When Billboard U.K. spoke to Loyle Carner about his impending Glastonbury Festival slot earlier this year, he was rendered speechless. Such is the power of his journey from the festival’s smaller stages to The Other Stage (the second-biggest on site, headlined by himself, Charli XCX and The Prodigy), it puts into perspective his trajectory. Since his 2017 debut Yesterday’s Gone, Carner has established himself as a key player on the U.K. music scene with an earnest voice that resonates far and wide.

On Friday night (June 27), Carner achieved something of a dream to headline to one of the biggest crowds of his career. Speaking to the crowd, he said that “this is the biggest show we’ve ever done,” as a packed-out field arrived to watch this career milestone. The magnitude of the moment wasn’t lost on him, and he pulled out all the stops, with guests, deep cuts and new songs throughout.

The set comes hot off the heels of his new album hopefully ! which was released last Friday and recently hit No. 2 on the U.K’s Official Albums Chart. The LP was influenced by his love of indie bands such as Fontaines D.C., Big Thief, and The Smiths, and a move away from the DIY hip-hop stylings of his early work. During his set, the album was realized with a new production, a greater focus in weaving in his backing band and evolving his capabilities as a singer, not just as an MC.

These were the best moments from Loyle Carner’s headline set at The Other Stage at Glastonbury.

Following weeks of controversy, Kneecap hit Glastonbury Festival on Saturday (June 28) with one of the weekend’s busiest sets.

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The Northern Irish trio have been at the center of controversy since their Coachella performance back in April. At that show, they displayed a message that read: “Israel is committing genocide against the Palestinian people. It is being enabled by the U.S. government who arm and fund Israel despite their war crimes. F— Israel; free Palestine.”

Historic footage of the band from November 2024 allegedly showing support for Hezbollah – a militant group proscribed terror status in the U.K. – triggered an investigation and eventual charge under anti-terror laws for MC Mo Chara. He appeared in court earlier on June 18, with a hearing set for later this summer. He denies the charge, and says that it is a “carnival of distraction.”

The subsequent fallout has reached the top political office, with U.K. prime minister Sir Keir Starmer saying that he felt it was not “appropriate” for the group to perform at Glastonbury. A number of the trio’s contemporaries, including Massive Attack, Johnny Marr and CMAT, have backed the group in recent weeks amidst a campaign to have the band removed from the lineup.

The trio took the stage at the West Holts stage at 4 p.m. (BST) to a packed-out stage. The field was closed 45 minutes prior to the performance to avoid overcrowding, with thousands flocking to see the group.

The set began with clips of recent global news broadcasts about the band, including footage of Sharon Osbourne calling for them to have their U.S. work visas revoked. Mo Chara took to the stage in a Palestinian keffiyeh, while bandmate Móglaí Bap wore a Fontaines D.C. football shirt – with the Dublin band having continually voiced their support for Kneecap.

“Glastonbury, I’m a free man,” Mo Chara shouted shortly after “It’s Been Ages.” The crowd responded by raising a sea of Palestinian flags, while some festivalgoers let off red and green flares in support. “Has anyone been watching the news lately?,” added DJ Provai before starting a “Free Mo Chara” chant.

After rattling through highlights from their 2024 LP Fine Art, as well as a handful of unreleased tracks, the group referenced their ongoing legal case. “Mo Chara was in the Westminster court this month,” began Móglaí Bap. “He is back in court for a trumped-up terrorism charge. It’s not the first time there has been a miscarriage of justice for an Irish person in the British Justice System.” He then rallied the crowd to show up for Mo Chara’s hearing, which is scheduled to take place on Aug. 20.

Later on, Mo Chara acknowledged Glastonbury Festival and its owners, the Eavis family, for standing by them amidst calls for them to be removed from the line-up. “I want to say a big thank you to the Eavis family of Glastonbury. The pressure that the family was under [to drop us], but they stayed strong – fair play to them. The Prime Minister of your country – not mine – said he didn’t want us to play. So, f— Kier Starmer.

“This [legal] situation can be quite stressful for us at times. But the stress that we are feeling is minimal in comparison to what the Palestinian people are going through every single day. We are from West Belfast, a place that has experienced occupation. We understand colonialism and we understand how important it is to have international solidarity.”

The rapper also went on to discuss Ireland’s complex history of occupation by the United Kingdom and the country’s resulting political landscape. “The Irish suffered 800 years of colonialism under the British state,” he said. “But we were never bombed from under the skies with nowhere to go. The Palestinians have nowhere to f—ing go – literally. Not only are they being bombed from the skies, they are being starved to death in this day and age. I don’t have to lecture you people; we are all watching it, we all have a phone.”

He continued: “I can see the amount of Palestinian flags here and it is insane. The BBC editor is going to have some job [editing them out]. Sometimes we feel helpless, sometimes we feel like we aren’t doing enough and that is probably true sometimes – but this is about difference it makes to people in Palestine when they see this many people on the other side of the world screaming ‘Free Palestine’. I am so f—ing proud of all of yous.”

The band later thanked the Glastonbury crowd for their support, alluding to how the ensuing controversy has seen numerous live shows and festival appearances cancelled, as well as the band being dropped by their booking agent.

“Believe me, I know firsthand what happens when you speak out about Palestine in this industry,” said Mo Chara as the set drew to a close. “I spoke at Coachella and everyone in that f—ing tent agreed with me. The US media do not want to believe that young Americans agree with us; young people around the world know what’s going on.”

The band’s set was removed from the BBC’s livestream schedule, but earlier on Saturday it was confirmed their set would later be uploaded to the channel’s iPlayer service.

Glastonbury Festival saw sets from The 1975, Lorde, Lewis Capaldi and more on Friday (June 27) with Neil Young, Charli XCX, Olivia Rodrigo and more set to perform over the rest of the weekend.

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Neil Young makes a rare appearance this weekend at the Glastonbury Music Festival, and if you aren’t able to make it to the Somerset, England event in person, there are a few ways to livestream Glastonbury online.

Glastonbury kicked off Friday with performances from Lorde, The 1975 and a surprise return to the stage from Lewis Capaldi, who was back on the big stage after taking time off to manage symptoms from his Tourette’s syndrome.

Saturday’s lineup includes Young, along with Charli XCX, Raye, Doechii, Deftones and Father John Misty, among others. The UK festival wraps up on Sunday with headlining performances from Olivia Rodrigo, Noah Kahan and Prodigy.

Perhaps the most anticipated artist is Young, who is still performing at the age of 79. The BBC is the official broadcast and streaming partner of Glastonbury, and it confirmed late Friday night that it would indeed be streaming the rocker’s set, after previously leaving his name off the schedule.

Want to livestream Neil Young’s Glastonbury set? Here’s how to watch Glastonbury live online for free.

How to Stream Glastonbury 2025 Online

Glastonbury 2025 will be streaming free this year on BBC iPlayer, which is the BBC’s official streaming site. There will also be festival coverage on BBC One, BBC Two, BBC Three, BBC Four, BBC Radio and BBC Sounds.

If you want to stream Glastonbury outside of the UK, simply use a virtual private network (VPN) to access BBC iPlayer. We like ExpressVPN, which lets you set the location of your phone or computer to the United Kingdom. Once you’ve changed your location settings, you can head to the BBC site to livestream Glastonbury 2025 from anywhere in the world for free.

ExpressVPN plans start from just $4.49/month and the site is backed by a 30-day money-back guarantee. ExpressVPN is our recommended way to stream Glastonbury from the U.S. In addition to letting you watch Neil Young, Olivia Rodrigo and others from the festival, you can use your VPN to stream shows and movies from other countries around the world (I.e. Netflix Korea for K-pop coverage and K-Dramas).

How to Watch Glastonbury 2025 Online In the U.S.

NordVPN, meantime, is one of the fastest virtual private networks and let you sync up to ten accounts at a time. You can also use NordVPN to watch Glastonbury 2025 online from outside the UK.

NordVPN pricing starts at just $4.39/month and a current promotional offer gets you a free $20 Amazon gift card with sign-up. Get a NordVPN package here and use it to stream Glastonbury on the BBB iPlayer from the U.S.

Nord also offers a 30-day money-back guarantee. See full details here.

From career milestones to new music releases to major announcements and those little important moments, Billboard editors highlight uplifting moments in Latin music. Here’s what happened in the Latin music world this week.

Karol G’s Documentary Played at Women’s Prison

Karol G’s Con Cora Foundation hosted screenings of the star’s Tomorrow Was Beautiful documentary for the women of El Pedregal prison in Medellín, Colombia. The initiative, according to a press release, “aimed to create a safe and uplifting space for reflection, inspiration and community among women deprived of liberty.”

The event featured two screenings of the documentary, accompanied by an educational moment centered around self-care. “Through the Con Cora Foundation, we’re proud to carry on our founder’s mission to uplift and empower women,” Valentina Bueno, executive director of Con Cora Foundation said in a statement. “With the support of partner organizations, we are able to share this story — one of resilience and hope — with these women, hoping to inspire them to dream big and to chase their dreams, because we believe they can make them into a reality.”

Prince Royce Crashes Zumba Class

Eos Fitness in Kendall, Miami got a surprise visit from Prince Royce when the bachata star crashed one of the Zumba classes this week. Those in attendance were working out to “Dancing in the Moonlight,” part of Royce’s Eterno album, when he joined them in class and danced with a few lucky Zumba students. He also snapped a few selfies with those that approached him with phone in hand.

Check out the special moment below:

Felix Contreras Special Award

The Hispanic Heritage Foundation announced that NPR’s Felix Contreras (Alt.Latino) will receive the 2025 Hispanic Heritage Award for Journalism at the 38th Annual Hispanic Heritage Awards. The ceremony will take place Sept. 4 at the Warner Theater in Washington, D.C. Contreras has dedicated over 40 years to reporting and producing TV news, radio, online and streaming journalism.

“Through his remarkable journey, he hasn’t just documented our stories but has authentically lived through the rhythms, beats and messages conveyed in the music,” Antonio Tijerino, president and CEO, Hispanic Heritage Awards expressed in a statement. “His passion for music and our community is palpable and musicians, not just his audience, feels it through the interviews, writings and performances. He’s a cultural ambassador who understands his responsibility to share and represent our community through music which fosters a greater understanding and appreciation of who we are as Latinos.”

Boleros de Noche

Boleros De Noche — an annual music event series launched in 2015 by Roberto Carlos as an effort to preserve, uplift, and celebrate Latin American bolero music in Los Angeles — is taking the celebration a bit further. On Friday, the city of L.A. officially declared Aug. 2 as “Día del Bolero.”

Since its launch, Boleros De Noche has presented over 20 concerts at the Ford Theater featuring artists such as Gaby Moreno, Marisoul from La Santa Cecilia and the legendary trio Los Panchos.

Latin Recording Academy Educator Award

The Latin Recording Academy and the Latin Grammy Cultural Foundation announced the launch of the Latin Music Educator Award. According to a press release, the new distinction will honor “one exceptional educator from the global music community who is making a significant impact by incorporating Latin music into their curriculum.”

Applications are now open to educators worldwide currently teaching kindergarten through high school in a public, private or charter school, who speak Spanish, Portuguese, English or any native dialect.

The inaugural recipient will be honored at the Special Awards Presentation during the 26th Annual Latin Grammy Week in Las Vegas in November. “Educators are pivotal in nurturing and shaping the future of Latin music and its creators,” Manuel Abud, CEO of The Latin Recording Academy, said in a statement. “Together with the Latin Grammy Cultural Foundation, we are proud to honor those who ensure the enduring legacy of Latin music.”

While the wider worlds of pop and hip-hop may not have realized it when it was announced earlier this week, the name of Cardi B’s long awaited sophomore album, Am I the Drama?, is suspiciously close to a viral quote from Scarlet Envy’s time on RuPaul’s Drag Race All Stars season six.

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But for the predominantly (if not close to exclusively) LGBTQ revelers at Brooklyn’s annual LadyLand Festival, “am I the drama?” is queer meme canon. So when Scarlet Envy emerged onstage at 1:35 a.m. on Friday night (technically Saturday morning, but who’s counting) to introduce Cardi’s headlining set, absolutely everyone knew why she was there.

“Happy Pride, New York City!” Scarlet shouted, prowling the stage in a shimmering red outfit and gigantic wig. “I’m here every single year — it’s good to be on the stage this year, bitch. My name is Scarlet Envy: I’m the drama,” she said to cheers and finger snaps. “I’m blessed to introduce this performer to you. She’s an icon, she a legend and she’s a hometown hero.”

“Who’s tucking today?” Cardi B yelled at the LadyLand crowd as she rolled up on stage in a black-and-white horizontal-striped jumper. “I’m an old bitch,” she joked. “I have like 100 kids, I’m ready for bed.”

What happened next was not the handiwork of someone with one foot in slumberland: Cardi led the eager crowd through a breathless tour of her biggest hits, despite the growing rain. “Let’s get sexy y’all!” Cardi shouted at the top of her set, perhaps needlessly – the LadyLand attendees, who had been gathering, gyrating, kiki-ing and flirting for hours, were way ahead of her, singing along and shaking ass the moment her tiny frame emerged on the fest’s Fist Stage. (For those interested, “Fist and Resist” keychains were available at the merch table.)

Flanked by two giant inflatable fists with nails even longer than hers, Cardi B delivered hits like “She Bad,” “Money” and her new single, the Offset-eviscerating “Outside,” with the effortless fervor and personality-drenched flow that catapulted her to fame.

“Imma spill some tea, get ready for the tour,” the five-time Billboard Hot 100 topper promised the audience of what was to come. Four of those five chart toppers (“WAP,” “Bodak Yellow,” “I Like It,” “Up”) were accounted for during her show. Despite the persistent rain that gathered strength throughout Cardi’s set, the audience remained undaunted and rapt; after all, it’s not every day you get to see a hip-hop superstar perform under the Brooklyn-Queens Expressway (LadyLand has called Greenpoint’s Under the K Bridge Park home since 2023).

Prior to Cardi B’s headlining set, Ladyfag, the LadyLand founder and a driving force in NYC nightlife, told the crowd about her history with the Bronx-raised rapper. “It’s a full circle moment for me and Cardi,” she explained: back in 2017, before Cardi ascended to mainstream success with “Bodak Yellow,” she performed up at Holy Mountain, LadyFag’s legendary NYC monthly throwdown.

“She got very excited about being with the gays,” Ladyfag recently told Billboard of that February 2017 party. “She was only supposed to do a few songs, but she wouldn’t stop. Within a few months, she became one of the biggest stars in the world — and she always remembered it.” That connection and warmth was obvious on Friday night, with Cardi blowing past her bedtime to give the gays, the dolls and everyone else an experience beyond what any other NYC festival provides.

Saturday (June 28) is the second and last night of LadyLand 2025, with FKA Twigs headlining and performances from Pabllo Vittar, Boris, Eartheater, VTSS, Isabella Lovestory and Kevin Aviance.

Flo Milli is facing a copyright lawsuit over her hit 2023 song “Never Lose Me,” which allegedly sampled a beat that had been exclusively licensed to a man in Baltimore four years earlier.

The Friday (June 27) lawsuit targets Flo Milli (Tamia Monique Carter) over “Never Lose Me,” which peaked at No. 15 on the Billboard Hot 100, as well as Detroit rappers Babyface Ray (Marcellus Rayvon Register) and 42 Dugg (Dion Marquise Hayes) for their 2023 song “Ron Artest,” which Milli sampled on “Never.”

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A man named Shamar Deal, who describes himself as a Baltimore, Md.-based songwriter and recording artist, claims that both “Never Lose Me” and “Ron Artest” infringe his exclusive license to a beat called “Youu” by the producer Gerreaux Katana.

According to the lawsuit, Deal bought “Youu” from Katana via the rap instrumental marketplace Traktrain in 2019. Deal says he was granted an exclusive license to the beat that was supposed to last 10 years.

But Katana allegedly violated this agreement in 2023 by re-licensing “Youu” to Babyface Ray and 42 Dugg, who used it as the foundation for “Ron Artest.” Deal says Flo Milli then sampled “Ron Artest” for “Never Lose Me,” repeating the Detroit rappers’ supposed infringement.

“As plaintiff currently holds the exclusive right to the composition, the incorporation of the composition in ‘Ron Artest’ and ‘Never Lose Me’ constitutes copyright infringement of Deal’s exclusive rights in the composition track,” writes Deal’s attorney Larry Zerner. “Deal brings the current lawsuit to recover damages for the violation of his copyright.”

Deal is seeking at least $1 million from Flo Milli, Babyface Ray, 42 Dugg and Katana. He also names EMPIRE and Sony Music Entertainment as defendants, saying the companies distributed the two songs at issue.

“Never Lose Me” was a chart success in 2023 and 2024, also climbing to No. 2 on Billboard‘s Rhythmic Airplay, No. 5 on Hot Rap Songs, No. 6 on Hot R&B/Hip-Hop Songs and No. 7 on Streaming Songs.

The track has generated 947.5 million on-demand official streams globally, with 531.3 million of those in the United States, according to data from Luminate.

Billboard reached out to all the defendants or their reps for comment on the lawsuit Friday, but did not immediately receive any responses.

Billboard went out to Santa Monica Pier to ask the public what they think the Song of the Summer will be. With Alex Warren’s “Ordinary” reigning at No. 1 on the Hot 100, do Kendrick Lamar & SZA’s “Luther,” Drake’s “Nokia” or Morgan Wallen stand a chance?

What do you think the Song of the Summer will be? Let us know in the comments!

Guest 1:

I feel like, because there’s so much going on in the world, we need to get lit. We want to be outside.

Tetris Kelly:

Like Drake said, where the f— the function? The sun’s out, skin showing, fire up the grill, it’s summertime. And with summer 2025 in full effect, that means artists like Morgan Wallen, Chappell Roan, Doechii, Lady Gaga and Bruno Mars, Kendrick Lamar and more are all vying for the Song of the Summer. The competition is tough, but Alex Warren has come out swinging with his hit “Ordinary.” The track has been holding it down at the No. 1 spot on the Billboard Hot 100. But the summer is just starting, so it’s anyone’s game. We headed over to Santa Monica Pier to find out what song people are feeling. 

Guest 2:

So they asked what the Song of the Summer is. I think I already know. “Nokia,” that’s a bop right there. I love that song. 

Guest 3:

“Anxiety” by Doechii. She’s popping off right now, and she deserves it, and “Anxiety” is fire as h*ll.

Guest 4:

I don’t know. It’s definitely a season for the pop girls still. BRAT season is not yet over. “What Was That?” by Lorde is, like, the best song ever.

Guest 1:

Definitely “Mutt” By Leon Thomas, yeah, that’s the song I play every single day, maybe five times a day.

Keep watching for more!

Glastonbury Festival in Somerset, England, kicked off in earnest on Friday (June 27) with the first full day of programming across the Worthy Farm site.

The festival, which was first held on these grounds in 1970, is a hotbed of musical activity, paired with a fair amount of politics and various creative arts on the sprawling site. It attracts musicians from across the globe and all genres; 2025’s edition is headlined by The 1975, Neil Young and Olivia Rodrigo and features sets from Charli XCX, Rod Stewart, Lola Young, Raye and more.

Over 200,000 punters arrived Wednesday to set up their camps, with a limited lineup on Thursday and electronic music fans soaking up the good weather and an array of DJs on the site’s smaller stages. Marie Davidson, Four Tet, Confidence Man and more all got the party started with their various sets in the site’s raviest corner.

The festival’s fabled secret sets came into play on Friday, with Lewis Capaldi making his return to the stage with his first major performance in several years and Lorde celebrating the release of her new album Virgin with a surprise set at the Woodsies Stage to wake up sleepy festivalgoers at 11:30 a.m.

The 1975 headlined the Pyramid Stage for the first time, bringing a new stage show and pop bangers, while Loyle Carner topped The Other Stage following the release of his fourth LP hopefully !. These were the best moments Billboard U.K. witnessed at Glastonbury Festival on day 1.

Shawn Desman is not back. He’s still here.

“It’s not a comeback, it’s a continuation,” he tells Billboard Canada.

In the past year, the Canadian pop singer has played sold-out shows across the country, signed a lucrative songwriting deal with Anthem Entertainment and popped up all over NXNE with exclusive performances for his most dedicated fans. “Body,” his collaborative track with Jamie Fine, is climbing the Billboard Canadian Hot 100 chart, sitting at No. 87 after five weeks on the chart. It’s a hit on radio too, now in the top 10 of the Canada Hot AC Airplay chart.

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Not bad for a singer who’s been performing for well over 20 years.

Desman was the soundtrack to the childhood and adolescent years of many Millennial and Gen Z-aged Canadians. With bona fide hits like “Shook” and “Electric,” he was a pop radio and MuchMusic mainstay in the early 2000s with the total package — catchy, upbeat songs, hypnotic dance moves and good looks.

He’s had multiple hits, but has been dropped by labels twice, most recently in 2015. 

“It was hard and devastating, and made me hate the business,” he recalls. “Success has many parents, but failure is an orphan. When you’re hot, everybody’s on you and wants to be a part of it, but as soon as something goes wrong and you’re not hot, everybody forgets your number.”

In 2022, after a seven-year break, Desman’s life would change. He received a call from Drake, asking him to perform at the All Canadian North Stars concert at OVO Fest.

The crowd went wild for Desman’s nostalgic hits. Afterwards came a heartfelt moment with Drake that subconsciously prompted his return to music.

“He thanked me and said he grew up watching me perform, and I was a big part of his career, which felt crazy. When you’re young, you’re not thinking about creating a legacy and inspiring people,” he recalls. “He told me the crowd loved me and I needed to start making music again.” 

Read more about his unique comeback here. – Heather Taylor-Singh

Spotify Reports Francophone Music Is One of the Top Genres On The Platform

Francophone music is thriving on Spotify — and Quebec is playing a key role.

Spotify has shared new data that highlights French-language music and content as one of the top-performing genres on the platform. One hundred million global users are listening to French content, according to the report, while French music streams are up 192% since 2019.

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The data follows the release of Spotify’s Loud & Clear streaming report earlier this month. While Francophone music’s reach is global — a staggering 100 million users reside outside of traditionally French-speaking countries, it reported — Quebec is a major amplifier. Nearly half of Quebec Spotify users regularly listen to media content in French, Spotify says.

In May 2025 alone, Quebecers listened to nearly 10 million hours of Francophone music — and the number only continues to go up. The consumption of Francophone content on Spotify has grown almost 20% year over year among local users, boasting 130% growth since 2019.

The province’s Francophone listeners are getting younger, too. Nearly 40% of Quebec-based Spotify users who engage with Francophone content are under the age of 29, which is seen as a powerful signal that the French language continues to resonate deeply with the next generation of music listeners.

That data is translating into dollars. According to Spotify, French music royalties generated globally are up 15% from 2023. This includes many Quebecois artists, whose musical richness appeals nationwide and internationally. Last year, indie artist Patrick Watson’s “Je te laisserai des mots” was the most popular Francophone track on Spotify — and the first French track to surpass a billion streams. The Montreal native’s track was added to over 6.6 million playlists last year, showcasing its global appeal.

Last year, almost the entire top 10 list of the most popular Francophone songs among Quebec’s users on Spotify was performed by Franco-Quebecois acts. Beloved artists like rock band Les Cowboys Fringants, singer-songwriters Watson and Charlotte Cardin and rapper Enima are mainstays on the Spotify charts in their home province.

Read more here. – HTS

Oak View Group Announces New Name for Hamilton, Ontario Arena: TD Coliseum

Hamilton’s splashy new arena project has a new name: TD Coliseum.

When the former FirstOntario Centre was taken over by venue giant Oak View Group (OVG), it was referred to by the generic name of Hamilton Arena.

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The courtship of sponsors is over with the announcement on Wednesday (June 25) that TD Bank Group (TD) has entered into a multi-year naming rights agreement with OVG.

The name TD Coliseum hearkens back to the building’s original incarnation as Copps Coliseum. Built in 1985 for $42 million, the 18,000-capacity arena hosted multiple Juno Awards, major national and international sporting events and concerts from A-list Canadian and international musical stars. It became FirstOntario Centre in 2014 when the credit union of that name paid for naming rights.

The arena is currently undergoing a major transformation under the leadership of OVG, one budgeted initially at $290 million. Construction began in May 2024 and the work is expected to be completed by the end of 2025. The first shows are already booked: Andrea Bocelli (Dec. 9) and Brad Paisley (Dec. 12). TD Coliseum will also host the 55th annual Juno Awards next year, on March 29.

In conjunction with the naming rights announcement, Tom Pistore, president of OVG Canada and a 2025 Billboard Power Player alongside OVG chairman/CEO Tim Leiweke, led a tour of the venue following the announcement this morning.

“Naming rights is always the longest process,” Pistore said. “Sponsorship and finding the right partner is always a challenge, but we know we have a great partner in TD. They’re the sixth largest bank in North America and they share our vision for what this venue is for Hamilton and the Golden Horseshoe.”

Pistore did not give specifics as to the length of this partnership and the dollar figures involved, other than noting “it is commensurate with a $300 million investment” and that the figure exceeds the $350,000 per year paid by FirstOntario over a decade ago. “It is a multi-year significant investment by the bank,” he said.

Read more here. – Kerry Doole

What trade war? Music stocks, as well as the S&P 500 and Nasdaq, closed at record highs on Friday (June 27) despite President Trump’s claim that the U.S. broke off trade negotiations with Canada. 

Spotify set a new record of $785.00 on Friday, briefly valuing the company at nearly $161 billion, and closed at $772.60, up 9.2% for the week. The stock gained 5.4% on Thursday (June 26) after Guggenheim raised its Spotify price target to $840 from $725. On Friday, UBS raised its SPOT price target to $895 from $680 and maintained its “buy” rating. Spotify shares have gained 65.6% year to date and have increased 145.7% over the last 52 weeks. 

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While bullish on Spotify’s long-term potential, Guggenheim lowered its estimates for second quarter revenue and operating income and third quarter gross margin (to 31.2% from 31.5%), and left its forecast for 2025 gross margin unchanged. In calculating a discounted cash flow valuation, analysts lowered the weighted average cost of capital to 7.9% from 8.0% to reflect a lower risk-free rate. (A lower discount rate results in a higher valuation.) Guggenheim analysts also accounted for a stronger euro, which will have a negative impact on Spotify’s reported revenue, as well as social charges related to share price appreciation. 

“Beyond these accounting changes,” Guggenheim analysts wrote in their note to Spotify investors, “our conviction in the mid- and long-term growth opportunity at the global streaming audio leader remains intact with core pricing power, potential tier expansion, expanded delivery of audio formats (led by audiobooks and podcasts) and the early-stage commerce opportunity presented by app-store changes underpinning our confidence.” 

Spotify’s stellar week helped the 20-company Billboard Global Music Index (BGMI) rise 9.1% to a record 3,112.87, exceeding the 3,000 mark for the first time. The index was skewed by a high number of valuable winners and few valuable losers. The BGMI’s six most valuable companies finished in positive territory. HYBE, the seventh most valuable music company on the index, was the most valuable company among the week’s declines. 

Rarely does the index have such a large gain in a single week. The BGMI’s 9.1% improvement was the second-largest one-week gain in the index’s nearly three-year history, behind only a 12.7% gain in the week ended Nov. 11, 2022. Only five music stocks lost value during the week, compared to 13 gainers and 2 that were unchanged.

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Markets around the world finished the week in positive territory. In the U.S., the Nasdaq jumped 4.2% and the S&P 500 rose 3.4%. In the U.K., the FTSE 100 was up 0.3%. South Korea’s KOSPI composite index improved 1.1% to 3,055.94. China’s SSE Composite Index gained 1.9% to 3,424.23.

Sphere Entertainment Co. was the week’s greatest gainer, rising 10.2% to $42.47 after Craig-Hallum initiated coverage with a $75 price target and a “buy” recommendation. The gain erased Sphere Entertainment’s year-to-date deficit and took its 52-week gain to 21.2%. The Sphere venue in Las Vegas is currently hosting a 15-show Kenny Chesney residency and will begin a 21-date run by Backstreet Boys on July 11. 

Universal Music Group (UMG), the index’s second most-valuable component, rose 2.2% to 27.32 euros ($32.02). On Wednesday (June 25), UBS downgraded UMG shares to “neutral” from “buy” but maintained its price target at 30.00 euros ($35.16). UMG boasts a $58.1 billion market capitalization and has gained 14.3% year to date. 

Other record labels and publishers fared well this week. Warner Music Group rose 2.8% to $27.20, which reduced its year-to-date deficit to -12.3%. Reservoir Media improved 1.7% to $7.62, taking its 2025 decline to -9.9%.

Live entertainment companies collectively fared the best of all music stocks, posting an average gain of 4.0%. In addition to Sphere Entertainment’s double-digit gain, MSG Entertainment climbed 5.4% to $40.50, CTS Eventim improved 1.8% to 104.40 euros ($122.37) and Live Nation increased 0.8% to $149.99. 

K-pop companies were an exception to the week full of winners, as each of the four South Korean companies lost value. JYP Entertainment fell 3.0%, YG Entertainment dropped 1.6% and both SM Entertainment and HYBE fell 0.5%. 

The week’s biggest loser was radio giant iHeartMedia, which fell 6.0% to $1.72. With the first half of 2025 nearly over, iHeartMedia shares have dropped 19.2% year to date. 

Billboard Chart Ledger

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Billboard Chart Ledger

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Billboard Chart Ledger

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