Shuttered Venue Operators Grant Payments Will Start Arriving Next Week

Officials at the Small Business Administration say that the first round of Shuttered Venue Operators Grants will be distributed next week.

Shuttered Venue Operators Grant Payments Will Start Arriving Next Week

Two weeks after the Shuttered Venue Operators Grant (SVOG) portal successfully reopened, officials at the Small Business Administration say that the first round of awards will be distributed next week.

There are three distinct 14-day periods during which SVOG funds will be awarded. Priority One applicants that lost 90% or more of their revenue from April to December of 2020 are scheduled to receive funds of up to $10 million in the first 14 days of disbursement. Following that, Priority Two establishments that lost 70% or more of their revenue in the same time period will receive funds over the next 14 days. And last in line are businesses that lost 25% or more of their revenue in 2020, which will receive funds in the 14 days after the second round of funding closes.

The amount of funding for the second and third tiers, along with any supplemental funding, will be based on what remains after the SBA awards grants to the first priority group.  

“This emergency relief can’t come soon enough for those on the precipice of going under. We’ll be very grateful when the money is distributed as Congress intended,” says National Independent Venue Association board member Audrey Fix Schaefer. “It’s been very hard to hold on, but even tougher to plan for reopening without the money to hire back staff, rent venues and secure acts with deposits. It will be incredible when the $16 billion Congress earmarked to save our stages becomes a reality.”

As of today, 11,500 SVOG applications have been submitted to the SBA. Of the 11,500 applications, nearly 4,750 of those are from independent live venue operators or promoters. Another 2,678 applications are from performing arts organizations, while 1,308 are from talent representatives.  

The fund disbursement will be welcome news for venue owners who have been desperately awaiting relief since the SVOG was passed in December. The grant provides a total of more than $16 billion in federal relief to independent music venues, promoters, talent agencies, museums and movie theaters that were forced to shutter during the global pandemic.  

According to  policies, the SBA will reach out to award recipients as soon as the final decisions are made. The SBA will then send a notice of award, which serves as a legally binding issuance of the grant. Once venues sign the agreement and accept the funds, they are obligated to carry out the full terms and conditions of the agreement. Venues will need to keep documentation regarding how they used the funds, retain employment records for four years following their receipt of a grant and retain all other records for three years. 

Source : Billboard More   

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Lil Nas X’s ‘Montero’ Tops Both Billboard Global Charts, Billie Eilish’s ‘Your Power’ Debuts in Top 10

Lil Nas X's "Montero (Call Me by Your Name)" is the biggest song in the world, as it rebounds from No. 2 to No. 1 for its fourth week atop the Billboard Global 200 chart and scores its second week atop the Billboard Global Excl. U.S. survey.

Lil Nas X’s ‘Montero’ Tops Both Billboard Global Charts, Billie Eilish’s ‘Your Power’ Debuts in Top 10

Lil Nas X’s “Montero (Call Me by Your Name)” is the biggest song in the world, as it rebounds from No. 2 to No. 1 for its fourth week atop the Billboard Global 200 chart and scores its second week atop the Billboard Global Excl. U.S. survey.

Plus, Billie Eilish’s “Your Power” debuts in the top 10 of both global charts; The Kid LAROI and Miley Cyrus’ “Without You” zooms 30-10 on the Global 200 following the release of its remix with Cyrus; and Sebastián Yatra and Myke Towers’ “Pareja del Año” reaches the Global Excl. U.S. top 10, bounding 17-9.

Billboard’s two global charts (the latest of which are dated May 15) began last September and rank songs based on streaming and sales activity culled from more than 200 territories around the world, as compiled by MRC Data. The Billboard Global 200 is inclusive of worldwide data and the Billboard Global Excl. U.S. chart comprises data from territories excluding the U.S.

Chart rankings are based on a weighted formula incorporating official-only streams on both subscription and ad-supported tiers of audio and video music services, as well as download sales, the latter of which reflect purchases from full-service digital music retailers from around the world, with sales from direct-to-consumer (D2C) sites excluded from the charts’ calculations.

‘Montero’ Back to No. 1 on Global 200

Lil Nas X’s “Montero (Call Me by Your Name)” lifts 2-1 for its fourth total week atop the Billboard Global 200 with 84.2 million streams (down 14%) and 5,900 sold (down 29%) worldwide in the April 30-May 6 tracking week.

Justin Bieber’s “Peaches,” featuring Daniel Caesar and Giveon, rises 3-2 on the Global 200 following its two-week reign; The Weeknd and Ariana Grande’s “Save Your Tears” drops to No. 3 after topping the chart a week earlier, following the April 23 release of its remix with Grande; Dua Lipa’s “Levitating,” featuring DaBaby, holds at its No. 4 high; and Doja Cat’s “Kiss Me More,” featuring SZA, repeats at its No. 5 best.

Elsewhere in the Global 200’s top 10, Billie Eilish’s “Your Power” debuts on the chart at No. 6 with 64.2 million streams and 8,200 sold worldwide in the April 30-May 6 tracking week, following its April 29 release. Eilish adds her second top 10 since the list launched, after “Therefore I Am” debuted and peaked at No. 2 in November. Both songs are from her album Happier Than Ever, due July 30.

Plus, The Kid LAROI and Miley Cyrus’ “Without You” blasts 30-10 on the Global 200. Following the April 30 release of its remix with Cyrus, the song surges with 36.9 million streams (up 85%) and 11,900 sold (up 155%) globally in the week ending May 6. The Kid LAROI, from Australia, and Cyrus (credited on the chart on “Without You” for the first time, as the remix accounted for the majority of the title’s overall activity in the tracking week) each make their first appearance in the top 10.

‘Montero’ Also No. 1 Outside U.S.

Lil Nas X’s “Montero (Call Me by Your Name)” adds its second week at No. 1 on the Global Excl. U.S. chart, with 62.2 million streams (down 13%) and 3,000 sold (down 9%) in territories outside the U.S. in the April 30-May 6 tracking week.

Justin Bieber’s “Peaches,” featuring Daniel Caesar and Giveon, rebounds 3-2 after five weeks at No. 1 on the Billboard Global Excl. U.S. chart; The Weeknd and Ariana Grande’s “Save Your Tears” slips to No. 3 from its No. 2 high; and Dua Lipa’s “Levitating,” featuring DaBaby, lifts 5-4 after reaching No. 3.

Billie Eilish’s “Your Power” debuts at No. 5 on the Global Excl. U.S. chart with 42.7 million streams and 4,000 sold outside the U.S. As on the Global 200, she scores her second Global Excl. U.S. top 10, after “Therefore I Am” reached No. 2 in November.

Additionally in the Global Excl. U.S. top 10, Sebastián Yatra and Myke Towers’ “Pareja del Año” reaches the region, jumping 17-9 (42.7 million streams, up 27%). The former, from Colombia, achieves his first Global Excl. U.S. top 10, while the latter, from Puerto Rico, adds his third, following “Caramelo,” with Ozuna and Karol G (No. 10, September), and “Bandido,” with Juhn (No. 6, February).

The Billboard Global 200 and Billboard Global Excl. U.S. charts (dated May 15) will update on Billboard.com tomorrow (May 11). For both charts, the top 100 titles are available to all readers on Billboard.com, while the complete 200-title rankings are visible on Billboard Pro, Billboard’s subscription-based service. For all chart news, you can follow @billboard and @billboardcharts on both Twitter and Instagram.

Source : Billboard More   

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