Founder of Trapital: where business shapes culture
San Francisco, CA
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Coachella’s dilemma is this: Big artists no longer need festivals. But festivals cost more money than ever to run.
Higher prices. Fewer A+ level stars. Tougher product to sell.
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I was a guest on NPR this morning to discuss why brands like Wendy's and e.l.f beauty have recently dropped studio albums.
Not just a loose single, full on albums. Listen here:
marketplace.org/story/2026/1…
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Kevin Shivers got sober at 27. At 31, he started in the mailroom at William Morris. At 35 he was an assistant.
Today he's co-president of one of music's biggest agencies.
"It's been a fast ascent, but I've been working on this my whole life."
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit.
03:10 From mailroom to co-president
09:25 Repping Tyler, the Creator
11:33 Festivals squeezed by stadium tours
16:54 Why fans are buying tickets later
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Not surprised Jay Z picked himself for the halftime show but did not expect it would leak before official announcement.
Roc Nation NFL etc rarely lets this get out.
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Kevin Shivers, co-president of The Team, has been Tyler, The Creator's touring agent for the past 14 years.
His next goal is to do some stadium shows.
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit.
03:10 From mailroom to co-president
09:25 Repping Tyler, the Creator
11:33 Festivals squeezed by stadium tours
16:54 Why fans are buying tickets later
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Valkyries merch and jerseys everywhere in San Francisco today. Impressive level of fandom for a 2 year old franchise.
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More fans are buying concert tickets later and later, up to the last minute.
Kevin Shivers, co-president of music at The Team, talks about this trend and why it's happening.
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit.
03:10 From mailroom to co-president
09:25 Repping Tyler, the Creator
11:33 Festivals squeezed by stadium tours
16:54 Why fans are buying tickets later
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No Coachella 2027 lineup announcement yet. Last year it was announced Sep 16.
Still early, but it’s harder than ever to secure the biggest artists.
Coachella’s dilemma is this: Big artists no longer need festivals. But festivals cost more money than ever to run.
Higher prices. Fewer A+ level stars. Tougher product to sell.
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The money that artists make in stadiums and arenas is hurting music festivals.
Kevin Shivers, co-president of The Team, breaks it down:
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit.
03:10 From mailroom to co-president
09:25 Repping Tyler, the Creator
11:33 Festivals squeezed by stadium tours
16:54 Why fans are buying tickets later
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New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit.
03:10 From mailroom to co-president
09:25 Repping Tyler, the Creator
11:33 Festivals squeezed by stadium tours
16:54 Why fans are buying tickets later
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The top 10 artists in the world according to Chartmetric's Global Rank:
1. Taylor Swift
2. Drake
3. Rihanna
4. Justin Bieber
5. Bad Bunny
6. Bruno Mars
7. Ariana Grande
8. Shakira
9. The Weeknd
10. Karol G
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Tubi's deal with @KevOnStage includes:
• capital to create shows
• ownership of the IP
• creative control
• backend participation
It's rare to get all four in a Hollywood deal.
New Trapital episode with @KevOnStage!
We covered it all on stage at this year's Trapital Summit:
02:00 Ownership and creative control
07:29 Why touring is still his biggest revenue source
12:23 Live Nation and Ticketmaster economics
17:23 Why he tours in churches
21:02 Economics for comedians and talent
23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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The TV shows are the least lucrative part of @KevOnStage's business.
Touring is still his top revenue stream, but all the other streams: TV, Tubi, Patreon, and socials have continued to grow.
New Trapital episode with @KevOnStage!
We covered it all on stage at this year's Trapital Summit:
02:00 Ownership and creative control
07:29 Why touring is still his biggest revenue source
12:23 Live Nation and Ticketmaster economics
17:23 Why he tours in churches
21:02 Economics for comedians and talent
23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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More artists than ever can sell out stadiums and gross $10M+ per show. This has reshaped the power dynamics.
These artists are more likely to view music as promotion for touring. They are less likely to headline major festivals. Their opportunity cost is higher than ever.
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"I can make more selling 300 tickets in churches than selling 1,000 tickets in a traditional venue in NY."
@KevOnStage shares why he's prioritizing churches for his next tour.
New Trapital episode with @KevOnStage!
We covered it all on stage at this year's Trapital Summit:
02:00 Ownership and creative control
07:29 Why touring is still his biggest revenue source
12:23 Live Nation and Ticketmaster economics
17:23 Why he tours in churches
21:02 Economics for comedians and talent
23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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KevOnStage said his agent took 10% to make calls he could make himself. So he parted ways with the agent and started going direct.
Now @KevOnStage wants to do the same elsewhere in his live touring business.
New Trapital episode with @KevOnStage!
We covered it all on stage at this year's Trapital Summit:
02:00 Ownership and creative control
07:29 Why touring is still his biggest revenue source
12:23 Live Nation and Ticketmaster economics
17:23 Why he tours in churches
21:02 Economics for comedians and talent
23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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New Trapital episode with @KevOnStage!
We covered it all on stage at this year's Trapital Summit:
02:00 Ownership and creative control
07:29 Why touring is still his biggest revenue source
12:23 Live Nation and Ticketmaster economics
17:23 Why he tours in churches
21:02 Economics for comedians and talent
23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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The first $60M is the hardest.
Primary Wave CEO Larry Mestel compares raising $60M in 2006 to raising $2.2B in 2026.
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all:
• New $2.2B fund
• How Bob Marley's earnings grew 4x
• Primary Wave’s acquisition of Kobalt
• Is there too much capital in music rights?
• Does Primary Wave pay too much for catalogs?
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The Migos - Hotel Lobby meme is fun use of AI but I hope people don’t stop doing the big viral dance or song videos.
Black Beatles, Harlem Shake, etc. People had their own outfits, full choreography, everything.
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Sia sold 50% of her music catalog for $180M. The valuation may seem high at $360M but her music streams well.
Five songs with 2B+ Spotify streams. Sia wrote Rihanna's "Diamonds" which has 2B+ streams. Strong portfolio across the board.
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"We are less sensitive to multiples than most of our competitors."
Primary Wave CEO Larry Mestel shares his approach to buying music catalogs.
Critics say that Primary Wave spends too much on catalogs, but Larry is willing to pay higher multiples for iconic music.
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all:
• New $2.2B fund
• How Bob Marley's earnings grew 4x
• Primary Wave’s acquisition of Kobalt
• Is there too much capital in music rights?
• Does Primary Wave pay too much for catalogs?
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