Guns N’ Roses, with original members Axl Rose, left, and Slash, perform in Los Angeles in 1985. Getty Images
Guns N’ Roses, with original members Axl Rose, left, and Slash, perform in Los Angeles in 1985. Getty Images
Guns N’ Roses, with original members Axl Rose, left, and Slash, perform in Los Angeles in 1985. Getty Images
Guns N’ Roses, with original members Axl Rose, left, and Slash, perform in Los Angeles in 1985. Getty Images


Don't call it a comeback! Why old is gold in the global music scene today


  • English
  • Arabic

April 27, 2023

Early last month, a handful of British pop music acts performed at a Dubai beach club for a multi-act mini-festival of 1980s music. The event, titled Rewind, stretched from mid-afternoon to late evening and served up an intoxicating mix of nostalgia and fun for concertgoers. It was a hoot, in fact.

The formula for these retro events is both simple and effective. Each of the rolling cast of acts gets about half an hour on stage and plays the greatest hits of their back catalogue. By sticking to the familiar, pretty much every tune was a singalong for the crowd.

Tony Hadley, formerly of Spandau Ballet, topped the bill, belting out hit after hit as if it was, well, 1984 all over again, but the depth of what could loosely be called the undercard of seven support acts was impressive to anyone familiar with that era, including Altered Images, Go West and Heather Small.

The “heritage” circuit, as our music critic Saeed Saeed calls it, is in good health in the UAE, with many more established acts either visiting soon or having been through here already.

This weekend, Texas, who’ve released best-selling records in every decade since the 1980s, play in Dubai. Next week, the emirate hosts the Back to the 90s revival festival, similar in format to Rewind. The UK Pink Floyd Experience will appear at Dubai Opera later in May. Earlier this year, Sting brought his My Songs tour to Abu Dhabi. In June, Simply Red play in Dubai, while Guns N Roses will appear in Abu Dhabi.

A timeline of Spotify accomplishments is pictured on a wall at the entrance to the company headquarters in Stockholm in 2015. AFP
A timeline of Spotify accomplishments is pictured on a wall at the entrance to the company headquarters in Stockholm in 2015. AFP
Given the choice of millions of songs, many music-streaming service subscribers are going back to what they know already

The caravan rarely stops in a post-pandemic world hungry once more to hear live music. It might even be moving more quickly.

There was a time when the kind of roster of concerts detailed above may have suggested promoters were playing it safe by bringing in older or established acts to guarantee well-attended shows. But are the same impulses at play today?

It may not be quite as straightforward as that, particularly as the streaming era has fundamentally changed how we consume music and, more profoundly, who we listen to.

Given the choice of millions of songs, many music-streaming service subscribers are going back to what they know already. Younger listeners, meanwhile, are also tapping into decades-old songs at the expense of contemporary releases. Out with the new, in with the old, you might say.

Spotify data shows more so-called “catalogue” songs – those songs that are more than 18 months old – are appearing on its charts than ever before. One third of the tracks appearing in its top 200 global weekly chart in 2022 fits that category, up from 13 per cent in 2020. The same data found that almost 75 per cent of what the company terms “active streams” arise from catalogue listens. Active streams are defined as songs played from playlists, liked songs and artist profile pages.

Younger listeners, those under 25, are also listening to more older music than ever before, sometimes spurred by heritage acts appearing on the soundtracks for new films or TV series.

Last year, Kate Bush became the oldest female artist to get to number one in the UK. Redferns
Last year, Kate Bush became the oldest female artist to get to number one in the UK. Redferns

Kate Bush’s Running Up That Hill is the standout example of that phenomenon, with the 1985 song experiencing a huge surge in popularity 37 years after its original release, propelling the artist to the top of the UK charts following its appearance in the Netflix series Stranger Things. Then 63 years old, Bush also became the oldest female artist to get to number one in the UK. The song has had about 1 billion listens on Spotify and several hundred million more views on YouTube.

Some argue that this is bad for the music business marketplace in general. A provocatively titled essay in The Atlantic asked whether old music was killing new music when it was published last year, noting that those catalogue songs now account for more than two thirds of the US music consumption. That essay also charted the rise in the old releases of storied artists being bought by investment funds to make hay with. The two factors could serve to squeeze the space for new music to gain traction, particularly as cash and resources may end up flowing towards catalogue artists rather than emerging talent.

Certainly, the nexus between the golden age of soundtrack-hungry TV that we now live in serving to raise the profiles of once-forgotten songs, the availability of pretty much every track ever released on demand combined with the algorithmic approach to music curation and, perhaps, a pandemic-induced wave of nostalgia, have served to turbocharge interest in older acts.

Will these mean we will see more heritage acts performing more of the time? I am not so sure.

Returning to the Rewind event last month, the vast majority of concertgoers were there, I’d imagine, because those artists provided some of the soundtrack to their 1980s youth. Younger listeners, particularly Gen Zers and millennials, may be seeking out older artists on streaming platforms, but for now, at least, they don’t necessarily want to see them play those songs live.

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Korean Film Festival 2019 line-up

Innocent Witness, June 26 at 7pm

On Your Wedding Day, June 27 at 7pm

The Great Battle, June 27 at 9pm

The Witch: Part 1. The Subversion, June 28 at 4pm

Romang, June 28 at 6pm

Mal Mo E: The Secret Mission, June 28 at 8pm

Underdog, June 29 at 2pm

Nearby Sky, June 29 at 4pm

A Resistance, June 29 at 6pm 

 

Fixtures and results:

Wed, Aug 29:

  • Malaysia bt Hong Kong by 3 wickets
  • Oman bt Nepal by 7 wickets
  • UAE bt Singapore by 215 runs

Thu, Aug 30: 

  • UAE bt Nepal by 78 runs
  • Hong Kong bt Singapore by 5 wickets
  • Oman bt Malaysia by 2 wickets

Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal

Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore

Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong

Thu, Sep 6: Final

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

SCORES

Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

MATCH INFO

Hoffenheim v Liverpool
Uefa Champions League play-off, first leg
Location: Rhein-Neckar-Arena, Sinsheim
Kick-off: Tuesday, 10.45pm (UAE)

The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

England Test squad

Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.

UAE cricketers abroad

Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.

Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.

Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.

Updated: April 27, 2023, 2:00 PM