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Spotify Lost $26.5 Million in 2009. What Does That Say About It's Future?
Source:
HypeBot
(Updated) Music Ally and others have jumped on figures published by Spotify that show a '09 loss of $26.5 million. TechCrunch Europe declared that the numbers show that U.S. expansion is now “imperative." But year old figures for a startup don't begin to tell Spotify's story or provide a prediction of it's future. Not only did Spotify get substantial funding earlier this year, but according to the latest official Spotify numbers from October, the music service now has 10 million ...
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WMG Revenues Decline 13%, Digital Sales Grew 7%
Source:
HypeBot
In SEC filings this morning, Warner Music Group reported revenue of $752 million, a decline of 13% from the prior year quarter (-12% on a constant currency basis). Full year 2010 revenue declined 7% to $2,984 million (-9% on a constant currency basis). Despite declining revenue, cost cutting helped grow the company's cash war chest to $430 million, perhaps in anticipation of a bid EMI. Slow Digital Growth & Big Severance Packages: Quarterly digital revenue grew 7% from the previous ...
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Major Cuts Planned at Universal Music Group
Source:
HypeBot
As profits at The Universal Music Group stumbled in the first 9 months of 2010, senior executives promised new cost cutting measures particularly in the U.S. There is “very, very significant potential" for savings," according to Phillipe Capron, Vivendi's Chief Financial Officer. “A lot of fat can be taken out without hurting muscle and bones." The world's largest label group just reported earnings before interest tax and amortization of $334 million in the first nine months of 2010. That's down ...
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What's Your Criteria of Making a Living from Music?
Source:
HypeBot
First, if you're making a living from music or know someone who is, we'd like to hear from you. For the rest, we're curious as to what making a living from music means. Yesterday, we talked about the stat touted by Ian Rogers that fewer than 30,000 artists make a living from music. As expected, lots of readers disagreed. So, in accordance, we'd like to ask you the following: Are you making a living from music? If yes, how so? ...
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Social is Not Just About Sharing, It's Also Commerce
Source:
HypeBot
Michael Brandvold introduces the new tool, CommerceSocial, that allows for artists to sell their music directly to fans on a Facebook post. This innovative tool utilizes word-of-mouth recommendations that are popular on social media websites like Facebook or Twitter. Fans can buy music on Facebook and share the product on their walls. CommerceSocial works on other social media websites as well so artists can post their stores wherever fans are. “This mini shopping cart allows the fan to instantly make a ...
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Getting Your Music into China, Part Three: Interview with the Founders of Rock in China!
Source:
We All Make Music
As you might have heard, there are people out there who think this whole Getting Your Music Into China series is a bad idea. But in the interest of providing some additional information about what's going on inside China, I sat down with Rock in China! founders and editors Max Leonhard von Schaper and Yang Yu. In this exclusive interview, they discussed current musical trends, how to get your music into the Chinese rock scene, tips, pointers and tricks, creative ...
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Fewer Than 30,000 Artists Are Making a Living
Source:
HypeBot
Topspin CEO Ian Rogers reported this weekend that fewer than 30,000 artists are making a living from music. Citing data from Songkick cofounder Ian Hogarth, who examined his database of bands, the types of venues they played, and the likely incomes affiliated with those venues, Rogers presented this data and determined that this number is probably correct. However, he added, the number could be lower or higher depending on how you define what making a living is. Along with this ...
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Why is Music Cheaper Now? It's Supply and Demand.
Source:
HypeBot
Artists such as Sufjan Stevens think that selling albums for $3.99 is unfair, but Stevens does not recognize that the market has caused prices to fall. Brian Franke explains why music is cheaper now with an economics lesson on supply and demand. He explains that when people want more (higher demand), then people will pay more to get it. When there is a huge supply of music, then people demand less of it and want to pay less. He explains ...
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