More Weekend Bits: TuneSat, Live Nation+Ticketmaster, Rhapsody, Gracenote, Volvo, Licensing, Leadership, Wall Street…
*TuneSat, a company specialized in monitoring and detecting TV-related song plays, has just raised $975,000. *The planned merger between Live Nation and Ticketmaster has hit a snag in the UK. The UK Competition Commission is reopening the matter following a complaint by German-based ticketing agency CTS Eventim, pushed through the Competition Appeal Tribunal.
Guy Hands Proposed Separation of EMI Recording, Publishing Units…
The messy situation at EMI Group is only getting messier, thanks to a contentious lawsuit between Terra Firma and Citigroup. Now, that legal battle is starting to produce fresh documentation on a deal gone seriously bad.
Better Than We Thought: Wall Street Bumps WMG…
Warner Music Group shed $17 million – or 11 cents per share – during the fourth quarter, a sharp reversal from year-ago gains. But Wall Street was expecting something worse – closer to 14 cents according to Thomson Reuters – and shares moved upward in Tuesday trading. At the bell, WMG finished at $5.02, a 4.8 percent gain over the [...]
Breaking: WMG Swings to $17 Million Loss, Digital Still Gaining…
Warner Music Group reported a $17 million quarterly net loss this morning, though revenues and digital formats showed resilience. The loss, for the quarter ending December 31st, follows a year-ago gain of $23 million.
Steve Jobs on Google: “Don’t Be Evil” Is “BS”…
Google outgrew its humble britches long ago, though like Apple, it retains a super-coolness that few companies share. But Apple and Google are becoming heated rivals, and in a company meeting last week, Steve Jobs reportedly took quite a stab.
eMusic Licenses Warner Music Group Content…
Traditionally indie-focused eMusic has now licensed content from major Warner Music Group, according to details shared by the companies early Tuesday morning. The deal spans recordings from Atlantic Records, Rhino Records and Warner Bros. Records, as well as various independent labels distributed through WMG-owned ADA. “We are pleased to be making our music available to eMusic’s passionate membership,” said Stephen [...]
Rdio Makes Its Debut, Privately, On the Apple App Store…
Rdio has chosen the iPhone as its launchpad, a good a place as any. This week, the heavily-anticipated music startup suddenly surfaced on the App Store, reachable only to private beta testers. That club appears quite small and restricted at the moment, and probably includes a handful of developers, executives, and backers.
Breaking: Warner Music Posts Substantial Quarterly, Annual Losses
Warner Music Group posted substantial quarterly and fiscal year losses early this morning, thanks largely to recorded sales declines and restructuring costs. According to details shared ahead of the opening bell on Wall Street, losses at Warner Music (WMG) reached $18 million (12-cents per share) for the period ending September 30th, a reversal from a year-ago quarterly gain of $6 [...]
Vevo. Arriving December 8th…
Vevo now has a launch date. According to a tweet from executives at the joint venture, the unveiling happens December 8th, inline with earlier calls for a late-year launch. “Vevo is launching the night of Tues., Dec. 8th,” the tweet confirmed.