bbbiz
Those Slick Quarantine Band Performances Are Harder to Pull Off Than You Think
From Dua Lipa to Blue Oyster Cult to Joan Jett & The Blackhearts, bands have been figuring out how to perform remotely during the pandemic. Blue Öyster Cult has played its rampaging-beast classic “Godzilla” 2,270 times, in theaters and casinos, at state fairs and festivals — the first time at the Maple Leaf Gardens, in Toronto, on June 21, 1977, and the last time at Robins Theatre, in Warren, Ohio, on March 8. But until late April, the pioneering hard-rock band’s five members had never done it remotely from their homes, during quarantine, mixed together into a YouTube grid of separate rectangular boxes. “We basically treated it like a gig,” says Richie Castellano, the band’s guitarist and keyboardist, who produced the “lock-down” ve...
Ticketmaster President: Reps. Pascrell & Porter Are Wrong, Company Has Processed More Than $600M in Refunds
The following letter was submitted to Billboard by Ticketmaster President Jared Smith in response to a letter posted on Billboard earlier today by U.S. Reps. Bill Pascrell (D-NJ) and Katie Porter (D-CA). Last month Ticketmaster revealed its plan to offer refunds for all canceled and postponed Live Nation and AEG shows. Respectfully, Mr. Pascrell and Ms. Porter either misunderstand or elect to misrepresent the realities of our business and refund policies, as we outlined in our April 17 response letter to them. It is entirely disingenuous and flatly wrong to claim that we have “pointed the finger at others.” To reiterate, Ticketmaster is a platform that allows event organizers to sell tickets directly to consumers. The fact is, the money we need to refund fans is held by our clien...
Eventbrite Posts Big Losses in First COVID-Impacted Earnings Report, Reveals Three-Tiered Refund Plan
Eventbrite is carrying about $293 million in exposure from advance payouts to the creators on the system, official with the San Francisco-based ticketing company disclosed Monday (May 11) in its Q1 earnings report, sharing new details on plans to refund ticket holders and detailing the impact of the live music shut down on their bottom line. The top line numbers for the quarter were brutal as nearly every public event on its system had to be postponed or canceled, leading to a $146.5 million net loss for the quarter, down 489.66% from the previous quarter, equaling a $1.71 per share loss. The losses included $113.7 million of chargebacks and reserve increases and a $76.5 million increase in reserves “in anticipation of potential future chargebacks and refunds,” according to the compan...
SiriusXM CFO Says Satellite Radio Faces Uncertain Coronavirus Impact
Even if people aren’t commuting in their cars as much while they shelter in their homes during the coronavirus pandemic, satellite radio powerhouse and Pandora owner SiriusXM has yet to take a big hit to its bottom line judging by its recently released first-quarter earnings. But while listening of Pandora and SiriusXM offerings is up for stay-at-home consumers, David Frear, senior executive vp and CFO of SiriusXM, warned Tuesday that his industry faces an uncertain future. “I haven’t talked to anybody who has a good picture of what the recovery will look like,” he told the J.P. Morgan Global Technology, Media and Communications Conference during a session that was webcast. Frear said the COVID-19 crisis has driven new- and used-car sales down sharply, relative to y...
Songwriter Diane Warren Signs With BMG Ahead of ‘Historic’ New Album
BMG has signed Diane Warren. The music company will represent Warren for publishing and recording, and will release a collection of the legendary songwriter’s new works, performed and recorded by a starry lineup of guests, Billboard can confirm. Under the new arrangements, announced this morning, BMG will administer Warren’s entire songwriting publishing catalog (excluding the U.S. and Canada) under her Realsongs umbrella and release the album of new material, at a date yet to be announced. Several other projects are in the planning phase, a rep tells Billboard. “I’m thrilled with my new deal at BMG. I love the BMG team. They have hit the ground running,” Warren says in a statement. “There is so much already happening that I know this year is going to be ...
Tencent Music Revenue Hit New Highs in Q1 as Coronavirus Spread Through China
The Chinese music streaming company took a hit, but still grew earnings 27.4% year-over-year. Tencent Music Entertainment (TME), the Chinese music streaming company with 657 million monthly listeners, took a hit from the coronavirus pandemic in the first quarter but was able to grow both music subscribers and revenue. According to the company’s earnings report released Monday, Q1 music revenues leapt 27.4% year over year to $288 million while monthly average users grew 0.5%. Even though the pandemic led people to spend more time with entertainment, TME’s social media revenue rose just 3.3% even though 256 million people, a 13.3% gain, used its social app, WeSing. Still, music is a relatively low earner for TME; social media delivered an average revenue per media revenue per user of $15.65 ...
Get a Move On: Google Play Gets Busy Migrating Users to YouTube Music
As Google looks to phase out its music streaming service Google Play by the end of the year, it has begun the process of migrating users over to the Google-owned YouTube Music. Starting today (May 12), Google Play users can expect an email instructing them on how to easily transfer their music libraries, listening histories and playlists to YouTube Music. All users’ Google Play podcast subscriptions, on the other hand, will be moved over to the company’s free Google Podcasts app. Google says in a press release that users will continue to have access to both services until it officially kicks Google Play to the curb later this year. Paying Google Music subscribers will be automatically granted the equivalent tier on YouTube Music, at the same price. As it retires Google Play, th...
Universal Music Publishing Group Names Joe Fang Managing Director In China
Universal Music Publishing Group (UMPG) has named Joe Fang — a longtime media executive with a focus on global markets — its first-ever managing director, China. Based in UMPG China’s new Beijing headquarters, Fang reports to Andrew Jenkins, UMPG president, Australia and Asia Pacific Region. In his new role, Fang will oversee the publishing giant’s Chinese language roster, and lead the development of UMPG Hong Kong, working closely with Universal Music Group in China as well as local partners. UMPG recently joined the Music Copyright Society of China, and is deepening its cooperation with Chinese DSPs, tech companies and content providers. “Continuing with our efforts to be best-in-class around the world, we have put a strong and strategic emphasis on UMPG’s gr...
Event Safety Alliance Releases Reopening Safety Guide for Venues
A month into the pandemic, Steven Adelman and Jacob Worek of the Event Safety Alliance were on the phone, talking about how to reopen the concert business — eventually. “As I looked around the empty streets outside my condo, it became apparent that the small event spaces that were going to get to open first would not have the foggiest idea how to do that safely,” says Adelman, a Scottsdale, Ariz., lawyer who is the ESA’s vice president. So Adelman and Worek, the operations director, spent the past month crowd-sourcing more than 400 tour promoters, managers, Ticketmaster employees, caterers and Irish-fair organizers and released a 29-page guide on Monday. Given contradictory, confusing and evolving state stay-at-home restrictions — bars in Kansas are allowed to...
Endeavor Lines Up $260 Million Loan Amid Cost-Cutting Efforts
Endeavor has lined up a $260 million term loan to boost its financial flexibility amid the novel coronavirus pandemic, The Hollywood Reporter has confirmed. The financing deal adds to an existing $2.8 billion term loan at a time when Endeavor’s live events operations, which include Ultimate Fighting Championship, in which the firm owns a majority stake, and entertainment business have been hit by the pandemic. The Wall Street Journal first reported the additional $260 million loan Monday. Endeavor — the parent company of talent agency WME, modeling agency IMG and Professional Bull Riders — has launched cost-cutting efforts amid the pandemic, including layoffs, pay cuts and furloughs. UFC held its first of several fight cards without fans Saturday. &...
California Governor Allows Some Retail Reopening With Limits
Some Los Angeles County retailers can reopen with curbside pickup only — including stores that sell music, toys, books, clothing and sporting goods. California Gov. Gavin Newsom on Thursday issued the broadest loosening of his stay-at-home order so far, allowing some retailers to reopen but not have customers in stores. The guidelines were made “with an eye on turning the page and moving into a new phase in terms of our economic recovery,” Newsom said. The announcement was the result of improvement in battling the coronavirus. It moves California into the second phase of a methodical four-step process to full reopening. It covers only a sliver of retail businesses as well as manufacturers’ warehouses considered low risk for the virus. Stores that will be allowed to open with curbside...
Country Music Is Enjoying a Streaming Boom During the Pandemic: New Data
“It’s the soundtrack of our lives whether our lives are going great or going terribly,” explains Pandora head of country Beville Dunkerley. As Americans continue to shelter in place, they are turning to country music to keep them company in record numbers. Over the last two weeks, country music has enjoyed a streaming bonanza, with on-demand audio streams growing 10.7% to a record high 1.26 billion for the week ending April 23. The next week ending April 30, a new record was set as streams grew 14.3% to 1.3 billion. This is versus the baseline weekly audio average of 1.138 billion for the eight-week period Jan. 17 through March 12, according to MRC Data/Nielsen Music. A number of factors contribute to the rise. Among them are the release of new albums from Kelsea Ballerin...
