Record Labels
Beatles Royalties & Family Conflicts: We Read UMG’s 300-Page Prospectus. Here’s What We Found
In order to become a publicly traded, stand-alone company, Vivendi had to do an internal reorganization in 2020 to align the parameters of what would become Universal Music Group. As part of that, some of the liabilities directly assumed by Vivendi had to be transferred to UMG for the latter company to have control of all the music assets. It also had to assume the obligations and liabilities that came with them. One such Vivendi obligation that UMG had to take on was to provide security for royalty payments capped at $100 million euros to the Beatles, Yoko Ono and certain Apple entities. But that’s not surprising considering that the ownership of EMI, acquired in 2012, was directly under Vivendi, not UMG, so they had to do some internal asset a...
ARIA Board Strips Denis Handlin of His Icon Award
The trade body’s Icon Award is periodically presented at a VIP ceremony in Sydney, in the hours prior to the annual ARIA Awards. Just five ARIA Icons have been awarded. The first went to the late Mushroom Group founder Michael Gudinski in 2013, followed by Handlin, Sebastian Chase (2016), Roger Davies (2017) and Michael Chugg (2019). ARIA’s u-turn follows the Australian Broadcasting Corporation’s premiere Monday night (Oct. 11) of Facing the Music: The Sony Music Scandal, a 47-minute documentary which exposed the “culture of fear, harassment and bullying” in a workplace Handlin led for 37 years. The following day, trade body Q Music revoked the honorary award presented to Handlin at the 2020 Queensland Music Awards, in his hometown Brisbane. The documentary, noted QMusic CEO Kris Stewart, ...
Denis Handlin’s Honorary Award Is Revoked Following Explosive Documentary
“Following ongoing reports of systemic bullying, discrimination, and misconduct under Handlin’s leadership at Sony Music Entertainment,” reads a statement from Kris Stewart, CEO of QMusic, the organization “could not let this acknowledgement and celebration of Handlin’s career stand.” Those reports have been mounting-up in recent months, and reached a crescendo with the ABC’s Four Corners investigation, for which journalist Grace Tobin spoke with more than 100 current and ex-Sony Music employees as part of the broadcaster’s probe into bullying, discrimination and misconduct at the music giant. The report, notes QMusic’s Stewart, “laid bare the undeniable fact that the culture under Denis Handlin’s leadership at Sony came at significant human cost.” He continued, “toxic workplac...
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...
Ben Facey Exits Universal Music
An auto-reply from Facey’s email account confirms he is “no longer with the company” and directs inquiries to Jim Roppo, EVP/General Manager at Republic Records. Facey was understood to be the subject of an internal investigation, news of which first emerged in late August on Beneath The Glass Ceiling, the Instagram account that’s been holding the music industry to account for bad behavior. The reasons for Facey departure are unclear, and he has not been accused of any wrongdoing. A spokesman for Universal Music Group confirmed his departure from the company, and tells Billboard there is no further statement at this time. Roppo did not respond to requests for comment. The latest development follows the launch of an independent investigation at Universal Mu...
Neil Dominique Is Ready to Go From All-Star Manager to Top Label Owner
Interscope’s svp of A&R and creative director, Randall “Sickamore” Medford, seconds Wyskoarko’s thoughts and lauds Dominique for his commitment to improving daily: “It’s been amazing to watch Neil’s rapid ascension from Chairman’s assistant to entrepreneur and #JUSTAREGULARLABEL CEO. There’s absolutely nothing regular about his passion and ears. He’s starting off hot with Ryan Trey and Nia Sultana, But it’s only the beginning of a long relationship.” Dominique is looking to add more talent after St. Louis polymath Ryan Trey dazzled with his EP, A 64 East Saga, and Brooklyn singer Nia Sultana captivated listeners with her dulcet vocals, but outside the hip-hop and R&B spheres. “Don’t ...
Wannabe Everywhere: Spice Girls Partner with Universal’s Bravado for Merch and Licensing
UMG did not disclose financial terms for the deal. It marks the first time in two decades that the Spice Girls’ licensing rights across all channels have been assigned to a single partner. Bravado owner Universal Music Group holds the global rights to the Spice Girls’ recorded music catalog, which spans three studio albums — 1996’s Spice, 1997’s Spiceworld and 2000’s Forever – and 11 singles, although it doesn’t control their publishing rights. (Matt Rowe and Richard Stannard, who co-wrote many of the band’s biggest hits, including breakthrough hit “Wannabe,” are published by Universal Music Publishing Group, however). Later this month, Universal will release an expanded 25th anniversary edition of the Spice Girls’ debut album, Spice25, featuring previously unreleased songs, demos and mixe...
Warner Music Becomes Twitch’s First Major-Label Partner
Warner Music Group (WMG) is the first major recording company to partner with Twitch in a deal that will bring WMG artist channels, original music programming and more to the livestreaming platform. To start, WMG is launching artist channels for Warner Records stars Bella Poarch and Saweetie, plus Atlantic Records singer and producer Sueco, where they’ll share exclusive and behind-the-scenes content. Additionally, social media-focused digital media company IMGN — which WMG acquired last year — will produce a slate of original shows like “The Drop,” to discuss music news; “Freestyle Throwdown,” where rappers freestyle based on topics chosen by the audience; and “The One,” where guest artists perform the songs that influenced them. “...
The Weeknd, H.E.R. and Motown’s CEO Honored at First BMAC Music in Action Awards
That mission statement remained front and center throughout the nearly three-hour ceremony/dinner during which emotions ran high. The Weeknd, co-recipient of The Quincy Jones Humanitarian Award for his philanthropic support of various charities and organizations including COVID relief, Black Lives Matter and MusiCares, recalled the first time he met the industry icon. “He pulled up to one of my club gigs in Las Vegas; he’s one of the reasons why I started making music,” said the emotional singer, to whom Jones presented the award via videotape. “He said he’d wait for me to visit with fans first before we talked. He was teaching me the lesion that nothing is more important than people and giving back. This is the best award I’ve ever gotten in my life, I swear. I won’t take this for g...
Sony US Latin President Alex Gallardo Is Leaning Into Data and Diversifying Deals
Gallardo has been doing that by trying new things, both musically and commercially. Encouraging artists like Rauw Alejandro (“Todo de Ti”), Farruko (“Pepas”) and Camilo (“Kesi”) to venture outside of reggaetón has paid off with the biggest hits of their respective careers. And building out Sony Latin’s business intelligence department — which parses data to help inform A&R, marketing and sales strategies — helped identify Rochy RD’s “Ella No Es Tuya” as it was gaining momentum on Dominican independent label Vulcano Music. The Sony Latin remix hit No. 30 on Billboard’s Hot Latin Songs chart, and was an even bigger sensation in Spain and South America. With each step, Gallardo is keeping an eye on the future. “As a label, we need to reinvent,” he says. “Nowadays, artists can ...
Why UMG’s Public Debut Boosted Warner & Other Music Stocks Too
Demand for UMG shares may have helped two more music companies: the share prices of French music distributor Believe SA and U.S. music rights company Reservoir Media increased 3.1% and 11.6%, respectively, on Tuesday. Investors also appeared hungry enough for UMG to purchase shares of Pershing Square Holdings, which has a 10% stake in UMG, and drive its share price up 5%. Sensing an opportunity, WMG’s owner, Access Industries, sold 2.34 million shares to Morgan Stanley & Co. on Tuesday for an unspecified amount. WMG could benefit from the added liquidity to the market. Although the shares represent less than 0.5% of WMG’s outstanding shares, WMG’s float – shares available for trading – represent about 19% of its shares, according to multiple financial sources. (UMG says its float is 42...
Universal Music Group Stock Jumps in Stock Market Debut
Universal Music Group (UMG) management, led by chairman and CEO Lucian Grainge, has touted the business momentum and outlook of the label home of the likes of Lady Gaga, Justin Bieber and Taylor Swift. The music firm was a key growth driver of Vivendi’s first-half 2021 results, with its earnings soaring 38 percent. UMG’s earnings of 753 million euros represented more than 70 percent of Vivendi’s total first-half earnings of 1.07 billion euros. As such, UMG spin-off also means that Vivendi, led by CEO Arnaud de Puyfontaine, will lose its crown jewel. That is why analysts during a recent earnings conference call asked Vivendi management how it may support the company’s stock price. CFO Hervé Philippe has said that a stock buyback program was one option. UMG management has said it was bullish...
