A major court ruling last month found that SoundExchange doesn’t have the power to collect royalties through litigation. Now, the organization has launched an appeal in hopes of preserving this enforcement strategy.

SoundExchange’s notice of appeal on Friday (Sept. 5) challenges an August federal court ruling that dismissed its $400 million lawsuit against SiriusXM. Judge Naomi Reice Buchwald held in her decision that SoundExchange, a nonprofit designated by the Copyright Royalty Board to collect performance royalties for artists, does not actually have the right to sue anybody under federal law.

This ruling was the first to weigh in on SoundExchange’s standing to collect recorded royalties via lawsuits, and the implications are big. For more than a decade, the organization has regularly used litigation to secure hundreds of millions of dollars in royalties from radio broadcasters like SiriusXM and music streamers such as Slacker and Napster.

Already, music companies are trying to use Judge Buchwald’s ruling in their favor. Just weeks after the decision came down, Sonos told a court that it will file a motion to dismiss its own pending SoundExchange royalties lawsuit based on the rationale in the SiriusXM case.  

Faced with the possibility of losing a key enforcement strategy, SoundExchange is standing firm and using an appeal to go on the offensive. The group wants the Second Circuit Court of Appeals to reverse Judge Buchwald, calling the decision an “erroneous ruling and flawed interpretation” of the Copyright Act in a statement on Friday.

“As Congress surely realized in creating the statutory license, some licensees will seek any available means to avoid paying artists for the full value of their work to maximize profitability,” said SoundExchange in the statement. “For the statutory license to function properly, SoundExchange fully believes Congress intended that the ‘enforcement’ power clearly granted in the statute must necessarily include the ability of its administrator to bring litigation claims when digital music services fail to meet their obligations under the law.”

“In the meantime,” continues the statement, “SoundExchange will continue in its mission of securing fair compensation for artists and rights owners and looks forward to arguing its case in court.”

A rep for SiriusXM did not immediately return a request for comment on the appeal.

The SoundExchange lawsuit against SiriusXM, brought in 2023, accused the satellite radio giant of “gaming the system” with manipulative bundling to withhold more than $150 million in performance royalties up to that point.

SoundExchange says SiriusXM has continued to apply this “faulty methodology” in the years since and now owes more than $400 million to artists and labels. SiriusXM denies all of SoundExchange’s claims.

Sphere Entertainment Co. was the top-performing music stock for the second consecutive week after gaining 7.8% to $48.90 for the week ended Sept. 5. 

After rising 6.8% the previous week, Sphere Entertainment rode continued enthusiasm for the revamped The Wizard of Oz that debuted at Sphere on Aug. 28. On Wednesday (Sept. 3), the stock reached a 52-week high of $49.98 after the company announced it repurchased $27.5 million of common stock, putting it within reach of its all-time high of $51.19 set in February 2021.   

German concert promoter CTS Eventim was the No. 2 music stock of the week, rising 5.5% to 84.45 euros ($98.99). On Tuesday, Rothschild & Co. upgraded CTS Eventim to a “buy” rating and lowered its price target to 105.00 euros ($123.08) from 109.00 euros ($127.77). 

Spotify was No. 3 after gaining 3.6% to $707.19. On Wednesday, Guggenheim reiterated its “buy” rating and $850 price target for Spotify while making the case that the company’s ability to raise prices will help it “exceed current consensus estimates” in 2026 and beyond. Although Spotify is well below its all-time high of $785.00 set on June 27, it has gained 51.6% this year, making it one of the best-performing music stocks. 

The 19-company Billboard Global Music Index (BGMI) rose 1.7% to 3,301.18, bringing its year-to-date gain to 42.7%. A dozen of the index’s stocks gained value during the week while seven lost ground. 

K-pop companies were among the 12 stocks that gained value this week. JYP Entertainment was up 3.4%, raising its year-to-date gain to 10.9%. HYBE improved 1.2%, which improved its 2025 gain to 44.5%. SM Entertainment rose 0.9%, lifting its year-to-date gain to 93.0%. 

Except for Spotify, the BGMI’s largest components had either small gains or modest losses. Universal Music Group rose 0.7% to 24.30; its year-to-date gain stands at 1.6%. Tencent Music Entertainment had a rare down week, falling 0.2% to $24.49 and lowering its 2025 gain to 119.6%. Live Nation fell 1.9% to $163.42, dropping its year-to-date gain to 26.2%. 

Music streamer LiveOne was the week’s biggest loser after falling 20.0% to $0.44. Radio companies iHeartMedia and Cumulus Media dropped 11.4% and 5.9%, respectively. 

Markets finished the week ahead but struggled at the end of the week after a disappointing jobs report showed a smaller-than-expected increase in payrolls and an increase in the unemployment rate. A Bureau of Labor Statistics report on Friday (Sept. 5) revealed that nonfarm payrolls increased 22,000 in August, versus economists’ expectations of 75,000. June’s payroll gain was revised down by 27,000 jobs, while July was revised up by 6,000. The unemployment rate rose to 4.3%. 

In the U.S., the tech-heavy Nasdaq composite index rose 2.6% and the S&P 500 gained 0.2%. The U.K.’s FTSE 100 also gained 0.2%. South Korea’s KOSPI composite index rose 0.6%. China’s Shanghai Composite Index fell 1.2%. 

 

KPop Demon Hunters has shattered records once again. After becoming the most-watched film in Netflix history, standout track “Golden” went on to top the Billboard Hot 100 chart (for three weeks so far). As a film centered around K-pop, this is more than just a box-office milestone; it’s a landmark in the history of the genre itself.

So why has this film resonated so strongly? This can be understood in the same context as K-pop’s global popularity. Throughout its evolution, K-pop has consistently maintained a balance between music, performance and choreography. Performance videos have become almost mandatory alongside K-pop music videos, and every comeback promotion is accompanied by a dance challenge. K-pop is never just the music — it is the music with performance. In the same way, K-Pop Demon Hunters immersed audiences in the visual thrill of choreography fused with music, proving once again the unique power of K-pop performance.

Early in the film, the entrance of HUNTR/X with their track “How It’s Done” shows them skydiving from a plane — an unreal premise matched with daring choreography that instantly pulls viewers into these new characters. Meanwhile, Saja Boys’ “Soda Pop” became a hidden driving force behind the film’s popularity, with its choreography gaining momentum as K-pop idols successively joined the challenge.

Billboard Korea sat down with Lee Jung — choreographer and dancer from THE BLACK LABEL — who created the moves for both “How It’s Done” and “Soda Pop.” Radiating conviction with every word, she said: “The more I dance, the more certain I feel. I really love the phrase ‘Choreography by me’ — it makes me feel alive.” Through conversation with Lee, we gained insight into her global view as a choreographer born in Korea and witnessed the remarkable dedication of creators that sheds light on why K-pop is cherished worldwide.

You mentioned that you were deeply impressed from the very first meeting with the production team.

So much so that the feeling lingered with me for days. At that first meeting, everyone passionately explained why they wanted to make this film, why they needed me, and what they hoped to convey. The energy in their eyes was undeniable. Maybe it’s an optimistic way to think, but I believe when creators speak about their work with that kind of spark, the result can’t help but be great. The moment I heard them, I thought, “I have to do this, and it’s definitely going to succeed.”

Did that conviction grow as the project went on?

Absolutely. After several meetings, I received the music — and it was incredible. That only made my certainty stronger. To work with visionaries was already a blessing, but to have such quality music as the foundation for my choreography… every moment felt like happiness, and it reaffirmed my belief: When someone has that kind of conviction in their dreams, they can’t help but succeed.

The animation format seems to have unlocked even greater imagination in “How It’s Done.”

I remember the meeting vividly. The team told me, with bright eyes, “Imagine the members skydiving from a plane and landing in the concert venue.” In that moment, I felt like I wanted to become someone without limits. The most important part of any stage is how you appear, and with HUNTR/X literally leaping from the sky, the entire scene was already complete in my mind. That’s why the choreography came out more explosive and daring than usual. It wasn’t just adding intensity — it was channeling my full energy and imagination into movements that felt like flying. Even now, recalling it gives me goosebumps.

What was the biggest lesson you took away from a project with so many creators involved?

The countless hours of motion capture across the U.S., the repeatedly refined choreography and music, the character design and storyline — every piece contained someone’s hard work. So many people truly staked everything on this project. I was just one small part, and it was only possible because everyone’s energy came together. Watching that process made me want to someday be the kind of person who can pass along that same energy to others.

You once said: “Street Woman Fighter was the 20-year-old Lee Jung, LISA’s ‘Money’ was the 25-year-old Lee Jung.” By that measure, what does KPop Demon Hunters represent for you?

It’s the three-year accumulation of who I am now. Even though the clip is less than a minute long, it contains all my training, experiences and growth compressed into it. For me, it’s more than just choreography — it’s a record of pride and time itself. And one more thing: Animation is a medium that becomes a lasting memory for someone’s childhood. The fact that K-pop was chosen as its subject shows just how far its influence has grown.

On Mnet’s World of Street Woman Fighter, your choreography for Saweetie’s mission especially stood out when you emphasized the “K-pop sensibility.” In your view, what defines K-pop’s distinctive style?

When the global teams watching our choreography during the mission said, “This really feels like K-pop,” that’s when it hit me: K-pop has truly become a genre of its own. Of course, it’s not easy to logically define the characteristics of a genre — but that’s the nature of art. If someone can recognize it at a glance and say, “That feels like K-pop,” I believe that’s enough. If I may carefully add one more thought, I think what creates that unique sensibility is our “ethnicity.” The linguistic and cultural traits unique to Koreans, along with our rapid pace of development, have all come together to shape K-pop into a genre that resonates globally. In that sense, I feel an immense sense of pride as a Korean.

In K-pop, where visual performance is crucial, what makes for good choreography?

For me, the standard is simple: Good choreography is just really good choreography. It might sound vague, but it’s also the hardest standard to meet. Each year, we must satisfy countless viewers — and if the result elevates the song itself, that’s enough. A good routine must connect seamlessly to the song’s message, communicate intuitively, and still bring something fresh. Striking that balance is difficult, but it’s the choreographer’s task every season.

What do you think makes your choreography distinctive?

I honestly think my work is… tasty. [Laughs] It’s not a lofty phrase, but it captures what I strive for. I always push myself to the point where I feel, “I couldn’t possibly make this better.” When an artist performs my routine and it reaches that undeniable peak, that’s my goal.

Among your past works, which project remains most memorable?

LISA ’s “Money.” It kept the essence of K-pop choreography while breaking molds and trying something new. When I have conviction, choreography comes quickly — and this one I finished in a single day. For me, it reached that level of “no one could do it better.” Thankfully, many agreed, and it earned me the best choreographer award at the 2021 MAMA. Since it was my first win, it remains especially meaningful. And of course, LISA performed it brilliantly.

You’ve said collaborating with various K-pop artists inspires you as a dancer.

Yes. These are people whose jobs involve dance, yet they approach it with such sincerity and passion — sometimes even more than I do. I’ve always seen myself as someone who never slacks, but their energy sometimes astonishes me. In those moments, I realize, “Compromise will never be part of my life.” That drives me to keep pushing forward.

When working with artists with such strong identities, how do you communicate?

I always start by asking what message the song wants to convey. Then I ask the artist how they want to express it. If direct conversation isn’t possible, I check through their company. “How do you want to present this track?” That’s the starting point. I build my interpretation on top of that. Ultimately, the key is finding the shared common ground between the artist, the songwriter, and myself. Once we find it, the choreography comes alive on its own.

Your scope of activity keeps expanding. How would you define yourself now?

I don’t want to be confined by definitions. I’d rather not limit myself to a single word. My biggest question now is: How far can I go with dance? That keeps me excited about my future. I believe I can go beyond even what I imagine.

From your position within K-pop, why do you think the world loves it so much?

One word: conviction. Every artist I’ve worked with had immense self-belief. They have clear visions, never settle, and keep reaching for more. When such people gather, fans can feel that conviction and energy too. That’s why K-pop keeps growing — and why Korean culture has no reason to stop evolving.

You lived in the U.S. during middle school. How has K-pop’s presence changed since then?

It’s incomparable. Back then, it was the time of “Gangnam Style” — a massive global craze. Yet I still had to explain to people who the artist was, where they were from and what K-pop meant. Now? Not at all. When you say “K-pop” or “Korea,”  no explanation is needed. “K” itself has become a brand.

Which global pop artist would you most like to collaborate with on choreography?

BTS. I believe BTS have transcended being just a K-pop group to become something even greater. Collaborating with international artists would of course be meaningful, but when we talk about global music, there’s really no reason to exclude K-pop from the conversation. BTS are the ones who have preserved the identity of K-pop while simultaneously expanding its presence on the global stage. Since I also want to be a creator who proves that K-pop is global, I especially hope to create a stage with them one day.

And what’s next for you?

I’ll always go beyond what anyone imagines of me. [Laughs]

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Dua Lipa is starring in a dramatic campaign film for YSL set to a surprising cover, with Lipa tackling “Think” by the late legend Aretha Franklin.

The campaign, titled “Free at Heart,” dropped last month and focuses on YSL’s best-selling Libre Eau de Parfum fragrance, with Lipa as the face. The resulting film is dramatic and powerful, shot between the hustle and bustle of the city and the stillness of Chile’s Atacama Desert.

Lipa’s cover of Franklin’s track — a top 10 hit on the Billboard Hot 100 in 1968 — is a haunting and stripped-down version that starts slow before evolving into a cacophony of powerful runs and a backtrack that is meant to evoke a liberated feeling — unscripted, untamed and unapologetic. The campaign’s message is clear: Libre women are free at heart. Lipa has been the face of YSL’s Libre fragrance since it launched in 2019.

YSL’s Libre Eau de Parfum is a floral fragrance with notes of orange blossom from Morocco and French lavender. You’ve also got a deep and earthy musk accord in there that gives the fragrance depth. It’s warm and sweet — a bold choice for those looking to up the ante on their florals. It’s an edgier floral, one that doesn’t read powdery or grandma-esque. You can snag a bottle of this Lipa-backed perfume right now at Sephora or Ulta Beauty. A 3.04-ounce bottle will run you $180, but you can also get a travel size, 0.33-ounce bottle for $37.

With the launch of this campaign, note that the iconic perfume is now refillable. The refill costs $152 and comes with 3.4 ounces (100 mL) of product. YSL’s Libre fragrance line also includes Libre Eau de Parfum Intense, Libre Flowers & Flames Eau de Parfum, Libre Le Parfum and Libre L’eau Nue.

If you want to try out the O.G. fragrance, as it compares to the Intense version, both Sephora and Ulta Beauty have a mini duo for just $40. In case you were wondering, the difference lies in the top notes. Libre Intense is much warmer than the original, thanks to notes of vanilla and tonka bean. Since both are Eau de Parfums, they should last on the skin for six to eight hours. The duo would make a great gift for those looking to dip their toes into the expansive world of luxury fragrance, without having to shell out tons of money on a full bottle.

Watch the YSL Libre Eau de Parfum Campaign Film Here

Dua Lipa is currently on her Radical Optimism Tour, which kicks off its U.S. leg Friday night (Sept. 5) with two stops in Chicago.