Posted by Glen Sears | August 14, 2017 9:22 am | No Comments
SoundCloud Accepts $170 Million Rescue, Taps New CEO to Replace Alex Ljung. The Raine Group, a boutique merchant bank, joined with the Singapore-based investment company Temasek, in leading a $169.5 million investment round that infuses SoundCloud with much-needed cash, and former Vimeo CEO Kerry Trainor succeeds founder Alex Ljung as chief executive.
3 Things Soundcloud Should Do To Stay Afloat. The Next Web suggest that “beyond just reshuffling upper management, there are a few things the company can do to stay alive, now that it’s starting a new chapter with a leaner team.”
TIDAL Names 4th CEO In 2.5 Years, Former Kobalt, Sony Exec Richard Sanders. Sanders joins as Kanye West threatens a major lawsuit, but buoyed by a $200 million investment from Sprint, which acquired a 33% stake of TIDAL in January.
Amazon Is Eyeing U.S. 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.
Posted by Glen Sears | August 7, 2017 9:19 am | No Comments
Could A Major Label Have Rescued Soundcloud? According to MBW, “SoundCloud’s first-on-the-ground relationship with millions of musicians could be of immense strategic A&R value to any large rights-holder interested in being first to frontline signings.”
Spotify Is Set To End 2017 With 70M Subscribers And $5B In Revenue. Spotify’s growth rate looks healthy, according to Music Business Worldwide’s deep dive into their numbers, but they still believe “doubts remain over the long-term viability of Spotify’s current model.”
Apple In Talks Over $1B Buyout Of Major Music & Movie Company In India. Eros is the largest movie producer in India, with the music recordings associated with these movies housed under subsidiary Eros Music.
Facebook Is Hiring For A Music Publishing Head In Europe. Facebook’s ad for the EMEA publishing role notes that the successful candidate will also “collaborate with our product and media partnerships teams to ensure a coordinated and best-in-class licensing structure.”
Sony Music Revenue, Operating Income Up Double Digits In First Quarter. Streaming and physical sales rise, digital downloads fall and Harry Styles’ debut album leads the way in the company’s fiscal Q1 report.
Judge Rules KickassTorrents Founder Artem Vaulin Properly Charged. Vaulin is currently in a jail cell in Poland after the 31-year-old was charged last year by U.S. authorities with running one of the world’s most popular places to illegally obtain movies, television shows, songs and video games.
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