Concord is raising $850 million through an existing asset-backed security (ABS), according to a new report by Kroll Bond Rating Agency (KBRA). These new notes are the third series of notes of a $2.6 billion ABS. The proceeds will be used to acquire approximately $217 million of assets that will be contributed to the ABS’s collateral pool, according to the Tuesday (Oct. 8) report. The new notes will also redeem the $500 million of the 2023 series of notes from the same ABS. 

Concord issued notes totaling $1.8 billion in 2022 and followed with another $500 million from the same ABS in 2023. Some of those proceeds were used to acquire Round Hill Music Royalty Fund in 2023 and Mojo Music and Media in 2022. Assets from those acquisitions were placed into the ABS as collateral in July, according to KBRA’s report.

“We’ve very much liked the capital structure [of an ABS] that allowed us to relatively easily draw new debt for new acquisitions,” Concord CFO Kent Hoskins told Billboard earlier this year. The 2022 ABS had a “relatively low” loan-to-value ratio in the “low 40s,” according to Hoskins, which provided a buffer to do the 2023 issuance that funded the Round Hill acquisition. 

With the addition of the Round Hill and Mojo Music assets, the value of the catalog backing the ABS grew from $4.2 billion to $5.1 billion, the report says. The catalog includes more than 1 million compositions, master recordings and related assets by artists such as Genesis, Phil Collins, R.E.M., Carrie Underwood and Creed and gets 65% of its revenue from the U.S. Another 14% of revenue comes from Europe and 9% is derived from the U.K. Frontline titles account for just 1.5% of the titles. 

Numerous music companies have raised capital through an ABS, which allows an issuer to borrow money against the revenue created by music assets used as collateral in the transaction. In 2022, Chord, a venture of KKR Credit Advisors and Dundee Partners, did a $733 million ABS and Hipgnosis Song Management raised $222 million with one. Earlier this year, HarbourView Equity Partners and Kobalt put together $500 million and $267 million ABS deals, respectively. Sources have told Billboard that far more unpublicized securitizations have closed in recent years.

By the mid-2000s, Swedish songwriter and producer ILYA — who was then in his late teens — was “grinding, grinding, grinding” without gaining much momentum. It wasn’t until years later, thanks to a fortuitous meeting, that his career finally took off.

ILYA, now 38, recalls how meeting producer Shellback changed his life, as the latter introduced him to the acclaimed and mysterious Max Martin. Soon after, ILYA scored his first smash hit co-producing and co-writing on Ariana Grande and Iggy Azalea’s 2014 collaboration “Problem,” which hit No. 2 on the Billboard Hot 100. His working relationship with Martin — and Grande — has continued, most recently on the pop star’s sixth No. 1 album on the Billboard 200, Eternal Sunshine.

The album produced two Hot 100 No. 1s: lead single “Yes, And?” and “We Can’t Be Friends (Wait for Your Love),” both of which credit ILYA. But those are from far the only hits he’s had a hand in this year; ILYA’s 2024 credits also include Conan Gray, Coldplay and Tate McRae, the latter of whom ILYA helped score her highest Hot 100 debut to date with “It’s ok I’m ok.”

“It wasn’t that long after [McRae’s 2023 second album] Think Later that we were in the studio again,” says ILYA, who reveals that they ideated her current smash before Think Later even arrived. “It was just an idea that just popped back into our life and we were like, ‘Actually, let’s finish this thing.’ It’s just been continuous since that.”

You’ve worked with Tate before. What is your metric of, “I want to keep this relationship going?”

Nowadays, it’s just good vibes. I don’t want to be stressed at work because I’ve been doing it for such a long time now. So my main thing is just like, can we just have fun in the studio? 

When did sessions start after her 2023 album, Think Later?

It was a little continuous because she loves writing and being in the studio. “It’s ok I’m ok” is one of those records where it was like, “Let’s just have fun; let’s make something weird.” I think it shows a brand-new side to her. The more I’ve worked with her, the more I feel like she knows herself as an artist. This one was [started] before Think Later — she knew that it wasn’t right for that moment, but she picked it back up and we really worked to make it into her vision of what she was seeing the song as. That, to me, is really amazing to see.

Tell me more about how the song came together.

The chorus started as a joke. We were in Sweden writing, and when she’s in the studio and so focused, she doesn’t want to eat or drink anything. She’s just like, “I need to finish this song now.” Me being the way I am, I’m always like, “Do you want something to drink? Do you want something to eat?” And she would be like, “It’s OK, I’m OK,” [always] in the same note. And I was just like, “Wait, that’s actually kind of catchy.” And now it’s a song. I like it because it came from her — that’s how she says it.

Do you have a favorite part of this song?

It’s harder for me to listen in that sense, because I’m a part of the song. But I do love when people pinpoint little details that you’ve put there on purpose. I love that.

You have to let go of analyzing. Once the song is out, depending on how people [react] to it, I’m also affected on how I’m listening. If a song comes out and it doesn’t work or it’s not a big thing, then I’m trying to analyze why it wasn’t instead of just enjoying the song. But nowadays I’m a little bit better at that.

Your credits in 2024 include other notable projects such as Ariana Grande’s Eternal Sunshine. With the Grammys approaching, what are your hopes?

I think next year’s Grammys [ceremony on Feb. 2] is going to be insane. I’m hoping we’re going to get nominated, but it’s going to be such a competitive year. It might be the best Grammys in a long time in the sense of who’s going to be nominated and what potential performances there might be. There was so much good music this year.

This article originally appeared in the Oct. 5 issue of Billboard.

All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.

The bell’s about to ring, so find your seats! The season three finale of Abbott Elementary — starring Quinta Brunson, Sheryl Lee Ralph, Janelle James, Tyler James Williams, Lisa Ann Walter and Chris Perfetti — premieres on Wednesday (Oct. 9) at 9:30 p.m. on ABC.

Created by Brunson, the mockumentary-style sitcom centers around teachers at Abbott Elementary, a fictional Philadelphia public school. The hit series won four Emmys over the last two seasons, including Brunson’s win for outstanding lead actress in a comedy series during the 75th annual Emmy Awards in January.

Read on for all the ways to watch or stream Abbott Elementary on TV and online.

How to Watch Abbott Elementary Without Cable

After being delayed due to simultaneous strikes in Hollywood last year, Abbott Elementary premiered in February. Tonight’s premiere airs at its 9:30 p.m. ET/PT on ABC and streams on Hulu the next day.

If you already have cable or access to ABC and other local channels through a TV antenna, satellite or streaming, check your local listings for channel information to watch the premiere live, or stream on ABC.com (you’ll need a cable or streaming provider login).

And if you don’t have cable or access to local channels, keep reading for details on ways to stream Abbott Elementary for free on DirecTV and other platforms.

How to Watch Abbott Elementary on DirecTV

Say goodbye to cable. Streaming is an easier and more affordable way to catch must-watch shows such as Abbott Elementary from any compatible device — your TV, phone, laptop and more.

Most streaming platforms offer discounts and free trials, including DirecTV Stream, which is free for the first five days.

DirecTV Stream includes more than 90+ channels including ABC, NBC, CBS and Fox and cable channels such as Bravo, E!, ESPN, TLC, Food Network, A&E, AMC, BET, Cartoon Network, MTV, VH1, CMT, Paramount Network, HGTV, HLN and HSN.

You’ll also get access to Max, Paramount+ with Showtime, Starz and other premium channels for free when you subscribe to certain streaming plans.

Fubo TV is similar to DirecTV in that it offers ABC and other local channels. The streamer includes a one-week free trial (compared to five days with DirecTV) and 200+ channels including ABC, NBC, CBS, Fox, ESPN, BIG Network, Oxygen True Crime, HGTV, Nickelodeon, Nick Jr., OWN, FX, MSNB, FS1, MSNBC and much more.

Sling TV is another option for streaming live television. You can stream over 30 cable channels and local channels such as ABC in select areas. Plans starting as low as $20/month (regularly $40/month).

Streaming internationally? You can access several platforms through ExpressVPN.

How to Watch Abbott Elementary on Hulu

You can stream Abbott Elementary for free on Hulu starting on Thursday, Oct. 10. Hulu is free for the first week and $7.99/month for the basic plan (or $79.99 a year). The streamer offers a student discount plan for $1.99/month.

If you’d rather watch live television, subscribe to Hulu + Live TV and stream 90+ live channels for $77 per month. Hulu + Live TV includes access to Hulu, Disney+ and ESPN+.

What else is streaming on Hulu? Binge original and exclusive programs such as How to Die Alone, Reasonable Doubt, Shōgun, Only Murders in the Building and The Bear along with most new episodes from network TV the day after they air.

Watch Hulu and Hulu + Live TV via iOS, Android, Roku, Fire TV, Fire Stick, Apple TV (4th gen), Chromecast, Xbox One, Xbox 360, select Samsung and LG TV models, Nintendo Switch and more.

How to Binge Abbott Elementary Earlier Seasons Online

Want to catch up on Abbott Elementary before the season premiere? Binge Abbott Elementary, and thousands of other TV episodes, plus movies and more on Hulu or Max. Single episodes and full seasons are available for purchase through streaming platforms such as Prime Video, Vudu, Google Play, and iTunes.

Watch the trailer for Abbott Elementary‘s new season below.

BMI announced this week that Alabama frontman Randy Owen will be celebrated as a BMI Icon during the 72nd annual BMI Country Awards on Nov. 19 at the BMI office in Nashville. The award has previously been bestowed on such country greats as Matraca Berg, Toby Keith, Loretta Lynn, Willie Nelson, Merle Haggard, Dolly Parton, Kris Kristofferson, Dean Dillon and Hank Williams Jr.

Owen wrote such signature Alabama hits as “Tennessee River,” “Feels So Right,” “Mountain Music” and “Lady Down on Love.” He was inducted into the Nashville Songwriters Hall of Fame in 2013.

Alabama, of course, is one of the most successful country groups in history. They had 33 No. 1 hits on Billboard’s Hot Country Songs chart, stretching from “Tennessee River” in August 1980 to “Old Alabama,” a collab with Brad Paisley, in June 2011.

Alabama was the first act to win entertainer of the year three times at the CMA Awards. They won in that category five times at the ACM Awards. They were inducted into the Country Music Hall of Fame in 2005, becoming just the third group (defined as more than two people) to be so honored, following The Carter Family, Sons of the Pioneers and The Jordanaires.

Remarkably, Alabama hit No. 1 on Hot Country Songs with 21 consecutive singles, discounting a holiday song (“Christmas in Dixie) and another artist’s single on which they were featured (Lionel Richie’s “Deep River Woman”). Their longest-running No. 1, “Jukebox in My Mind,” remained on top for four weeks in September 1990.

One of Alabama’s No. 1 country hits, “Touch Me When We’re Dancing,” had been a No. 1 hit on Billboard’s Adult Contemporary chart in 1981 for the Carpenters. Another, “Face to Face,” featured an uncredited guest vocal by K.T. Oslin.

Now it’s your turn to weigh in: Which is your favorite of Alabama’s No. 1 hits on Hot Country Songs? Vote here!