Record Labels
Denis Handlin Departs Sony Music After 51 Years
The bombshell news dropped Monday morning (June 21) Australia time, closely following another report published in the national press that exposes inappropriate behavior at the music major’s subsidiary. As previously reported, The Sydney Morning Herald has detailed allegations of discrimination, bullying and harassment within Sony Music Australia. Earlier in the year, the music giant terminated a veteran executive after an probe found he had engaged in misconduct with staff, details of which were documented by the SMH. As reported on the weekend, Sony Music has engaged an Australia-based external counsel to handle ongoing investigations. Handlin was not mentioned in any of the multiple SMH articles. As noted by its author Nathanael Cooper, “the publication isn’t suggesting Mr Handlin is acc...
Vivendi’s Universal Music to Sell 10 Percent Stake to Bill Ackman SPAC, Valuing Label at $40B
“As you can see from PSTH’s announcement, this investment represents a strong validation of UMG, our strategy, our people, our legendary catalog and our amazing roster of artists and songwriters,” UMG CEO Lucian Grainge wrote in a staff memo on Sunday. “And the fact that we now have, in addition to Vivendi, two committed investors — the consortium led by Tencent, as well as PSTH — is as powerful an endorsement as one could imagine from the investment and technology communities.” Grainge added, “On Tuesday, at Vivendi’s General Shareholders’ Meeting, shareholders will consider Vivendi’s proposal to distribute 60% of the UMG share capital and list UMG’s shares on the Euronext Amsterdam stock exchange. I will keep you updated on all these developments...
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...
Sony Music Beefs Up Podcasting Strategy by Acquiring Major UK Producer
Outside of podcasting, Somethin’ Else’s TV and social media business will be integrated into Sony Music U.K.’s 4th Floor Creative division, broadening the company’s ability to provide creative and commercial opportunities for its artists, labels and partners. In a statement, Kooker said that Sony Music’s podcast division “is key to our plans for a fast-paced expansion in the market, diversifying our creative abilities and providing a home for exciting content that will benefit millions of podcast-lovers around the world.” Since first getting into business together, Sony Music and Somethin’ Else have partnered on podcasts including David Tennant Does A Podcast With…, Power: The Maxwells, The Fault Line: Bush, Blair & Iraq and Cheat!. “Having collaborated with Somethin’ Else on a number ...
Gregory Porter Channels His Inner Chef on ‘The PorterHouse’ Cooking Series
“Like music, cooking is another way to make somebody smile,” says Porter, one of eight children. “Growing up, I knew singing songs for my mother made her happy. And whatever I needed to do to help prepare the food and cook made her happy too. I’m just trying to express that through the things that I love.” For Porter that includes giving back. Episode six centers around donating food to a local ministry and soup kitchen operated by his brother Dionne. In addition, the series’ sponsor Citi has pledged an additional donation to longtime partner No Kid Hungry to provide meals for U.S. families in need. The day after the season finale, Citi will host an exclusive, hour-long virtual event on June 17. It will open with an intimate Q&A featuring Porter before the singer takes the stage to per...
Eshy Gazit Launching New Label With BMG To Release Monsta X, Wonho
Along with Monsta X and the group’s former singer, Wonho, who launched a solo career in 2020, Gazit worked with BTS during that group’s early attempts to break through in North America. Gazit will remain a partner at Maverick, as well as president at Gramophone, an artist and brand development company that was acquired by LiveXLive Media last month. “Eshy has played a vital role in strategically developing the K-pop subculture as the new mainstream music not only in the US, but around the world,” says Thomas Scherer, BMG executive vp repertoire & marketing, Los Angeles. “His relentless passion, expertise, knowledge, and track record of success speaks volumes. BMG is proud to deliver exciting new K-pop music to fans around the world. Hallyu!.” Gazit confirms that Monsta X, the...
100 Years After Tulsa Race Massacre, 2 Albums Are ‘Unveiling & Spreading the Truth’ Through Music
Being released in conjunction with New York-based Isotopia Records, headed by Constance Hauman, 1921 … The Black Wall Street Music Project was executive produced by Fred Jones, Thornell Jones Jr. and Guy Troupe. Partners in the project include The Hille Foundation, Osage Casinos and Spirit Bank. Jones is the founder of One Tulsa LLC, whose divisions encompass broadcast, digital and print media, marketing, artist management and philanthropy. Jones, who envisioned the music project three years ago, has close ties to the Tulsa Race Massacre. His grandmother Maggie Jones was in Okmulgee, Oklahoma, 25 miles away from Greenwood, when the riot started. “I remember my grandmother saying they could see the smoke as the city burned for three days,” says Jones. “The massacre was about money and the e...
Sony Music Will Start Paying Royalties to Legacy Acts That Still Owe the Label Money
The letter states that Artists Forward will focus on “prioritizing transparency with creators in all aspects of their development.” It continues, “Through this program, we are not modifying existing contracts, but choosing to pay through on existing unrecouped balances to increase the ability of those who qualify to receive more money from uses of their music.” Qualifying artists and participants will be notified in the coming weeks. As a result of the new policy, these legacy acts can now use financial services available through Sony Music’s artist portal. These include a new real-time advance feature that allows artists to receive instant advances on projected future earnings. (The feature is currently available in the U.S. and UK, and will be rolled ou...
Executive Turntable: Atlantic Names EVP Black Music Promotion, WFUV Hires Rita Houston Successor
“Kevin literally grew up at this company,” said Atlantic chairman & COO Julie Greenwald in a statement. “From day one, he’s been a passionate advocate for our artists, who love him and his relentless devotion to their music and their long-term careers. Kevin’s played a pivotal role in taking our prominence in Black Music to new heights, and I’m thrilled to be able to announce this richly deserved promotion for one of our own.” “Kevin is one of the most accomplished and respected promo execs in the industry,” added Kyser. “He’s worked tirelessly to break countless records, and he’s earned the admiration of the entire Black radio community for his honesty and dedication. I know he’ll be an outstanding leader for our promo team, and we’re all looking forward to the great work he’ll be doi...
Rolling Stones, Tom Jones, Other Big U.K. Musicians Join Campaign For Larger Streaming Share
The letter’s signatories are calling for a government referral of the multinational corporations that wield “extraordinary power” over the music business to the U.K. competition enforcer, the Competition and Markets Authority (CMA), which can act against businesses engaging in anti-competitive behavior. The U.K. Parliamentary probe has seen major labels’ dominance of the market emerge as a central issue. The first stage of the inquiry concluded with government minister Caroline Dinenage saying she would support a referral of the three biggest music companies — Universal Music, Sony Music and Warner Music — to the CMA. The committee expects to publish their report next month before Parliament breaks for its summer recess, although a date has not been announced. Ministers will then have eigh...
How New Zealand’s Six60 Became the World’s Biggest Live Act This Year
Eden Park capped a string of major open-air shows in New Zealand, Six60’s second lap in support of their 2019 self-titled album. The band grossed $13.7 million and sold 168,761 tickets across seven shows in New Zealand in 2021, according to Billboard Boxscore. (Six60 played to another 10,000 fans at Cardrona Valley in Wanaka on Jan. 1; The pre-bought tickets were not included in official box office reports.) Having conquered their homeland, Six60 are now planning to take their touring juggernaut to audiences in Australia, the U.K. and Europe. “Every month we have a sit-down and try to figure out how to do something really big, to make a difference,” frontman Walters tells Billboard. “We’re continually trying to challenge ourselves.” A travel “bubble” connecting the lands Down Under op...
Who Is Bill Ackman, UMG’s New Anchor Investor?
PSTH is sponsored by three investment funds managed by Pershing Square Capital Management, the storied New York-based hedge fund. PSTH has $5 billion available to invest in UMG through a $4 billion IPO on Sept. 11, 2020, on the New York Stock Exchange, at $20 a share and an additional $1 billion investment by Pershing Square. In addition, Pershing Square purchased $1 billion of units, each worth one share of Class A common stock and one-third of a redeemable warrant, at $20 per unit. It can buy an addition $2 billion of units in private placements. The PSTH-UMG deal would be unusual because SPACs typically target companies that want to go public. The SPAC, nothing more than shell company, acquires the target in what’s called a reverse merger, thereby al...
