business
CPN president: Digital technologies efficient in sustaining social, economic development
The President and Chairman of the Council of Computer Professionals (Registration Council of Nigeria), Professor Charles Uwadia, has disclosed that digital technologies have proven to be efficient in sustaining social and economic developments. According to him, during the COVID-19 pandemic, digital technologies played an indispensable role in sustaining social and economic activities. He said though challenges and risks also emerged in the course of embracing various digital innovations but its applicability were proven to be efficient. Uwadia, who spoke at a virtual press conference, to unveil activities lined up for the forthcoming 2020 IT Professionals’ Assembly, with the theme, “Harnessing Digital Technologies for Social and Economic Recovery”, said the assembly which is the 15th edit...
Michael Rapino, Other Live Nation Execs Partially Forfeit Bonuses Due to COVID-19
Live Nation President Joe Berchtold and chief financial officer Kathy Willard also forfeited restricted stock today due to the revenue miss. A spokesperson for Live Nation told Billboard that regular stock and cash payments were also reduced as part of the adjustment. In April, Rapino announced he was reducing his salary to $0 as part of a cost-savings initiative at the company brought on by the pandemic. In 2019, the company’s compensation committee agreed to pay Rapino a $6 million cash bonus if the company achieved an adjusted operating income of $875.0 million, and between $6 to $12 million if he hit between 100% and 110% of the AOI target. Rapino ended up hitting 109% of his target AOI ($942 million) for a cash award of $11.4 million, which he deferred until the end o...
Justin Bieber, Ariana Grande & J Balvin to Reap Millions in HYBE Deal to Buy Ithaca Holdings
This isn’t the first time artists have received shares from HYBE. When the company went public last October on the Korean stock exchange, the seven members of BTS each got shares valued at $8 million. But sources say the equity being awarded to Ithaca’s artists is coming out of Braun’s stake. HYBE, the company behind powerhouse K-pop group BTS, said Friday (April 2) that it would pay $1.05 billion in cash and shares to acquire Ithaca Holdings, in a move designed to help the Korean company establish a strong U.S. presence in music and entertainment while also heightening its profile for American financial investors. According to terms of the deal, which is expected to close in about a month, ...
Nigerian army urges journalists to protect national interests
The Commander, Sector 2, Operation Lafiya Dole, Adamu Nura, has appealed to journalists to prioritise Nigeria’s national interest in their reporting. Nura made the appeal, on Friday, while hosting members of the Nigeria Union of Journalists (NUJ), who paid him a courtesy visit in Damaturu. “National interest is more important than any other interests, including public interest; because when you protect national interest, public interest will automatically be covered,” he said. He, therefore, enjoined journalists to always cooperate with security agencies, to protect the national interest in their reporting “and avoid giving any form of publicity to terrorists”. “Security is everybody’s business, without security nothing can be achieved,” he said. He added that the sector was ready to build...
How Def Jam’s Marisa Pizarro Found a New ‘Healing’ Purpose in Supporting the AAPI Community
The Billboard 2020 Women in Music top executive found herself and the rest of UTOPIAA switching gears to address the AAPI community’s needs. One way they sought to accomplish this was by organizing an AAPI Anti-Violence Town Hall to address the increased hate crimes and violence. The town hall, which was scheduled on March 17 after weeks of planning, happened to come just one day after three shootings in Atlanta-based spas killed eight people, six of whom were Asian American women. “We literally had [the town hall] scheduled for weeks, and then Tuesday happened, and we were in shock,” Pizarro tells Billboard. “The way that Universal stepped up was like, ‘OK, what do you guys need right now?’ And it was crazy that we had that plan...
Sony Music Acquires Top Brazilian Indie Label Som Livre For $255 Million
Founded in 1969 by music producer João Araújo, Som Livre initially focused on releasing soundtracks for Globo’s soap operas and continued to specialize in compilations. A decade ago, the label shifted its strategy to developing and managing artists and became the largest producer of music in Brazil, where local music represents almost 70% of total consumption. Today, the label is home to more than 80 artists, including massive sertanejo act Jorge & Mateus, forró star Wesley Safadão and Latin Grammy-nominated singer-songwriter Maria Gadú. Som Livre artists had five out of the top 10 songs in Brazil in 2020, according to the IFPI 2021 Global Music Report. They included Henrique and Juliano’s “Liberdade Provisória,” the No. 1 streaming track in Brazil in 2020. With the acquisition, Sony b...
New Live Music Platform ¡LatinUp! Offers ‘Cutting-Edge’ & ‘Innovative’ Content For Latinos: Exclusive
¡LatinUp! is a free streaming channel created by Cardenas Marketing Network (CMN), Amazon Music LAT!N, and Twitch. Cardenas Marketing Network (CMN), Amazon Music LAT!N, and Twitch have teamed up for the launch of the new content platform ¡LatinUp!, Billboard can exclusively announce today (April 1). The free streaming channel, which is marketed as a “premier live music destination to elevate Latin music, culture, and voices,” will offer music fans bilingual content including interviews and live performances of genres such as urban, pop, regional Mexican, and more, via Twitch. “What sets ¡LatinUp! apart is the cutting-edge and innovative real-time engagement opportunities on the Twitch platform between artists and fans globally,” Erik Bankston, head of branded entertainment, CMN, tells Bill...
The Deals: MOD SUN Signs With Big Noise, ADA Pairs With Billy Mann
Big Noise is a record label, publishing and media company offering artists the opportunity to develop and transform their artistry. The company manages artists across various genres like hip-hop, alternative and pop. Warner Music Group’s ADA Worldwide announced a partnership with Billy Mann and Benton James for their new label icons+giants. Mann, who is a Grammy-nominated songwriter, producer, entrepreneur and artist manager and James, an A&R executive and artist manager, will combine their digital marketing and A&R track record with ADA’s global influence, resources and connected artist services. “On behalf of everyone at ADA and Warner Music, we welcome Billy and Benton and the icons+giants team to the ADA family,” said Eliah Seton, president of independent music and ...
The Weeknd’s First NFT Drop Will Feature New Music and Limited-Edition Artwork
According to a statement announcing the NFT drop, the campaign will kick off with an open edition flash sale of three distinct visual pieces of art, each accompanied by a filtered snippet of an unnamed new song. An unlimited amount of these works will be available for a limited time, followed by a 24-hour auction of “an exclusive 1-of-1 piece of art” tracked by a second, full new song, which will be unfiltered. The winner of the second auction will have an exclusive on the song, which will not be released on any other platforms in the future. “Blockchain is democratizing an industry that has historically been kept shut by the gatekeepers. I’ve always been looking for ways to innovate for fans and shift this archaic music biz and seeing NFT’s allowing creators to be seen and heard mor...
Endeavor Files to Go Public (Again)
The company’s representation business (including talent agency WME, modeling agency IMG and production label Endeavor Content) generated 36 percent of its revenue in 2019. Endeavor’s events and experiences division (comprised of hospitality firm On Location Experiences and the IMG Academy, among other properties) generated 43 percent of revenue that year. And its sports properties (mixed martial arts league UFC, Professional Bull Riders and Euroleague Basketball) comprised 20 percent of 2019 revenue. “As challenging a year as 2020 was, it underscored the strength, creativity, and resilience of our people who mobilized time and time again in the face of overwhelming odds,” wrote CEO Emanuel in a letter included in the filing, adding: “As the global pandemic unf...
Grammy Museum to Salute Blue Note Records to Mark Jazz Appreciation Month
Other programs in April will feature veteran artists Richie Furay, Tower of Power and Marilyn McCoo & Billy Davis Jr. The latter couple won six Grammys as part of the Fifth Dimension and an additional award on their own with “You Don’t Have to Be a Star (to Be in My Show),” a No. 1 hit on the Hot 100 in 1977. Here is the Grammy Museum’s April schedule for Collection:Live. All programs feature interviews and/or performances: April 8Celebrating Jazz Appreciation MonthEmmet CohenJulian Lage April 22The Beat FarmersRichie FurayT Bear aka Richard T BearTower of Power April 29Adam Ezra GroupMarilyn McCoo & Billy Davis Jr.Michigander Spotlight Saturdays Series takeover by Elektra Music Group: April 3 – Chloe MoriondoApril 10 – LivingstonApril 17 – Brynn CartelliApr...
Feminist group tackles Pete Edochie over ‘misogynistic rants’
The Nigerian Feminist Forum (NFF) has described as unreasonable the comments allegedly made by celebrated thespian, Chief Pete Edochie during an interview he granted to BBC IGBO. In a statement by its Communications Officer, Angela Nkwo, NFF said Edochie in the interview “furthered his misogynistic rants concerning his views on Nigerian women in general.” NFF, therefore, called on Edochie to immediately retract the comments, which it said grossly misrepresented his pedigree as an elder in the Nollywood community. The women group also asked him to issue an apology for the gross misrepresentation and cause for concern he had provided for women to experience, tolerate and accept violence meted out to them by their husbands and partners. The statement read in part: “The Nigerian Feminist Forum...