WASHINGTON (AP) — President Donald Trump said Friday (Feb. 7) that he is firing members of the board of trustees for the Kennedy Center and naming himself chairman.

He also indicated that he would be dictating programming at one of the nation’s premier cultural institutions, specifically declaring that he’d put an end to events featuring performers in drag.

Trump’s announcement came as the new president has bulldozed his way across official Washington during the first weeks of his second term, trying to shutter federal agencies, freeze spending and ending diversity, equity and inclusion initiatives across the government.

“At my direction, we are going to make the Kennedy Center in Washington D.C., GREAT AGAIN. I have decided to immediately terminate multiple individuals from the Board of Trustees, including the Chairman, who do not share our Vision for a Golden Age in Arts and Culture,” Trump wrote.

“We will soon announce a new Board, with an amazing Chairman, DONALD J. TRUMP!”

Unlike former President Joe Biden and other commanders in chief through the decades, Trump did not attend the annual Kennedy Center Honors ceremonies during his first term, held at the performing arts venue in Washington’s Foggy Bottom neighborhood that opened in 1971.

Shortly after Trump’s post, the Kennedy Center website began experiencing technical difficulties. Visitors got a message reading “We are experiencing high traffic” and were redirected to a “waiting room” that listed how many hundreds of people were trying to access the site ahead of them.

Trump suggested in his post that he would be implementing some changes to the center’s performance schedule, noting that last year “the Kennedy Center featured Drag Shows specifically targeting our youth — THIS WILL STOP.”

According to its website, the center in July hosted a preshow titled “A Drag Salute to Divas” and a November “Drag Brunch.”

In his post, Trump did not clarify which board of trustee members he would be terminating besides the current chairman, philanthropist David Rubenstein. The board often features political powerbrokers and major donors, and is currently made up of members from both sides of the aisle.

Rubenstein was first elected to the post in 2010 and reelected each year since that time. Also, the principal owner of the Baltimore Orioles, Rubenstein was originally appointed to the Kennedy Center board by President George W. Bush and subsequently reappointed by President Barack Obama and Biden.

The current board features Biden’s White House press secretary, Karine Jean-Pierre, as well as Mike Donilon, Biden’s longtime ally, and Stephanie Cutter, a former Obama adviser. The treasurer of the center’s board of trustees is television producer Shonda Rhimes, who hosted fundraisers for Biden before he abandoned his reelection bid last summer.

But the current board also features Trump allies, including Pam Bondi, the new president’s recently confirmed attorney general, and Lee Greenwood, whose song “God Bless the USA,” was the unofficial anthem of Trump’s presidential campaign.

During his first term in 2019, Trump announced that he was tapping actor Jon Voight, a longtime supporter, to the board, along with former Arkansas Gov. Mike Huckabee, who he’s picked as U.S. ambassador to Israel this time.

Spotify led all music stocks this week with a 13.6% gain after its fourth-quarter earnings results on Tuesday (Feb. 4) showed that the company posted its first-ever net profit. The streamer’s share price reached an all-time high of $632.41 on Friday (Feb. 7) before closing at $622.99, slightly lower than its closing prices on Wednesday ($626.00) and Thursday ($625.87). Fewer than six weeks into 2025, the Swedish streaming company’s stock has risen 39.3%.

With 203.8 million shares outstanding, according to its 2024 annual report released this week, Spotify’s market capitalization briefly reached $128.9 billion. A week ago, Spotify was worth nearly as much as the three major music groups. As of Friday, after gaining another 13.6%, Spotify is worth more than Universal Music Group (UMG), Sony Music and Warner Music Group (WMG) combined.

Guggenheim was among a host of analysts to increase its Spotify price target, raising the streaming company’s shares to $675 from $520 and increasing its forecast for 2025 operating income to 2.61 billion euros ($2.7 billion) from 2.46 billion euros ($2.54 billion). Others that raised their price targets for Spotify were Evercore ISI (to $700 from $500), Morgan Stanley (to $670 from $550), DA Davidson (to $680 from $350) and Deutsche Bank (to $700 from $550).

Led by Spotify, the 20-company Billboard Global Music Index (BGMI) rose 7.7% to a record 2,635.41, bringing its year-to-date gain to 24.0%. The index’s most valuable companies were among the 13 gainers while the seven companies that lost ground have relatively small market capitalizations. In contrast to music stocks’ gains, major indexes were muted this week. In the U.S., the Nasdaq composite index and S&P 500 fell 0.5% and 0.2%, respectively. In the U.K., the FTSE 100 rose 0.3%. South Korea’s KOSPI composite index gained 3.0%. China’s SSE Composite Index was up 1.6%.

Chinese music streamer Cloud Music had the week’s second-best performance, rising 6.6% to 130.30 HKD ($16.73). SiriusXM was third-best after rising 6.0% to $25.44. Another Chinese music streaming company, Tencent Music Entertainment, improved 4.7% to $12.54. And K-pop companies all fared well: SM Entertainment was up 4.9%, HYBE improved 4.2% and JYP Entertainment rose 3.6%.

While record labels and publishers have benefitted from Spotify’s price increases, their stock prices haven’t followed the same trajectory. WMG gained 2.9% to $32.72 following its quarterly earnings report on Thursday (Feb. 6) and is up 5.5% year to date. Reservoir Media, which released earnings on Wednesday (Feb. 5) and raised its full-year guidance, closed the week down 4.2% to $7.96 and has lost 12.0% in 2025. UMG, which will announce its fourth-quarter earnings on March 6, rose 0.1% to $26.98 and is up 9.1% year-to-date.

MSG Entertainment gained 1.1% to $36.73. On Thursday (Feb. 6), the concert promoter reported that revenue increased 1% to $407.4 million and adjusted operating income improved 2% to $164 million in the fiscal second quarter ended December 31, 2024. Event-related revenue fell $22.5 million due to lower revenue from concerts and a drop in other live entertainment at the company’s venues.

LiveOne had the largest decline of the week, falling 19.3% to $1.17. The music streaming company will announce earnings on Feb. 14.

Nick Cave and the Bad Seeds, PJ Harvey, Yeah Yeah Yeahs, DEVO, Primal Scream, and more have joined forces for Los Angeles Rising, a new benefit album raising funds for musicians affected by the recent LA wildfires.

Spearheaded by Kevin Haskins of Bauhaus and Love and Rockets, along with producer Nick Launay, the compilation features previously unreleased tracks from some of alternative music’s most influential artists. All proceeds from the album will go directly to Sweet Relief, a non-profit organization that provides financial assistance to career musicians in need.

The album, which is available exclusively on Bandcamp, includes a reimagined version of “California Dreamin’” by Jarvis Cocker, an alternate take on Yeah Yeah Yeahs’ “Turn Into” from Show Your Bones, and a new track from Nick Cave and the Bad Seeds titled “Michelangelo.” Primal Scream contributed an orchestral version of their song “False Flags,” while Danny Elfman added his own surreal spin with “Monkeys on the Loose.” DEVO, Gary Numan, and Flea also feature on the 16-track compilation.

Haskins and Launay, both longtime LA residents, were personally affected by the fires and said the project came together quickly as they watched the devastation unfold.

“As the wildfires were raging and destroying thousands of homes around Los Angeles, both my neighborhood and Nick’s were instructed to evacuate. But we were the lucky ones,” Haskins said in a press statement. “The fire threatening our homes and recording studios was thankfully extinguished by firefighters just minutes away, but countless musicians and friends lost everything.”

Launay added, “This harrowing experience and witnessing the monumental destruction of entire communities inspired Nick and I to team up to create a compilation album to raise money for the less fortunate. We reached out to our musician friends for unreleased recorded gems and the response was incredible! PJ Harvey, Nick Cave, Jarvis Cocker, Primal Scream, Gary Numan, and Devo are just some of the artists that rushed in to help.”

“Nick and I were lucky. We had to evacuate, but our homes and studios survived,” Haskins said in a statement. “So many musicians we know lost everything.” The two reached out to artists who had worked with them over the years, asking if they had unreleased tracks that could help raise money. “The response was incredible,” Launay added. “These musicians didn’t hesitate to contribute to something that could directly help their peers.”

The album arrives amid a broader industry-wide effort to support wildfire relief. Bandcamp recently announced that all proceeds from purchases made on Feb. 7 would be donated to MusiCares, while a separate benefit album—featuring contributions from R.E.M., Death Cab for Cutie, The Postal Service, and more—is also in the works.

Los Angeles Rising is available now on Bandcamp, with vinyl pressings and limited-edition merchandise set to be released later this month. As wildfires continue to impact communities across California, the music industry is once again proving its ability to rally support when it’s needed most.

Pardison Fontaine and Cardi B dropped their highly anticipated “Toot It Up” collab on Friday (Feb. 7) via Hitmaker Music Group.

“You guys keep asking for ‘Toot It.’ Where’s ‘Toot It’? Where’s ‘Toot It’ at? Can we get ‘Toot It’? Here go the song, here go ‘Toot It.’ Take it, play it, do whatever y’all gon’ do with it, shake ass. Here go the song, don’t ask for that sh– no more,” he said in an Instagram video earlier this week with the caption “it’s BEEN 8 YEARS @iamcardib GET THIS SONG OFF MY HARD DRIVE!!! N THEY KEEP ASKING FOR THIS !!! IM DROPPIN IT 2/7!!!!”

The last time the two properly collaborated on a song was in 2018 with “Backin’ It Up,” and they performed it together at the 2018 BET Hip Hop Awards. It reached No. 40 on the Billboard Hot 100 and reached the top 20 of Hot R&B/Hip-Hop Songs (No. 18) and Rhythmic Airplay (No. 11). Pardi has co-written several hits for Cardi, including her 2017 breakthrough smash “Bodak Yellow,” her other Hot 100 No. 1s “I Like It,” featuring Bad Bunny and J Balvin, “WAP” with his ex Megan Thee Stallion and “Up,” and much of her 2018 Grammy-winning debut album Invasion of Privacy. He teased them being back in the studio together last April on Instagram.

“Toot It Up” isn’t the only new music Cardi has on the way. On Thursday (Feb. 6), the trailer for the new Smurfs movie teased the “Higher Love” track by Desi Trill featuring DJ Khaled, Cardi B, Natania and Subhi.

Listen to “Toot It Up” below.