Spotify's previously reported new funding round is valuing the streaming service at a neat $8.4 billion, according to sources cited by the Wall Street Journal.
Following reports that the Spotify company could be seeking to raise another half billion from investors in a move that is likely to put off the widely expected IPO by at least another year, the Journal says that the new monies being paid into the streaming firm's coffers are likely to be closer to $400 million. But that's still...
Posted on: 15/04/2015Categories: News from CMU Online
Fresh on the back of the big Tidal relaunch, CMU Business Editor Chris Cooke considers what an exclusives-driven streaming sector might look like in the latest CMU Trends Report.
With the all-new Tidal promising content exclusives a plenty, and Apple expected to likewise distinguish its new Beats/iTunes streaming service with exclusive albums and tracks when it launches later this year, Cooke notes the problems with artists doing exclusivity deals with a streaming platform. "Exclusives...
Posted on: 15/04/2015Categories: News from CMU Online
After much industry speculation, former AEG Live CEO Randy Phillips has joined UK-based Global Entertainment as CEO and opened the company's first US office, in Los Angeles.
Global Group, the UK's largest commercial radio company owns stations such as Capital, Classic FM, Heart and Smooth, along with television interests.
Posted on: 15/04/2015Categories: News from Audience Magazine
Live Nation Entertainment (LNE) has reported a loss of $186.5 million in the fourth quarter (Q4) of 2014, more than double the $82m loss for the same period in 2013.
Although full year revenues were up six per cent overall, the company still reported a $90.8m loss, also more than double that of 2013's $43m.
Posted on: 15/04/2015Categories: News from Audience Magazine
Pan-Europe ticketing giant CTS Eventim's dominant position in the market and its business practices are being investigated by the country's antitrust regulator.
CTS has received a request for information from Bundeskartellamt (Federal Cartel Office) following the announcement of its recent joint venture with Netherlands-based Stage Entertainment.
Posted on: 15/04/2015Categories: News from Audience Magazine
Anti-ticket abuse campaigners including artiste managers, agents and politicians are celebrating what they describe as stage one in the battle to curb industrial-scale and insider ticket touting.
After weeks of behind-the-scenes negotiations, the Coalition Government effected a U-turn and agreed to back an amendment to the Consumer Rights Bill, having voted against it in January.
Posted on: 15/04/2015Categories: News from Audience Magazine
SFX Entertainment founder and CEO Robert FX Sillerman has proposed to the company's board of directors that he be allowed to buy up all the common stock currently not owned by him, at $4.75 per share in cash.
It would cost him $430.2 million to acquire the outstanding 90.57m shares at the price he's offering.
Posted on: 15/04/2015Categories: News from Audience Magazine
The chairman and CEO of Deutsche Entertainment AG (DEAG), Peter Schwenkow, says he is delighted a court case ha restored a business partner's integrity, by proving that statements the associate made years ago were true.
The Higher Regional Court of Zweibrucken rejected an appeal by Fiba Veranstaltungsservice, owned and run by Andrea and Uwe Fischer, against a judgement in 2013 that they should pay retained ticket sales revenue of €371,000 ($415,400) originally due to Hermjo Klein...
Posted on: 15/04/2015Categories: News from Audience Magazine
Clocking up a landmark quarter of a century of business in the industry, lighting, rigging and visuals rental company Fineline celebrates its 25th glorious year in 2015, with a schedule that is already action packed with a wide range of work from music tours and festivals to corporate events.
Posted on: 15/04/2015Categories: News from TPi Magazine
At NAB in Las Vegas, audio specialist Sennheiser introduced its AVX wireless microphone systems for video cameras that ensure totally stress-free audio capture. The amazingly compact AVX receiver plugs directly into the XLR of a camera, where it automatically pairs with the microphone and switches on when the camera does.
Posted on: 15/04/2015Categories: News from TPi Magazine