Hip Hop Business News From ProHipHop
Dominos Falling: Importers Latest Record Industry Casualties

New Music Business Briefing: Getty Buys PTW, Panero Exits XM, Starbucks Signs Joni Mitchell & Much More

UPDATED:

Ptw_places >>> Getty Images which last month bought music license site Pump Audio has also grabbed indie rock destination Paper Thin Walls for $850,000.  PTW has recently been adding some innovative social networking and indie empowerment features and promises more. The Daily Swarm has an interview with one of the (now slightly richer) PTW founders and some insight into what Getty may really be up to. (more)

>>> Christian Jorge has joined Island DefJam has head of digital. (Billboard)

Xm >>> In a much anticipated move Hugh Panero will exit as head of XM. (Variety)

>>> The iPhone appears to be boosting sales for all music phones and services. (PC World)

Starbucks >>> HITS had it wrong. Starbucks is not signing James Taylor to its new record label. (Variety) It is a semi-retired Joni Mitchell who is back in action with a Sept 25th release. (Billboard) Caroline/EMI has also signed former Skid Row singer Sebastian Bach (Komodo). There's some kind of pattern here...and in the case of Mitchell (and McCartney before her) a bit sad that it takes a non-record label to figure out how to make money with these well established artists.

Burger_king_2>>> EMI is going to give away DRM free tracks in a Burger King UK promo (Billboard) via a new deal with digital agency VerveLife. Expect more DRM free promo action as retailers realize they can give away tracks that have value to more than just iPod owners. (more from Hypebot)

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