iHeartMedia Q2: Podcast Revenue Surges 28.5%, Radio Ad Downturn Persists
iHeartMedia’s Q2 2025 earnings reflect $933.7M in revenue (+0.5% YoY), with podcast revenue reaching $134.3M (+28.5% YoY) and digital audio division revenue up 13.4% to $324M. The company attributes podcast gains to its powerful local sales operation—podcast ad revenue from local sales grew from 14% in 2020 to 50% in Q2 2025. Digital Audio segment EBITDA rose 17.1% to $108M, with margins at 33.2%. The legacy Multiplatform Group (including broadcast radio) saw revenues drop 5.4%. Cost-cutting and modernization initiatives, primarily focused on automation and AI, are on track for $150M in annualized savings. Lisa Coffey was named Chief Business Officer to accelerate digital and programmatic advertising integration.
Slipknot Nears $120M Catalog Sale to HarbourView
Slipknot is reported to be finalizing the sale of its music catalog to HarbourView Equity Partners for $120M. The transaction would represent one of the largest rock catalog deals of the year. Details on whether the sale includes all band member compositions and masters, as well as ongoing royalty arrangements, have not been disclosed. The deal follows continued interest from private equity in music IP, even amid a shifting macroeconomic outlook for deal-making and catalog accrual strategies.
Black Promoters Collective On Track for $100M+ in 2025 Revenue
The Black Promoters Collective, the nation’s largest Black-owned live entertainment company, projects revenue in excess of $100M for 2025, supported by successful national tours and partnerships with legacy artists, brands, and major events. The group coordinates and produces concerts and events for genres including R&B, hip-hop, and gospel across major U.S. markets. This milestone comes amid a broader rebound in the live music/touring sector post-pandemic, as well as expanded collaboration with major sponsors.
Senators Ramp Up FTC Pressure on Spotify Bundling Over Royalty Fallout
A bipartisan group of U.S. Senators has requested an FTC investigation into Spotify’s reclassification of subscriptions: as of 2024, most of its U.S. base was automatically migrated to “bundled” music + audiobooks plans with higher sticker prices and a lower per-subscriber royalty rate for songwriters/publishers. Industry estimates place lost royalties for rightsholders at $230M over the past year. Several songwriter and publisher organizations have filed related complaints, and Spotify maintains the change is both legal and consumer friendly.
Major Labels vs. Suno/Udio: “Fair Use” AI Training at Center of $150k-Per-Work Lawsuit
Sony Music, Universal, and Warner have sued generative AI startups Suno and Udio, alleging that their music generation models rely on unlicensed copyrighted recordings as training data. In their defense, Suno and Udio contend that the ingestion of copyrighted works for model training constitutes “fair use” and is not direct infringement; these filings follow $125M in recent AI music startup funding. The RIAA characterizes the case as precedent-setting for AI-copyright boundaries.
Luminate 2025 Midyear: Streaming Up 10.3%, Superfan Spending Dominates
According to Luminate’s midyear report, global audio streaming increased 10.3% YoY in H1 2025, with superfan cohorts representing an outsized share of paid subscriptions, merchandise, and event revenue. Catalog (older song) consumption has grown, and genre fluidity is rising—with significant gains in Latin, afrobeats, and alternative R&B. Major DSPs have increased analytics offerings to segment and target superfans and genre-specific behaviors.
Streaming’s “Two-Tier” Royalty Rules and Crackdown on Artificial Plays
Streaming platforms are further enforcing “two-tier” royalty models, in which songs with fewer than 1,000 streams per payment period are ineligible for mainstream royalty pools, redistributing earnings to higher-performing songs. Spotify and other services have accelerated “artificial stream” detection and penalty programs, withholding payments and issuing fines to labels/distributors for suspected manipulation. Many artists and indie labels report sudden track removals and unclear appeals processes.
Tyla and Sony Face New “Water” Production Credit and Royalty Lawsuit
Producers Jackson LoMastro and Olmo Zucca have refiled suit against Sony Music and artist Tyla, claiming they were denied producer credits and fair royalty splits for the R&B hit “Water.” The suit details allegations of misleading contract terms and “patterned concealment” by other credited parties. The prior lawsuit was withdrawn on procedural grounds, and the new action seeks expanded damages and assignment of full publishing splits. The litigation places renewed attention on credit/royalty transparency for global R&B tracks.
Songwriters Win Key Copyright Ruling on Termination Rights and Streaming Royalties
The U.S. Copyright Office issued an updated policy enabling songwriters who have successfully reclaimed copyright via termination to collect streaming mechanical royalties themselves, overriding some prior publisher contracts. This is expected to shift mechanical streaming revenue directly to legacy writers and especially benefits those who terminate old agreements after the statutory period.
Napster Faces $9M+ Royalty Lawsuit from Sony Music
Sony Music has sued Napster and owner Infinite Reality for over $9.2M in allegedly unpaid royalties related to U.S. licensing agreements. The suit covers a multi-year reporting period and follows broader scrutiny of royalty practices at smaller and legacy music services, especially as catalogs change hands in major publishing transactions.
Music Publishers and X (Twitter) in Settlement Talks Over Copyright Lawsuit
Seventeen major music publishers are in ongoing settlement negotiations with X (formerly Twitter) to resolve a 2023 copyright lawsuit alleging “widespread infringement” of music content on the platform. The court has paused proceedings for 90 days to allow both sides to reach a potential agreement, which could set a model for future digital platform and publisher settlements.
Chord Music Raises $2B More for Music Catalog Acquisitions
Chord Music Partners has secured upwards of $2B to expand its portfolio of music copyrights, reinforcing the momentum of financial-sector investment in music publishing and IP. The fund’s new capital will target a mix of contemporary and classic catalogs globally, underscoring resilience in music asset valuations.
Brandon Creed Launches Good World Management after Full Stop Departure
Artist manager Brandon Creed, known for working with major acts such as Bruno Mars and Troye Sivan, has left Full Stop Management to launch Good World Management. The firm aims to focus on emerging international pop and R&B talent, offering specialized creative and career development support.
John Lashnits Joins Sound Talent Group, Expanding Agent Movement
Veteran booking agent John Lashnits has joined Sound Talent Group, continuing the trend of realignment and competition in the live music representation sector. Lashnits previously worked at other major talent agencies and brings with him a roster of notable clients, signaling continued volatility and deal flow in the agent/management landscape.
Marsha St. Hubert Elevated to Co-President of 10K Projects, EVP at Atlantic
Atlantic Music Group has promoted long-serving executive Marsha St. Hubert to co-president of 10K Projects, while she also retains EVP duties at Atlantic. St. Hubert is recognized for her work launching and scaling careers for many prominent hip-hop and R&B acts, and will guide both labels’ A&R and strategic marketing.
James Cerreta Named President, US/Canada for Peermusic; Maxfield Frieser to CEO at Infamous PR
James Cerreta has been appointed president of US/Canada at indie publisher Peermusic, where he will oversee signing, administration, and creative development. Separately, Infamous PR, a leading publicity firm for festivals and artists, has promoted Maxfield Frieser to CEO, tasking him with global expansion and digital communications growth.
AFROJACK Signs to Shalizi Group; Matt Aiello & Albert Qiu Join Raw Material
DJ/producer AFROJACK has joined The Shalizi Group for management representation, aligning with a team that includes Marshmello and Alesso. Additionally, Matt Aiello and Albert Qiu have joined indie management and publishing company Raw Material, bolstering the company’s roster and market presence in artist development and creative rights.
