business
Bill Ackman Firm Calls Lawsuit Focused on UMG Investment Effort ‘Fatally Flawed’
The failed deal put a spotlight on PSTH’s structure as a blank check company, formally termed a SPAC, or “special purpose acquisition company.” SPACs typically function like reverse initial public offerings: They raise money as a public shell company ahead of time, and then use those funds to acquire a private company and thus take it public. But PSTH took a slightly different route, using the money it had raised from investors in an effort to buy shares of UMG. Filed in August by an investor, the case claimed that PSTH was not actually a SPAC at all. Claiming the company had only purchased securities, the lawsuit said the company was more akin to a traditional investment firm, like a hedge fund. As a result, the lawsuit said PSTH ought to be regulated under a differ...
HYBE’s Quarterly Earnings Get Boost From Ithaca Holdings as BTS Concerts Await
Content featuring BTS and management fees from Ithaca’s clients helped generate record revenue in the third quarter. It took a coalition of songs, artists and merchandise — plus a big acquisition — to help Korean music company HYBE, the home of BTS, recover from a fourth straight quarter without touring revenue. BTS’ hit “Butter” and revenue from Ithaca Holdings, which HYBE acquired in April, helped the company post record quarterly revenue of 341 billion KRW ($288 million) in Q3, up 79.5% from the prior-year period, the company announced on Thursday (Nov. 4). HYBE held up remarkably well while the pandemic has brought its concert business, historically a major money-maker, to a complete standstill. Concerts accounted for 29% and 33% of HYBE...
Ariana Grande, Beyonce & More Vie for Hollywood Music in Media Awards: Complete Film Nominations List
Three films — King Richard, Don’t Look Up and No Time to Die — are nominated for both song — feature film and score — feature film. Britell is the only individual nominated in both of those marquee categories. He is nominated for scoring Don’t Look Up and for co-writing that film’s stand-out song, “Just Look Up.” Kris Bowers is nominated for scoring King Richard; Beyoncé Knowles-Carter and Dixson are nominated for co-writing that film’s key song, “Be Alive.” Hans Zimmer is nominated for scoring No Time to Die; Billie Eilish and Finneas O’Connor are nominated for co-writing that film’s title song. The HHMA added a new category this year, outstanding onscreen performance in a film. The category recognizes an ...
Bruce Springsteen In Talks to Sell Recorded Music Catalog to Sony Music
The Springsteen album catalog, which has racked up 65.5 million sales in the United States according to the RIAA website, and which includes the 15-times platinum Born In The U.S.A. and the five-times times platinum The River, still has plenty of firepower, as his music has generated 2.25 million album consumption units in the U.S. since the beginning of 2018, according to MRC Data. While Springsteen has long been associated with Columbia Records and Sony Music, he was among a handful of superstar artists like Garth Brooks, AC/DC, Pink Floyd and other Sony artists Neil Diamond, Bob Dylan and Michael Jackson who all managed to win back ownership of their recorded masters in the last decades of the 20th century. But now seems to be the perfect time for artists who own their copyrights to cas...
Stevie Wonder Brings Back House Full of Toys Benefit Concert
Wonder, who underwent a kidney transplant in 2019, last hosted House Full of Toys in 2018. The 25-time Grammy winner then welcomed a lineup of special guests that included Anderson .Paak and Ella Mai. On behalf of Wonder’s nonprofit organization, We Are You Foundation, concertgoers are asked to bring an unwrapped toy or gift to the holiday event to help children, people with disabilities and families in need. Tickets for House Full of Toys 2021 go on sale to the public on Nov. 5 at 1 p.m. ET via AXS.com. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users bac...
Jamie Spears Asks For ‘Unconditional’ End to Britney Conservatorship
“Jamie unconditionally loves and supports his daughter. Full stop,” Weingarten wrote. “As he has done for her entire life, Jamie will do everything he can to protect and care for her. For the last 13 years, that included serving as her conservator. Now, it means ending her conservatorship.” The filing is not quite as dramatic as it seems. Jamie has already been suspended as Britney’s conservator, and has already asked to end the conservatorship. A hearing is scheduled for Nov. 12, where it is expected that L.A. County Superior Court Judge Brenda Penny will do so. But it had previously been unclear the extent to which Jamie would leave unconditionally, including whether he seek stipulations or compensation, or whether he would seek to avoid turning over records to Britney’s attorney Mathew ...
H.E.R. Is Top Nominee at 2021 Soul Train Awards; Maxwell & Ashanti to Receive Special Awards: Exclusive
The Soul Train Awards, which recognizes the best in soul and R&B, will be taped at the legendary Apollo theater in Harlem on Nov. 20. It will premiere on Sunday, Nov. 28 at 8 p.m. ET/PT on BET and BET Her. As previously announced, Tisha Campbell and Tichina Arnold will co-host the show for the fourth consecutive year. The show will be special on two counts. This will mark the first time the show has been taped at the Apollo (or in New York, for that matter). It will also honor the 50th anniversary of Soul Train, which made its debut in October 1971. Maxwell will receive the Legend award, which has gone in recent years to Babyface (2015), Teddy Riley (2016), Toni Braxton (2017), Erykah Badu (2018) and Jimmy Jam & Terry Lewis (2019). “It’s an honor to be presented with the Legend awa...
Doja Cat & Adele in Billboard & VersusGame Matchups: Recapping the Latest Winners
Will Doja Cat have two simultaneous top 10s on the next Hot 100?Answer: No. Doja Cat has one top 10 on the latest Hot 100, with “Need to Know.” The song rises 11-9, becoming her fourth career top 10. Prior single “Kiss Me More,” featuring SZA, helped make way for her new top 10, as it dips 10-12, after hitting No. 3. As announced last week, Billboard and VersusGame have joined forces to bring music fans a one-of-a-kind, user-generated experience with games that test knowledge of pop culture for a chance to win prizes and monetize trend predictions. Billboard is hosting biweekly head-to-head challenges on entertainment and pop culture gaming app VersusGame, where fans can vote on their favorite artists and songs and wager on who will top the charts and more. In previ...
Ticketek Unveils ‘World First’ Integrated Mobile Ticket and Vaccination Check-In
The check-in upgrade gets its first proper consumer trial from this Thursday, beginning with the Kennedy Oaks Day at Flemington Racecourse, through a partnership with the Victorian government. With that particular experience, guests at Ticketek venues can verify their check-in and vaccination status at bag check, by way of a deep-link into the Service Victoria app. The one-stop will be rolled out across Ticketek venues in other Australian states in the coming weeks, a spokesman confirms, and concerts will come on line in due course. Ticketek’s upgrade is a timely one. Restrictions are currently being eased across New South Wales and Victoria, Australia’s two biggest states, after their respective populations nudged past the 80 per cent double-dose vaccination milestone. By hitting those bi...
Ed Sheeran Sprints to Lead on Midweek U.K. Albums Chart
Sheeran should keep his streak alive. His debut + (from 2011), x (2014), and ÷ (2017), all went to No. 1 in the U.K., as did his 2019 LP No. 6 Collaborations Project (2019). With = leading the chart update, and his track “Overpass Graffiti” ruling the singles chart blast, Sheeran is in pursuit of a rare chart double. In a midweek Top 10 stacked with new releases, former Verve frontman Richard Ashcroft bows at No. 2 with Acoustic Hymns – Vol. 1 (BMG), the 25th anniversary edition of Spice Girls’ Spice (UMC/Virgin) is at No. 3, and The War on Drugs’ I Don’t Live Here Anymore (Atlantic) begins at No. 5. All will be revealed late Friday. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you ba...
Rüfüs Du Sol Shines Atop Australia’s Albums Chart With ‘Surrender’
To nab the best-selling album in the land Down Under, “honestly, it’s mind-blowing,” comments the act’s drummer James Hunt. “To have been pipped at the post and debut at No. 2 with their last album, it makes this No. 1 debut even sweeter,” adds Dan Rosen, president of Warner Music Australasia. This leader “cements this incredible band as one of the great Aussie bands of the modern era,” Rosen continues. “We can’t wait to have the band back in the country soon for their amazing live show.” The Sydney outfit, currently based in the U.S., shaped Surrender during lockdown stints between Joshua Tree and Los Angeles. North American tour dates in support of the new album kicked off over the past weekend, and, in the weeks ahead, include a pair of headline shows at Banc of Califo...
How the Grammys Upgraded Its Voting System for the 2022 Awards
Through the voting portal, the Academy has increased the personalization of each user’s ballot. Voters can customize their ballot by clicking on the fields in which they choose to vote. That way, they can easily see and browse through the categories that are most relevant to them. Voters’ ballots now offer a search box to find the field, artist or category they are interested in. Using the search tool, voting members can more easily maneuver through the 22,000 entries on the ballot. The upgraded ballots offer more flexibility. Voters may select and de-select categories before they make their final submission. Voters are free to change their minds on which categories and fields they wish to vote in. The porta...
