Sonos files for IPO, revealing massive losses in the process.
Sonos has filed for an IPO. The company hopes to raise $100 million. The filing has shown that last year, despite a 10% increase in revenue, Sonos lost $14.2 million. The company also lost $68.8 million and $38.2 million in 2015 and 2016, respectively.
There are also some serious competitive threats and vulnerabilities. In the filing, Sonos also revealed that Amazon could disable its Alexa integration in the company’s smart speaker models “on limited notice.”
Reminder – UK’s anti-bot law has come into effect.
A law banning the use of automated ticketing purchase software has gone into effect in the UK. The legislation prohibits the use of bots to purchase event tickets and includes “unlimited fines” for offenders.
Female fan allegedly beaten outside of House of Blues.
Five people outside the House of Blues Chicago allegedly beat a woman while security stood nearby and watched. Carly Whitaker claims security escorted her out of the venue after a man demanded her friend move. She has stitches inside and outside her mouth and can only see out of her left eye. Whitaker plans to sue the House of Blues, which reportedly denied requests for comment.
Cardi B countersues Klenord Raphael.
Cardi B – real name Belcalis Almanzar – has filed a counterclaim against her former manager, Klenord Raphael. He had filed a lawsuit against the rapper in April, claiming she had cut him off once she became popular. Raphael also claims Almanzar and her publicist, Patientce Foster, belittled him on social media. The rapper’s $15 million counterclaim denies Raphael’s allegations.
What’s Drake worth… to the city of Toronto?
Drake’s connection to Toronto is worth money — an estimated $440 million, according to Gordon Hendren, a consultant for various Toronto brands. Hendren told Vice News Tonight that the Drake effect now accounts for about 5% of Toronto’s total tourism economy. Even Drake’s coined ‘6ix’ is reshaping life in the city, with the name popping up on various businesses.
’Ddu-Du Ddu-Du’ becomes the most-watched K-Pop music video within 24 hours on YouTube.
Blackpink, a female K-pop quartet, has broken the record for the most-viewed Korean music video on YouTube within 24 hours of its release. ‘Ddu-Du Ddu-Du’ had over 36.2 million views within the timespan. Psy’s ‘Gentleman’ and BTS’ ‘Fake Love’ had 36 million and 35.9 million views, respectively.
Taylor Swift’s ‘Look What You Made Me Do’ still holds the record of highest official 24-hour views on the platform with 43.2 million views.
Music fans in Malaysia sure love K-Pop.
According to a new report, Malaysian music fans have streamed over 1.4 billion hours of K-pop music in the past five years on Spotify. Benjamin Chelliah, Spotify Asia’s Head of Communications, shared the news. Global users on the streaming music platform have also spent over 14.5 billion minutes listening to their favorite Korean tracks.
Chris Brown arrested and charged for felony battery.
Authorities in West Palm Beach, Florida have arrested and charged Chris Brown with felony battery. Following a performance there last year, he allegedly attacked a photographer. Brown posted a $2,000 bond.
Can ‘Rocket Man’ put an end to North Korea’s nuclear plans?
US Secretary of State Mike Pompeo has left to North Korea for further denuclearization talks with two gifts for Kim Jong-un – a letter from President Donald Trump and an Elton John CD with the hit song, ‘Rocket Man.’ The gifts reflect the US President’s desire to follow through with an agreement signed in Singapore last June.
Malu Trevejo sues Universal Music Latin.
Malu Trevejo has moved to voided her contract with Universal Music Latin. She claims the deal, signed when she was underage, was never certified by a court. Trevejo signed a recording agreement with the label last year when she was 14. She has also sued the record label to disaffirm the deal. Following the release of ‘Luna Llena’ (Full Moon), the singer reportedly faced professional and personal difficulties with the label.
‘Whitney’ to debut at 450 movie theatres.
Roadside Attractions and Miramax’s new Whitney Houston documentary, simply titled Whitney, will get released on 450 screens this weekend. Analysts expect the film to “fill a niche for adult-oriented alternatives to the usual summer blockbusters.”
Las Vegas PD re-opens Tupac Shakur’s murder case following the airing of a documentary.
Two documentaries into the death of Tupac Shakur have spurred the Las Vegas Metropolitan Police Department to take a fresh look at the murder case. In BET’s documentary, Death Row Chronicles, Keefe D, the uncle of a former person of interest, shared new details about the shooting which led to Shakur’s death. In Netflix’s recent documentary, Unsolved: the Tupac and Biggie Murders, Keefe D made the same confession.
Authorities in Las Vegas said in a press release,
“We are aware of the statements made in a BET interview regarding the Tupac case. As a result of those statements we have spent the last several months reviewing the case in its entirety. Various reports that an arrest warrant is about to be submitted are inaccurate. This case still remains an open homicide case.”
WMG signs partnership with IMS.
Warner Music Group has signed a new partnership with Internet Media Services, a Sony Pictures subsidiary. The label hopes to boost advertising revenue in under-monetized parts of the world. IMS will manage ad inventory for WMG’s YouTube channels in Russia, Poland, Spain, Portugal, and Latin America (sans Brazil).
Bandsintown adds Events Landing Pages.
Bandsintown has added a new feature – an Events Landing Page. The concert-discovery service will help artists promote their upcoming performances on social media platforms, including Instagram Stories.
Stephen Glick and Jordan Stone team up to launch Project Admission.
Stephen Glick, Songkick’s former Head of Business Development, and Jordan Stone, a digital executive for Taylor Swift, have announced the launch of Project Admission. Based in Nashville, the company will track digital ticket ownership and increase revenue through managed exchanges.
DEAG buys out MyTicket AG from Starwatch Entertainment.
DEAG, a German entertainment company, has bought out European ticketing platform, MyTicket AG. The company has reacquired 24.9% of the platform’s shares from Starwatch Entertainment GmbH. DEAG’s shares in MyTicket AG now total 75.1%.
Rian Liebenburg named Kobalt Music’s next CTO.
Kobalt Music has hired Rian Liebenburg as its next Chief Technology Officer (CTO). Richard Thompson, the company’s current CTO, will step down to serve as Emeritus CTO. Liebenburg has served at Schibsted ASA and Schibsted Media Group.
Featured image by Tony Evans (CC by 2.0)