Economics

  1. Kobalt Releases 2013 Financial Results: Revenue, Loss Increases

    May 22, 2014 9:07 PM EDT The Kobalt Music Group managed explosive sales growth last year but the company's loss also widened as it increased investments in two new business areas: label services and neighboring rights. Related Articles Steve Miller Band Teams with Ko ...

  2. SESAC Refinances Debt to Cut Interest Payments

    April 08, 2014 9:38 PM EDT SESAC, the privately held performance rights organization, is reshuffling its debt to achieve cost savings in interest payments, according to a report from Moody's Investors Services. The refinancing will see SESAC take on $5 million more in ...

  3. Live Nation CEO Michael Rapino Sells Almost $12 Million in Stock

    August 14, 2013 5:15 PM EDT Live Nation CEO Michael Rapino recently sold 640,000 shares of his common stock holdings in the company, earning him $11.7 million, according to an Aug. 13 Securities and Exchange Commission filing. The two transactions, made on Friday and Monda ...

  4. Warner Music's Revenue, Digital Sales Up in Fiscal Fourth Quarter

    December 13, 2012 8:30 AM EST Warner Music Group on Thursday posted a rise in revenue and narrower losses for its September quarter. The company also reported a rise in both its physical and digital recorded music. "We had a very productive year," said CEO Stephen Co ...

  5. Layoffs Hit Major-Market Clear Channel Stations

    December 07, 2012 4:54 PM EST Clear Channel Media and Entertainment is going through another round of layoffs, this time with cuts taking place at many of the company's major market clusters. According to reports, the cuts have effected stations in Los Angeles, Dallas, Mi ...

  6. Business Matters: As Spotify Adds Ireland and Luxembourg, What To Expect in Emerging Markets

    November 13, 2012 7:44 PM EST Spotify has quietly launched in Ireland and Luxembourg, the company's 16th and 17th countries, giving it markets roughly the size of the state of Louisiana plus the city limits of Tucson, Arizona. What exists beyond these small markets will b ...

  7. Warner Music Inks Refinancing Deal with Lower Interest Payments, Balance Sheet Flexibility

    November 07, 2012 4:23 PM EST Warner Music Group has successfully completed a refinancing that will reduce its annual interest payments by about $43 million annually, Billboard estimates. As well as lowering interest payments, the world's third largest music company is al ...

  8. Warner Music Refinances for Lower Debt Payments

    October 17, 2012 11:42 AM EDT Warner Music Group is refinancing part of the $2.21 billion in debt that Len Blavatnik's Access Industries used to finance its acquisition in 2011, according to a regulatory filing . The world's third-largest music company kicked off a t ...

  9. Redbox Gets The Ticket

    October 15, 2012 6:18 AM EDT DVD rental specialist diversifies, bringing ticketing to where consumers spend their time and money: the local store. Redbox, with its ubiquitous DVD rental kiosks, is entering the ticketing game, beginning in Philadelphia with tickets available ...

  10. Alfonso Perez-Soto Named SVP, Business Development, Latin America, Spain and Emerging Markets at Warner

    October 05, 2012 3:37 PM EDT Warner Music Group today named Alfonso Perez-Soto its new senior vice president, business development for Latin America, Spain and emerging markets. Perez-Soto previous had worked as vice president of the content corporate unit at Telefonica. In h ...

  11. A2IM Using Federal Grant To Expand Trade Missions, Bolster Indie Music

    August 31, 2012 5:12 PM EDT A2IM went to Washington, D.C.'s U.S. Trade Information Center at the Ronald Reagan Building to pick up the award certificate for the MDCP funding. From left: Deputy Under Secretary of Commerce for Manufacturing and Services Maureen Smith, who ...

  12. White Paper Urges FTC to Block UMG-EMI Deal; EU Nat'l Regulators Slated To Vote on Merger

    August 30, 2012 8:30 PM EDT The American Antitrust Institute, a Washington-based non-profit education, research, and advocacy organization, has issued a white paper entitled "Music Industry Consolidation: The Likely Anticompetitive Effects Of The Universal/Emi Merger&qu ...

  13. Universal Music Group Reports Quarterly Revenue Gain

    August 30, 2012 9:54 AM EDT Universal Music Group today reported 88 million euros ($110.4 million) in earnings before interest, taxes, depreciation and amortization on revenues of 961 million euros ($1.2 billion) in its quarterly earnings report. That's up slightly from ...

  14. Business Matters: New Report Predicts Digital-Vs.-Physical Tipping Point That Already Happened

    August 16, 2012 6:56 PM EDT Being a day behind the news was acceptable before the rise of the Internet and the 24-hour news cycle. But there's really no excuse for being a year behind major forecasts and trends. The press has been drawn to a new report by Strategy Analy ...

  15. Warner Music Group Reports Mixed Quarterly Financials

    August 09, 2012 9:15 AM EDT UPDATED: The music major, owned by Len Blavatnik, posted lower revenue, but its loss narrowed, and digital revenue in the recorded music unit offset physical declines. Business Matters: Looking Forward to Live Nation and Warner Music Group's ...

  16. The End of German Discos? New GEMA Tariffs Ignite Nightclub Protests

    June 26, 2012 8:46 AM EDT A note on Berlin's Berghain nightclub's website against GEMA's new fees encourages supporters to sign a petition. BERLIN - More than 2,000 German discotheque owners are protesting against a new tariff structure implemented by the Ge ...

  17. R. Kelly Owes Nearly $5M In Taxes: Documents

    June 14, 2012 8:11 PM EDT R&B star R. Kelly, who last year saw his suburban Chicago mansion fall into foreclosure, now has the Internal Revenue Service at his door. The Chicago Sun-Times reports documents held by the Cook County Recorder of Deeds show the recording art ...

  18. ICM Finalizes Equity Firm Buyout, Excludes Former CEO Jeffrey Berg

    May 23, 2012 4:28 PM EDT International Creative Management has finalized its deal to buy out majority owner Rizvi Traverse Management and has formed a new partnership structure for the agency, the company said Wednesday. ICM will be renamed ICM Partners to reflect the cha ...

  19. Universal Music Group Q1 Revenue Up 9.1%, Credits Madonna, Nicki Minaj, Gotye, Van Halen Releases

    May 15, 2012 4:30 PM EDT Screen shot of Vivendi's First Quarter 2012 Results Apendix III. Universal Music Group revenues increased 9.1% to €961 million ($1.28 billion at the March 31 exchange rate) in the first quarter of 2012 (6.7% at constant currency). Earnings be ...

  20. MP3tunes.com Files for Bankruptcy

    May 11, 2012 12:44 AM EDT MP3tunes.com announced Thursday that it filed for bankruptcy in San Diego, according to multiple media reports. The company, founded by former MP3.com founder Michael Robertson in 2005, had been battered with lawsuits from EMI since 2007. "Fo ...

  21. Live Nation 1Q Loss Expands; Revenue Ticks Up

    May 09, 2012 9:55 PM EDT Concert promoter Live Nation Entertainment Inc. said Wednesday that its first-quarter net loss expanded even as revenue ticked higher, as it did not repeat an income tax windfall from a year ago. The net loss in the three months to March 31 grew t ...

  22. Amanda Palmer's Kickstarter Campaign Soars Past $500,000 -- and It's Still Going

    May 05, 2012 6:40 PM EDT Amanda Palmer's record-setting Kickstarter campaign blew past the $500,000 mark Friday evening and stood at $536,275 Saturday afternoon. The project, to raise money to promote her new album, has received more pledges and a greater value of pl ...

  23. Billboard Power 100: John Frankenheimer

    January 26, 2012 8:58 PM EST No. 75 John Frankenheimer Partner, Chairman Emeritus; Chair Loeb & Loeb, Music Industry Practice Group Deal Architect ... Clients of veteran entertainment attorney John Frankenheimer are record companies, distributors, publishers, recording ar ...

  24. Australia's APRA, AMCOS Report Record Revenues

    November 28, 2011 4:30 PM EST Australia's performing right society APRA and its sister mechanical right body AMCOS have reported a best-ever combined revenue of Australian $240 million ($233), a rise of 8%. The result for the year ending June 30, explains APRA/AMCOS CEO B ...

  25. Live Nation's Third-Quarter Revenue Down, Net Income Slightly Up

    November 03, 2011 5:15 PM EDT Concert promoter Live Nation Entertainment Inc. said Thursday that its third-quarter net income inched up 1 percent though revenue from selling concert tickets fell. The company's overall revenue fell short of analyst expectations. Don't ...

  26. Entertainment Stocks Pop Amid Stronger U.S. Economic Growth

    October 28, 2011 8:12 AM EDT NEW YORK - Big entertainment stocks saw a nice pop Thursday as U.S. stock markets rose following a European debt deal for Greece and news that the U.S. economy grew at its strongest pace in a year during the third quarter. Gross domestic product i ...

  27. Live Nation Posts Second-Quarter Profit, Beats Expectations

    August 08, 2011 5:20 PM EDT Concert promoter Live Nation Entertainment Inc. made a profit in the second quarter, reversing a loss from a year ago, as concert attendance went up in North America and people spent more money than last year on beer and parking. The results annou ...

  28. Music Stocks End Dismal Week in Negative Territory

    August 05, 2011 5:20 PM EDT U.S. stock markets posted mixed gains Friday after a miserable week. The Dow fell as much as 245 points and finished the day up 61 and posting a 0.54% gain. The technology-heavy Nasdaq dropped 0.94% and the New York Stock Exchange composite fell 1 ...

  29. Warner Music Group Plans Modest Restructuring Under Access Ownership

    July 25, 2011 9:00 AM EDT Now officially under new ownership , the Warner Music Group plans to achieve cost savings between $50-65 million over the next 27 months. The company plans to achieve those saving through "certain planned corporate restructuring initiatives,& ...

  30. Willie Robertson, Music Biz Insurance Pioneer, Remembered

    July 21, 2011 11:16 AM EDT The life of music industry insurance innovator Willie Robertson (67), who died of cancer in London on July 9, is to be celebrated at a London thanksgiving service Oct. 5 Robertson pioneered insurance for touring acts, building a former pariah sect ...

  31. Topspin's Ian Rogers Interviews Ticketmaster CEO Nathan Hubbard (Watch)

    July 20, 2011 1:37 PM EDT Topspin Media CEO is host of an online show called "This Week in Music" and the second episode is now ready for viewing. Good stuff if you can get through a 52-minute YouTube video -- although that might be difficult during the middle of ...

  32. Access Industries Completes Acquisition of Warner Music Group

    July 20, 2011 12:51 PM EDT Access Industries has completed its acquisition of the Warner Music Group ahead of plan, thanks to compliant regulatory agencies and a resilient bond market willing to absorb $1.045 billion in a new bond offering from the company and shareholders ...

  33. Borders To Liquidate Assets Upon Court Approval

    July 18, 2011 7:31 PM EDT NEW YORK (AP) - Borders Group is seeking court approval to liquidate its 399 stores after it failed to receive any bids that would keep the 40-year-old chain in operation and canceled an auction process. BORDERS FILES CHAPTER 11, TO CLOSE 200 STOR ...

  34. France's SACEM Revenues Up 7.5% Last Year

    July 13, 2011 2:36 PM EDT Sacem, the French authors and publishers collection society, has just announced 7.5% growth in 2010 to €819.6 million (about $1.16 billion), the agency's first growth that's exceeded inflation in five years, according to Sacem report. In ...

  35. Global Ad Spending to Rise 4.1% This Year, Return to Pre-Recession Peak

    July 13, 2011 7:01 AM EDT NEW YORK - Global advertising expenditures will return to pre-recession peak levels this year, but the U.S. will take several years to return to its peak performance, media planning and buying firm ZenithOptimedia predicted Tuesday. "While th ...

  36. Turntable.fm Co-founder Denies Funding Report

    July 08, 2011 11:26 AM EDT Turntable.fm may or may not have closed a round of funding, but the startup is definitely hot enough to have the rumor mill in overdrive. Co-founder Seth Goldstein has denied the Business Insider report that the company has raised $7.5 million in ...

  37. Warner Music Group Shareholders Approve Sale

    July 06, 2011 10:43 AM EDT Warner Music Group shareholders approved the $3.3 billion sale to Len Blavatnik's Access Industries at a special meeting of stockholders on Wednesday. Shareholders will receive $8.25 per share in cash at the closing of the transaction, which ...

  38. Business Matters: Research in Motion (RIM) Falters, Android and iOS Safer Than Ever

    June 17, 2011 5:02 PM EDT Business Matters: Research in Motion Falters, Android and iOS Safer Than Ever -- Apple and Google's dominant mobile and tablet market shares probably won't be jeopardized any time soon. Just a couple weeks after Research in Motion (RIM) ...

  39. PriceWaterhouse Predicts Rebound in Entertainment, Media Spending, But Not Music

    June 14, 2011 6:27 AM EDT NEW YORK -- The five-year growth outlook for the entertainment and media industry is better this year than last amid economic improvements, a rebound in advertising and continued technological change, including the wider availability of tablet com ...

  40. Insurer Seeks to Void Policy for Michael Jackson Shows

    June 06, 2011 8:50 PM EDT The insurer of Michael Jackson's canceled comeback concerts has asked a judge to nullify a policy intended to protect concert promoters if the singer wasn't able to complete the shows. Lloyd's of London sued AEG Live and Jackson ...

  41. Google to Unveil Mobile Payments Thursday: Source

    May 25, 2011 7:35 AM EDT Google Inc will take the wraps off a mobile payment system on Thursday that lets consumers pay at checkout with phones instead of cards, a source said, hoping to beat Visa and others to the punch. The Internet search and advertising leader will wo ...

  42. Access Reveals Its Warner Music Acquisition Financing Plan in Proxy Statement

    May 23, 2011 4:57 PM EDT Access Industries plans to finance its planned $3.3 billion acquisition of the Warner Music Group by putting up $1.118 billion in equity, obtaining $1.045 billion in bridge loans from Credit Suisse AG and UBS Loan Finance. It will ask the senior s ...

  43. Is Flat the New Up? Universal Music Group Revenue 'Grew' in First Quarter of 2011

    May 16, 2011 11:54 AM EDT With flat being the new up, Universal Music Group's first quarter revenue is somewhat of a success story. Revenue for the world's largest music company was down 0.9% to €881 million (US $1.15 billion) compared to the prior-year quarter. ...

  44. Business Matters: Why Live Nation's Q1 Revenue Really Grew 6%, Not 17%

    May 06, 2011 6:40 PM EDT Why Live Nation's Q1 Revenue Really Grew 6%, not 17% -- Live Nation had a decent first quarter of 2011. Concert attendance was flat and ticket sales were up 11%. But revenue growth wasn't really as good as you might have read in various ...

  45. U.K.'s Recorded Music Wallet Share Dropping: Report

    April 19, 2011 2:40 PM EDT Music has commanded a lower amount of U.K. consumers' spending over the last 14 years, according to a report by PRS for Music Chief Economist Will Page. In 1997, both live and recorded music spending represented 0.38% of consumers' total ...

  46. Business Matters: TicketBiscuit Acquires Dais Limited

    April 15, 2011 7:57 PM EDT TicketBiscuit Acquires Dais Limited -- TicketBiscuit added more heat to an already hot ticketing market by acquiring Portland, Ore.-based Dais Limited , the company announced on Friday. Dais founder Jason Mastrine will become TicketBiscuit's ...

  47. Big Entertainment Stocks Post First-Quarter Gains

    April 01, 2011 7:35 AM EDT The opening quarter of 2011 saw the shares of a range of entertainment conglomerates hit new multiyear highs as double-digit gains for all sector biggies except Sony Corp. outpaced the broad-based S&P 500 stock index. The gains, led again by C ...

  48. Country Radio Seminar 'Show Me The Money' Panel Paints Tough Financial Picture For New Artists

    March 03, 2011 10:09 AM EST If anyone attending the Country Radio Seminar still doubted the troubles facing the recording business, a presentation of case-study profit-and-loss statements by artist and label representatives cemented the position March 2 during "Show Me ...

  49. Universal Music Posts 10% Revenue Gain, Matches 2008 Revenue in Q4

    March 02, 2011 11:54 AM EST A strong end to 2010 gave Universal Music Group a 9.9% increase in revenue in the fourth quarter, according to financial details released by parent company Vivendi . It was the third straight year-over-year increase in quarterly revenue. Full-year ...

  50. Live Nation Acquires Remaining Equity in Front Line, Azoff Named Chairman

    February 07, 2011 8:43 AM EST Live Nation Entertainment acquired substantially all of the remaining equity stake in Front Line Management Group, Inc. that it did not previously own for total consideration of $116.2 million in cash and stock, the company announced today. Additi ...

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