifics were not revealed at the time of the announcement, Fireblocks said that the deal was completed in cash and stocks. Two sources familiar with the matter have indicated that the price could be in the region of $100 million. Fireblocks plans to expand its current payment offering to enable p...
Recorded Music NZ CEO Damian Vaughan Announces Resignation
After nine years leading Recorded Music NZ, Damian Vaughan is ready to the leave the job. Vaughan has served as CEO of New Zealand’s labels association since June 2013, following a years-long stint as NZ Licensing Manager at APRA, the Australasian PRO. In a statement distributed Thursday (Feb. 17) to the local music industry, Vaughan admits it’s time to “move on and find my next challenge.” The past decade, he notes, has been a transformative one for the domestic industry and music fans, one that finds itself in a much better place. Vaughan’s recruitment to NZ’s labels body coincided with the dawn of the streaming age. In 2013, he explains, wholesale industry revenues were NZ$67.4 million and were comprised predominantly of physical sales and digital downloads. Fast forward to 2022, and “t...
Release of Bob Saget’s Autopsy Records Blocked by a Judge
A judge in Florida on Wednesday (Feb. 16) agreed with a request from the family of comedian Bob Saget and temporarily prohibited the release of any photos, video or other records related to the investigation into his death, saying that doing so would cause them irreparable harm. Explore Explore Bob Saget See latest videos, charts and news See latest videos, charts and news Saget’s wife, Kelly Rizzo, and his three daughters filed a lawsuit the previous day in Orlando, Florida, asking the state judge for a ruling that would prohibit the release of any records from the local medical examiner’s office and the Orange County Sheriff’s Office involving the probe into Saget’s death. Circuit Judge Vincent Chiu issued the temporary injunction, saying that Saget’s family would suffer “severe men...
Fidelity International launches Bitcoin ETP on Deutsche Boerse
Major financial services firm Fidelity International will be listing a Bitcoin exchange-traded product on the SIX Swiss Exchange and Germany’s Xetra digital stock exchange. According to a Tuesday announcement from Deutsche Boerse, a physical Bitcoin exchange-traded product, or ETP, from Fidelity International is now available for trading on the Deutsche Boerse Xetra and Frankfurt Stock Exchange under the ticker FBTC. In addition, the company reportedly said it planned to have the crypto investment vehicle listed on the SIX Swiss Exchange in the coming weeks. Fidelity Digital Assets will act as the custodian for the physically-backed Bitcoin (BTC) ETP, which will be centrally cleared with global exchange Eurex Clearing. The ETP has a total expense ratio of 0.75%. At the time of publication,...
Don’t Call It a Comeback (Yet): How 2022 Could Determine the CD’s Fate
Two years ago, the long-running New England comic book and music retail chain Newbury Comics made an unexpected change: They created more space for CDs. “It was right before the pandemic started, after the 2019 holidays,” Newbury Comics senior buyer Larry Mansdorf tells Billboard on the decision to increase their in-store square footage dedicated to CD space. At that point, U.S. CD sales were steadily plummeting — as they had been for a decade and a half — but Mansdorf saw clear evidence of growing interest in compact discs. “We reacted to the previous 18 months’ worth of sales data to see what people were responding to,” says Mansdorf. Newbury began a process of increasing their CD inventory by 13% across their 30 locations, making sure stores that were primarily selling vinyl records fea...
BMG Goes ‘Boom Boom,’ Acquires John Lee Hooker Music Assets
BMG and its partner FujiPacific Music have acquired the music publishing catalog of John Lee Hooker, the companies announced on Wednesday. In addition, BMG alone has purchased his recorded masters royalties and some of the late blues master’s recorded masters spanning from 1980’s Alone Vol. 1 through 2020’s Black Night Is Falling. Terms of the deals with Hooker’s estate remain undisclosed, but the publishing catalog includes such classic tunes as “Boom Boom,” “One Scotch, One Beer” and “Boogie Chillen’.” BMG says that while some of the Hooker rights will still remain with third parties, the German company will now take the lead role in promoting the artist’s catalog. “As the longtime managers of the John Lee Hooker Estate, JAM, Inc. was happy to help the Estate and BMG conclude this transa...
Splice Staffer Christina Lee Remembered After New York Murder: ‘Our Hearts Are Broken’
Christina Yuna Lee, a senior creative producer at Splice, was found dead in her Lower Manhattan apartment on Sunday after she was fatally stabbed by a stranger who followed her from the street, up six flights of stairs and into her home. As news spread of the horrific event, friends and co-workers took to social media to remember the 35-year-old. “Over the weekend out beloved Christina Lee was senselessly murdered in her home. Our hearts are broken,” said Splice in a company statement, posted to its social media channels. “Always dedicated to making beautiful and inclusive artwork, Christina is irreplaceable. As we start to process this tragedy, we ask that you remember Christina Lee as the magical person she was, always filled with joy. We wish peace upon her family in their grief.” A gra...
