HTC has just sold half its ownership stake in Beats Audio (aka, Beats by Dre), according to an announcement from the mobile device manufacturer. That moves HTC from a majority position to 25 percent - ie, half its stake - at a loss of roughly $4.9 million according to current valuation assessments. HTC will retain its exclusive deal with Beats; the move closely follows Beats' acquisition of MOG.
Spotify is releasing some hefty stats related to its first-year in the US. That includes a tally of 13 billion song listens, according to VentureBeat, and 27.8 million songs shared since launch. More than 55 percent of those shares are happening through Facebook; more stats as they surface.
Thanks, Facebook. Fender has now scrapped its plans to go public, with Facebook looming as Wall Street's wet blanket. Beyond that, the legendary Fender carried huge baggage for investors, including a massive level of debt and significant issues with its largest distributor, Guitar Center.
And, speaking of Facebook, the fallout from a flopped IPO continues. Nasdaq has just proposed a payout of $62 million to handle losses felt by brokers, up from $40 million previously.
Thankfully, this story keeps improving. Daniel 'Homeless' Mustard, once an alcoholic on the streets with few prospects, is now pitching his upcoming EP on Kickstarter. "I, Daniel Mustard, need your help to finish my upcoming release, 'Fragments of Bone'," the singer wrote. This doesn't look like another Amanda Palmer run, but Mustard has already rustled a few thousand.
Looks like there's widening division in the indie community over the proposed merger between Universal Music Group and EMI. The rifts are largely happening at Impala, where co-president Patrick Zelnik first supported the deal in an interview with the Financial Times, only to be publicly reversed by the organization itself. Now, others are siding with Zelnik, most notably Domino, Ministry of Sound, PIAS, and former Mute owner Daniel Miller.
And the reasons for these freshly-found fractures? The Financial Times is pointing to Universal Music Group itself, which seems prepared to offered Impala-repped labels a right of first refusal on divested labels, as well as access to juicy deals. Separately, Merlin remains adamantly opposed to the deal, based partly on extreme levels of licensing control over digital services like Spotify.
Back in Los Angeles, the legal battle between Digital Music News and Grooveshark continues to plod along. After dialing its subpoena back based on admitted financial problems and intense pressure from litigating major labels, Grooveshark is continuing to push for a much smaller inspection. But that may have to wait awhile: LA Superior Court judge Richard Stone has approved a temporary stay ahead of an appeal, which is already in motion. Separately, Grooveshark has been bouyed by a DMCA-related victory in New York State Court, though serious questions continue surround the company's ability to finance the fight.
Atlanta-based Cox Media Group is now shedding smaller-market radio stations, with an aim at grabbing cross-media plays in bigger cities. On the block are a cluster of stations in Birmingham, Alabama, among others, while various stations are being plucked. "This simplified structure will enable CMG to capitalize on continued growth and synergies, while retaining its size financially," CMG President Doug Franklin relayed.
And, here's the most depressing music industry article ever written. It comes from Billboard.biz, which plunged head-first into the imploding Spanish music market. "There is little cash, no sign of economic growth, no credit, and pessimism all around," writer Andres Cala describes, while blaming the 'freebie' tendencies of Spanish fans and the end of subsidized culture. "The main culprit is the economic crisis as public spending has ground to a halt, namely through subsidized concerts. Online piracy also has for years eaten away at record sales. The music industry simply grew complacent while Spaniards consolidated a freebie music culture."
Written while listening to Nas. More ahead!
steveh Friday, July 20, 2012
"Separately, Merlin remains adamantly opposed to the deal, based on extreme levels of licensing control over digital services like Spotify."
Merlin are corrupt bastards - worse than Universal.
Fuck them and Fuck Spotify.
My Lane Friday, July 20, 2012
The "INdies" stand for nothing if you pay 'em off basically. Give them below- market offers on plum labels and they suddenly have a change of heart.
Even Merlin, you watch them switch. now that's how this really works boys and girls.
Jeremy Saturday, July 21, 2012
You miserable excuse of a blogger. You think you are smart? If something bad happens to Grooveshark, I will find you and shot you in the mouth with my trusty S&W.
Black Beverly Hills Saturday, July 21, 2012
You know Grooveshark's already in deep trouble right? Lawyers admitted the company is running out of money.
paul Monday, July 23, 2012
Okay 'Jeremy', why don't you drop by our offices then to discuss this? I'll make sure there are plenty of associates in our meeting. That is, if you have the balls to identify yourself (which you don't)...
balbers Monday, July 23, 2012
Ya, because if anything bad happens to Grooveshark, it's Paul's fault, right Jeremy? Because none of what's happening to Grooveshark is of their own doing, right?
wallow-T Saturday, July 21, 2012
Spain: "Unemployment is expected to top 25%," from the Billboard article. Let me know in which country one finds a thriving music business in an economic depression.
come on Sunday, July 22, 2012
Perhaps if those societies respected their culture more, they could build their economy back up.
Spain. Italy. Greece. What the fuck is wrong with you? You have advantages that other countries can't even dream of. Export your culture, get foreign currency in your hands quickly, build relations with new territories.
It is not that hard to set up. Yes, you need to leave behind the fallacies of the past. And end the piracy nonsense once and for all. As in put a gun on the head of any piece of shit that tries to scam your artists. Yeah, you read that right. A gun. On. The. Head.
What the fuck do you need riot squads? Disband them and hire people who know about money laundering, mafia tactics, e.t.c. Form them into small tight groups and go after the scammers.
Can't be bothered?
Well, keep sucking Merkel's dick.
YO! Monday, July 23, 2012
Resnikoff is slang for THUG LIFE, yo.
HJG Monday, July 23, 2012
Isn't PAUL Resnicoff the brother or cousin of BRUCE Resnikoff, who is a top executive at...Universal, UMG? Answer: YES. Collusion. Corruption. More sleazoid music biz dealings all under the veil of self-righteous music journalism when they're the ones PERPETRATING. Biggest j o k e of all Haw haw haw. Go dig a hole and jump back into it all the Resnikoff's. Aided by that lawyer in BevHills who's ENABLING both the "Paul" and the "Bruce". Just be honest and stop acting like a little baby, ADMIT IT PAUL! Now you're threatening bodily harm to this blogger because of his opinion (albeit kinda confrontational and inflammatory). That is just UNprofessional and, yes, he's right...very THUGGY of U! : ((
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