Morning Fix: Live Nation's 3Q Earnings; Pandora Sues ASCAP; Google Buries Legal MP3 Sites
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| LIVE NATION PROFIT, REVENUE SOAR IN THIRD QUARTER: Live Nation got through a tepid global economy to deliver strong growth in revenue and net profit in the third quarter. Led by its concerts division, Live Nation's revenue increased 9.7% to $1.96 billion in the quarter from $1.79 billion in the prior-year period. Aided by acquisitions and increased attendance, the concerts division revenue grew 11.7% to $1.43 billion in the quarter. Billboard.biz ? |
| LEGAL MP3 SITES ARE STILL BURIED BY GOOGLE SEARCH RESULTS: If most people simply want to do the right thing when it comes to downloading, the upcoming Copyright Alert System could help more than searching at Google. Over three months after Google implemented a system to lower the search ranking of domains based on the number of DMCA takedown requests received, Billboard.biz finds legal options are still buried in the search results for many popular artists. Billboard.biz |
| TWITTER ADDS TRANSPARENCY TO DMCA TAKEDOWN PROCEDURE: Twitter has added some new elements to its DMCA takedown procedure that add more transparency to the process. Tweets that have received a takedown notice will indicate they have been withheld due to a response from a copyright holder. A Twitter user, however, can file a counter-notice without the tweet being entirely removed. Billboard.biz |
| AEG LIVE, ROYAL PARKS INK SUMMER CONCERT DEAL IN LONDON'S HYDE PARK; LIVE NATION DEAL ENDS: AEG Live and the Royal Parks have announced a five-year deal to produce six summer concerts each year at London's Hyde Park, beginning in 2013 effectively ending the Royal Parks' previous deal with Live Nation, who withdrew from the tender process in October, citing noise restrictions and issues around crowd considerations . In July, Bruce Springsteen and Paul McCartney had their Hyde Park set cut short. Billboard.biz ? |
PANDORA MEDIA SUES ASCAP SEEKING LOWER SONGWRITER FEES: Pandora has asked a federal court in New York to set "reasonable" license fees from the American Society of Composers, Authors and Publishers through 2015. Pandora is seeking a blanket licensing fee that would cover all songs represented by the 435,000-member group. The radio service has said the current fees prevent profitability. Pandora is also lobbying the U.S. Congress for lower royalties on recordings.
Bloomberg
UMG'S LUCIAN GRAINGE OUTLINES CAPITOL/EMI PLAN: Speaking to Hits Daily Double, UMG CEO Luican Grainge said that he wants to "create an arc" between Capitol in the US and in the UK. He outlined plans to sign new artists to the label as well as providing internal resources "to give it a leg up and get it started. "EMI has a different meaning depending on which continent you are speaking about," said Grainge. "I'm learning this and trying to better understand it as we go along. The United States is about Capitol, and the UK and Europe are about EMI and Virgin....It is my ambition that we take advantage of the strengths that these identities have globally and geographically to where it can make the most difference."
Music Week
BILLBOARD FUTURESOUND INNOVATORS FINALISTS ANNOUNCED: Billboard has announced the five finalists in the Innovators Showcase at its FutureSound conference, taking place Nov. 15 and 16 in San Francisco: Getmixxd, Playground.fm, Swarm.fm, Tixie and Tunezy were chosen from a group of 67 nominees to pitch their product or service to a panel of music technology experts at the conference. Eligible companies had to be pre-revenue with a working prototype or product demo to display.
Billboard.biz
SPOTIFY AND ITS DISCONTENTS The New Yorker has an interesting if familiar take by Mike Spies on why dogged digging and exorbitant prices somehow make music seem better. Key line: "We seem to have created an environment in which wonderful music, newly discovered, is difficult to treasure...."
The New Yorker
AOL POSTS HIGHER THAN EXPECTED PROFITS AND REVENUES, CORE BUSINESS SHRANK: AOL reported Q3 earnings this morning. The company beat profit and revenue expectations. But it did so thanks to growth of search ads and its ad network, not because of its core domestic display ad business which shrank 3% year-over-year.? Ad revenue grew 7% to $340 million, up from $317 million during the same quarter a year ago but total revenue was flat year-over-year.
Business Insider
ELLIOTT CARTER, COMPOSER WHO DECISIVELY SNAPPED TRADITION, DIES AT 103: Elliott Carter, the American composer whose kaleidoscopic, rigorously organized works established him as one of the most important and enduring voices in contemporary music, died on Monday in Manhattan. He was 103 and had continued to compose into his 11th decade, completing his last piece in August. Mr. Carter's music brought him dozens of awards, including two Pulitzer Prizes.
New York Times
TWITTER'S ELECTION DAY 2012 EVENT PAGE IS LIVE: Twitter is aiming to make it easier for political junkies to get news by creating a one-stop shop Election 2012 event page. Curated by Twitter, the page is loaded with tweets from the presidential candidates, political parties, and news sources such as the Electoral College, CNN, and the Washington Post. "It highlights tweets from candidates and their staffers, media, and other key players so you can hear directly from those close to the action," Rachael Horwitz, Twitter's senior manager of communications, wrote in a blog post today.
CNET
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