Posts tagged with "Billboard"

Britain’s Royal Mail to release stamps that celebrate the music of Paul McCartney

May 7, 2021

Britain’s Royal Mail has revealed the designs of 12 postage stamps honoring Sir Paul McCartney as a music icon a little more than three weeks ahead of the scheduled May 28 issue date, Linn’s Stamp News reports..

Royal Mail also reported that it collaborated with McCartney and his team at MPL Communications in London for this stamp issue—adding that McCartney was personally involved “in the images used and the wider product range created for the issue.”

McCartney was previously commemorated on a set of British stamps as a member of The Beatles (Scott 2420-2426), Linn’s Stamp News notes. That set, issued on January 9, 2007, included six stamps showing iconic Beatles’ album covers and a souvenir sheet of four se-tenant (side-by-side) stamps depicting Beatles’ memorabilia.

The new Paul McCartney set includes eight stamps featuring covers of his albums as a solo artist and with his band Wings, and a souvenir sheet of four stamps showing black-and-white photographs of McCartney in the recording studio.

The stamps mark the 50th anniversary of the release of one of these albums, Ram, as well as the 50th anniversary of the formation of Wings in 1971.

The cover of Ram—the only album credited to both McCartney and his first wife, Linda (1941-98)—is shown on a nondenominated first-class stamp.

Another first-class stamp depicts the cover of Venus and Mars, Wing’s fourth studio album. Released in 1975, the album reached No. 1 in the United Kingdom and the United States.

Two other first-class stamps show the covers of two self-titled albums: McCartney released in 1970; and McCartney II, released 10 years later in 1980.

The cover of McCartney III, released in December 2020, is featured on one of the four £1.70 stamps.

Pictured on the other three £1.70 stamps are the covers of his solo albums Tug of War (1982), Flaming Pie (1997) and Egypt Station (2018),

The souvenir sheet, which is titled “McCartney in the Studio,” includes two first-class stamps and two £1.70 stamps.

In announcing the Paul McCartney set of 12 stamps, David Gold, director of External Affairs and Policy at Royal Mail, said: “Paul McCartney remains a vital figure at the centre of rock and pop — an artist whose legacy is immense, but whose work continues to generate popular attention and critical acclaim. This dedicated stamp issue is a fitting tribute to one of the UK’s much loved and revered musical icons.”

The stamps and a range of collectible products are available for pre-order beginning May 6 from www.royalmail.com/paulmccartney.

Ordering information also is available from Royal Mail, Tallents House, 21 S. Gyle Crescent, Edinburgh, EH12 9PB, Scotland—or from Royal Mail’s agency in the United States is Interpost, Box 400, Hewlett, NY 11557.

Research contact: @LinnsStampNews

Kanye West now is worth an estimated $6.6B thanks to Yeezy’s lucrative Gap, Adidas deals

March 19, 2021

He started out as a recording artist, but it’s his entrepreneurial streak that has made him truly wealthy. Kanye West is now worth a staggering $6.6 billion, as revealed in a new Bloomberg report and confirmed by a rep to Billboard.

According to a private document obtained by the outlet, Yeezy—West’s sneaker and apparel business with both Adidas and Gap—has been valued at between $3.2 billion to $4.7 billion by the Swiss investment bank UBS Group. As much as $970 million of that total is tied to West’s new clothing line for Gap (under the Yeezy Gap label) that the retailer has slated for release by July—part of a ten-year agreement that the parties signed in June of last year.

According to Billboard, the document further reveals that Gap, an ailing brand whose partnership with West represents a play for younger consumers, expects its Yeezy line to break $150 million in sales in its first full year in 2022—and envisions it surpassing a billion dollars in revenue within eight years, or even as soon as 2023 on the upside.

West stands to profit handsomely in any event, as he retains sole ownership and creative control of the Yeezy brand and earns royalties on sales under the deal, with the rate increasing as the business grows. He’ll also receive stock warrants when the collection hits sales targets, with the highest set at $700 million, according to a securities filing.

West’s longstanding deal with Adidas has been the most lucrative part of his business endeavors to date, with Yeezy sneakers continuing to fly off of shelves, Billboard reports. Indeed, according to the documents, the brand grew 31%—to nearly $1.7 billion in annual revenue last year—netting Yeezy royalties of $191 million. West has been in business with the company since 2013, with their current deal running through 2026.

An unaudited balance sheet of West’s finances, provided to Bloomberg by West’s lawyer, shows an additional $122 million in cash and stock and more than $1.7 billion in other assets, including an investment in his wife Kim Kardashian’s underwear label Skims (Kardashian filed for divorce in February).

West’s music catalog is worth another $110.5 million, according to a 2020 valuation by Valentiam Group cited by Bloomberg.

The numbers revealed today represent a decidedly sharp turnaround for West, who in 2016 claimed to be $53 million in debt; at the time, he also took to Twitter to implore Facebook founder and CEO Mark Zuckerberg to invest $1 billion in his work. That was before West himself was named a billionaire by Forbes, which estimated his net worth at $1.3 billion in April 2020.

Research contact: @billboard