Author: Rap Hooks

Some earnings results are more difficult to interpret than others, and Spotify’s were no exception. Like Universal Music Group’s Q2 earnings, which contained a jumble of metrics headed in opposite directions, the streaming giant’s results were a mixed bag of wins and losses — a contrast to previous quarters when the metrics were in much better alignment.

The market seemed to take the Spotify results poorly, as the company’s share price dropped more than 11% following Tuesday’s earnings release. (Importantly, a pullback of that scope isn’t a surprise given Spotify’s share price was up 112% over the last year through Monday, July 28.) Analysts, however, were more sanguine and focused on the company’s long-term prospects rather than the quarter-to-quarter bumpiness.

Some of the factors that influenced Spotify’s mixed quarter were under its control (subscriber growth, lower-than-expected advertising performance). But some factors were out of its control (foreign exchange losses) while others were a combination of external and internal forces (higher stock-based compensation expense related to Spotify’s soaring share price). That’s a lot to digest.

Spotify’s earnings results highlighted the tension between investors’ desire for neat, linear growth and the untidy realities for companies that report earnings every three months. For a variety of reasons, some quarters will be better than others, and CEO Daniel Ek encouraged investors “to be prepared” for those instances where Spotify spends more money to grow the business over the long term.

A drop in advertising prices, for example, might spur Spotify to “double or triple” its marketing expense, Ek explained. “We generally expect to see more efficiencies as we’re leveraging better and better tools,” he said, “but sometimes that efficiency may mean that the right thing is to actually spend more in the short term to then get it back in the long term.” Translation: The path to success isn’t a straight line.

Equity analysts, who love a clean narrative as much as anybody, tried to make sense of the contrasting indicators. J.P. Morgan analysts called it a “messy” quarter for its mix of positives and negatives. Some analysts slightly lowered their forecasts for revenue and operating income. Everybody pointed to the fact that Spotify will encounter some bumps in the road as it makes investments (which are a drag on earnings) in pursuit of long-term growth (which, to Ek’s point, could help earnings down the road).

But there was nothing in Spotify’s results and executives’ comments that changed analysts’ overall theses. Investors want to see year-over-year growth every quarter, but analysts know that isn’t realistic. In their notes to investors, analysts focused on long-term opportunities to attract subscribers, benefits from current investments and Spotify’s ability to generate additional revenue.

Analysts believe that Spotify will continue to succeed if it makes the platform more engaging. Some of them homed in on two statistics that Spotify mentioned during the earnings call: 350 million users have streamed a video podcast, and video consumption is growing 20 times faster than audio-only consumption. Spotify’s investments in AI could also lead to better engagement. Spotify now has AI playlists in 40 countries, and user engagement with its AI DJ has “nearly doubled” in the last year, Gustav Söderström said during Tuesday’s earnings call.

Another factor in long-term growth is Spotify’s ability to generate revenue in different ways. For most of its history, Spotify has made money selling ads and subscriptions based on music listening. That has changed in recent years, and J.P. Morgan analysts believe the company has the ability to improve monetization outside of the record label/music publisher royalty structure. In other words, podcasts and audiobooks have the potential to help drive revenue without giving 70% of that revenue to music rights holders.

In the end, analysts’ valuation models didn’t change much, if at all. Guggenheim lowered its price target to $800 from $840 and maintained its buy rating. J.P. Morgan maintained its $740 price target. Cantor Fitzgerald left its $640 price target unchanged and reiterated its neutral rating. Bernstein kept its $840 price target and outperform rating. There’s a $200 variance in price targets within those four examples. But considering Spotify closed Friday at $627.15, it’s clear all the analysts feel there is upside for investors willing to hold on through occasional rough terrain.  

It’s been nearly 30 years since Busta Rhymes released his The Coming debut album, and Bus-a-Bus was honored with a star on the Hollywood Walk of Fame on Friday (Aug. 1).

Prior to Busta, a star-studded lineup of guest speakers took the podium, including LL COOL J, whose flow Busta mimicked when penning his first-ever rhymes, Big Daddy Kane and Public Enemy’s Chuck D.

“I worked so hard and I never asked for a shortcut, I never asked for a cheat code,” Busta said while teary-eyed on stage. “I was never raised by a support system that made it seem okay to try to go around honestly earning your rite to passage. I want to thank those people.”

The New York native recalled times of hustling leading him to trouble with the law at 12 years old, forming his Leaders of the New School crew and Chuck D being the one to give him his iconic rap name.

“I want to thank you Chuck for giving me my first shot and being one of the first to believe in me. I say you gave me the name even though you say you presented it,” he explained. “If you didn’t present it, it probably wouldn’t have been one of the greatest gifts in my life because my name before Busta Rhymes was Chill-O-Skee.”

Busta continued to “big-up” plenty of people who helped him on this journey, like his children, Epic Records CEO Sylvia Rhone, members of his team and his mother.

“I feel complete today. As we completed this chapter and started giving birth to a new one. I’m no longer Daniel-San in this s—t, I’m Mr. Miyagi now,” Busta said in a mic drop moment to finish off his speech.

Busta Rhymes then posed for photos alongside LL COOL J, radio royalty Big Boy, Chuck D and Big Daddy Kane.

In addition to receiving his Hollywood star, Busta has a role in The Naked Gun reboot, which was released on Friday. He’s also plotting the arrival of his Vengeance album in September.

Watch the full ceremony below.

Hatebreed’s founding bassist Chris Beattie has brought a lawsuit against the metalcore band, alleging frontman Jamey Jasta unceremoniously kicked him out after 30 years so he could get a larger cut of the band’s profits.

The legal complaint provides a window into Beattie’s abrupt departure from Hatebreed earlier this year. The bassist made clear at the time that the move was not his choice, calling his ouster “uncalled for” in a statement and hinting that he’d take “future actions” to address the situation.

Beattie is now indeed taking action, suing Hatebreed and Jasta (James Shanahan) on Wednesday (July 30). The lawsuit claims Jasta abruptly ejected him from Hatebreed this past November after he’d dedicated 30 years to the band.

According to the complaint, Jasta said at the time that Beattie was being fired because of complaints that he’d harassed a Live Nation security guard at Connecticut’s Toyota Oakdale Theater earlier that month. But Beattie says these allegations were “patently untrue” and that he never harassed any Live Nation employee.

“Despite Beattie’s denying the incident, Shanahan abruptly terminated Beattie from Hatebreed,” says the complaint. “Shanahan had structured a false narrative about Beattie — not supported by any evidence — to other band members following the Oakdale show in an effort to discredit Beattie’s reputation and persuade the other band members to justify Shanahan’s desire to kick Beattie out of the band.”

So what’s the real reason Beattie was ousted from Hatebreed? According to the bassist, it’s money.

“Shanahan stood to profit from Beattie’s termination, as he would be entitled to a larger share of band proceeds and profits without Beattie in the band,” says the complaint. “In addition, Beattie and Shanahan were the primary songwriters for the band and together earned the majority of publishing proceeds for their work. With Beattie out of the band, Shanahan likely believed that he could stand to recover significantly more in the way of publishing proceeds.”

The lawsuit claims that Jasta had become “more secretive” about Hatebreed’s finances in recent years. Beattie says he suspected Jasta wasn’t paying him the full 25% cut of the band’s profits that he was supposed to receive, and that the singer refused to let him see their balance sheets.

Beattie claims his termination from Hatebreed “has had a significant negative impact on his
career, reputation, and health and well-being.” He is seeking financial damages from the band and Jasta, noting that he’s been cut off from touring profits and has lost brand deals since being ousted.

A rep for Hatebreed did not immediately return a request for comment on Thursday (July 31).

Quavo and the Rocket Foundation have launched an emergency trauma therapy fund in response to the 49 shootings that took place last weekend.

Two of the shooting victims were directly connected to the Rocket Foundation. 18-year-old Deshawn Johnson, who attended Rocket Camp in 2024, and Offender Alumni leader “Coach Ball” were both killed at the hands of gun violence.

All donations to the Therapy Support Fund will go directly toward providing therapy support and mental health resources for the youth and children of the communities affected by the tragedy.

“After the tragic weekend in Atlanta, where at least 49 people were shot, including the tragic loss of Rocket Foundations 2024 Rocket Camper Deshawn Cooper and Rocket spark grantee leader of Offenders Alumni Association, Coach Ball, Rocket Foundation is creating an emergency trauma therapy fund for the youth and families impacted,” the Rocket Foundation wrote to Instagram.

The organization continued with a call-to-action: “These resources will go directly to two of our Spark Grantees @cureviolenceoaaa and @hope.hustlers working directly with those impacted. Please honor the pain and loss of those impacted by spreading the world and donating! Nothing can replace those lost, but together we can help our community heal in this trying time.”

Quavo initially launched the Rocket Foundation in 2022, shortly following the loss of his nephew and Migos running mate, TakeOff, who was a victim of gun violence.

On the music side, Huncho teamed up with Anycia in June for her “Put Up” single. Quavo’s last solo release came in May with “Dope Boy Phone.”

Those looking to donate can visit the Rocket Foundation website.

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.

If you love music, there’s a good chance that you’ll be heading to Coachella, Stagecoach, Lollapalooza or another music festival or concert this summer like Blackpink’s world tour. And you’ll need the right festival accessories or travel gear to pack for the trip. 

There’s nothing worse than traveling to a music festival only to get stuck outside in the heat without necessities like proper sunglasses, a hat to keep your head cool, a portable phone charger just in case you’re low on juice, hand sanitizer, face masks, bandanas and other essentials such as sunscreen, portable fans, waterproof mascara and liquid eyeliners; and a bag to carry everything from your identification to water bottles.

To help you out, we rounded up a list of music festival necessities, some of which you can buy at Amazon and Walmart to ensure that they get delivered quickly.

Adidas Unisex Alliance 3 Backpack

$16.00 $20.00 20% off

Buy Now On adidas

---

First up, the Adidas Alliance Backpack is a comfy, convenient and great backpack for music festivals. It features a zipper pocket for valuables and two mesh slip pockets for water bottles. The back compartment is roomy enough to fit your wallet, Airpods and other small items, while the front pocket can be used for your ID, money, room key, etc.

Anker Portable Charger, Power Bank, 10,000 mAh Battery Pack with PowerIQ Charging Technology

$17.99 $19.99 10% off

Buy Now On Amazon

---

A portable charger comes in handy regardless of whether you’re traveling to a music festival or not. Casely’s Here Comes the Sun Power Pod is an iPhone charging deck that fits in the palm of your hand. The power pod features MagSafe wireless charging and is available in tons of different colors and cool designs. Shop our favorite portable charger for iPhone and Android below.

Nike Apex Swoosh Bucket Hat

$30

Buy Now On Amazon

---

Looking for headgear? This simple bucket hat from Nike will keep you cool and block out the sun. The mid-depth design is made with soft woven twill and features an embroidered, color contrast Swoosh logo on the front panel for a clean, Nike finish.

KIRALUMI 8 PCS LED Glow Bracelets, Light Up Wristbands –

$15.99 $21.99 27% off

Buy Now On Amazon

---

Get the glow! An LED wristband bracelet is a cool festival accessory if you’re traveling in a group. The bracelet set above comes with eight bracelets (batteries included) featuring three light modes: fast blink, slow blink and full glow.

Alo Yoga Explorer Fanny Pack

$74

Buy Now at alo yoga

---

How about a fanny pack? Apart from being timeless and easy to find, if you’ve seen Everything, Everywhere, All At Once, then you know that fanny packs can be used for more than carrying personal belongings. Alo Yoga’s Explorer Fanny Pack is available in a limited-edition espresso color, black, white, limestone and fog. If you’re looking for a cheaper option, this Amazon fanny pack is available in 12 different colors.

USPECLARE Clear Purse/Messenger Bag Stadium Approved

$9.99 $15.99 38% off

Buy Now On Amazon

---

Clear bags are required for entry into Lollapalooza (unless smaller than 6 x 9 inches to be clear bags are required it’s unless smaller than 6 x 9 inches) (no liquids). Bags must be made from vinyl or PVC and no larger than 12 x 12 x 6 inches, like the option pictured above. The clear purse is available in 14 colors including black, blue, green, purple, red and pink. Walmart has a clear bag on sale for $6.98. Click here to shop clear backpacks.

Coleman Broadband Mesh Quad Camping Chair

$35.14

Buy Now On Amazon

---

Plan on standing in line? Get a portable lawn chair! If you’re looking for a basic option, the Coleman Broadband Mesh Chair pictured above is on sale for $20 at Amazon. The chair has cup holder with a mesh back, supports up to 250 pounds and fits into a carry bag. This Alpha Mart camping chair ($43.98) is another good option (that we’ve personally used) for long days in the sun. Click here for more portable, camping chairs.

Stanley IceFlow Flip Straw Tumbler

$35

Buy Now at stanley

---

Staying hydrated is the healthiest way to endure long days in the festival sun. Stanley released a summer-ready collection of vibrant colors for its bestselling IceFlow Flip Straw Tumbler. The collection is available in pink messa, pistachio and dew drop. Click here for more tumbler cups.

Jiyugala Hats Men Women Cowboy Hat Western Cap Wide Brim Sunhat

$1.59

Buy Now at walmart

---

You can expect to see a lot of Cowboy hats this summer thanks to Beyoncé’s Cowboy Carter. Hop on the cowboy hat trend with this Walmart hat, currently on sale for less than $2. The hat is available in black, red and brown.

Sun Hats for Men Women Fishing Hat UPF 50+ Breathable Wide Brim Summer UV Protection Hat

$8.99

Buy Now On Amazon

---

The proper hat will help keep you cool in the desert heat, which is especially useful if you plan on hitting up Lollapalooza. The sun hat pictured above offers UPF 50+ protection and has been tested to ensure safety from harsh UVA and UVB rays. The mesh fabric allows for moisture and heat to easily escape to keep your head cool and reduce sweating.

Achiou Neck Gaiter Face Mask Scarf Dust Sun Protection Cool Lightweight Windproof, Breathable Fishing Hiking Running Cycling

$6.99 $8.99 22% off

Buy Now On Amazon

---

You’re probably tired of wearing face masks, but it can get dusty outside, so you might need some form of face protection at festivals like Coachella. If you don’t want a cloth face mask or the more durable N95 mask, the reusable cloth face covering pictured above is perfect for the dessert and other dusty destinations. The washable face mask features four-way stretch and fits snugly on all size heads and faces, and it’ll stay in place, even if you’re running or doing other vigorous exercises. Find disposable face masks here.

SOJOS Retro Oval Sunglasses for Women & Men Trendy Sun Glasses

$20.99 $32.95 36% off

Buy Now On sojo vision

---

Finding the perfect music festival sunnies depends on your style preference and budget, but there are a bunch of affordable sunglasses online like these Sojo oval sunglasses. Another festival options, these polarized glasses pictured above have a chain attached, so you won’t have to worry about misplacing them while you’re out. And they’re available in seven different lens frames including red, black, green, grey, blue, gold and red. Click here for more festival shades.

FEISEDY Retro Square Aviator Sunglasses

$12.78 $17.99 29% off

Buy Now On Amazon

---

The sunglasses pictured above offer up a classic aviator style in nine different colors, including mirrored pink, brown and black.

Princess Polly Mora Sunglasses

$30

Buy Now at princess polly

---

Another trendy option, these ’90s inspired sunglasses feature a wraparound design and UV protection.

Festival Blanket: Stripes Retro

$30.64

Buy Now On Amazon

---

This portable picnic blanket folds up into a purse, so you can store your keys and other belongings. The waterproof blanket is available in different sizes including 60 x 79, 53 x 58 and 60 x 75 inches.

This fan-favorite, striped blanket from Nomadix is perfect for festivals, is another options for camping, picnics and other activities. Featuring a soft, microsuede top, the water resistant, sand-resistant and pet-hair resistant blanket measures 60 inches x 70 inches and is made from recycled polyester. Not into stripes? Find more Nomadix blankets here.

What to Wear to Music Festivals

Not sure what to wear to a music festival? Shorts, tees and comfortable shoes are a few fashion staples that you might already have in your closet, but if you’re looking for something more curated, you can find festival gear online at retailers such as Revolve, Nasty Gal, ASOS, StockX, Amazon, Walmart, and Farfetch.

See below for a few examples of clothes to wear to a music festival.

Breathable Boxers

Pair of Thieves Superiair Boxer Briefs (3Pack)

$19.99

Buy Now on pair of thieves

---

After selling out, the super light and breezy Superiair boxer briefs are available again right in time for Lollapalooza. Grab yourself a pair or a three pack to keep your private parts feeling breathable and cool all festival-long.

Cargo Pants

Uniqlo Ultra-Wide Cargo Pants

$39.90

Buy Now at Uniqlo

---

These Uniqlo ultra-wide cargo pants Aeropostale cargo shorts offer a comfortable fit and plenty of pockets, making them great for a music festival or concert. They are baggy, light and very on trend for summer fits. Grab these cargo bottoms in brown, black or green for only $40.

Short-Sleeve Shirts, Tees and Tank Tops

Abercrombie Camp Collar Summer Linen-Blend Shirt

$44.99 $60 25% off

Buy Now at abercrombie

---

When it comes to festival clothing, T-shirts and tank tops and linen short-sleeve shirts like the one pictured below will keep you cool in the festival heat, but you’re clothing choice will probably be depend on the weather. If you want to stay cool but don’t want to sacrifice style, this Abercrombie linen camp shirt is perfect for you. It’s available in a wide variety of colors and striped patterns for $60.

Lovers and Friends Meaux Scarf Top

$148

Buy Now at revolve

---

Add some flower power to festival season with the Lovers and Friends Meaux Scarf Top. This scarf top and matching skirt would be perfect for Lollapalooza and other music festivals. You can wear it with a bikini underneath and the pieces are sold separately, so you can mix and match.

Denim Shorts

Denim Jean Shorts

$17.50 $44.95 61% off

Buy Now at garage clothing

---

These denim festival shorts are on clearance at Garage Clothing and only available in select sizes. Denim shorts aren’t very hard to find but the price can vary depending on the brand. Wrangler, Walmart, Urban Outfitters, Abercrombie & Fitch, Revolve, Anthropologie and Gap has a bunch of denim shorts on sale.

Comfortable Shoes

1906 Utility Sneaker

$119 $159.99 26% off

Buy Now at new balance

---

Shoes can make or break an outfit, and if you’re trekking through a festival in the wrong shoes, you’ll definitely be sorry. There’s actually a science to picking the perfect shoe but if you don’t have the time to test out different styles, go for comfortable platform boots, walking shoes or running shoes that you don’t mind getting dirty such as Nikes, Pumas, Adidas, Salomon, New Balance, Cariuma, Vans or Converse Chuck Taylors. Other good options: Dr Marten, Burkenstocks, platforms and cowboy boots.

For more festival-related gear, see our recommendations for the best ear plugs for concerts, best travel backpacks and tote bags, and venue-approved bags.