AEG Presents // Senior Marketing Manager – Festivals (London)

Ninja Tune // Social Media Coordinator (London)

Ambassador Theatre Group // Ticketing Operations Specialist (London)

Lex Records // Worldwide Retail Operations Manager (London)

EmuBands // Artist Relations Assistant (Glasgow/Hybrid)

Today's music business news

TOP STORY

Utopia "needs incoming funds" to clear debts

Senior sources close to the sale by Utopia Music AG of Sentric Music to Believe SA have confirmed that Utopia is waiting for “up to” €7 million in funds to be released from escrow. These funds will be released “on completion of paperwork”, some of which is “reliant on third parties”.

Believe has transferred all funds relating to the acquisition - as was reflected in regulatory filings for the Euronext Paris-listed company - but, as is common practice with corporate finance M&A transactions, a portion of the funds - understood to be “up to 15%” - relating to the purchase were held in escrow.

CMU is told that “everything is on course” to release the money but that there have been some delays to this process - understood to relate to delays by official bodies or third parties providing necessary documentation. The funds were expected to be released in June. As a result, there has been a significant knock-on effect on the finances of Utopia Music AG.

This came to light after Swedish technology news site Breakit reported that a status check with the Kronofogden - Sweden’s official register of debt - shows a new round of mounting debts at Utopia’s Swedish subsidiary, Utopia R&D Tech AB. These debts include money owed to tax authorities in Sweden and abroad, as well as unpaid bills to the company’s landlord and other service providers. These debts, say Breakit, are “over nine million kroner” - so likely somewhere around €800,000.

In the article, a Utopia spokesperson provides a statement which includes the line: “We are waiting for a final payment from a large deal that was closed last spring - the delay of which has created an unfortunate chain reaction with us - which will settle our temporary debts”.

To those familiar with recent events at Utopia it would be immediately obvious that the “large deal that was closed last spring” is likely to be Believe’s acquisition of Sentric.

There's a lot more to this story - including news that Utopia is currently trying to raise new investment. To read the whole article click through to the site.

ONE LINERS

21 Savage, Central Cee, Avenged Sevenfold & Pussy Riot + more

DEALS

Booking agency Wasserman Music has signed Central Cee for worldwide representation, with Wasserman agents in both the US and the UK repping the rapper.

Mexican artist Yng Lvcas has signed a deal with OCESA Seitrack, in partnership with Laele Records, to expand his reach worldwide, reports Billboard.

APPOINTMENTS

Sonos has appointed Deirdre Findlay as Chief Commercial Officer. She will officially take up the role on 16 Oct.

Dinesh Ratnam has been named Managing Director of Warner Music Malaysia. “We are THRILLED to have Dinesh on board”, says co-president of Warner Music Asia Jonathan Serbin. “His extensive experience, strategic mindset and passion for the industry make him a valuable addition to our leadership team. We have every confidence that Dinesh will play a vital role in driving Warner Music’s continued success in Malaysia”.

RELEASES

Avenged Sevenfold have teamed up with Pussy Riot for new single ‘We Love You Moar’. They are also selling a limited edition balaclava in aid of SOS North Caucasus, which supports LGBTQ people and their families the North Caucasus region of Russia.

Plain White T’s are back with new single ‘You Plus Me’. Says frontman Tom Higgenson: “‘You Plus Me’ is a song about finding that person who is just as weird and nerdy as I am. It’s our flaws and our uniqueness that brings us together. There’s kind of an ‘us against the world’ mentality in this song and I love that! We purposely left the recording very raw and stripped down to let that spontaneity and misfit charm shine through”. New album ‘Plain White T’s’ is out on 17 Nov.

L Devine has released new single ‘Slippin’ Away’. It is, she says, “my way of taking the piss out of my patterns in relationships. I protect myself a lot in my songwriting by being self-aware and making fun of myself before anyone else can. It’s a tongue-in-cheek love song about smothering someone with love so much that you push them away”.

The Last Dinner Party have released new single ‘My Lady Of Mercy’. “We are expanding the world of The Last Dinner Party to encompass a darker, heavier atmosphere”, they say. “The lyrics explore the anguish of a teenage crush that can only be described through the bloody, carnal language of religious experience, as the soundworld takes cues from Nine Inch Nails, PJ Harvey and Roxy Music”.

Daisy The Great have released new single ‘Time Machine 2’, featuring Illuminati Hotties. “’Time Machine 2’ is the evil twin sequel to our song ‘Time Machine’ from our 2022 record ‘All You Need Is Time’”, explain the band. “We’ve always had a dream to make a grittier, faster version of the song, so when we got the opportunity to collaborate with indie punk legend Sarah Tudzin of Illuminati Hotties, we knew it would be the perfect moment to realise that vision”.

Daniel O’Sullivan has released new single ‘Sybil’s Leaves’. “The song is about the song itself, which often acts as a vehicle for some otherwise unforeseen event in one’s life”, he says. “A song can be an oracle, a crystal ball, a rune to be cast. The shape and meaning of the song are initially obscure which makes the pursuit of its significance irresistible”.

Use Knife have released new track ‘Sowieso Fucked’. It’s their first new music since the release of debut album ‘The Shedding Of Skin’ last year.

GIGS & TOURS

21 Savage will play the O2 Arena in London on 20 Nov - his first ever UK show. Tickets will go on general sale on Friday.

The The have announced UK tour dates in September 2024, including a performance at London’s Alexandra Palace on 28 Sep. Tickets go on general sale on Friday.

LIVE

Travis Scott ticket resellers set to lose thousands following failed buyers club bet

Ticket resellers in the US are facing huge losses on passes for upcoming Travis Scott shows, after demand dipped when a second wave of tickets was released on the primary ticketing sites.

The number of people buying tickets for these shows with the intent of reselling them was seemingly higher than normal because of the intervention of a credit card buyers club. According to 404 Media, a wave of ticket purchases was coordinated by the PFS Buyer Club.

Organisations such as this ask their members to buy up in-demand limited edition items where there are restrictions on how many units each purchaser can buy from an official source. The club then reimburses its members for each purchase, often with an additional commission fee.

PFS has operated almost exclusively in buying up rare coins from the US Mint for the last decade, but has recently moved into secondary ticketing. Using thousands of real people in this way gets around the technical measures employed by primary ticketing platfroms that are designed to stop ticket touting bots from hoovering up large numbers of tickets.

Having recently run a campaign to buy up Olivia Rodrigo tickets it has emerged that PFS also asked members to buy tickets for Travis Scott’s ‘Circus Maximus’ tour in the US. PFS told members that it would reimburse all money spent on the tickets, as well as paying a $25 commission.

Initially, this seemed like a shrewd move, with the dates - set to begin later this week - selling out. However, when a second wave of tickets was made available, demand was not so high and many dates still have seats available. This leaves resellers with no option but to list their tickets for sale at a loss.

PFS has reportedly reneged on the offer of a $25 commission and told members that it stands to lose over a million dollars on the failed bet - possibly enough to put it out of business entirely.

In some cases, it seems that PFS members are still in possession of the tickets themselves and may lose all of the money they spent on them - amounts in the tens of thousands of dollars for some - on what was supposed to be a risk-free deal.

Scott is, of course, one of the biggest artists in the world. However, the tour is his first outing since the 2021 Astroworld tragedy, which may have some bearing on demand for his live shows.

APPROVED: SHELF LIVES

“Everything is fucked”, pronounces Shelf Lives’ Jonny Hillyard on the duo’s latest single ‘All Grown Up’, which should give you a pretty clear image of them and the song. Completed by vocalist Sabrina Di Giulio, they mix dark humour and disappointment into an electro-punk sound.

On ‘All Grown Up’, they run headlong into a Le Tigre-esque verse before pulling back to something more soulful, sedate and, well, grown up in the chorus. Following reminders to “take your meds”, they rip straight back into it, gleefully lamenting the reality of adult life.

“With ‘All Grown Up’ we’re offering listeners a relatable journey that explores the nature of personal growth, self-acceptance and the complexities of navigating societal expectations”, they say. “‘Growing up’ is challenging, no matter the specifics”.

“You can’t escape the societal pressures that inevitably shape your identity”, they go on. “You can end up being on auto-pilot, where you may feel like you're going through the motions without truly being present or connected to your own desires and passions. You get pushed into an internal and external battle of pursuing your authenticity vs conforming. It gets crowded when you step in line but we’ve been socialised to believe that it gets lonely standing out from the crowd”.

There’s more where this came from on Shelf Lives’ electrifying new EP ‘You Okay?’, which is out on 26 Oct. Currently supporting Snayx on a UK tour, the duo will play their own headline show at the Sebright Arms in London on the day of the EP release.

Watch the video for ‘All Grown Up’ here.

LEGAL

Cardi B defamer will still owe damages despite bankruptcy

The YouTuber who defamed Cardi B cannot avoid paying millions of dollars in damages that she still owes by declaring herself bankrupt.

A judge last week ruled that relevant laws mean that, even as YouTube Creator Latasha Kebe goes through the bankruptcy process, the damages debt should not be impacted.

Cardi B - real name Belcalis Almanzar - sued Kebe over various claims she had made in her YouTube videos. The rapper always denied all the allegations that Kebe had made and told the court that false rumours spread by the YouTuber had had a negative impact on her mental health.

A jury found Kebe liable for defamation in January last year, awarding Almanzar nearly $4 million in damages. Of that, Kebe was personally liable for $3.4 million, while the remaining $500,000 was due to be paid by her company.

After an unsuccessful appeal of that ruling, it emerged in May that Kebe had filed for bankruptcy, claiming in legal papers to have assets totalling just $58,595. That raised the question as to whether Almanzar would ever see any of the millions in damages she was still owed.

However, according to Billboard, the rapper's lawyers argued that, although the relevant bankruptcy laws allow insolvent people to escape certain debts, they do not shield those people from being liable to pay monies owed for "willful and malicious injury". This exception, they said, should apply to Kebe “spreading false and defamatory statements” that were intended to cause harm.

Kebe's legal team didn't really seek to counter that argument and last week a federal bankruptcy judge agreed that the liability for the $3.4 million damages bill will remain unaffected by the bankruptcy process. Whether Kebe herself can be held liable for the other $500,000 debt is still to be considered by the courts.

DIGITAL

Spotify adds new restrictions to its free tier in India

Spotify is restricting some of the features available on its free tier in India as it tries to convert more users in the market to premium.

Among other things, the changes mean that free users in India will not be able to rewind, repeat or play tracks in a manual order. In-app messaging will communicate the changes, with the hope - of course - being that some users will be motivated to upgrade to premium. Rather than move to a rival streaming service.

While ad-funded tiers on music platforms are obviously - at least in part - a means of upselling premium subscriptions to users, Spotify has also sometimes talked up its own free tier and accompanying ad sales operation as an important secondary revenue stream and, therefore, a key part of the business in its own right.

However, for the music industry, the priority has always been premium, where it makes much more money. Therefore labels and publishers are always keen to maximise the upsell potential of free tiers.

And while they recognise the value of free to hook in new customers, particularly in emerging markets, they are also keen to see services work hard to convert people to premium products, especially as markets mature. And that often involves adding restrictions to the free tier.

In India in particular, there have been some recent changes of relevance. A key regional service, Gaana, went premium-only last year. And the streaming service operated in the market by TikTok owner Bytedance - Resso - also switched off the free tier earlier this year.

The industry will watch with interest to see if the latest changes at Spotify in India result in an increase in premium sign-ups or a decrease in the service's overall user-base in the country.

LABELS & PUBLISHING

Independent publisher group sets out ethical guidelines for music-making AI

The Independent Music Publishers International Forum yesterday set out four ethical guidelines for the development and use of music-making generative AI. They were published as the trade group gathered for its Global Music Entrepreneurial And Creative Industry Summit in Spain.

Noting that AI is "here to stay" and "in many cases … will actually enhance our work and lives", IMPF President Annette Barrett said: “We should not fight these advancements, but it would be negligent to give tech developers free rein when it comes to the use of artistic human work - which carries its own irrefutable, intrinsic value - to enable machine learning".

In summarised form, the IMPF AI guidelines are as follows...

1. All interested parties in the field of AI application should comply with the basic tenets of intellectual property and copyright law.
2. Records should be kept of musical and/or literary works used in the machine learning process.
3. There should be clear differentiation and demarcation between human-created and AI-generated musical works.
4. Furthermore, there should be a delineation between assistive AI and fully generative AI applications.

A number of music industry organisations have now published statements setting out what they believe to be the obligations of technology companies training AI models with existing recordings and songs. Those different statements have made more or less the same demands, including around respecting copyright law, securing consent from copyright owners, and transparency.

The UK's Council Of Music Makers published its five fundamentals of AI last month. Those went a little bit further in demanding that the consent of individual artists and songwriters should be sought, even if the music-makers do not own the copyright in their music.

Whereas most of the other industry statements - including yesterday's IMPF guidelines - talk about the consent of the music-maker or the rightsholder being secured, possibly implying the latter could license rights they control to an AI company without getting the former’s approval.

A document setting out the IMPF guidelines in more detail is available here.

DIGITAL

YouTube adds podcasts in YouTube Music in the UK

YouTube is bringing podcasts into the YouTube Music app in the UK, having done so in the US earlier this year. It means users can consume podcasts within the YouTube ecosystem via what it calls a "listen-centric experience".

Plenty of people use the main YouTube platform to access both audio and video podcasts. However, for a medium that is predominantly audio, it makes sense to make podcasts available through the Google firm's predominantly audio app as well.

It may also bring a new audience to YouTube Music. The music service itself is premium-only, but podcasts will be available without a paid-for subscription. So that might result in more people using the app who could then be upsold a subscription to the main YouTube Music service.

As for why people currently accessing podcasts on the main platform would switch to the YouTube Music app, well, background and offline listening will be available to free users within that app.

On the main YouTube platform that functionality is only available on premium. And, with longer-from content that is more likely to be consumed on the move - like podcasts - background and offline listening are arguably more important.

Says Alison Lomax, MD of YouTube UK and Ireland: "We’re THRILLED to be launching podcasts in the UK on YouTube Music. Podcasts have soared in popularity in recent years among all age groups, particularly Gen Z users. With long-form, Shorts, VOD and now podcasts, YouTube is cementing itself as the platform for multiformat creators and ushering in a new era of creativity on the platform".

Currently, podcasters need to manually upload their content to YouTube but, the company says, from later this year they will be able to deliver their podcasts by providing an RSS feed, as is the norm with most other podcast platforms.

AND FINALLY

Pink says SpongeBob Squarepants song about scurvy is her biggest musical regret

Every artist has a song in their back catalogue they’re not keen on, for whatever reason. Maybe it’s the big hit everyone always demands they play. Perhaps the lyrics haven’t aged well. It could be that a collaborator later got cancelled.

For Pink, the “real mistake” in her career was putting out a song that, looking back, she just doesn’t like. Shame, because I think many fans would count her 2008 deep cut ‘We've Got Scurvy’ among their favourites.

The song was recorded for Pink’s appearance in an episode of season six of ‘SpongeBob Squarepants’, and was later stripped of much of that context when it appeared as a bonus track on 2009 compilation ‘SpongeBob’s Greatest Hits’.

Her feelings about the song emerged in a new interview with the LA Times, when she was asked to choose her worst ever single, to which she initially responded: “There’s been so many”.

She then selected ‘True Love’, a song about her husband Carey Hart, telling the newspaper that “it’s mean - Carey’s got thick skin, but I owe him a love song”.

“Oh wait”, she then said, as thoughts clicked into place, “I did put out that SpongeBob thing. ‘We’ve Got Scurvy’? I wish I never did that. That was a real mistake”.

Really though? Really? A song that riffs on one of her biggest hits ‘Get The Party Started’ with the line, “Let's get this scurvy started”? A song with the lyrics, “A pirate ain't worthy til he's got some scurvy / Since you've got your scurvy on / You're nervy when you sing that song”?

Maybe she’s just annoyed that she wasn’t a co-writer on the track and can’t take credit for its genius. She needs to embrace it. It needs to be a mainstay of her setlists. The fans will love it.

I mean, just have a look at this.