Bits & Pieces: MySpace Sold, AOL links with Slacker and Rhapsody Keeps on Keeping on
The names making music-tech news this week are a veritable who’s who of the once mighty, including MySpace, AOL and Rhapsody… News of the sale of MySpace broke yesterday, with ad network Specific Media choosing to pick up the pieces of the former social network goliath for $35 million – for those keeping score, it was purchased for $580 million in 2005 by News Corp. (who will continue to keep a small stake). And in an unexpected twist, it was also announced that Justin Timberlake has taken an ownership stake as part of the deal, and that he will be heavily involved in rejuvenating the site… On Tuesday a new partnership between AOL and Slacker was announced, with the interactive radio service set to power AOL Radio starting in September. They will replace AOL’s current partner in CBS, and the new service will expand the music offerings and give users the same pricing options as what Slacker already offers. It’s expected to more than double Slacker’s current number of listeners… Elsewhere, now seasoned music streaming service, Rhapsody, has added 100,000 new customers since its spinout from RealNetworks and Viacom last year, as revealed in a PaidContent interview this week. The increase comes mainly from its mobile app efforts, and the company will likely be looking for new investment soon, particularly with the recent interest in streaming startups.
Wednesday Bits & Pieces: Tip of the UMG Change-Over, Yahoo Music Head Departs, MTV Funding Videos & More
Changes afoot @ UMG
The departure of longtime Universal Music Group vice chairman and CFO Nick Henny was announced this week, the first high-level executive to exit under new UMG ruler Lucian Grainge. Seen as only the tip of what will be a massive restructuring at the largest of the four major music groups, chatter continues about the fate of executives and the labels themselves including Island Def Jam, Mercury and both Motown and Republic labels. Stay tuned… After a relationship lasting almost four decades, Queen has officially parted ways with EMI, signing with UMG in a deal that will see the release of remastered albums next year… In more exits, Yahoo Music chief Jeff Bronikowski is reportedly leaving to join AOL Music - AOL has also been named among those recently interested in acquiring Yahoo, other names on the list include BMG Rights Management backer KKR… Though no longer “Music Television” in name, MTV has announced the launch of a new series of videos called Supervideos, that will see the company funding the videos themselves – a move spawned by the return of music video popularity online, and possibly the rise of a new rival in Vevo. The first video project is for the LCD Soundsystem song “Pow Pow”… Elsewhere, Warner Music is launching an archival project dubbed Sight of Sound, which will focus on the integral role that visuals played in the pre-Internet age, and to document the rich history of the label… And after two years of running as an ad-funded streaming service, the UK company We7 is refocusing as an online radio service similar to Last.fm and Pandora.
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Wednesday Bits & Pieces… Google Music, MTV Twitter Jockey, Limewire & OK Go
MTV looks for Twitter Jockey
Chatter is starting about a possible Google Music Store launch as early as this fall – if true could Apple be far behind… MTV has launched a campaign to find its own official Twitter Jockey… Reports have surfaced that AOL had sold its music service Bebo, though the media giant was quick to deny any sale… Limewire has a new legal music service in the works, but many wonder if the bridges are already burned… And OK GO has just released a new music video complete with a Facebook fan-contest…
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In Case You Missed It: Reading Recap
Buh Bye bebo; AOL Plans to Sell or Shutter the Social Network
The week began with a report that EMI was apparently still in talks with Sony Music about a possible catalog licensing deal, though some have pointed out that contracts with key EMI artists might prevent such a deal from going through. No further updates followed, other than a cheery financial outlook from Terra Firma boss Guy Hands… AOL revealed that it was planning to sell or shutter the social networking site bebo that it paid $850 million for in 2008, while Rhapsody spun off into an independent company shedding former partners RealNetworks and Viacom/MTV; the subscription music service now also counts Universal Music Group as a new minority investor… Digital royalty collection organization SoundExchange announced that its 2010 Q1 payouts to artists and copyright holders topped all previous quarters… Details about the Solid Sound Festival were released this week, the Wilco-currated three-day event will take place in June at MASS MoCA in North Adams, MA… And Sonicbids owner Panos Panay talks about the artist-as-entrepeneur…
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