Economics

  1. Ticketmaster Shareholders Sue Company

    February 19, 2009 12:00 AM EST A group of Ticketmaster Entertainment shareholders have filled a class action lawsuit against the ticketing company, claiming its sale price to Live Nation was "grossly inadequate," according to the claim, which was filed last week in Lo ...

  2. Live Nation Seeing Healthy Ticket Sales, Stock Up

    January 08, 2009 12:00 AM EST Live Nation said on Thursday it has seen no weakness in ticket sales for 2009 despite investor concern that fewer fans will pay to see their favorite bands due to the recession. Live Nation shares rose 18 percent in late-afternoon trading. Chief E ...

  3. Country Music Shrine To Keep Historic Instruments

    December 31, 2008 12:00 AM EST The Country Music Hall of Fame and Museum will get to keep historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter pledged by a man who committed suicide after being accused of defrauding millions from investors. The settleme ...

  4. Who Will the Financial Crisis Hit Next?

    December 31, 2008 12:00 AM EST Tribune Co. recently filed for Chapter 11 bankruptcy protection and National Amusements violated a debt covenant. The moves beg the question: Who, if anyone, could be next in the broader media and entertainment industry? The global financial crisi ...

  5. Live Nation, Blockbuster Ink Ticket Deal

    December 02, 2008 12:00 AM EST Live Nation has signed a three-year deal with Blockbuster whereby the latter will be the exclusive physical retail ticket outlet for Live Nation Ticketing, Live Nation's new in-house ticketing company, beginning with the start of the 2009 con ...

  6. WMG Digital Revenue Up 39%

    November 25, 2008 12:00 AM EST Warner Music Group has issued fourth-quarter and full-year results that show strong digital revenue gains for the 12 months up to Sept. 30. Although digital revenue grew by a modest 0.6% from the previous 2008 quarter to $167 million, that represe ...

  7. Ticketmaster Entertainment Posts Q3 Revenue Increase

    November 10, 2008 12:00 AM EST Newly dubbed Ticketmaster Entertainment has reported third-quarter revenues of $339.2 million, up from revenues of $292.5 million (16%), during the same period last year. The revenue growth was primarily driven by a 2% increase in revenue per prim ...

  8. eMusic Cuts 10% Of Staff

    October 30, 2008 12:00 AM EDT The sagging economy continues to weigh heavily on the digital music space, with eMusic now laying off 10% of its workforce. The Wall Street Journal reports that the company cited the financial crisis in its decision. Danny Stein, eMusic chairman, ...

  9. Grainge Appointed To U.K. Govt Creative Industries Panel

    October 23, 2008 12:00 AM EDT Universal Music Group International chairman and CEO Lucian Grainge has been appointed to the panel of business leaders at the U.K. government's Creativity & Business International Network in Oct. 2009. The international creative business ...

  10. MCPS-PRS Reveals Physical Product Revenue Decline

    October 22, 2008 12:00 AM EDT The MCPS-PRS Alliance has released figures for the 2008 year-to-date collection of revenue that show a 9% decline in revenue from physical products. It also predicts that physical product will be only the fourth highest revenue stream by the end o ...

  11. U.K. Underage Fest Set To Go International

    October 22, 2008 12:00 AM EDT The Underage Festival, staged in London's Victoria Park in August for 14 to 18-year-olds only, is set to expand with an international presence. Investment firm Ingenious Media co-promoted the one-day Underage Festival and the Field Day festiv ...

  12. Bug Music Secures $200M Credit Line

    September 17, 2008 12:00 AM EDT Independent publisher Bug Music has secured a $200 million credit line from nine banks led by JP Morgan. The credit line can be increased to $250 million. In a statement, Bug Music CEO John Rudolph noted that the credit, priced at a London interba ...

  13. Warner/Chappell Domestic Revenue Grows

    May 08, 2008 12:00 AM EDT Warner Music Group today reported that publishing revenue at Warner/Chappell Music increased in the quarter by 8.4% from the prior-year quarter to $155 million. On a constant-currency basis, revenue was flat. In the United States, publishing reven ...

  14. Kraski Forms Tenacity Management

    February 11, 2008 12:00 AM EST Former Equity Music Group president Mike Kraski has launched Tenacity Management and Consulting. "My philosophy and goal when I started Equity was that we as a label would be partners with the artist," Kraski said in a prepared statement ...

  15. APRA, AMCOS Post Revenue Rise

    November 19, 2007 12:00 AM EST The Australasian Performing Right Society (APRA) and the Australasian Mechanical Copyright Owners' Society (AMCOS) jointly posted a combined revenue of A$189.7 million ($169 million) in the 2006/07 financial year, up 12.8% on the 2005/06 peri ...

  16. EMI Wins WIPO Domain-Name Case

    November 14, 2007 12:00 AM EST EMI Group has won a "cyber-squatting" case filed with the World Intellectual Property Organization. EMI entered a complaint with the Geneva-based patents and intellectual property authority on Aug. 14, disputing the Web site emi-musicgro ...

  17. Univision Revenues Up In Q3

    November 07, 2007 12:00 AM EST Univision Communications' net revenue increased 4.4% in the third quarter to $529.1 million, from $506.6 million in the same period last year, the company reported. Without counting the $24.7 million it brought in last year from the 2006 FIFA ...

  18. RealNetworks Reports Healthy Earnings

    October 30, 2007 12:00 AM EDT RealNetworks quarterly earnings report revealed healthy advances in the company various music service, which include Rhapsody. Overall, the company now claims more than 2.75 music service subscribers, up from 1.65 million for the same period last ...

  19. BDMI Invests In RoyaltyShare

    October 22, 2007 12:00 AM EDT Bertelsmann Digital Media Investments (BDMI) is the latest strategic investor in RoyaltyShare, which provides royalty processing solutions and other Web-based services supporting the distribution and sale of digital music. BDMI invested $3 million ...

  20. WIPO Organizes IP Conference

    October 09, 2007 12:00 AM EDT The World Intellectual Property Organization's (WIPO) is hosting an international conference on intellectual property and the creative industries Oct. 29 and 30 at its Geneva headquarters. The confab , which is open to the public, will gather ...

  21. EMI Says 93% Of 2013 Euro Bonds Tendered

    September 04, 2007 12:00 AM EDT British music group EMI Group Plc said on Tuesday that 93% of its 425 million euros ($579.1 million) of 8.625% bonds due 2013 had been tendered under a buyback offer launched on Aug. 17. EMI is buying back its outstanding bonds due to its acquisit ...

  22. Yolanda Adams To Endorse Visa Mobile Money Transfers

    August 20, 2007 12:00 AM EDT Grammy Award winner Yolanda Adams is the new face of Columbia Card Systems International’s Visa mobile debit card. In addition to appearing in a series of television, radio and print advertisements, Adams will also brand her own debit card through ...

  23. Warner/Chappell Quarterly Earnings Up

    August 08, 2007 12:00 AM EDT Although Warner Music Group yesterday reported a 2% drop in revenue in third-quarter earnings for fiscal year 2007 from the same quarter last year, numbers were generally up for its publishing division, Warner/Chappell Music. Warner/Chappell' ...

  24. Ingenious Plants Seed For Independiente's Blackbud

    June 15, 2007 12:00 AM EDT British venture capital trust firm Ingenious is backing alternative rock band Blackbud's second album to the tune of £1.1 million ($2.17 million). This is the sixth joint venture Ingenious has undertaken with the London-based Independiente la ...

  25. Euro Parliament Approves New Support For Artists

    June 07, 2007 12:00 AM EDT The European Parliament voted Thursday for new measures providing job support for singers, musicians and songwriters across Europe. At its plenary session in Brussels, the Parliament voted to introduce a special electronic social security card for ...

  26. Crossroads, Bug Sweep Up Windswept

    May 30, 2007 12:00 AM EDT Crossroads Media and Bug Music have acquired music publisher Windswept Holdings, Billboard.biz has learned. Tokyo-based Fujipacific Music and Fuji Television Network each held a 50% share in the U.S.-based Windswept Holdings. The publisher was for ...

  27. RoyaltyShare Acquires IDEA

    May 22, 2007 12:00 AM EDT RoyaltyShare has acquired Independent Digital Entertainment & Arts, which provides outsourced content management and delivery services to record labels, distributors and retailers. RoyaltyShare says it will add IDEA's outsourcing capabili ...

  28. Eagle Rock Buys Back HG Interest

    May 14, 2007 12:00 AM EDT U.K.-based Eagle Rock Group Ltd. management, aided by private equity firm Beringea and edel Music AG, has bought back the company from HG Capital, which had a 68% interest in the company since 2001. Terms of the deal were not disclosed. Eagle Rock ...

  29. The Source Files for Bankruptcy

    May 01, 2007 12:00 AM EDT Source Magazine LLC and affiliate Source Entertainment Inc. have filed for Chapter 11 bankruptcy after dishonest business practices by former management caused the hip-hop media outlet's advertisers to flee, according to court papers. The com ...

  30. Ingenious Backs U.K. Fest

    March 06, 2007 12:00 AM EST London-based media investment and advisory group Ingenious is backing its first live music event. The two music venture capital trusts (VCTs) of Ingenious will jointly-invest in the Knowsley Hall Music Festival this summer, a new Liverpool, Englan ...

  31. Ingenious Injects Investment Into The Prodigy

    February 14, 2007 12:00 AM EST The two music venture capital trusts (VCTs) of London-based Ingenious have made a joint investment of £2 million ($3.8 million) to support the release of The Prodigy's fifth album. The investment has been made through the formation of a joint ...

  32. Int'l Leaders Assemble For Piracy Meeting

    February 01, 2007 12:00 AM EST Officials from the European Commission and U.S. government met with business representatives in Geneva Thursday (Feb. 1) to develop new methods to deal with counterfeiting and piracy. The meeting was set in the context of a new wave of European an ...

  33. EMI Group Acquisition Still In Question

    December 08, 2006 12:00 AM EST EMI Group plc has declined to comment on speculation that it is close to a deal to be acquired by a private-equity group. A Dec. 8 report on The Wall Street Journal Online claims that Permira Advisers, the European private-equity company, is the b ...

  34. Univision Music Revenue Drops

    November 03, 2006 12:00 AM EST Company's television net revenue growth up 14.8%. Univision Communications, the nation's leading Spanish-language media company, reported net revenue of $536.1 million for the third quarter of 2006, an increase of 7.8% over the same peri ...

  35. Bertelsmann Launches Digital VC Fund

    October 19, 2006 12:00 AM EDT Bertelsmann has established a venture capital fund for digital media investments and created a company to execute these investments. With an initial funding of 50 million ($62.8 million), the mission Bertelsmann has established a venture capital f ...

  36. OFT Refers Academy Music Buy

    September 05, 2006 12:00 AM EDT Competition Commission has 24 weeks to probe. Britain's Office of Fair Trading has referred to the Competition Commission Hamsard's planned acquisition of U.K. venue operator Academy Music Holdings Ltd. Hamsard, the investment vehicle jo ...

  37. Tower Records Files For Bankruptcy

    August 21, 2006 12:00 AM EDT Tower Records filed a Chapter 11 petition in federal bankruptcy court yesterday (Aug. 20). The owners want the court to facilitate a prompt sale of their business "as a going concern" so that a buyer MTS Inc. and all of its subsidiaries, ...

  38. Judge Orders Bankruptcy Takeover Of Death Row

    July 10, 2006 12:00 AM EDT A federal judge on Friday (July 7) ordered a bankruptcy trustee takeover of Marion "Suge" Knight's Death Row Records, saying the record label has undergone gross mismanagement. A federal judge on Friday (July 7) ordered a bankruptcy ...

  39. Legal Matters

    June 28, 2006 12:00 AM EDT Fighting intellectual property theft is still high on the agenda of the U.S. Department of Justice. Its Task Force on Intellectual Property released its first formal progress report. Read Susan Butler Fighting intellectual property theft is still ...

  40. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  41. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  42. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  43. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  44. Ottakar's Rebuffs HMV Approach

    May 16, 2006 12:00 AM EDT HMV Group's most recent offer for book seller Ottakar's has been rejected. In a statement issued today (May 16) to the London Stock Exchange, Ottakar's claimed that HMV's renewed cash offer was at a p HMV Group's most rece ...

  45. Ottakar's Rebuffs HMV Approach

    May 16, 2006 12:00 AM EDT HMV Group's most recent offer for book seller Ottakar's has been rejected. In a statement issued today (May 16) to the London Stock Exchange, Ottakar's claimed that HMV's renewed cash offer was at a p HMV Group's most rece ...

  46. International Music Feed Appoints Exec

    May 01, 2006 12:00 AM EDT Kaino previously creative exec at Napster. Glenn Kaino has been named executive VP of creative and online for Universal Music Group's International Music Feed (IMF). Kaino reports to IMF's president Andy Schuon and will be based in Santa ...

  47. 'Suge' Knight, Death Row File For Bankruptcy

    April 04, 2006 12:00 AM EDT Debts total more than $120 million. Marion "Suge" Knight Jr. and Death Row Records filed petitions for bankruptcy today (April 4) avoiding more than $120 million in debts and the threat of a California judge ordering a court officer to t ...

  48. Warner Music Group To Pay $19.3M In Dividend

    March 14, 2006 12:00 AM EST cents a share to be issued. Warner Music Group declared a quarterly dividend of $0.13 per share of common stock, representing an aggregate quarterly dividend of approximately $19.3 million. The dividend is payable May 3, 2006. This aggregate nu ...

  49. Ingenious Launches New VC Trust To Fund New Acts

    January 18, 2006 12:00 AM EST The Heights benefit from $528,000 fund. London-based specialist media investment and advisory business Ingenious has launched its second music venture capital trust to invest in recording artists. The initiative, Ingenious Music VCT 2, is targetin ...

  50. Musicland Group Files For Chapter 11

    January 12, 2006 12:00 AM EST Chain in process of liquidating 61 Media Play stores. As expected, the Musicland Group filed for Chapter 11 protection late Thursday afternoon in the U.S. Bankruptcy Court Southern District of New York. The chain has been experiencing financial di ...

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