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Business  ·  Business News  ·  CTS Eventim  ·  earnings  ·  Sphere Entertainment Co.  ·  Tencent Music Entertainment  ·  The Ledger  ·  Universal Music
Music Earnings Season Q1 2025 Highlights: Biggest Revenue Growth, Most Impactful Quotes & More

Now that all the major music companies have reported earnings for the quarter ended March 31, it’s a good time to reflect on the notable performances in the bunch. Most companies posted good results and showed that music is a reliable business during times of uncertainty, with nearly all trending in the right direction (though companies not mentioned here didn’t necessarily have something to crow about). But because companies naturally experience ebbs and flows — a slow new release schedule or heavy sales of low-margin vinyl records can wreak havoc on market perceptions — the results for any one quarter won’t tell the entire story.  
Below, I run down a few notable and/or interesting highlights from the latest earnings releases. For a full recap of earnings reports, refer to Billboard’s 2025 Q1 earnings roundup, which provides quick summaries of music companies’ earnings reports issued from April 29 to May 28.   Best top-line revenue growth: 22% by CTS Eventim 

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German concert promoter and ticketing company CTS Eventim’s top-line revenue got a boost from its 2024 acquisitions of See Tickets and France Billet, as consolidated revenue jumped 22.0% to 499 million euros ($525 million). Growth of the existing business was “slightly higher” than a strong prior-year period, CFO Holger Hohrein said on the May 22 earnings call. Ticketing revenue improved 16.9% to 214 million euros, a record for the first quarter. Retail tickets sold improved 42.1% to 40.5 million. Live entertainment revenue increased 24% to 292 million euros ($316 million), also a first-quarter record.   Best streaming growth, record label: 9.5% by Universal Music Group (UMG) 

Subscriptions helped offset a lackluster 2.9% increase in other streaming revenue, including ad-supported streaming, resulting in overall streaming growth of 9.5%. UMG executives have told investors they can achieve long-term recorded music subscription growth of 8% to 10% through 2028. While the figure bounces from quarter to quarter — and has fallen well below the target range — UMG landed above the high end of the target by achieving recorded music subscription revenue growth of 11.5% in the first quarter. The subscription growth was “driven primarily by growth in the number of subscribers, and to a much lesser extent, helped by certain price increases,” COO Boyd Muir said during the April 29 earnings call.   Best subscription growth, streaming platform: 16.6% by Tencent Music Entertainment (TME)  

TME’s subscription growth dominated the quarter for two reasons. First, average revenue per user improved 7.5% to $1.57, in part from the popularity of the Super VIP tier that costs five times as much as a normal subscription. Second, the number of subscribers grew 8.3% to 122.9 million. With more people paying a higher monthly fee, subscription growth rose to 17%. The ripple effects could be seen elsewhere: gross profit margin rose to 44.1% from 40.9% in the year-ago period, and the percentage of paying subscribers versus all music users improved to 22.1% from 19.6% a year earlier.   Most surprising new business segment: Tencent Music Entertainment’s physical music sales.  

In the first quarter, TME had a 10-day “head-start presale” of the Teens in Times album Beyond Utopia. TME also sold physical albums for One Hundred Thousand Volts by Silence Wang. For the K-pop artist G-Dragon, TME conducted a presale of light sticks and other products and offered limited-edition merchandise to buyers of his digital albums.   Most impactful executive quotes: Sphere Entertainment Co. Executive chairman/CEO James Dolan and Vivid Seats CEO Stan Chia 

Two vastly different companies provided contrasting takes on the state of live music demand. Amidst reports of falling international tourism to the U.S., Sphere Entertainment Co. CEO James Dolan downplayed concerns about visits to Las Vegas and attendance at the Sphere venue. Even if tourism took a hit, Dolan explained that “demand exceeds capacity, so we have room to absorb any issues from that.”  

On the other hand, Stan Chia, CEO of secondary tickets marketplace Vivid Seats, described a more challenging landscape. The quarter “fell short of our expectations,” he said during the May 6 earnings call. Chia blamed the shortfall on “robust competitive intensity” and “softening industry trends amidst consumer uncertainty.” What’s more, he added, “economic and political volatility has impacted consumer sentiment, and this uncertainty can also impact how and when artists and rights holders go to market.” A 14% decline in revenue, combined with Chia’s comments and the company’s suspension of full-year guidance, caused a 38% one-day decline in Vivid Seats’ share price.  

May 30, 2025

Business  ·  Business News  ·  country power players  ·  genre country  ·  magazine  ·  mental health
Chappell Roan Sparked a Conversation On Healthcare and This Nonprofit Responded: ‘Now’s the Time’

When Chappell Roan accepted her trophy for best new artist at the 2025 Grammy Awards in February, she asked a question that quickly went viral. The pop star used her speech to advocate for livable wages and health care for recording artists, concluding with the line, “Labels, we got you, but do you got us?”
Tatum Allsep, founder and CEO of the nonprofit Music Health Alliance, posted the speech to her Instagram account that night. “THIS!!!! Music Health Alliance has got you, your band, crew, team, songwriters, engineers, etc. #HealTheMusic,” read her caption.

“At first, I was jumping up and down and elated,” Allsep recalls, “and then, after I started reading the articles coming out, I was like, ‘Wait a minute. Chappell lost a record deal in 2020. We were here.’ We could have helped her in two seconds, but she didn’t know. And that’s on us.”

Trending on Billboard

By Feb. 13, Music Health Alliance and Universal Music Group partnered to launch the Music Industry Mental Health Fund, with the goal of providing mental health services to music industry professionals. The two organizations first started working together during the pandemic, creating a concierge program for UMG artists, songwriters and employees. Yet the Mental Health Fund is the latest step in Allsep’s decadeslong career as an advocate for health care in the industry, and on June 4, she will be honored with the Impact Award at Billboard’s Country Power Players event in Nashville.

“[Awareness] has got to come from the industry internally,” she says. “Just letting people know that we’re a safe space and we exist. All the funds we raise go right back into our programs and services. We want it to be that way, but we also want those that need us to know we’re here.”

How were the Music Health Alliance and UMG able to move so quickly following Chappell Roan’s speech?

We were already working with [UMG], and six months before the Grammys, we had started to talk about doing something in the mental health space. Chappell’s speech [made us say], “OK, now’s the time. This is what we need to do.” It was a great opportunity for the industry, for the label and for us to do something really meaningful at a time when people were listening.

You founded the Music Health Alliance in 2013. Why is it still necessary for an artist like Roan to give the speech she did 12 years later?

It’s not black and white. It’s a complicated issue. You get health insurance by being an employer of an organization — and you can negotiate anything, I understand that. But talking about Chappell specifically, if she was going to be an employee of UMG, they would own her creativity. And that’s suffocating for artists. We’ve got to prioritize their health, and that needs to be equally as important as making sure their vocal cords work when they’re going out.

What kind of uptick in artists reaching out to you did you experience following the formation of the Mental Health Fund?

For February, March and April, it was a 250% increase over last year. And that’s specifically for mental health.

The first Music Health Alliance fundraising event was hosted with Jack Clement for his “living wake” in 2013. What are more recent examples of working alongside an artist to create change?

Dierks Bentley is a great example. We went to college together and started in the music industry the same week. He was in the tape room at [The Nashville Network] and I was the receptionist at MCA Records in the promotion department, and we thought we had arrived. I think we were each making like $12,000 a year. And so, when I started Music Health Alliance, he was one of the first people that was like, “I support this.” About two years in, his team called and they were like, “Dierks wants to provide group health insurance for his band.” And I’m like, “I don’t know anything about group health insurance.” That was over Christmas break of 2016. By Jan. 1, we had a game plan, and by Feb. 1, his band and team were fully insured.

What are the goals for the Mental Health Fund in 2025 and beyond?

Where there’s a gap and a really serious need is for outpatient counseling. Vetting counselors is huge. You can’t just watch a 30-minute video and be music industry-informed. You have to understand the creative brain, and that is not the same. Once [an artist or executive] knows that they can trust us, we can help them for as long as they need.

This article originally appeared in the May 31, 2025 issue of Billboard.

May 30, 2025

Business  ·  Business News  ·  Executive Turntable
Executive Turntable: Big Machine Promotes Streaming Driver, Plus Hallwood Hoists a COO

It’s a better-late-than-never Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. Earlier this week, we revealed our annual list of executives driving the success of country music, and today welcomes a first-ever industry-wide Power List for our mates in the United Kingdom.
Big Machine Records promoted Rachel Burleson to senior director of streaming, recognizing her leadership and strategic impact since joining the label in 2021. In her new role, she’ll continue overseeing streaming initiatives for artists such as Tim McGraw, Carly Pearce and Midland. Burleson’s career began at Creative Nation after graduating from Belmont University, where she advanced to manager of records and management, focusing on artist development. At Big Machine, she rose from project manager to director of streaming and was named a 2024 MusicRow N.B.T. Industry Directory honoree. Executive vp and GM Kris Lamb praised Burleson’s platform relationships and influence on the label’s success since coming on board, adding, “Rachel continues to be a trusted voice in the room and a driving force behind our strategy.”

Trending on Billboard

Hallwood Media promoted Tal Meltzer to chief operating officer, based at the company’s West Hollywood headquarters. Formerly svp and head of A&R and business affairs, Meltzer will now oversee all operations and help drive expansion. Reporting to CEO Neil Jacobson, he has led the development of Hallwood’s record label, publishing and distribution divisions, and expanded its focus to include direct artist collaborations. With a background as both a producer and songwriter, Meltzer blends creative and business expertise, enabling him to scale A&R and marketing teams and boost artist development. “Tal’s deep understanding of both the creative and operational sides of our business has been instrumental to our growth,” said Neil Jacobson, CEO of Hallwood Media. “His leadership and vision will drive our continued success as we innovate in the music industry.”

Wasserman Music expanded its global hip-hop and R&B division with the addition of two new executives. Jazmyn Griffin joins as director on the global festivals team in New York, where she will focus on hip-hop and R&B festivals and help launch a new marketing arm. She brings valuable experience from roles at C3 Presents and Live Nation, where she helped develop major U.S. festivals. Tessie Lammle joins as a Los Angeles-based director and agent, representing a diverse roster of hip-hop and R&B artists. She previously spent nearly a decade at UTA, supporting artists and championing women in music. Wasserman execs praised both hires for their industry expertise and potential to “help fuel the surging growth of our Hip-Hop and R&B division.”

Pelle Eriksson, managing director of Border Music, is stepping down after over 40 years in the music industry. Starting in 1985 at Gothenburg’s FolkåRock record store, Eriksson helped transform it into Border Music Distributions AB in 1992. Under his leadership, Border grew from a local retailer into a leading Nordic indie distributor with offices in Oslo and Copenhagen. A breakthrough came in 1995 with its work to elevate The Offspring’s breakout hit “Self Esteem,” which topped the Swedish charts and helped launch Border into national prominence. Eriksson, a recent addition to Billboard‘s International Power Players list, has championed local and global acts, including First Aid Kit, Yung Lean, Nick Cave and Motorhead. He also played a key role in launching PIAS Nordic and oversaw Border’s acquisitions by Redeye in 2019 and Exceleration Music Group in 2023. His successor, Eric Andrén — Eriksson’s first hire as MD — will now lead the company. “It has been an incredible journey, and now that I am about to hand over, I remember (almost) only the fun times – all the people, the trips, the fairs, the artists, and of course – the records,” Eriksson reflected. “From the arrival of the CD to the digital boom and the vinyl revival, we’ve been there.”

Gutt Law, PLLC launched in Nashville to offer laser-focused legal services for the music and entertainment industries. Founded by Rachel Guttmann, the boutique firm combines legal expertise with industry insight to support artists, songwriters, and producers. Guttmann, a Tulane Law graduate and former partner at Taylor Guttmann, is joined by attorney Victoria Powell, a Belmont Law alumnus specializing in music publishing, and Morgan Brasfield, former Kobalt Music and NSAI executive, now head of operations. Together, they provide personalized counsel on creative rights, contracts and career strategy, guided by their client-first motto, “Go With Your Gutt.” Guttmann shared, ““I’m grateful every day to work with a team that’s as passionate about helping creatives succeed as I am.”

Frontiers Label Group appointed Tim Bailey as its new head of label for international. With nearly 20 years in the music industry, Bailey brings deep experience in both live and recorded music, a strong focus on artist development, and a record of commercial success. He began as a concert promoter in 2006, later producing major livestream events during the pandemic. At Earache Records, Bailey helped lead the label to a historic commercial peak, delivering multiple top-five albums in the UK, including a topper for Those Damn Crows. Founded in 1996 by Serafino Perugino, Frontiers has grown from an indie distributor in Italy to a major global rock label working with Megadeth, Def Leppard and more. Perugino praised Bailey’s forward-thinking leadership, asserting, “As we continue expanding our global footprint through exciting new imprints and artist partnerships, Tim’s leadership and vision will be a huge asset.”

Sara Yazdani was elevated to vp of PR and marketing partnerships at Creativ Company, where she oversees U.S. publicity for clients like 1stAveMachine, Ammolite Machine, SpecialGuestX and MOCEAN. Yazdani has worked on projects featuring Eminem, Ed Sheeran, Big Sean and OK Go, often collaborating with director Emil Nava. Previously, she was a national publicist at Biz 3, representing artists such as Chappell Roan and Ty Dolla $ign. She also held key roles at the Recording Academy, managing Grammy media operations, and at Disney Music Group, where she led campaigns for artists like Sabrina Carpenter. Beyond her agency work, she co-chairs the ThinkLA Entertainment Committee.

BeatBread, a music funding platform for artists and independent labels, announced two key hires to drive its next growth phase. Michelle Greener Goodman joins as head of sales and Zach Koche as director of sales, both based in Los Angeles. Goodman brings a background in sales strategy from Telesign and Granular, while Koche joins from FUGA with nearly 15 years of experience in business development, licensing, and artist management.

Tickets For Good, a platform offering free and discounted tickets to live events, appointed Derek DeVeaux as global chief operating officer amid major international expansion in 2025. With over 20 years in tech and operations, DeVeaux will oversee partnerships, platform delivery and daily operations, reporting to CEO Steve Rimmer. New hires include Jess Nesbitt (ticketing operations), Alex Deadman (communications), and UK-based staff Aaron Taylor, George Webb and Laura Harmer. Music partners for 2025 include Pixies, Yungblud and Robbie Williams, who, alongside Edwin van der Sar, became a TFG ambassador. The platform also launched in the Netherlands and was part of the BPI “Grow Music” accelerator.

SyncIt, a new AI-powered music discovery and licensing platform founded by Nathan Duvall, appointed producer and songwriter Patrick Patrikios as creative director. Known for his work with artists like Britney Spears and Little Mix, as well as brands including Hyundai and YouTube, UK-based Patrikios brings extensive industry experience to guide SyncIt’s creative strategy. The platform aims to propel sync licensing by using AI and intuitive search tools to connect artists with visual creators. SyncIt allows users to search for music using proprietary metadata and technology without training on user music. “In hiring Patrick, we have someone who understands the value of music and sound to a brand,” said Nathan Duvall, Founder and CEO of SyncIt. “He not only brings a wealth of experience working with brands, but a portfolio of names which further cements a solid launchpad for SyncIt.”

ICYMI:

Dean Ormston

Former Mojo Music executive Alan Wallis has launched a new music publishing company, Dynamite Songs, which already holds rights to tracks performed by major artists including Ed Sheeran, Kendrick Lamar, and Papa Roach … Dean Ormston, CEO of APRA AMCOS, has been elected chair of CISAC, becoming only the second Australian to hold the position in the organization’s 99-year history. [Keep Reading]

Last Week’s Turntable: Poo Bear Board

May 30, 2025

Business  ·  Business News  ·  Israel-Gaza
Warner, YouTube and Roc Nation Execs Sign Open Letter Denouncing Anti-Israel Rhetoric

Hundreds of entertainment industry leaders, including several from the music world, have signed an open letter issued by the non-profit Creative Community For Peace (CCFP), calling for a rejection of extremist rhetoric and misinformation surrounding the Israel-Hamas conflict.
The letter comes in the wake of the fatal shooting of two young people outside the Jewish Museum in Washington, D.C., during which the assailant reportedly shouted “Free Palestine.” This act, the signatories argue, underscores the real-world consequences of anti-Israel rhetoric.

Signatories include major music industry figures such as Warner Records CEO Aaron Bay-Schuck, former Atlantic Music Group chief Julie Greenwald, Roc Nation’s Andrew Gould, YouTube’s Lyor Cohen, Rhino’s Mark Pinkus and UTA’s David Zedeck, among others. Other signatories include manager/TV host Sharon Osbourne, songwriter Diane Warren, producer Ron Fair, and actors Mayim Bialik and Julianna Marguiles. 

Trending on Billboard

The letter responds to a series of open statements from the entertainment and literary communities — including one this week addressed to the U.K. government — that the CCFP says contain false claims and inflammatory accusations. It accuses Hamas, Iran and others of spreading antisemitic propaganda since the Oct. 7, 2023, Hamas attack on Israel, which killed approximately 1,200 people.

In the open letter, the CCFP calls on public figures to reject extremist rhetoric and misinformation targeting Israel and the Jewish people. The letter condemns Hamas, Iran, and their allies for spreading false narratives since the Oct. 7 Hamas attack, accusing them of manipulating well-meaning celebrities into amplifying falsehoods. The letter highlights how such misinformation incites real-world violence, referencing the May 21 killing of two people in D.C. The letter denounces Hamas for endangering civilians and using human shields, while accusing those critical of Israel of co-opting social justice causes to vilify the country. The signatories urge their peers in entertainment to reject falsehoods and work toward a lasting peace.

CCFP chairman David Renzer and executive director Ari Ingel highlighted the urgency of the message and warned that without responsible use of social media platforms by influential entertainers, anti-Israel rhetoric could lead to more violence and antisemitic targeting.

The letter concludes with a call for peace, urging colleagues to stand against misinformation and extremism in order to support a future where Israelis and Palestinians can live side by side in dignity.

The conflict began with Hamas’ attack in 2023. Since then, Israel’s military campaign in Gaza has resulted in an estimated 54,000 Palestinian deaths, according to the Gaza Health Ministry, which does not distinguish between civilian and combatant casualties. The Associated Press reports that of the 58 hostages still held in Gaza, Israeli officials believe about one-third may still be alive.

Read the open letter signed by Greenwald, Cohen, Bay-Schuck and more here.

May 30, 2025

Business  ·  Business News  ·  guest column  ·  mental health  ·  Ricky Reed
Investing in Wellness in the Music Community Is Not Only the Right Thing to Do, It’s Good Business (Guest Column)

In 2019, I signed a band called The Marias to my label, Nice Life. Also in 2019, after years of hard work and patience, Nice Life artist Lizzo would crash onto the world stage. But in less than a year, my world — our world — would start to unravel.
In the summer of 2020, at the height of the pandemic’s grip on all things, I was crippled with fear and anxiety; isolated with an ever-shrinking sense of hope that things would ever get better. Like just about everyone else in the music business, I started a weekly livestream. Very original. In partnership with my label, Nice Life, the goal of these Thursday night online get-togethers was to be able to, as we put it, “scream into the void,” only where someone might actually respond. The results were overwhelming. Almost overnight, we cultivated a small but vibrant community and raised tens of thousands of dollars for mutual aid programs in Los Angeles and across Native American reservations in the Southwest. Most of all, we felt connected. We had fun. I felt my creativity surge. I was reminded why I started a career in music.

In addition to my wife, Laura, and my team at Nice Life, there was another silent partner in my corner that helped shepherd me through the pandemic. She has helped me ride out the waves of this industry’s pummeling volatility for over 10 years. She has also helped me find contentment, presence and joy at deeper levels than I thought imaginable. Yes, I’m talking about my therapist.

Trending on Billboard

If you’re doing an hour-long eye roll right now, please proceed. But let me tell you that I’m not here to preach “wellness” to a community that is already well aware of its benefits. I’m here to make the case that it’s time the music business, big companies especially, begin to make a major financial investment in the mental well-being of our artists, songwriters and staff.

2020 shone a light on so many inequities across the socioeconomic spectrum and highlighted for me, personally, just how privileged I was to have the financial means to tend to my mental wellbeing. Having been an active touring artist myself for over 10 years, I was now watching the artists signed to my own label and those around them suffer greater challenges during the pandemic than I had experienced even in my lowest points.

This led to Nice Life introducing a concept that is now a pillar of our agreements and a pillar of our company and culture: The Wellness Fund. We decided that all of our artists and songwriters would have The Wellness Fund included in each term of their deal as a non-recoupable $5,000 fund to pay for any form of care that contributes to their well-being. It can go towards therapy, exercise classes, exercise equipment, yoga, massage, energy work, and anything that could contribute to their mental and physical well-being. It is also 100% confidential, with billing for these items going around the leadership team directly to HR.

For many of our artists and songwriters, this program would lead them to finally take the step to seek help for all the challenges they experience navigating this often brutal industry. They could show up more fully. They could enjoy the process. I can say that for me, also, as a songwriter and producer, when I’m feeling grounded and emotionally centered, I write more compelling songs and take chances in my productions. I’m confident, I’m courageous.

Seeing how much this initiative was doing for our artists, we decided to implement the same program for our staff. After all, it is all the amazing, creative, hardworking people at music companies who carry us in the studio on their backs. They are responsible for turning our ambitious and ever-shifting ideas into reality. For our employees, they have three years from their hire date to use the fund, and then it re-ups another $5,000 every 2 years thereafter.

If I haven’t convinced you already, let’s try a version of a familiar scenario we’ve all seen play out. An artist loses a big opportunity. This pushes said artist’s bad day over the edge, and they take it out on their manager. The manager is flustered and heads right into a weekly call with the label where they snap on their A&R, who gets off the call and is rude to the overworked product manager who walks down the hall and says something passive aggressive to the young marketing coordinator who goes home and feels like s—.

Now, we don’t know what sort of financial state each member of this team is in. We also don’t know what they’re all going through personally. But what if that marketing coordinator is up to their neck in college loan payments? What if that artist didn’t hire a business manager before they unknowingly blew through their advance? What if every member of our team had a baseline level of support to ensure they were enjoying their lives and, as a result, doing their best work?

It’s time we all agree to pool together our resources to ensure that our most vulnerable in the music industry have the support to get the help they need to keep themselves well. It’s a small price to pay for better music, better communication and a better quality of living. We’ve had recipients of our program say it changed their lives.

If our small independent label can pull this off, tell me: What’s stopping you?

Ricky Reed is a Grammy Award-winning, multiplatinum-selling producer, artist, and music executive. He is the founder and CEO of independent record label Nice Life Recording Company (Lizzo, The Marías and Tinashe), and under the Nice Life Recording Company, Ricky also has a publishing arm of the company, which is home to producers and songwriters (Nate Mercereau, Zack Sekoff, Alex Vickery, and more). Nice Life Recording Company artists have collected Grammy Awards, billions of global streams, and gold and platinum certifications worldwide, among other accolades.

May 30, 2025

billboard green  ·  Business  ·  Business News  ·  genre pop  ·  Masters  ·  Shamrock Capital
Taylor Swift Buys Back Her Masters From Shamrock, Reclaiming Her First Six Albums

Taylor Swift announced on Friday (May 30) she has regained ownership of her master recordings from Shamrock Capital, the private equity firm that purchased them from Scooter Braun’s Ithaca Holdings in late 2020. According to sources, Shamrock sold Swift’s catalog back to her for an amount relatively close to what they paid for it — which sources tell Billboard was around $360 million.
In a message on her website, Swift says: “All the times I was this close, reaching out for it, only for it to fall through. I almost stopped thinking it could ever happen after 20 years of having the carrot dangled and then yanked away. But that’s all in the past now… I really get to say these words: All of the music I’ve ever made… now belongs to me. All of my music videos. All the concert films. The album art and photography. The unreleased songs. The memories. The magic. The madness. Every single era. My entire life’s work.”

In her announcement, Swift expressed gratitude and praised Shamrock for how they handled the deal, noting they understood the deeply personal meaning behind the transaction. “My memories and my sweat and my handwriting and my decades of dreams,” she writes. “I am endlessly thankful. My first tattoo might just be a huge shamrock in the middle of my forehead.”

Trending on Billboard

The saga of Swift’s masters goes back to June 2019, when Ithaca purchased Big Machine Label Group, which owned the master recordings to Swift’s first six albums, for an estimated $300 million. Swift’s catalog was worth at least half of that amount, according to estimates at the time. Over the years, Swift has very publicly declared her displeasure with the shuffling around of her masters and, in 2019, began re-recording those Big Machine albums in order to restore control over her songs from a commercial standpoint.

Her re-recording journey began with Fearless (Taylor’s Version) in April 2021, followed by Red (Taylor’s Version) in November 2021. In 2023, she released Speak Now (Taylor’s Version) and 1989 (Taylor’s Version), each topping the Billboard 200 chart. Fans are still anticipating the re-recording of her self-titled debut and her final Big Machine LP, Reputation. Since leaving Big Machine in November 2018, she’s released five additional albums on Republic Records: Lover (2019), Folkore (2020), Evermore (2020), Midnights (2022) and The Tortured Poets Department (2024). She also embarked upon and completed her career-defining Eras Tour, which rewrote the rules of what a concert tour could be, and massively boosted streams and sales of her entire catalog, including the re-recordings.

Swift was not involved in Shamrock’s 2020 purchase of her music. “This was the second time my music had been sold without my knowledge,” she said at the time.

Shamrock’s 2020 statement about acquiring Swift’s catalog from Ithaca emphasized their admiration for her artistry and the value of her music. They described Swift as a “transcendent artist” with a “timeless catalog” and said their investment was driven by belief in the long-term potential of her work. While they had hoped to partner with her directly, they acknowledged and respected her decision not to be involved. Shamrock expressed appreciation for Swift’s professionalism and conveyed interest in collaborating with her in the future. 

Although terms of the deal were not disclosed, given that sources close to the negotiations say Swift paid a price close to the $360-million price tag Shamrock paid back in 2021, that would imply Shamrock did not make much, if any, profit off the sale of the assets. However, the financial firm with ties to Disney still made a profit of around $100 million in total over the three plus years it owned the records. The six albums and two live albums that Swift recorded when she was signed to Big Machine generated roughly $60 million a year on average globally from 2022 to 2024, according to Billboard’s estimates based on Luminate data. Distribution, marketing and royalty payments to Swift likely consumed about 50% of that revenue, leaving Shamrock with an annual profit of around $30 million a year.

In 2023, Billboard reported that the re-recordings of Swift’s albums Fearless (Taylor’s Version) and Red (Taylor’s Version) were vastly out-streaming their originals since the new versions were released, with the new Fearless earning three times the equivalent album units as the original, and the new Red as much as 10 times the original.

As of May 22 according to Luminate, Speak Now (Taylor’s Version) has racked up 2.3 million equivalent album units to the original’s 8.6 million U.S. units, despite the latter having a more than 12 year head start; Red (Taylor’s Version) has accumulated 5.18 million equivalent album units to the original’s 9.16 million U.S. units, despite the latter having been released nearly 10 years prior to the re-recording; Fearless (Taylor’s Version) has accrued 3.0 million equivalent album units to the original’s 11.7 million U.S. units, the latter having had a 13-year head start; and 1989 (Taylor’s Version) has earned 4.87 million equivalent album units to the original’s 14.6 million, with a nine year gap in release dates.

Overall, Swift’s catalog has racked up 116.77 million equivalent album units in the United States over the years, according to Luminate, stretching back to her self-titled debut album in 2006. She has sold 54 million albums in the U.S. and generated 70.746 billion streams.

Read Taylor’s full message on reclaiming her masters:

Hi,

I’m trying to gather my thoughts into something coherent, but right now my mind is just a slideshow. A flashback sequence of all the times I daydreamed about, wished for, and pined away for a chance to get to tell you this news. All the times I was thiiiiiiiis close, reaching out for it, only for it to fall through. I almost stopped thinking it could ever happen, after 20 years of having the carrot dangled and then yanked away. But that’s all in the past now. I’ve been bursting into tears of joy at random intervals ever since I found out that this is really happening. I really get to say these words:

All of the music I’ve ever made… now belongs… to me.

And all my music videos.All the concert films.The album art and photography.The unreleased songs.The memories. The magic. The madness.Every single era.My entire life’s work.

To say this is my greatest dream come true is actually being pretty reserved about it. To my fans, you know how important this has been to me — so much so that I meticulously re-recorded and released four of my albums, calling them Taylor’s Version. The passionate support you showed those albums and the success story you turned The Eras Tour into is why I was able to buy back my music. I can’t thank you enough for helping to reunite me with this art that I have dedicated my life to, but have never owned until now.

All I’ve ever wanted was the opportunity to work hard enough to be able to one day purchase my music outright with no strings attached, no partnership, with full autonomy. I will be forever grateful to everyone at Shamrock Capital for being the first people to ever offer this to me. The way they’ve handled every interaction we’ve had has been honest, fair, and respectful. This was a business deal to them, but I really felt like they saw it for what it was to me: My memories and my sweat and my handwriting and my decades of dreams. I am endlessly thankful. My first tattoo might just be a huge shamrock in the middle of my forehead.

I know, I know. What about Rep TV? Full transparency: I haven’t even re-recorded a quarter of it. The Reputation album was so specific to that time in my life, and I kept hitting a stopping point when I tried to remake it. All that defiance, that longing to be understood while feeling purposely misunderstood, that desperate hope, that shame-born snarl and mischief. To be perfectly honest, it’s the one album in the first 6 that I thought couldn’t be improved upon by redoing it. Not the music, or photos, or videos. So I kept putting it off. There will be a time (if you’re into the idea) for the unreleased Vault tracks from that album to hatch. I’ve already completely re-recorded my entire debut album, and I really love how it sounds now. Those 2 albums can still have their moments to re-emerge when the time is right, if that would be something you guys would be excited about. But if it happens, it won’t be from a place of sadness and longing for what I wish I could have. It will just be a celebration now.

I’m extremely heartened by the conversations this saga has reignited within my industry among artists and fans. Every time a new artist tells me they negotiated to own their master recordings in their record contract because of this fight, I’m reminded of how important it was for all of this to happen. Thank you for being curious about something that used to be thought of as too industry-centric for broad discussion. You’ll never know how much it means to me that you cared. Every single bit of it counted and ended us up here.

Thanks to you and your goodwill, teamwork and encouragement, the best things that have ever been mine… finally actually are.

Elated and amazed,

Taylor

Additional reporting by Elizabeth Dilts Marshall and Dan Rys.

May 30, 2025

Business  ·  Business News  ·  catalog acquisition  ·  HarbourView Equity Partners  ·  Music News  ·  Sherrese Clarke Soares
HarbourView Buys Part of Rodney ‘Darkchild’ Jerkins’ Catalog

HarbourView Equity Partners has acquired part of Grammy Award-winning songwriter/producer Rodney “Darkchild” Jerkins‘ royalty catalog, the Newark, N.J.-based entertainment company said on Thursday (May 29). The deal was facilitated by Chapter Two, a Stockholm-based tech company that gathers royalty data […]

May 30, 2025

Business  ·  Business News  ·  Dance  ·  genre dance  ·  genre electronic
Alan Walker’s New Releases Reach a Tiny Fraction of His Fans. His New App Is Designed to Fix That

It’s no secret that artists are at the mercy of the algorithm when it comes to reaching fans online and through social media — but many acts report that new music and posts on platforms like Instagram and YouTube only reach a tiny fraction of their fan bases.
This issue is one experienced by Norwegian producer Alan Walker, whose manager, Gunnar Greve, tells Billboard that “when we release a new song, it reaches only 0.4 to 2% of our most active listeners. The same goes for YouTube — even fans who want to stay connected don’t always see the content. Editorial playlists and algorithmic feeds have started to replace organic discovery.”

This is despite the fact that Walker has roughly 10.4 million followers on Instagram alone and has clocked songs with millions, even billions, of streams.

Trending on Billboard

“When I released ‘Faded’ in 2015,” Walker says of his biggest hit, “streaming was still in its early days. There was a sense of excitement, a new world opening up. But in the years since, the pace of the industry has exploded. Today, the landscape is crowded, noisy, and often overwhelming even for those of us with big followings and strong communities.”

Like many other artists, Walker has observed that “the connection between artists and fans is starting to slip. Not because people care less, but because the systems we rely on don’t prioritize or find space for meaningful content. The pressure to chase trends or fit into playlist algorithms often takes the spotlight away from creativity, experimentation and emotional connection. The reasons most of us got into music in the first place.”

To cut through this noise, Walker and Greve are preparing to launch World of Walker, a custom app and online community tailored for Walker’s millions of global fans.

Launching on Aug. 8, World of Walker will offer exclusive immersive fan experiences, access to premium content (including Walker’s entire music and video catalogs), behind-the-scenes material, exclusive weekly livestreams, direct chats and more. Users can also participate in community-driven projects, events and discussions. The app is free to join, and pre-registration is available now.

The way Walker and Greve see it, World of Walker will provide greater opportunity than most social platforms for everyone involved. “For one, we can speak freely, without worrying about algorithms or chasing virality,” says Walker. “I have a global, diverse fanbase with different interests, and this app gives each person the chance to build their own World of Walker. They can find their people, join conversations that matter and stay connected to what truly resonates with them. We also get better insight into what fans actually want, which means we can shape the platform based on real feedback, not guesswork.”

Greve says the goal is reaching 500,000 users within the first year, “but the most important thing is for people to be active and engaged within the app.” In terms of monetization, he adds that the business model has two layers.

“First, just having a direct line of communication with fans without relying on third-party platforms. This is a success in itself. But in the app, we’ll have a mix of activity-based experiences and monetization through a small premium model and an in-app store with both physical and digital items. If we create enough engagement and value, profitability will follow.”

While Walker and Greve acknowledge that not every artist has the resources to build such a platform, they hope their project will help the industry evolve “in a way that puts fans and artists at the center. Not just as tools for big corporations,” says Greve.

Ahead of the app’s August launch, fans will get the opportunity to join the world of Walker in real life when he plays the final show of his two-year Walkerworld Tour at SummerStage in New York’s Central Park on Saturday (May 31.) Walker reports playing for more than 500,000 people during the tour and says he’ll also be releasing new music this summer.

World of Walker

Courtesy of World of Walker

World of Walker

Courtesy of World of Walker

May 29, 2025

billboard pro  ·  Business  ·  Business News  ·  conferences  ·  Events  ·  festivals  ·  Touring
Billboard’s Music Industry Events Calendar

As part of our continuing efforts to serve the music industry and its creators, Billboard Pro now features a music industry events calendar for readers.
The calendar will act as music’s most complete summary major national and international industry events, from conferences to festivals to networking mixers and more. Just as Billboard is music’s must-read source for news, charts and analysis, now it also is the go-to for business happenings.

May 2025

June 2025

June 2-7 – SXSW London (London)

June 3 – New York Music Month conference (New York)

June 4-8 – Primavera Sound Barcelona (Barcelona)

June 5-8 – BET Experience (Los Angeles)

June 5-8 – CMA Fest (Nashville)

June 6-8 – Governors Ball (New York)

June 7-8 – Country Goes Global (Nashville)

June 8 – ASCAP Rhythm & Soul Songwriter Celebration Brunch (Los Angeles)

June 8 – Tony Awards (New York)

June 9 – BET Awards (Los Angeles)

June 9-12 – A2IM Indie Week (New York)

June 10 – AIMP Global Music Publishing Summit (New York)

June 10 – DiMA Summer Members’ Meeting and Gathering (New York)

June 10 – Music Investor Conference (New York)

June 10 – Ritmo Latino Awards (San Juan, Puerto Rico)

June 11 – National Music Publishers’ Association annual meeting (New York)

June 11-15 – NXNE (Toronto)

June 12 – Songwriters Hall of Fame Induction & Awards Gala (New York)

June 12-14 – Sónar+D (Barcelona)

June 12-15 – Bonnaroo Music & Arts Festival (Manchester, Tenn.)

June 12-15 – Primavera Sound Porto (Porto, Portugal)

June 13-14 – Somewhere Festival & Conference (Wichita, Kans.)

June 16 – UJA Federation Music Visionary of the Year Award Celebration (New York)

June 19-21 – Summerfest weekend 1 (Milwaukee, Wis.)

June 20 – Hot 97 Summer Jam (Newark, N.J.)

June 20-22 – Summer Smashfestival (Chicago)

June 23-25 – NIVA ’25 Conference (Milwaukee, Wis.)

June 25-29 – Glastonbury Festival (Pilton, England)

June 26-28 – Summerfest weekend 2 (Milwaukee, Wis.)

June 26-July 5 – Festival International de Jazz de Montréal (Montreal)

June 28-July 5 – Roskilde Festival (Roskilde, Denmark)

June 29-July 1 – NAMM NeXT (Nashville)

July 2025

August 2025

September 2025

October 2025

November 2025

January 2026

February 2026

March 2026

April 2026

Want your event listed? For more information contact joe.maimone@billboard.com.

Trending on Billboard

May 29, 2025