x

The latest industry news to your inbox.


I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

CAA signs AI tech and content firm Futureverse

Talent giant Creative Artists Agency (CAA) has signed AI and metaverse technology and content company Futureverse.

Deadline reports that the businesses will collaborate to create new opportunities for talent and IP, “spanning web3, the metaverse, virtual games, worlds and experiences, AI, and beyond”.

The strategic partnership will enable Futureverse to “bolster its strategic entertainment efforts to accelerate the creation of technology experiences in collaboration with well-known IP”.

“We are thrilled to be working with Futureverse, who are establishing themselves as leaders in the technology and entertainment space,” says Phil Quist of CAA. “This relationship is not just a meeting of minds, but a fusion of capabilities that will accelerate our shared vision for a smarter, more connected world.”

Co-founded by Shara Senderoff and Aaron McDonald, Futureverse announced the close of a $54 million Series A funding round in July 2023, led by 10T Holdings, LLC, and including participation from Ripple.

“Futureverse’s strategic collaboration with CAA has forged a strong alignment in fostering the development of mutually beneficial business models”

In the last year, Futureverse has linked up with the likes of Warner Music Group, FIFA, Authentic Brands Group (ABG), Mastercard, Wimbledon, Death Row Records, Wētā Workshop, Snoop Dogg, Timbaland, Keanu Reeves and Alexandra Grant. It launched AI-powered game AI League in cooperation with FIFA on iOS and Android and has partnered with ABG, IP Rights holders of the Muhammad Ali Enterprises, to release the first AI-powered boxing game, Muhammad Ali – The Next Legends.

In August meanwhile, it announced the publication of research in the advancement of music AI with the launch of JEN 1, an “unprecedented universal high-fidelity model for text-to-music generation”.

“At a substantial moment in the evolution of technology, it’s critical to architect a thoughtful and creative approach to the integration of both talent and IP into the dynamic landscape of innovation,” says Senderoff. “Futureverse’s strategic collaboration with CAA has forged a strong alignment in fostering the development of mutually beneficial business models that empower creators with groundbreaking tools and lucrative revenue opportunities.

“As pioneers in AI, web3 and metaverse infrastructure, driven by a deep appreciation for art and humanity, we see an incredibly bright future for the world of entertainment. Joining forces with CAA amplifies and accelerates the dialogue and partnerships that reinforce and expand our shared vision.”

Artémis, an investment firm led by billionaire French businessman Francois-Henri Pinault, acquired a majority stake in CAA in September this year.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Jarred Arfa talks building IAG’s ‘all-star team’

Independent Artist Group (IAG) EVP, head of global music, Jarred Arfa has opened up on the company’s ambitions to establish itself as “the premier alternative agency option worldwide”.

IAG was launched earlier this year following the merger of US-based talent agencies Artist Group International (AGI) and Agency for the Performing Arts (APA), in a move that further intensified competition in the international live music agency landscape, which had been largely consolidated by just four companies – CAA, Wasserman, UTA and WME.

The deal brought AGI’s roster, which included the likes of Billy Joel, Rod Stewart, Smashing Pumpkins, Linkin Park, Metallica, Noel Gallagher, Motley Crue, The Strokes and Iggy Pop, and APA clients such as 50 Cent, 2 Chainz, Fetty Wap, Deep Purple, Mary J Blige and Lauryn Hill, under one roof.

US-based Arfa, who was previously COO of New York’s AGI, tells IQ the union was a natural fit.

“We were very impressed with the work that [APA executives] Jim Osborne and Kyle Loftus had done with the film/TV careers of music clients – particularly 50 Cent and Mary J Blige – and how their success in those areas helped elevate their touring careers,” he says. “We wanted to be able to offer our artists a full suite of services beyond our touring expertise in TV, film, lit and branding in order to help facilitate their interests in other artistic outlets and further enhance the value of their brands and intellectual property.

“Our goal isn’t to become the biggest agency, but really more of a selective all-star team”

“We were coming off the best year in our company’s history at AGI so it wasn’t something that was necessary but it was certainly something that we saw as additive and complementary to our core business.”

Founded in 1986 by Jarred’s father, Dennis Arfa, AGI was owned by the Yucaipa Companies, the private-equity group controlled by billionaire investor Ron Burkle, which also made a strategic investment in LA-headquartered APA in 2021. The merger saw Dennis Arfa appointed chair of IAG’s music division, with AGI president Marsha Vlasic named vice-chair and APA president Osborne becoming CEO.

“It couldn’t have been a smoother transition as we were already working with the APA content team on a number of projects for our music clients prior to the merger and had a great deal of success with those projects,” says Jarred. “We both share a client-first ethos that I think has been lost as many of our competitors have focused on becoming multimedia companies. I believe there is still a real need for an agency that’s primary goal is to create and enhance value for its clients.

“We believe in a quality before quantity mantra and that is how we will continue to build our business. We want to continue to work with artists we truly feel can have long careers and that we can envision becoming headliners. Our goal isn’t to become the biggest agency, but really more of a selective all-star team. We will be very strategic and thoughtful in how we expand our business to align with the above mentioned philosophies.”

Although the TV and film sectors were hampered in 2023 by the Hollywood strikes, Arfa points out that the concert touring business has “never been hotter”. Singling out shows by clients Ne-Yo, Robert Glasper and the Smashing Pumpkins as “extremely inspiring”, he also cites Billy Joel’s Madison Square Garden residency and stadium run with Stevie Nicks, alongside successful tours by 50 Cent, Metallica, Def Leppard & Motley Crue, Ms Lauryn Hill & Fugees, Pantera, Rod Stewart and Neil Young.

“I expect touring to continue to thrive in the experience economy and with so many different genres of music continuing to grow”

“IAG touring had an incredible year with a number of artists headlining arena and stadium tours worldwide,” he says. “We are also very proud of Ghost becoming a bonafide arena headliner in the States and the continued growth of other great rock bands like Sleep Token and Falling in Reverse.

“In 2024, I am excited about the development of some other newer artists like Key Glock, Matt Malteese, Eem Triplin, Bigxtheplug, Téo and Freddie Dredd, amongst many others. I believe IAG will continue to establish itself as the premier alternative agency option worldwide and will attract many great clients who are looking for a more hands-on and team-oriented type of representation but still has all the services that a larger agency can provide. I expect touring to continue to thrive in the experience economy and with so many different genres of music continuing to grow.”

In closing, Arfa urges the rest of the world to adopt the tools that have been utilised to help raise artist grosses in the US, such as platinum ticketing and dynamic pricing.

“Although slowly being adopted in Europe, I believe it is very important to be embraced across the industry worldwide to help offset the rising costs of touring,” he says.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Which agencies booked Europe’s festival summer 2023?

Wasserman Music booked the most artists across Europe’s 2023 festival summer and CAA booked the most headliners, according to new analysis of 50 major festivals by music industry directory ROSTR and IQ.

In total, 4,700 artists took to stages across the 50 festivals, with the majority of artists represented by 34 agencies and Wasserman Music, UTA, CAA and WME occupying the top four slots. The same four agencies booked 60% of all headline performances.

A total of 146 headliners performed across the 50 top festivals, with Billie Eilish, Arctic Monkeys, and Rosalía topping the most bills (six each). And just 800 artists appeared on more than one lineup with Nothing but Thieves and Nova Twins appearing on the most (11 each).

In terms of music genres across the 50 European festivals, rock and indie artists accounted for the majority of performances, regardless of whether they were headlining or not. And while the research did not focus on the core of dance/ EDM festivals, the genre still accounts for more than pop and hip-hop combined, showing how popular it remains across mixed-bill events.

According to ROSTR, Wasserman now has the largest music roster of any agency in the world – 2,522 artists compared with 2,131 represented by CAA, 1,861 booked by UTA, and 1,489 represented by WME.

IQ and ROSTR’s full analysis, which includes detail about artist longevity, gender balance across lineups and more, appears in the new issue of IQ 122. You can read the digital edition of IQ 122 here.

 

 

ROSTR – a music industry directory, contacts, data and jobs platform – holds artist rosters, people, and company in formation for around 10,000 companies worldwide.


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

French tycoon’s firm secures majority stake in CAA

Artémis, an investment firm led by billionaire French businessman Francois-Henri Pinault, has acquired TPG’s majority stake in Creative Artists Agency (CAA).

Financial details have not been disclosed but Bloomberg previously reported the deal would value the leading sports and entertainment agency at US$7 billion (€6.2bn). Private equity company TPG upped its 35% stake in CAA to 53% for a reported $225 million in 2014.

CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett will remain co-chairs in the wake of the agreement, with Lourd expected to be named CEO and Jim Burtson to continue as president.

Pinault is chairman and CEO of Paris-headquartered luxury goods company Kering, owner of brands such as Balenciaga, Bottega Veneta, Gucci, Alexander McQueen and Yves Saint Laurent. He has been president of Groupe Artémis – the Pinault family’s investment company – since 2003.

“Artémis is a strategic investor of the highest order”

“Artémis is a strategic investor of the highest order, with global reach and resources across countless areas of our clients’ interests, a deeply sophisticated understanding of global brands and how to support their growth, and a passion for creativity and innovation that matches ours and that of our clients,” says a joint statement from Lourd, Lovett, Huvane and Burtson.

Founded in 1975, CAA is headquartered in Los Angeles, and has offices in New York, Nashville, Memphis, Chicago, Miami, London, Munich, Geneva, Stockholm, Shanghai and Beijing, among other locations.

“François-Henri Pinault and his remarkable team, led by Héloïse Temple-Boyer and Alban Greget, share our vision for a future of limitless new opportunities,” adds the statement. “We are enormously grateful to TPG for their strategic expertise, invaluable support, and friendship over 13 years. We enjoyed tremendous growth and success together and look forward to continuing to collaborate on projects ahead.”

Singapore-based global investment vehicle Temasek remains a minority owner, with CMC Capital remaining a strategic partner.

CAA consolidated its position at the forefront of the international live music agency landscape last year with its acquisition of ICM Partners

CAA consolidated its position at the forefront of the international live music agency landscape last year with its acquisition of ICM Partners (ICM), in a move valued at $750 million by Hollywood Reporter. The agreement was said to be the largest talent agency transaction since WME acquired IMG in 2014.

The company’s music clients include the likes of Harry Styles, Beyoncé, Lady Gaga, Katy Perry, Florence + The Machine, Dermot Kennedy, Sam Smith, Kylie Minogue, Red Hot Chili Peppers, Lorde, Green Day, Muse, Sam Fender, Haim, The Black Keys and Paramore, while its acting clients include Tom Cruise and Pinault’s wife Salma Hayek.

The agency sector has been largely consolidated by just four companies – CAA, Wasserman, UTA and WME – although US-based talent agencies APA and Artist Group International merged to form Independent Artist Group earlier this summer, while the UK’s Primary Talent International, which was sold to ICM Partners in 2020, returned to independence in March following a management buyout.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

New metal festival to launch in the Netherlands

A new two-day heavy metal festival will debut in the Netherlands next year, it has been announced.

South of Heaven will take place in Maastricht on 31 May and 1 June 2024, promoted by TIRR Music Agency, Muziekgieterij Maastricht and Doomstar Bookings.

The event will feature two stages and 21 bands, with the first acts, venue and ticket sale details to be confirmed “very soon”.

“South of Heaven is committed to a strong programme with mainly internationally celebrated metal bands”

“South of Heaven is committed to a strong programme with mainly internationally celebrated metal bands, a good old-fashioned atmosphere, a top location in Maastricht, delicious food and drinks and a relatively low ticket price,” says a statement from organisers.

The Association of Dutch Music Venues and Festivals’ (VNPF) recently published Poppodia and Festivals in Figures 2022 report showed the Netherlands’ live business has experienced a post-pandemic resurgence, although concerns remain over rising costs.

Venues and festivals received a total of 7.6 million visits last year, compared to 883,000 in 2021 and 8.6m in the last pre-Covid year of 2019, despite an “abnormal” year for the business, with corona restrictions not lifted until three months in. The study results are based on responses from 48 music venues and 55 festivals.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Wasserman Music unveils four key hires

Leading agency Wasserman Music has announced four key additions to its global team.

The company has bolstered its leadership in talent representation for live performance, touring and brand partnerships by welcoming agents Andrew Buck, Andrew Morgan and Ryan Soroka in the US, and Shanae Dennis in the UK.

The hires will further expand Wasserman’s footprint in the pop, rock, indie, latin, and dance/electronic spaces.

“We’re thrilled to welcome this outstanding group of respected agents and industry movers to the Wasserman Music family,” says Wasserman Music EVP and managing executive Lee Anderson.

“What sets us apart is our passion for ensuring the long-term success of our clients and our genuine love and respect for the art they create”

“What sets us apart is our passion for ensuring the long-term success of our clients and our genuine love and respect for the art they create. We see those qualities reflected in each of these new team members, and we’re excited to have them join our ranks – both for their proven abilities and for the way they complement our unique culture.”

Buck joins as New York-based VP after 20 years at APA, bringing with him roster including Judas Priest, Skillet, and Badflower, while Dennis joins as London-based agent after building an independent roster of primarily African electronic music artists, including Mr JazziQ,Mellow & Sleazy, and DJ Nicky Summers.

Los-Angeles-based Morgan comes on board as an agent following a five-year run at Ground Control Touring and a decade at the Billions Corporation. Morgan’s clients include Angel Olsen, MJ Lenderman, Bully, Mount Eerie, Ichiko Aoba, Skullcrusher, Song Exploder, Sunset Rubdown, Wednesday, and Welcome to Night Vale.

And New York-based Soroka, who works acts such as The Aces, REIK, One OK Rock, Beach Weather, LÉON, Boys Like Girls, Cimafunk, Jesse & Joy, Our Last Night, Josiah and the Bonnevilles and David Garibaldi, joins as agent after seven years at UTA.

PHOTO (L-R): Andrew Buck, Shanae Dennis, Andrew Morgan, Ryan Soroka

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

US agencies merge to form Independent Artist Group

US-based talent agencies APA and Artist Group International (AGI) have merged to form Independent Artist Group (IAG).

New York’s AGI was founded in 1986 by Dennis Arfa and is owned by the Yucaipa Companies, the private-equity group controlled by billionaire investor Ron Burkle, which also made a strategic investment in LA-headquartered APA (Agency for the Performing Arts) in 2021.

The merger announcement sees Arfa appointed chair of IAG’s music division, with AGI president Marsha Vlasic named vice-chair and APA president Jim Osborne becoming CEO. The new full-service agency promises to intensify competition in the international live music agency landscape, which had been largely consolidated by just four companies – CAA, Wasserman, UTA and WME.

“This was the natural next step in our evolution and made in the best interests of our valued artists,” says Arfa. “We have admired how Jim Osborne and their colleagues have been market leaders in creating brand expanding, non-touring revenue opportunities for their clients and we are excited to build on that success with them and look forward to integrating under the Independent Artist Group banner.

“We are excited to grow our music touring footprint especially with APA’s roster of urban and comedy artists, which augments what we have built at AGI. The combination of artists, agents and offices provides us with a tremendous platform with exciting growth possibilities in the touring and crossover space, which is our plan.”

“This new partnership with AGI and our rebrand to Independent Artist Group is another major step that elevates us within the agency landscape”

The deal brings APA clients such as 50 Cent, 2 Chainz, Fetty Wap, Deep Purple, Mary J Blige and Lauryn Hill, and AGI’s roster, which includes the likes of Billy Joel, Rod Stewart, Smashing Pumpkins, Linkin Park, Metallica, Noel Gallagher, Motley Crue, The Strokes and Iggy Pop, under one roof.

“Dennis Arfa and his exceptional colleagues at AGI are revered in the industry, having built a spectacular artist roster and a sterling reputation,” says Osborne. “The great news is we have already established a tremendous working relationship with them through shared representation on some of their most valued artists. This new partnership with AGI and our rebrand to Independent Artist Group is another major step that elevates us within the agency landscape.”

Deadline reported last week that APA head of music Bruce Solar would be departing the agency alongside a number of other agents. Paquin Artists Agency announced the acquisition of APA’s Canadian business earlier this month.

Yucaipa also has interests in London-based agencies X-ray Touring, ITG and K2, US promoter Danny Wimmer Presents and agency Day After Day Productions, and Spain’s Primavera Sound festival, as well as management company LBI Entertainment and sports agencies ISE and Steinberg Sports.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

US agencies play down merger talk

APA (Agency for the Performing Arts) has played down talk of a merger with fellow US talent agency Artist Group International (AGI).

New York’s AGI is owned by the Yucaipa Companies, the private-equity group controlled by billionaire investor Ron Burkle, which made a strategic investment in Los Angeles-headquartered APA in 2021.

Celebrity Access reports that rumours of the merger have been circulating in the business. However, an APA representative denied a deal was taking place at this time, but noted that the two companies collaborate closely.

The report notes that any agreement would be complicated by AGI’s relationship with other firms such as London-based X-ray Touring

The report notes that any agreement would be complicated by AGI’s relationship with other firms such as London-based X-ray Touring. X-ray extended its joint-venture partnership with the Yucaipa Companies in 2021, and formed a new strategic alliance with AGI, which was founded by Dennis Arfa in 1986 and is part of Yucaipa’s Y Entertainment Group.

APA represents clients such as 50 Cent, 2 Chainz, Nickelback, Belinda Carlisle, Fetty Wap, Billy Talent, Deep Purple, Manic Street Preachers, Lauryn Hill and Brian Wilson, while AGI’s roster includes the likes of Billy Joel, Rod Stewart, Linkin Park, Metallica, Noel Gallagher, Motley Crue, The Strokes and Iggy Pop.

Yucaipa also has interests in two other London-based agencies, ITG and K2, US promoter Danny Wimmer Presents and agency Day After Day Productions, and Spain’s Primavera Sound festival, as well as management company LBI Entertainment and sports agencies ISE and Steinberg Sports.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Q&A: ATC Live’s Alex Bruford’s transparency call

In the most recent issue of IQ, we talk to some of the architects who are helping to shape the industry of the future, to quiz them on their blueprints and predictions for how we may all be operating in a few years’ time. Here, Alex Bruford, founder and MD of ATC Live agency, maps out a route towards a future-proof live music business.


IQ: The cost-of-living crisis has emerged as yet another threat to live music. How can agents work with their clients to keep ticket prices affordable for fans?
AB: By exercising restraint, being sympathetic to the requirements of the audience, and considering our business as a whole. We hear a lot about maximising gross potential and not leaving any money on the table. But I believe we have to be cognisant of the wider ecosystem producing the artists who now make the money. In my view, the more money individual shows or tours take out of the market, the less there is for others, especially newer artists.

Be sensible on ticket pricing, and if using dynamic or platinum, set upper limits that are fair to the customers, not just driven by inflated secondary demand. Having a clear and open dialogue with the artists on pricing is important – some of our artists request reduced ticket prices for low-income earners or to scale their shows across a broad range of price points to ensure there is a category for all. Similarly, with dynamic or platinum, ensuring the artist understands how it works and that they are happy with upper-limit decisions is crucial.

We have to acknowledge the huge rise in touring costs for the artists. But rather than just raising the ticket [price], we should be having an open discussion with artist and management about what can be done to reduce costs to make the touring more viable.

“We need festivals to be paying a fair fee, not relying on artists taking a hit because it’s a good look”

A-list acts seem to be doing bigger business than ever at arena-and stadium-level. What more can be done by the live music industry to support and develop the next generation of headliners whose club and theatre gigs may not be selling out?
We need to leave some money in our customers’ pockets so they can still go and see the up-and-coming acts after they’ve bought their expensive red-hot tickets that are going to sell out.

Also, we need the next generation to be able to supplement their tour costs by getting 100% of their merch sales, not 75% of it.
We need to not be enforcing touring and festival exclusivities on newer artists whose other summer shows will have very little impact on the major event(s) but will likely fund their entire year as an artist. We need festivals to be paying a fair fee, not relying on artists taking a hit because it’s a good look.

By securing external sponsorship and funding, MVT’s Revive Live team [in the UK] does an incredible job of supplementing tour costs and allowing new artists to play shows they wouldn’t normally be able to play. Some of my artists performed extensive grassroots tours as a direct result of this support, and it would be fantastic to see more initiatives like this.

For the most part, the live music industry did very well to survive pandemic lockdowns, but now that business is returning to something approaching normality, what long-term strategies should everyone be looking at to ensure the post-Covid landscape is a healthy environment that can attract new professional talent?
For me, the people who make up this business are everything. It doesn’t matter if you are day-one work experience or head of a multinational, all people should be valued, respected, supported, and encouraged to grow. Workplaces where this happens are usually healthy and positive working environments. People want to give their all and stay in the business long-term in these environments. Having lost so much talent during the pandemic, we need to support the next generation coming into the business and ensure they – and their skills – stay in music.

“We won’t have an equitable and future-proof live music business that can support our rising stars until we achieve transparency across the board”

What needs to change about the live music business in the short-and medium-term?
The live music business only exists because of the artists who create unforgettable moments on stage. We must cherish and support those artists.

To continue to do this over the long-term, I believe we have to fix many of the broken and old-fashioned models that this industry runs on. We need artists to be paid a fair share of the entire show gross, not just the ticket gross. Aside from a handful of the biggest artists in the world, there is no transparency at all on the multiple revenue streams that are generated from an artist’s headline performance. Booking fees; venue levies; food and beverage income; merch commission; parking charges; and other revenue streams are all being generated solely because the artist is performing. Yet 99% of the time artists are not sharing in this at their own headline concerts. We need an industry that is transparent, not one that works on concealed rebate payments.

How can we have a transparent discussion about what is a fair share for everyone, artist, promoter, venue, when there is no transparency on total show revenue? We won’t have an equitable and future-proof live music business that can support our rising stars until we achieve transparency across the board.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Agent Ed Thompson joins ATC Live

ATC Live have welcomed agent Ed Thompson to the company.

Thompson joins from Free Trade Agency and brings with him a roster including Jungle, Iron & Wine, Car Seat Headrest, Kero Kero Bonito and Pigs Pigs Pigs Pigs Pigs Pigs Pigs.

A live agent for the past 14 years, Thompson has worked with Jungle from their very first show, and saw the band sell 29,000 tickets in London in 2022 on their most recent album campaign, including a headline show at the South Facing Festival in Crystal Palace.

“I am thrilled to be joining the team at ATC Live,” says Thompson. “I have always admired how they do business and their incredible track record of spotting and developing new acts.

“I’m looking forward to getting stuck in and working with their teams to carve out exciting new opportunities for both new and existing clients. It’s a great move for me and my artists and I can’t wait to get started.”

“Ed’s artists and ethos are perfectly aligned with those of ours”

ATC Live currently represents more than 400 artists, with a team of 35 across offices in London, Glasgow and Paris.

“We are delighted to welcome Ed to ATC Live. Ed is a superb agent who curates and represents his roster of artists with care, creativity and a strategic approach that comes from 14 years of agency experience.,” adds ATC Live MD Alex Bruford. “Ed’s artists and ethos are perfectly aligned with those of ours, so we couldn’t be happier that he has chosen to join us at ATC Live.”

The agency’s roster includes acts such as as Nick Cave & The Bad Seeds, Fontaines DC, The Lumineers, Yard Act, Metronomy, PJ Harvey, Jamie Webster, Big Thief, Black Country New Road, Black Midi, Aldous Harding, Georgia, Special Interest and Amyl & The Sniffers.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.