For their next musical adventure, PNAU is aiming straight for the heart — with some help from Mexico’s The Warning.

The electronic music hitmakers return with “Tu Corazón (Your Heart),” a good time crunched into three pumping minutes. It’s a piece of art years in the making, honed on multiple continents.

“Tu Corazón,” say reps for PNAU’s Nick Littlemore and Peter Mayes, is a song about opening your heart to the beauty around you, an important reminder in this ever-changing world.

PNAU were first made aware of The Warning when Littlemore’s other project, Empire of the Sun, was filming in Mexico more than a decade ago. At the time, The Warning, the Villarreal Vélez sisters Daniela (guitar, vocals, piano), Paulina (drums, vocals, piano), and Alejandra (bass guitar, backing vocals, piano), were a band on the way up, dreaming of the big stage.

After an initial meeting, the siblings headed to a recording session in PNAU’s studio in downtown Los Angeles. “Tu Corazón (Your Heart)” is part of that long-percolating collaborative process.

“Tu Corazón is a flash of ecstatic dance, coming at you from our sister city of Monterrey,” comments Littlemore. “A once storied adventure, now a booming jam – punk, love and all wild. Try as you might to sit still, I challenge you to do so. You have been warned!”

The Warning adds: “This song is about opening your heart to every beautiful thing this world has to offer through community and the people we love. We had a great time working with PNAU creating something this unique and fun! It was a very nostalgic process for us and we loved connecting with our past selves through this song. We are grateful to have been a part of this record and we love Pete and Nick very much!”

The official music video was shot in Monterrey, and can be seen below.

Forged in Sydney’s rave scene, PNAU has gone where few Australian electronic acts have ventured before: landing No. 1 hits around the globe.

An international breakthrough came when PNAU joined forces with Elton John on the Rocket Man’s 2012 remix album Good Morning to the Night. The collection went to No. 1 on the Official U.K. Albums Chart. PNAU and Elton repeated the feat for another remix, the 2021 single “Cold Heart” with Dua Lipa, and landed a bonafide global smash.

“Tu Corazón” follows The Warning’s single “Kerosene,” and a bunch of high-profile concerts and festival spots including Lollapalooza Chile, Argentina, Brazil, and a record-breaking crowd of 50,000 for their homecoming date at Monterrey. Later this year, the sister act will support YUNGBLUD on his IDOLS World Tour in the United States and United Kingdom.

“Tu Corazón (Your Heart)” comes on the heels of PNAU’s collaborations with Italian trio MEDUZA, “Rollin,” “Light Me Up” with Kungs, and a slew of remixes with the likes of including Coldplay, Parcels, Tame Impala, Diana Ross and Sophie Ellis-Bextor.

The latest incarnation of PNAU is the OG lineup. Sam Littlemore, Nick’s brother, joined in 2016 and wrapped up at the end of the last album cycle, 2024’s Hyperbolic. Billboard understands Sam contributed to the production of the new song, which was recorded before they parted ways.

To coincide with the new release, PNAU announces a 12-date Nirvana Tour of Australia’s East Coast this June and July, the winter months in these parts. Before that, the lads will debut their live show May 1 at Foro Indie Rocks! in Mexico City.

PNAU DJ Sets:

April 10 – Beach Hotel, Byron Bay

April 11 – Ability Fest, The Timber Yard, Melbourne

PNAU Debut Live Show in Mexico:

May 1 – Foro Indie Rocks!, Mexico City

PNAU Nirvana Tour 2026:

​​June 19 – Gilligan’s, Cairns

June 20 – The Warehouse, Townsville

June 21 – Magnums, Airlie Beach

June 24 – McGuires Hotel, Mackay

June 25 – Leichhardt Hotel, Rockhampton

June 26 – Sugarland Tavern, Bundaberg

June 27 – The Powerhouse, Toowoomba

June 28 – Beach Hotel, Byron Bay

July 1 – Hoey Moey, Coffs Harbor

July 2 –  Shoal Bay Country Club, Shoal Bay

July 3 – King Street Hotel, Newcastle

July 4 – Drifters Wharf, Gosford

BTS‘ certainly made a splash with “SWIM,” the lead single from their seventh studio album ARIRANG. The 2026 LP was the K-pop group’s first record after they announced they would be taking an indefinite break in 2022 for the members to complete their mandatory military service.

In true BTS fashion, the new album and lead single topped the charts immediately upon release. “SWIM” debuted at No. 1 on the Billboard Hot 100 and ARIRANG did the same on the Billboard 200. Seven must be the band’s lucky number, as ARIRANG was their seventh album and seventh Billboard 200 No. 1 while “SWIM” was their seventh Hot 100 chart-topper.

Below are the lyrics to BTS’ “SWIM.”

Swim, swim
Water falling off your skin
Swim, swim
I could spend a lifetime watching you
Swim, swim
This is how it all begins
Swim, swim
I just wanna dive
I just wanna dive

Bad world
Gone away, I still wake up in this mad world
Name a place that I could breathe on this map, world
Lookin’ like a goody, goody in this bad world, bad world
Don’t know how to act, girl
I’m in the deep, tell me where the hell you at, girl?
Oh, you ain’t even gotta love me back, girl
You know that I’m never holdin’ back, girl, yeah

So easy
Don’t make it so hard
Nights like these, I just wanna get lost
Right here with the moon and the sharks
I ain’t gotta think ’bout a thing, baby, I just

Swim, swim
Water falling off your skin
Swim, swim
I could spend a lifetime watching you
Swim (swim), swim (swim)
This is how it all begins
Swim, swim
I just wanna dive
I just wanna dive

Water, water so deep
Water so deep
Take it off the ground
I ain’t never gettin’ cold feet
Yeah, you know me
Yeah, you know me
Sittin’ on the shore
Now I’m ready for the whole sea
I can feel the high waves comin’ (yeah)
Why you run away? You can run in (yeah)
Salt on my tongue, she’s stunnin’ (yeah)
You’re the only place that I wanna be, yeah

Swim, swim
Water falling off your skin
Swim, swim
I could spend a lifetime watching you
Swim (swim), swim (swim)
This is how it all begins
Swim, swim
I just wanna dive
I just wanna dive

Splash (splash), drift (drift)
I make waves with my two fins (two fins)
Splash (woo), drip (drip)
I just wanna take it across the line
Under here, we don’t chase the time
Baby, everything can’t be so sad (so sad)
Turn my face from the land
I just wanna dive
I just wanna dive

Swim, swim
Water falling off your skin
Swim, swim
I could spend a lifetime watching you
Swim (swim), swim (swim)
Let it all begin
Swim, swim
I just wanna dive
I just wanna dive

Lyrics licensed & provided by LyricFind.
WRITERS
James Essien, Ho Weon Kang, Sean Foreman, Tyler Spry, Jamison Baken, Ryan Tedder, Nam Jun Kim, Kirsten Allyssa Spencer, Derrick Milano
PUBLISHERS
Lyrics © Universal Music Publishing Group, CONCORD MUSIC PUBLISHING LLC, Sony/ATV Music Publishing LLC, Kobalt Music Publishing Ltd.

Eden Muñoz captures the crown on Billboard’s Regional Mexican Airplay chart with his latest single “Mi Yo De Antes” leading the April 11-dated ranking. The song rises 4-1 after a 20% surge to 7.6 million audience impressions on United States panel-contributing regional Mexican stations during the March 27-April 2 tracking week, according to Luminate.

“I am very happy that this is my 10th No. 1 on Billboard,” Muñoz tells Billboard. “These past four years as a soloist have been quite dynamic. The No. 1s are like a big hug to the entire team that is giving their all to ensure the message of these songs reaches, as much as possible, those who need it most. Thank you, Billboard, and thanks to the whole team.”

“Mi Yo De Antes,” released Feb. 5 via EMC/Sony Music Mexico/Sony Music Latin, has enjoyed a steady ascent since its February debut at No. 29. After three weeks in the top 10, the track reached the summit of the chart in its seventh week.

“The song represents me completely today, especially in phrases from the song like feeling that you can’t handle everything, or that sometimes you don’t even know what you want, feeling lost,” Muñoz adds. “I realize that it’s not just me going through this stage, but many people who have connected with this song and have found it to be a catharsis.”

With the move, Muñoz hits a milestone, securing his 10th No. 1 on Regional Mexican Airplay, dating to the 2022 chart-topping “Chale!” Plus, he breaks his previous tie with El Fantasma and joins an elite group of solo artists who have earned 10 or more No. 1s since the chart’s launch in 1994. Here is how the leaderboard stands:

Artist, No. 1s

Christian Nodal, 17
Alejandro Fernández, 14
Gerardo Ortiz, 14
Carin León, 12
Eden Muñoz, 10
El Fantasma, 9
Julion Álvarez y Su Norteño Banda, 9
Marco Antonio Solis, 8
Vicente Fernández, 7
Alfredo Olivas, 6
Xavi, 6

“Mi Yo De Antes” also climbs 8-3 on the overall Latin Airplay chart and becomes just the third soloist track to break into the top three in 2026, after Gerardo Ortiz with “Échame El Grito” (No. 3 in January) and Danny Ocean’s “Corazón” (No. 1 in February).

“Mi Yo De Antes” is the first single from Muñoz’s forthcoming album 8847 slated for an August release.
Says Muñoz, “8847 is an important number for me. This album will include tracks that directly tie into this introspection. There’s the song ‘Osadía’ with the maestro Cristian Castro, and collaborations with Fonseca and Yuridia.”

While some headlines say Pershing Square’s offer to buy the Universal Music Group (UMG) values the company at $64 billion — which would make it by far the biggest music industry deal ever — if you get into the details of the offer, it looks like Pershing Square’s founder and CEO, Bill Ackman, is trying to buy the major on the cheap. At least that’s the assessment of some Wall Street music investors and music industry executives.

For one thing, despite all the headlines touting the more than $60 billion valuation of the convoluted offering, the cash option, if it were available for all shares — which it is not — wouldn’t even be bigger than UMG’s initial public offering.

Pershing Square’s valuation is based on its forward-looking view that UMG’s stock price will have a projected value of 30.40 euros ($35) per share on Dec. 31, 2026, which would give the deal a valuation of 55.55 billion euros ($64 billion). However, if you read Pershing Square’s letter to the UMG board, it says UMG shareholders may elect to receive all cash or a mix of stock and cash consideration. If shareholders choose to receive all cash, they will receive 22 euros a share, which would give the deal an overall value of 40.34 billion euros ($43 billion).

In short, $43 billion would put the deal below UMG’s valuation after its first day of trading, when it closed at 25.10 euros, giving it a 46 billion euros valuation — then about $54 billion. But even the $43 billion valuation is a pie-in-the-sky figure, because Pershing Square is only proposing to bring 9.4 billion euros ($10.85 billion) to the table to pay for its deal by injecting 2.5 billion euros ($2.89 billion) in cash, raising 5.4 billion euros ($6.23 billion) in debt and getting another 1.5 billion euros ($1.73 billion) toward the financing by selling UMG’s Spotify holdings.

The non-binding offer will pay shareholders 5.05 euros ($5.82) a share and the equivalent of a 0.77 share in new UMG stock, which would see the share count fall by 17%, from 1.833 billion to 1.541 billion shares.

If you add in the $2.5 billion that Ackman still has in UMG stock — he paid $4 billion in 2021 for about 10% of UMG and, in 2025, sold about $1.5 billion of that, leaving him with a 6.2% stake in the company — that means he’s trying to take control of UMG for a total of about $12 billion, not $64 billion. In addition, he’s only bringing $5.5 billion of Pershing Square’s own money to the table. If shareholders agree to the Pershing Square proposal, at the end of the deal, Pershing will own an 11.7% stake in UMG shares, according to a Billboard transcript of a Pershing Square conference call with Wall Street analysts.

What Ackman is really trying to do, say music industry financial executives, is take over UMG on the cheap — or at the very least, ignite UMG share price increases.

As one music industry financial investor puts it, “Ackman is saying, ‘Trust me, I’m the man. I’ll put a great board in; we will get listed in the U.S., and we will get rid of the guys in Europe, and off we go.’ That executive describes the Pershing Square offer as a “non-transaction transaction. Is he really buying the company or is he saying, ‘Put me in charge and the company will do better’?”

A music industry financial executive similarly says, “While the offer is impressive on its face, it’s financially structured with very little cash, new debt and a very large equity component in a new UMG structure. Shareholders are not getting a premium in cash; they are taking a bet on the valuation that Pershing Square says it can get in the future.”

Pershing Square is betting that all current shareholders will choose to take the equivalent of 77% of their shares and 5.05 euros, instead of cashing out and choosing to take 22 euros a share. However, if shareholders do choose to take the all-cash payout, the math doesn’t work. As the Barclays Bank European Media Equity research analyst team puts it, “There is in effect no cash alternative.”

If, as Pershing Square expects, existing shareholders choose to take the equivalent of 77% of a share for each share outstanding and 5.05 euros, the cash component works out to 9.3 billion euros, which the money on the table would just about cover. Alternatively, the 9.4 billion euros cash offer on the table will only allow shareholders to buy, at 22 euros a share, 444.3 million shares — or just 23.3% of outstanding shares.

It’s unlikely that all shareholders will choose to take all cash, and it’s equally unlikely that all of them will choose to instead take the 0.77 a share trade-in deal plus 5.05 euros a share — meaning it will probably be a combination of both. But as Barclays’ European Media team puts it, either way, “The number of shareholders that can get €22.00 per share or 100% cash would be very small.”

Others wonder if the offer is even real. “Isn’t he just trying to stimulate share price? He is doing what activist investors do,” says a senior music industry executive.

If that was Pershing Square’s main intention, Ackman is off to a good start, as UMG’s stock closed at 19.06 euros on Tuesday (April 7) — up nearly 11.5% from the April 2 close of 17.10 euros. According to the music industry financial executive, Ackman’s offer served as a huge advertisement that UMG’s stock is undervalued, and “he just got at least 10% richer.”

Ackman has previously said he believes UMG shares are undervalued and do not reflect the company’s performance, a point he extensively reiterated on Tuesday’s conference call. He is not alone in that assessment, as others have noted that UMG has been producing strong results but has not been rewarded when it comes to its share price — something that UMG management agrees with. Just last week, in an apparent bid to boost the share price, UMG announced it would buy back about 500 million euros ($574 million) worth of its shares. In a statement at the time, UMG CFO Matt Ellis said, “We currently see a meaningful dislocation in UMG’s market valuation.”

But that effort isn’t enough for Pershing Square. During the conference call, Pershing executives laid out that while UMG’s performance has been strong, UMG management hasn’t paid enough attention to the share price. In particular, Ackman cited the company’s ownership of about $2.7 billion in Spotify shares and said the market is giving UMG no credit for that stake.

“There’s been no presentation by the company of what the plans are for that holding. In general, we hear from shareholders that they just find the business hard to understand, difficulty getting their questions answered,” Ackman said during the conference call, according to the Billboard transcript. “They’re surprised almost every quarter with puts and takes in the earnings. And really this relates to how investor relations have been handled by the company.”

Later in the call, according to the Billboard transcript, Pershing Square Capital Management chief investment officer Ryan Israel said, “We think that we can add a lot of value [by helping] capital allocation and shareholder communications. And we think the combination of those two things can be very powerful to allow for very significant earnings per share growth over time.”

During the call, Pershing Square outlined where it believes it can deliver value to shareholders. But some worry that despite having a five-year history of UMG ownership, Pershing Square’s understanding of the music business still falls short.

The music industry financial executive says there are always “serious concerns about how a financially structured transaction” will impact investment in artists and songwriters. “Many CFOs of the larger financial institutions have shown they are not concerned about investments” in A&R when it comes to getting cost savings to raise a stock price valuation, the executive adds.

But Pershing Square’s Israel addressed that concern during the conference call, saying, “We agree with management that the first priority of the free cash flow of the business is investments and acquisitions that further improve the competitive position of the company.”

Industry insiders are nevertheless skeptical that that will remain the case. As another senior music industry executive puts it, “Did you listen to the conference call? It was like the greatest hits of someone who knows just enough to be dangerous.”