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Official: Myspace Cuts 500, 47% of Staff
In an official statement today, MySpace CEO Mike Jones confirmed that about 500 employees will be cut globally. “With our recent relaunch as an entertainment destination for Gen Y, we introduced a much tighter focus, a significantly streamlined product and an updated technology platform," according to Jones. The cuts come at the same time that parent ...
SoundCloud Raises $10 Million in Venture Funding to Scale Faster and Expand in U.S.
Last week, RootMusic received $2.3 million to help musicians build better Facebook pages and trueAnthem raised $2.9 million to take another shot at making ad-supported music market work. Then, X5 Music, a Swedish digital-only record label, landed $9 million in funding to help them expand into the U.S. market. Now, SoundCloud has announced receiving $10 million in a funding round ...
Digital Only Label X5 Music Gets $9 Million Venture Funding for U.S. Expansion
Who says venture capitalists don't love music? In the last few days alone, RootMusic received $2.3 million to help musicians build better Facebook pages and trueAnthem grabbed $2.9 million to take yet another stab at the unproven ad supported music market. Now Swedish digital-only record label X5 Music has landed $9.09 million USD from Northzone Ventures, who ...
Chart: How Amazon Can Afford to Lose Money Selling Music Plus Why Facebook and Google Won't
(UPDATE 2) Amazon offers some great deals on music downloads, often selling hit albums for $3.99—$5.00. Sometimes the labels participate with lower wholesale pricing, but often Amazon sells downloads at a loss. Loss leaders are common, but how can Amazon afford to lose money so consistently, and why are Facebook or Google with its pending music ...
TrueAnthem Gets $2.9 Million for Ad Supported Music
San Francisco based trueAnthem has grabbed $2.9 million in first round funding for its online and supported music service according to an SEC filing. It joins Guevara (who hits 160,000 users according to a tweet yesterday) and others in a sector that has seen its share of failures. The startup hopes to help major clients reach ...
Rootmusic Gets $2.3 Million to Help Musicians Build Better Facebook Pages
(UPDATE) According to a filing with the SEC, RootMusic has recieved a total of $2.3 million in funding to build out its popular application that helps musicians design more robust Facebook pages. The company has not yet named the source of the investment. (Update: Funding came from Mohr Davidow Ventures with David Feinleib. It's BandPage app ...
The Top Paying Gigs in Music, 2010...
Forget about Gaga money. Just getting a nice, paying gig in music is a challenge these days, even for well-regarded, capable professionals. But what can you expect to get paid for your specialty? That is the complicated question that the Berklee Career Development Center recently attempted to answer. The result was a pay scale that traverses ...
Live Performances and Music Business Plans
These past two weeks on Music Think Tank, we concentrated on performances and the music business plan. Matthew Ebel wrote about how live performances should give the same experience as performances in church. Marcus Taylor gave his opinion on why money is bad for your band which led to a debate within the MTT community. Kevin ...
Yikes: Last.FM Lost $4.4 Million in 2009...
Looks like CBS is paying more than $280 million for Last.fm—a lot more. According to paperwork unearthed by Music Ally, the scrobbling boondoggle clocked a sizable £2.84 million ($4.4 million) loss last year. And that follows year-2008 losses of £17.1 million ($26.7 million). And, this a gift that keeps on taking: net liabilities reached £22.24 million ...
Indie Music Stores Report Strong Black Friday Sales
Black Friday provided a ray of hope for indie music retailers. “Most did well, with many reporting lines of people waiting to get in," said Michael Bunnell, Director of Coalition of Independent Music Stores (CIMS). “We don't see that often anymore." Store Sales Stats: A few stores struggled with bad weather, but most saw increases of ...
