BILLBOARD COUNTRY UPDATE APRIL 13, 2020 | PAGE 4 OF 19 ON THE CHARTS JIM ASKER [email protected] Bulletin SamHunt’s Southside Rules Top Country YOURAlbu DAILYms; BrettENTERTAINMENT Young ‘Catc NEWSh UPDATE’-es Fifth AirplayJULY 8, 2020 Page 1 of 19 Leader; Travis Denning Makes History INSIDE How Major Music Companies Sam Hunt’s second studio full-length, and first in over five years, Southside sales (up 21%) in the tracking week. On Country Airplay, it hops 18-15 (11.9 mil- (MCA Nashville/Universal Music GroupAre Nashville), debutsDepending at No. 1 on Billboard’s lion audience on impressions, Debt up 16%). and Credit Top •Country Music StreamingAlbums chart dated April 18. In its first week (ending April 9), it earnedand 46,000 Sales Rebound equivalent album units, including 16,000 in album sales, ac- TRY TO ‘CATCH’ UP WITH YOUNG Brett Youngachieves his fifth consecutive cording— toWill Nielsen Concerts Music/MRC Data. to Weatherand total Country the Airplay Pandemic No. 1 as “Catch” (Big Machine Label Group) ascends SouthsideFollow Suit?marks Five Hunt’s second No. 1 on the 2-1, increasing 13% to 36.6 million impressions. chartKey and Insights fourth top From 10. It follows freshman LP BY GLENN PEOPLES Young’s first of six chart entries, “Sleep With- MontevalloNew Nielsen, which Music/ arrived at the summit in No - out You,” reached No. 2 in December 2016. He MRC Data COVID-19 vember 2014 and reigned for nineOn weeks. March To date,12, as the coronavirus spread from Europe Others wantfollowed an insurance with the policy multiweek against No. disturbances1s “In Case You MontevalloReport has earned 3.9 million units, with 1.4 Didn’t Know” (two weeks, June 2017), “Like I Loved million in album sales. and Asia to the United States, Live Nation, joined by in their cashYou” flows. (three, In Januaryeither 2018),case, few “Mercy” businesses (two, August will Montevallo• Eminem’s has Publisher spent 267 weeksAEG on the and list, major tying agencies, took the unprecedented get through2018) 2020 and and “Here 2021 Tonight” unscathed. (two, April 2019). Luke BryanSues ’sHarry Crash Fox My Party as thestep sixth-longest- to recommend that tours be postponed, setting in Key takeaways:“Catch” completes his longest journey to No. 1, Agency, Alleging running titles in the chart’s 56-yearmotion history. a chain of events that has reshaped the global 1. Music companieshaving taken raised 46 weeks $3.3 to billion reach the in liquidityapex. It out - It Conspired With On the all-genre Billboard 200,music Southside business. ar- Just one week later, credit ratings since Marchpaces to help the 30-weekweather climb the COVID-19 of “Here Tonight.” pandemic. rivesSpotify at No. to5, awarding Skimp on Hunt his second top 10 On Hot Country Songs, “Catch” pushes 7-5 for HUNT YOUNG after the No.Royalties 3-peaking Montevalloagency. Moody’s downgraded Live Nation’s debt on 2. Some companiesa new high. could face defaulted on long- Hunt first released the EPX2C expectations, which debuted a downturn in touring would “materially term debt if debt holders hadn’t eased terms to • Thanks to and peaked at No. 5 on Top Countryweaken” Albums the company’s in August 2014.2020 Followingfinancial results.COMBS Live ‘DOES’ accountIT AGAIN for Luke shocks—some Combs’ “Does severe—to to Me” (River revenue House/Columbia and ‘Hamilton,’ Live Montevallo, Between the Pines: Acoustic Mixtape started at its No. 7 high in Nashville), featuring Eric Church, ascends 11-8 on Country Airplay, up 10% to Capture Could Nation moved quickly, announcing a $500 million earnings. November 2015. 24.7 million in audience. The song is Combs’ eighth straight career-opening Be Broadway’s Next cost-reduction plan — including furloughs, layoffs 3. Large companies have it relatively easy. Small Montevallo produced five singles, four of which hit the pinnacle of Country top 10, following a record run of seven consecutive out-of-the-gate, properly Act Airplay: “Leave the Night On,” “Takeand executive Your Time,” pay “House cuts — Party” as well and as “Make better debtpromoted terms No. 1 singles.companies, such as independent music venues, can’t on April 13. access capital markets and have sought help from You Miss• WhyMe.” NYC’s“Break Up in a Small Town” peaked at No. 2. Church adds his 15th Country Airplay top 10. HuntEntertainment co-penned all 12 songs onIt Southside was a remarkable, including 32-day “Body Likespan a —Back and there would Congress. Road,”Commissioner which was released Sees in 2017.be more The smash to come hit ruled. Country Airplay for THAT TOOK QUITE4. ‘AThe FEW’ biggest MONTHS companies Travis Denning that employ shatters tens the ofrecord thou for- threeReopening weeks and theMusic airplay-, streaming-In business, and sales-based unencumbered Hot Country cash Songs is always the king. most But weeks sandsit has taken of people to penetrate have enough the Country liquidity Airplay to topget 10 through as “After chart for a then-record 34 frames. It now ranks second only to Bebe Rexha and a Few” (Mercury Nashville) climbs 12-10 in its 57th week, up 4% to 21.4 mil - Venues as a Chance in a pandemic, debt and credit are the next best things. 2020, but time will tell if they’ve become over-lever- Floridato Rethink Georgia a ‘Flawed’ Line’s “Meant to Be” (50 weeks atop the latter list in 2017-18). lion in radio reach. Faced with a once-in-a-lifetime economic nosedive, aged. “Downtown’sSystem Dead,” which is also on the new set, reached Nos. 14 and 15 The song surpasses two tracks that took 50 weeks each to enter the top 10: on Hot Country Songs and Countrymany Airplay, music respectively, companies in are June turning 2018. “Kin to debt- andEaston credit Corbin ’s “ASince Girl Likemid-March, You,” which nine reached companies No. 10 thatin January work 2018 in mu be-- folks”• ledNielsen Country to Shed Airplay on Feb.to sustain 29, becoming themselves Hunt’s through seventh No. the 1. coronavirus It hit fore crisis. peaking at No.sic 6 — that Live February, Nation, and iHeartMedia, Aaron Watson Warner’s “Outta Music Style,” Group, which No. 3 on3,500 Hot Country Jobs in Songs. Some companies need every dollar to surviveachieved until the its No.CAA, 10 high WME, in December Ryman 2017. Hospitality, Cumulus, Entercom LatestRestructuring single “Hard to Forget” jumps 17-9 on Hot Country Songs. It’s his “After” is Denning’s second Country Airplay entry. “David Ashley Parker concert or advertising businesses return to normal. (continued) eighth top 10, having corralled 8.2 million U.S. streams (up 96%) and 5,000 in From Powder Springs” traveled to No. 32 in September 2018. ETHAN MICHAEL YOUNG: VIA MARTIN/NHLI GETTY HUNT: IMAGES. IMAGES MILLER/GETTY PROMOTION UPCOMING SPECIAL FEATURES THE GAMING TOP MUSIC ISSUE LAWYERS This special Gaming issue will Behind every artist, songwriter and highlight how artists, labels and music producer is a trusted group of promoters are harnessing major advisers who provide guidance, advice gaming platforms to market their and negotiate deals. Billboard’s 6th music to a larger - and more engaged annual Top Music Lawyers list will - audience. The editorial package recognize the biggest names and most will also spotlight other pioneering prominent legal mindsin the world of companies,executives and innovation music and entertainment law. They at the intersection of music are the deal makers behind the major and gaming. contracts and lawsuits in the music industry. ISSUE DATE: 7/25 AD CLOSE: 7/15 MATERIALS DUE: 7/16 CONTACT: Joe Maimone Gene Smith 212.493.4427 | [email protected] 973.452.3528 | [email protected] Ryan O’Donnell Marcia Olival +447843437176 | [email protected] 786.586.4901 | [email protected] Lee Ann Photoglo Debra Fink 615.376.7931 | [email protected] 213.448.5157 | [email protected] Cynthia Mellow 615.352,0265 | [email protected] BBHA_UPCOMING_ISSUE_2020_GAME&LAWYERS.indd 1 5/27/20 2:38 PM Page 3 of 19 IN BRIEF and Stingray — have condensed years of In normal times, healthy companies rou- the coronavirus as a regional threat in a financial deals into three frenzied months tinely use debt to fund operations or make February earnings call.) By April, the sum- that collectively added $3.3 billion in acquisitions, using the interest expense to mer concert season was being read its last liquidity: $1.8 billion from notes sales, $630 lower their taxes. Compared to stocks, eas- rites. S&P Global Ratings followed Moody’s million from new loans, $197 million drawn ily traded and discussed 24/7 on business with a downgrade of Live Nation on May 13. from existing credit lines, $670 million of television channels, debt is a mysterious S&P also downgraded HeartMedia on April new credit and $11 million from an asset financial instrument. Companies’ announce- 1 and Endeavor, owner of power agency sale. In addition, two companies saved cash ments of notes sales and new credit facilities William Morris Endeavor, on April 13 for its by nixing planned acquisitions: Live Nation aren’t as attention-grabbing as stock market $4 billion-plus debt to Silver Lake Partners canceled its $480 million acquisition of IPOs. But debt and credit will be vital for and other private equity firms. Fortunately Mexican promoter OCESA — the companies getting companies — especially ones tied to for Live Nation, most of its $5 billion of are currently in arbitration — and Ryman advertising and live music — through the debt is due after 2025; $550 million of notes Properties backed out of a $283 million rocky road ahead.