Posted by Glen Sears | October 19, 2015 10:39 am | No Comments
Story of the Week
Spotify U.K. Subscription Revenues Climb as Overall Profits Fall
The U.K. arm of Spotify experienced strong growth in its subscription and advertising revenues last year, but still posted a £1.2 million ($1.5 million) loss after taxation, according to the company’s latest set of financial results, which cover the year 2014.
The rise in sales was not enough, however, to prevent the London-based company reporting an overall loss for the year after taxation of £1.2 million ($1.5 million) — a significant slide when compared to the previous calendar year when Spotify recorded a profit of £2.6 million ($4 million).
The loss can be partially attributed to a sizeable rise in cost of sales — a category that includes royalties paid to labels and publishers — which jumped from £96.2 million ($148 million) in 2013 to £124.4 million ($191.7 million) last year. “Individual company reports are not necessarily a reflection of the whole company, one way or the other,” a Spotify spokesperson maintained in a statement provided to Billboard.
Read more on Billboard: http://bit.ly/1GeFiF5
Condé Nast Buys Pitchfork – Confirming the buy, which includes all Pitchfork ventures, so the spin-off live events too, Condé Nast’s newly appointed big cheese Bob Sauerberg told reporters: “Pitchfork is a distinguished digital property that brings a strong editorial voice, an enthusiastic and young audience, a growing video platform and a thriving events business. We look forward to bringing Pitchfork to the network of best-in-class brands of Condé Nast”. Read More
Deezer Looks to Raise $344 Million in Paris IPO – “We are really just at the beginning of the streaming market service,” said Hans-Holger in a statement. “There is still a lot of room for the company to grow.” Trading of Deezer shares is set to begin Oct. 30. Read More
SFXE Stock Closes Up $12.5% As CEO Sillerman Offers To Buy All Stock At 3X Current Value – Under the proposed agreement, stockholders would receive $2.25 in cash per share now, plus another $1.00 a share after the company is sold. If the EDM conglomerate isn’t sold within 5 years, stockholders would get 10% of the appraised equity value of the company. Read More
Jay Z’s ‘Big Pimpin’ Trial Stirs International Copyright Law Debate – The question is whether Jay Z and Timbaland could edit “Khosara Khosara” into the iconic intro of “Big Pimpin’” with respect to “moral rights,” a concept in copyright law uncommon (though not nonexistent) in the United States but more prevalent internationally. Read More
Warner/Chappell Is Now Fighting to Keep “Happy Birthday” Out of Public Domain – In court filings dated October 15th, Warner declared that U.S. District Judge for the Central District of California George H. King had “clearly erred” in his judgment of a supposed copyright transfer in the 1935, specifically relating to the lyrics of the song. Read More
Spotify’s Biggest Song Has 500 Million Plays, YouTube’s 10th Biggest Song Has One Billion Plays – Sheeran’s song ‘Thinking Out Loud’ may have hit 500 million streams on Spotify, but the song hit over 750 million views on YouTube, which is of course a huge amount more. But, not quite enough to enter YouTube’s elite Billion Views Club, which consists of the top 10 videos on YouTube, all of are music videos and all of which have at least one billion views. Read More
New Study Shows 66% Of U.S. Streams Music, Amazon #1 Paid Music Service – Streaming music is growing even faster than we thought, according to a new U.S. study, and Amazon is the #1 choice for those who pay for streaming. That Amazon’s music costs are bundled with shipping and other services could provide a hint as to how music streamers can gain more paid subscribers. Read More
SoundCloud Has 99 Problems, But Falling Traffic Isn’t One of Them – Despite impending lawsuits and user fatigue, a quick look at SoundCloud’s traffic shows that volumes have roughly doubled in the past year alone. Closer to the present, its Alexa rankings continue to improve, with a summer surge that is showing no signs of abating. Read More
Grooveshark.com Is Now a Discount Concert Ticketing Site – According to ICANN registration records, Universal Music Group still owns the grooveshark.com domain, suggesting either a domain name sub-lease or outright sale is happening. Read More
MUZU Reportedly Heading Into Liquidation – Dublin-based music video platform MUZU is seemingly heading into liquidation, according to MBW, which says that creditors have been invited to a meeting in Dublin later this month, with Outlook Accountants appointed as liquidator. Read More
Steven Tyler Writes Copyright Essay After Donald Trump Song Drama – Steven Tyler went head-to-head with Donald Trump last week over the presidential candidate playing Aerosmith’s “Dream On” at his campaign events, and now the frontman has put his concerns into writing — and his issues with Trump might not be exactly what you’re expecting. Read More
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