All Access / Festivals!

Twitter Says Has ‘A Lot Of Money In The Bank’

Twitter co-founder Evan Williams said the popular microblogging company was not running low on capital, amid media reports that the company is considering raising a large round of funding.

Williams told an industry gathering in San Francisco on Wednesday (Nov. 17) that Twitter has “a lot of money in the bank.” He declined to comment on whether the company was in discussions with investment firms about funding.

San Francisco-based Twitter has 175 million users and is one of the most popular Internet social networking services. The company, which allows its users to broadcast short, 140-character messages, or Tweets, to groups of “followers,” has only recently started efforts to generate revenue through special ads that appear in certain parts of its service.

Williams, speaking at the Web 2.0 conference, said the company’s initial efforts at generating advertising revenue had exceeded the company’s expectations, though he declined to provide financial details.

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Promoter Darin Lashinsky Leaves Outback Concerts To Form National Shows 2

Darin Lashinsky, formerly a senior VP at Outback Concerts, is leaving that company to form National Shows 2 (NS2), a Nashville-based, full-service concert promotion company.

Lashinsky, a third generation concert promoter, will be CEO of NS2 and will manage all aspects of the company. NS2 will buy, create, produce and promote entertainment in arenas, amphitheaters, performing arts centers and other venues across the country.

Asked why he made this move at this point in his career, Lashinksky tells Billboard.biz, “After nearly 20 years in the business, it’s time for me to work for myself. That’s the way my family did it.” Of his time at Outback, Lashinsky says, “Outback was a great opportunity and I think the world of [Outback owner] Mike [Smardak].

Prior to his 12-year stint at Outback Concerts, Lashinsky worked with his father, Philip Lashinsky, at his Nashville-based concert promotion company National Shows, to which the name NS2 pays homage. The original National Shows was owned and operated by Lashinksy’s late father, Philip, and uncle Gary.

At NS2, Lashinsky will promote “everything that everybody knows me for and what I’ve always done,” he says. “I’m not trying to change the way I personally have approached the business and the shows I’ve promoted, whether it’s Keith Urban, Metallica or John Prine. ”

Investing in NS2 are independent promoters Larry and Fred Frank of Frank Productions, the Madison, Wis.-based independent concert promoter. Though once known as primarily a promoter of country and family shows, the Frank brothers evolved and have found success in recent years promoting tours, or legs of tours, primarily by hard rock acts.

Conceivably, the two companies could partner and put together a long string of dates regionally or nationally. “The two companies are completely independent, but of course we’re going to play to all of our strengths,” Lashinsky says.

While the companies each have strong regional bases, “if you look at how both of us do business, there are no boundaries,” Lashinksy says. “I’ve always been that way, and I think that’s the independent spirit. If you want me to do a show in Portland, Maine, if I think I can make money, or Portland, Oregon, or South Florida, there are no limits to where I can do business and the guys I do business with know that.”

NS2 staff will include production manager/talent buyer Brian Penix, director of marketing Kendall Maffett, and New Media manager Craig Varian.

As for launching a new concert company at a time when the economy is down and the touring business is coming off its most challenging years in a decade, Lashinksy says, “I’ve obviously thought about this for a long time, and the truth is that sometimes in the worst economic times, people who go out and take a chance come out the other side winning.”

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Five Reasons Why The Beatles’ Arrival On iTunes Still Matters

It’s tempting to dismiss the Beatles’ long-delayed arrival on iTunes as a non-event. After all, it’s been more than seven years since iTunes began selling music. And EMI Music reissued the band’s entire discography on CD barely a year ago. Still, here are five reasons why the Beatles-iTunes deal is important:

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

RIM Takes On Apple’s iPad

BlackBerry maker Research In Motion, a late entrant in the booming tablet market, will take on Apple’s iPad with competitive pricing of its rival Playbook device.

The Canadian firm’s tablet, set to launch in the first quarter of next year, will start contributing to its sales “right at the gate,” said RIM Co-Chief Executive Jim Balsillie.

RIM, which has touted the 7-inch tablet’s ability to support Adobe’s widely used Flash multimedia software, is confident the PlayBook would help sustain “fast sales growth.”

“You have seen the smartphone market just explode… We are in the right sweet spot… This idea that there are two players and a small pie and they are divvying that between them — you are missing the point,” Balsillie told Reuters in an interview on the sidelines of the G20 CEO Summit in Seoul.

Last month, Apple CEO Steve Jobs said a batch of seven-inch-screen tablets, including the PlayBook, that will compete with Apple’s 10-inch iPad would be “dead on arrival” when they hit the market. RIM insists the seven-inch tablets would be a big portion of the market.

The iPad’s Wi-Fi-only version, sells at $499 and runs up to $699 for a 64-GB model. A 3G iPad starts at $629.

RIM will be lagging rivals such as Samsung Electronics, which aims to sell at least 1 million units of Galaxy Tab this quarter alone. Apple’s iPad controls 95 percent of the market.

“It’s [tablet] a long strategic market and we are still growing 20% plus… We are still growing fast and we haven’t factored into tablets and we have great products,” Balsillie said.

International sales of the Playbook start in the second quarter.

By Miyoung Kim and Saeed Azhar, Reuters

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Warner Music Group Fully Acquires Roadrunner

Warner Music Group has completed its acquisition of Roadrunner Records, which started in January 2007, when the major acquired 73.5% of the company.

Roadrunner will continue to operate as a distinct brand within WMG, according to sources and Cees Wessels, the label’s founder, remains CEO.

According to a source, there will be staffing changes, mainly at Roadrunner’s corporate head office in the Netherlands, with a number of support and administrative functions being handled by Warner Music going forward.

In an internal memo to staff, Wessels wrote: “Since joining the Warner Music family, we have enjoyed some of our greatest creative and commercial successes as a label. Most importantly, we have retained our unique identity while also expanding our horizons, thanks in part to the tremendous expertise and experience we can tap into as part of the Warner Music family and the relationships we have built with our Warner Music colleagues around the world. I am very proud that Roadrunner is now a fully-fledged stable mate of such iconic labels as Atlantic , Warner Bros. Records, Elektra, Asylum and Rhino, and I believe that we are in this position thanks to our team’s hard work and consistently original approach over the years. The vast majority of our staff around the world will experience little or no change to their roles. However after carefully reviewing our operations, we have decided to transfer the support functions across to our Warner Music colleagues in some territories. This is not an easy process to undertake, but we believe that, by making these changes, we can take Roadrunner to the next level by focusing our resources on marketing our existing line-up of acclaimed artists as well as discovering the stars of tomorrow”.

Roadrunner’s overall albums market share through Nov. 7 (which includes catalog) is 0.85%. Current album market share is 0.91%. Initially founded in the Netherlands in 1980, Roadrunner’s roster includes Lynyrd Skynyrd, Dream Theater, Kenny Wayne Shepherd, Collective Soul, DragonForce, Korn and others.

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

What Will Happen With EMI?

By Glenn Peoples

The Road Ahead of EMI
Now that Terra Firma lost its lawsuit against Citigroup all eyes are on EMI’s debt covenant test in March. Before then, Citigroup and Terra Firma could reach an agreement that allows EMI to continue business uninterrupted. But it’s possible to envision a disruptive conclusion to Terra Firma’s ownership of EMI that will impact employees and artists. The long list of possible scenarios includes some already dismissed by EMI. In an internal memo, posted at Billboard.biz, EMI Group CEO Roger Faxon commented on a number of outcomes that will be bandied about the press. The company is not in danger of bankruptcy, he wrote, nor is it likely to sell catalog assets to stave off financial ruin.

He also singled out two scenarios that routinely get a lot of play in the media: a sale to a competitor of either one or both of its division (recorded music and publishing). Neither will happen, Faxon writes, because seeing EMI’s global rights management strategy to fruition requires the company remain intact.

But it’s not unreasonable to speculate about the possible scenarios. If the Terra Firma-Citigroup lawsuit teaches us anything, it is to expect the unexpected. Put simply, EMI has not been a textbook turnaround case. The company seriously considered licensing its recorded music catalog in North America, Terra Firma has needed to make equity injections to meet its debt covenants (which get stricter in the future) and EMI has had key executives and artists leave in the last few years.

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

The Future of EMI?

Here’s Roger Faxon’s Memo To Staff…

After more than sixteen years of working for EMI, I’ve become well used to the speculation that follows every single move that this company makes. Whether we’re buying, selling, signing or dropping, EMI is never far from the headlines – as you will all have seen this weekend.

But like the sports star whose imminent transfer or trade occupies the back pages of the newspapers for weeks on end, most speculation only contains the smallest grain of truth. So while most people managed to correctly assert that Citigroup won the court case with Terra Firma, the tales of doom and destruction for EMI that followed had as much credibility as the idea that I might be the answer to the Yankees’ pitching problems or Manchester United’s defensive woes.

I know it’s difficult not to be affected by these stories. So, I thought it would be worth me taking a look at some of the myths that have been bandied about over the last few days, and tell you why you should believe them as little as I do:

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Live Nation Buys Ticketnet In France

Concert promoter Live Nation Entertainment Inc., which merged with Ticketmaster this year, said Tuesday that it bought France’s second-largest retailer of tickets, Ticketnet.

Terms were not disclosed.

Live Nation said the acquisition was a “significant step” in its global expansion strategy and complements its growing concert promotion activities in France. Ticketnet, which also serves Belgium and Luxembourg, operates in a 4 billion-euro ticketing market, which is growing by 5 percent annually, the company said.

“Ticketnet will accelerate our development in the fifth largest music market in the world,” Live Nation CEO Michael Rapino said in a statement.

Ticketnet sells 6.6 million tickets to more than 40,000 events a year, Live Nation said. It sells via the Internet, through call centers and from 750 retail sales points. The company has 100 employees.

Live Nation shares were up 6 cents at $9.76 in afternoon Tuesday trade.

By Associated Press

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Pulp Reforms, Confirms European Festivals

Britpop band Pulp has reformed and will play shows in 2011.

The band from Sheffield in the north of England has been on hiatus since 2002 and frontman Jarvis Cocker has pursued a solo career. The reunion features the full original line-up, which has not played together since 1996.

In a statement, Pulp said the members “decided to get together and play some concerts next summer.” The first confirmed 2011 shows are the Primavera Sound Festival in Barcelona (May 27) and Live Nation’s London festival Wireless with Barclaycard (July 3). Barclaycard holders get priority booking for the festival from the Wireless festival website from 9am on Nov. 10, including a limited number of two-for-one tickets.

The band is also tipped to play 2011 Glastonbury Festival, where the gave a memorable headline performance in 1995.

Universal Music reissued Pulp’s albums “His ‘n’ Hers,” “Different Class,” and “This is Hardcore” in the U.S. in November 2009.

By Andre Paine, London

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

What’s Happening to Digital Album Sales?

Digital album sales aren’t falling off a cliff, but they are experiencing a sustained decline for the first time. A Billboard analysis of Nielsen SoundScan data has found that after seven years of strong growth, digital albums are finally starting to show signs of old age.

In 2010, digital album sales have, for the first time, gone through three consecutive quarters of negative growth. Unit sales were down 5% in the first quarter, down 7% in the second quarter and down 3% in the third quarter. In the fourth quarter of 2009, sales reached 22.9 million units, a 28% increase from the third quarter and the highest quarter on record.

It is natural for sales to slip for a quarter or two. Second quarters tends to be slow– first quarter sales are usually strong – and the release schedule in any given quarter could be a bit lackluster. Digital album sales actually dropped 1% in the second quarter of 2006 after growing 40% and 30% in the previous two quarters. In the following years, the second quarter sales have always been lower than first quarter sales.
Unlike tracks, digital albums are actually up this year — 12% through October 24. Track sales are down less than 1% this year.

But now digital albums’ growth trajectory is similar to that of tracks. The week ending October 10 was so bad that year-over-year digital album sales actually reached negative territory and fell less than 1%. It was the first such deficit of the year. That week’s total of 1.42 million units was the lowest weekly sales total of 2010 and the lowest since December 2009.

Here are some thoughts on this trend:
– This drop is not a surprise and not a reason to write off the album format. Digital tracks, albeit aided (if only slightly) by a rise in prices, had already lost momentum at this time last year. Digital albums were destined to fade as well, although with a lag time of a year or two behind tracks. These trends show the download market has become mature. Growth is now harder to come by.

– The fourth quarter (not reflected in these numbers) should bring at least a temporary turnaround for digital albums. A release schedule weighted to the fourth quarter means more sales at the end of 2010 and early 2011. Fueled by sales of gift cards and new hardware devices, digital sales tend to retain some of their holiday momentum in the early part of the following year.

Already in the fourth quarter there has been a strong digital performance by Kings of Leon’s new album, “Come Around Sundown.” Next week’s chart will have Taylor Swift’s new album, “Speak Now.” Also coming in the fourth quarter are new releases by Kanye West, Keith Urban, Rascal Flatts, My Chemical Romance, Norah Jones, greatest hits collections from Pink and Bon Jovi and unreleased music from Bruce Springsteen. Artists such as Josh Groban, Susan Boyle and Neil Diamond, on the other hand, are likely to have CD-centric fourth-quarter hits.

– Much of the digital album growth in 2010 came in the first quarter. Unit sales are up about 7.3 million units this year. About 41% of that gain came in the first three months of the year and most in the month of January. Since April, year-over-year gains have been smaller.

– This trend should put extra pressure on record labels and publishers to speed the arrival of next-generation products and services.

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)
Powered by WordPress