Recap: Pandora Founder Back as CEO, RIAA Releases 2015 Industry Numbers, YouTube Monetization Explained
Posted by Glen Sears | March 28, 2016 10:38 am | No Comments
Story of the Week
Pandora Names Founder Tim Westergren CEO As Part Of Broad Executive Restructuring
Brian McAndrews is out and founder Tim Westergren is in, as the CEO of Pandora, effective immediately. The move is part of a broader restructuring at Pandora, aimed at restoring investor confidence and in anticipation of a possible future sale. Tim Westergren has long been the public face of Pandora, preaching his Music Genome gospel to literally anyone who would listen. Pushed aside in the board room as the company grew and went public, Westergren is now back in charge as Pandora’s new CEO—which is likely great news for artists.
A former touring musician, Tim Westergren has always been a champion of Pandora’s efforts to provide artist data and marketing opportunities. “I am incredibly excited about the future of Pandora. We’re on the cusp of realizing an extraordinary vision: fundamentally changing the way listeners discover and enjoy music, and the way artists build and sustain their careers,” said Westergren. “We are pursuing a once-in-a-generation opportunity to create a massive, vibrant music marketplace. We have the audience, the technology infrastructure, the monetization engine and most importantly the right team with the passion and commitment to do it.”
Current independent member Jim Feuille is Chairman of the Board. “Tim is the ideal CEO for Pandora as we embark on our next phase of growth,” he said in a statement. “As the original founder, Tim carries the vision for how Pandora can transform the music industry and he is uniquely able to connect with listeners, music makers and employees.”
Top Music News Headlines
U.S. Recording Industry Sees Slight Uptick in Revenue Last Year, Streaming Dominates Digital. The 2015 numbers, released last week by the RIAA, arrive bearing both good and bad news for the players in the digital music space.
Vinyl Sales Made More Than YouTube, Spotify and Soundcloud Ads Combined… RIAA figures revealed that vinyl sales made $416 million, while the combined total ad revenue from streaming sites Soundcloud, Spotify and YouTube accounted for only $385 million.
…But Vinyl Sales May Not Have Made More Than Streaming. The RIAA’s vinyl revenue number is based on gross retail sales, but the ad supported streaming revenue number it is compared to is only the net amount paid to labels.
Cracker Barrel Joins the Vinyl ‘Revolution.’ The Southern-themed retailer and roadside restaurant chain with a long track record in country, bluegrass, and faith-based CD sales has officially entered the still-booming vinyl market for the first time, with an exclusive numbered collector’s edition of country duo Joey & Rory’s Hymns That Are Important To Us.
“The Music Industry Finds Itself Fighting Over Pennies While Waving Goodbye To Dollars.” [CHART] A New York Times analysis of the statistics shared this week by the RIAA leads to a sobering conclusion: “…the big sales numbers that have sustained the recorded music business for years are way down, and it is hard to see how they could ever return to where they were even a decade ago.”
Where’s The Money? YouTube Revenues Explained. Chris Castle clears the fog surrounding how revenue from YouTube uploads is determined, as well as how the video sharing site’s content management system functions—and whether or not monetization is the best choice for you.
SoundCloud’s Next Move Will Change the Streaming Game (Again). “It’s a very organic, user-friendly experience that’s really social,” says a major-label executive who has seen a demonstration that includes the paid tier. “It’s true to the way SoundCloud works now.”
BandsInTown and Ticketmaster Debut In-App Ticket Purchases. With the likes of Pandora and Spotify thinking hard about how ticketing fits in to their businesses, startups like Dice iterating rapidly, and Songkick planning big things after its merger with CrowdSurge, it’s an encouraging time for the live market.
Grant Bussinger Claims We Need An Open Source Music Industry. Warped Records’ Head of Digital claims “There is as an opportunity to leverage the same resources and adopt the same guiding principles that have seen success everywhere else.”
Our best wishes for a great week! – MediaNet
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