The AvA Connection

The Weekly Buzz:

A few standout 3Q earnings reports dropped this week. (YoY=Year over Year or 2024 Q3 vs. 2023 Q3).

Spotify is on track to achieve first full year of profitability. Third Quarter 2024 highlights below:

• Subscribers grew to 252 million (+12% YoY)

• MAUs (Monthly Active Users) grew 14 million users to 640 million (+11% YoY)

• Total Revenue: $4.25 billion (+19% YoY)

Live Nation profits beat Q3 projections, with profitability up +39% YoY to $474 million, but revenue still fell 6.6% YoY to ONLY $7.7 billion. This was mostly weighed down by a -30% YoY decline in stadium attendance. Ticketing revenue was down -17% YoY, but was largely offset by a +3% YoY jump in concert attendance (112 million fans in Q3). Now that is verified!

Sony generated $2.55 billion in revenue this year from recorded music and publishing in Q3. The company is now up 9.6% YOY. Full story here.

Other news for all you non-numbers people (like me):

Sabrina Carpenter is up for the Best New Artist category despite releasing her sixth studio album this year. The CEO of the Recording Academy explains why this happened (hint: it’s not a new thing).

SAD: Pitchfork has cancelled it’s long running festival after 19 years. They’re on the record saying they are still going to produce shows and to continue building community elsewhere, but the chapter for the current Chicago concert series is now finished. More info here.

HAPPY: Noah Kahan raised over $2.5 million for his mental health organization “The Busyhead Project” while on his recent We'll All Be Here Forever Tour. These donations supported 100+ local organizations, featured wellness villages at every show, and did a whole lot of good for a whole lot of people. Full story here.

Yale is set to offer a course about Beyoncé that will focus on “Black History, Intellectual Thought & Performance.” More on that here.

Shaboozey officially has the most weeks ever at #1 on Billboard for a song with no accompanying acts. This week was his 17th so far, leaving everyone wondering how long his historic run will last. Story here.

In other streak-worthy news, Lil Wayne has just broken an absurd Billboard 100 streak: 21 years straight with a song on the chart. He currently holds the longest active streak on the Hot 100, surpassing artists like Chris Brown and Jason Aldean, who follow with 20 consecutive years each. His feature on "Sticky" with Tyler, The Creator, GloRilla & Sexyy Red landed him his 187th song on the Hot 100, and he is the first rapper to ever reach that milestone achievement. That’s uhhh pretty good I think.

📞 The Call Log: Nick Maiale, CEO of jump.global

AvA: What is one piece of advice for someone just starting out in the Entertainment Industry?

Maiale: Always make sure you make time for community building, going to conferences, and building your own personal brand and equity. Oftentimes in the music business, we get so caught up in getting a job or working in the job itself that we often lose sight of who we are as people. Whether you're an assistant, an agent, an entrepreneur, or unsure – you need to make time to do things that build the business of your first and last name. 

AvA: 5 resources (books, podcasts etc.) you'd recommend to someone early in their career?

I can't read books and I don't like podcasts so here ya go :)

1. The Digilogue – A diverse, global music and tech community that programs career resources, artist discovery content, and educational conversations. 

2. Measure of Music – a virtual 3-day weekend program to show the impact & importance of data across the music industry and to give current music execs, music industry hopefuls and industry career changers a crash course in music and data. 

3. 24/7 Artists – A community that provides masterclasses, industry mentorship, career management tools, and a supportive artist community to help you turn your passion into a full-time career.

4. Music Ally – A platform and outlet that helps people learn, grow, and build sustainable careers where music and technology meets – through thought-leading analysis, training, events, and hands-on work.

5. ROSTR – Artist contacts, audience insights, company rosters, signings, tours, festivals, jobs and much more.

(and duh AVA)

AvA: What skill(s) are becoming more valuable in our industry? 

Maiale: Human skills that I wish were taught in schools. 

• Financial literacy and personal finance management (for execs as opposed to artists)

• Effective communication

• Leadership

• Longterm mental health and wellness management (no more bandaids)

• Entrepreneurship

AvA: One bold prediction for the music business? 

Maiale: My bold prediction for the music business is that the people who work within it will take pride in their jobs – not from the artists they work with or the cool shows they get to go to – but for the standards the industry sets for how it treats its humans. Music is such a powerful force, but historically its executives and artists have been taken advantage of and trampled on. My hope is that we continue to inch towards an industry that cares about the wellbeing of those who have dedicated their lives to it. 

MERCH: We dropped some stickers. They are funny. Buy them for coworkers you like (or hate).

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