New Music Business Briefing: WMG Stok Tumbles, YouTube Rewrites History, Universal Extends Sanctuary Bid & Much More
>>> WMG stock continued its downward slide to a 52 week low of $12.76 on Friday. Could one reason be the looming deal that would bring Madonna from the label group to an all inclusive deal with concert giant Live Nation?
>>> Beyonce fell on stage last week and videos of it flooded YouTube. SonyBMG got them all pulled, but of course they cropped up elsewhere. Is the label's cozy relationship with YouTube rewriting music history? "To much of its audience this will feel like police-state style censorship and the curious will look elsewhere," (Mulligan/Jupiter Research)
>>> Clear Channel Communications reported a slight revenue increase in 2Q. (FMQB)
>>> Planet M, the leading music store in India is adding in-store downloads as a way to fight declining sales. (Business Of Cinema)
>>> Labels are increasingly efforts to make social networking sites a place to buy music. (Billboard)
>>> Can you imagine saying, "Please put me back on hold"? The City Of LA is looking for a few unsigned local bands to play on their phone systems when they put you on hold and offering $500 as a bonus. (Daily Swarm) Considering that they'd have to pay somebody (BMI, ASCAP) for music on hold it seems like a smart and creative use of city funds.
>>> How the coming "always on" WiMax revolution could again change radio and music consumption as we know it. (Hear 2.0) We've been beating this drum for years. Don't miss out.
>>> Universal has extended its deadline from July 26th to August 2nd to complete the purchase of the distressed Sanctuary group of companies pending more shareholder approvals.
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