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Radio Edit | 5.12.23

Radio Edit | 5.12.23

Radio Edit Team
May 12, 2023

This week we some key takeaways from Live Nation’s Q1 earnings call and a timely collaboration between Peloton and Ed Sheeran. Other stories include Block’s “terrible” Tidal deal and a look at what Hollywood’s sweeping cost-cutting measures could mean for the music synch market.

Top Stories

Four key takeaways from Live Nation’s Q1 earnings call

Speaking on Live Nation’s Q1 earnings call, leadership set an optimistic tone after the company saw revenue jump 73% yoy. While the ticketing giant is seeing “record level of activity across all markets,” CEO Michael Rapino addressed some issues and concerns with his shareholders. Some of these key points include:

Noting the demand from the secondary market, Rapino feels that the concert market is “dramatically underpriced.” With prices on the secondary market being nearly double that of the primary, LN feels that there is plenty of potential for ticket prices to rise.
In trying to maximize their ability to capture revenue from the entire spectrum of their customer base, Live Nation will look to increase their focus on premium offerings for concertgoers. As part of this, LN recently launched Vibee- a “music-led destination experience company that caters to fans through all-in packages that include such things as exclusive concerts in intimate venues, cruises and hotel takeovers.”
Noting their support of all-in pricing and cleaning up the secondary market, Live Nation isn’t worried about the impact of legislation proposed in the US. On the contrary, they feel that putting some regulations around these areas will improve their overall business.
In response to concern that there may not be enough new artists to support rapid growth in the concert market, Rapino feels that a globalization of today’s artists will keep people coming to shows. “We’re… seeing this encouraging new supply strategy where for many years, it was all about US- or UK-based artists that filled the charts and filled the stadium. This is the real breakout year where the world and the consumer are truly global. And now you can see artists coming from Latin America and Korea and becoming global superstars.” mbw

Peloton teams up with Sheeran for mental-health focused workout program

In their first ever original audio collaboration, Peloton has teamed up with Ed Sheeran for their Outdoor Walks program. Each of the classes in the series will feature music from his latest album Subtract with intermixed storytelling from Sheeran himself.

With the release timed for Mental Health Awareness Month, this partnership with Peloton Outdoor is meant to reach members beyond their home gym via a “musical journey through mindful and engaging, low-impact walks.” Each of the classes, which are available in lengths of 30 and 60 minutes, features the singer sharing personal anecdotes about the album and his own mental health journey.

“We’re embarking on a completely new way to collaborate with an artist with this drop,” says Gwen Bethel Riley, Peloton’s SVP of Music and Content Partnerships. “Ed Sheeran will bring his entire album to life with support from [our Peloton instructors] and take our members on a fully loaded musical experience.” Digital Music News

What Else Is Going On

Signings

PJ Harvey lands at Partisan Records

Elektra has signed Toronto’s ThxSoMuch

In partnership with Grey Area Music, Virgin Music has signed country singer/rapper David Morris

Jonas Group Entertainment has signed both Levi Hummon and MaRynn Taylor to management

Blue Raincoat inks British rock band Skunk Anansie

Sub Pop adds Australia’s Girl And Girl to roster

Dais Records has signed Swedish synth pop duo Kite

Ben Platt signs with Interscope; will also operate his own imprint

Reach The World Records, a jv of RCA, has signed BJ The Chicago Kid

Warner Music Latina and 300 Entertainment sign Maria Becerra

Streaming / Radio

Garth Brooks to launch SEVENS Radio Network through TuneIn. The network will include several country music-focused channels, all curated by Brooks

Judge dismisses shareholder lawsuit over “terrible” Tidal acquisition

Live / Touring

Building costs for Las Vegas’ Sphere soar to $2.3b

Label

Disappointing earnings report sees WMG’s stock fall 10%

Building a record label’s brand reputation in the digital age

Publishing

Garth Brooks to launch SEVENS Radio Network through TuneIn. The network will include several country music-focused channels, all curated by Brooks

Other

After 36 years, MTV News is no more. Launched in 1987, the outlet deeply impacted popular culture by covering world news through a Gen X lens.

A look at how recent cost-cutting measures across Hollywood could affect the music synch business

TikTok tests new “Work With Artists’ feature that connects creators with music artists through monetization program

Appointments / Departures

Appointments

Jem Aswad promoted to Music Executive Editor at Variety

Elektra has promoted Chris Brown (EVP, Elektra and Co-Head, Roadrunner), Johnny Minardi (Head of Fueled By Ramen, Co-Head of Roadrunner, and SVP of A&R at Elektra), and Katie Robinson (Head of Marketing, Elektra).

Mary Rahmani joins Songfluencer as strategic advisor

Exceleration Music hires former Spotify exec David Ecker as Label Development Manager

Kirsty McDonagh joins Various Artist Management

Departures

Mike Easterlin steps down as Elektra Co-President

SoundCloud’s Lauren Wirtzer-Seawood has left her position as Chief Content & Marketing Officer

Featured Releases

Beach Fossils / Seconds (S) / Bayonet

Spotify | Apple Music | Amazon Music

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Thirty Seconds To Mars / Stuck (S) / Concord

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