Radio Edit

2.10.2023

February 10, 2023

In this week’s newsletter we have TikTok's distro services expansion, pay reform for performing artists at SXSW, and HYBE America's latest acquisition. Other stories include a look at last Sunday's Grammy winners and big investments by Hipgnosis and Penske Media.

HYBE America acquires Quality Control in nine-figure deal

In their first significant move since naming Scooter Braun as the sole CEO of HYBE America, the South Korea-based entertainment company has acquired hip-hop label Quality Control in a deal reportedly worth north of $300mm. Already with a portfolio that includes SB Projects and Big Machine Label Group, the acquisition of QC allows HYBE to expand into the hip-hop space in a meaningful way.

Founded in 2013, Quality Control is home to artists like Migos and Lil Baby, and has amassed over 37b streams through 2022. Housing both a music label and sports division, “the move aligns with HYBE’s mission to build a global entertainment giant rooted in music with interests in other mediums and platforms related to entertainment, lifestyle and culture.” Variety

Open letter calls for SXSW to reform performers' compensation policy

While the festival has generated hundreds of millions of dollars for the city of Austin, the letter states that SXSW has maintained a decade-old pay structure where artists are given the option of receiving either a $250 ($100 for solo artists) performance fee or a wristband to attend the festival as a guest. International performers, however, are only offered the wristband option.

As costs associated with touring and applying for the festival itself rise, the non-profit organization spearheading this campaign is requesting the following policy reform:

  • $750 payment for all artists performing at the festival in an official capacity, both domestic and international

  • Complimentary festival wristband for all performers

  • No application fee

Penske Media Corporation, the owner of the festival, has stated that they “appreciate the feedback from the UMAW and will be doing our policy review after next month’s event.” pitchfork

SoundOn, TikTok's DIY distro service launches in Australia

The launch comes days after reports that TikTok users in Australia weren’t able to access music licensed by major labels for their videos. As the presence of TuneCore-distributed SoundOn grows, the limiting of music licensed by the majors is being seen as a way for the social platform to gain leverage over the majors heading into their next round of licensing negotiations.

Already available in territories like the UK, Brazil, and the United States, SoundOn allows artists to upload their music directly to TikTok, as well as distribute it to DSPs and social platforms. Along with support and a menu of promotional tools, SoundOn pays music creators 100% of royalties during their first year of release, and 90% after that in perpetuity. mbw

Other Stories

Check out the full list of Grammy winners here

Penske Media secures 20% stake in Vox Media following $100mm investment

Utopia sells music industry directory service ROSTR back to founders

In September, Lucian Grainge said 100k tracks were being added to streaming services per day. At top platforms like Spotify, it’s more like half

Hipgnosis purchases catalog of Tobias Jesso Jr., winner of the GRAMMYs first ever Songwriter of the Year award

YouTube fraudster accepts plea deal in $23mm royalty scam

While growth in vinyl sales slows, cassette sales appear to be making a comeback

Appointments / Departures

Appointments

Def Jam signs DJ Khaled's We The Best imprint and appoints the hitmaker as global creative consultant to Def Jam and UMG

Universal Music UK promotes Jennifers Hills and Sarah Desmond as co-Managing Directors at their in-house creative agency, Globe

Newly-launched Sony label Santa Anna hires Dave Anderson (General Manager), Carlos Ogando (VP, Promotion) and Derek Lee (CFO)

Departures

Concord CEO Scott Pascucci will step down from his post on June 30th, with current president Bob Balentine set to assume the position at that time

Charts

Featured Releases

Paramore / This Is Why (A) / Atlantic

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Bartees Strange / Tisched Off (S) / Sub Pop

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Chiiild / Antidote (S) / Avant Garden

Featured Job Posting

ROSTRUM RECORDSHead of MarketingLos Angeles, CA [mobile]LinkedIn