the Financial Times

  1. Spotify Obtains $200 Million Credit Line In Advance of Possible IPO (Report)

    March 10, 2014 12:46 AM EDT Spotify, one of the world's largest music music subscription services, has obtained a $200 million credit facility from lenders which may indicate an initial public stock offering is in the works, according to a report in the Financial Time ...

  2. 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 ...

  3. Jason Flom, John Rudolph to Bid for Universal's EMI Assets: Source

    November 15, 2012 4:15 PM EST Billboard has learned that former Bug Music CEO John Rudolph and Lava Records founder Jason Flom have partnered to throw their hat in the bidding ring for the EMI assets that Universal Music Group must sell as part of the terms of their acquisitio ...

  4. Billboard Home Front: Shaking Up The Genre Charts

    October 15, 2012 7:36 AM EDT Revamped charts will add streaming and downloads to methodology, breaking out fresh genre lists. Billboard unveils new methodology this issue for the long-standing Hot Country Songs, Hot R&B/Hip-Hop Songs and Hot Latin Songs charts. Each rec ...

  5. Business Matters: Artist Happiness as a Long-Term Investment

    October 01, 2012 9:23 PM EDT As interested parties line up for Universal Music Group's divested EMI assets -- particularly Parlaphone Records -- artists and managers are encouraging bidders not to forget about the artists. Jon Webster, CEO of the Music Managers Forum (MM ...

  6. Spotify U.K. Reports Revenue Growth; Operating Losses Narrow Dramatically To $3.4 Million

    September 27, 2012 3:42 PM EDT Strong growth in subscriptions helped Spotify's U.K. operation generate £95.5 million ($154.9 million) in total revenue in 2011, up from £63.2 million ($102.5 million) the previous year, according to its latest financial statement, as reporte ...

  7. Morning Fix: UMG-EMI Merger News; iPhone 5 Mania; Dangerbird Shake-Up; Billy Corgan's Tea House

    September 14, 2012 8:30 AM EDT Head HERE to subscribe to Billboard's free music-business newsletters. UNIVERSAL MUSIC-EMI DEAL GOES TO EU VOTE NEXT WEEK; FTC DECISION BY END OF MONTH: SOURCES: The Universal Music Group's proposed acquisition of EMI is headed for the e ...

  8. Bertelsmann H1 Earnings Rise, Interested In EMI Assets

    August 31, 2012 10:08 AM EDT Bertelsmann, which owns BMG Rights Management and Arvato, posted a net profit of 353 million euros ($443.95 million)on revenues of 7.6 billion euros ($9.6 billion) for the six month period ended June 30. That performance represented a 31.2% increa ...

  9. Yinka Adegoke Appointed Deputy Editor of Billboard

    August 30, 2012 4:53 PM EDT Billboard announced today the appointment of Yinka Adegoke as Deputy Editor, effective September 17. In this role, Adegoke will be responsible for driving the business editorial coverage for Billboard Magazine, the Billboard Bulletin e-newsletter, ...

  10. Exclusive: Naive's Patrick Zelnik Talks Universal-EMI Merger, Plan to Buy Virgin With Branson, More

    July 19, 2012 1:00 PM EDT Patrick Zelnik, founder and CEO of French independent label and distributor Naïve and co-President (for now) of Impala, the independent label association, has made international headlines over the last few days: On Monday a surprising op-ed he wro ...

  11. Universal Music's Concessions Grow in EMI Deal; Sale of Virgin U.K. Looks Likely

    July 17, 2012 11:01 PM EDT The Universal Music Group will take some extra time to prepare and submit its remedies package to the EU Commission, as part of its gambit to win regulatory approval to acquire EMI's recorded-music division. Depending on who you listen to, th ...

  12. Updated: Richard Branson Interested in Buying Back Virgin Records With Impala's Patrick Zelnik

    July 17, 2012 7:59 AM EDT LONDON - Virgin Group founder Richard Branson has expressed his interest in a potential bid for the Virgin Records label he founded. Vivendi's Universal Music Group is meeting with European regulators in Brussels this week to discuss possible ...

  13. Vevo vs. Google: Universal, Sony and the Latest Moves in the Chess Game

    July 12, 2012 5:41 PM EDT Vevo's future business arrangements are looking a bit cloudy, as reports this week suggest that the company's deal terms with Google are again in play , and that Universal is re-examining its stake in the company in the relation to UMG&# ...

  14. Business Matters: Paper on Post-Napster Industry Just Another Summer Rerun

    July 11, 2012 6:30 PM EDT New Paper On Napster Unveils Little 'New' Material An academic article by a Rutgers School of Law professor, titled " Copyright and Innovation: The Untold Story ," claims to have "uncovered" what was lost from lawsuit ...

  15. Universal Music's Lucian Grainge Proposes 'Manifesto For New Music Industry'

    July 10, 2012 6:53 PM EDT Lucian Grainge has plans to sell assets, invest heavily in A&R, and keep EMI as intact as possible while trying to gain approval for Universal Music Group's proposed acquisition of EMI's recorded music division in both the U.S. and E ...

  16. Vivendi Chairman Jean-Rene Fourtou Takes Charge of Universal-EMI Deal, Report Says

    July 07, 2012 1:18 PM EDT Vivendi chairman Jean-René Fourtou has taken leadership of Universal Music's proposed $1.9 billion acquisition of EMI's recorded-music division, hoping to persuade regulators not to block or overly diminish the deal, according to a repor ...

  17. Universal-EMI Merger: European Commision's Statement of Objections Leak (Report)

    July 03, 2012 12:15 PM EDT As the music industry anxiously awaits whether or not Universal Music Group's purchase of EMI Music will be approved by European and U.S. regulators, the media is in overdrive reporting every twist and turn of the labyrinth process as if it w ...

  18. The Jubilee Bump: How The Queen's Diamond Jubilee Is Boosting UK Music Sales

    June 06, 2012 3:26 PM EDT Robbie Williams performing at the Queen's Diamond Jubilee concert outside Buckingham Palace on Monday (June 4). (Photo: Getty) As the U.K. awaited an in-depth post-match report on the effects of the four-day (June 2-5) Jubilee celebrations on ...

  19. Vevo's Numbers Climb in First Quarter With Facebook Integration

    May 24, 2012 1:15 PM EDT Vevo's new redesigned homepage with Kanye West. (Screenshot) Vevo's integration with Facebook, part of its design launched in March , appears to have helped increase usage at both Facebook and Vevo.com, according to numbers shared by the ...

  20. Business Matters: Is Vevo Considering An IPO?

    May 23, 2012 4:42 PM EDT Is Vevo Considering an IPO? -- Vevo is seeking new investors to help fund its international expansion, according to reports at Sky News at the Financial Times. A report by Sky News claims the company has hired investment bank Allen & Co to loo ...

  21. Business Matters: Triton Media Helping Pandora Seem More Like a Radio Company

    May 21, 2012 5:48 PM EDT By Acting More Like Radio, Pandora Can Sell Advertising Pandora Media will become a successful Internet radio service by acting more and more like a radio company. In order to be a radio company, you need to use metrics common in the radio busines ...

  22. Spotify Raising Funding at $4 Billion Valuation: Report

    May 17, 2012 2:49 PM EDT Music subscription service Spotify is raising money at a $4 billion valuation, according to a report Thursday at the New York Times . The report says Goldman Sachs is set to invest $100 million and the round -- which will not close for "many ...

  23. Business Matters: NARM Embraces Big Data -- Will Big Data Reciprocate?

    May 08, 2012 9:29 PM EDT NARM Embraces Big Data -- Will Big Data Reciprocate? -- Big Data invaded the NARM conference on Tuesday afternoon. Terms like "KPI" (key performance indicators) and "regression analysis" popped up in a setting more used to disc ...

  24. Business Matters: Tax Day $2.99 Albums A Hit for Google Music

    April 27, 2012 5:26 PM EDT Google Play's Tax Day Deal Bumped Sales Selling digital albums for $2.99 won't help Google Music reach the company's initial projections, but it's one way for the young download store to move the needle. On April 17, Google Pla ...

  25. Sony's Acquisition of EMI to Be Approved Today, Sources Say

    April 19, 2012 12:05 AM EDT According to multiple sources, the European Commission is expected to announce Thursday its approval of the purchase of EMI Music Publishing by the Sony Corp. of America-led consortium. The news was first reported in the Financial Times. That acqu ...

  26. Universal to Sell Music-Publishing Catalogs Worth $200 Million as Part of EMI Purchase

    March 26, 2012 10:43 PM EDT Universal Music Group is planning to sell three of its music-publishing catalogs to help finance its acquisition of EMI's recorded-music division, a source told Billboard.biz. The news was first reported the Financial Times . Universal has br ...

  27. Business Matters: Spotify's Reported $4 Billion Valuation in Perspective

    March 26, 2012 5:08 PM EDT Spotify Looking For Billions In Funding Spotify is reported to be seeking funding of $3.5 billion, according to Business Insider , or $4 billion, according to the Financial Times . The company has over 10 million active users, well over 3 million ...

  28. Michael Lynton Expected to Become CEO of Sony USA: Sources

    March 21, 2012 3:54 PM EDT Sony Pictures Chairman & CEO Michael Lynton is expected to become CEO of Sony Corporation of America, as part of current Chairman/CEO/President Sir Howard Stringer's hand-off of his responsibilities on April 1. As previously reported, Str ...

  29. Francis Keeling Named Universal Music's Global Head Of Digital Business

    March 07, 2012 6:14 AM EST Universal Music Group is once-again ramping up its digital operations with the promotion of Francis Keeling to the role of global head of digital business. Effective immediately, Keeling will report to Rob Wells, UMG president of global digital bu ...

  30. Beyond Oblivion Shuts Down Before Launch

    January 03, 2012 2:15 PM EST Beyond Oblivion, a New York-based startup with an innovative approach to digital music, has shut down before its product ever launched. A January 3 post at LinkedIn by Janet Mitchell , the company's Sr. Director of Human Resources and Staffin ...

  31. The Year in Music Stocks: The Good, The Bad, The Overall Decline

    January 01, 2012 4:18 PM EST Music stocks were much like the broader markets in 2011: a mix of good and bad with an overall decline. Billboard's list of ten music-related stocks fell by an average of 4 percent in 2011. The Dow rose 3.2 percent, the S&P 500 dropped 1. ...

  32. Tim Schaff, Chief of Sony Digital Music: Eight Reasons to Be Optimistic

    December 09, 2011 2:43 PM EST Anyone paying attention to digital music over the past ten years might wonder why Sony would ever bother with digital music again. The company's past is littered with abject failure and spectacular catastrophe - everything from MP3 players th ...

  33. EMI Publishing Deal Might Close Before Label

    November 11, 2011 1:48 AM EST With the Financial Times reporting that a deal with Citigroup and Universal for EMI's recorded music division could be struck by the start of next week, sources say that the bank may close the publishing deal first, possibly as soon as today ...

  34. EMI: Access/Warner Pulls Out of Auction

    October 30, 2011 9:28 PM EDT In an apparent game of brinkmanship, Len Blavatnik's Access Industries has pulled out of the auction for EMI's recorded music operation, sources confirmed to Billboard.biz, even though the company was said to be the front-runner in the b ...

  35. Updated: As EMI Auction Hits Home Stretch, Who's in the Lead? Depends Who's Talking ...

    October 27, 2011 3:00 PM EDT UPDATE Friday 6 p.m. ET : While it was widely speculated that there would be news about the status of EMI's auction today (October 28), the week is closing with negotiations still ongoing, sources tell Billboard.biz. The biggest hold-up revol ...

  36. Robbie Williams leaves EMI for Universal

    October 21, 2011 3:53 PM EDT Robbie Williams, one of the most successful artists on EMI, has left the company and signed with Universal for his next solo LP, according to the Financial Times and other online reports. "I'm really thrilled to be joining the Universal ...

  37. EMI: With Bids Low, Company Considers Whether to Split Up or Postpone Sale

    October 17, 2011 4:05 PM EDT While Citigroup is keeping all five known EMI bidders on the hook, it isn't yet actually conducting a formal third round of bidding with a deadline, sources tell Billboard.biz. Instead, they have been in touch with all bidders, asking them to ...

  38. EMI Auction: Second-Round Bids Are In, Questions Still Looming

    October 06, 2011 10:06 PM EDT With the second-round bids for EMI now in (as of Oct. 5), it will take a few days for clarity about the situation to emerge, sources say. Of course, Citigroup and EMI know what they have in hand, but bidders and their consultants are unsure of whe ...

  39. Business Matters: Apple to 'Talk iPhone' on October 4

    September 27, 2011 4:57 PM EDT Apple to "Talk iPhone" on October 4 -- Apple has announced it will host a special event October 4 to "talk iPhone." The event will take place at the Apple campus in Cupertino, California and will begin at 1 p.m. ET/10 a.m. PT. ...

  40. Business Matters: Don't Forget About Internet Radio On f8 Day

    September 22, 2011 7:45 PM EDT Don't Forget About Internet Radio On f8 Day -- Spotify got most of the attention at Facebook's f8 conference on Thursday, but Internet radio services could end up being the big winners. While Pandora was noticeably absent from today' ...

  41. StubHub Preps U.K. Launch

    September 16, 2011 8:23 AM EDT Secondary ticket site StubHub is to launch in the United Kingdom, according to reports. The Ebay-owned company is due to launch in the fourth quarter of 2011 and has been recruiting staff in Dublin ahead of its U.K. bow, claims The Financial Times ...

  42. Beyond Oblivion Unveils Boinc Music Service

    August 22, 2011 1:28 PM EDT Beyond Oblivion has finally released details of its device-based music subscription service. Called Boinc, the unlimited, ad-free music service will be bundled with mobile devices and PCs and can also be purchased separately. Visitors to the new B ...

  43. Business Matters: Rhapsody, MetroPCS Partnership Excludes Warner Music Group

    August 17, 2011 6:29 PM EDT Rhapsody, MetroPCS Partnership Excludes Warner Music Group -- Warner Music Group is a holdout in the Rhapsody-MetroPCS bundle r eported Wednesday at Billboard.biz , according a report by CNET. That means subscribers who get the free subscription t ...

  44. Business Matters: Who Pays for Antipiracy Enforcement?

    July 18, 2011 10:22 PM EDT Who Pays for Antipiracy Enforcement? -- Here's a good question: should ISPs in New Zealand pay the enforcement costs of three strikes? It's more than an academic question. A stakeholder that bears no direct costs in fighting piracy has a ...

  45. Spotify To Launch in U.S. Thursday

    July 13, 2011 7:21 PM EDT Get ready to see what all the hype is about: European music service Spotify is set to launch in the U.S. Thursday, according to an industry source, an email from the company's publicist and several reports in the media Wednesday afternoon. Th ...

  46. Google at Center of Antitrust Probes

    June 24, 2011 7:55 AM EDT NEW YORK (Reuters) - Google Inc found itself at the center of multiple government investigations on Thursday into whether it is using its dominance in search advertising to scotch competition. At least three state attorneys general have started an ...

  47. Business Matters: TuneCore Says Upgrades, Features Behind Its Price Increase

    May 09, 2011 7:59 PM EDT TuneCore Says Upgrades, Features Behind its Price Increase -- Digital distributor TuneCore has been getting some grief in the last few days about its increase in the fees it charges for digital distribution of an album. The annual fee for a single ...

  48. Baidu to Launch Licensed Music Service in May

    April 06, 2011 7:23 AM EDT Baidu Inc, China's top search engine, will launch a licensed music search service in May, in a move to legitimize its current music search that critics say enables music piracy. Baidu will launch Baidu Ting sometime in May, said Kaiser Kuo, a ...

  49. Business Matters: Why Some Americans Will Lose Interest in Spotify

    March 15, 2011 6:12 PM EDT Spotify Thrown Over For A WIMP ... -- In "I Broke Up With Spotify," Swedish writer Sam Sundberg explains that he has taken up a relationship with WiMP, the music service that launched last month in partnership with telecom company Telnor ...

  50. Business Matters: Investor Enthusiasm for the Cloud Continues as Beyond Oblivion Secures $77 Million Funding

    March 08, 2011 8:39 PM EST Beyond Oblivion Secures $77 Million Funding -- Investments in new digital music companies are surprisingly large and frequent these days. The latest example is Beyond Obilvion . The most anticipated cloud-based music service you've never hear ...

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