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Clever Barometer on Musician Costs
So how are today's musicians doing economically compared to past years? Not bad if you take the word of the 2010 PNC Christmas Price Index.® The Wealth Management division of Pittsburgh-based PNC Bank is just out with its 27th annual analysis of the gifts contained in The Twelve Days of Christmas. The survey shows this year's ...
How Did Music Do on Black Friday?
(UPDATED) The music industry got at least a sideways bump on Black Friday as mp3 players remained among the season's most popular gifts. No specific numbers were released, but mp3 players along with video game consoles and computers including tablets were among the top 3 most popular electronic purchases, according to interim results from the Consumer ...
Spotify Lost $26.5 Million in 2009. What Does That Say About It's Future?
(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 ...
WMG Revenues Decline 13%, Digital Sales Grew 7%
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 ...
Major Cuts Planned at Universal Music Group
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 ...
Fewer Than 30,000 Artists Are Making a Living
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 ...
Getting Your Music into China, Part Three: Interview with the Founders of Rock in China!
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. ...
Social is Not Just About Sharing, It's Also Commerce
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 ...
What's Your Criteria of Making a Living from Music?
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 ...
Video: Monetizing the Concert Experience
Midem recently posted the video of a portion of the panel I hosted earlier this year, Monetizing the Concert Experience, and after yesterday's dismal earnings report from Live Nation it seems particularly appropriate to share it here. If revenue from live music is going help offset declining music sales, it's clear that we need to find ...
