Inside Track
Inside Track: Warner Music Group Closes In on Robert Kyncl as Next CEO
Former YouTube chief business officer Robert Kyncl is in serious talks to succeed outgoing Warner Music Group CEO Stephen Cooper, and sources familiar with the situation say his tech background has made him the frontrunner in the music group’s search for a new leader. One source says WMG has yet to make a final decision but adds it’s possible a deal could be reached within the next few weeks Talks are said to be progressing, and there’s a sense that Kyncl the frontrunner given his background and the desire for someone who is very plugged in to the business side of the tech world, says another insider. Other candidates remain in the running, says the source — SiriusXM president/chief content officer Scott Greenstein, Warner board member and Vice CEO Nancy Dubuc and former Pandora CEO Roger ...
Inside Track: Creator Power, Spatial Audio & the Metaverse Dominate Music Biz 2022
For the first time since the onset of the pandemic, the Music Biz conference happened in person in Nashville this month, bringing together industry figures from across the globe to banter about the various topics facing the business after two years of relying on tech and streaming to connect an increasingly-fractured landscape. One conversation that seemed to permeate both panels and interpersonal conversations at the convention was the expanding role of artists in their own marketing and release strategy, whether they are signed to a major or not. During panels like “The Future of the Artist Deal” and “Navigating New Strategies,” speakers waxed near-philosophical on the improved standing of artists in advocating on their own behalf, while also examining the pitfalls that come from this mo...
Inside Track: NFT LA Brings Web3 Networking IRL; Miami Music Week’s Big Return
The NFT | LA conference brought web3 networking into real life this week, taking over the Los Angeles Convention Center and surrounding downtown restaurants, bars and venue spaces with the city’s first-ever blockchain-focused gathering of this size. From March 29-31, official programming at the convention center included panels and keynotes covering music, gaming, art, fashion, cryptocurrency and more intersections of culture, commerce and emerging blockchain technology. Mark Cuban, Sandbox CEO Mathieu Nouzareth, Andrew Yang and Baron Davis were some of the big names speaking, as startups showcased their new products, patrons sported shirts with their own Bored Ape characters on them and frames for displaying those virtual non fungible tokens in your IRL living room took up a considerable ...
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...
Inside Track: RCA’s Top Two Execs Move West
A source tells Billboard the shift is in large part “because the creative community is in Los Angeles, including artist managers.” RCA had no official comment. With RCA employees still working from home during the pandemic, a source says there is no word on if there will be more shifts from the East to West coast. Mark Pitts, who was upped to president earlier this year, is based in New York. The company announced a number of other changes today, naming Jamie Abzug senior vp/head of publicity. Based in Los Angeles, she replaces Mika El-Baz, who holds the dual title of executive vp West Coast/ executive vp, publicity. El Baz is leaving at the end of this month, as is senior vp publicity Sarah Weinstein Dennison, who is based in New York. Both El-Baz and Weinstein Dennison have been with the...
Inside Track: How the Music Business Is Preparing to Return to the Office
Katovsky explains that BMG tested its return-to-work plan at its offices in Sydney, Australia, where COVID infection rates were low until recently. After surveying its global staff, Katovsky says that moving forward, the majority of BMG’s employees will be permitted to work from home two days per week. “We’re eager and excited to get back into the office, but we’re also pragmatic about that, and accept that we’ll have to make changes along the way,” he says. Meanwhile, a source says Sony Music has told its employees that, moving forward, the company plans to support more flexibility regarding working from home, and Triple 8 Management founder George Couri says the company’s employees, who are based in Nashville and Austin, Texas will have the option to work at home for part of the week. “A...
Inside Track: Leadership Shakeup at UMG Latin; KAABOO’s Future Up In the Air
Universal Music Latino is home to major stars like J Balvin, Karol G and Sebastian Yatra, with Kaminsky, a seasoned and respected executive, having had a hand in the regional and international development of all of them. “I’m thrilled to be a part of this talented team and looking forward to working together with our amazing roster of artists through the next phase, making Universal Music Latino even more successful,” said Kaminsky. “I want to thank UMG for this exciting journey, and for this new opportunity to continue making history for Latin culture.” In addition, Salomón Palacios, who has been at Universal since 2013, most recently as director of live and artist services division GTS, has been appointed senior vp of marketing & artist strategy for Univ...
Inside Track: UMG’s Potential US Investor, FTC Knocks Back Ticketmaster Probe
Asking around, one name keeps popping up: Liberty Media, the majority owner of satellite radio provider SiriusXM — itself owner of music streamer Pandora — and 33% of concert promoter Live Nation. Liberty also owns 5% of terrestrial broadcaster iHeartMedia and tried to buy 40% while iHeartMedia was in Chapter 11 bankruptcy. And despite concerns a larger stake would result in anticompetitive behavior, the Department of Justice approved Liberty’s request to increase its stake beyond 5% in July 2020. Liberty Media could take a piece of UMG and add intellectual property to a “full stack,” vertically-integrated media company. On paper at least, Universal could woo artists by offering exposure on Liberty-owned broadcasters and with concerts on Live Nation-run tours and festivals. It ...
Inside Track: UMG’s Executive Pay; Clive Davis Interviews Joni Mitchell
When post-employee benefits and share-based payouts are added, that total jumps to $132 million — almost double the $62.2 million paid to the executive team in 2018. According to the UMG website, the executive team consists of UMG chairman/CEO Lucian Grainge; executive vp Michele Anthony; chairman/CEO of Central Europe and Deutsche Grammophon, Frank Briegmann; executive vp and general counsel Jeffrey Harleston; executive vp and chief people and inclusion officer Eric Hutcherson; United Kingdom and Ireland chairman/CEO David Joseph; executive vp marketing Andrew Kronfeld; executive vp/CFO Boyd Muir; executive vp digital strategy Michael Nash; executive vp/chief administrative officer Will Tanous; and Universal Music Publishing Group (UMPG) chairman/CEO Jody Gerson. The financial data ...
