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The Concord Music Group is being acquired by Wood Creek Capital Management, a private equity firm based in New Haven, Conn., in a deal expected to close in a few days. While terms of the deal aren't being disclosed, sources say wood creek is paying Concord's parent Village Roadshow Entertainment Group about $115 million-$125 million.
Nearly two years after launching in the U.S. primarily via word-of-mouth, Spotify will air its first in a series of U.S. TV ad commercials on NBC’s “The Voice” Monday night as part of a larger branding campaign valued at over $10 million in media spend.
The MTV Video Music Awards are Brooklyn bound. For the 30th anniversary of the cable network's music awards show, the VMAs will be held at Barclays Center on Aug. 25. It will be the first major awards show televised from Brooklyn.
Spotify wants to create a video streaming service and is seeking a partner to help fund and create original programming, according to a report Monday. A lot of things are printed about Spotify. Some of them are pretty odd, frankly. This one isn't all that far-fetched.
Buzzmedia -- the online publisher which owns or co-owns such websites as Stereogum, Hype Machine, Brooklyn Vegan, Celebuzz, Idolator, XLR8R, and dozens of others -- rebranded itself SpinMedia this morning, taking its name from Spin Magazine, which they acquired last year.
YOUTUBE 'GLITCH' REMOVED K-POP VIDEOS DISTRIBUTED BY UMG
YouTube accidentally took down dozens of K-Pop music videos distributed by Universal Music Group Saturday evening, triggering fan outrage and online flash campaigns to restore the flicks. Within hours of being unavailable, fans took to Tumblr, Twitter and Facebook on Sunday to protest, rallying under a GIVEUSKPOP hashtag. More than 1,000 people even signed a petition to lobby UMG and YouTube to restore the videos.
DIONNE WARWICK FILES FOR BANKRUPTCY
The Grammy-winning singer reportedly owed more than $1 million and blames a former business manager for mismanaging her affairs.
The live music industry continues to grow in Canada on an annual basis, according to data collected and analyzed by the Society of Composers, Authors and Music Publishers of Canada (SOCAN).
The National Association of Recording Merchandisers has announced its first-ever Music Industry Metadata Summit, which will be held during Music Biz 2013 on May 6-7 in Los Angeles.
SHORE FIRE MEDIA TO OPEN NASHVILLE OFFICE
Shore Fire Media, the Brooklyn-based PR firm that counts Bruce Springsteen, David Bowie,Elvis Costello, Bon Iver and Macklemore & Ryan Lewis, among its clients, is opening an office in Nashville. The company announced that Jacquelyn Marushka, a 14-year veteran of Sony Music Entertainment’s Provident Label Group, will head up the Nashville location as general manager.
Deke Richards, leader of Motown’s famed songwriting/production team the Corporation (Jackson 5, Diana Ross), died on March 24 following a battle with esophageal cancer. He was 68.
HULU IN TALKS WITH POTENTIAL BUYERS
Online video site Hulu LLC has had discussions with several potential buyers, including financial services firm Guggenheim Partners [Billboard’s parent company], one of several options the company is considering as it tries to resolve uncertainty about its strategic direction, people familiar with the matter said News Corp and Walt Disney Co. which each own about one-third of Hulu, haven't made a firm decision to sell to an outside player. Another option they are considering is for one to buy out the other's equity stake, sources say.
Wall Street Journal
An idea initially envisioned as the "Digital Copyright Exchange" in U.K. professor Ian Hargreaves' 2011 report on copyright reform, before becoming the Copyright Hub in a report released last year, is now becoming a reality. Dubbed the Copyright Hub, it is one of the first, and the most high-profile, major steps the U.K. has taken towards modernizing and streamlining its countries' management of copyright in the digital age.
SPOTIFY INKS INTEGRATION DEAL WITH LG FOR MEDIA PLAYERS AND OTHER SMART DEVICES
No, Spotify has not just officially announced a reported move into video services, but the music streaming startup is continuing to put itself into the same places where video is. Today, Spotify announced with LG that it would be integrating its premium, paid service on to a range of connected media devices from the consumer electronics giant. Devices will include Blu-ray home cinema systems, speakers and more, and they will start getting sold in April. As with previous smart device deals the LG deal is geared towards driving more usage of Spotify’s premium service.
Looking to integrate television and digital production with advertisers to create multiplatform branded entertainment, Hollywood investor Ron Burkle has teamed with publishing veteran Richard Beckman (former CEO of Prometheus, Billboard and THR publisher) to form Three Lions Entertainment. Joel Katz, a well-known entertainment lawyer at Greenberg Traurig, is a minority partner in Three Lions and will serve as a board member and adviser . “Most television producers get a license fee from a network, and their profitability is basically made from the difference between what it costs to produce a show and the license fee," Katz said. "This is different in that you produce the show and get a time slot, and you might even get a cash contribution from the network, but then you deal directly with advertisers to package the show and the talent as a totally integrated process. There is no one doing that right now.”
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