Universal Music Posts 17% Growth in First Post-IPO Earnings Report

Jem Aswad Senior Music EditorAs expected, veteran agent Scott Clayton, who left his role as co-head of music at WME late last month, has joined UTA as co-head of its global music division and as a partner, the company announced Monday.Clayton and current UTA Global Music Co-Heads Sam Kirby Yoh and David Zedeck will together “create a powerhouse leadership trio spanning UTA’s New York, Los Angeles, and Nashville music hubs and further solidify the agency’s reach across all music genres,”

Jem Aswad Senior Music EditorSnap has struck a licensing deal with Sony Music Entertainment — which means the music of all three major labels/ publishers and many indies is now available on the platform (which prefers to be called a camera company, not a social media network).

Jem Aswad Senior Music EditorDru Bass has joined William Morris Endeavor as a music crossover agent in hip hop and R&B, it was announced today by Kirk Sommer and Lucy Dickins, co-heads, worldwide music, WME. Bass joins the agency from UTA, where he represented such artists as Young Thug, Tierra Whack, Issa Rae’s music company RAEDIO, Emmy-nominated composer Amanda Jones, Harvey Mason Jr., Princess Nokia, Burna Boy, Lil Wayne, Michelle Williams, and Lauryn Hill.

Jem Aswad Senior Music EditorHouston mayor Sylvester Turner has promised a “thorough review and investigation” of the tragedy at the Travis Scott-headlined festival in the city, where eight people died and more than 300 were injured as crowds surged and stampeded during Scott’s set.

Jem Aswad Senior Music EditorAhead of his “Astroworld” festival taking place in his Houston hometown this weekend, Travis Scott has dropped two new songs, “Escape Plan.”The songs are likely from his forthcoming album “Utopia,” which he and producer Mike Dean have teased on social media over the past few weeks.Although “Escape Plan” drew most of the initial attention upon the midnight drop — within the first 13 minutes, the audio of “Escape Plan” had 18,000 listens on YouTube and “Mafia” had

Jem Aswad Senior Music EditorAfter a grueling 18 months of pandemic, Live Nation Entertainment posted a strong third quarter of 2021, with the return of festival concerts helping to drive “all our business segments to positive operating income and adjusted operating income for the first time in two years,” according to the report, with a company-wide operating income and AOI of $137 million and $306 million, respectively.The report notes that its results are driven “primarily” by the U.S.

Jem Aswad Senior Music EditorA murderer’s row of top hip-hop producers including DJ Premier, Swizz Beatz, Mustard, The-Dream, Mike Will Made It, No I.D, Hit-Boy, Take A Daytrip and Tainy will release EPs via Mass Appeal’s “Hip Hop 50 the Soundtrack,” as part of the company’s #HipHop50 campaign in celebration of the genre’s 50th year.

Jem Aswad Senior Music EditorGrammy Award-winning singer and songwriter Lionel Richie has signed an exclusive, global publishing agreement with Universal Music Publishing Group, the company has announced. The deal includes songs written throughout Richie’s solo career, including smashes like “Hello,” “Lady,” “Dancing on the Ceiling,” “All Night Long,” “Say You, Say Me” and many others; he also co-wrote the charity single “We Are the World” with Michael Jackson in 1985.

Jem Aswad Senior Music EditorWithout overstating the case, it’s fair to say that the past few years have shown us what happens when we don’t bother to vote.While the Grammy Awards are nowhere near as important as a national, state-wide or local election, it’s certainly one of the most important votes in the music community.

Jem Aswad Senior Music EditorThere’s little question that the past 20 months of the pandemic have been devastating. But for all that has been lost, musicians and the industry around them have found countless innovative and inspiring ways to survive, cope, adapt and even thrive.

Jem Aswad Senior Music EditorBruce Springsteen is in talks to sell the rights to his recorded music to Sony Music as well as his publishing catalog, three sources confirm to Variety. While the album catalog deal is nearly done, some sources say, the publishing catalog remains in play.

Jem Aswad Senior Music EditorCardi B will host the American Music Awards, which will air live from the Microsoft Theater in Los Angeles on Sunday, Nov. 21, at 8 p.m.

Jem Aswad Senior Music EditorFour-time Grammy-winning singer-songwriter Sam Smith has signed an exclusive worldwide publishing agreement with Tim & Danny Music and Warner Chappell Music through a new joint venture, covering all future works.

Jem Aswad Senior Music EditorThe Rolling Loud festival makes its New York debut this weekend, with a powerful lineup that includes some of the biggest names in hip-hop. The bill is topped by \headliners 50 Cent (whose first major performance in many months takes place tonight), J.

Jem Aswad Senior Music EditorOlivia Rodrigo and the Weeknd lead the nominees for the American Music Awards with seven and six nods respectively, show producers MRC Live & Alternative and ABC today this morning. Bad Bunny, Doja Cat and Giveon are close behind with five.

Jem Aswad Senior Music EditorIn an understated, very Swedish way, ABBA co-founder and CISAC president Bjorn Ulvaeus is apoplectic.We’re talking about the soaring value of song catalogs — a boom that has seen Bob Dylan sell his catalog for nearly $400 million, and Hipgnosis Songs spending more than $2 billion on acquisitions in just over three years, with another billion-plus on tap.

Jem Aswad Senior Music EditorGlobal royalties collections for music creators dropped 10.7% during 2020 due to the pandemic, declining by nearly €1 billion (approximately $1.16 billion) to a pre-2017 level of €8.12 billion (approximately $9.3 billion), according to the 2020 Global Collections Report published Wednesday by CISAC, the International Confederation of Societies of Authors and Composers.The collections were a setback after years of consecutive growth — including an 8% boost in 2019 to

Jem Aswad Senior Music EditorAdele, master of the slow reveal, has unveiled what appear to be the first two dates of the tour in support of her forthcoming album “30” — and they’re a blockbuster: two nights in London’s Hyde Park next summer, the sprawling green in the middle of her hometown that has hosted concerts by everyone from the Rolling Stones and Queen to Elton John and Blur.Adele announced the dates, which are scheduled for July 1 and 2, 2022, on social media early Tuesday.Oiii

Jem Aswad Senior Music EditorThe estate of legendary R&B singer Luther Vandross has struck a wide-ranging partnership with Primary Wave Music that sees the company acquiring a stake in the late artist’s publishing, master recording income stream, and name and likeness rights.

Jem Aswad Senior Music EditorWe at Variety usually reserve our get-out-the-vote efforts for things like presidential and congressional elections.