Overnight, reports surfaced from Scandinavia that Jay Z's TIDAL would be filing a lawsuit estimated to be worth $15 million against former owners Aspiro over exaggerated subscribers claims prior to the sale. This morning TIDAL confirmed the lawsuit and the reason behind it. Here's the full text of the TIDAL statement.
BMI is seeking an Executive Director Of Business Development to direct licensing negotiations and account services for its Digital Licensing group. More on this gig and others on Hypebot's Music Industry Jobs Board.
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Join us next month for an impressive lineup and some unprecedented networking with global music industry leaders at MUSEXPO in Los Angeles from April 17-20, 2016.
[UPDATED] Debt has become an increasingly popular funding mechanism for mid to late stage startups as investors grow tired of sky high valuations and seeing their stake reduced by later equity infusions. Now, Spotify has jumped on the debt financing bandwagon, raising $1 billion under some potentially difficult terms.
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I'm thinking/hoping that Ek & Co have an end game beyond just mo' money. IPO? (aka even more money) Video? Both?
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YouTube has come under increasing fire of late owing to the minuscule payouts which it has been providing to artists and labels, far less than other music streaming services such as Spotify and Apple Music. Unfortunately, YouTube's powerful position in the industry makes this a tough financial nut to crack.
The Rolling Stones performed in front of an estimated crowd of 1.2 million fans in Havana on Friday night, marking the time the English band has ever played in Cuba. The free open-air concert took place at at Ciudad Deportiva de la Habana, a major sports complex which held a reported crowd of 700,000 fans, as well as another 500,000 listening outside of the venue.
[UPDATED] Wall Street punished Pandora stock on Monday, after founder Tim Westergren was named CEO as part of a major executive restructuring. But several prominent analysts and music industry insiders took a different view, praising the decision; and we got the first indications as to why the change was made.
[UPDATE] Tim Westergren has long been the public face of Pandora, preaching his Music Genome gospel to literally anyone who would listen. (I watched him try to explain internet radio to a confused AARP convention audience almost a decade ago.) Pushed aside in the board room as the company grew and went public, Westergren is now back in charge as Pandora's new CEO.