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This Man Is The Secret Weapon That Investors Believe Will Save SoundCloud
Source:
HypeBot
News came late last week that SoundCloud had been saved, for now, by an emergency $169.5 million cash infusion. Co- founder Alex Ljung would step aside to make room for new CEO Kerry Trainor. But how can the new exec turn the deeply unprofitable music streamer around? Fortunately, he has a secret weapon, Fred Davis. Over the last few weeks, even as SoundCloud teetered on the brink of total collapse, long time music industry advisor and investor Fred Davis, saw ...
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Amazon Is Eyeing U.S. Ticketing Business
Source:
HypeBot
Amazon is reportedly seeking to become a source for event tickets in a move that may challenge Ticketmaster's dominance of the ticketing business. According to Reuters, Amazon sees the U.S. ticketing market as a “ripe" field for business development by the e-commerce giant, driven by consumer dislike of ticket fees and venue owners and sports leagues who want alternatives for ticket distributors. Amazon has already found some success in their initial foray into live event ticketing in the UK, where ...
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Join The World's First Live Facebook Festival - A Call To Artists and Fans
Source:
HypeBot
In this latest post to MusicThinkTank, we look at Right Chord Music's creation of a new type of music festival, that harnesses the power of Facebook Live, inviting bands and artists from around the world to occupy their Facebook newsfeed in an innovative live music experience. Harnessing the power of Facebook Live, new music blog Right Chord Music has created a new type of music festival, inviting bands and artists from across the world to takeover their Facebook newsfeed. The Takeover Festival ...
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Steely Dan’s Donald Fagen Just Doesn’t Get It (Unless He Does?)
Source:
HypeBot
Steely Dan's Donald Fagen was recently quoted griping about how he is no longer making enough money from his recorded music, and although it's hard to feel too badly for someone as financially successful as Fagen, his frustration does provide us with an interesting snapshot of music revenue overtime. Guest post by William Paterson University Professor David Philp from Musicbiz 101 When a multi-millionaire complains that he’s not making enough money anymore, it’s hard to feel sorry for him. When that multi-millionaire complains out ...
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SoundCloud Saved By Emergency $169.5M Investment As CEO Ljung Steps Aside [OFFICIAL]
Source:
HypeBot
SoundCloud has closed an emergency round of funding that will allow the struggling streamer stay online, Co-founder and CEO Alex Ljung will step aside as a new leadership team takes control. SoundCloud has closed a reported $169.5 million emergency in funding that allows the struggling streamer and audio hub to stay online. Co-founder Alex Ljung will leave his CEO role, but continue to serve as chairman, Vimeo CEO Kerry Trainor will take over as CEO, Mike Weissman becomeS COO and ...
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'1984', New Rembrandt And Spotify's 'Fake Artists'
Source:
HypeBot
Life appears to be imitating art as a number of strange parallels between the dystopian George Orwell novel 1984 have begun to manifest in the form of fake art and fake artists designed to entertain the masses. Guest post by Laura Kobylecky from Music Technology Policy “It was only an ‘opeless fancy. It passed like an Ipril dye, But a look an’ a word an’ the dreams they stirred! They ‘ave stolen my ‘eart awye! The tune had been haunting London for weeks ...
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Disney Pulls Content From Netflix To Start Own Paid Service. Could The Same Siloing Happen In Music?
Source:
HypeBot
Disney is pulling much of its core content from Netflix, so that it can launch its own paid streaming service. Could this happen in music? Universal execs say that they don't believe in “exclusive" releases on specific music streamers But what if the world's largest label group pulled all of its music off Spotify, Apple Music and their competitors to start and profit from its own paid streamer? The idea is not that far fetched. Read why it might- and ...
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WMG Reports Strong Q3 Driven By Streaming Revenue
Source:
HypeBot
Warner Music Group Corp. today announced third quarter financial results for the period ending June 30, 2017. It was WMG's strongest quarter in years. Net income was $143 million, compared to a $7 million loss in the prior-year quarter. Total revenue grew 13.1% or was up 15.5% in constant currency. Digital revenue grew 30.2% or was up 33.0% in constant currency. Net income was $143 million vs. $7 million loss in the prior-year quarter. OIBDA was $115 million vs. $120 million ...
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