Record Labels
Anthony Martini Joins Slip.Stream as Chief Music Officer
Music industry veteran Anthony Martini has joined record label, distribution platform and music licensing startup Slip.stream as chief music officer and partner, it was revealed today. The announcement comes several months after Slip.stream acquired the brand and name of Martini’s indie hip-hop label, Commission Music, along with the recording contracts for Powers Pleasant, Big Havi, DJ Envy and DJ Holiday, in August. At the time, it was announced that Martini would join Slip.stream’s board to help guide the development of the company’s frontline record label. He will now lead that process, while also developing new music products across the intersection of gaming, content creators and brands. Martini joins Slip.stream from a brief stint at Royalty Exchange, where he was appointed CEO in M...
UK Streaming Reform Bill Put On Ice After House of Commons Debate
LONDON – The British government said Friday that it recognizes there is a problem around the low rates of pay some artists and performers receive from music streaming — and refused to rule out legislating change if the industry can’t work together to find its own solutions. “We want a fair streaming environment in which the U.K. music industry can thrive and artists are properly rewarded,” George Freeman, a Conservative government minister, said during a four-hour debate in the House of Commons over a bill that seeks to reform music streaming payouts. The Copyright (Rights and Remuneration of Musicians) Bill failed Friday to progress to the next stage of the legislative process as proceedings overran. That means the bill remains on the agenda of Private Members’ bills to be debated by MPs ...
UK Proposes Law Demanding Record Labels Pay Artists More for Streams
LONDON – The U.K. government has proposed a law requiring record companies to pay musicians and songwriters a bigger cut of revenue from music streams on platforms like Spotify and Apple Music, a move that would bring streaming closer in line with radio and television broadcasts in the country. The Copyright (Rights and Remuneration of Musicians) Bill was published Wednesday (Nov. 24) and will be presented to Parliament on Dec. 3. The Bill would obligate record companies to pay performers ‘equitable remuneration’ when music is streamed. A similar statutory right already exists in the U.K. for TV and radio broadcasts, where performers receive 50% of the revenues distributed by the collecting society PPL, with the rest going to record labels and publishers. If a version of equitable remunera...
Republic Records Names Wendy Goldstein, Jim Roppo Co-Presidents
Jim Roppo and Wendy Goldstein have been named co-presidents of Republic Records, the label announced today (Nov. 24). The two long-serving executives were named to their posts by label co-founders Monte and Avery Lipman. “Wendy and Roppo together are the ultimate dynamic duo,” chairman/CEO Monte Lipman said in a statement. “Their leadership spearheading groundbreaking releases and historic campaigns has captured the imagination of our industry while making a tremendous impact on popular culture. I’m thrilled to make this announcement as we embark on the next chapter of Republic Records.” Added Avery Lipman, “We can always rely on Roppo and Wendy to not only exceed expectations, but shatter them entirely. They’ve been integral to our success up to this point and will be even more crucial to...
Warner Music Sells $540M of Notes to Help Fund Three Acquisitions Worth $710M
Warner Music Group raised $540 million through a sale of 3.75% senior secured notes offering to help fund three acquisitions worth $710 million, the company announced Wednesday (Nov. 17). WMG will use the net proceeds and cash on hand for these acquisitions of “certain music and music-related assets,” or for “general corporate purposes” if it does not close on any of the deals, according to one of its SEC filings. The company has signed non-binding letters of intent for the three deals. WMG has signed non-binding letters of intent for the three acquisitions, which would have added additional revenue and adjusted EBITDA of $42.8 million and $34.4 million, respectively, to the company’s fiscal year ending Sept. 30, 2021. Those gains would represent a 0.8% increase to WMG’s $5.3 billion of re...
Chicago Venue and Label Owner Removed as President Following Hidden Camera Allegations
On Saturday (Nov. 12), NBC5 Chicago reported that two women filed a civil suit against Michael Johnston, president and CEO of Audiotree, Audiotree Presents, Lincoln Hall, Schubas and Tied House, along with his wife Kelly Halverson. The suit was filed by two recent graduates of DePaul University, one of whom was hired in Dec. 2019 as a house manager, child caretaker and personal assistant while the other has worked as a nanny for the couple’s friends. The women allege the couple set up hidden cameras in their Chicago home to capture nude footage. Tonight (Nov. 15), Johnston has been removed as president and CEO of Audiotree, Audiotree Presents, Lincoln Hall, Schubas and Tied House. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a ...
Matt Young Named President of UMG’s Bravado Merch Company
In his work at WMG, Young was a leading force in developing consumer engagement, marketing execution and revenue generation for the company’s artists. He brings over 20 years of industry experience in brand-building and artist services to UMG, with a focus on merchandising, e-commerce, retail, consumer product licensing, ticketing and customer relationship management. Prior to WMG Young worked at Bandmerch, where he served as GM of the New York office and as head of retail and A&R. Before that, he served in roles at Blue Grape Merchandising and indie labels Bush League Records and Earache Records. “I’m stoked to lead Bravado at this pivotal time and to build on the company’s reputation as the leader in our industry,” said Young in a statement. “Bravado is known for creating innovative ...
Streaming Is Reliable Revenue, So What’s Next for Warner Music and Other Labels?
In WMG’s earnings call on Monday, a word repeatedly came up when analysts probed for insights about the opportunities that await: metaverse. Thank Mark Zuckerberg for that. The term gained widespread attention since Facebook announced its name change its to Meta on Oct. 28 and detailed its plan to create a metaverse, a combination of augmented and virtual reality, where people interact with other users’ avatars in simulated worlds. Other tech titans share Facebook’s vision. Microsoft is also working on a metaverse for its Office products and Xbox gaming platform. Apple is reportedly working on a augmented reality glasses and “mixed reality,” a combination of AR and VR. WMG already has a metaverse play through a January investment in Roblox, a platform that hosts user-generated games. WMG a...
Timbaland Creates Bored Ape Yacht Club Metaverse Entertainment Brand
AIP’s Bored Apes will function similar to digital idols like Miquela, who acts as a front-facing digital performer for songs. Those who opt to purchase these AIP NFTs will gain access to exclusive perks, including merchandise, events, studio sessions, custom art and concerts, all contained within the metaverse. To bring these static NFT characters to life, AIP has enlisted the help of BRON Digital, which uses Epic Games’ Unreal Engine technology. This is actually the second bit of Bored Ape Yacht Club-related music news to arrive in just the past two days. On Thursday, UMG’s 10:22PM label announced it had formed the NFT “supergroup” KINGSHIP, which is also comprised of Bored Ape Yacht Club characters. Both projects arrive as interest in Web3 and...
Music’s Latest Supergroup Is an NFT Project With Cartoon Apes
In a press release, the KINGSHIP project is billed as a “landmark, first-ever exclusive agreement to create a metaverse group.” Under the initiative, the team behind 10:22PM — a Web3, creator-focused record label founded by Celine Joshua — will develop and release new KINGSHIP music and products. Akin to pre-existing virtual idols like Miquela (or perhaps even a band like Gorillaz, who hid their human identities behind animated characters), KINGSHIP will be the front-facing digital performer used to cultivate a community and fanbase around the music. Jimmy McNeils, an avid NFT collector who goes by the username j1mmy.eth, is supplying the Apes for KINGSHIP from his personal collection, including the rare Golden Fur and Bluebeam characters. The initiative t...
Maxwell and His Musze Enter New Label Partnership With BMG
Added BMG president, repertoire & marketing, New York and Los Angeles Thomas Scherer, “Throughout his career, Maxwell has continually and thoughtfully raised the bar in his craft. He is central to what the team is building and accomplishing in BMG’s R&B and hip-hop repertoire. Welcome Maxwell … you’re very much a part of our family now, and we’re excited to help write the future chapters of your success.” Maxwell, who will be presented with the Legend Award at the Soul Train Awards later this month, launched his professional recording career in 1996 with debut album Maxwell’s Urban Hang Suite. The critically acclaimed, Grammy-nominated album, which is certified two-times platinum, spun off the hits “Ascension” and “Sumthin’ Sumthin’,” certi...
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...
