Music Industry News: UMG Cuts Ahead, Fewer Lawsuits, Midem Hack Day, Limelight, Indaba & More

• New Universal Music chief plans cost-cutting drive to rescue troubled US operation. Lucian Grainge pledges to overhaul business after fall in earnings due to plummeting physical music sales. (Guardian)
• Listen Up: Billboard.biz Seeks New Business Editor. (MB)
• Do The Math: How Big Will Spotify’s Revenues Be In 2010? (Gigaom)
• Cost of suing file sharers could skyrocket soon. (CNet)
• Music Hack Day comes to Midem.  (MidemBlog)

More Music Industry News & Commentary:

• Rightsflow's Limelight is working with a growing number of college based record labels to educate about mechanical licensing and help with song clearance. 
• Pandora continues to top the internet broadcast ratings. (FMQB)
• CBS Looks Back To Last.fm’s UK Crew For Renewed Creative Impetus (paidContent)
• Wilco do a lot of things right. Music, music festivals, and now Coffee. (New Rockstar Philosophy) PS: the NRP gang is raising funds to go to SXSW. Let's help 'em out. Does anyone have a panel they can be on?
• Heartbeats’ CEO Jakob Lusensky and Gerd Leonhard, media futurist and CEO of The Futures Agency talk about the media of the future and what we can learn from the days of Gutenberg. (Sounds Like Branding)