Business

  1. Pandora Media Stock Slides 13 Percent

    August 23, 2013 6:30 PM EDT Shares of Pandora Media tanked 13 percent Friday, a day after the digital-music company reported its quarterly earnings but disappointing guidance. Pandora on Thursday reported earning 4 cents a share in the most recent quarter, twice what analy ...

  2. Dan Kruchkow Promoted to CMO and Head of Digital Strategy at Crush Management

    July 25, 2013 12:26 PM EDT Crush Management announced in a statement today (Jul. 25) that longtime Head of Digital, Dan Kruchkow has been promoted to CMO of the company and will take on the new position in addition to keeping up with his duties as Head of Digital Strategy ...

  3. Google Stumbles in 2Q as Slump in Ad Rates Deepens

    July 18, 2013 5:48 PM EDT Google views the computing shift to smartphones and tablets as a golden opportunity, but the Internet search leader's second-quarter performance served as an unsettling reminder that it poses a nagging financial challenge, too. The report r ...

  4. Trans World Ent. To Hold 'Modified Dutch Auction'

    June 27, 2013 6:40 PM EDT Trans World Entertainment's board of directors has authorized the company to hold a "modified Dutch auction" tender offer for up to $25 million in value of its common stock. In the offer, which sets a minimum of $4.50 and a maxim ...

  5. Live Nation's Banner Year Brings Azoff-Emanuel Feud To Light

    June 27, 2013 1:00 PM EDT A report in last week's  Financial Times recounting Live Nation’s banner year has inadvertently brought to light a simmering feud between the company’s former CEO Irving Azoff and current board member Ari Emanuel.   The FT story detailed Li ...

  6. Rdio Expands to Malaysia, Hong Kong and 5 Other Countries

    June 13, 2013 1:44 PM EDT On-demand music service Rdio has expanded to Asia for the first time in an expansion that covers seven countries. In addition to Malaysia and Hong Kong, Rdio is also available in Colombia, Chile, Poland, Czech Republic and Switzerland.   The ex ...

  7. NMPA: David Israelite, RIAA's Cary Sherman Work to Mend Fences Between Publishers, Labels

    June 13, 2013 11:39 AM EDT At the National Music Publishers' Association annual meeting yesterday at the Marriott Marquis in New York City, NMPA president David Israelite pointed out that the music industry has moved beyond the period of copyright theft and denial of ...

  8. Cristina Schwarz To Head Univision Cable Networks

    June 13, 2013 9:00 AM EDT Cristina Schwarz has been appointed VP of Univision Cable Networks, effective immediately. In her role, Schwarz will develop and implement the strategy for Univision’s nine cable channels, which include Galavisión and tlnovelas as well as music ...

  9. France's Q1 Digital Music Sales Drop as Criticism of HADOPI Mounts

    June 07, 2013 2:00 PM EDT In the first quarter of 2013, French digital music sales fell 5.2% to €30.9 million (about $40.9 million) according to SNEP , the French recording trade group. Digital sales made up 29% of the country's music market, which during the same p ...

  10. Omnifone Adds 1.2 Million Subscribers In 6 Months

    June 07, 2013 12:52 PM EDT Omnifone has added 1.2 million subscribers to its cloud-based music services in the last six months. The London-based company, which also has a U.S. office in the Los Angeles area, provides licensing and backend services for a variety of digital ...

  11. Google's Vice President of Content, Jamie Rosenberg, Talks All Access: Q&A

    May 15, 2013 5:48 PM EDT Google, which on Wednesday unveiled its All Access music streaming service as part of its I/O conference for developers, continues to expand its music offerings, in spite of heavy competition. The service, initially available only in the U.S., o ...

  12. Apple, Universal Music Group Reach Agreement for iRadio Service: Report

    May 09, 2013 10:14 PM EDT Universal Music Group has agreed to license its songs to Apple Inc.'s proposed iRadio streaming service, according to the Financial Times.  With the largest record company in the bag, the Cupertino, California, hardware company now only nee ...

  13. YouTube Subscription's Split with Content Creators Likely to be Less than 30%

    May 06, 2013 3:51 PM EDT Content creators will likely receive less than 30% of any subscription dollars flowing to YouTube via a subscription plan that the Silicon Valley company will launch in the coming weeks, according to an executive familiar with the product. YouTu ...

  14. Mobile Drives Facebook's First Quarter

    May 01, 2013 5:42 PM EDT Facebook is fast making inroads into mobile devices, with 75% of its users firing up its application on smart phones or tablets in the first quarter this year.  Those mobile viewers are translating to rapidly growing pool of advertising dollars ...

  15. iTunes 10-Year Anniversary: 12 Best iTunes Ads

    April 26, 2013 2:37 PM EDT The iTunes Store launched on April 28, 2003, as an industry-supported alternative to combatting online music piracy, starting a revolution for companies and customers alike. Their first customers received a free download of The Fray's " ...

  16. iTunes Market Share Still Dominant After a Decade (Research)

    April 16, 2013 7:00 AM EDT After nearly a decade since selling its first digital song, Apple Inc.'s iTunes continues to dominate with a 63% unit share of the U.S. market for digital music downloads in the fourth quarter, according to estimates released Tuesday by t ...

  17. Business Matters: Lack of Hits Not Behind 2013's Track Sales Decline

    April 05, 2013 3:14 PM EDT US digital track sales were down 1% in the first quarter, but a lack of hits wasn't the problem. Current tracks were up 3% and the top 10 tracks were also up 3% while catalog tracks were down 4% through March 31st, according to Nielsen Soun ...

  18. Twitter App to Integrate Vevo: Report

    March 29, 2013 11:57 PM EDT 0 false 18 pt 18 pt 0 0 false false false Twitter, which is reportedly building a music application, has a deal to integrate Vevo videos into the application, according to Peter Kafka at AllThingsD . The micro-blogging site dubbed is working on ...

  19. AEG Will Not Be Sold After All, Tim Leiweke Leaving Company

    March 14, 2013 12:41 PM EDT Anschutz Entertainment Group owner Phillip Anschutz has taken the company off of the market and president/CEO Tim Leiweke will leave the company, according to a statement released today. Leiweke will be replaced in his roles by CFO Dan Beckerman ...

  20. Pandora Revenue Doubled Last Year; Shares Up Nearly 20%

    March 07, 2013 6:28 PM EST Pandora got a lift from rising mobile revenue as its revenue more than doubled in the fiscal year ended January 31st. Revenue increased 56% to $427.1 million while mobile revenue rose 105% to $255.9 million. Net loss deepened to $38.1 million fr ...

  21. Primary Wave Hires Chris Maltese as Management Partner

    February 27, 2013 12:14 PM EST Primary Wave, the music management, marketing and publishing company founded by Lawrence Mestel which serves as the home of CeeLo Green, has named Chris Maltese as its newest hire. Maltese will join the company as a management partner with a focus ...

  22. Mike Harris, Veteran EMI Exec, Named EVP and General Manager of Caroline

    February 21, 2013 11:51 AM EST Mike Harris, an executive with and within EMI, most recently CFO at Blue Note, has been named executive vice president and general manager of Capitol Music Group's independent services division Caroline. Harris will be working closely with Ca ...

  23. David Saslow Named GM of Atlantic Records

    February 20, 2013 11:49 AM EST David Saslow, Atlantic Records' SVP of video content, production and promotion since 2007, has been bumped up to the position of general manager of the label, Billboard.biz has learned. In an email to Atlantic employees, Julie Greenwald (ch ...

  24. Sony Music, BandMerch Ink Retail Partnership

    February 20, 2013 10:40 AM EST Sony Music Entertainment has entered into a strategic partnership agreement with BandMerch, the merchandising division of promoter AEG Live, to expand and develop Sony’s merchandising programs in the North American retail market in conjunction wi ...

  25. Jon Vanhala Leaves Universal Republic/ Island Def Jam

    February 19, 2013 3:18 PM EST Jon Vanhala, head of digital and new business for Island Def Jam Group and Universal Republic Records, left the company Friday. In an email to colleagues, the digital music veteran was vague in announcing the move, but expressed optimism for hi ...

  26. Parlophone Purchase: What It Means For Warner Music and Universal

    February 07, 2013 2:20 PM EST In an unexpected and strong move, the Warner Music Group has won the auction for the Parlophone Label Group assets with a £487 million ($762 million) bid. The deal is expected to close mid-2013. The deal will give the Warner Music Group, the sma ...

  27. Postal Service Shipping-Rate Hike Forces Indie Labels to Change Tactics

    February 05, 2013 7:05 AM EST When he started The End Records in the sepia-toned days of 1998, Andreas Katsambas would often ship albums to fans free of charge. He says shipping rates were so low at the time that he didn’t bother to pass the fee on to consumers. “When I start ...

  28. Universal Signs New Agreement With Republic's Monte and Avery Lipman

    February 04, 2013 11:19 AM EST Universal Music Group has signed new long-term agreements with Republic Records founders Monte Lipman and Avery Lipman as they become Chairman & Chief Executive Officer and President & Chief Operating Officer, respectively, of the company ...

  29. NARM Names Muve Music's Jeff Toig, Dimple Records' Dilyn Radakovitz to Board

    January 20, 2013 2:18 PM EST Muve Music senior VP Jeff Toig and Dimple Records founder and owner Dilyn Radakovitz have joined the board of directors of both NARM, the music business trade association, and digitalmusic.org, its digital initiatives arm. "Muve Music is one ...

  30. Sony Corp. of America Sells New York HQ for $1.1 Billion

    January 20, 2013 1:49 PM EST In a move to bolster its balance sheet and cash position, Sony Corp. of America has agreed to sell its 550 Madison headquarters building in New York City for $1.1 billion to a consortium of investors led by the Chetrit Group. Sony companies, inclu ...

  31. IMPALA, Indies Ask EC to Investigate Sony-BMG's Parlophone Bid

    January 11, 2013 7:17 PM EST Independent music companies have raised concerns about a plan by Sony Corp. and Bertelsmann music venture BMG to bid for former EMI label Parlophone, arguing an acquisition would give the music giants, particularly Sony, too much market power. Viv ...

  32. Spotify and Rdio Expected to Launch in Japan in Coming Months (Report)

    January 11, 2013 2:08 PM EST Spotify and Rdio are expected to launch in Japan in the next few months, according to a report at Japanese music trade McClure Music.   "Rdio and Spotify will have a positive impact on the Japanese market because they're a great form of ...

  33. Irving Azoff's Resignation Comes With Tax Benefits, Non-Compete Carve-Outs

    December 31, 2012 10:54 PM EST The paths of the Bush tax cuts and the man who topped Billboard's Power 100 crossed on December 31, 2012: Irving Azoff's resignation from Live Nation gave him cash, stock, the right to manage certain artists such as the Eagles and engage ...

  34. Irving Azoff's Exit: The Invisible Hand of John Malone

    December 31, 2012 9:57 PM EST The exit of veteran music manager Irving Azoff as executive chairman at Live Nation comes two months after another media veteran, Mel Karmazin, stepped down as chairman and CEO of SiriusXM Satellite Radio. The person they have in common? Veteran m ...

  35. Irving Azoff on Leaving Live Nation, What's Next, and Why He Regrets Ticketmaster Merger

    December 31, 2012 8:15 PM EST Just hours after Irving Azoff's departure from Live Nation was confirmed, Billboard's Ray Waddell caught up with him over the phone from Mexico, where Azoff's family is vacationing with Don Henley's family. In this conversation ...

  36. Irving Azoff Steps Down from Live Nation

    December 31, 2012 4:08 PM EST Irving Azoff, chairman of Live Nation Entertainment and no. 1 on Billboard's Power 100 list earlier this year, will leave the company effective immediately, Billboard.biz has confirmed. In conjunction with the change, Liberty Media Corporatio ...

  37. Morning Fix: Backstage at 'New Year Rockin' Eve;' Instagram's TOS Fallout; Gift Card Music Sales; Kimye Spawn

    December 31, 2012 8:27 AM EST Subscribe to Billboard's free Morning Fix email and our other music-business newsletters here. 'DICK CLARK'S NEW YEAR'S ROCKIN' EVE': A SPECIAL BACKSTAGE PREVIEW WITH PRODUCER LARRY KLEIN: Since it began 41 years ago, ...

  38. Live Nation Extends CEO Michael Rapino's Contract, Raises Salary

    December 28, 2012 4:35 PM EST Live Nation has amended its employment contract with CEO Michael Rapino, extending its term through December 31, 2017 (from May 31, 2014) and raising Rapino's base salary to $2.3 million, effective January 1, 2013. The amendments were made Th ...

  39. Warner Music's Cameron Strang Gets Pay Raise to $2.25 Million; Lyor Cohen Highest-Paid WMG Employee in 2012

    December 28, 2012 3:32 PM EST Warner Music Group announced in an SEC filing Friday that Cameron Strang, Chairman and CEO of Warner/Chappell Music, and Brian Roberts, Chief Financial Officer, have signed new employment agreements with the company. Billboard Power 100: Cameron S ...

  40. Non-Apocalypse Spurs Sales (Up 612%), Airplay Gains For R.E.M.'s 'End Of The World'

    December 28, 2012 1:53 PM EST UPDATED Dec. 28 While the stroke of midnight last Saturday disproved the Mayans' doomsday prediction for Dec. 21, consumers and radio nevertheless had fun with the prophecy, as the dire forecast's signature song, R.E.M.'s "It&# ...

  41. Morning Fix: Holiday Music Sales Drop; MP3 Player Sales Dwindle; Fiscal Cliff Nears; Britney Spears Exiting 'X Factor'?

    December 28, 2012 8:45 AM EST Head HERE to subscribe to Billboard's Morning Fix email and our other free music-business newsletters HOLIDAY BLUES: MUSIC SALES DOWN 10%: In the absence of a steady-selling blockbuster title like Adele 's "21" or Michael Buble ...

  42. Business Matters: MP3 Player Sales Are Dwindling -- And That's a Good Thing for the Music Business

    December 27, 2012 12:53 PM EST Falling sales of MP3 players, impacted by feature-filled smartphones, could turn out to be one of the music industry's biggest opportunities in years. It should come as no surprise that market research company Mintel announced this week that ...

  43. Universal-Led Suppliers Liable for Up to $242 Million If HMV Folds: Report

    December 27, 2012 10:51 AM EST British music and DVD retailer HMV, which has said it faces a liquidity crunch early in the new year, has seen $65 million in benefits from financial support from product suppliers, led by Universal Music, the Daily Telegraph reported Thursday. Mu ...

  44. Business Matters: What Mattered -- and Didn't -- in Digital Music Startup Funding in 2012

    December 26, 2012 4:52 PM EST Was 2012 a good year for music startup fundraising? It probably depends on your definition of a music startup and how many companies you'd like to raise the millions of dollars required to operate a licensed, on-demand music service. But make ...

  45. Morning Fix: SoundExchange Financials; 2013 Grammy Voter Guide; Xmas Sales; Lady Gaga Doc

    December 26, 2012 8:30 AM EST Subscribe to Billboard's free Morning Fix email and other newsletters HERE. EXCLUSIVE: SOUNDEXCHANGE FINANCIALS: HOW MUCH PAID VS. HOW MUCH IN LIMBO? SoundExchange had a $363 million cash balance on Dec. 31, 2011 on its Form 990, the annual r ...

  46. BMG Acquires Mute Records Catalog

    December 21, 2012 6:15 PM EST In its second deal of the day, BMG Rights Management has acquired the Mute back catalog owned by EMI, which includes records released by artists like Depeche Mode, Erasure, Moby, Goldfrapp and Nick Cave. According to sources, BMG paid over 7 milli ...

  47. Rizvi Traverse On Verge of Acquiring SESAC

    December 21, 2012 11:15 AM EST Rizvi Traverse, a private equity firm, appears to be on the verge of acquiring SESAC, according to a filing with the SEC. On Dec. 11, Rizvi Traverse's Rizvi Opportunistic Equity Fund II, L.P. filed for an early termination notice from a Hart- ...

  48. Exclusive: Gee Roberson Forms New Label, Blueprint, Through Interscope Geffen A&M

    December 21, 2012 8:41 AM EST Geffen Records chairman Gee Roberson will transition to create and own a full service record company called Blueprint to be distributed by Interscope Geffen A&M, it was announced today by Interscope Geffen A&M chairman/CEO Jimmy Iovine and ...

  49. BMG Beats Warner/Chappell to 'New Wave'-Heavy EMI Publishing Divestitures for $90 Million

    December 20, 2012 5:46 PM EST BMG successfully outbid Warner/Chappell to win control of nearly 30,000 songs divested by EMI, including popular UK '80s hits from acts like Tears for Fears and Culture Club. The catalogs -- which were sold for around $90 million, according t ...

  50. Exclusive: Rob Wiesenthal Out at Sony/ATV, Heading to Warner Music

    December 20, 2012 10:38 AM EST Rob Wiesenthal, President of Sony/ATV's international business, is leaving the world's no.1 music publisher to join Len Blavatnik's Warner Music Group as chief operating officer/corporate, WMG said on Thursday. Wiesenthal, a Sony Co ...

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