Pandora Inc. on Wednesday posted an improved financial quarter with higher revenue and profits, but skittish investors nevertheless pushed the Internet radio company's stock down more than 8% immediately after the report.
YouTube has paid out more than $1 billion to music rights holders over the last several years. The disclosure came during a Midem panel addressing online video during which YouTube VP of content Tom Pickett was grilled about whether ads provide sufficient revenue for artists and what the California technology company is doing about illegal "stream rippers."
Beats Music, which encountered a number of technical issues resulting from a larger-than-expected volume of sign-ups in the days following its Jan. 21 launch, said AT&T on Friday, officially kicked off its marketing to promote the music service after a week's delay.
Topspin Media confirmed it has laid off 14 employees, or about 44% of its staff. The layoff signals a strategic shift at the 7-year-old Santa Monica, Calif., company towards being a technology platform and away from hands-on artist services.