The appointment of Bob Pittman as Clear Channel Outdoor CEO is not only a good move for the company but one that signals a new era in digital music.. Also, music stocks are down on a rough monday, Social Digest is a service that will email you tweets and Facebook posts, and the term "cassette tape" has been dropped from one dictionary.
Apple will “talk iPhone” with the world Tuesday at an event at the company’s Cupertino campus. The event is expected to unveil the next generation of iPhone – dubbed the iPhone 5 – and could include updates to previous incarnations of the smartphone including possibly a new tear-drop shape, cheaper 3GS prices and/or the iCloud's arrival.
Rhapsody today announced it signed an agreement to acquire Napster, a competing music subscription service owned by retail giant Best Buy. The value of the deal was not been announced, but Rhapsody will get Napter’s subscribers and “certain other assets" and Best Buy, which acquired Napster in September 2008, will get an unspecified minority stake in Rhapsody.
While most stocks were having a difficult week, Pandora Media bucked the trend and rose an astounding 10.3% Friday to finish the week up 36.3%. Also, a Spotify v. Projekt Records update; Leno and Letterman ratings were down in their premier weeks; and online locker piracy is on the rise.
Established and emerging artists descended on Nashville last week for the four-day SoundLand festival, previously called Next Big Nashville. Foster the People, Yelawolf, Big K.R.I.T., JEFF the Brotherhood, The Black Belles, Those Darlins, The Apache Relay, Jessica Lea Mayfield and Alabama Shakes performed at local and outdoor venues.
2011 has been a truly incredible year for digital music. This year’s increase in digital downloads could result in around $300 million of incremental consumer spending by the end of the year, based on Billboard estimates using Nielsen SoundScan data. Also, more and more people are using mobile devices while watching TV, Groupon gets another competitor, and Specific Media hit by layoffs.