Downtown Music Names Andrew Bergman CEO, Justin Kalifowitz Shifts to Chairman

Sony Interactive Entertainment (SIE) America and chairman of SIE Worldwide Studios, has predicted that PlayStation 5 games will cost $200m to make.In an interview with Bloomberg, he explained that the cost of game development doubles with every platform noting that recent big PlayStation 4 titles have hit $100m. “If we can’t stop the cost curve from going up, all we can do is try to de-risk it.

Jem Aswad Senior Music EditorWhen YouTube Music launched its Premium service — then called YouTube Key, if memory serves — back in 2014, people wondered why anyone would pay for what they can get for free, albeit with advertising.

Jem Aswad Senior Music EditorWith overall revenue growth of 9% and a 7% gain in EBITDA, BMG boasts of its best first half since parent company Bertelsmann returned to the music business with a new-look model in 2008. While the pandemic stymied growth in music publishing, BMG’s core business, a 29.4% uptick by recorded music carried the day for the fiscal period that ended June 30.Revenue for the period was €296 million, EBITDA at €50m.

Jem Aswad Senior Music EditorThe Bonnaroo Music Festival, scheduled to begin on Thursday, has been canceled, organizers announced on Tuesday afternoon. The reason given was not Covid-related, but rather due to heavy rains from Hurricane Ida soaking the festival’s grounds.More to come… We are absolutely heartbroken to announce that we must cancel Bonnaroo.

Jem Aswad Senior Music EditorAs next month’s Universal Music Group public listing moves closer, parent company Vivendi announced early Tuesday that billionaire Bill Ackman’s Pershing Square Holdings is acquiring another 2.9% of the company for just under $1.5 billion, based on a valuation of €35 billion, or around $41.3 billion.This follows Pershing Square’s acquisition of 7.1% of UMG for $2.8 billion, fulfilling Ackman’s stated goal of racking up 10% of UMG’s share capital.Earlier this year,

Jem Aswad Senior Music EditorRCA Records has announced the appointment of Carolyn Williams to the newly created role of executive vice president. According to the announcement, she will work with RCA’s executive team to oversee the company’s artist and label brand-management and marketing operations.

Jem Aswad Senior Music EditorRemember those new Abba songs and “virtual tour” that were supposedly on the way three and a half years ago? First it was two new songs, then six new songs, for a “Virtual Abba” experience in collaboration with “American Idol” creator Simon Fuller? Well, finally something is on the way, judging by a vague social media post from the group that appeared in the wee hours of Thursday.Join us at https://t.co/AAFQLIrqJu #ABBAVoyage pic.twitter.com/7LYw3kojzB— ABBA Voyage

Jem Aswad Senior Music EditorLegendary singer-songwriter and eight-time Grammy-winner Joni Mitchell will be honored as the 2022 MusiCares Person of the Year, the Recording Academy announced on Wednesday. She will be the honoree during the 31st annual Person of the Year benefit gala, which will be held at the Los Angeles Convention Center on Saturday, January 29, 2022, two nights before the 64th Annual Grammy Awards.

Jem Aswad Senior Music EditorMiley Cyrus has parted ways with longtime manager Adam Leber and joined the team at Crush Management, two sources confirm to Variety.There, she joins a roster that includes fellow female pop luminaries Sia and Lorde as well as such veteran rock acts as Green Day, Weezer and Fall Out Boy, all three of whom are currently on the Hella Mega stadium tour, which was rescheduled from 2020 (although Fall Out Boy had to sit out a handful of dates due to a positive Covid test

Jem Aswad Senior Music EditorSiriusXM and TikTok launched TikTok Radio (located on channel 4) at noon ET on Friday (August 20), which seems to be a way for people who have satellite radio but can’t figure out TikTok to hear the top songs trending on the wildly popular platform.

Jem Aswad Senior Music EditorAn attorney for R. Kelly attempted to discredit one of the accusers leveling allegations of sexual abuse against the singer on Thursday, after she’d claimed he had slapped and choked her during what she described as their final sexual encounter more than 10 years ago.Jerhonda Johnson Pace, the first witness testifying for prosecutors in Kelly’s long-delayed racketeering trial in New York, is among multiple women leveling claims of sexual abuse against Kelly.

Miss New York USA pageant wraps up Friday at the Resorts World Catskills hotel.One hundred sixty women, ages 18 to 28 and from every corner of the state, will compete in front of a live audience in three categories: interview, evening gown and swimwear. The winner will go on to compete in the the Miss USA Pageant in November.“I’m amazed that considering we’re still going through a pandemic, they work so hard and .

Jem Aswad Senior Music EditorFinding talent early is a key component of being a good agent and being a good A&R person, so it’s surprising that more people don’t do both. Matt Galle is one of the few who does.

Jem Aswad Senior Music EditorIn a major shakeup at the Recording Academy, longtime chief awards officer Bill Freimuth has left the organization, along with VP of communications Lourdes Lopez and chief marketing and innovations officer Lisa Farris, Variety has confirmed. Freimuth had overseen the complex and often controversial nominating and awards process for the Grammy Awards since 2004.Reps for the Recording Academy did not immediately respond to Variety’s requests for comment.

Jem Aswad Senior Music EditorMadonna, the top-selling female artist of all time, will bring her entire catalog of recorded music under the Warner Music umbrella as part of a career-spanning global partnership announced Monday.

Jem Aswad Senior Music EditorUniversal Music Publishing is disputing wording by Hipgnosis Songs in a statement released Monday announcing Hipgnosis’ acquisition of a song catalog from Christine McVie of Fleetwood Mac, one of the most commercially successful groups of the past 50 years.The disagreement stems from Hipgnosis’ unusually worded announcement, which can be seen as implying that Hipgnosis has acquired the entirety of a 115-song catalog from McVie, although that is not the case.In a

Now that his uncle has been hit with a civil sexual abuse lawsuit, royal insiders are revealing Prince William’s response to Prince Andrew’s Jeffrey Epstein scandal. The Duke of Cambridge and his father, Prince Charles, are “increasingly concerned” by the allegations—and they’re particularly worried about how the disturbing news might “affect” the Queen, according to a new report by The Mirror.

Jem Aswad Senior Music EditorLegendary singer Tony Bennett — who celebrated his 95th birthday just last week, performing with Lady Gaga at two-sold out shows at New York’s Radio City Music Hall — has canceled his Fall 2021 tour dates.The tour — consisting of pre-pandemic shows dates had been rescheduled — was slated to begin in September. The affected dates include New York, Maryland and Connecticut as well as Oklahoma and Canada.

Jem Aswad Senior Music EditorJustin Bieber and Megan Thee Stallion led the nominations for MTV’s 2021 VMAs, which were unveiled by the network Wednesday.

Jem Aswad Senior Music EditorFrance-based Vivendi, parent of Universal Music Group, has sold 7.1% of that company’s share capital to Pershing Square Holdings, the investment firm managed by billionaire Bill Ackman, for $2.8 billion, with the possibility to sell him a further 2.9% by September 9, 2021.